<SEC-DOCUMENT>0001554855-22-000330.txt : 20220516
<SEC-HEADER>0001554855-22-000330.hdr.sgml : 20220516
<ACCEPTANCE-DATETIME>20220513190550
ACCESSION NUMBER:		0001554855-22-000330
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		214
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220516
DATE AS OF CHANGE:		20220513

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cosan S.A.
		CENTRAL INDEX KEY:			0001430162
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40155
		FILM NUMBER:		22924647

	BUSINESS ADDRESS:	
		STREET 1:		AV. BRIGADEIRO FARIA LIMA
		STREET 2:		4100, 16TH FLOOR
		CITY:			SAO PAUO, SP
		STATE:			D5
		ZIP:			04538-132
		BUSINESS PHONE:		55-11-3897-9797

	MAIL ADDRESS:	
		STREET 1:		AV. BRIGADEIRO FARIA LIMA
		STREET 2:		4100, 16TH FLOOR
		CITY:			SAO PAUO, SP
		STATE:			D5
		ZIP:			04538-132

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Cosan S.A. Industria e Comercio
		DATE OF NAME CHANGE:	20080319
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>csan-20211231.htm
<DESCRIPTION>20-F
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</ix:header></div><div><div id="Normadiv1" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="text-align: center;">
<div style="border-top: #000000 3pt solid; line-height: 3px; border-bottom: #000000 1pt solid; font-size: 3pt; width: 100%; padding: 0in;">&#160;</div>
<p style="margin: 0px; text-align: center; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 14pt;">UNITED STATES</span><br/><span style="font-family: 'Times New Roman'; font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 12pt;">Washington, D.C. 20549</span></p>
<hr style="border-bottom-color: #000000; border-top-color: #000000; margin-right: auto; margin-left: auto; text-align: center; width: 15%;"></hr><span style="font-family: 'Times New Roman'; font-size: 16pt; font-weight: bold;">FORM <ix:nonNumeric contextRef="D20211231_5" name="dei:DocumentType" id="Tag7135">20-F</ix:nonNumeric></span>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0pt 0pt 54pt; text-indent: -36pt;"><span style="font-size: 10pt;"><span style="font-family: 'Segoe UI Symbol';"><span><span style="-sec-ix-hidden:Tag7193">&#9744;</span></span></span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-family: 'Times New Roman'; font-weight: bold;">REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES <span>EXCHANGE</span> ACT OF 1934&#160;</span></span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">OR</span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0pt 0pt 54pt; text-indent: -36pt;"><span style="font-size: 10pt;"><span style="font-family: 'Segoe UI Symbol';"><span><span style="-sec-ix-hidden:Tag7192">&#9746;</span></span></span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-family: 'Times New Roman'; font-weight: bold;">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934&#160;</span></span><br/><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-weight: bold;">For the<span>&#160;</span></span><span style="font-family: 'Times New Roman'; font-weight: bold;">fiscal<span>&#160;</span></span><span style="font-family: 'Times New Roman'; font-weight: bold;">year ended</span><span style="font-family: 'Times New Roman'; font-weight: bold;"><span>&#160;</span></span><span style="border-right: none; border-left: none;"><span style="font-family: 'Times New Roman'; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_5" name="dei:DocumentPeriodEndDate" id="Tag6803" format="ixt:date-monthname-day-year-en">December 31, 2021</ix:nonNumeric></span></span></span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">OR</span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0pt 0pt 54pt; text-indent: -36pt;"><span style="font-size: 10pt;"><span style="font-family: 'Segoe UI Symbol';"><span><span style="-sec-ix-hidden:Tag7191">&#9744;</span></span></span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-family: 'Times New Roman'; font-weight: bold;">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</span></span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 3pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">OR</span></p>
<p style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0pt 0pt 54pt; text-indent: -36pt;"><span style="font-size: 10pt;"><span style="font-family: 'Segoe UI Symbol';"><span><span style="-sec-ix-hidden:Tag7190">&#9744;</span></span></span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-family: 'Times New Roman'; font-weight: bold;">SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934&#160;&#160;</span></span><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-weight: bold;"><br/></span></span></p>
<hr style="border-bottom-color: #000000; border-top-color: #000000; margin-right: auto; margin-left: auto; text-align: center; width: 15%;"></hr>
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Commission file number: </span><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityFileNumber" id="Tag6816">001-40155</ix:nonNumeric></span></span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 16pt; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityRegistrantName" id="Tag6804">COSAN S.A.</ix:nonNumeric></span><br/><span style="font-family: 'Times New Roman'; font-size: 10pt;">(Exact name of Registrant as specified in its charter)</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">COSAN INC.</span><br/><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">(Translation of Registrant</span><span style="font-family: 'Times New Roman';">&#8217;</span><span style="font-family: 'Times New Roman';">s name into English)</span></span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><span style="-sec-ix-hidden:Tag7189">Federal Republic of Brazil</span></span><br/><span style="font-family: 'Times New Roman'; font-size: 10pt;">(Jurisdiction of incorporation or organization)</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityAddressAddressLine1" id="Tag6815">Av. Brigadeiro Faria Lima, 4,100 &#8211; 16th floor</ix:nonNumeric></span></span><br/><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityAddressCityOrTown" id="Tag6814">S&#227;o Paulo</ix:nonNumeric> &#8211; SP, <ix:nonNumeric contextRef="D20211231_5" name="dei:EntityAddressPostalZipCode" id="Tag6813">04538-132</ix:nonNumeric>, <span style="-sec-ix-hidden:Tag7187">Brazil</span></span><br/><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">+55 11 3897-9797</span><br/><span style="font-family: 'Times New Roman'; font-size: 10pt;">(Address of principal executive offices)</span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_BusinessContactMember" name="dei:ContactPersonnelName" id="Tag6806">Ricardo Lewin</ix:nonNumeric></span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_BusinessContactMember" name="dei:CityAreaCode" id="Tag6801">+55 11</ix:nonNumeric> <ix:nonNumeric contextRef="D20211231_BusinessContactMember" name="dei:LocalPhoneNumber" id="Tag6797">3897-9797</ix:nonNumeric></span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">ri@cosan.com</span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_BusinessContactMember" name="dei:EntityAddressAddressLine1" id="Tag6800">Av.&#160;Brigadeiro Faria Lima, 4,100 &#8211; 16th floor</ix:nonNumeric></span></span></p>
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric contextRef="D20211231_BusinessContactMember" name="dei:EntityAddressCityOrTown" id="Tag6802">S&#227;o Paulo</ix:nonNumeric> &#8211; SP, <ix:nonNumeric contextRef="D20211231_BusinessContactMember" name="dei:EntityAddressPostalZipCode" id="Tag6809">04538-132</ix:nonNumeric>, <span style="-sec-ix-hidden:Tag7188">Brazil</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Securities registered or to be registered pursuant to Section 12(b) of the Act:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 68px;" width="100%">
<tbody>
<tr style="height: 27px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 243.25pt; height: 27px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Title of each class</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 68.85pt; height: 27px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Trading Symbol</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 238.7pt; height: 27px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Name of each exchange on which registered</span></p>
</td>
</tr>
<tr style="height: 24px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 243.25pt; height: 24px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_AdrMember" name="dei:Security12bTitle" id="Tag6812">American depositary shares, each representing four common shares, no par value</ix:nonNumeric></span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 68.85pt; height: 24px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;"><ix:nonNumeric contextRef="D20211231_AdrMember" name="dei:TradingSymbol" id="Tag7115">CSAN</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 238.7pt; height: 24px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;"><span style="-sec-ix-hidden:Tag7186">New York Stock Exchange</span></span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 243.25pt; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_CommonSharesMember" name="dei:Security12bTitle" id="Tag6798">Common shares, no par value</ix:nonNumeric>*</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 68.85pt; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;">&#160;</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 238.7pt; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;"><span style="-sec-ix-hidden:Tag7185">New York Stock Exchange</span>*</span></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 4pt 18pt; text-indent: -18pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">*</span><span style="font-family: 'Times New Roman';">&#160; &#160; &#160; &#160;</span><span style="font-family: 'Times New Roman';">Not for trading purposes, but only in connection with the listing of American Depositary Shares pursuant to the requirements of the Securities and Exchange Commission.</span></span></p>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Securities registered or to be registered pursuant to Section 12(g) of the Act:&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">None</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">None</span></p>
<p style="margin: 0pt 0pt 10pt; break-after: avoid; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Indicate the number of outstanding shares of each of the issuer</span><span style="font-family: 'Times New Roman';">&#8217;</span><span style="font-family: 'Times New Roman';">s classes of capital or common stock as of the close of the period covered by the annual report.&#160;</span></span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><br/></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><br/></div>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; break-after: avoid; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">The number of outstanding </span><span style="font-family: 'Times New Roman';">shares as of December 31, 2021</span><span style="font-family: 'Times New Roman';"> was:</span></span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">
<tbody>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 56%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Title of Class</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 44%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-decoration: underline;">Number of Shares Outstanding</span></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 56%;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Common shares, no par value</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 44%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: normal;"><ix:nonFraction contextRef="I20211231" name="dei:EntityCommonStockSharesOutstanding" unitRef="Shares" id="Tag6817" decimals="0" format="ixt:num-dot-decimal">1,868,630,160</ix:nonFraction></span></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityWellKnownSeasonedIssuer" id="Tag6763">Yes</ix:nonNumeric> <span style="color: #000000; font-family: 'MS Gothic'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9746;</span></span><span style="font-family: 'Times New Roman';">&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</span><span style="font-family: 'Times New Roman';"><span style="border-right: none; border-left: none;">No</span> <span style="color: #000000; font-family: 'MS Gothic'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9744;</span></span></span></p>
<p style="margin: 0pt 0pt 6pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Yes </span><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityVoluntaryFilers" id="Tag6810">No</ix:nonNumeric> </span><span style="font-family: 'MS Gothic';">&#9746;</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Note</span><span style="font-family: 'Times New Roman';"> &#8211; Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.</span></span></p>
<p style="margin: 0pt 0pt 6pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</span></p>
<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityCurrentReportingStatus" id="Tag6805">Yes</ix:nonNumeric> </span><span style="font-family: 'MS Gothic';">&#9746;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';">No </span><span style="font-family: 'MS Gothic';">&#9744;</span></span></p>
<p style="margin: 0pt 0pt 5pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</span></p>
<p style="margin: 0pt 0pt 5pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityInteractiveDataCurrent" id="Tag6808">Yes</ix:nonNumeric> </span><span style="font-family: 'MS Gothic';">&#9746;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';">No </span><span style="font-family: 'MS Gothic';">&#9744;</span></span></p>
<p style="margin: 0pt 0pt 5pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Indicate by check mark whether the registrant is a </span><span style="font-family: 'Times New Roman';">large accelerated</span><span style="font-family: 'Times New Roman';"> filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of </span><span style="font-family: 'Times New Roman';">&#8220;</span><span style="font-family: 'Times New Roman';">large accelerated</span><span style="font-family: 'Times New Roman';"> filer,</span><span style="font-family: 'Times New Roman';">&#8221;</span><span style="font-family: 'Times New Roman';"> </span><span style="font-family: 'Times New Roman';">&#8220;</span><span style="font-family: 'Times New Roman';">accelerated filer,</span><span style="font-family: 'Times New Roman';">&#8221;</span><span style="font-family: 'Times New Roman';"> and </span><span style="font-family: 'Times New Roman';">&#8220;</span><span style="font-family: 'Times New Roman';">emerging growth company</span><span style="font-family: 'Times New Roman';">&#8221;</span><span style="font-family: 'Times New Roman';"> in Rule 12b-2 of the Exchange Act.</span></span></p>
<p style="font-size: 10pt; line-height: 90%; margin: 0pt 0pt 5pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:EntityFilerCategory" id="Tag6799">Large Accelerated Filer</ix:nonNumeric></span><span style="font-family: 'MS Mincho';"> <span style="color: #000000; font-family: 'MS Gothic'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9746;</span></span><span style="font-family: 'Times New Roman';">&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</span><span style="font-family: 'Times New Roman';">Accelerated Filer </span><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';"><span style="border-right: none; border-left: none;">Non-accelerated Filer</span> <span style="color: #000000; font-family: 'MS Gothic'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#9744;</span></span><span style="font-family: 'Times New Roman';">&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</span><span style="font-family: 'Times New Roman';">Emerging growth company </span><span style="font-family: 'MS Gothic';"><span style="border-right: none; border-left: none;"><span style="-sec-ix-hidden:Tag7184">&#9744;</span></span></span></span></p>
<p style="margin: 0pt 0pt 5pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#8224; provided pursuant to Section 13(a) of the Exchange Act. </span><span style="font-family: 'MS Gothic';">&#9744;</span></span></p>
<p style="margin: 0pt 0pt 5pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">&#8224; The term </span><span style="font-family: 'Times New Roman';">&#8220;</span><span style="font-family: 'Times New Roman';">new or revised financial accounting standard</span><span style="font-family: 'Times New Roman';">&#8221;</span><span style="font-family: 'Times New Roman';"> refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.</span></span></p>
<p style="margin: 0pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Indicate by check mark whether the registrant has filed a report on and attestation to its management</span><span style="font-family: 'Times New Roman';">&#8217;</span><span style="font-family: 'Times New Roman';">s assessment of the&#160;</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.&#160;</span><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">7262(b)) by the registered public accounting firm that prepared or issued its audit report.</span><span style="font-family: 'Times New Roman';"> </span><span style="font-family: 'MS Gothic';"><span style="-sec-ix-hidden:Tag7183">&#9746;</span></span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';"> </span></span></p>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 5pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:</span></p>
<p style="margin: 0pt 0pt 5pt 18pt; text-indent: 18pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';">U.S. GAAP</span></span></p>
<p style="margin: 0pt 0pt 5pt 18pt; text-indent: 18pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'MS Gothic';">&#9746;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';"><ix:nonNumeric contextRef="D20211231_5" name="dei:DocumentAccountingStandard" id="Tag6807">International Financial Reporting Standards</ix:nonNumeric> as issued by the International Accounting Standards Board</span></span></p>
<p style="margin: 0pt 0pt 5pt 18pt; text-indent: 18pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';">Other</span></span></p>
<p style="margin: 0pt 0pt 5pt; text-align: left;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">If </span><span style="font-family: 'Times New Roman';">&#8220;</span><span style="font-family: 'Times New Roman';">Other</span><span style="font-family: 'Times New Roman';">&#8221;</span><span style="font-family: 'Times New Roman';"> has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.</span></span></p>
<p style="margin: 0pt 0pt 5pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';"> Item 17</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';"> Item 18</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-size: 10pt;"><span style="font-family: 'Times New Roman';">Yes </span><span style="font-family: 'MS Gothic';">&#9744;</span><span style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman';">No </span><span style="font-family: 'MS Gothic';"><span style="-sec-ix-hidden:Tag7182">&#9746;</span></span></span></p>
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<p style="margin: 0pt 0pt 6pt; text-align: center;"><span style="text-decoration: underline;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-transform: uppercase;">table of contentS</span></span><span style="font-size: 10pt;">&#8203;</span></p>
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<p style="vertical-align: middle; text-align: center;"><span style="text-decoration: underline; font-size: 10pt; font-family: 'times new roman', times;">Page</span></p>
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<td id="BM_BA_VNWLVHCSV400000000000000000000" style="height: 17px; width: 90%;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BA_VNWLVHCSV400000000000000000000">Presentation of Financial and Other Information</a></span></td>
<td class="bmpageno" id="BMP_BA_VNWLVHCSV400000000000000000000" style="height: 17px; text-align: center; width: 10%;">iii</td>
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<td id="BM_BB_9CJQS5BLFK00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BB_9CJQS5BLFK00000000000000000000">Forward-Looking Statements</a></span></td>
<td class="bmpageno" id="BMP_BB_9CJQS5BLFK00000000000000000000" style="height: 17px; text-align: center;">vii</td>
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<td id="BM_BC_5PZADKOTBK00000000000000000000" style="height: 17px; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BC_5PZADKOTBK00000000000000000000">PART I</a></span></td>
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<td id="BM_BD_ZK63DW09TS00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BD_ZK63DW09TS00000000000000000000">Item 1. Identity of Directors, Senior Management and Advisers</a></span></td>
<td class="bmpageno" id="BMP_BD_ZK63DW09TS00000000000000000000" style="height: 17px; text-align: center;">1</td>
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<td id="BM_BE_G1C28JANKW00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BE_G1C28JANKW00000000000000000000">Item 2. Offer Statistics and Expected Timetable</a></span></td>
<td class="bmpageno" id="BMP_BE_G1C28JANKW00000000000000000000" style="height: 17px; text-align: center;">1</td>
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<td id="BM_BF_TQWPNF4RTS00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BF_TQWPNF4RTS00000000000000000000">Item 3. Key Information</a></span></td>
<td class="bmpageno" id="BMP_BF_TQWPNF4RTS00000000000000000000" style="height: 17px; text-align: center;">1</td>
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<td id="BM_BG_M7EV66NI2O00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BG_M7EV66NI2O00000000000000000000">A. Selected Financial Data</a></span></td>
<td class="bmpageno" id="BMP_BG_M7EV66NI2O00000000000000000000" style="height: 17px; text-align: center;">1</td>
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<td id="BM_BH_JSK1BDTXV400000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BH_JSK1BDTXV400000000000000000000">B. Capitalization and Indebtedness</a></span></td>
<td class="bmpageno" id="BMP_BH_JSK1BDTXV400000000000000000000" style="height: 17px; text-align: center;">3</td>
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<td id="BM_BI_91KTKJOSR400000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI_91KTKJOSR400000000000000000000">C. Reasons for the Offer and Use of Proceeds</a></span></td>
<td class="bmpageno" id="BMP_BI_91KTKJOSR400000000000000000000" style="height: 17px; text-align: center;">3</td>
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<td id="BM_BJ_AX02D290JK00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BJ_AX02D290JK00000000000000000000">D. Risk Factors</a></span></td>
<td class="bmpageno" id="BMP_BJ_AX02D290JK00000000000000000000" style="height: 17px; text-align: center;">4</td>
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<td id="BM_Bi4_JW6P6H54CW00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi4_JW6P6H54CW00000000000000000000">Item 4. Information on the Company</a></span></td>
<td class="bmpageno" id="BMP_Bi4_JW6P6H54CW00000000000000000000" style="height: 17px; text-align: center;">66</td>
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<td id="BM_BAA_SQTFKOZQZ400000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BAA_SQTFKOZQZ400000000000000000000">A. History and Development of the Company</a></span></td>
<td class="bmpageno" id="BMP_BAA_SQTFKOZQZ400000000000000000000" style="height: 17px; text-align: center;">66</td>
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<td id="BM_BBB_CFZF8NYN4G00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BBB_CFZF8NYN4G00000000000000000000">B. Business Overview</a></span></td>
<td class="bmpageno" id="BMP_BBB_CFZF8NYN4G00000000000000000000" style="height: 17px; text-align: center;">75</td>
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<td id="BM_BCC_94X9JXNBVK00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BCC_94X9JXNBVK00000000000000000000">C. Organizational Structure</a></span></td>
<td class="bmpageno" id="BMP_BCC_94X9JXNBVK00000000000000000000" style="height: 17px; text-align: center;">98</td>
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<td id="BM_BDD_UN3LSDOF4G00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BDD_UN3LSDOF4G00000000000000000000">D. Property, Plant and Equipment</a></span></td>
<td class="bmpageno" id="BMP_BDD_UN3LSDOF4G00000000000000000000" style="height: 17px; text-align: center;">98</td>
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<td id="BM_BEE_YEM90BJNOW00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BEE_YEM90BJNOW00000000000000000000">E. Supplemental Information About Joint Venture</a></span></td>
<td class="bmpageno" id="BMP_BEE_YEM90BJNOW00000000000000000000" style="height: 17px; text-align: center;">101</td>
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<td id="BM_B4A_85RC0IQPKW00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B4A_85RC0IQPKW00000000000000000000">Item 4A. Unresolved Staff Comments</a></span></td>
<td class="bmpageno" id="BMP_B4A_85RC0IQPKW00000000000000000000" style="height: 17px; text-align: center;">113</td>
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<td id="BM_BI5_8BSKLX0T7K00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI5_8BSKLX0T7K00000000000000000000">Item 5. Operating and Financial Review and Prospects</a></span></td>
<td class="bmpageno" id="BMP_BI5_8BSKLX0T7K00000000000000000000" style="height: 17px; text-align: center;">113</td>
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<td id="BM_BOR_ZICEATTXA800000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BOR_ZICEATTXA800000000000000000000">A. Operating Results</a></span></td>
<td class="bmpageno" id="BMP_BOR_ZICEATTXA800000000000000000000" style="height: 17px; text-align: center;">121</td>
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<td id="BM_Blcr_VKODXX1D1C00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Blcr_VKODXX1D1C00000000000000000000">B. Liquidity and Capital Resources</a></span></td>
<td class="bmpageno" id="BMP_Blcr_VKODXX1D1C00000000000000000000" style="height: 17px; text-align: center;">138</td>
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<td id="BM_Brd_ERU7Z8LDC000000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Brd_ERU7Z8LDC000000000000000000000">C. Research and Development, Patents, Licenses, etc.</a></span></td>
<td class="bmpageno" id="BMP_Brd_ERU7Z8LDC000000000000000000000" style="height: 17px; text-align: center;">146</td>
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<td id="BM_Bti_GMFDZT78NK00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bti_GMFDZT78NK00000000000000000000">D. Trend Information</a></span></td>
<td class="bmpageno" id="BMP_Bti_GMFDZT78NK00000000000000000000" style="height: 17px; text-align: center;">146</td>
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<td id="BM_BCAE_J0CMGBVD3400000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BCAE_J0CMGBVD3400000000000000000000">E. Critical Accounting Estimates</a></span></td>
<td class="bmpageno" id="BMP_BCAE_J0CMGBVD3400000000000000000000" style="height: 17px; text-align: center;">147</td>
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<tr style="height: 17px;">
<td id="BM_BI6_3AJU2HWEN400000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI6_3AJU2HWEN400000000000000000000">Item 6. Directors, Senior Management and Employees</a></span></td>
<td class="bmpageno" id="BMP_BI6_3AJU2HWEN400000000000000000000" style="height: 17px; text-align: center;">148</td>
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<td id="BM_Bada_5CSL5KXXPC00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bada_5CSL5KXXPC00000000000000000000">A. Directors and Senior Management</a></span></td>
<td class="bmpageno" id="BMP_Bada_5CSL5KXXPC00000000000000000000" style="height: 17px; text-align: center;">148</td>
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<td id="BM_BBC_582LV7L3UO00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BBC_582LV7L3UO00000000000000000000">B. Compensation</a></span></td>
<td class="bmpageno" id="BMP_BBC_582LV7L3UO00000000000000000000" style="height: 17px; text-align: center;">156</td>
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<td id="BM_BBP_9SHJOVSXPS00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BBP_9SHJOVSXPS00000000000000000000">C. Board Practices</a></span></td>
<td class="bmpageno" id="BMP_BBP_9SHJOVSXPS00000000000000000000" style="height: 17px; text-align: center;">157</td>
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<td id="BM_Bde_YPZ8XV32I800000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bde_YPZ8XV32I800000000000000000000">D. Employees</a></span></td>
<td class="bmpageno" id="BMP_Bde_YPZ8XV32I800000000000000000000" style="height: 17px; text-align: center;">159</td>
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<td id="BM_BESO_5ILH9EUIHS00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BESO_5ILH9EUIHS00000000000000000000">E. Share Ownership</a></span></td>
<td class="bmpageno" id="BMP_BESO_5ILH9EUIHS00000000000000000000" style="height: 17px; text-align: center;">159</td>
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<td id="BM_Bi7_M4NWRLBOFK00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi7_M4NWRLBOFK00000000000000000000">Item 7. Major Shareholders and Related Party Transactions</a></span></td>
<td class="bmpageno" id="BMP_Bi7_M4NWRLBOFK00000000000000000000" style="height: 17px; text-align: center;">163</td>
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<td id="BM_BAMS_PO9X904HPS00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BAMS_PO9X904HPS00000000000000000000">A. Major Shareholders</a></span></td>
<td class="bmpageno" id="BMP_BAMS_PO9X904HPS00000000000000000000" style="height: 17px; text-align: center;">163</td>
</tr>
<tr style="height: 17px;">
<td id="BM_BRPT_6QMJGFWWC000000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BRPT_6QMJGFWWC000000000000000000000">B. Related Party Transactions</a></span></td>
<td class="bmpageno" id="BMP_BRPT_6QMJGFWWC000000000000000000000" style="height: 17px; text-align: center;">170</td>
</tr>
<tr style="height: 17px;">
<td id="BM_BIOE_MLNB6D5EPC00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BIOE_MLNB6D5EPC00000000000000000000">C. Interests of Experts and Counsel</a></span></td>
<td class="bmpageno" id="BMP_BIOE_MLNB6D5EPC00000000000000000000" style="height: 17px; text-align: center;">170</td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI8_BDVKAX028000000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI8_BDVKAX028000000000000000000000">Item 8. Financial Information</a></span></td>
<td class="bmpageno" id="BMP_BI8_BDVKAX028000000000000000000000" style="height: 17px; text-align: center;">170</td>
</tr>
<tr style="height: 17px;">
<td id="BM_BAcs_X5OL9FH2Z400000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BAcs_X5OL9FH2Z400000000000000000000">A. Consolidated Statements and Other Financial Information</a></span></td>
<td class="bmpageno" id="BMP_BAcs_X5OL9FH2Z400000000000000000000" style="height: 17px; text-align: center;">170</td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bsc_EL745Q3CAO00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bsc_EL745Q3CAO00000000000000000000">B. Significant Changes</a></span></td>
<td class="bmpageno" id="BMP_Bsc_EL745Q3CAO00000000000000000000" style="height: 17px; text-align: center;">186</td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI9_8UTFQZS5F400000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI9_8UTFQZS5F400000000000000000000">Item 9. The Offer and Listing</a></span></td>
<td class="bmpageno" id="BMP_BI9_8UTFQZS5F400000000000000000000" style="height: 17px; text-align: center;">186</td>
</tr>
<tr style="height: 17px;">
<td id="BM_B9A_YUASS5SKNK00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B9A_YUASS5SKNK00000000000000000000">A. Offer and Listing Details</a></span></td>
<td class="bmpageno" id="BMP_B9A_YUASS5SKNK00000000000000000000" style="height: 17px; text-align: center;">186</td>
</tr>
<tr style="height: 17px;">
<td id="BM_B9B_SLKT5YAVNK00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B9B_SLKT5YAVNK00000000000000000000">B. Plan of Distribution</a></span></td>
<td class="bmpageno" id="BMP_B9B_SLKT5YAVNK00000000000000000000" style="height: 17px; text-align: center;">186</td>
</tr>
<tr style="height: 17px;">
<td id="BM_B9C_334NVG4Z0W00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B9C_334NVG4Z0W00000000000000000000">C. Markets</a></span></td>
<td class="bmpageno" id="BMP_B9C_334NVG4Z0W00000000000000000000" style="height: 17px; text-align: center;">186</td>
</tr>
<tr style="height: 17px;">
<td id="BM_B9D_NZM6NVIG8W00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B9D_NZM6NVIG8W00000000000000000000">D. Selling Shareholders</a></span></td>
<td class="bmpageno" id="BMP_B9D_NZM6NVIG8W00000000000000000000" style="height: 17px; text-align: center;">189</td>
</tr>
<tr style="height: 17px;">
<td id="BM_B9E_W55UJ1NJFK00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B9E_W55UJ1NJFK00000000000000000000">E. Dilution</a></span></td>
<td class="bmpageno" id="BMP_B9E_W55UJ1NJFK00000000000000000000" style="height: 17px; text-align: center;">189</td>
</tr>
<tr style="height: 17px;">
<td id="BM_B9F_VCV1EIIRDS00000000000000000000" style="height: 17px; padding: 0px 0px 0px 20px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B9F_VCV1EIIRDS00000000000000000000">F. Expenses of the Issue</a></span></td>
<td class="bmpageno" id="BMP_B9F_VCV1EIIRDS00000000000000000000" style="height: 17px; text-align: center;">189</td>
</tr>
</tbody>
</table>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt; margin: 0px; text-indent: 0px;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">i</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<br/>
<table id="TOC1" cellpadding="0" border="0" style="width: 100%; margin-left: 0.1px; height: 561px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 17px;">
<td id="BM_BI10_NV9SXRZ9KW00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI10_NV9SXRZ9KW00000000000000000000">Item 10. Additional Information</a></span></td>
<td class="bmpageno" id="BMP_BI10_NV9SXRZ9KW00000000000000000000" style="height: 17px; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;">189</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BASC_V64MZK6EMO00000000000000000000" style="width: 90%; padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BASC_V64MZK6EMO00000000000000000000">A. Share Capital</a></span></td>
<td class="bmpageno" id="BMP_BASC_V64MZK6EMO00000000000000000000" style="width: 10%; text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">189</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10B_PLP7ERSUDC00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10B_PLP7ERSUDC00000000000000000000">B. Memorandum and Articles of Association</a></span></td>
<td class="bmpageno" id="BMP_B10B_PLP7ERSUDC00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">189</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10C_KGFN3QSRPS00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10C_KGFN3QSRPS00000000000000000000">C. Material Contracts</a></span></td>
<td class="bmpageno" id="BMP_B10C_KGFN3QSRPS00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">199</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10D_C1D8JXGL5S00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10D_C1D8JXGL5S00000000000000000000">D. Exchange Controls</a></span></td>
<td class="bmpageno" id="BMP_B10D_C1D8JXGL5S00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">199</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10E_G5AR8RD9BK00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10E_G5AR8RD9BK00000000000000000000">E. Taxation</a></span></td>
<td class="bmpageno" id="BMP_B10E_G5AR8RD9BK00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">200</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10F_O9DR5MXI5C00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10F_O9DR5MXI5C00000000000000000000">F. Dividends and Paying Agents</a></span></td>
<td class="bmpageno" id="BMP_B10F_O9DR5MXI5C00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">208</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10g_56GOR66NTS00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10g_56GOR66NTS00000000000000000000">G. Statement by Experts</a></span></td>
<td class="bmpageno" id="BMP_B10g_56GOR66NTS00000000000000000000" style="text-align: center; height: 17px;"><span 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: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">208</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10H_OZEXCFCPSG00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10H_OZEXCFCPSG00000000000000000000">H. Documents on Display</a></span></td>
<td class="bmpageno" id="BMP_B10H_OZEXCFCPSG00000000000000000000" style="text-align: center; height: 17px;"><span 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: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">208</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B10i_CITP55SOCG00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B10i_CITP55SOCG00000000000000000000">I. Subsidiary Information</a></span></td>
<td class="bmpageno" id="BMP_B10i_CITP55SOCG00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">209</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI11_H4Z4RJ8SCW00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI11_H4Z4RJ8SCW00000000000000000000">Item 11. Quantitative and Qualitative Disclosures About Market Risk</a></span></td>
<td class="bmpageno" id="BMP_BI11_H4Z4RJ8SCW00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">209</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bi12_XCPRMXJTA800000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi12_XCPRMXJTA800000000000000000000">Item 12. Description of Securities Other Than Equity Securities</a></span></td>
<td class="bmpageno" id="BMP_Bi12_XCPRMXJTA800000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">213</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B12A_1WV2GOR6XS00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B12A_1WV2GOR6XS00000000000000000000">A. Debt Securities</a></span></td>
<td class="bmpageno" id="BMP_B12A_1WV2GOR6XS00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">213</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B12B_WNQQ0T9BCG00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B12B_WNQQ0T9BCG00000000000000000000">B. Warrants and Rights</a></span></td>
<td class="bmpageno" id="BMP_B12B_WNQQ0T9BCG00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">213</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B12C_SFP4T0CIUO00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B12C_SFP4T0CIUO00000000000000000000">C. Other Securities</a></span></td>
<td class="bmpageno" id="BMP_B12C_SFP4T0CIUO00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">213</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B12d_RUU7988ZSW00000000000000000000" style="padding: 0px 0px 0px 20px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B12d_RUU7988ZSW00000000000000000000">D. American Depositary Shares</a></span></td>
<td class="bmpageno" id="BMP_B12d_RUU7988ZSW00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">213</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BP2_NAZSPPVJSW00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BP2_NAZSPPVJSW00000000000000000000">PART II</a></span></td>
<td style="height: 17px; text-align: center;"><br/></td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bi13_GCWBFDPH3400000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi13_GCWBFDPH3400000000000000000000">Item 13. Defaults, Dividend Arrearages and Delinquencies</a></span></td>
<td class="bmpageno" id="BMP_Bi13_GCWBFDPH3400000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">216</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bi14_N3ESL7EEGW00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi14_N3ESL7EEGW00000000000000000000">Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds</a></span></td>
<td class="bmpageno" id="BMP_Bi14_N3ESL7EEGW00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">216</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bi15_88ZBW0UBN400000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi15_88ZBW0UBN400000000000000000000">Item 15. Controls and Procedures</a></span></td>
<td class="bmpageno" id="BMP_Bi15_88ZBW0UBN400000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">216</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI16A_RIDV5ADQ0W00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI16A_RIDV5ADQ0W00000000000000000000">Item 16A. Audit Committee Financial Expert</a></span></td>
<td class="bmpageno" id="BMP_BI16A_RIDV5ADQ0W00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">217</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI16b_D9O3R519W000000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI16b_D9O3R519W000000000000000000000">Item 16B. Code of Ethics</a></span></td>
<td class="bmpageno" id="BMP_BI16b_D9O3R519W000000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">217</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI16c_YAWGRZ3CY800000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI16c_YAWGRZ3CY800000000000000000000">Item 16C. Principal Accountant Fees and Services</a></span></td>
<td class="bmpageno" id="BMP_BI16c_YAWGRZ3CY800000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">218</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B16D_LBDGJCPU2800000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B16D_LBDGJCPU2800000000000000000000">Item 16D. Exemptions from the Listing Standards for Audit Committees</a></span></td>
<td class="bmpageno" id="BMP_B16D_LBDGJCPU2800000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">218</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B16E_ETCJMCMYV400000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B16E_ETCJMCMYV400000000000000000000">Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers</a></span></td>
<td class="bmpageno" id="BMP_B16E_ETCJMCMYV400000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">219</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B16F_683AXBTLDC00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B16F_683AXBTLDC00000000000000000000">Item 16F. Change in Registrant&#8217;s Certifying Accountant</a></span></td>
<td class="bmpageno" id="BMP_B16F_683AXBTLDC00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">219</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B16G_QSMDEST8SG00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B16G_QSMDEST8SG00000000000000000000">Item 16G. Corporate Governance</a></span></td>
<td class="bmpageno" id="BMP_B16G_QSMDEST8SG00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">220</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B16H_Z1KNRGI8Q800000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B16H_Z1KNRGI8Q800000000000000000000">Item 16H. Mine Safety Disclosure</a></span></td>
<td class="bmpageno" id="BMP_B16H_Z1KNRGI8Q800000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">220</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_B16I_9Z7U2V8OAO00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#B16I_9Z7U2V8OAO00000000000000000000">Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections&#160;</a></span></td>
<td class="bmpageno" id="BMP_B16I_9Z7U2V8OAO00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">220</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bp3_EJCP0N3CN400000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bp3_EJCP0N3CN400000000000000000000">PART III</a></span></td>
<td style="height: 17px; text-align: center;"><br/></td>
</tr>
<tr style="height: 17px;">
<td id="BM_Bi17_CQYWHF68CG00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#Bi17_CQYWHF68CG00000000000000000000">Item 17. Financial Statements</a></span></td>
<td class="bmpageno" id="BMP_Bi17_CQYWHF68CG00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">221</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI18_500MEBIXXS00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI18_500MEBIXXS00000000000000000000">Item 18. Financial Statements</a></span></td>
<td class="bmpageno" id="BMP_BI18_500MEBIXXS00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">221</span></td>
</tr>
<tr style="height: 17px;">
<td id="BM_BI19_ATY62HY8HC00000000000000000000" style="height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#BI19_ATY62HY8HC00000000000000000000">Item 19. Exhibits</a></span></td>
<td class="bmpageno" id="BMP_BI19_ATY62HY8HC00000000000000000000" style="text-align: center; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">221</span></td>
</tr>
</tbody>
</table>
<p><br/></p>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
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<div style="margin: 0px; break-after: avoid; text-align: center; text-indent: 0px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BA_VNWLVHCSV400000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-transform: uppercase;">Presentation of Financial and Other Information</span></a></div>
<p style="margin: 0px; break-after: avoid; text-align: center; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-transform: uppercase;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We present our consolidated financial statements in accordance with International Financial Reporting Standards, or &#8220;IFRS,&#8221; as issued by the International Accounting Standards Board, or &#8220;IASB,&#8221; for Securities and Exchange Commission, or &#8220;SEC,&#8221; filings.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements are presented in Brazilian <span style="font-style: italic;">reais</span>, the functional currency of Cosan S.A., or &#8220;Cosan&#8221; or &#8220;Cosan S.A.&#8221; and is the currency of the primary economic environment in which Cosan and its subsidiaries and jointly-controlled entities, located in Brazil, operate and generate and expend cash. The functional currency for the subsidiaries located outside Brazil is the U.S. dollar, British pound or the euro. Cosan S.A. and its subsidiaries are collectively referred to as the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Financial Statements</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We have included in this annual report: </span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the consolidated financial statements as of and for the year ended December 31, 2021 of Cosan S.A. Following the Merger (as defined under &#8220;&#8212;Certain Corporate Events&#8212;Our Corporate Reorganization&#8221; below), Cosan S.A. began consolidating the results of Cosan Log&#237;stica S.A., or &#8220;Cosan Log&#237;stica,&#8221; from March 1, 2021. We applied the predecessor accounting method to the consolidated financial statements of Cosan S.A. as of and for the year ended December 31, 2021 included in this annual report as a result of which such consolidated financial statements reflect:</span></li>
<li>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the assets and liabilities of Cosan S.A. at their historical cost;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the consolidated results of Cosan Limited prior the reorganization (i.e., for the months of January and February of 2021) succeeded by the consolidated results of Cosan S.A. following the Corporate Reorganization (i.e., from March 1 to December 31, 2021); and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan S.A.&#8217;s earnings per share for all periods presented. The number of ordinary shares issued by Cosan S.A. as a result of the Corporate Reorganization is reflected retroactively as of January 1, 2019, for purposes of calculating earnings per share in all prior periods presented.</span></li>
</ul>
</li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the consolidated financial statements as of and for the years ended December 31, 2020 and 2019 of Cosan Limited, the former parent company of Cosan and Cosan Log&#237;stica. Prior to the Merger, Cosan Limited was the parent company of the group composed of Cosan Limited, Cosan S.A., Cosan Log&#237;stica and their respective subsidiaries, or the &#8220;Cosan Group.&#8221; The combined effect of the exchange of shares in Cosan Limited for shares in Cosan S.A. and of&#160;Cosan S.A. becoming the sole holding company of our group as a result of Merger is that, in terms of financial presentation, it is as if Cosan Limited changed its name to Cosan S.A. with no further changes other than certain non-controlling interest amounts. Since the Merger was only approved on January 22, 2021 and completed in March 2021, for purposes of this annual report for the fiscal year ended December 31, 2020, we believe that the presentation of the consolidated financial statements of Cosan Limited, as the predecessor entity of the Cosan Group, provide investors the necessary financial information regarding the Cosan Group both before and after the Merger. Accordingly, we have included in this annual report the consolidated financial statements of Cosan Limited and its subsidiaries, as of December 31, 2020 and 2019 and for the years ended December 31, 2020 and 2019 as this consolidated financial information reflects the results of operation and financial position of the Cosan Group for all periods prior to the Merger and will be the historical comparative consolidated financial information of Cosan S.A. for such periods going forward. </span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All references herein to &#8220;our financial statements,&#8221; &#8220;our consolidated financial statements,&#8221; and &#8220;our audited consolidated financial statements&#8221; are to (i) Cosan S.A.&#8217;s consolidated financial statements as of and for the year ended December 31, 2021; and (ii) Cosan Limited&#8217;s consolidated financial statements as of and for the years ended December 31, 2020 and 2019.</span><br/></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Certain Corporate Events</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our Corporate Reorganization</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On January 22, 2021, the shareholders of Cosan Limited (the former parent company of Cosan and Cosan Log&#237;stica) and the shareholders of Cosan and Cosan Log&#237;stica approved an intra-group restructuring, announced on July 3, 2020 by Cosan, Cosan Limited and Cosan Log&#237;stica, consisting of a merger of companies under common control, as provided by art. 264, paragraph 4, of Brazilian Law No. 6,404, pursuant to which Cosan Limited and Cosan Log&#237;stica were merged into Cosan, or the &#8220;Merger.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Prior to the Merger, the Cosan Limited group formed an energy and logistics conglomerate which, when taken together with Ra&#237;zen, its Joint Venture (as defined further below) entities formed with Shell was active in fuel distribution, sugar, ethanol and bioenergy production, natural gas distribution, lubricants and railway-based logistics. Cosan Limited was a &#8220;foreign private issuer&#8221; in accordance with Rule 405 of the Securities Act. Cosan Limited&#8217;s class A common shares were registered with the SEC and listed on the NYSE under the ticker symbol &#8220;CZZ.&#8221; Cosan, Cosan Log&#237;stica and their respective subsidiaries were subsidiaries of Cosan Limited prior to the Merger. The Cosan S.A. group was active in fuel distribution, sugar, ethanol and bioenergy production (through Ra&#237;zen), natural gas distribution and lubricants. The Cosan Log&#237;stica group was active in railway-based logistics, through Rumo S.A., or &#8220;Rumo,&#8221; its only subsidiary. Both Cosan and Cosan Log&#237;stica were also publicly-traded on the B3 &#8211;Brasil, Bolsa, Balc&#227;o S.A., or the &#8220;B3,&#8221; on the special New Market (<span style="font-style: italic;">Novo Mercado</span>) segment under the ticker symbols &#8220;CSAN3&#8221; and &#8220;RLOG3&#8221; respectively.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As part of an effort to streamline our operations, we carried out the Merger to simplify our corporate structure by making Cosan the sole holding company of our group. The Merger simplified our corporate structure, unifying and consolidating the Cosan, Cosan Limited and Cosan Log&#237;stica free floats, in order to increase share liquidity, and unlock value within our group&#8217;s portfolio. As part of the Merger, each of Cosan Limited and Cosan Log&#237;stica were merged into Cosan. Following the completion of the Merger, the shares of Cosan Limited and Cosan Log&#237;stica outstanding prior to the merger were converted, pursuant to applicable exchange ratios, into Cosan S.A. American Depositary Shares, or &#8220;ADSs,&#8221; or into shares, as applicable, which are now directly owned by all shareholders of Cosan Limited, Cosan and Cosan Log&#237;stica as of immediately prior to the completion of the Merger. As part of the Merger, Cosan issued ADSs listed on the NYSE or common shares (as defined further below) listed under the&#160;<span style="font-style: italic;">Novo Mercado</span><span style="font-style: italic;">&#160;</span>segment of the B3 to the shareholders of Cosan Limited immediately prior to the approval of the Merger. As for Cosan Log&#237;stica, upon completion of the Merger, holders of Cosan Log&#237;stica shares immediately prior to the approval of the Merger became owners of Cosan common shares. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a result, Cosan is now the sole holding company of the Cosan Group, which continues the former activities of the Cosan S.A. and Cosan Log&#237;stica groups, namely fuel distribution, sugar, ethanol and bioenergy production (through Ra&#237;zen), natural gas distribution, lubricants and railway-based logistics. In addition to having ADSs listed on the NYSE under the symbol &#8220;CSAN,&#8221; Cosan remains publicly traded on the B3 on the special New Market (Novo Mercado) segment under the ticker symbol &#8220;CSAN3.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See &#8220;Item 4. Information on the Company&#8212;C. Organizational Structure,&#8221; for our simplified corporate structure as of the date of this annual report.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Consolidation of Ra&#237;zen </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On June 1, 2011, we and Shell Brazil Holdings B.V., or &#8220;Shell,&#8221; formed two joint ventures, or the &#8220;Joint Venture,&#8221; for a combined 50/50 investment, under the names Ra&#237;zen Combust&#237;veis S.A., or &#8220;Ra&#237;zen Combust&#237;veis&#8221; and Ra&#237;zen Energia e Participa&#231;&#245;es S.A. (currently Ra&#237;zen Energia S.A.), or &#8220;Ra&#237;zen Energia.&#8221; </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On June 1, 2021, Ra&#237;zen Combust&#237;veis and Ra&#237;zen Energia contributed all their respective common shares, as well as class A and D preferred shares and all shares issued by Ra&#237;zen Energia, in a capital increase of Ra&#237;zen Combust&#237;veis (with the exception of two common shares, each held by one of Cosan Investimentos e Participa&#231;&#245;es S.A., or &#8220;CIP,&#8221; and Shell Brasil Holding BV). On this date, Ra&#237;zen Energia also redeemed all of its own class B preferred shares. As a result, Ra&#237;zen Combust&#237;veis became the holder of the entire share capital of Ra&#237;zen Energia. As part of this corporate reorganization, Ra&#237;zen Combust&#237;veis S.A. changed its corporate name to Ra&#237;zen S.A. Following this corporate reorganization, Cosan S.A. and Shell terminated the Ra&#237;zen Energia shareholders&#8217; agreement and amended the Ra&#237;zen Combust&#237;veis shareholders&#8217; agreement in order to adapt its terms and conditions to the new corporate organization.</span><br/></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This reorganization was an internal corporate reorganization and did not by itself affect the combined businesses of Ra&#237;zen Combust&#237;veis and Ra&#237;zen Energia nor did it affect the respective holding interest of Cosan and Shell in Ra&#237;zen&#8217;s share capital. Accordingly, references to &#8220;Ra&#237;zen&#8221; refer, (i) prior to the corporate reorganization as a result of which Ra&#237;zen Energia became the direct wholly-owned subsidiary of Ra&#237;zen Combust&#237;veis, to Ra&#237;zen Energia and Ra&#237;zen Combust&#237;veis collectively, together with their respective consolidated subsidiaries; and (ii) following the corporate reorganization as a result of which Ra&#237;zen Energia became the direct wholly-owned subsidiary of Ra&#237;zen Combust&#237;veis, to Ra&#237;zen S.A. (the current corporate name of Ra&#237;zen Combust&#237;veis), together with its consolidated direct or indirect subsidiaries.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our management evaluates the results of Ra&#237;zen on the same basis as they are evaluated by the management of Ra&#237;zen, which is on a 100% basis. Accordingly, unless the context requires otherwise, operational information pertaining to Ra&#237;zen included in this annual report refers to 100% of the operations of these businesses. Upon the application of IFRS 11 Joint Arrangements, or &#8220;IFRS 11,&#8221; the Company retrospectively changed the accounting for its investments in Ra&#237;zen, classifying them as investments in joint ventures. As disclosed in &#8220;Item 5. Operating and Financial Review and Prospects,&#8221; following the adoption of IFRS 11, starting in April 2013. We no longer proportionally consolidate Ra&#237;zen in our consolidated statement of financial position, statement of profit or loss and comprehensive income and statement of cash flows, and the results of these investments have been presented using the equity method of accounting in accordance with IAS 28R&#8212;Investments in Associates and Joint Ventures. For additional information, see note 10 to our audited consolidated financial statements attached hereto.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Prior to the corporate reorganization of Ra&#237;zen completed on June 1, 2021, our senior management viewed Ra&#237;zen as two reportable operating segments whereby each of the legal entities (Ra&#237;zen Combust&#237;veis S.A. and Ra&#237;zen Energia S.A.) was considered to be a separate segment. Following the corporate reorganization of Ra&#237;zen, our senior management started to consider Ra&#237;zen as a single reportable segment. Accordingly, our previously reported segment information has been recast for all periods presented to reflect the changes in the reportable segments. For further information, see &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Ra&#237;zen,&#8221; &#8220;Item 4. Information on the Company&#8212;E. Supplemental Information About Joint Venture,&#8221; &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Financial Presentation and Accounting Policies&#8212;Business Segments and Presentation of Segment Financial Data&#8221; and note 5, &#8220;Segment Information,&#8221; to our audited consolidated financial statements for the fiscal years ended December 31, 2021, 2020 and 2019, included elsewhere in this annual report.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Gas and Power Segment</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On March 9, 2020, we announced the creation of &#8220;Gas and Power,&#8221; our new gas and power business segment of which Compass is the holding company and through which we now conduct our activities in the gas and power market. Our financial condition for the historical periods prior to January 1, 2020 discussed in this annual report does not reflect the creation of our Gas and Power segment, which was completed in 2020.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">S</span><span style="font-weight: bold;">pecial Note Regarding Non-GAAP Financial Measures</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This annual report presents our Net debt, which is a non-GAAP financial measure. A non-GAAP financial measure is generally defined as one that purports to measure financial performance but excludes or includes amounts that would not be so adjusted in the most comparable GAAP measure.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We calculate Net debt as current and non-current loans, borrowings and debentures <span style="font-style: italic;">plus</span> preferred shareholders payable in subsidiaries <span style="font-style: italic;">plus</span> cash and cash equivalents<span style="font-style: italic;"> plus</span> marketable securities<span style="font-style: italic;"> plus</span> derivatives on debt. Our calculation of Net debt may differ from the calculation of similarly titled measures used by other companies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our management believes that disclosure of Net Debt is useful to potential investors as it helps to give them a clearer understanding of our financial liquidity. Net Debt is also used to calculate certain leverage ratios. However, Net Debt is not a measure under IFRS and should not be considered as a substitute for measures of indebtedness determined in accordance with IFRS. For a reconciliation of Net debt to the most directly comparable IFRS measure, see &#8220;Item 3. Key Information&#8212;A. Selected Financial Data.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Market Data</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We obtained market and competitive position data, including market forecasts, used throughout this annual report from market research, publicly available information and industry publications, as well as internal surveys. We include data from reports prepared by LMC International Ltd., the Central Bank of Brazil (<span style="font-style: italic;">Banco Central do Brasil</span>), or the &#8220;Brazilian Central Bank,&#8221; the Sugarcane Agroindustry Association of the state of S&#227;o Paulo (<span style="font-style: italic;">Uni&#227;o da Agroind&#250;stria Canavieira de S&#227;o Paulo</span>), or &#8220;UNICA,&#8221; the Brazilian Ministry of Agriculture, Livestock, and Supply (<span style="font-style: italic;">Minist&#233;rio da Agricultura, Pecu&#225;ria e Abastecimento</span>), or &#8220;MAPA,&#8221; the Brazilian Institute of Geography and Statistics (<span style="font-style: italic;">Instituto Brasileiro de Geografia e Estat&#237;stica</span>), or &#8220;IBGE,&#8221; the Brazilian Ministry of Development, Industry and Foreign Trade (<span style="font-style: italic;">Minis</span><span style="font-style: italic;">t&#233;rio do Desenvolvimento e do Com&#233;rcio Exterior</span>), or &#8220;MDIC,&#8221; the Brazilian Ministry of Infrastructure (<span style="font-style: italic;">Minis</span><span style="font-style: italic;">t&#233;rio da Infraestrutura</span>), or &#8220;MI,&#8221; the Food and Agriculture Organization of the United Nations, or &#8220;FAO,&#8221; the National Traffic Agency (<span style="font-style: italic;">Departamento Nacional de Tr&#226;nsito&#8212;DENATRAN</span>), the Brazilian Association of Vehicle Manufactures (<span style="font-style: italic;">Associa&#231;&#227;o Nacional dos Fabricantes de Ve&#237;culos Automotores&#8212;ANFAVEA</span>), Datagro Publica&#231;&#245;es Ltda., F.O. Licht, Czarnikow, Apoio e Vendas Procana Comunica&#231;&#245;es Ltda., the S&#227;o Paulo Stock, Commodities and Futures Exchange (<span style="font-style: italic;">B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o</span>), or &#8220;B3,&#8221; the Brazilian Securities Commission (<span style="font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios</span>), or &#8220;CVM,&#8221; the International Sugar Organization, the Brazilian National Economic and Social Development Bank (<span style="font-style: italic;">Banco Nacional de Desenvolvimento Econ&#244;mico e Social</span>), or &#8220;BNDES,&#8221; the New York Board of Trade, or &#8220;NYBOT,&#8221; the New York Stock Exchange, or &#8220;NYSE,&#8221; the Brazilian Agricultural Research Corporation (<span style="font-style: italic;">Empresa Brasileira de Pesquisa Agropecu</span><span style="font-style: italic;">&#225;ria</span>), or &#8220;Embrapa,&#8221; the Brazilian Secretariat for Foreign Trade (<span style="font-style: italic;">Secretaria de Com&#233;rcio Exterior</span>), or &#8220;Secex,&#8221; the National Supply Company (<span style="font-style: italic;">Companhia Nacional de Abastecimento</span>), or &#8220;Conab,&#8221; the United States Department of Agriculture, or &#8220;USDA,&#8221; the London Stock Exchange, the National Agency of Petroleum, Natural Gas and Biofuels (<span style="font-style: italic;">ANP </span><span style="font-style: italic;">&#8211;</span><span style="font-style: italic;"> Ag&#234;ncia Nacional do Petr&#243;leo, G&#225;s Natural e Biocombust&#237;veis</span>), or &#8220;ANP,&#8221; the Brazilian Antitrust Authority (<span style="font-style: italic;">Conselho Administrativo de Defesa Econ&#244;mica</span>), or the &#8220;Brazilian Antitrust Authority,&#8221; the National Union of Distributors of Fuels and Lubricants (<span style="font-style: italic;">Sindicato Nacional das Empresas Distribuidoras de Combust&#237;veis e de Lubrificantes</span>), or &#8220;Sindicom,&#8221; the Sanitation and Energy Regulatory Agency for the state of S&#227;o Paulo (<span style="font-style: italic;">Ag&#234;ncia Reguladora de Energia de S&#227;o Paulo</span>), or &#8220;ARSESP,&#8221; the Brazilian Gas Distributors Association (<span style="font-style: italic;">Associa&#231;&#227;o Brasileira das Empresas Distribuidoras de G&#225;s</span>), or &#8220;ABEG&#193;S,&#8221; the Agriculture School of the University of S&#227;o Paulo (<span style="font-style: italic;">Escola Superior de Agricultura Luiz de Queiroz</span>), or &#8220;ESALQ,&#8221; the National Waterway Transportation Agency (<span style="font-style: italic;">Ag&#234;ncia Nacional de Transportes Aquavi&#225;rios</span>), or &#8220;ANTAQ,&#8221; the Brazilian Transportation Authority (<span style="font-style: italic;">Ag&#234;ncia Nacional de Transporte Terrestre</span>), or &#8220;ANTT,&#8221; <span style="font-style: italic;">Esta&#231;&#227;o da Luz Participa&#231;&#245;es</span>, or &#8220;EDLP,&#8221; the National Electric Energy Agency (<span style="font-style: italic;">Ag&#234;ncia Nacional de Energia El&#233;trica</span>), or &#8220;ANEEL,&#8221; and the Chamber of Electric Energy Commercialization (<span style="font-style: italic;">C&#226;mara de Comercializa&#231;&#227;o de Energia El&#233;trica</span>), or &#8220;CCEE.&#8221; We believe that all market data in this annual report is reliable, accurate and complete.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Terms Used in This Annual Report</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In this annual report, we present information in gallons, liters and cubic meters (m&#179; or cbm). In addition, we also present information in tons. In this annual report, references to &#8220;ton&#8221; or &#8220;tonne&#8221; refer to the metric tonne, which is equal to 1,000 kilograms.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All references in this annual report to &#8220;TSR&#8221; are to total sugar recovered, which represents the total amount of sugar content in a given quantity of sugarcane.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All references in this annual report to &#8220;RTK&#8221; mean revenue ton kilometer.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All references to the &#8220;<span style="font-style: italic;">real</span>,&#8221; &#8220;<span style="font-style: italic;">reais</span>&#8221; or &#8220;R$&#8221; are to the Brazilian <span style="font-style: italic;">real</span>, the official currency of Brazil. All references in this annual report to &#8220;U.S. dollars,&#8221; &#8220;dollars&#8221; or &#8220;U.S.$&#8221; are to U.S. dollars.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Rounding</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We have made rounding adjustments to reach some of the figures included in this annual report. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">vi</span></td>
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<p style="break-after: avoid; text-align: center; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-transform: uppercase;"><br/></span></p>
<div style="page-break-after: avoid; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BB_9CJQS5BLFK00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-transform: uppercase;">Forward-Looking Statements</span></a></div>
<p style="break-after: avoid; text-align: center; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; text-transform: uppercase;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This annual report contains estimates and forward-looking statements, mainly under &#8220;Item 3. Key Information&#8212;D. Risk Factors,&#8221; &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8221; and &#8220;Item 5. Operating and Financial Review and Prospects.&#8221; Some of the matters discussed concerning our business and financial performance include estimates and forward-looking statements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our estimates and forward-looking statements are mainly based on our current expectations and estimates on projections of future events and operating and financial trends, which affect or may affect our industry, market share, reputation, businesses, financial condition, results of operations, margins and/or cash flow. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties, are made in light of information currently available to us and should not be considered a guarantee of the results of operations we may achieve. Many significant factors in addition to those stated in this annual report may adversely affect our current estimates and forward-looking statements, and whether these estimates or statements may be realized. Our estimates and forward-looking statements may be influenced by the following factors, among others:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">general economic, political, demographic and business conditions in Brazil and in the world (including any impact resulting from the ongoing war between Russia and Ukraine) and the cyclicality affecting our selling prices, including, for example, inflation, interest rates, levels of employment, population growth, consumer confidence and liquidity in the credit, financial and capital markets;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the effects of global financial and economic crises in Brazil;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">our ability to implement our expansion strategy in other regions of Brazil and international markets through organic growth, acquisitions or Joint Ventures;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">our ability to successfully compete in all segments and geographical markets where we currently conduct business or may conduct businesses in the future;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">competitive developments in the segments in which we operate;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">our ability to implement our capital expenditure plan, including our ability to arrange financing when required and on reasonable terms;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">government intervention resulting in changes to the economy, taxes and tariffs, regulatory environment or regulation in Brazil, including the effects of tax reform in Brazil would explain the effect on dividends affecting the markets in which we operate;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">price of natural gas, ethanol and other fuels, as well as sugar;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">equipment failure and service interruptions;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">our ability to compete and conduct our businesses in the future;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">adverse weather conditions, including those related to climate change events causing physical and transition risks in the markets in which we operate;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in customer demand;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in our businesses;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">our ability to work together successfully with our partners to operate our partnerships (such as the Joint Venture);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">technological advances in the natural gas sector, including developments of natural gas for use in other applications, and advances in the development of alternatives to natural gas;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">technological advances in the ethanol sector and advances in the development of alternatives to ethanol;</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in global energy usage;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">government intervention and trade barriers, resulting in changes in the economy, taxes, rates, prices or regulatory environment including in relation to our regulated businesses such as Comg&#225;s and Rumo;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">inflation, depreciation, appreciation and depreciation of the <span style="font-style: italic;">real</span> against the U.S. dollar, which has experienced significant volatility since the beginning of the COVID-19 pandemic;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the political climate leading up to, and eventual outcome of, the 2022 presidential elections in Brazil;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the duration and severity of the 2019 novel coronavirus, or COVID-19, outbreak and its impacts on our business (see &#8220;Item 3. Key Information&#8212;D. Risk Factors<span style="font-weight: bold;">&#8212;</span>Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;Our business, operations and results may be adversely impacted by COVID-19,&#8221; &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;Impact of COVID-19&#8221; and &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Impact of COVID-19&#8221;);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">material weaknesses in our internal control over financial reporting;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">other factors that may affect our financial condition, liquidity and results of our operations; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">other risk factors discussed under &#8220;Item 3. Key Information&#8212;D. Risk Factors.&#8221;</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The words &#8220;believe,&#8221; &#8220;should,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;could,&#8221; &#8220;seek,&#8221; &#8220;aim,&#8221; &#8220;likely,&#8221; &#8220;will,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;expect&#8221; and other similar words used in this annual report are intended to identify estimates and forward-looking statements. Estimates and forward-looking statements speak only as of the date they were made, and we undertake no obligation to update or to review any estimate and/or forward-looking statement because of new information, future events or other factors. Estimates and forward-looking statements involve risks and uncertainties and are not guarantees of future performance. Our future results may differ materially from those expressed in these estimates and forward-looking statements. In light of the risks and uncertainties described above, the estimates and forward-looking statements discussed in this annual report might not occur and our future results and our performance may differ materially from those expressed in these forward-looking statements due to but not limited to, the factors mentioned above. Because of these uncertainties, you should not make any investment decision based on these estimates and forward-looking statements.&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">viii</span></td>
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<div style="margin-top: 5pt; break-after: avoid; text-align: center; text-indent: 0px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BC_5PZADKOTBK00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">PART I</span></a></div>
<div style="margin: 6pt 0pt 6pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BD_ZK63DW09TS00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Item 1. Identity of Directors, Senior Management and Advisers</span></a></div>
<p style="margin: 0pt 0pt 6pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 6pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BE_G1C28JANKW00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Item 2. Offer Statistics and Expected Timetable</span></a></div>
<p style="margin: 0pt 0pt 6pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 6pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BF_TQWPNF4RTS00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Item 3. Key Information</span></a></div>
<div style="margin: 0pt 0pt 6pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BG_M7EV66NI2O00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">A. Selected Financial Data</span></a></div>
<p style="margin: 0pt 0pt 6pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following tables present selected historical financial and operating data for the Company derived from our audited consolidated financial statements. You should read the following information in conjunction with our audited consolidated financial statements and related notes, and the information under &#8220;Item 5. Operating and Financial Review and Prospects&#8221; in this annual report.</span></p>
<p style="margin: 0pt 0pt 6pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The financial data at and for the fiscal years ended December 31, 2021, 2020 and 2019 have been derived from our audited consolidated financial statements prepared in accordance with IFRS as issued by the IASB, unless otherwise stated.</span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">As of and for the</span><span style="font-weight: bold;"> </span><span style="font-weight: bold;">fiscal year ended</span><span style="font-weight: bold;"> </span><span style="font-weight: bold;">December 31,</span></span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">2021</span><span style="font-weight: bold;">(</span><span style="font-weight: bold;">1</span><span style="font-weight: bold;">)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
</tr>
<tr style="height: 15px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px;">
<p style="line-height: 9pt; margin: 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">(in millions of </span><span style="font-style: italic; font-weight: bold;">reais</span><span style="font-weight: bold;">, except where otherwise indicated)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated Profit or Loss Data:</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 65%;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net sales&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">25,865.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">20,437.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">20,611.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cost of sales(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(19,864.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(14,999.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(14,617.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,000.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,438.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,994.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Selling expenses(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(723.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(661.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(666.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">General and administrative expenses<span 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: -12.4667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,572.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,589.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,236.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other income (expense), net&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">382.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">176.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">404.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total operations expenses&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,913.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(2,074.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,497.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Profit before equity in earnings of investees, finance results and taxes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,087.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,363.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,496.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Equity in earnings of investees&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,720.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">611.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,132.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Finance results, net&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(2,557.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,984.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,967.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Profit before taxes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,250.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,991.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,661.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Income taxes:</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Current&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(787.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(941.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,000.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,233.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">438.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">220.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">445.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(502.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(779.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Profit from continuing operations&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,696.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,488.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,882.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Profit (loss) from discontinued operation, net of tax&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Profit for the year&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,696.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,488.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,893.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net income attributable to non-controlling interests&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(384.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(628.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,577.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Profit attributable to owners of the Company (including discontinued operations)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,312.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">859.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,316.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated Statement of Financial Position Data:</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16,174.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">13,642.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">8,472.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marketable securities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,388.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,669.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,115.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Inventories&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,149.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">935.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">787.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Right-of-use assets&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7,947.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7,916.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,469.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Property, plant and equipment&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16,648.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14,068.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12,153.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Intangible assets and goodwill&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">17,781.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">17,308.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16,843.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total assets&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">97,842.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">83,713.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">65,717.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Current liabilities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12,957.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12,547.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">8,917.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Non-current liabilities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">56,015.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">50,347.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">40,560.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Loans, borrowings and debentures&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">45,659.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">42,249.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">29,052.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Preferred shareholders payable in subsidiaries&#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">387.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">611.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt; font-size: 5pt;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;</span></p>
</div>
<div style="margin: 0px; text-indent: 0px;">
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">1</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<br/>
<table cellpadding="0" style="height: 493px; border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px; width: 100%;" width="100%">
<thead>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">As of and for the</span><span style="font-weight: bold;"> </span><span style="font-weight: bold;">fiscal year ended</span><span style="font-weight: bold;"> </span><span style="font-weight: bold;">December 31,</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">2021</span><span style="font-weight: bold;">(</span><span style="font-weight: bold;">1</span><span style="font-weight: bold;">)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
</tr>
<tr style="height: 15px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px;">
<p style="line-height: 9pt; margin: 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">(in millions of </span><span style="font-style: italic; font-weight: bold;">reais</span><span style="font-weight: bold;">, except where otherwise indicated)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provision for legal proceedings&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,644.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,360.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,354.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Equity attributable to owners of the Company&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14,740.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,260.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,401.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Equity attributable to non-controlling interests&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14,129.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; vertical-align: bottom; padding-right: 0px; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">15,558.8</span></p>
</td>
<td style="padding-left: 0px; vertical-align: bottom; padding-right: 0px; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; vertical-align: bottom; padding-right: 0px; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10,838.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total shareholders&#8217; equity&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">28,870.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">20,818.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16,240.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated Other Financial Data:</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 65%;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation and amortization&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 10%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,504.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 10%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,340.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 10%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,287.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net debt(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">21,440.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">17,629.8</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14,332.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Working capital(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14,336.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10,887.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7,074.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash flow provided by (used in):</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br/></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Operating activities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,147.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,656.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,296.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investing activities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(5,446.8</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(4,523.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(130.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financing activities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,319.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,686.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,558.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Basic earnings per share from continuing operations(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 3.44</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.47</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.71</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Diluted earnings per share from continuing operations(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 3.43</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.46</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.71</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Basic earnings/(loss) per share from discontinued operations(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.05</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Diluted earnings/(loss) per share from discontinued operations(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.05</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Number of shares outstanding(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,868,630,160</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,868,630,160</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,868,630,160</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Declared dividends (millions of <span style="font-style: italic;">reais</span>)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,028.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,514.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">243.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Declared dividends (millions of U.S. dollars)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 503.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 375.6</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 60.4</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
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<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Declared dividends per share (<span style="font-style: italic;">reais</span>)<span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -12.4667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(5)</span> </span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; R$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1.0858</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; R$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 6.3498</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160; R$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1.0969</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Declared dividends per share (U.S. dollars)<span 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: -12.4667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(5)</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0.2694</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1.5754</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 0.2721</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Other Operating Data:</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Crushed sugarcane (in million tons)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">54.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">61.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">59.8</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sugar production (in million tons)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.8</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ethanol production (in billion liters)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Volume of fuel sold (in million liters)(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">33,178.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">29,229.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">33,625.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Volume loaded (Rumo) (in million tons)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
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<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.4</span></p>
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<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.2</span></p>
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<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transported volume (Rumo) (in million TKU)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">64,028.0</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">62,458.4</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">60,096.3</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
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<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Natural gas (Comg&#225;s) (in million m&#179;)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,859.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,229.4</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,512.4</span></p>
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<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Volume of finished goods and base oil sold (in million liters)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">388.7</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">398.4</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">397.7</span></p>
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<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff;"><br/></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">2</span></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: 2%; height: 34px; vertical-align: top; text-align: center;" valign="top"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="width: 98%; height: 34px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Following the Merger,<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. began consolidating the results of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span>Log&#237;stica<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>from March 1, 2021. As a result, the financial information of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. as of and for the year ended December 31, 2021 used the predecessor accounting method. See &#8220;Presentation of Financial and Other<span>&#160;</span></span>Information&#8212;Financial<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>Statements.&#8221;</span></td>
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<td style="height: 51px; vertical-align: top; text-align: center;" valign="top"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)&#160;</span></td>
<td style="height: 51px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In the first quarter of 2022, we revised our intangible asset policy for natural gas distribution concession contracts and reclassified the balances of amortization expenses from selling, general and administrative&#160;expenses to cost of sales for the years ended December 31, 2021, 2020 and 2019. This reclassification does not impact regulatory margins or key indicators used by us. Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation.</span></td>
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<td style="height: 34px; vertical-align: top; text-align: center;" valign="top"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</span></td>
<td style="height: 34px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Net debt consists of current and non-current debt (including preferred shareholders payable in subsidiaries), net of cash and cash equivalents, marketable securities and derivatives on debt recorded in our consolidated financial statements as other non-current assets. Net debt is a non-GAAP measure.</span></td>
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<td style="height: 17px; vertical-align: top; text-align: center;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(4)</span></td>
<td style="height: 17px; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Working capital consists of total current assets less total current liabilities.</span></td>
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<td style="height: 34px; vertical-align: top; text-align: center;" valign="top"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(5)</span></td>
<td style="height: 34px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Reflects the Merger and the stock split undertaken on April 30, 2021 for all years presented as if it had occurred on January 1, 2019. For more information about the Merger and the stock split, see &#8220;Item 4. Information on the<span>&#160;</span></span>Company&#8212;A<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. History and Development of the<span>&#160;</span></span>Company&#8212;History<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.&#8221;</span></td>
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<td style="height: 17px; vertical-align: top; text-align: center;" valign="top"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(6)</span></td>
<td style="height: 17px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Starting from 2015 the reported volumes are based on a methodology developed by<span>&#160;</span></span>Sindicom<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>(</span><span 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-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Sindicato<span>&#160;</span>Nacional<span>&#160;</span>das<span>&#160;</span>Empresas<span>&#160;</span>Distribuidoras<span>&#160;</span>de<span>&#160;</span>Combust&#237;veis<span>&#160;</span>e de<span>&#160;</span>Lubrificantes</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), an association of fuel distributors, which excludes volumes sold to other distributors.</span></td>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The information in the table below presents a reconciliation of Net debt, a non-GAAP financial measure, the most directly comparable IFRS financial measure. Our calculation of Net debt may differ from the calculation of similarly titled measures used by other companies. Our management believes that disclosure of Net Debt is useful to potential investors as it helps to give them a clearer understanding of our financial liquidity. Net Debt is also used to calculate certain leverage ratios. However, Net Debt is not a measure under IFRS and should not be considered as a substitute for measures of indebtedness determined in accordance with IFRS.</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 33.8512%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">As of December 31,</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 9.97547%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 9.97547%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 9.97547%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
</tr>
<tr style="height: 16px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; width: 64.9223%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; border-bottom-width: 1px; width: 33.8512%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">(in millions of </span><span style="font-style: italic; font-weight: bold;">reais</span><span style="font-weight: bold;">, except where otherwise indicated)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; width: 0.981194%;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Current loans, borrowings and debentures&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,241.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,929.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,518.2</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; text-align: left; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Non-current loans, borrowings and debentures&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">41,417.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">37,320.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">25,534.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; text-align: left; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Preferred shareholders payable in subsidiaries&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">387.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">611.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; text-align: left; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">45,659.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">42,636.4</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">29,663.7</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; text-align: left; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(16,174.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(13,642.9</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(8,472.3</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marketable securities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(4,388.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 17px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3,669.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3,115.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(20,562.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(17,312.0</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 10px; background-color: #cceeff; width: 9.97547%;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(11,587.8</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 10px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; width: 64.9223%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Derivatives on debt, net&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 19px; border-bottom: 1px solid #000000; width: 9.97547%;">
<p style="margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3,656.8</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; margin: 0px; text-indent: 0px; height: 19px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; margin: 0px; text-indent: 0px; height: 19px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 19px; border-bottom: 1px solid #000000; width: 9.97547%;">
<p style="margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(7,694.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 19px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 19px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 19px; border-bottom: 1px solid #000000; width: 9.97547%;">
<p style="margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3,743.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 19px; text-align: left; width: 0.981194%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 64.9223%;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Net debt(</span><span style="font-weight: bold;">1</span><span style="font-weight: bold;">)</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.97547%;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">21,440.1</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 20px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 20px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.97547%;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">17,629.8</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 20px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 20px; width: 0.981194%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.97547%;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">14,332.5</span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 20px; text-align: left; width: 0.981194%;"><br/></td>
</tr>
</tbody>
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<tbody>
<tr>
<td style="width: 10%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><br/></td>
<td style="width: 90%;"><br/></td>
</tr>
</tbody>
</table>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 2%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="width: 98%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company&#8217;s covenants consider preferred shareholders payable in subsidiaries in the calculation of net debt.</span></td>
</tr>
</tbody>
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<p style="margin: 0pt 0pt 4.5pt 18pt; text-indent: -18pt;"><span style="font-size: 10pt;">&#160;</span><br/></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BH_JSK1BDTXV400000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">B. Capitalization and Indebtedness</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI_91KTKJOSR400000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">C. Reasons for the Offer and Use of Proceeds</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Not applicable.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">3</span></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 0pt 10pt; page-break-after: avoid;"><br/></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BJ_AX02D290JK00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">D. Risk Factors</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This section is intended to be a summary of more detailed discussion contained elsewhere in this annual report. Our business, financial condition or results of operations could be materially and adversely affected by any of the risks and uncertainties described below. As a result, the market price of our common shares and ADSs could decline, and you could lose all or part of your investment. Additional risks not presently known to us, or that we currently deem immaterial, may also impair our financial condition and business operations</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Summary of Risk Factors</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This section is intended to be a summary of more detailed discussions contained elsewhere in this annual report. The risks described below are not the only ones we face. Our business, results of operations or financial condition could be harmed if any of these risks materializes and, as a result, the trading price of our common shares and our ADSs could decline.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Summary</span><span style="font-style: italic; font-weight: bold;"> of Risks Related to </span><span style="font-style: italic; font-weight: bold;">Our Businesses and the Industries in Which We Operate Generally</span></span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">The </span><span style="font-style: italic;">ongoing war between Russia and Ukraine may have a material adverse effect on the global and Brazilian economies as well as on us. </span>The event has provoked strong reactions from the United States, the UK, the European Union, or the &#8220;EU,&#8221; and various other countries around the world, including from the members of the North Atlantic Treaty Organization, or &#8220;NATO.&#8221; As a company that operates globally, the adverse effects&#8212;global or localized&#8212;of the ongoing conflict between Russia and Ukraine, and/or economic sanctions and import and/or export controls to be imposed by the United States, the UK, the EU or others, could materially affect our business, financial condition and results of operations.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Our business, operations and results may be adversely impacted by COVID-19</span>. The effects of the COVID-19 pandemic are ongoing, and its continuation or a resurgence could precipitate or aggravate the other risk factors identified in this annual report on Form 20-F, which in turn could further materially and adversely affect our business, financial condition, liquidity, results of operations and profitability, including in ways not currently known or considered by us to present material risks.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">We may be unable to implement our growth strategy successfully</span>. Our future growth and financial performance depends, in part, on the successful implementation of our business strategy. Our failure to achieve any of these objectives and/or strategies as a result of competitive difficulties, cost increases or restrictions on our ability to invest, among others, may limit our ability to implement our growth strategy successfully.</span></li>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">4</span></td>
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</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Government policies and regulation</span><span style="font-style: italic;">s</span><span style="font-style: italic;"> could have a material adverse effect on our operations and profitability</span>. Government policies in Brazil and elsewhere, in each case whether at the federal, state or local level, may adversely affect the supply, and demand for, and prices of, our products or restrict our ability to do business in our existing and target markets, which could adversely affect our financial performance.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">We depend on our information technology systems</span>. Any failure of our information technology systems to operate effectively or integrate with other systems, or inadequate performance of, or breaches of security regarding such systems could result in interruptions in the availability of our online resources, delays in delivering products or services and reduced efficiency in our operations. Furthermore, we were the target of a cybersecurity incident which disrupted our systems. We could be the target of attempted cyber threats in the future and they could adversely affect our business.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">A m</span><span style="font-style: italic;">aterial weakness in our internal control over financial reporting ha</span><span style="font-style: italic;">s</span><span style="font-style: italic;"> been identified, and </span><span style="font-style: italic;">if we fail to remediate such material </span><span style="font-style: italic;">weakness (and any other ones) and to maintain effective internal controls</span><span style="font-style: italic;"> over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations and/or prevent fraud</span>. In connection with the preparation of the audited consolidated financial statements as of and for the year ended December 31, 2021, we identified evidence of internal control deficiencies which, when aggregated, have been classified as a material weakness in our internal controls over financial reporting. Although this material weakness did not result in actual misstatements as certain mitigating actions were taken by our management to complete the analysis of our financial reporting prior to year-end, this material weakness, if not mitigated, could have resulted in a reasonable possibility that a material misstatement of our consolidated financial statements would not be prevented or detected on a timely basis in future periods.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Our debt level could adversely affect our financial health and prevent us from fulfilling our debt obligations</span>. We are bound to comply with obligations that require us to: (1)&#160;reserve a substantial part of our operational cash flows to pay principal and interest on our debt, which will reduce the availability of our cash flow to fund working capital, capital expenditures, acquisitions and investments; (2)&#160;limit our flexibility in planning for, or reacting to, changes in our business and the industries in which we operate; and (3)&#160;limit our ability to borrow additional funds, obtain bank guarantees or collateral insurance and generally increase our borrowing costs. Such obligations may place us at a competitive disadvantage compared to our competitors that have less debt and reduces our ability to raise capital to finance our investments and operations, which could adversely impact our ability to recover from economic changes. Furthermore, we may be unable to comply with restrictive covenants under our financing agreements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Our controlling group holds 672</span><span style="font-style: italic;">,</span><span style="font-style: italic;">312</span><span style="font-style: italic;">,</span><span style="font-style: italic;">942 </span><span style="font-style: italic;">or 35.</span><span style="font-style: italic;">87</span><span style="font-style: italic;">%</span><span style="font-style: italic;"> of our common shares and voting rights</span>. The ultimate controlling shareholder is the chairman of the board and has the power to indirectly control the Company. Furthermore, we are highly dependent on our chairman and other members of our management to develop and implement our strategy and to oversee our operations. If we lose key personnel, our business, financial condition and results of operations may be adversely affected.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Our business would be materially adversely affected if operations at our transportation and distribution facilities experienced significant interruptions</span>. The distribution of fuels, natural gas and other products is by its nature subject to inherent risks, including interruptions or disturbances in the distribution system which may be caused by accidents or force majeure events. Our operations are dependent upon the uninterrupted operation of our terminals and storage facilities and various means of transportation and distribution facilities. Our business would also be materially adversely affected if the operations of our customers and suppliers experienced significant interruptions.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">The production of lubricants, natural gas transportation and the storage and transportation of fuel products and lubricant products are inherently hazardous</span>. The complex manufacturing operations performed as part of our operations involve a variety of safety and other operating risks, including the handling, production, storage and transportation of toxic materials, which could result in personal injury and death, severe damage to or destruction of property and equipment and environmental damage. Furthermore, fire and other disasters could affect our agricultural and manufacturing properties and our facilities and distribution networks, which would have a material adverse effect on our production and distribution volumes and, consequently, results of operations.</span></li>
</ul>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">5</span></td>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Changes in taxes and other assessments may adversely affect us</span>. The Brazilian government regularly implements changes to tax regimes that may increase the tax burden on us, our subsidiaries and jointly-controlled entities and their respective customers. These changes include modifications in the rate of assessments and the enactment of new or temporary taxes, the proceeds of which are earmarked for designated governmental purposes. Accordingly, the modification, suspension, cancellation or non-renewal of our tax benefits could have a material adverse effect on us.</span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Summary of Risks Related to Our American Depositary Shares and Our Common Shares</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Our ADSs may not be as liquid as our common shares</span>. Some companies that have issued ADSs on U.S. stock exchanges have experienced lower levels of liquidity in their American depositary shares than is the case for their equity securities listed on their domestic exchange. There is a possibility that our ADSs, listed on the NYSE, will be less liquid than our common shares listed on the&#160;B3. Furthermore, our maintenance of two exchange listings may adversely affect liquidity in the market for our common shares and ADSs and result in pricing differentials between the two exchanges.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Holders of our ADSs do not have the same voting rights as our shareholders</span>.<span style="font-style: italic;"> Furthermore, </span><span style="font-style: italic;">holders of our ADSs may </span><span style="font-style: italic;">face difficulties in serving process on or enforcing judgments against us and other persons</span>. Holders of our ADSs may not be able to give voting instructions to the Depositary, withdraw our common shares underlying their ADSs to vote such shares in person, virtually or by proxy, to exercise the preemptive rights relating to the common shares, or receive dividends or interest on own capital. Furthermore, we are organized under, and are subject to, the laws of Brazil, and substantially all our directors and executive officers and our independent registered public accounting firm reside or are based in Brazil. As a result, it may not be possible for holders of the ADSs to effect service of process upon us or these other persons within the United States or other jurisdictions outside Brazil or to enforce against us or these other persons judgments obtained in the United States or other jurisdictions outside Brazil. Furthermore, judgments of Brazilian courts with respect to our shares will be payable only in <span style="font-style: italic;">reais</span>.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">The market price of our common shares and ADSs may be volatile. </span>Broad general economic, political, market and industry factors may adversely affect the market price of our common shares and ADSs, regardless of our actual operating performance. Furthermore, the relative volatility and illiquidity of the Brazilian securities markets may adversely affect holders of our common shares and ADSs.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">We are a foreign private issuer and, as a result, in accordance with the listing requirements of the NYSE, we rely on certain home country governance practices from Brazil, rather than the corporate governance requirements of the NYSE.</span><span style="font-style: italic;"> </span>The standards that are applicable to us are considerably different than the standards applied to U.S. domestic issuers. For instance, we are not required to: (1) have a majority of independent members on our board of directors (other than as may result from the requirements for audit committee member independence under the U.S. Securities Exchange Act of 1934, as amended, or the &#8220;Exchange Act&#8221;); (2) have a minimum of three independent members on our audit committee; (3) have a compensation committee or a nominating and corporate governance committee; or (4) have regularly scheduled executive sessions of our board that consist of independent directors only. </span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Summary of </span><span style="font-style: italic; font-weight: bold;">Risks Related to the Countries in Which We Operate</span></span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Our international operations expose us to political and economic risks in other countries.</span> Our international activities expose us to risks not faced by companies that operate solely in Brazil. The realization of any of these risks may materially adversely affect our business, results of operations or financial condition.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Historically, the Brazilian government has influenced and continues to influence </span><span style="font-style: italic;">the economy of Brazil</span><span style="font-style: italic;">, which may negatively affect our business and financial performance</span>. Future governmental policy and regulations may adversely affect our operations and profitability. Furthermore, 2022 is a presidential election year in Brazil. Historically, in election years, especially presidential elections, foreign investments in the country decrease and political uncertainty generates greater instability and volatility in the domestic market, which may adversely affect our business and results of operations.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">The Brazilian political environment has historically influenced and continues to influence the performance of the country&#8217;s economy and the confidence of investors and the general public, resulting in an economic </span><span style="font-style: italic;">slowdown and increased volatility in securities issued by Brazilian companies.</span> The Brazilian economy has been and continues to be affected by political events in Brazil, which have also had an impact on the confidence of investors and the general public, adversely affecting the performance of the Brazilian economy and increasing the volatility and lack of liquidity in the Brazilian capital market of securities issued by Brazilian companies. Recently, Brazil has undergone high levels of political and economic volatility and instability, including the contraction of its gross domestic product, strong fluctuations of the <span style="font-style: italic;">real</span> against the U.S. dollar, increased unemployment, and lower levels of spending and consumer confidence. These issues may be exacerbated by the Brazilian presidential election to be held in October 2022.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Significant volatility in the value of the</span><span style="font-style: italic;"> Brazilian</span><span style="font-style: italic;"> </span><span style="font-style: italic;">r</span><span style="font-style: italic;">eal</span><span style="font-style: italic;"> in relation to the U.S. dollar could harm our ability to meet our U.S. dollar-denominated liabilities.</span><span style="font-style: italic;"> </span>Due to inflationary pressures and adjustments to economic policy, the Brazilian currency has historically experienced volatility against the U.S. dollar and other foreign currencies. Because our subsidiaries and jointly controlled entities generally invoice their sales in <span style="font-style: italic;">reais</span>, devaluation of the <span style="font-style: italic;">real</span> against foreign currencies may generate losses from our foreign currency-denominated liabilities as well as an increase in our funding costs with a negative impact on our ability to finance our operations through access to the international capital markets and on the market value of the shares.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">If we do not successfully comply with laws and regulations designed to prevent governmental corruption in countries in which we operate and sell our products (notably Brazil), we could become subject to fines, penalties or other regulatory sanctions, which could cause our sales and profitability to be materially reduced.</span> Any breach of anti-corruption laws may have a material adverse effect on our business, financial condition and results of operations, including access to financing, as well as the acceleration of loans and financing.</span></li>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Risks Related to Our Businesses and the Industries in Which We Operate Generally</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The ongoing war between Russia and Ukraine may have a material adverse effect on the global and Brazilian economies as well as on us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The ongoing war between Russia and Ukraine has provoked strong reactions from the United States, the UK, the EU and various other countries around the world, including from the members of NATO. Following Russia&#8217;s invasion of Ukraine beginning on February 24, 2022, the United States, the UK, the EU and other countries announced broad economic sanctions against Russia, including financial measures such as freezing Russia&#8217;s central bank assets and limiting its ability to access its U.S. dollar reserves. The United States, the EU and the UK have also banned people and businesses from dealings with the Russian central bank, its finance ministry and its wealth fund. Selected Russian banks will also be removed from the Swift messaging system, which enables the smooth transfer of money across borders. Other sanctions by the UK include major Russians bank being excluded from the UK financial system, stopping them from accessing sterling and clearing payments, major Russian companies and the state being stopped from raising finance or borrowing money on the UK markets, and the establishment of limits on deposits Russians can make at UK banks. The United States, the EU and the UK adopted personal measures, such as sanctions on individuals with close ties to Mr. Putin, and placed visa restrictions on several oligarchs, as well as their family members and close associates, and freezing of assets.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">While the precise effect of the ongoing war and these sanctions on the Russian and global economies remains uncertain, they have already resulted in significant volatility in financial markets, depreciation of the Russian ruble and the Ukrainian hryvnia against the U.S. dollar and other major currencies, as well as an increase in energy and commodity prices globally. Should the conflict continue to increase, markets may face continued volatility as well as economic and security consequences including, but not limited to, supply shortages of different kinds, further increases in prices of commodities, including piped natural gas, oil and agricultural goods, among others. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There remains considerable uncertainty as to the outcome of the war and its impact on the global economy, financial markets and the prices and supply of commodities and other products and services globally. The potential consequences of the war for us include, without limitation:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moove exports certain of its products to Russia and Ukraine. These export sales were suspended during the first quarter of 2022. In addition, Ra&#237;zen has limited sales operations into Russia and Ukraine. While as of the date of this annual report there have not been any material impacts from the ongoing war between Russia and Ukraine on Moove&#8217;s business or on Ra&#237;zen&#8217;s business, we are continuously monitoring the developments to assess any potential future impacts that may arise as a result of the war.</span></li>
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<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The U.S. dollar may appreciate sharply which could increase the price of goods and services on which we depend for which we are required to pay in U.S. dollars, as well as increase the pressure on our margins and prices generally.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Given that Russia and Ukraine are among the largest grain exporters in the world, a continuation of the conflict could result in increased inflation in Brazil and in measures by the Brazilian government and the Brazilian Central Bank to contain inflation, such as raising the basic interest rate, which could materially impact the cost of debt and third-party capital for our financing and investing activities.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">An increase in oil prices as a result of a more limited supply of Russian oil globally may also lead to a decrease of our margins and an increase in the costs of acquisition of basic inputs such as diesel oil.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Inflation resulting from the ongoing COVID-19 crisis has been compounded by the conflict between Russian and Ukraine. Higher prices make it more difficult for us to conduct our financial planning, increase the capital needed to fund our activities and our credit risk exposure. Measures by the Brazilian government and the Brazilian Central Bank to contain inflation, such as raising the basic interest rate, could materially impact the cost of debt and third-party capital for our financing and investing activities.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo has purchased railroad tracks from Russian companies in the past. While we expect that Rumo will be able to source these tracks from other, non-Russian suppliers if needed, the prices charged and terms demanded by these alternative suppliers may not be as favorable as those which Rumo has obtained in the past.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Brazil depends to a significant extent on imports of Russian and Belarusian fertilizer, which have been severely disrupted. Failure to obtain sufficient amounts of fertilizer may result in a reduction in grain production, which could affect Rumo&#8217;s transported volumes. In addition, Ra&#237;zen may be unable to obtain fertilizer (in particular nitrate) on favorable terms, sufficient quantities or at all, which could make agricultural production less efficient (potentially resulting in reduced output) or result in increases in costs (including as a result of the need to purchase other types of fertilizers).</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A recession of the Brazilian and/or global economies as a result of the aforementioned developments could also have a material adverse effect on our business.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other potential consequences include, but are not limited to, growth in the number of popular uprisings in the region, increased political discontent, especially in the regions most affected by the conflict or economic sanctions, increased cyberterrorism activities and attacks, an exodus from regions close to the areas of conflict and an increase in the number of refugees fleeing across Europe, among other unforeseen social and humanitarian effects.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The effects of the war between Russia and Ukraine are ongoing, and its continuation or escalation could precipitate or aggravate the other risk factors identified in this annual report on Form 20-F, which in turn could further materially and adversely affect our business, financial condition, liquidity, results of operations and profitability, including in ways not currently known or considered by us to present material risks.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">While as of the date of this annual report there have not been any material impacts from the ongoing war between Russia and Ukraine on our business, we are continuously monitoring the developments to assess any potential future impacts that may arise as a result of the ongoing war. As a company that operates globally, the adverse effects&#8212;global or localized&#8212;of the ongoing war between Russia and Ukraine, and/or economic sanctions and import and/or export controls to be imposed by the United States, the UK, the EU or others, and their adverse effects on the wider global economy and market conditions could have a material adverse effect on our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our business, operations and results may be adversely impacted by COVID-19.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In response to the COVID-19 outbreak, we have implemented several measures aimed at safeguarding the health of our employees and the stability of our operations and financial condition, including: (1) having our employees work remotely if able to do so, (2) following health and safety guidelines to protect employees in our essential operations who need to work onsite, (3) optimizing the use of contractors and employee hours and (4) renegotiating, where possible, certain contracts with suppliers and clients to reflect reductions in demand for our products.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of the date of this annual report, we have only experienced limited adverse financial and operational effects of the COVID-19 pandemic. The production and sale of our products and services are deemed to be an &#8220;essential service&#8221; by governmental authorities because of their role in the overall economy, so we were able to continue operating throughout the pandemic. However, we have experienced a decline in demand, especially in 2020, as a result of the fact that large sectors of the economy have shut down or slowed down considerably as a result of governmental measures to mitigate the effect of the COVID-19 pandemic. Our suppliers have also been impacted by the COVID-19 pandemic. As a result, access to materials, supplies and contract labor since the beginning of the COVID-19 pandemic has been more difficult than before. Failure to obtain the necessary inputs to produce our products and services may adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The COVID-19 pandemic is ongoing and we cannot predict its future effects. Future adverse conditions, including new potential waves of the COVID-19 pandemic in the markets in which we operate, and the emergence of new, more virulent and more resistant variants of the virus (such as the Omicron variant), could adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In light of the significant uncertainty around the duration and extent of the impact of the COVID-19 pandemic, we are currently unable to make estimates or assumptions with any reasonable degree of certainty regarding how the COVID-19 pandemic may affect our consolidated financial statements and financial or operational performance in any given period. In addition, due to the unprecedented nature of the crisis caused by the COVID-19 pandemic, any estimates or assumptions which we may make regarding the impact on our financial statements may be subsequently revised.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There continues to be uncertainty and unpredictability about the impact of the COVID-19 pandemic on our financial and operating results in future periods. The extent to which the COVID-19 pandemic adversely impacts our future financial and operating results, and for what duration and magnitude, depends on several continuously evolving factors that are difficult to predict and, in many instances, are beyond our control. Such factors include: (1)&#160;the duration and extent of the pandemic, including any resurgences, the Omicron variant or other new variants of the virus, compliance with vaccination mandates and the success of the rollout of vaccines generally, including additional doses and their efficacy in suppressing the virus, and the impact on our workforce and operations; (2) the negative economic impact of the pandemic on economic activity, such as travel restrictions and prolonged low demand for our products; (3) the ability of our affiliates, suppliers and partners to successfully navigate the impacts of the pandemic; (4) actions taken by governments, businesses and individuals in response to the pandemic; the extent and duration of recovery of economies and demand for our products after the pandemic subsides; and (5) our ability to keep our cost model in line with changing demand for our products and services.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The effects of the COVID-19 pandemic are ongoing, and its continuation or a resurgence could precipitate or aggravate the other risk factors identified in this annual report on Form 20-F, which in turn could further materially and adversely affect our business, financial condition, liquidity, results of operations and profitability, including in ways not currently known or considered by us to present material risks.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See also &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;Impact of COVID-19&#8221; and &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Impact of COVID-19.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The expansion of our business through acquisitions and strategic alliances creates risks that may reduce the benefits we anticipate from these transactions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We have grown substantially through acquisitions. We may continue to expand by acquiring or investing, directly or indirectly, from time to time, in businesses considered suitable by our management that are consistent with our values and that are expected to generate positive returns. We may also enter into strategic alliances to increase our competitiveness. Though we have recently expanded our business through recent acquisitions and alliances, our management is unable to predict whether or when any new prospective acquisitions or strategic alliances will occur, or the likelihood of any particular transaction being completed on favorable terms and conditions. Our ability to continue to expand our business through acquisitions or alliances depends on many factors, including our ability to identify acquisitions or access capital markets on acceptable terms. Even if we are able to identify acquisition targets and obtain the necessary financing to make these acquisitions, we could financially overextend ourselves.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Acquisitions, particularly those involving sizeable enterprises, may bring managerial and operational challenges, including the diversion of management&#8217;s attention from existing operations and difficulties in integrating operations and personnel. Any material failure by us in integrating new businesses or in managing any new alliances may adversely affect our business and financial performance. Additionally, some of our major competitors may pursue growth through acquisitions and alliances, which may reduce the likelihood that we will be successful in completing acquisitions and alliances. In addition, any major acquisition we consider may be subject to antitrust and other regulatory approvals. We may not be successful in obtaining required approvals on a timely basis or at all.</span></p>
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Acquisitions also expose us to the risk of successor liability-related actions involving any acquired entity, their respective management or contingent liabilities incurred before the acquisition. The due diligence investigation conducted in connection with an acquisition, and any contractual guarantees or indemnities that we may receive from sellers of acquired companies, may not be sufficient to protect us from, or compensate us for, actual liabilities. Material liabilities associated with an acquisition, such as labor or environmental liabilities, could materially and adversely affect our reputation, business, operating results or financial condition, and reduce the benefits that we expect to result from such acquisition.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may not successfully acquire or develop additional production capacity through greenfield projects or expansion of existing facilities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We may explore growth opportunities in the future through the acquisition or development of greenfield projects or through the expansion of our existing facilities. We may be unable to complete these projects on a timely basis or at all, and may not realize the related benefits we anticipate. The factors which may prevent us from doing so include, among other things, (1)&#160;our failure to obtain environmental and other licenses; (2)&#160;our inability to obtain supplies of appropriate equipment or raw materials; (3)&#160;increases in costs and/or decreases in revenue; (4)&#160;a lack of qualified workforce; (5)&#160;lack of service providers; and (6)&#160;our inability to obtain any required financing on satisfactory terms, or at all.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our greenfield projects and/or expansion of existing facilities require a significant number of service providers. Any inability on our part to enter into contracts with duly qualified service providers who are able to provide the technical services that we require may prevent us from completing our greenfield projects and/or expansions of existing facilities on a timely basis, or at all. In addition, the integration of greenfield projects or expansion of our existing facilities may result in unforeseen operating difficulties and may require significant financial and managerial resources that would otherwise be used for our current operations. Planned or future greenfield projects or expansions of existing facilities may not enhance our financial performance. Any failure in the implementation of growth projects and/or expansion of existing facilities may have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">We may not be successful in reducing operating costs and increasing operating </span><span style="font-style: italic; font-weight: bold;">efficiency</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As part of our strategy, we continue to seek operating costs reductions and operating efficiency increases to improve our future financial performance. We may not be able to achieve the cost savings that we expect as a result of several factors, including increases in the price of our raw materials and other cost inputs. Given the very competitive markets in which we operate, with prices often determined by global supply and demand, it is highly likely that we will not be able to pass on material cost increases, which would materially and adversely affect our financial performance.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may be unable to implement our growth strategy successfully.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our future growth and financial performance will depend, in part, on the successful implementation of our business strategy, including (1) our ability to attract new clients or increase volume from existing clients in specific markets and locations, (2) our capacity to finance investments (through indebtedness or otherwise), (3)&#160;our ability to increase our operational capacity and expand our current capacity to supply to new markets, (4)&#160;our ability to maintain and renew our existing concessions, (5) our ability to reduce our operating costs and increase operating efficiency, (6) our ability to lead regarding new technologies and market demands and (7)&#160;our ability to integrate our businesses, among others. We cannot assure you that we will be able to achieve these objectives and/or strategies successfully or at all. Our failure to achieve any of these objectives and/or strategies as a result of competitive difficulties, cost increases or restrictions on our ability to invest, among other factors, may limit our ability to implement our growth strategy successfully. We may need to incur additional indebtedness in order to finance new investments to implement our growth strategy. Unfavorable economic conditions in Brazil and in the global credit markets, such as high interest rates on new loans, reduced liquidity or reduced interest of financial institutions in granting loans may limit our access to new credit. Furthermore, failure to achieve our expected growth may have a material adverse effect on our business, financial conditions, results of operations and ability to repay our debt obligations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may engage in hedging transactions, which involve risks that can harm our financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are exposed to market risks arising from the conduct of our business activities&#8212;in particular, market risks arising from changes in commodity prices, exchange rates or interest rates. In an attempt to minimize the effects of the volatility of prices and exchange rates on our cash flows and results of operations, for example, we engage in hedging transactions involving commodities and exchange rate futures, options, forwards and swaps. We also engage in interest rate-related hedging transactions from time to time. Hedging transactions expose us to the risk of financial loss in situations where the counterparty to the hedging contract defaults on its contract or there is a change in the expected differential between the underlying price in the hedging agreement and the actual price of commodities or the exchange rate. We may incur significant hedging-related losses in the future. In particular, Ra&#237;zen enters into hedging transactions against market price fluctuations by fixing the prices of our sugar export volumes and exchange rates. Since we record derivatives at fair value, to the extent that the market prices of our products exceed the fixed price under our hedging policy, our results will be lower than they would have been if we had not engaged in such transactions as a result of the related non-cash derivative expenses. As a result, our financial performance would be adversely affected during periods in which commodities prices increase. Alternatively, we may choose not to engage in hedging transactions in the future, which could have a material adverse effect on our financial performance during periods in which commodities prices decrease.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Climate change can create transition risks, physical risks and other risks that could adversely affect us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Climate risk is a transversal risk that can be an aggravating factor for the types of traditional risks that we manage in the ordinary course of business, including without limitation the risks described in this &#8220;Risk Factors&#8221; section. Based on the classifications used by Task-Force on Climate-Related Financial Disclosures, we consider that there are two primary sources of climate change-related financial risks: physical and transition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Physical risks resulting from climate change can be event-driven (acute) or long-term shifts (chronic) in climate patterns:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Acute physical risks include increased severity of extreme weather events, such as drought, hurricanes; or floods. </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chronic physical risks include changes in precipitation patterns and extreme variability in weather patterns, rising mean temperatures, chronic heat waves or rising sea levels.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Especially in Brazil, rainfall patterns have been constantly changing, causing certain regions to experience rainfall volumes far above historical averages, resulting in floods and inundations and landslides in hillside and mountain regions. Such changes in rainfall patterns could have an adverse effect on our production and distribution capacity, affecting crop harvests as well as our ability to produce sugar and ethanol, generate energy, distribute our products and provide services to our customers. The occurrence of storms and floods may also influence the cost to insure our assets, especially those in high-risk regions, where storms, tornadoes and other extreme events are more pronounced. In periods of scarcity of rain, water deficiency occurs because of the decrease in the levels of water reservoirs, with an influence on the availability and costs of electric energy, considering the dependence on energy generated through hydroelectric plants, as well as on crop harvests. The scarcity of rains combined with low levels of reservoirs can lead governments and authorities to restrict industrial activities and direct water for human consumption. The increase in average temperatures may have an impact on our operating costs due to the greater demand for cooling and air conditioning to produce, store and transport some of our products. Historically, in periods of water scarcity, the Brazilian government authorizes an increase in the energy prices as a measure to stimulate the reduction of consumption, which can create inflationary pressure, with impacts on the income levels of the population in general, on production costs and on the final price of products, which consequently affects our revenues and results.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Extreme and prolonged changes in rainfall patterns and an increase in temperatures can influence production cycles in certain regions, and droughts can influence the increase in fires and devastation, which may adversely affect our facilities. Additionally, they can also cause a reduction in revenue and an increase in costs due to negative impacts on our employees and suppliers, such as increased absenteeism and issues involving health and safety.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transition risks refer to actions taken to address mitigation and adaptation requirements related to climate change, and they can fall into various categories such as market, technology and market changes:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Market risk may manifest through shifts in supply and demand for certain commodities, products, and services, as climate-related risks and opportunities are increasingly taken into account.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Technology risk arises from improvements or innovations to support the transition to a lower-carbon, energy-efficient economic system that can have a significant impact on companies to the extent that new technology displaces old systems and disrupts some parts of the existing economic system.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Policy actions generally fall into two categories&#8212;those that attempt to constrain actions that contribute to the adverse effects of climate change and those that seek to promote adaptation to climate change. The risk associated with, and the financial impact of, policy changes depend on the nature and timing of the policy change.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are already subject to certain regulatory environmental requirements as detailed under &#8220;&#8212;We are subject to extensive environmental regulations and may be exposed to liabilities in the event we fail to comply with these regulations.&#8221; These requirements may increase going forward as a result of the increasing importance of environmental matters. This and other changes in regulations in Brazil and international markets may expose us to increased compliance costs and limit our ability to pursue certain business opportunities and provide certain products and services, each of which could adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transition and/or physical risks arising from climate change may adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are subject to extensive environmental regulations and may be exposed to liabilities in the event we fail to comply with these regulations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our business activities in Brazil are subject to extensive laws and regulations concerning environmental protection, which impose on us various environmental obligations, such as environmental licensing requirements; standards for the release of effluents, management of solid waste, emission and discharge of hazardous materials, sugarcane burning, and health and safety of our employees; protection of certain areas (including the Legal Reserve, indigenous areas, <span style="font-style: italic;">quilombolas</span> community areas, conservation units, archeological sites and permanent preservation areas); and the need for special authorizations for the use of water, among others.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Failure to comply with such laws and regulations (including a failure to obtain or maintain relevant environmental permits, as well as to comply with technical conditions imposed by environmental permits) may subject the violator to administrative fines (up to the amount of R$50 million), mandatory interruption of activities and criminal sanctions, in addition to the obligation to remedy and pay environmental and third-party damage compensation. In addition, Brazilian environmental law adopts a strict liability system for environmental damages, in connection with which a polluter is liable irrespective of whether the polluter was at fault or engaged in intentional misconduct, resulting in our joint and several liability for the obligations of our suppliers or customers, for example.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian law provides that separate legal personality may be disregarded where it would otherwise prevent the repayment of environmental damages. In such a situation, shareholders may be held personally liable for environmental liabilities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If we become subject to environmental liability, any costs we may incur in connection with the indemnification against potential environmental damage would lead to a reduction in the financial resources that would otherwise remain at our disposal for current or future strategic investment, which may materially and adversely affect our business, results of operations or financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As environmental laws and their enforcement become increasingly stringent, our expenses for complying with environmental requirements are likely to increase in the future. Furthermore, the possible implementation of new regulations, changes in existing regulations or the adoption of other measures could cause the amount and frequency of our expenditures relating to environmental preservation to vary significantly compared to present estimates or historical costs. Any unplanned future expenses could force us to reduce or forego strategic investments, and as a result, could materially and adversely affect our business, results of operations or financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The occurrence of environmental damage may lead to the need to make significant financial resources available for both containment and repair of these damages. The occurrence of such events may also lead to a disruption in production due to intervention by government agencies. In either case, financial and/or image impacts may be significant. In addition, the creation of new regulations may lead to the need for greater expenses for environmental preservation. Furthermore, extensive environmental regulation can also lead to delays in the implementation of new projects as bureaucratic procedures for obtaining environmental licenses from various government agencies may take considerable time.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are party to a number of administrative and judicial proceedings for alleged failures to comply with environmental and health laws, which may result in fines, shutdowns or other adverse effects on our operations. Claims that give rise to administrative proceedings may also lead to civil or criminal claims against us and our subsidiaries. Our costs of complying with current and future environmental and health and safety laws, and our liabilities arising from past or future claims, could adversely affect our business or financial performance. We may also be required to expend significant financial resources in order to remedy or contain environmental damage or failures to comply with certain environmental and social obligations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The realization of any of these risks may have a material adverse effect on our business, results of operations or financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Technological advances could affect demand for our products and services or require substantial capital expenditures for us to remain competitive.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The development and implementation of new technologies may result in a significant reduction in the costs of the products and services we provide. We cannot predict when new technologies may become available, the rate of acceptance of new technologies by our competitors or the costs associated with such new technologies. Advances in the development of alternatives to the products and services which we currently sell could significantly reduce demand or eliminate the need for them.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For example, the development of alternative products to sugar, ethanol and natural gas may reduce the demand for our products or materially reduce the demand for ethanol or natural gas to be used as a source of energy, and the use of alternative sweeteners may adversely affect the overall demand for sugar in Brazil and abroad, which could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any advances in technology which require significant capital expenditures to remain competitive or which otherwise reduce demand for our products and services will have a material adverse effect on our business and financial performance. Any other alternative products or technological advances which reduce demand for the products of our subsidiaries and joint ventures may have a material adverse effect on our results of operations and financial condition.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may face conflicts of interest in transactions with related parties.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We engage in business and financial transactions with our controlling shareholder and other shareholders that may create conflicts of interest between our Company and these shareholders. Commercial and financial transactions between our affiliates and us, even if entered into on an arm&#8217;s-length basis, create the potential for, or could result in, conflicts of interests.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Lack of service providers for our expansion projects could adversely affect our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are engaged in a number of expansion projects that will require a significant number of service providers, which may not be available. Consequently, if we are unable to contract for the necessary services due to service industry shortages or a lack of providers with the technical ability to provide the services we require, this could have an adverse effect on our expansion projects or lead to delays in the execution of our expansion projects as new service providers go through an approval process and develop the technical qualification to commence operations. Any delay or failure to commence or continue our expansion projects within our projected time frame or budget could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We depend on our information technology systems, and any failure of these systems could adversely affect our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We depend on information technology systems for significant elements of our operations, including the storage of data and retrieval of critical business information. Our information technology systems are vulnerable to damage from a variety of sources, including network failures, malicious human acts, and natural disasters. Moreover, despite network security and back-up measures, some of our servers are potentially vulnerable to physical or electronic break-ins, computer viruses, and similar disruptive problems. Failures or significant disruptions to our information technology systems or those used by our third-party service providers could prevent us from conducting our general business operations. Any disruption or loss of information technology systems on which critical aspects of our operations depend could have an adverse effect on our business, results of operations, and financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Furthermore, we store highly confidential information on our information technology systems, including information related to our products. If our servers or the servers of the third party on which our data is stored are attacked by a physical or electronic break-in, computer virus or other malicious human action, our confidential information could be stolen or destroyed. Any security breach involving the misappropriation, loss or other unauthorized disclosure or use of confidential information of our suppliers, customers, or others, whether by us or a third party, could have an adverse impact on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, any failure of our information technology systems to operate effectively or integrate with other systems, or inadequate performance of, or breaches of security regarding, such systems could result in interruptions in the availability of our online resources, delays in delivering products or services and reduced efficiency in our operations. Each of these factors may adversely affect our businesses as well as their financial condition, results of operations and reputation. We also hold certain highly confidential personal and financial data relating to our customers in our information technology systems. Any failures in the information technology systems on which we depend or any breaches resulting in the unauthorized disclosure of the personal or financial data of our customers may adversely affect our business, financial condition, results of operations and reputation.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See also &#8220;&#8212;We were the target of a cybersecurity incident which disrupted our systems&#8221; and &#8220;&#8212;We could be the target of attempted cyber threats in the future and they could adversely affect our business.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We were the target of a cybersecurity incident which disrupted our systems.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On March 11, 2020, our subsidiaries and jointly controlled companies suffered a cyberattack by ransomware that caused a partial and temporary interruption of our operations. The affected entities within our group implemented their own contingency plans, continued operating partially during the cyberattack, and progressively reconnected their operating systems following the attack.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a consequence of the incident, we may incur losses arising from claims by third parties, as well as fines, penalties and other sanctions imposed by regulators relating to or arising from the incident. We are not able to forecast all of the losses that we may incur as a result of the incident reliably, and such excess losses could have a material adverse effect on our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Following the incident, we have taken certain additional precautionary measures to reduce cyber risks. However, we cannot assure you that our security frameworks and measures will be successful in preventing future cyberattacks. In addition, we expect that the cost to obtain cyber liability insurance in the future should we wish to do so (we do not currently have cyber liability insurance) will be higher than they would otherwise have been as a result of this incident.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Further, the incident may have a negative impact on our reputation and cause customers, suppliers and other third parties with whom we maintain relationships to lose confidence in us. We are unable to predict the impact to these relationships.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of the date of this annual report, we have spent approximately R$61.2 million in relation to the abovementioned cyberattack. We have also taken the following actions and measures:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we hired a chief of information security and cybersecurity for the Cosan Group;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have established a strategy, framework and roadmap to develop our cyber security measures over the next three years;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have created a new information security and cybersecurity department composed of experts and specialists as well as business information security officers to better distribute roles and responsibilities for these matters in each company of the Cosan Group;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have created a cyber-defense center including a security operations center which focuses on cyber-attacks and operates on a 24/7 basis;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have created a new vulnerability management structure to focus on risk mitigation including periodic pentesting (i.e., an authorized simulated cyber-attack on a computer system, performed to evaluate the security of the system) exercises;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have created a new governance and operational system to cover periodic report reviews of dashboards and key performance indicators with technical teams we as well as executives of all the companies of the Cosan Group; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have also created an awareness program including new security policies, standards, procedures and periodic phishing simulations to improve our security posture;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have approved our Cyber and Information Security Policy, which aims to establish general information security and cybersecurity guidelines and principles for all operations to ensure that the entire group acts in line with the rules regarding the treatment and protection of assets and information, as well as ensuring our ability to detect, prevent and reduce cybersecurity and information technology-related risks;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we have launched the Vendor Risk Management Program, focusing on pinpointing and mitigating risks associated with vendors, mainly for those vendors that work with data processing and storage services across our supply chain. This program is supported by our procurement team and the contract owners of each company within the group; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">we launched our Crisis Cybersecurity Management Program, reinforcing our commitment to keep main stakeholders (C-Level), teams (i.e., Cybersecurity, DPO, Legal, Internal Controls, Internal Audit, IT and Compliance) and related processes continuously updated on the prevention of major cyber-attacks, and to be prepared for appropriate risk prevention measures to be adopted in accordance with each group company&#8217;s appetite for risk<span style="font-style: italic;">.</span></span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;History&#8221; for further information.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We could be the target of attempted cyber threats in the future and they could adversely affect our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We face various cybersecurity risks, including but not limited to penetration of our information technology systems and platforms by ill-intentioned third parties, infiltration of malware (such as computer viruses) into our systems, contamination (whether intentional or accidental) of our networks and systems by third parties with whom we exchange data, unauthorized access to confidential customer and/or proprietary data by persons inside or outside our organization and cyberattacks causing systems degradation or service unavailability that may result in business losses.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We may be subject to potential fraud and theft by cyber criminals, who are becoming increasingly sophisticated, seeking to obtain unauthorized access to or exploit weaknesses that may exist in our systems. We continuously monitor and develop our information technology networks and infrastructure. We also conduct annual tests to prevent, detect, address and mitigate the risk of unauthorized access, misuse, computer viruses and other events that could have a security impact on us. However, we cannot assure you that these measures will be effective in protecting us against cyberattacks and other related breaches of our information technology systems. The techniques used to obtain unauthorized, improper or illegal access to our systems, our data or our customers&#8217; data, to disable or degrade service, or to sabotage systems are constantly evolving, may be difficult to detect quickly, and often are not recognized until used against a target. Unauthorized parties may attempt to gain access to our systems or facilities through various means, including, among others, hacking into our systems or those of our customers, partners or vendors, or attempting to fraudulently induce our employees, customers, partners, vendors or other users of our systems to disclose usernames, passwords, financial information or other sensitive information, which may in turn be used to access our information technology systems. Certain third-party efforts to access our information technology systems may be supported by significant financial and technological resources, making them even more sophisticated and difficult to detect. We have seen in recent years computer systems of companies and organizations being targeted, not only by cyber criminals, but also by activists and rogue states. Cyberattacks could give rise to the loss of significant amounts of customer data and other sensitive information, as well as significant levels of liquid assets (including cash). In addition, cyberattacks could give rise to the disablement of our information technology systems, including systems used to service our customers. Any of these developments could have an adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Further, we store highly confidential information on our information technology systems, including personal data, financial information, and other types of information related to our products and customers. If our servers or the servers of the third parties on which our data is stored are the subject of a physical or electronic break-in, computer virus or other cyber risks, our confidential information could be stolen, rendered unavailable, devalued or destroyed. Any security breach involving the misappropriation, loss or other unauthorized disclosure or use of confidential information of our suppliers, customers, or others, whether by us or a third party, could (1) subject us to civil and criminal penalties, (2) have a negative impact on our reputation or (3) expose us to liability to our suppliers, customers, other third parties or government authorities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If we fail to effectively manage our cybersecurity risk, for example, by failing to update our systems and processes in response to new threats, this could harm our reputation and adversely affect our operating results, financial condition and prospects through the payment of customer compensation, regulatory penalties and fines and/or the loss of assets. Furthermore, upon a failure to comply with applicable laws and regulations, we may be ordered to change our business practices, policies or systems in a manner that adversely impacts our operating results.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We may also be subject to the effects of cyberattacks against critical infrastructures of Brazil and the other countries in which we operate. Our information technology systems are dependent on such critical infrastructure, and any cyberattack against such critical infrastructure could negatively affect our ability to service our customers. As we do not operate such critical infrastructure, we have limited ability to protect our information technology systems from the adverse effects of cyberattacks.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We have recently conducted a cybersecurity-focused review of our information technology systems with the assistance of external consultants. In the course of this review, a number of vulnerabilities and opportunities for enhancement were identified with respect to our information technology systems, including vulnerabilities that, if left unresolved, would have had the potential to increase both the frequency and severity of losses and disruptions due to cyberattacks. As of the date of this annual report, the vulnerabilities identified in our initial review have been addressed in all material respects. However, we conduct assessments of our information technology systems on an ongoing basis. As part of these assessments, we continue to identify vulnerabilities and opportunities on an ongoing basis. We are constantly striving to resolve these, but we face increased risks until we are able to resolve or mitigate the remaining vulnerabilities.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We cannot assure you that our information technology systems will not suffer attacks in the future or that we will be able to adequately safeguard the confidential information which we hold. If we fall victim to successful cyberattacks or experience cybersecurity incidents in the future, we may incur substantial costs and suffer other negative consequences, such as remediation costs (liabilities for stolen assets or information, or repairs of system damage, among others), increased cybersecurity protection costs, lost revenues arising from the unauthorized use of proprietary information or the failure to retain or attract customers following an attack, as already mentioned, litigation and legal risks, increased insurance premiums, reputational damage affecting our customers&#8217; and investors&#8217; confidence, as well as damage to our competitiveness, stock price and long-term shareholder value. Any failure by us to adequately protect our information technology systems and the confidential data which we hold could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">It is important to highlight that even when a failure of or interruption in our systems or facilities is resolved in a timely manner or an attempted cyber incident or other security breach is successfully avoided or thwarted, substantial resources are normally expended in doing so, and we may be required to take actions that could adversely affect customer satisfaction or behavior, and that may also represent a threat to our reputation.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are subject to risks associated with non-compliance with the Brazilian General Data Protection Law and may be adversely affected by the application of fines and other types of sanctions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Until the entry into force of Law No. 13,709/2018, or the Brazilian General Data Protection Law (<span style="font-style: italic;">Lei Geral de Prote&#231;&#227;o de Dados</span>), or the &#8220;LGPD,&#8221; the processing of personal data in Brazil was regulated by a series of rules scattered throughout legislation such as the Brazilian federal constitution, Law No. 8,078/1990, or the Consumer Protection Code, and the Brazilian Civil Framework for the Internet. The LGPD, which came into force on September 18, 2020, regulates practices related to the processing of personal data in Brazil, through a system of rules that impacts all sectors of the economy and establishes, among other measures, the rights of the holders of personal data, cases in which the processing of personal data is permitted (legal bases), obligations and requirements related to information security incidents, personal data leaks and the transfer of personal data, as well as establishing sanctions for non-compliance with the provisions. In addition, the LGPD authorized the creation of the National Data Protection Authority (<span style="font-style: italic;">Autoridade Nacional de Prote&#231;&#227;o de Dados</span>), or &#8220;ANPD,&#8221; which is responsible for developing guidelines and applying administrative sanctions in case of non-compliance with the LGPD. In addition, the administrative sanctions provided for in the LGPD (arts. 52, 53 and 54), came into force on August 1, 2021, pursuant to Law No. 14,010/2020.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">With the entry into force of LGPD administrative sanctions, if we are not in compliance with the LGPD, we will be subject to the following sanctions, in an isolated or cumulative manner: (1) a warning, with indication of the deadline for adopting corrective measures; (2) fines of up to 2% of the group&#8217;s last fiscal year&#8217;s revenues, excluding taxes, up to the global amount of R$50 million per infraction; (3) daily fines up to the limit referred to in item 2; (4)&#160;an incident disclosure obligation; (5) temporary block and/or elimination of personal data; (6) partial suspension of the database to which the offense refers for a period of up to six months, extendable for an equal period, until the regularization of the processing of personal data; (7) suspension of the exercise of the activity of processing personal data to which the offense refers for a period of up to six months, extendable for an equal period; and (8) partial or total prohibition of the exercise of activities related to data processing. Additionally, we may be liable for material, moral, individual or collective damages caused as a result of non-compliance with the obligations established by the LGPD.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition to administrative sanctions, failure to comply with any provisions set forth in the LGPD has the following risks: (i) the filing of legal, individual or collective actions seeking compensation for damages arising from violations, based not only on the LGPD, but on sparse and sectorial legislation on current data protection; and (ii) the application of the penalties provided for in the Consumer Protection Code and the Brazilian Civil Framework for the internet by some consumer protection agencies, since they have already acted in this regard, even before the validity of the LGPD and the effective structuring of the ANPD, especially in cases of security incidents that result in breaches of personal data. Therefore, failures in the protection of personal data processed by us as well as failure to comply with the applicable legislation, including those related to cybersecurity incidents and other events of failures in our information technology systems, may result in high fines, disclosure of the incident to the market, elimination of personal data from the base and even suspension of activities, resulting in costs that may have an adverse and negative effect on our reputation and results and the value of our ADSs and our common shares.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our performance depends on favorable labor relations with our employees and our compliance with labor laws. Any deterioration of those relations or increase in labor costs could adversely affect our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">All of our employees are represented by labor unions. Our relationships with these organizations are governed by labor agreements or collective bargaining agreements which we negotiate with labor unions. Upon the expiry of such agreements, we are required to renegotiate new agreements with the applicable labor union. As part of these renegotiations, new terms and conditions may be established. In certain cases, these agreements may not be renewed, which could lead to strikes and/or stoppages in our activities and have an adverse impact on our business, financial condition and results of operations. Furthermore, since the enactment of Law No. 13,467/2017, labor agreements and collective bargaining agreements prevail over certain provisions of labor legislation, as stated in items I to XV, of Article 611-A, of the Consolidation of Brazilian Labor Laws (<span style="font-style: italic;">Consolida&#231;&#227;o das Leis do Trabalho</span>), such as working time arrangements and the manner in which these are recorded, work breaks, and certain employer-specific internal rules, among others. As a result, employers may expand or reduce certain labor rights, provided this is done pursuant to the terms of labor agreements negotiated with unions and/or individual agreements negotiated with the respective employees.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Failure to comply with, obtain or renew the licenses and permits required fo</span><span style="font-style: italic; font-weight: bold;">r</span><span style="font-style: italic; font-weight: bold;"> each of the sectors in which we operate</span><span style="font-style: italic; font-weight: bold;"> may have a material adverse effect on us.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are required to obtain specific licenses with respect to our terminals from the applicable environmental authorities, which are required in connection with the emission, ejection and emanation of products and by-products resulting from distribution activities. We are also required to obtain specific licenses and permits from governmental authorities for rural producers in order to carry out certain of our operations. The laws and regulations which govern these licenses may occasionally require us to purchase and install costly pollution control equipment or to make operational changes to limit our impact on the environment and/or the health of our employees. Any failure to comply with the terms of such laws, regulations and licenses and permits may result in significant financial penalties, criminal sanctions, revocation of operating licenses and permits, and/or the prohibition of certain of our activities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, we are currently in the process of obtaining or renewing, as the case may be, certain licenses and permits (including real estate and environmental permits) required for the continuity of our activities. Our business, financial condition and results of operations may be materially and adversely affected if we are unable to obtain or renew all licenses and permits required for our business and operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Contamination of our products and other related risks could adversely affect our reputation, leading to judicial and administrative proceedings and/or resulting in the closure of our production facilities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Certain of our products may have adverse effects on consumers (including certain components, raw materials and supplies used to produce these products), including as a result of product contamination or subsequent errors in the production or distribution chain.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Contamination of any of our products may result in a need for recalls or the beginning of legal and administrative proceedings against us, which may adversely affect our reputation, our business, the operation of our production facilities, our financial condition and our operating results. Any damage to our reputation could have a material adverse effect on us.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">We are exposed to the possibility of losses related to natural disasters, catastrophes, accidents, fire</span><span style="font-style: italic; font-weight: bold;">, political, social and economic events</span><span style="font-style: italic; font-weight: bold;"> and other events not in our control, which may have a material adverse effect on our </span><span style="font-style: italic; font-weight: bold;">business, financial condition and results of operations</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our operations are subject to certain risks that affect our properties, facilities, permanent passageways, rail banks and inventory, including, among others, fire, which may destroy machinery, equipment and facilities as well as client cargo being transported. Fires, explosions, fuel leaks and other flammable products as well as other environmental events, cargo loss or damage to railroads or cargo loading and unloading terminals, accidents, business interruptions due to political, social or economic events, labor claims, demonstrations by social and/or environmental groups or associations, strikes or work stoppages (of our own employees or of those linked to entities with which we have a relationship, such as port operators), armed conflicts and war (including the ongoing war between Russia and Ukraine), disease outbreaks (such as COVID-19), adverse weather conditions, and natural disasters, such as floods, may result in the loss of revenues, assumption of liabilities or cost increases. We are also subject to stoppages and blockades of highways and other public roads, such as the truckers&#8217; strike in May 2018, when Brazilian truck drivers started a national strike for a reduction of taxes levied on diesel and changes in the fuel price policy in Brazil. Stoppages and blockages of highways and other public roads may adversely affect our business and results. Moreover, our operations may be periodically affected by crop shortfalls, landslides and other natural disasters.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our transportation and handling of cargo exposes us to risks relating to catastrophes, mechanical and electrical failures, collisions and loss of assets. A portion of our freight activities involves petroleum products and other flammable materials, and the presence of such products may aggravate the effects of any catastrophe.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Because our insurance does not cover all potential risks and losses we may incur, the occurrence of a natural disaster of large proportions, catastrophes, cyberattacks, pandemics, mechanical failures, loss of assets or any other of the events referred to above, and any resulting damage to our business, may have a material adverse effect on our business, operating results and financial condition, including as a result of civil, administrative and/or criminal sanctions relating to environmental liability (including civil, administrative and/or criminal sanctions of such nature imposed on our management).</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are exposed to credit and other counterparty risks of our customers in the ordinary course of our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We have various credit terms with various types of customers, including fuel distributors, wholesalers, retailers, trading companies and consumers of the energy which we generate or trade. Our customers have varying degrees of creditworthiness and are subject to different rules and regulations. We are therefore exposed to the risk of nonpayment or other default under our contracts and other arrangements with them.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As part of our relationships with our customers, we set different credit conditions for each customer based on their perceived creditworthiness. Economic conditions may also affect our customers&#8217; ability to meet their obligations to us. In addition, we are also exposed to other types of counterparty risk, including reputational risk, as well as risks relating to money laundering, embargos, breaches of labor regulations and other related matters.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In the event that a significant number of material customers default on their payment obligations to us, our financial condition, results of operations or cash flows, could be materially and adversely affected. Any of these risks could have an adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our inability to post judicial collateral or provide guarantees in pending legal or administrative proceedings could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We may not have sufficient funds to post collateral or provide guarantees in judicial or administrative proceedings involving substantial amounts. Even if we do not post such collateral or provide guarantees, we will be liable for paying any amounts due pursuant to any unfavorable outcomes in legal proceedings. We cannot assure you that, if we cannot make such payments, our assets, including financial assets, will not be attached or that we will be able to obtain tax good-standing certificates, all of which may have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are subject to anti-corruption, anti-bribery, anti-money laundering and other international trade laws and regulations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We are subject to anti-corruption, anti-bribery, anti-money laundering and other international trade laws and regulations. We are required to comply with the laws and regulations of Brazil and various jurisdictions where we conduct operations. In particular, we are subject to the Brazilian Anti-corruption Law No. 12,846, to the U.S. Foreign Corrupt Practices Act of 1977, or the &#8220;FCPA,&#8221; to the United Kingdom Bribery Act of 2010, as well as economic sanction programs, including those administered by the United Nations, the European Union and the United States, including the U.S. Treasury Department&#8217;s Office of Foreign Assets Control, or &#8220;OFAC.&#8221; The FCPA prohibits providing anything of value to foreign officials for the purposes of obtaining or retaining business or securing any improper business advantage. As part of our business, we may deal with entities and employees which are considered foreign officials for purposes of the FCPA. In addition, economic sanctions programs restrict our dealings with certain sanctioned countries, individuals and entities. Although we have internal policies and procedures designed to ensure compliance with applicable anti-fraud, anti-bribery and anti-corruption laws and sanctions regulations, potential violations of anti-corruption laws have been identified on occasion as part of our compliance and internal control processes. When such issues arise, we attempt to act promptly to learn relevant facts, conduct appropriate due diligence and take any appropriate remedial action to address the risk. Given the size of our operations and the complexity of the production chain, there can be no assurance that our internal policies and procedures will be sufficient to prevent or detect all inappropriate practices, fraud or violations of law by our employees, directors, officers, partners, agents and service providers or that such persons will not take actions in violation of our policies and procedures (or otherwise in violation of the relevant anti-corruption laws and sanctions regulations) for which we or they may be ultimately held responsible. Violations of anti-bribery and anti-corruption laws and sanctions regulations could have a material adverse effect on our business, reputation, results of operations and financial condition. In addition, we may be subject to one or more enforcement actions, investigations and proceedings by authorities for alleged infringements of these laws. These proceedings may result in penalties, fines, sanctions or other forms of liability and could have a material adverse effect on our reputation, business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our debt level could adversely affect our financial health and prevent us from fulfilling our debt obligations, which would reduce our ability to raise capital to finance our investments and operations and would adversely impact our ability to recover from economic changes.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our debt level and the composition of our debt could, among other things: (1)&#160;require us to reserve a substantial part of our operational cash flows to pay principal and interest on our debt, which will reduce the availability of our cash flow to fund working capital, capital expenditures, acquisitions and investments; (2)&#160;limit our flexibility in planning for, or reacting to, changes in our business and the industries in which we operate; (3)&#160;limit our ability to borrow additional funds, obtain bank guarantees or collateral insurance and generally increase our borrowing costs; and (4)&#160;place us at a competitive disadvantage compared to our competitors that have less debt. Any of the aforementioned developments could have a material adverse effect on us, our financial condition and our results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may be unable to comply with restrictive covenants under our financing agreements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are subject to certain restrictive covenants based on certain financial and non-financial indicators which are set forth in the majority of the indebtedness and finance agreements to which we are a party. The majority of such covenants relate to requirements to comply with certain predetermined levels of leverage.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any failure by us to comply with the restrictive covenants in our credit agreements as a result of adverse conditions in our business environment may trigger the acceleration of part of our indebtedness, limit our access to new credit facilities as well as adversely affect our business and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may raise additional capital in the future for strategic partnerships or by issuing securities, which may result in a potential dilution of your equity interest.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In light of the intensive capital needs of our operations, we are constantly analyzing alternatives and considering the possibility of entering into strategic partnerships, disposing of assets, or raising additional capital through a public or private issuance of shares and/or securities convertible into or exchangeable for shares. Any strategic partnership, issuance or placement of shares and/or securities convertible into or exchangeable for shares may affect the market price of our common shares and ADSs and could result in dilution of your equity interest.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our insurance coverage may be inadequate to cover all losses and/or liabilities that may be incurred in our operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our operations are subject to a number of hazards and risks. We maintain insurance at levels that are customary in our industry to protect against these liabilities; however, our insurance may not be adequate to cover all losses or liabilities that might be incurred in our operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For example, we do not maintain coverage for business interruptions of any nature for our Brazilian operations, including business interruptions caused by labor disruptions. If, for instance, our workers were to strike, the resulting work stoppages could have a material and adverse effect on us. Similarly, we do not insure most of our assets against war or sabotage. Therefore, an attack or an operational incident causing an interruption of our business could have a material and adverse effect on our financial condition or results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moreover, we will be subject to the risk that we may not be able to maintain or obtain insurance of the type and amount desired at reasonable rates. If we were to incur a significant liability for which we were not fully insured, it could have a materially adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Any failure relating to our strategic partnerships may result in additional financial or performance obligations by us, which would reduce our profitability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We may enter into strategic partnerships, joint ventures, combinations, alliances and collaborations, including, among other things, partnerships with our customers. The success of these and other partnerships depends, in part, on the satisfactory performance of our and our partners&#8217; obligations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If we or our partners do not satisfactorily perform such obligations, our strategic partnerships may fail to perform as expected or to deliver the agreed services. Should this occur, we may be required to make additional investments and provide additional services to guarantee the adequate performance and delivery of the agreed services, or terminate such partnerships prior to their stated maturity. The performance by us of additional obligations with respect to our strategic partnerships may result in the reduction of our profits and material losses to us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Likewise, the failure of our strategic partners to fulfill their obligations under our partnership agreements may have a material adverse effect on such partnerships. In addition, the failure to reach an agreement as to certain matters may result in deadlock pursuant to certain of the shareholders&#8217; and other agreements governing our strategic partnerships.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Strategic partnerships are essential to the continuity of our operations and our growth. If we fail to maintain our existing partnerships or identify new partnerships, or if our business or strategic partnerships are unsuccessful, our business, financial condition and results of operations may be materially and adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are highly dependent on our chairman and other members of our management to develop and implement our strategy and to oversee our operations. If we lose key personnel, our business, financial condition and results of operations may be adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We are dependent upon the ability and experience of a number of our key personnel who have substantial experience with our operations. Such key personnel include our chairman and controlling shareholder, other members of senior management and certain members of our board of directors. Many of our key personnel have worked for us for a significant amount of time or were recruited by us specifically due to their industry experience. It is possible that the loss of the services of one or a combination of our key personnel could have a material adverse effect on our business, financial condition and results of operations. In particular, our business is particularly dependent on our chairman, who is also our controlling shareholder. We currently do not carry any key-man insurance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Our controlling group holds 672,</span><span style="font-style: italic; font-weight: bold;">312</span><span style="font-style: italic; font-weight: bold;">,</span><span style="font-style: italic; font-weight: bold;">942</span><span style="font-style: italic; font-weight: bold;"> or 35.</span><span style="font-style: italic; font-weight: bold;">87</span><span style="font-style: italic; font-weight: bold;">% of our common shares and voting rights.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our controlling group, led by our ultimate controlling shareholder, has the power to indirectly control the Company, including the power to:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">elect a majority of our directors and appoint our executive officers, set our management policies and exercise overall control over our Company and subsidiaries;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">agree to sell or otherwise transfer his controlling stake in our Company; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">determine the outcome of substantially all actions requiring shareholder approval, including transactions with related parties, corporate reorganizations, acquisitions and dispositions of assets, and dividends.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Currently, because of our share capital structure, our controlling group is able to control substantially all matters submitted to our shareholders for a vote or approval. The concentrated control will limit your ability to influence corporate matters and, consequently, we may take actions that our shareholders do not view as beneficial. Moreover, our controlling group may make decisions that are contrary to the interests of our other shareholders, and diverge from those of our minority shareholders. These may include actions to conduct acquisitions, divest assets, engage in new business partnerships and engage in new financings or similar operations. As a result, the market price of our common shares and ADSs could be adversely affected.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We operate in industry sectors that require significant financial resources that will require access to the capital markets and bank financing in significant volumes to meet our investment objectives.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">All of our businesses obtain funds for activities through loans from financial institutions, domestic and foreign lenders and through access to the capital markets. Our ability to obtain funding to finance our growth or operate our business depends on several factors, including our level of indebtedness and market conditions. Substantial volatility in the global capital markets, unavailability of financing in the global capital markets at reasonable rates and credit market disruptions have had a significant negative impact on financial markets, as well as on the global and domestic economies. In particular, the cost of financing in the global debt markets has increased substantially, restricting the availability of funds in such markets. Further, volatility in the markets has led to increased costs for obtaining financing in the credit markets, as many creditors have raised interest rates, adopted more rigorous loan policies, reduced volume and, in some cases, ceased offering financing to borrowers on reasonable terms. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If we decide to increase our debt levels, we may be subject to risks, including our inability to pay outstanding debt, which may adversely affect our financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, in connection with any new indebtedness we incur, we may be required to meet certain covenants in our financing arrangements, such as maintaining financial ratios, and may be subject to restrictions on our ability to incur new debt or make new investments. A breach of these covenants may result in a mandatory prepayment or acceleration of the maturity of our outstanding debt. In the event of a prepayment or acceleration, our assets and cash flow might not be sufficient to pay the full amount due, which would have a material adverse effect on our financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Funding, especially on terms acceptable to us, may not be available to meet our financial obligations and future capital needs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We rely on obtaining financing and refinancing of existing loans in order to operate our business, implement our strategy and grow our business. We need bank guarantees to obtain credit facilities and we typically need insurance guarantees in order to participate in court proceedings to which we are a party. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If we are unable to obtain new financing or to refinance existing loans when necessary, or obtain or renew insurance guarantees on reasonable terms or at all, we may not be able to comply with our financial obligations or explore business opportunities, and responding to competitive pressures may become challenging. This would have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our compliance and governance policies and our internal controls may not be sufficient to prevent regulatory penalties and reputation damage.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our compliance and governance policies, which include the review of internal controls over financial reporting, may not be sufficient to ensure that we are able to comply with existing and future legal, regulatory (including applicable anti-corruption and antitrust laws), accounting and other corporate governance requirements and standards. Accordingly, we, our subsidiaries and our affiliates may be subject to violations of our code of conduct and anti-corruption policies, and cases of fraudulent behavior or corrupt or anti-competitive practices by employees, contractors or other agents. Failure to comply with the applicable rules and legislation may subject us, our subsidiaries, our affiliates, our employees, contractors or other agents, to, among other things, litigation, investigations, expenses, fines, loss of operating licenses, reputation damage, preventive arrest warrants, coercive measures and other applicable sanctions, penalties and damage, each of which may adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Government policies and regulations could have a material adverse effect on our operations and profitability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Government policies in Brazil and elsewhere, in each case whether at the federal, state or local level, may adversely affect the supply and demand for, and prices of, our products or restrict our ability to do business in our existing and target markets, which could adversely affect our financial performance.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Agricultural production and trade flows are significantly affected by Brazilian federal, state and municipal, as well as foreign, government policies and regulations. Governmental policies affecting the agricultural industry, such as taxes, tariffs, duties, subsidies and import and export restrictions on agricultural commodities and commodity products, may influence industry profitability, the planting of certain crops versus others, the uses of agricultural resources, the location and size of crop production, the trading levels for unprocessed versus processed commodities, and the volume and types of imports and exports.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our natural gas distribution operations are currently concentrated in the states of S&#227;o Paulo and Rio Grande do Sul. Any changes affecting governmental policies and regulations regarding natural gas in these states (at the federal, state or municipal level) may have a material adverse effect on our business and financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, oil and oil products have historically been subject to price controls in Brazil. Currently there is no legislation or regulation in force giving the Brazilian government the power to set prices for oil, oil products, ethanol or vehicular natural gas. However, given that Petrobras, the only supplier of domestically produced oil-based fuels in Brazil, is a government-controlled company, prices of oil and oil products are subject to government influence, resulting in potential inconsistencies between international prices and internal oil derivative prices that affect our business and our financial results.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As a payment institution (<span style="font-style: italic;">institui&#231;&#227;o de pagamento</span>) and payment scheme settlor (<span style="font-style: italic;">instituidor de arranjo de pagamento</span>) in Brazil, Payly Solu&#231;&#245;es de Pagamentos S.A., or &#8220;Payly,&#8221; is subject to Brazilian laws and regulations relating to electronic payments in Brazil, comprised of Brazilian Federal Law No. 12,865/13 and related rules and regulations. Any failure by Payly to comply with such legislation could result in disciplinary or punitive action by the relevant regulators. Furthermore, we cannot assure you that Payly will be able to obtain and maintain all required operating licenses. Any of these developments could have a material adverse effect on Payly&#8217;s business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen, Moove, Compass and WX Energy are subject to the application of regulatory penalties in the event of noncompliance with the terms and conditions of their respective authorizations, including the possible revocation of such authorizations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen performs generation activities in accordance with the regulations applicable to the energy sector and with the terms and conditions of authorizations granted by the Brazilian government through ANEEL. The duration of such authorizations varies from 20 to 35 years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">ANEEL may apply regulatory penalties to Ra&#237;zen in the event of noncompliance with the authorizations or with the regulations applicable to the energy sector. Such penalties may include, depending on the seriousness of the infraction, warnings, fines (in some cases up to 2% of our revenues for the last 12 months), restrictions on Ra&#237;zen&#8217;s operations, temporary suspension from participating in public bidding procedures to obtain new permissions, authorizations and concessions, prohibition from contracting with ANEEL, and revocation of its authorizations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, Ra&#237;zen conducts its fuel distribution activities and Moove manufactures and distributes lubricants and base oil in accordance with the rules and regulations applicable to the oil and gas sector in Brazil as well as with the terms of the licenses and permits granted to them by the Brazilian government acting through the ANP. Failure to comply with the applicable rules and regulations or with the terms of the relevant licenses and permits may result in fines and other penalties (including confiscation or destruction of products, cancellation of product registrations, bans on certain facilities, and revocation of existing licenses and permits, among others). The applicable fines vary between R$5 thousand and R$5 million, depending on the gravity of the infraction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, the electricity trading operations of WX Energy Comercializadora de Energia Ltda., or &#8220;WX Energy,&#8221; which Bioenergia Barra Ltda., a wholly-owned subsidiary of Ra&#237;zen Energia, acquired on July 5, 2018, and Compass Comercializa&#231;&#227;o S.A., or &#8220;Compass Comercializa&#231;&#227;o," which was acquired on January 31, 2020, are highly regulated and supervised by the Brazilian government, including through ANEEL as well as other regulatory authorities. Such regulatory authorities have discretionary authority to implement and change policies, interpretation and rules applicable to different aspects of WX Energy and Compass Comercializa&#231;&#227;o&#8217;s&#160;businesses, especially their operations, maintenance, safety, compensation and inspection. Any significant regulatory measure implemented by the competent authorities may impose a significant burden on both companies&#8217; activities.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We cannot assure you that Ra&#237;zen, Moove, Compass Comercializa&#231;&#227;o&#160;and WX Energy will not be penalized by ANEEL, ANP or other regulatory authorities, as applicable, nor can we assure you that they will comply with all terms and conditions of their authorizations and with the regulations applicable to their respective businesses, which may have a material adverse effect on their and our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We face significant competition, which may have a material adverse effect on our market share and profitability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The ethanol and sugar industries in which Ra&#237;zen operates are highly competitive. Internationally, Ra&#237;zen competes with global ethanol and sugar producers in the United States, India, Thailand, Australia and Europe, among others. Some of Ra&#237;zen&#8217;s competitors are divisions of larger enterprises and may have greater financial resources than Ra&#237;zen has or than we have. In Brazil, Ra&#237;zen competes with numerous small to medium-size producers. The Brazilian ethanol and sugar industry remains highly fragmented. Ra&#237;zen&#8217;s major competitors in Brazil are Tereos - Guarani, Bunge, Santa Terezinha and S&#227;o Martinho, among others. Each of these producers markets ethanol and sugar products through the Cooperative of Sugarcane, Sugar and Ethanol Producers of the state of S&#227;o Paulo (<span style="font-style: italic;">Cooperativa de Produtores de Cana-de-a&#231;&#250;car, A&#231;&#250;car e &#193;lcool do Estado de S&#227;o Paulo</span>), or &#8220;Copersucar.&#8221; Copersucar consists of producers in the states of S&#227;o Paulo, Minas Gerais and Paran&#225;. Ra&#237;zen is not a member of Copersucar.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen also faces strong competition from international producers, particularly in highly regulated and protected markets such as the United States and the European Union. With regard to sugar exports, Ra&#237;zen faces intense competition from producers all around the world, including India, Thailand, and the European Union, among others. There are global producers of sugar whose costs are lower than those of Brazilian producers, including Ra&#237;zen, and whose production capacity and prices could lead to a decrease in prices on the global sugar market. Furthermore, Ra&#237;zen faces very strong competition internationally with regards to ethanol, especially from the United States. Ethanol production in the United States is based on corn-derived ethanol and is undertaken on a larger scale than Brazilian ethanol production. Accordingly, a reduction in corn prices may lead to material reductions in the price of ethanol produced in the United States and result in increased competition in the Brazilian market.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Historically, imports of sugar have not provided substantial competition for us in Brazil due to, among other factors, the production and logistical cost-competitiveness of sugar produced in Brazil. If the Brazilian government were to create incentives for sugar imports, Ra&#237;zen could face increased competition in the Brazilian market by foreign producers. Many factors influence our competitive position, including the availability, quality and cost of fertilizer, energy, water, chemical products and labor. Some of our international competitors might have greater financial and marketing resources, larger customer bases and broader product ranges than Ra&#237;zen does. If Ra&#237;zen is unable to remain competitive with these producers in the future, its market share may be adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The fuel distribution market in Brazil in which Ra&#237;zen operates is active and highly competitive. For example, we compete with domestic fuel distributors who purchase substantially all of their fuel from Petrobras and from suppliers based outside of Brazil. There are few domestic participants, such as Vibra, Ipiranga and Ra&#237;zen, who import fuels into Brazil. In addition, Ra&#237;zen competes with producers and marketers in other industries that supply alternative forms of energy and fuel to satisfy the requirements of Ra&#237;zen&#8217;s industrial, commercial and retail consumers. Certain measures currently being taken by participants in the fuel distribution market, including the expansion of their distribution networks, as well as the arrival of new participants, may result in an increase in fuel supply and a consequent decrease in fuel prices, which may have an adverse effect on our business, financial condition and results of operations. Ra&#237;zen&#8217;s main competitor in Argentina is state-owned YPF, which has more than half of the market share in the country.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Moove&#8217;s main competitors in the global lubricant market are larger and have substantially greater resources than Moove. Because of their larger capitalization, these companies may be more flexible in responding to volatile industry or market conditions, such as shortages of crude oil and other feedstock or intense price fluctuations. The actions of Moove&#8217;s competitors could lead to lower prices or reduced margins for Moove&#8217;s products, which could have a material and adverse effect on Moove and on our business, results of operations and financial performance.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Competition in the transportation services industry in which Rumo operates is intense and includes (1)&#160;competition with other transportation modes, such as road freight; (2)&#160;competition with alternative export options for agricultural products through other ports; (3)&#160;dependence on operating quality and port and terminal capacity; (4)&#160;the limitations established by the maximum tariffs established by the ANTT; (5)&#160;a reduction in road tariffs, particularly during times of declining growth rates in the economy or low demand from agricultural producers, which may limit our ability to maintain or increase rates, operating margins or growth of Rumo&#8217;s business; and (6)&#160;establishment of cooperative relationships by Rumo&#8217;s competitors to increase their ability to address shipper needs. Rumo&#8217;s main competitors are companies in the truck transportation business, which has historically been the main cargo transportation mode in Brazil. Any new measures by the Brazilian government that benefit or reduce costs for road transportation, such as cheaper toll fares or permanent suspension of the toll-road concession program, may also limit Rumo&#8217;s growth prospects. Rumo may also face significant competition from third parties if the granting authority decides to subject its maturing concessions to a rebidding process.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The market for payment processing services, in which Payly operates, is highly competitive. Other providers of payment processing services in the acquirer market have also established a sizable market share in the small and mid-sized merchant processing and servicing sector.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The intense competition in the Brazilian markets in which we operate and the actions of our competitors could lead to lower prices or reduced margins for the products we sell, as well as reductions in our sales volumes, which could have a material and adverse effect on our business, results of operations and financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Adverse weather conditions may have an adverse effect in our businesses.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen&#8217;s ethanol and sugar production depends on the volume and sucrose content of the sugarcane that we cultivate or that is supplied to us by sugarcane producers located in the vicinity of our mills. Crop yields and sucrose content depend primarily on weather conditions such as rainfall and temperature, which vary and may be influenced by global climate change. Weather conditions have historically caused volatility in the ethanol and sugar industries and, consequently, in our results of operations, by causing crop failures or reduced harvests. Flood, drought or frost, which may be influenced by global climate change, may have a material adverse effect on the supply and pricing of the agricultural commodities that we sell and use in our business. Future weather patterns may reduce the amount of sugar or sugarcane that we can recover in a given harvest or its sucrose content.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">WX Energy and Compass Comercializa&#231;&#227;o,&#160;which are energy trading companies, may also be affected by adverse weather conditions, mainly reduced rainfall. If rainfall is reduced compared to normal levels, this would result in a decrease in the flow of rivers, a reduction in the reservoirs of the hydroelectric plants, and adversely affect the generation of energy thereby leading to an increase in the price of energy traded in the local market.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">During the third and fourth quarters of 2014, a severe drought affected southeast Brazil, Comg&#225;s&#8217;s concession area, during which time residents were encouraged to save water. As a relevant portion of Comg&#225;s&#8217;s revenues is derived from the residential segment, and a significant portion of natural gas used by residential consumers is used for heating water, Comg&#225;s experienced a decrease in its net revenues derived from the residential segment. Therefore, our and Comg&#225;s&#8217;s business may be materially affected by unusual climate patterns.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Rumo&#8217;s operations may be adversely affected by climatic conditions. For example, excessive rainfall may result in a deterioration in the conditions of railroads and an increase in transit time, which may lead to losses. Infrastructure deficiencies resulting from adverse weather conditions, among other things, may make it more difficult to conduct business in the areas in which Rumo operates.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Raw material and supply service costs are subject to fluctuations that could have a material adverse effect on </span><span style="font-style: italic; font-weight: bold;">our business, financial condition and results of operations</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Raw materials used in our business and the costs of services in connection with our operations are subject to wide fluctuations depending on market conditions and government policies. For example, Comg&#225;s&#8217;s and Ra&#237;zen&#8217;s distribution of natural gas and the procurement of agricultural inputs are subject to developments in the international energy and commodity markets, to Brazilian trade and other governmental policies, and to the policies of foreign governments, among other factors. The prices charged our various businesses for inputs and services are influenced by several factors over which we have little or no control, including, but not limited to, international and national economic conditions, regulations, government policies (including, in the case of Comg&#225;s, those applicable to the pricing policies of Petrobras, its main gas supplier), tariff adjustments and global effects of supply and demand, particularly in commodity prices. We cannot assure you that we will be able to pass on any increased costs to our customers, which could decrease our profit margin and result in a material adverse effect on our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, the ongoing COVID-19 pandemic and, in early 2022, the war between Russia and Ukraine has disrupted supply chains and international trade generally, affecting in particular the supply of fertilizer globally and in Brazil. Brazil depends to a significant extent on imports of Russian and Belarusian fertilizer, which have been severely disrupted. Failure to obtain sufficient amounts of fertilizer may result in a reduction in grain production, which could affect Rumo&#8217;s transported volumes. In addition, Ra&#237;zen may be unable to obtain fertilizer (in particular nitrate) on favorable terms, sufficient quantities or at all, which could make agricultural production less efficient (potentially resulting in reduced output) or result in increases in costs (including as a result of the need to purchase other types of fertilizers). Any of these developments could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">In Brazil, Petrobras is the main supplier of base oils, </span><span style="font-style: italic; font-weight: bold;">gasoline and diesel,</span><span style="font-style: italic; font-weight: bold;"> and the dominant company in the natural gas sector. In the event of an interruption of </span><span style="font-style: italic; font-weight: bold;">fuel </span><span style="font-style: italic; font-weight: bold;">supply from Petrobras, significant disruption to Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s, Comg&#225;s</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s and Moove</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s operations and sales may occur.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Petrobras is the main fuel supplier in Brazil and the distribution policies defined by it directly affect the Brazilian energy matrix. Significant interruptions to Petrobras&#8217;s oil-based fuel supply in Brazil may occur in the future. Any interruption in the supply of oil-based fuels would immediately affect our ability to supply them to our customers. If we are unable to obtain an adequate supply of oil-based fuels on acceptable terms, we may seek to meet our demands by accessing the international market. The cost of products in the international market may be higher than the price obtained through Petrobras. Any interruption could increase our purchasing costs and reduce our sales volume, consequently adversely affecting our operating margins. In addition, we may be adversely affected if Petrobras significantly modifies its business plan or reduces its activities related to the distribution of fuel in Brazil. In particular, the current divestment plan of Petrobras suggests that Petrobras is scaling back its positions in refining and logistics, which may result in disruption of logistics services and changes to distribution policies, which may adversely affect the competitiveness of fuel distributors.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Our business</span><span style="font-style: italic; font-weight: bold;"> is</span><span style="font-style: italic; font-weight: bold;"> subject to seasonal trends.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen&#8217;s business is subject to seasonality according to the sugarcane growth cycle in the Central-South region of Brazil. The annual sugarcane harvesting period in the Central-South region of Brazil begins in April or May and ends in November or December. This creates fluctuations in Ra&#237;zen&#8217;s inventory and in its ability to generate energy, both of which usually peak in December, to cover sales between crop harvests (primarily from January to March), and a degree of seasonality in our gross profit, with ethanol and sugar sales significantly lower in the quarter ended on December 31. Rural producers of sugar and ethanol with whom Ra&#237;zen maintains a commercial relationship may experience a similar degree of seasonality, which may impact the supply of ethanol and/or other products necessary for Ra&#237;zen&#8217;s activities. Seasonality and any reduction in the volumes of sugar recovered could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen is also subject to seasonality with respect to demand for the energy which it generates and sells. Specifically, demand for energy is subject to various factors which vary from season to season according to the type of customer, geographical location and consumption type (e.g., residential, commercial or industrial), among other factors, and demand for energy and trading activities may be affected by variations in such factors.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Furthermore, Rumo is subject to the seasonality that influences the sugar production cycle and grain harvest. During the peak months of each harvest, there is higher demand for transport and logistics operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Seasonality could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are subject to developments affecting the Brazilian agribusiness sector as a whole.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We cannot assure you that in the future, the Brazilian agribusiness sector (1) will maintain the growth rate and development which it has experienced in recent years and (2) will not suffer losses due to unfavorable climatic conditions, reduction of the prices of the agricultural commodities in the national and international markets, changes in credit policies for domestic producers, both by government agencies and private entities, that may affect our income, as well as other economic and political crises that may affect the agricultural industry in general. Any deterioration in the overall condition of the Brazilian agribusiness sector may have a material adverse effect on us.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Fir</span><span style="font-style: italic; font-weight: bold;">e</span><span style="font-style: italic; font-weight: bold;"> and other disasters could affect our agricultural and manufacturing properties and our facilities and distribution networks, which would have a material adverse effect on our production</span><span style="font-style: italic; font-weight: bold;">, transportation</span><span style="font-style: italic; font-weight: bold;"> and distribution volumes and, consequently, results of operations.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our operations are subject to risks affecting our agricultural properties and facilities and distribution networks, including fire potentially destroying some or all of our crop and facilities. In addition, our operations are subject to hazards associated with the manufacture of flammable products and transportation of raw materials and flammable products. Our insurance coverage may not be sufficient to provide full protection against these types of casualties.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may be adversely affected by unfavorable outcomes in pending legal proceedings.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We are involved in a significant number of tax, civil (including regulatory and environmental) and labor proceedings. As of December 31, 2021, we had recorded a provision totaling R$1,644.0 million for proceedings in which we deem the risk of loss as probable (equivalent to R$923.1 million net of judicial deposits or restricted bank accounts). We cannot predict whether we will prevail in these or other proceedings, or whether we will have to pay significant amounts, including penalties and interest, as payment for our liabilities, which would materially and adversely impact our business and financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, unfavorable decisions in criminal proceedings involving members of our management may have a material adverse effect on us. Certain members of our management have been named as defendants in criminal proceedings (1)&#160;in their capacity as officers of the predecessor entity of Ra&#237;zen Energia for alleged artificial price fixing of fuel and the formation of a cartel with the purpose of establishing control over the regional market, (2)&#160;in their capacity as officers of Ra&#237;zen Energia and in our Company for alleged tax evasion carried out by these entities and (3)&#160;in their capacity as officers of the predecessor entities of Ra&#237;zen for the crimes of disobedience and pollution in connection with the alleged burning of sugarcane contrary to a judicial decision. In the event of a final non-appealable conviction, one or more of these officers may be barred from holding executive positions within our Company, and depending on the development of the proceedings, our reputation in the opinion of our clients, suppliers and investors may be materially adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We cannot predict whether we will prevail in these or other proceedings, or whether we will have to pay significant amounts, including penalties and interest, as payment for our liabilities, which would materially and adversely impact our business, financial condition and results of operations. If we are the subject of an unfavorable outcome in any of these legal proceedings, the amount of such unfavorable decisions will have a material adverse effect on our financial position and operating results.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our business would be materially adversely affected if operations at our transportation and distribution facilities experienced significant interruptions. Our business would also be materially adversely affected if the operations of our customers and suppliers experienced significant interruptions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The distribution of fuels, natural gas and other products is by its nature subject to inherent risks, including interruptions or disturbances in the distribution system which may be caused by accidents or force majeure events. Our operations are dependent upon the uninterrupted operation of our terminals and storage facilities and various means of transportation and distribution facilities. We are also dependent upon the uninterrupted operation of certain facilities owned or operated by our suppliers and customers. Operations at our facilities and at the facilities owned or operated by our suppliers and customers could be partially or completely shut down, temporarily or permanently, as the result of any number of circumstances that are not within our control, such as:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">catastrophic events, including hurricanes, floods and fire;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">environmental matters (including environmental licensing processes or environmental incidents, contamination, wildlife preservation obligations and others);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">labor difficulties (including work stoppages, strikes and other events);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes to legislation; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">disruptions in the supply of our products to our facilities or means of transportation.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any significant interruption at these facilities or inability to transport products to or from these facilities or to or from our customers for any reason could subject us to liability in judicial, administrative or other proceedings, even for disruptions caused by events outside of our control. If we are held liable for such events, our business, financial condition, results of operations and cash flow would be materially adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Volatility in the price of the products we sell, through subsidiaries and joint ventures, may have a material adverse effect on us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our results of operations may be significantly affected by volatility in the prices of the products we sell, through subsidiaries and joint ventures. The prices of these products are subject to significant fluctuation as a result of domestic and international demand, production volumes and global stock levels. Price volatility may have a significant impact on our results of operations, particularly if our revenues fall below our production costs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The prices at which our subsidiaries and joint ventures are able to sell their products depend on market conditions, both in Brazil and internationally, which are outside of our control. The prices at which our subsidiaries and joint ventures are able to sell their products have a significant impact on our results of operations. As is the case with other commodities, the prices of the products we sell, through subsidiaries and joint ventures, are subject to significant fluctuation as a result of natural disasters, harvest levels, agricultural investments, governmental policies (in particular with regard to the agricultural sector), trade policies, changes in supply and demand patterns, increases or decreases in purchasing power, the production of similar or competing products and other factors beyond our control. A significant portion of our products are also traded on commodities exchanges and their prices may therefore be affected by speculation on financial markets.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, the price of sugar is also affected by the obligation to comply with certain requirements relating to exports and the consequent effects on supply within Brazil. As a result, the price of sugar has historically been subject to greater volatility than the prices of other products. Sugar prices may decrease as a result of, directly or indirectly, competition from alternative sweeteners, including saccharine and high fructose corn syrup, changes in agricultural policies or international or Brazilian trade policies (including those mandated by the World Trade Organization).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any significant or prolonged decrease in the price of sugar and/or ethanol may have adverse effects on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The production of lubricants, natural gas transportation and the storage and transportation of fuel products and lubricant products are inherently hazardous.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The complex manufacturing operations performed at (1)&#160;Ra&#237;zen&#8217;s facilities (mills, terminals and its refinery in Argentina), (2)&#160;Comg&#225;s (infrastructure used in the distribution of piped natural gas), (3)&#160;Moove (a lubricants oil blending plant), and (4)&#160;Rumo (storage terminals, ports and railcars) involve a variety of safety and other operating risks, including the handling, production, storage and transportation of toxic materials. These risks could result in personal injury and death, severe damage to or destruction of property and equipment and environmental damage. A material accident at one of these could result in a suspension of operations and result in significant remediation costs and lost revenue. In addition, insurance proceeds, if available, may not be received on a timely basis and may be insufficient to cover all losses, including lost profit. Equipment breakdowns, natural disasters, and delays in obtaining supplies or required replacement parts or equipment could also have a material adverse effect on our manufacturing operations and results of operations. Disruption of transportation and logistics services or insufficient investment in public infrastructure could have a material adverse effect on operating results.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">The shareholders</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;"> and certain other definitive agreements with respect to the Joint Venture and certain other of our subsidiaries are subject to various put and call options and termination provisions.</span><span style="font-style: italic; font-weight: bold;"> </span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We have entered into certain definitive agreements with Shell with respect to the Joint Venture, Ra&#237;zen. Specifically, these agreements set forth the rights and obligations of each shareholder in respect of our and Shell&#8217;s interest in the Joint Venture and establish certain options whereby we or Shell may acquire the other shareholder&#8217;s interest in the Joint Venture, certain lock-up provisions, rules governing intra-group transfers regarding our economic group and Shell, and remedies for fundamental breaches of the documentation governing the incorporation and operation of the Joint Venture. If triggered, these provisions may cause the Joint Venture, or our participation in it, to terminate prior to the scheduled expiration date of certain of the agreements in June 2031.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In November 2016, we executed amendments to certain agreements with Shell to remove the fixed-date call options over Ra&#237;zen S.A. shares exercisable in 2021 and 2026 and replace them with certain call and put options exercisable by us or Shell in certain circumstances, including, among others, (1) fundamental breaches of the obligations provided for in the agreements governing the Joint Venture, (2) breach of anticorruption laws, (3) insolvency or bankruptcy of a party, (4) change of control and (5) in the event of the death or disability of our current Chairman, Mr. Rubens Ometto Silveira Mello or if he fails to attend meetings of the board of directors of Ra&#237;zen for 12 consecutive months. Moreover, we granted Shell a call option that is applicable if we fail to comply with certain obligations agreed upon with Shell or if certain of Ra&#237;zen&#8217;s or our financial indices are not met. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We also granted Shell a call option that can be exercised by Shell if a controlling company (referred to as a &#8220;Controlling Entity&#8221;) fails to (1) have a CEO for a period exceeding six months, (2) publish or prepare, as required by law, its financial statements under the terms and conditions agreed in the Joint Venture Agreement, or (3) if Cosan or a new shareholder of Cosan (referred to as a &#8220;New Cosan Shareholder&#8221;), as applicable, with respect to a joint venture entity (referred to as a &#8220;JV Entity&#8221;), fails to (i) appoint members to the executive board or (ii) propose names of candidates for the position of CEO of Ra&#237;zen within the period provided for in the Shareholders&#8217; Agreements. Lastly, there is a call option granted by us to Shell in the event of an involuntary delisting or involuntary suspension of the registration, as a publicly held company, of Cosan or any successor thereof.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We and Shell further agreed to renew the existing lock-up period for five years from the date of the execution of the amendment, following which the parties may sell their shares in Ra&#237;zen S.A. subject to compliance with certain preemption rights in each other&#8217;s favor.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In May 2021 and July 2021, we executed amendments to certain agreements in anticipation of Ra&#237;zen&#8217;s initial public offering, which was completed in August 2021. As part of these amendments, the lock-up period referred to above was renewed for an additional five years from July 2021. The call and put options described above remained the same. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We are also parties to shareholders&#8217; agreements, partnership agreements, association agreements and other related agreements in relation to a number of other businesses, as described under &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders.&#8221; If any of the provisions described above or other similar provisions are triggered under the shareholders&#8217; agreements or any of the other related agreements relating to the Joint Venture or our other businesses, our partnerships, or certain rights we hold in connection therewith, could terminate prior to the scheduled expiration, which could adversely affect our results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The modification, suspension, cancellation or non-renewal of the tax benefits which we have been granted could have a material adverse effect on us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We benefit from certain federal, state and municipal tax incentives, benefit programs and special regimes, including reductions in corporate income tax, suspensions of PIS and COFINS (respectively, the profit participation contribution and the social security financing contribution, both of which are social contributions due on certain revenues net of some expenses on certain products, reductions in ICMS on certain activities, and suspensions or reductions in certain other taxes (including import duties, tax on industrial products (<span style="font-style: italic;">Imposto sobre Produtos Industrializados</span>) and certain other social security charges). We cannot assure you that these tax benefits will be maintained or renewed or that we will be able to obtain new tax benefits. If we lose our existing tax benefits due to our noncompliance with future requirements or if the current tax programs and agreements from which we benefit are modified, suspended, canceled or not renewed, we could be materially and adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">A material weakness in our internal control over financial reporting has been identified, and if we fail to remediate such material weakness</span><span style="font-style: italic; font-weight: bold;"> (and any other ones) and to maintain effective internal controls</span><span style="font-style: italic; font-weight: bold;"> over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations and/or prevent fraud</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Disclosure controls and procedures over financial reporting are designed to provide reasonable assurance that information required to be disclosed by the Company is accumulated and communicated to management, and recorded, processed, summarized and reported in accordance with applicable rules.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">These disclosure controls and procedures have inherent limitations which include the possibility that judgments in decision-making can be faulty and that breakdowns occur because of errors or mistakes. Additionally, controls can be circumvented by any unauthorized management override of controls. Consequently, our businesses are exposed to risk from potential noncompliance with policies, employee misconduct or negligence and fraud, which could result in regulatory sanctions, civil claims and serious reputational or financial harm. It is not always possible to deter employee misconduct and the precautions we take to prevent and detect this activity may not always be effective. Accordingly, because of the inherent limitations in the control system, misstatements due to error or fraud may occur and not be detected.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Since the completion of the corporate reorganization of the Cosan group, which included the Merger, Cosan, as a foreign private issuer, began to be required to comply with the reporting, disclosure control and other applicable obligation under the Exchange Act, the Sarbanes-Oxley Act and Dodd Frank Act, as well as rules adopted, and to be adopted, by the SEC and NYSE.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In connection with the preparation of the audited consolidated financial statements as of and for the year ended December 31, 2021, we identified evidence of internal control deficiencies which, when aggregated, have been classified as a material weakness in our internal controls over financial reporting. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement in our annual financial statements will not be prevented or detected on a timely basis.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The material weakness identified was that management controls were insufficient to detect deficiencies in information technology, or &#8220;IT,&#8221; general controls over management systems access and monitoring of jobs that also affected the effectiveness of automated and IT-dependent business process controls. Such deficiencies in the aggregate gave rise to a material weakness in our internal control environment.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">This material weakness did not result in actual misstatements as certain mitigating actions were taken by our management to complete the analysis of our financial reporting prior to year-end, such that there were no impacts in our consolidated financial statements as of December 31, 2021. However, the material weakness described above, if not mitigated, could have resulted in a reasonable possibility that a material misstatement of our consolidated financial statements would not be prevented or detected on a timely basis in future periods. We intend to implement the appropriate remedial actions in order to mitigate the risk of future errors in our consolidated financial statements, which may include the involvement of external parties, if applicable. We cannot assure you that our efforts will be effective, that we will be able to remedy this material weakness or that we will be able to prevent any future material weakness or significant deficiency in our internal control over financial reporting. Failure to remedy any material weakness in our internal controls over financial reporting, or to implement or maintain other effective control systems required of public companies in the United States, could have a material adverse effect on our business, financial condition and results of operations and could also restrict our future access to capital markets and reduce or eliminate the trading market for our shares and ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">For details of the controls and remedial actions mentioned above, see the section of this annual report entitled &#8220;Item 15. Controls and Procedures&#8212;A. Disclosure Controls and Procedures.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Public health threats or outbreaks of communicable diseases could have an adverse effect on our operations and financial results.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We may face risks related to public health threats or outbreaks of communicable diseases. The outbreak of communicable diseases could result in a widespread health crisis that could adversely affect the global economy and our ability and our business partners&#8217; ability to conduct business in Brazil for an indefinite period of time. For example, the recent outbreak in China of COVID-19 has spread across the globe, and is already resulting in a global or regional economic slowdown, a shutdown of production and supply chains and a disruption of international trade, all of which may negatively impact the industries in which we operate.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">For example, disruptions in public and private infrastructure, including communications and financial, could materially and adversely disrupt our normal business operations. We have transitioned a significant subset of our employee population to a remote work environment in an effort to mitigate the spread of COVID-19, which may exacerbate certain risks to our business, including an increased demand for information technology resources, increased risk of phishing and other cybersecurity attacks, and increased risk of unauthorized dissemination of sensitive personal information or proprietary or confidential information about us, our hub partners, our students or other third-parties. See &#8220;&#8212;We were the target of a cybersecurity incident which disrupted our systems&#8221; and &#8220;&#8212;We could be the target of attempted cyber threats in the future and they could adversely affect our business.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">We may not be successful in meeting our environmental, social and corporate governance, or ESG, commitments, which may have an adverse effect on </span><span style="font-style: italic; font-weight: bold;">our business, financial condition, reputation and results of operations</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Market participants have been increasingly concerned with how companies assess and manage ESG risks to protect themselves and capture new opportunities. In light of this, we have sought to identify key focus areas within our business relating to adapting to the impacts of climate change, environmental management practices, working and safety conditions, respect for human rights, anti-bribery and corruption practices and compliance with applicable laws and regulations. Based on this work, we have publicly committed to meeting certain ESG targets, among which:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">help our customers reduce their carbon footprint, while taking into account the impact and the socioeconomic context in which we operate;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">offer efficient, sustainable, and safe solutions before, during and after the energy transition; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">provide cargo transportation solutions with lower levels of greenhouse gas emissions than alternative solutions; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">comply with legislation and standards applicable to the products and services we offer, environment, health and safety; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">maintain our competitiveness by researching, developing and continuously improving existing and new processes, products and services to meet the expectations of customers, employees, shareholders, suppliers and other stakeholders; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">be aware of the impact of our operations on communities and the environment, monitor and assess such impacts on a continuous basis and develop solutions that meet the demands of our stakeholders; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">create value, multiply and share opportunities along the supply chain in all sectors in which we operate; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">improve working, health and safety conditions on a continuous basis to preserve the integrity of our people and our operations; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">promote the personal and professional growth of our employees; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">fostering diversity and inclusion within our organization; and </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">develop and implement the best corporate governance practices, with a focus on ethical behavior.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Failure to meet our ESG commitments, partially or at all, may have a material adverse effect on our business, reputation, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition to the commitments we have made, there has been an increase in ESG rules and regulations applicable to our business and we expect this trend to continue. Given the pace of evolution of legislation in this area, we may not be able to comply with new regulations fully or at all. We are also exposed to the risk that future ESG rules and regulations may adversely affect our ability to run our business, require us to mark down the value of our assets or to reduce their useful life, face increased compliance costs or take other steps which may be detrimental to us. Any such developments could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The activities of Ra&#237;zen, Rumo, Moove and Compass may impact the lives and socioeconomic dynamics of communities, especially those neighboring our operating units, bioenergy parks, service stations and franchisees. These impacts may include truck, train, vehicle and pedestrian traffic, construction, property expropriation, and the displacement of communities. As a result, there may be stoppages in our operations by virtue of demonstrations in surrounding communities, as well as investigations and judicial measures by public prosecutors and other authorities. Such demonstrations or investigations may be motivated by a lack of dialogue with the communities surrounding our units.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, Ra&#237;zen, Rumo, Moove and Compass&#8217;s suppliers or resellers may engage in conduct that violates human rights and for which these companies may be jointly and severally liable in civil, labor, criminal and administrative proceedings, including by bearing damages and remediation costs. As a result, these companies may face difficulties in obtaining or maintaining operating licenses, and their reputation may be negatively affected.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Risks Related to Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen operates in industries in which the supply, demand and the market price for its products are cyclical and are affected by a number of factors and conditions in Brazil and globally.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The ethanol and sugar industries, globally and in Brazil, have historically been cyclical and sensitive to domestic and international changes in supply and demand. Ra&#237;zen&#8217;s sugar production depends on the volume and sucrose content of the sugarcane that it cultivates or is provided to it by farmers located near its plants. Crop yields and sucrose content of the sugarcane mainly depend on weather conditions, such as rainfall and temperature, which may vary and may be influenced by global climate change.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen&#8217;s ethanol and sugar production depends on the volume and sucrose content of the sugarcane that it cultivate or that is supplied to Ra&#237;zen by growers located in the vicinity of its mills. Weather conditions have caused volatility in the ethanol and sugar sectors and, consequently, in Ra&#237;zen&#8217;s operational results by causing crop failures or reduced harvests. Floods, droughts and frosts, which can be influenced by global climate change, may affect the supply and prices of the agricultural commodities Ra&#237;zen sells and uses in its business. Future climate conditions may reduce the quantity of sugar and sugarcane obtained in a given crop or the sucrose content of the sugarcane. In addition, Ra&#237;zen&#8217;s production of sugar and ethanol is contingent on its ability to incur capital expenditures to renew sugarcane crops.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Historically, the international sugar market has experienced periods of limited supply, causing sugar prices and industry profit margins to increase, followed by an expansion in the industry that results in oversupply, causing declines in sugar prices and industry profit margins. In addition, fluctuations in prices for ethanol or sugar may occur, for various other reasons, including factors beyond Ra&#237;zen&#8217;s control, such as:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">reduced demand for motor vehicles powered by internal combustion engines (including, without limitation, as a result of increased demand for electric vehicles);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">fluctuations in gasoline prices (including as a result of global oil prices);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">fluctuations in competitors&#8217; production capacities; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the availability of substitute goods for the ethanol and sugar products produced.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The prices that may be obtained for sugar depend, in large part, on prevailing market conditions. These market conditions, both in Brazil and internationally, are beyond Ra&#237;zen&#8217;s control. The wholesale price of sugar has a significant impact on Ra&#237;zen&#8217;s profits. Like other agricultural commodities, sugar is subject to price fluctuations resulting from weather, natural disasters, harvest levels, agricultural investments, government policies and programs for the agricultural sector, domestic and foreign trade policies, shifts in supply and demand, increasing purchasing power, global production of similar or competing products, and other factors beyond Ra&#237;zen&#8217;s control. In addition, a significant portion of the total worldwide sugar production is traded on exchanges and thus is subject to speculation, which could affect the price of sugar and Ra&#237;zen&#8217;s results of operations and, consequently, us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The price of sugar, in particular, is also affected by producers&#8217; compliance with sugar export requirements and the resulting effects on domestic supply. As a consequence, sugar prices have been subject to high historical volatility. Competition from alternative sweeteners, including saccharine and high fructose corn syrup changes in Brazilian or international agricultural or trade policies or developments relating to international trade, including those under the World Trade Organization, are factors that can directly or indirectly result in lower domestic or global sugar prices. Any prolonged or significant decrease in sugar prices could have a material adverse effect on Ra&#237;zen&#8217;s and our business and financial performance.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ethanol is marketed as a fuel additive to reduce vehicle emissions from gasoline, as an enhancer to improve the octane rating of gasoline with which it is blended or as a substitute fuel for gasoline. As a result, ethanol prices are influenced by the supply of and demand for gasoline, and Ra&#237;zen&#8217;s business and financial performance may be materially adversely affected by fluctuations in the demand for and/or price of gasoline. The increase in the production and sale of flex fuel vehicles (hybrid vehicles, that run with ethanol or gasoline or both combined in any proportion) has resulted, in part, from lower taxation, since 2002, of such vehicles compared to gasoline only cars. This favorable tax treatment may be eliminated and the production of flex fuel vehicles may decrease, which could adversely affect demand for ethanol.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">If Ra&#237;zen is unable to maintain sales at generally prevailing market prices for sugar and ethanol in Brazil and internationally, or if it is unable to export sufficient quantities of ethanol and sugar to assure an appropriate domestic market balance, Ra&#237;zen&#8217;s ethanol and sugar business as well as its cash flow may be adversely affected, which may have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ethanol prices are directly influenced by sugar and gasoline prices, so that a decline in those prices will adversely affect both our ethanol and sugar businesses.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The price of ethanol generally is closely associated with the sugar and gasoline prices in international and local markets. A vast majority of ethanol in Brazil is produced at sugarcane mills that produce both ethanol and sugar. Because sugarcane millers are able to alter their product mix in response to the relative prices of ethanol and sugar, this results in the prices of both products being directly correlated, and the correlation between them may increase over time. In addition, sugar prices in Brazil are determined by prices in the world market, so that there is a correlation between Brazilian ethanol prices and world sugar prices.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Because flex fuel vehicles allow consumers to choose between gasoline and ethanol at the pump rather than at the showroom, ethanol prices are correlated to gasoline prices as well and, consequently, international oil prices. We believe the correlation among the three products will increase over time. Accordingly, a decline in sugar prices will have an adverse effect on the financial performance of Ra&#237;zen&#8217;s ethanol and sugar businesses, and a decline in petroleum prices could make ethanol less competitive and reduce demand, despite increased sales of flex fuel vehicles, affecting its results and financial condition, including cash flows.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen may not be successful in its plans to sell energy from bioenergy projects, and the regulation of the electricity sector issued by the Brazilian government could adversely affect its business and financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen&#8217;s bioenergy capacity is used to generate energy for its own industrial operations and to sell the surplus in the Brazilian national interconnected system (<span style="font-style: italic;">Sistema Nacional Interligado</span>). The Brazilian government regulates the energy sector extensively. Ra&#237;zen may not be able to satisfy all the requirements necessary to enter into new contracts or to otherwise comply with Brazilian energy regulation. Changes in current regulation or in the federal program for granting authorizations, and the creation of more stringent criteria for qualifying in future public energy auctions, in addition to lower prices, may adversely affect our results of operations from our bioenergy business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Government authorities may, at their own discretion, change the regulations or the terms and conditions applicable to Ra&#237;zen&#8217;s electricity concessions, causing additional costs or diminishing projected revenues. Ra&#237;zen may be subject to regulatory penalties if we are unable to comply with the new terms and conditions. Ra&#237;zen&#8217;s authorizations are subject to review by the granting authorities with respect to the amounts Ra&#237;zen may sell in energy purchase and sale agreements, known as a &#8220;physical guarantee.&#8221; If the physical guarantee of its plants is reduced, Ra&#237;zen may have our sales capacity reduced and may be exposed to payments and penalties within the scope of the Electric Energy Sales Board (<span style="font-style: italic;">C&#226;mara de Comercializa&#231;&#227;o de Energia El&#233;trica</span>). Ra&#237;zen may also be ordered to suspend its power generation if so determined by the National Electric System Operator (<span style="font-style: italic;">Operador Nacional do Sistema El&#233;trico</span>), for example, in the event of excess generation and incapacity of the electricity grid, and Ra&#237;zen may not be fully compensated for these restrictions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Any failure to implement these plans could have a material adverse effect on Ra&#237;zen&#8217;s business, financial condition and results of operations. Additionally, regulations in the electricity sector impose the payment of various sector charges, and the total costs of these charges may be increased by government authorities, adversely affecting the business of Ra&#237;zen. In addition, cases of force majeure, acts of God, disturbances or interruptions can affect the energy transmission and distribution system.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Government policies and regulations directly related to Ra&#237;zen products may adversely affect its results through increased production costs or reduced revenues.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian government regulates the energy sector extensively. This includes the market for gasoline and diesel, which are the products we primarily distribute and sell. Thus, any intervention in or changes to the regulation of this sector may affect the prices of Ra&#237;zen products.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">More specifically, Ra&#237;zen produces and sells three main types of ethanol: hydrous ethanol, anhydrous ethanol for fuel and industrial ethanol. The primary type of ethanol consumed in Brazil is hydrous ethanol, which is used as an alternative to gasoline for flex fuel vehicles (as opposed to anhydrous ethanol, which is used as an additive to gasoline). Governmental authorities of several countries, including Brazil and the United States, currently require the use of a certain percentage of anhydrous ethanol in gasoline. Since 1997, the Brazilian Sugar and Alcohol Inter-ministerial Council (<span style="font-style: italic;">Conselho Interministerial do A&#231;&#250;car e &#193;lcool</span>), or &#8220;CIMA,&#8221; has fixed the percentage of anhydrous ethanol that must be used as an additive to gasoline. According to CIMA Resolution No. 1, dated March&#160;4, 2015, and MAPA Ordinance No. 75, dated March 5, 2015, the current percentage of anhydrous alcohol for regular gasoline (regular gasoline &#8220;C&#8221;) is 27%, and for additive/premium gasoline (gasoline &#8220;C&#8221;) is 25%. According to ANP data, approximately one-half of all fuel ethanol in Brazil is used to fuel automobiles that run on a blend of anhydrous ethanol and gasoline; the remainder is used in either flex fuel vehicles or vehicles powered by hydrous ethanol alone. Other countries have similar governmental policies requiring various blends of anhydrous ethanol and gasoline. Any reductions in the percentage of ethanol to be added to gasoline or changes in Brazilian government policies related to the taxation and use of ethanol, as well as growth in the demand for natural gas and other fuels as an alternative to ethanol, such as natural gas, may cause us significant adverse effects.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Further, new technologies may be developed or implemented to obtain alternative energy sources, and cars that use these sources may replace flex fuel vehicles. Advances in the development of alternatives to ethanol, or the development of automobiles that use energy sources other than ethanol, could significantly reduce the demand for ethanol, thereby affecting Ra&#237;zen&#8217;s sales.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen may not be able to satisfy all the requirements necessary to enter into new contracts or to otherwise comply with Brazilian energy regulation. Changes in current Brazilian regulations or authorization programs and the creation of stricter criteria for eligibility in future energy auctions, in addition to lower prices, may adversely affect Ra&#237;zen&#8217;s operating results in its energy cogeneration businesses, increase the costs of projected investments and, as a result, hinder the growth of its business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, flex fuel vehicles in Brazil are currently taxed at lower levels than gasoline-only vehicles, which has contributed to the increase in the production and sale of flex fuel vehicles. Any reduction in the percentage of ethanol required to be added to gasoline or increase in the levels at which flex fuel vehicles are taxed in Brazil, as well as growth in the demand for natural gas and other fuels as an alternative to ethanol, lower gasoline prices or an increase in gasoline consumption (versus ethanol), may cause demand for ethanol to decline and affect our business. In addition, ethanol prices are influenced by the supply and demand for gasoline; therefore, a reduction in oil prices resulting in a decrease in gasoline prices and an increase in gasoline consumption (versus ethanol), may have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Ra&#237;zen may be adversely affected by a shortage of sugarcane or by high sugarcane costs and the consequent lack of sugar cane may materially impact Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s ability to produce and distribute ethanol and sugar.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Sugarcane is the main raw material Ra&#237;zen uses for the production of ethanol and sugar. Ra&#237;zen generally enters into medium- and long-term supply contracts for periods varying from three and one-half to seven years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Ra&#237;zen&#8217;s supply of sugarcane in Brazil may be significantly reduced as a result of the termination of supply contracts or lease agreements, which may result in a shortage of sugarcane supply and an increase in the price of sugarcane. If there is a shortage of sugarcane or any supply contracts or lease agreements are terminated, Ra&#237;zen may experience a material reduction in the sugarcane available for processing or an increase in sugarcane prices, which may materially adversely affect our business, results of operation and financial condition. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In Brazil, the price of sugarcane may increase as a result of changes in the criteria established by the Association of Producers of Sugarcane, Sugar and Ethanol of the State of S&#227;o Paulo (<span style="font-style: italic;">Conselho dos Produtores de Cana-de-a&#231;&#250;car, A&#231;&#250;car e &#193;lcool do Estado de S&#227;o Paulo</span>), or &#8220;Consecana,&#8221; which is composed of sugarcane producers and sugar mill operators. The price of sugarcane is set in supply agreements, lease agreements and partnership agreements and is partially fixed and partially variable, as provided for in the criteria set forth by Consecana. As a result, any changes to the criteria established by Consecana may lead to an increase in the cost of sugarcane, which may have a material adverse effect on our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, in certain cases, as a result of the price-setting formulas in the contracts which Ra&#237;zen has entered into with its customers, Ra&#237;zen may not be able to pass on the full amount of these cost increases to its customers. This may have a material adverse effect on Ra&#237;zen&#8217;s business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Furthermore, the availability of sugarcane may be affected by various environmental and climate-related factors, including water scarcity, excessive or insufficient rainfall and other weather patterns.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen may be subject to expropriation of real estate intended for rural production.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The real estate used by Ra&#237;zen, or by third parties with whom Ra&#237;zen maintains a partnership or lease relationship, for the cultivation of sugarcane may be unilaterally expropriated by the Brazilian government for purposes of public and social interest, and we cannot assure you that the payment of the indemnification that they may have to pay to Ra&#237;zen will be fair. Pursuant to Brazilian law, the Brazilian government may expropriate the real estate of rural producers where the sugarcane is planted by necessity or for public utility or social interest, partially or totally. In the event of expropriation, we cannot assure you that the price paid by the Brazilian government will be fair or equivalent to the market value, or that it will effectively and adequately compensate Ra&#237;zen for the amounts invested. Accordingly, any expropriation of any real estate used by Ra&#237;zen, or by third parties with whom Ra&#237;zen maintains partnership or lease relationships, may adversely and significantly affect Ra&#237;zen&#8217;s financial situation and results, and may also impact Ra&#237;zen&#8217;s activities, which may have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Social movements may affect the use of Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s agricultural properties or cause damage to them.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Social movements are active in Brazil and advocate land reform and property redistribution by the Brazilian government. Invasion and occupation of agricultural land by large numbers of people is a common practice among the members of such movements, and in certain regions, including those in which Ra&#237;zen owns or leases property, remedies such as police protection or eviction procedures might be inadequate or non-existent. As a result, we cannot assure you that Ra&#237;zen&#8217;s agricultural properties will not be subject to invasion or occupation by any of such social movements. In these cases, our operations, image and reputation may be affected, and Ra&#237;zen may be subject to legal and administrative litigation that may result in criminal and administrative penalties, including, but not limited to, suspension, shutdowns, and a requirement to pay fines, which may range from R$50 to R$50 million and can be doubled or tripled in case of recurrence, which may also result in the need for additional investments.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, Ra&#237;zen may be subject to civil liabilities for environmental damage, which includes the obligation to redress any damages caused to the environment and/or public health. The demonstration of the cause-and-effect relationship between the damage caused and action or omission is sufficient to trigger the obligation to redress environmental damage.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s s</span><span style="font-style: italic; font-weight: bold;">ugar and ethanol products are sold to a small number of customers who may be able to exercise significant bargaining power concerning pricing and other sale terms.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">A non-negligible share of Ra&#237;zen&#8217;s sugar and ethanol production is sold to a small number of customers that acquire large portions of our production and thus may be able to exercise significant bargaining power concerning pricing and other sale terms. In addition, intense competition in the ethanol and sugar industries further increases the bargaining power of customers, which may have a material adverse effect on Ra&#237;zen&#8217;s sales volumes and, consequently, on us.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s export sales are subject to a broad range of risks associated with international operations.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">International activities expose Ra&#237;zen to risks not faced by companies operating exclusively in Brazil. The risks associated with international operations include:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in tax laws and regulations and other general laws and regulations applicable to activities in the sugar and ethanol sector;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in social, political and economic conditions, including recessions;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">restrictions on currency convertibility and volatility in foreign exchange markets;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">import and export quotas;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in local working conditions;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">global economic and social developments, including as a result of the COVID-19 pandemic and the ongoing war between Russia and Ukraine;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">expropriation and nationalization of assets in a particular jurisdiction; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">restrictions on the repatriation of dividends or profits.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Most ethanol and/or sugar producing countries, including the United States and member countries of the European Union, protect local producers from foreign competition by establishing government policies and regulations that affect ethanol and sugar production, including quotas, import and export restrictions, subsidies, tariffs and duties. As a result of these policies, domestic ethanol and sugar prices vary greatly in individual countries. We have limited or no access to these large markets as a result of trade barriers. If these protectionist policies continue, we may not be able to expand our export activities at the rate we currently expect, or at all, which could have a material adverse effect on our business, financial condition and results of operations. Also, if new trade barriers are established in our key export markets, Ra&#237;zen may face difficulties in reallocating products to other markets on favorable terms, and both Ra&#237;zen&#8217;s and our business and financial performance may be adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;"> may be adversely affected if the outsourcing of mechanized sugarcane cutting becomes prohibited.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen is a defendant in a public civil action in which the Public Ministry of Labor claims the prohibition of outsourcing the planting, loading and transport of sugarcane. If the Superior Labor Court changes its understanding in relation to the appeal granted to Ra&#237;zen to annul the unfavorable decision of the lower court and determines that the activities in question are intrinsic activities to our production chain (and could not be outsourced), Ra&#237;zen may be required to carry out these activities on its own on an ongoing basis (including hiring employees and purchasing suitable machinery). This could have a direct material adverse effect on Ra&#237;zen and an indirect one on us. Such material adverse effects may also arise from a similar understanding in relation to other activities outsourced by us.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen is subject to risks arising from legal proceedings based on claims related to alleged breaches of the intellectual property rights of third parties.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen is subject to risks arising from legal proceedings based on claims related to alleged breaches of the intellectual property rights of third parties. Ra&#237;zen may alter the way in which it produces, in whole or in part, products which third parties allege infringe their intellectual property rights and/or pay significant indemnification amounts, royalties or licensing fees in connection with the use of third parties&#8217; patents or copyrighted materials. The filing of a lawsuit or the review of a product that is in violation of third parties&#8217; intellectual property rights may adversely affect Ra&#237;zen&#8217;s reputation and the demand for our products. In addition, new lawsuits require the attention of Ra&#237;zen&#8217;s management, as well as additional defense costs and, in certain cases, the establishment of provisions that could affect our results.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Any mismatches between the cash outflows for the payment of litigation costs of Ra&#237;zen and the time of receipt of the related reimbursement by the Joint Venture</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s shareholders may lead to pressures on Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s cash flows.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the agreement entered into in the context of the formation of the Ra&#237;zen joint venture, we agree that we will reimburse our shareholders or be reimbursed by them, as the case may be, for any amounts received or paid in relation to the lawsuits, provided that the events triggering such payments or receipts have occurred prior to the formation of the Ra&#237;zen joint venture on June 1, 2011, and provided such amounts have actually been paid or received.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The agreement also provides that our controlling shareholders are required to indemnify us for any expenses related to litigation (tax, labor, civil and others) that have been caused by events prior to the formation of the Ra&#237;zen joint venture. Any mismatch between cash outflows to pay litigation costs and the timing of receipt of the related reimbursement by our shareholders, or any failure by our shareholders to reimburse us, could lead to pressure on our cash flows.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, Brazilian courts, in some circumstances, understand that a controlling shareholder, a successor entity of another company, a company assignee of another company&#8217;s assets and other companies subject to the common control of the assignor or predecessor company must all be liable, jointly and separately for, among other obligations, labor, social security, civil, tax or environmental obligations of the assignor, assignee or predecessor. Therefore, we may be liable for obligations of our controlling shareholders for which we have not made and do not intend to make any provisions, which could adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Crop disease and pestilence may strike our crops which may result in destruction of a significant portion of the harvest.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Crop disease and pestilence can occur from time to time and have a devastating effect on Ra&#237;zen&#8217;s crops, potentially rendering useless or unusable all or a substantial portion of affected harvests. Even when only a portion of the crop is damaged, Ra&#237;zen&#8217;s business, financial condition and results of operations could be adversely affected because we may have incurred a substantial portion of the production cost for the related harvest. The cost of treatment of crop disease tends to be high. Any serious incidents of crop disease or pestilence, and related costs, may adversely affect Ra&#237;zen&#8217;s production levels and, as a result, our net sales and overall financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Significant competition in Brazil</span><span style="font-style: italic; font-weight: bold;">,</span><span style="font-style: italic; font-weight: bold;"> Argentina</span><span style="font-style: italic; font-weight: bold;"> and Paraguay</span><span style="font-style: italic; font-weight: bold;">, as well as anticompetitive and illegal practices, may distort prices and adversely affect our market share, our operations and our profitability.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fuel distribution markets in Brazil and Argentina are highly competitive within both the wholesale and retail segments. Ra&#237;zen competes with small and large domestic fuel distributors. Large players may be more flexible than Ra&#237;zen in responding to volatile industry or market conditions, such as shortages of crude oil and other raw materials or intense price fluctuations. In addition, Ra&#237;zen competes with producers and traders in other industries that provide alternative forms of energy and fuel to satisfy the requirements of our industrial, commercial and retail customers.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Certain measures currently being taken by participants in the fuel distribution market, including the expansion of their distribution networks, as well as the arrival of new participants or the offer of alternative forms of energy and fuel, may result in an increase in competition and/or fuel supply and a consequent decrease in fuel prices, which could have an adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Intense competition and the actions of Ra&#237;zen&#8217;s competitors could lead to reduced profit margins for the products we sell, as well as reductions in sales volumes, which could have a material adverse effect on our business, financial condition and results of operations. In recent years, anticompetitive practices have been one of the main problems affecting fuel distributors in Brazil. Generally these practices have involved a combination of tax evasion and fuel adulteration, such as the dilution of gasoline by mixing solvents or adding anhydrous ethanol in an amount greater than that permitted by applicable law (the overall taxation of anhydrous ethanol is lower than hydrated ethanol and gasoline).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Taxes constitute a significant portion of the cost of fuels sold in Brazil. For this reason, tax evasion by some fuel distributors has been prevalent, which allows them to lower the prices they charge. These practices have enabled certain distributors to supply large quantities of fuel products at prices lower than those offered by the major distributors, including us, which has resulted in a considerable increase in the sales volumes of the distributors who have adopted these practices. The final prices for fuels are calculated based on the taxes levied on their purchase and sale, among other factors. If such practices become more prevalent, it could lead to lower prices or reduced margins for the products Ra&#237;zen sells, which could have a material adverse effect on our business, results of operations or financial condition.</span><br/></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Disruption of Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s transportation and logistics services or insufficient investment in public infrastructure could materially adversely affect our operating results.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">One of the principal disadvantages of the Brazilian agriculture sector is that key growing regions lie far from major ports. As a result, efficient access to transportation infrastructure and ports is critical to the growth of Brazilian agriculture as a whole and of our operations in particular. As part of its business strategy, Ra&#237;zen is investing in areas where existing transportation infrastructure is underdeveloped.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A substantial portion of Brazilian agricultural production is currently transported by truck, a means of transportation significantly more expensive than the rail transportation available to U.S. and other international producers. Ra&#237;zen&#8217;s dependence on truck transport may affect our position as a low-cost producer, such that its ability to compete in world markets may be impaired. Furthermore, Ra&#237;zen&#8217;s supply chain is dependent on road transport and may be adversely affected by weather conditions which require a decrease or stoppage in road transport. Any such impediments to road traffic along the routes typically used within Ra&#237;zen&#8217;s supply chain could require it and its suppliers to use alternative routes, which may result in delays and have a material adverse effect on Ra&#237;zen&#8217;s business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Given that a significant part of Ra&#237;zen&#8217;s sales are exported to countries other than Brazil (both with regards to sugar and ethanol), we may be adversely affected by the lack of port capacity or an increase in the costs of such port capacity as a result of limitations in supply.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen currently outsources the transportation and logistics services necessary to operate its business. Any disruption in these services, or any obligation to take over these services from existing service providers as a result of judicial orders banning the outsourcing of these services, could result in supply problems at Ra&#237;zen&#8217;s processing plants and impair its ability to deliver processed products to our customers in a timely manner. In addition, a natural disaster or other catastrophic event could result in disruption in regional transportation infrastructure systems affecting Ra&#237;zen&#8217;s third-party transportation providers.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Even though road and rail improvement projects have been considered for some areas of Brazil, and in some cases have been implemented, substantial investments are required for road and rail improvement projects, which may not be completed on a timely basis, if at all. Any delay or failure in developing infrastructure systems could hurt the demand for our products, impede our delivery of products or impose additional costs on Ra&#237;zen.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen depends on third parties to provide its customers and Ra&#237;zen with facilities and services that are integral to its business. Additionally, Ra&#237;zen depends on the renewal of contracts with retail dealers that operate Shell-branded sites in Brazil and Argentina.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen has entered into agreements with third-party contractors to provide facilities and services required for its operations, including fuel distribution, storage facilities and transportation services for Ra&#237;zen&#8217;s ethanol and sugar operations. Additionally, Ra&#237;zen depends on contracts entered into with retail dealers that operate Shell-branded sites in Brazil and Argentina. The loss or expiration of Ra&#237;zen&#8217;s agreements with third-party contractors and retail dealers, or Ra&#237;zen&#8217;s inability to renew these agreements or to negotiate new agreements with other suppliers and retail dealers at comparable rates could harm its business and financial performance. Ra&#237;zen&#8217;s reliance on third parties to provide essential services on its behalf, and retail dealers that operate Shell-branded sites in Brazil and Argentina, also gives Ra&#237;zen less control over the costs, efficiency, timeliness and quality of those services. Contractors&#8217; negligence could compromise the safety of the transportation of ethanol from Ra&#237;zen&#8217;s production facilities to its export facilities and expose Ra&#237;zen to the risk of liability for environmental damage caused by such third parties. Ra&#237;zen is expected to be dependent on such agreements for the foreseeable future, and if Ra&#237;zen enters any new market segments, Ra&#237;zen will need to have similar agreements in place.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian labor authorities, based on case law, previously prohibited the outsourcing of activities considered to be part of an entity&#8217;s core business. Noncompliance with this prohibition could result in fines and a requirement that the outsourcing be terminated. Recent decisions by the Brazilian Federal Supreme Court (<span style="font-style: italic;">Supremo Tribunal Federal</span>), or the &#8220;STF,&#8221; and recently enacted labor laws, have permitted the outsourcing of activities considered part of an entity&#8217;s core business, provided certain conditions are met. Ra&#237;zen faces the risk that (1) it may be held indirectly liable when third-party contractors fail to comply with their labor obligations, and (2) it is held jointly and severally liable with its third-party contractors where they fail to comply with their labor obligations if it is proved that there was a direct relationship between Ra&#237;zen and the outsourced employees, or in cases of fraud. Any such developments could materially adversely affect Ra&#237;zen and, consequently, us.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Ra&#237;zen</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s international operations expose Ra&#237;zen to political and economic risks in other countries.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen&#8217;s international activities expose it to risks not faced by companies that operate solely in Brazil. Risks associated with Ra&#237;zen&#8217;s international operations include: (i)&#160;foreign exchange controls; (ii)&#160;changes in the political or economic conditions in a specific country or region, especially in emerging markets such as Argentina; (iii)&#160;potentially negative consequences resulting from changes to regulatory requirements; (iv)&#160;difficulties and costs associated with our compliance with different laws, treaties and complex international regulations; (v)&#160;tax rates that may exceed those applicable in Brazil or Argentina and other countries or gains that may be subject to withholding regimes and an increase in repatriation taxes; (vi)&#160;the imposition of trade barriers; and (vii)&#160;limitations on the repatriation of undistributed profits. The realization of any of these risks may materially adversely affect Ra&#237;zen&#8217;s business, results of operations or financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The ongoing war between Russia and Ukraine may have a material adverse effect on Ra&#237;zen&#8217;s business and our own. Ra&#237;zen has limited sales operations into Russia and Ukraine. However, as a result of the war, Ra&#237;zen may be unable to obtain fertilizer (in particular nitrate) on favorable terms, sufficient quantities or at all, which could make agricultural production less efficient (potentially resulting in reduced output) or result in increases in costs (including as a result of the need to purchase other types of fertilizers). While as of the date of this annual report there have not been any material impacts from the ongoing war between Russia and Ukraine on Ra&#237;zen&#8217;s business, we are continuously monitoring the developments to assess any potential future impacts that may arise as a result of the ongoing war. The ongoing war between Russia and Ukraine, and/or economic sanctions and import and/or export controls to be imposed by the United States, the UK, the EU or others, and their adverse effects on the wider global economy and market conditions could have a material adverse effect on Ra&#237;zen&#8217;s and our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Risks Related to Gas and </span><span style="font-weight: bold;">Power</span></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The loss of our existing concessions may have a material adverse effect on our business and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In Brazil, gas distribution services are provided through concessions granted by governmental authorities. Pursuant to Law No. 8,987 dated February 13, 1995, as amended, or the Concessions Law, natural gas concessions are subject to early termination in certain events. Concession agreements may be terminated as a consequence of the following: (1)&#160;expiration of the contractual term; (2)&#160;expropriation of the concessions in the public interest (i.e., <span style="font-style: italic;">encampa&#231;&#227;o</span>); (3)&#160;forfeiture (<span style="font-style: italic;">caducidade</span>); (4)&#160;termination; (5)&#160;annulment of the concession agreement to the extent irregularities in the bidding process or the granting of the concession are identified; or (6)&#160;the bankruptcy of the concessionaire or expiration of the concession-holding entity.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Upon termination of a concession, the concession assets revert to the granting authority. Any compensation received by the concession holder upon termination may not be sufficient to offset investments made in, or the implied rate of return and the loss of future profits of, the concession. In addition, a termination of a concession would not relieve us of liability for any damages caused to third parties in connection with the provision of services or of our obligations to creditors.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If we fail to provide adequate services or if we fail to comply with applicable legal and regulatory norms and contractual clauses, including, without limitation, as a result of a negative outcome in ongoing legal proceedings, our concession agreements may be terminated, and the amount of compensation to be paid by the granting authority may be reduced as a result of the imposition of fines or other penalties, which may have a material adverse effect on our business and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Raw material and supply service costs are subject to fluctuations that could have a material adverse effect on Comg&#225;s&#8217;s results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Raw materials used in Comg&#225;s&#8217;s business and the cost of services it engages for the distribution of natural gas are subject to wide fluctuations depending on market conditions and government policies. These prices are influenced by several factors over which we have little or no control, including, but not limited to, international and national economic conditions, regulations, government policies (including those applicable to the pricing policies of Petrobras, which is our main gas supplier), tariff adjustments and global effects of supply and demand, particularly in commodity prices. We cannot assure you that Comg&#225;s&#8217;s tariff adjustment will be conducted in a timely manner or be sufficient to reflect and/or offset increases in inflation, operation costs and expenses, amortization of investments and taxes. As a result, Comg&#225;s might not be able to pass on the increased costs to its customers, which could decrease its profit margin and result in a material adverse effect on Comg&#225;s&#8217;s and our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The transportation and storage of natural gas, the import of liquefied natural gas (LNG), regasification and distribution of natural gas are inherently hazardous.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Through Comg&#225;s, our activities involve a variety of inherent hazards and operational risks, including leaks, accidents and mechanical problems. These risks could result in personal injury and death, severe damage to or destruction of property and equipment, pollution and environmental damage and a suspension of operations, which could result in significant lost revenue and other penalties. Comg&#225;s does not carry insurance against all the risks and losses to which it is exposed. In addition, insurance proceeds, if available, may be insufficient to cover all losses. The location of pipelines near populated areas, including residential areas, commercial business centers and industrial sites, could increase the level of damages resulting from these risks.&#160;The occurrence of any of these events could adversely affect our image, reputation, results of operations, cash flows and financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Variations in the price of natural gas may affect the operating costs and competitive positions of our businesses, which could adversely affect our results of operations, cash flows and financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Natural gas prices historically have been volatile and may continue to be volatile in the future. Prices for natural gas are subject to a variety of factors that are beyond our control. These factors include, but are not limited to, the level of consumer demand for, and the supply of, natural gas, processing, gathering and transportation availability, statutory gas supply purchase obligations, price and availability of alternative fuel sources, weather conditions, natural disasters and political conditions or hostilities in natural gas producing regions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, the amounts we pay under our natural gas supply agreements are composed of two components: (1)&#160;one that is indexed to a basket of combustible oils in the international market that is adjusted quarterly and (2)&#160;one that is adjusted annually based on the inflation rate. We have no control over either of these components. Furthermore, natural gas supply agreements often take the form of a &#8220;take or pay&#8221; agreement, pursuant to which we might be required to pay the difference in amounts between actual consumption and the contract amount. Variations and uncertainties in the price and demand of oil and gas are beyond our control and may adversely affect our results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may be unable to renew the term of our concession agreements, or the terms of the concession agreements may be renewed on terms that are less favorable to us, which may have a material adverse effect on our business and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We, through Comg&#225;s and Sulg&#225;s, carry out our natural gas distribution activities pursuant to concession agreements entered into with the governments of the state of S&#227;o Paulo and Rio Grande do Sul, respectively. The concession agreement of Comg&#225;s in the state of S&#227;o Paulo expires in 2049 and the concession agreement of Sulg&#225;s in the state of Rio Grande do Sul expires in 2044.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Due to the discretionary power of the government of the states of S&#227;o Paulo and Rio Grande do Sul in granting the renewal of the concession agreements, we cannot assure you that the concession agreements will be renewed, that they will be renewed on the same terms or that, to the extent they are renewed, that the amount of compensation we receive will be sufficient to cover the full value of our investment, all of which may have a material adverse effect on our business, results of operations and financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moreover, if (1) there are any changes in applicable legislation; (2) we are unable to extend any of our concessions; (3) any extension is subject to certain conditions precedent or the applicable concessions are extended on terms less favorable than those currently in place; or (4) state concession programs are cancelled, our results of operations, the implementation of our growth strategy and the normal course of our business may be materially adversely affected.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">We cannot guarantee that the results of tariff reviews pursuant to the </span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">Comg&#225;s concession agreement</span><span style="font-style: italic; font-weight: bold;"> will be supportive of our strategy.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">The principal rights and obligations of Comg&#225;s are contained in the concession agreement and in the regulations established by ARSESP. The concession agreement provides for tariff reviews, which should ordinarily occur in five-year cycles, setting the maximum margin for the prospective cycle and the rates that will apply for each segment. Any delays, disagreements with respect to tariffs or inadequate tariff adjustments relative to our costs could have a negative impact on our results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">Given the margins established in the concession agreement are prospectively set and approved by ARSESP and consider, among others, the costs, the asset base, investments, rate of remuneration, depreciation and projections for each tariff cycle, the results of prior, current and future tariff cycles may not be supportive of our strategy and/or may be challenged or amended, including as a result of third-party judicial and/or administrative proceedings.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">As part of the tariff review processes, Comg&#225;s and third parties initiated certain procedures and appeals with ARSESP, which are currently pending. They relate to certain material and formal aspects of the tariff review procedures, including with respect to required revenue formation and asset base forecast, and they could potentially result in new judicial and/or administrative proceedings related to past tariff reviews and/or could reduce our margins and adversely affect the balance of the concession, including our ability to generate revenues, our investment capacity and our operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">The liberalization of the gas market in Brazil depends on compliance by Petrobras with a </span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">cease and desist agreement (Termo de Compromisso de Cessa&#231;&#227;o), or the </span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">&#8220;</span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">TCC.</span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">&#8221;</span><span style="font-style: italic; font-weight: bold;"> Any noncompliance or delay in the implementation of the TCC may hinder or prevent the development of the natural gas market, which may have a material adverse effect on our business.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">As of the date of this annual report, Petrobras dominates the Brazilian gas market. In 2019</span>, Petrobras entered into a cease and desist agreement (<span style="font-style: italic;">Termo de Compromisso de Cessa&#231;&#227;o</span>), or TCC, with the Brazilian Antitrust Authority. The liberalization of the Brazilian gas market and our participation in it may be adversely affected <span style="background-color: #ffffff;">to the extent that Petrobras does not comply with the terms of the TCC and Petrobras</span><span style="background-color: #ffffff;">&#8217;</span><span style="background-color: #ffffff;">s dominant position in the gas sector is not reduced in the co</span><span style="background-color: #ffffff;">ming years, including through (1</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">the release of contracted and </span><span style="background-color: #ffffff;">unused capacity in pipelines; (2</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">access to all essential natural gas infrastructure; (</span><span style="background-color: #ffffff;">3</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">the sale of holdings in transportation and distribution companies; and (</span><span style="background-color: #ffffff;">4</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">the leasing of liquefied natural gas regasification terminals. Any such developments may limit our participation and the participation of other players in the natural gas market by limiting opportunities for developments, investments, and for the negotiation of gas supply and distribution.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">Any failure by Petrobras to comply in whole or in part with the terms of the TCC may adversely affect the liberalization of the Brazilian gas market, which may have a material adverse effect on </span>our business<span style="background-color: #ffffff;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">We cannot </span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">assure you that our </span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">natural gas supply contracts</span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;"> will be renewed or extended, or that we will be able to replace these contracts with agreements with alternative suppliers on favorable terms or at all</span><span style="background-color: #ffffff; font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">Our</span><span style="background-color: #ffffff;"> natural gas supply contracts have a</span><span style="background-color: #ffffff;"> definite term, which is on average</span><span style="background-color: #ffffff;"> </span>20 years. <span style="background-color: #ffffff;">W</span><span style="background-color: #ffffff;">e could be adversely affected</span><span style="background-color: #ffffff;"> if we are unable to renew or extend these contracts, or to replace them with new agreements with alternative suppliers, on favorable terms or at all</span><span style="background-color: #ffffff;">. </span><span style="background-color: #ffffff;">In recent years</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> additional participants have entered the Brazilian natural gas market, and this increase in competition has also increased the uncertainty around the renewal and/or extension of existing agreements</span><span style="background-color: #ffffff;">.</span><span style="background-color: #ffffff;"> </span><span style="background-color: #ffffff;">Failure to renew, extend or replace our natural gas supply contracts on favorable terms</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> or at all</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> could have a material adverse effect on</span><span style="background-color: #ffffff;"> our </span><span style="background-color: #ffffff;">business, financial condition and results of operations</span><span style="background-color: #ffffff;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may be forced to buy or sell energy at prices that may generate additional costs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">Our energy trading activities require us to estimate future market demand for electricity. We may be adversely affected to the extent that we overestimate or underestimate such demand.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">If we underestimate demand and buy less electricity than we need, we may be forced to buy additional electricity in the spot market at substantially higher prices than those provided for in long-term purchase contracts. We may also be unable to pass on these additional costs to our customers and would be subject to penalties pursuant to applicable regulations. On the other hand, if we overestimate demand and buy more electricity than we need (if, for example, a significant portion of our customers start purchasing electricity directly in the open market), we may </span><span style="background-color: #ffffff;">need to sell the surplus at substantially lower prices. Any significant divergence between our anticipated needs and demand for electricity may adversely affect our results of operations.</span></span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Market activities are subject to potential losses due to short-term changes in spot market prices, and may not be able to purchase sufficient electricity to honor the sales contracts.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">We may be unable to purchase the electricity we need to fulfill our sales contracts, which may expose us to short-term market prices that are significantly higher than the prices set by our medium and long-term contracts. Free market contracts are subject to possible mismatches between the volume of generated or purchased electricity (supply) and the volume of electricity sold or consumed (demand). These volume mismatches are settled by the CCEE at the differentiated settlement price (</span><span style="background-color: #ffffff; font-style: italic;">Pre&#231;o de Liquida&#231;&#227;o das Diferen&#231;as</span><span style="background-color: #ffffff;">), or the PLD. The PLD is calculated weekly and is based on the Marginal Cost of Operation, or the CMO, and is limited to minimum and maximum values, which are reviewed and set by the ANEEL annually. Changes in short-term market prices can lead to potential losses in our market activitie</span><span style="background-color: #ffffff;">s. The PLD may be impacted by (1</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">variations in </span><span style="background-color: #ffffff;">expected and verified loads; (</span><span style="background-color: #ffffff;">2</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">variations in the levels of hydr</span><span style="background-color: #ffffff;">oelectric plant reservoirs; (3</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">decreases/increases in expected and verified inflows; (</span><span style="background-color: #ffffff;">4</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">an advanced or delayed start of operations of new generators and/or transmitters; and (</span><span style="background-color: #ffffff;">5</span><span style="background-color: #ffffff;">)</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">variations in expected and verified generation of small plants. The occurrence of any of these events could lead to a significant variation in the PLD, which could result in increased costs or reduced revenue from energy sales in the short-term, and could adversely affect our cash flows.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">In addition, the purchase and sale of electricity transactions are conducted bilaterally between agents, and we are exposed to the credit risk of our counterparties. A default by one of our counterparties will expose us to market prices at that time, which could adversely affect our projected results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">We may not be successful in executing our business strategy, which </span><span style="font-style: italic; font-weight: bold;">may have a material adverse effect on us</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">Our business strategy and performance </span><span style="background-color: #ffffff;">are </span><span style="background-color: #ffffff;">dependent on implementation of financial </span><span style="background-color: #ffffff;">strategies</span><span style="background-color: #ffffff;">, including the ability to carry out successful expansions, acquisition opportunities, approval of projects by </span><span style="background-color: #ffffff;">appropriate</span><span style="background-color: #ffffff;"> authorities, variations in the financial sizing works, factors for dimensioning macroeconomic resources in other methods of use, conditions of use and dimensioning of macroeconomic resources, among others. </span><span style="background-color: #ffffff;">W</span><span style="background-color: #ffffff;">e </span><span style="background-color: #ffffff;">cannot</span><span style="background-color: #ffffff;"> </span><span style="background-color: #ffffff;">assure you </span><span style="background-color: #ffffff;">that our </span><span style="background-color: #ffffff;">strategies </span><span style="background-color: #ffffff;">will be successfully implemented, or that </span><span style="background-color: #ffffff;">they </span><span style="background-color: #ffffff;">will not affect our business and ability to expand.</span><span style="background-color: #ffffff;"> I</span><span style="background-color: #ffffff;">f we expand our current operations, we may face broader </span><span style="background-color: #ffffff;">legal, regulatory and environmental compliance requirements. More stringent regulations could</span><span style="background-color: #ffffff;"> </span><span style="background-color: #ffffff;">make it </span><span style="background-color: #ffffff;">more onerous and difficult to design</span><span style="background-color: #ffffff;"> expansion</span><span style="background-color: #ffffff;"> projects. Moreover, </span><span style="background-color: #ffffff;">we may not be able to expand our operations profitably in the timeframes we expect or at all</span><span style="background-color: #ffffff;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff;">Furthermore, we may not be able to </span><span style="background-color: #ffffff;">implement </span><span style="background-color: #ffffff;">our business strategy as planned</span><span style="background-color: #ffffff;"> fully or at all. Some </span><span style="background-color: #ffffff;">steps we take to implement our business strategy may lead us to expend time, funds and other resources which we may not able to recoup in full</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> or at all</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> if our business strategy is not implemented in full</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> or at all</span><span style="background-color: #ffffff;">,</span><span style="background-color: #ffffff;"> or if it is unsuccessful</span><span style="background-color: #ffffff;">.</span><span style="background-color: #ffffff;"> Any of these developments could have a material adverse effect on our business, financial condition and results of operations.</span></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">New rules governing the electricity market may, in the future, affect electricity prices.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">Law No. 10,848, of March 15, 2004, or Law No. 10,848/2004, requires electric distributors to contract through regulated public energy auctions, but allows customers and traders to contract for electricity in the open market through negotiated bilateral contracts. Any changes in current legislation, rules and/or market conditions may, depending on our strategy to sell electricity in the free or regulated market, prevent us from contracting at desirable prices or at all, which may have a material adverse effect on our business, results of operations, financial condition and image.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Risks Related to Moove</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Moove</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s international operations expose it to political and economic risks in other countries.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our lubricants business, &#8220;Moove&#8221; (consisting of CLE, Stanbridge Group Limited, or &#8220;Stanbridge,&#8221; Moove Lubricants Limited, or &#8220;Moove Lubricants,&#8221; (previously known as Comma Oil Chemicals Limited), TTA &#8211; SAS Techniques et Technologie Appliqu&#233;es, or &#8220;TTA,&#8221; LubrigrupoII&#8211; Com&#233;rcio e Distribui&#231;&#227;o de Lubrificantes, S.A., or &#8220;LubrigrupoII,&#8221; Cosan Lubricantes S.R.L, or &#8220;Cosan S.R.L&#8221; and Commercial Lubricants Moove Corp, or &#8220;Moove Corp,&#8221; (previously known as Commercial Lubricants, LLC (d/b/a Metrolube), or &#8220;Metrolube,&#8221;) derives approximately 9% of its revenues from exports, as it distributes and sells Mobil brand products manufactured in Brazil and sold in Bolivia, Paraguay and Uruguay. In addition, in July 2012, we acquired Moove Lubricants, which produces and distributes lubricants throughout Europe and Asia. On November 1, 2017, we also acquired Stanbridge, which distributes lubricants and fuels in the United Kingdom. In addition, Moove has started a new distribution operation under the Mobil brand in Spain, France, Portugal, the United States and Argentina, aligned with its strategy to leverage the ExxonMobil partnership and expand abroad. In the end of 2018, Moove also acquired Moove Corp, which distributes lubricant in the United States, in the states of New York and New Jersey.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moove&#8217;s international activities expose us to risks not faced by companies that operate solely in Brazil. Risks associated with our international operations include: (1)&#160;foreign exchange controls; (2)&#160;changes in the political or economic conditions in a specific country or region, especially in emerging markets; (3) potentially negative consequences resulting from changes to regulatory requirements; (4)&#160;difficulties and costs associated with our observance of different laws, treaties and complex international regulations; (5)&#160;tax rates that may exceed those applicable in Brazil and other countries or gains that may be subject to withholding regimes and an increase in repatriation taxes; (6)&#160;imposition of trade barriers; and (7)&#160;limitations on the repatriation of undistributed profits. The realization of any of these risks may have a material adverse effect on Moove&#8217;s and our business, results of operations or financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moreover, Moove exports certain of its products to Russia and Ukraine. These export sales were suspended during the first quarter of 2022. While as of the date of this annual report there have not been any material impacts from the ongoing war between Russia and Ukraine on Moove&#8217;s business, we are continuously monitoring the developments to assess any potential future impacts that may arise as a result of the ongoing war. The ongoing war between Russia and Ukraine, and/or economic sanctions and import and/or export controls to be imposed by the United States, the UK, the EU or others, and their adverse effects on the wider global economy and market conditions could have a material adverse effect on Moove&#8217;s and our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We may not be able to maintain or renew certain agreements with third parties which are important to our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our business, financial condition and results of operations may be materially and adversely affected if we are unable to maintain or renew certain agreements (including, without limitation, supply agreements, service contracts, licensing agreements, distribution agreements, joint ventures, partnerships and others) with third parties which are important to our business and operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On November 1, 2017, we acquired Stanbridge, which distributes lubricants and fuels in some regions of the United Kingdom. The company, via its subsidiaries, had a non-exclusive supply and service agreements for supply and delivery of ground fuel with the company operating Heathrow Airport. Such agreements had been extended until Airport Energy Services Limited (a subsidiary of Stanbridge) was awarded on July 30, 2020 a new agreement with Heathrow Airport Limited for the supply and delivery of ground fuel at Heathrow Airport. This agreement commenced on August 1, 2020 and will continue in full force and effect until March 31, 2025. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We, through our subsidiary Moove, are the manufacturer and exclusive distributor of lubricants in Brazil based on formulas that have been provided under the terms of the Principal Lubricants Agreement that we have entered into with ExxonMobil. On March 19, 2018, we entered into an agreement with ExxonMobil Lubricants Trading Company which grants our subsidiary Moove the exclusive production, import, distribution and marketing rights in Brazil, Bolivia, Paraguay and Uruguay of lubricants and certain other related products under the Mobil brand until November 30, 2038. This agreement came into force on December 1, 2018. The termination or failure to renew these agreements, or the failure by ExxonMobil to adequately maintain and protect its intellectual property rights, could materially and adversely affect our results of operations or could require significant unplanned investments by us if we are forced to develop or acquire alternative technology. In the future, it may be necessary or desirable to obtain other third-party technology licenses relating to one or more of our products or relating to current or future technologies to enhance our product offerings. However, we may not be able to obtain licensing rights to the needed technology or components on commercially reasonable terms or at all.</span></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Risks Related to Logistics</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Rumo depends on a few major customers for a significant portion of its revenue.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The majority of the cargo Rumo transports is for the agricultural commodities industry. Rumo&#8217;s major clients are export companies participating in this market, such as Bunge, Cargill, ADM, COFCO, Louis Dreyfus and Amaggi. Those clients accounted for a significant share of Rumo&#8217;s total net revenue. We cannot guarantee that Rumo will obtain similar revenue from its major clients in the future. Any change by Rumo&#8217;s major clients in their demand for transportation services, including logistics services, may have a material adverse effect on Rumo&#8217;s business, financial condition and results of operations. Moreover, Rumo&#8217;s revenue predominantly derives from transportation agreements between Rumo and its clients. We cannot guarantee that these transportation agreements will be renewed once they have expired. Failure to renew or otherwise extend these agreements may adversely affect Rumo&#8217;s and our business, financial condition and results of operations. For further information, see &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Logistics&#8212;Overview&#8212;Major Customers.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s significant indebtedness could adversely affect its financial health and prevent it from fulfilling its indebtedness obligations, which would have a material adverse effect on us, our financial condition and reduce our ability to raise capital to finance our investments and our results of operations and would adversely impact our ability to recover from economic changes.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, Rumo&#8217;s gross indebtedness was R$21,178.7 million (of which R$1.222.7 million was short-term indebtedness). As of December 31, 2020 and 2019, Rumo&#8217;s gross indebtedness was R$19,912 million and R$11,720.2 million, respectively (of which R$2,504.2 million and R$1,064.8&#160; million, respectively, were short-term indebtedness).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo&#8217;s indebtedness level and the composition of its indebtedness could have important consequences to its business. For example, it could: (1) require Rumo to reserve a substantial part of its operational cash flows to pay principal and interest on Rumo&#8217;s indebtedness, which will reduce the availability of its cash flow to fund working capital, capital expenditures, acquisitions and investments; (2) limit its flexibility in planning for, or reacting to, changes in our business and the industry in which we operate; (3) limit its ability to borrow additional funds, obtain bank guarantees or collateral insurance and generally increase its borrowing costs; and (4) place Rumo at a competitive disadvantage compared to our competitors that have less indebtedness.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, certain of Rumo&#8217;s financing agreements are subject to early maturity due to cross default and cross acceleration provisions in case Rumo fails to comply with certain nonfinancial covenants or defaults on certain of its financial obligations under such financing agreements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any of the aforementioned developments could have a material adverse effect on Rumo as well as on us, our financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo is subject to certain global and domestic market forces that </span><span style="font-style: italic; font-weight: bold;">could</span><span style="font-style: italic; font-weight: bold;"> have an adverse effect on its business and results of operations. </span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The transportation and logistics industries are highly cyclical and generally subject to fluctuations in the global economy. As a result, Rumo&#8217;s operations are subject to a number of risks that could adversely impact its results of operations, including, among others: (i) global and Brazilian macroeconomic conditions, (ii) global demand for agricultural and other commodities, (iii) Brazil&#8217;s competitiveness versus other countries for the supply of agricultural commodities, (iv) the competitiveness of domestic transport and logistics providers in Brazil, (v) local demand for transportation of agricultural commodities to foreign markets, (vi) efficient operation of its railroad to meet transportation demand, (vii) shutdowns, blockades, demonstrations, changes in legislation or strikes that interfere with Rumo&#8217;s operations and the operations of its business partners, whether on the highway, railroad or port, (viii) specific market factors, and (ix) changes in demand from customers that operate in highly cyclical industries, such as oil and gas and agriculture.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, the ongoing war between Russia and Ukraine may have a material adverse effect on Rumo&#8217;s business and, consequently, our own. Rumo has purchased railroad tracks from Russian companies in the past. While we expect that Rumo will be able to source these tracks from other, non-Russian suppliers if needed, the prices charged and terms demanded by these alternative suppliers may not be as favorable as those which Rumo has obtained in the past. In addition, Brazil depends to a significant extent on imports of Russian and Belarusian fertilizer, which have been severely disrupted. Failure to obtain sufficient amounts of fertilizer may result in a reduction in grain production, which could affect Rumo&#8217;s transported volumes. While as of the date of this annual report there have not been any material impacts from the ongoing war between Russia and Ukraine on Rumo&#8217;s business, we are continuously monitoring the developments to assess any potential future impacts that may arise as a result of the ongoing war. The ongoing war between Russia and Ukraine, and/or economic sanctions and import and/or export controls to be imposed by the United States, the UK, the EU or others, and their adverse effects on the wider global economy and market conditions could have a material adverse effect on Rumo&#8217;s and our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s concessions to operate port terminals are subject to expiration, limitation on renewal and early termination by granting </span><span style="font-style: italic; font-weight: bold;">authorities</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo leases 118,434.38 square meters of property located in the port of Santos (State of S&#227;o Paulo), which has two docking cradles for loading sugar and solid agricultural bulk (corn and soy). Pursuant to the lease agreement, Rumo has an obligation to make investments totaling an estimated R$308 million, of which approximately 92% has already been invested by Rumo and/or its subsidiaries as of December 31, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo also holds equity interests in: (1)&#160;Terminal XXXIX and the adjacent areas for moving agricultural products and bulk, as well as other goods capable of being transported in those port installations, through a port lease agreement due to expire in 2050; (2)&#160;facilities, equipment and track for rail transport of goods and import/export through the right bank of the port of Santos, by means of a lease agreement with Portofer Transporte Ferrovi&#225;rio Ltda., or Portofer, due to expire in 2025; (3)&#160;Terminal de Gran&#233;is do Guaruj&#225;, or TGG, located on the left bank of the port of Santos, for the transport of solid and liquid bulk, through an area used by Rumo Malha Norte S.A., or &#8220;Malha Norte,&#8221; via a leasing agreement due to expire in 2027; and (4)&#160;Terminal Mar&#237;timo do Guaruj&#225;, or TERMAG, located on the left bank of the port of Santos, mainly for the transport of solid and liquid bulk, through an area used by Malha Norte via a lease agreement due to expire in 2027.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There is an ongoing legal proceeding regarding whether the lease agreements (as amended) relating to Terminal XXXIX, TGG and TERMAG should be subject to the public bidding procedures. This proceeding is currently under appeal in the Brazilian superior courts (<span style="font-style: italic;">Superior Tribunal de Justi&#231;a</span> and <span style="font-style: italic;">Supremo Tribunal Federal</span>). Rumo&#8217;s business could be adversely affected as a result of such lawsuits, since all revenues from the movement of solid bulk in relation to the contract in question may no longer be earned if the relevant lease agreement is declared void. With regard to the Portofer lease agreement, there is a public civil action filed by the Brazilian Federal Prosecutors&#8217; Office, to challenge the legal validity of the agreement. See &#8220;Item 8. Financial Information&#8212;A. Consolidated Statements and Other Financial Information&#8212;Legal Proceedings&#8212;Possible Losses&#8212;Portofer lawsuit.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If Rumo&#8217;s subsidiaries fail to comply with the applicable regulatory rules or contractual obligations relating to their terminals, their leases may be terminated early pursuant to the Concession La<span style="background-color: #ffffff;">w (Law No.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">8,987/1995)</span>, which applies to port leases. Below is a list of the termination events applicable to Rumo&#8217;s subsidiaries&#8217; port lease agreements:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the expiration of Rumo&#8217;s lease (currently in 2036, which can be legally extended up to 2066 through new investments);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">encampa&#231;&#227;o</span>, which is the possibility of expropriation of the port concessions by the granting authority during the contractual term. Such expropriation must be in the public interest, performed pursuant to applicable authorizing law and requires the payment of an indemnity for investments not yet depreciated, if applicable;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">a statement of forfeiture, which occurs, at the granting authority&#8217;s sole discretion, in case of total or partial non-performance of the lease, without prejudice to the application of other contractual penalties. The forfeiture may be declared under the following circumstances: (1)&#160;the service is not being provided adequately (i.e., there has been a breach of the minimum transport requirements); (2)&#160;failure to undertake the investments stipulated in the agreement; (3)&#160;breach of contractual obligations; (4)&#160;transfer of the agreement without prior consent from the granting authority; (5)&#160;obstruction of audits carried out by the granting authority; (6)&#160;changes to the contractual objective; (7)&#160;failure to maintain or conserve the leased facilities; (8)&#160;default in financial obligations set out in the agreement; or (9)&#160;loss by us of the economic, technical and operating conditions required for the adequate provision of services set out in the agreement. The forfeiture must be preceded by the verification of the default in an administrative proceeding in connection with which we have a right of defense;</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">termination by the lessee in the event of breach of contractual provisions or rules established by the granting authority by means of judicial action for this specific purpose;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">annulment; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">bankruptcy or extinction of the lessee.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The lease agreements and applicable legislation confer several rights of the granting authority pursuant to the specific rules and regulations for the industry. Accordingly, there are contractual provisions that allow, among other things, amendments to the agreement, assignment and/or transfer of the lease agreement (the latter subject to prior consent from the granting authority), provided, however, that all amendments to the agreement must abide by the rules and proceedings set out in the specific law or regulation.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Termination of Rumo&#8217;s port lease agreements may adversely impact Rumo&#8217;s transportation costs and the turnaround time for the export of Rumo&#8217;s products, as well as Rumo&#8217;s revenues from service agreements related to Rumo&#8217;s port facilities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, port assets deemed essential to the continuity of port operations will revert to the granting authority upon expiration of the concession. The reversion following expiration is subject to indemnification for investments in assets not yet amortized or depreciated which were undertaken to guarantee service continuity. Upon termination of the concession, it is possible that the investments made in those assets will have not been entirely amortized or depreciated. In this case, Rumo and the granting authority will negotiate the amount of any indemnification for such investments, to the extent such investments have been previously approved by the granting authority. As the final decision on this amount will be made solely by the granting authority, Rumo&#8217;s financial condition may be negatively impacted if indemnification eventually approved is not sufficient to compensate us for the investments made.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any of the aforementioned developments could have a material adverse effect on Rumo as well as on us, our financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We cannot estimate the impact of new regulations applicable to port operations in Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Until December 6, 2012, port operations in Brazil were governed by Federal Law No. 8,630/1993, or the Ports Modernization Law, which provided the legal framework applicable to the development and operation of government-owned port terminals and facilities in Brazil. In view of the need to improve the applicable legislation, the Brazilian government implemented Law No. 12,815/2013, as amended by Law No. 14,047, dated August 24, 2020, or the &#8220;Ports Law,&#8221; which expressly revoked the Ports Modernization Law and established a new legal framework with respect to port operations in Brazil. As a result, public ports are regulated by the Ports Law and by specific complementing regulations, such as Decree No. 8,033/2013.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">According to the provisions of the Ports Law, there are no more distinctions between third-party and own cargo handled at private port terminals. As a result, public ports are expected to face higher competition. Accordingly, it is possible that Rumo may not be able to reach the minimum cargo movement provided for in its concession agreement for the exploitation of public port terminals, which may subject it to fines and, upon repeated violations, to the early termination of the concession. Even though the Ports Law does not provide for the adjustments of the terms of any concession agreement currently in place, it is possible that new regulations may include such provision. New regulations applicable to port operations in Brazil that might cause an adjustment of the terms in Rumo&#8217;s concession agreements may adversely affect our results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The loss of Brazilian railway concessions may have a material adverse effect on our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian railway concessions are subject to early termination in certain circumstances, including the Brazilian authorities reassuming control of the service pursuant to applicable law or by the termination of the relevant concession for breach of any underlying contractual agreements, in particular the inadequate provision of rail transportation services provided for in the concession agreements. Pursuant to Law No. 8,987 of February 13, 1995, or the &#8220;Concession Law,&#8221; concession agreements may be terminated as a consequence of: (1)&#160;expiration of the contractual term; (2)&#160;expropriation of the port concessions in the public interest (i.e., <span style="font-style: italic;">encampa&#231;&#227;o</span>); (3)&#160;forfeiture (<span style="font-style: italic;">caducidade</span>); (4)&#160;termination; (5)&#160;annulment; (6)&#160;bankruptcy; or (7)&#160;expiration of the concession-holding entity.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Encampa&#231;&#227;o</span> is the seizure of the service by the granting authority during the concession term to the benefit of public interest, by means of a specific authorizing law and after payment of an indemnity. The granting authority may declare the forfeiture of the agreement in the cases in which the concessionaire recurrently defaults on its obligations, or annulment in the cases that the bidding documents for the concession or the concession agreement are tainted by unlawful provisions, or declare penalties, due to total or partial non-performance of the agreement. The granting authority may forfeit the concession when, among other events: (1)&#160;the service is being rendered in an inadequate or insufficient manner, according to the norms, criteria, indicators and parameters defining the quality of the service; (2)&#160;the concessionaire breaches contractual, regulatory or legal provisions concerning the concession; (3)&#160;the concessionaire interrupts the service other than for acts of god or force majeure events; (4) the concessionaire no longer possesses the economic, technical or operational conditions required to adequately render the services under the concession; (5)&#160;the concessionaire does not comply with the penalties imposed for breaches within the established deadlines; (6)&#160;the concessionaire fails to comply with the subpoena of the granting authority in order to regularize the service providing; and (7)&#160;the concessionaire does not comply with the subpoena of the granting authority to, within 180 days, present the documentation related to fiscal regularity, in the course of the concession, as provided by law.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Upon termination of a concession, the leased or operated assets revert to the granting authority, and the amount of compensation received may not be sufficient to cover the losses incurred by us as a result of such early termination. In addition, certain creditors may have priority with regard to such compensation.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, pursuant to the terms of Rumo&#8217;s concession agreements, the granting authority may intervene in the concession to ensure that the relevant services are being provided as well as to ensure compliance with the applicable contractual clauses and legal and regulatory norms.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">An early termination of Rumo&#8217;s concession agreement, as well as the imposition upon Rumo of penalties associated with such termination and interventions in our management, may have a material impact on Rumo&#8217;s operating results and affect our payment capacity and ability to meet our financial obligations, as well as damage our reputation.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Certain of </span><span style="font-style: italic; font-weight: bold;">Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s</span><span style="font-style: italic; font-weight: bold;"> assets are involved in the provision of public rail transport services and, as a result, would not be available to honor </span><span style="font-style: italic; font-weight: bold;">Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s</span><span style="font-style: italic; font-weight: bold;"> obligations in the event of execution, liquidation or insolvency, which may have an adverse effect on </span><span style="font-style: italic; font-weight: bold;">Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s</span><span style="font-style: italic; font-weight: bold;"> business. </span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A substantial part of Rumo&#8217;s assets is involved in the provision of public services. Such assets will not be subject to liquidation in the case of Rumo&#8217;s bankruptcy nor may they be the subject of an order to guarantee the execution of a judicial sentence. Pursuant to legislation currently in force and to the concession agreements to which Rumo is a party, upon the maturity of the respective concession agreements or upon their early termination, Rumo&#8217;s assets involved in the provisions of public rail transport services will revert to the granting authority free and clear of any liens or encumbrances and may not be subject to attachment or liquidation. Accordingly, if any indemnities to be paid by the granting authority to us for these reversions are lower than the market value of the reverted assets, the amounts available for distribution to Rumo&#8217;s shareholders, including us, may be significantly reduced.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo may not obtain an early renewal of the </span><span style="font-style: italic; font-weight: bold;">Rumo </span><span style="font-style: italic; font-weight: bold;">Malha Sul </span><span style="font-style: italic; font-weight: bold;">S.A., or &#8220;Rumo Malha Sul,&#8221;</span><span style="font-style: italic; font-weight: bold;"> </span><span style="font-style: italic; font-weight: bold;">concession agreement, currently under review by the Brazilian Transportation Authority (Ag&#234;ncia Nacional de Transporte Terrestre), or ANTT, which may have a material adverse effect on Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s investment plan and growth strategy.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The concession agreement for Malha Sul expires in 2027. Rumo has already filed a formal request for an early renewal of the term of this concession agreement, similarly to the request made in connection with the renewal of the Rumo Malha Paulista S.A., or &#8220;Rumo Malha Paulista,&#8221; concession agreement already approved by ANTT. See &#8220;&#8212;Rumo made certain commitments in connection with the Rumo Malha Paulista early renewal agreement and may incur additional liability if it fails to comply with them.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In the meantime, Law No. 13,448/2017 was enacted following the conversion into law of Provisional Measure No. 752/2016 which defines the general rules governing extensions of concessions, including early renewals, as well as re-bidding of partnership contracts of the federal public administration pursuant to the provisions of Law No. 13,334/2016, in the road, rail and airport sectors. Pursuant to the terms of the new law, the granting authority will perform re-bidding if there is a breach of contract or if the concession holders are no longer capable of fulfilling the contractual and financial obligations originally undertaken. In the case of early renewals, rail concession holders must demonstrate provision of adequate services, including compliance with production and safety targets or of safety targets set forth in the applicable contracts, pursuant to the provisions of article 6, paragraph 2 of Law No.&#160;13,448/2017. In addition, contract amendments must contain a timeline for required investments and include measures to discourage potential noncompliance or delay in complying with obligations (such as the annual rebalancing discount and the additional grant payment).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We cannot guarantee that Rumo&#8217;s requests for renewals will be successful or that they will occur within the timeframe which we anticipate. In addition, any early renewal may be subject to certain conditions precedent or the applicable concessions may be renewed on terms less favorable than those currently in place. Rumo may also face significant competition from third parties if the granting authority decides to subject our maturing concessions to a re-bidding process.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo made certain commitments in connection with </span><span style="font-style: italic; font-weight: bold;">the Rumo Malha Paulista</span><span style="font-style: italic; font-weight: bold;"> early renewal agreement and may incur additional liability if it fails to comply with them.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The concession contract for Malha Paulista was initially going to expire in 2028. In September 2015, Rumo filed a formal request with ANTT for an early extension of the term of this contract. Such request resulted in the signature of the Second Addendum to the Concession Agreement of Rumo Malha Paulista of December 30, 1998 and its respective attachments, or the &#8220;Addendum,&#8221; on May 27, 2020, which gives Rumo Malha Paulista the right to extend the term of its concession contract, subject to certain conditions precedent. Due to the signing of the Addendum, the new value of the concession grant is of approximately R$3.4 billion (of which R$2.8 billion has already been paid), to be paid in quarterly installments over the term of the contract until 2058, with estimated investments of R$6.1 billion (as of December 2017) over the same period.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo may not be able to comply with all of the conditions imposed by the public authority in the Addendum, which could prevent Rumo from extending the concession to 2058. Failure to comply with such conditions may subject Rumo to sanctions.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s Brazilian rail tariffs are subject to a maximum rate established by the Brazilian government.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under Rumo&#8217;s rail network concession agreements, tariffs for our rail freight services are subject to a maximum rate. Maximum tariff rates that Rumo is allowed to charge are adjusted for inflation according to variations in the Price Index-Domestic Supply (<span style="font-style: italic;">&#205;ndice Geral de Pre&#231;os &#8211; Disponibilidade Interna</span>), or IGP-DI index (or a substitute index) in accordance with applicable Brazilian law or concession agreements. Currently, tariff adjustments are performed on an annual basis, at different months of the year, depending on the terms of each concession agreement. Additionally, the tariffs Rumo charges for rail freight services on our rail network can be revised upward or downward if there is a justified, permanent market and/or costs change that may alter the rail network concession agreements&#8217; economic and financial balance, or as determined by the Brazilian government every five years. The mechanisms for restoring the financial balance are defined in Brazilian law or in the agreements and must be requested by the non-breaching party along with adequate economic evidence.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In 2012, the ANTT implemented a review of reference rates that altered the original methodology for defining such rates. The use of revised rate charts could affect Rumo&#8217;s capacity to generate revenues, as such review revised most rates downward and established a cap for Malha Norte, which originally was not subject to a cap.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ANTT may implement a review of the reference rates, changing the methodology for defining the tariffs originally established. Any application of revised tables may impact Rumo&#8217;s revenues and we cannot guarantee that future tariffs will be set at a level that will allow Rumo to continue operating profitably.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">We cannot predict the outcome of an investigation into the conduct of former employees of </span><span style="font-style: italic; font-weight: bold;">ALL &#8211; Am&#233;rica Latina Log&#237;stica S.A., or &#8220;ALL,&#8221;</span><span style="font-style: italic; font-weight: bold;"> prior to its acquisition by Rumo.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">During 2016, Rumo became aware of certain press reports alleging that improper payments to government officials were made by former employees of ALL (prior to being acquired by Rumo) in connection with an investment by <span style="font-style: italic;">Fundo de Investimento do Fundo de Garantia do Tempo de Servi&#231;o</span>, or &#8220;FI-FGTS,&#8221; in Rumo&#8217;s indirect subsidiary Brado Log&#237;stica and in ALL. As a result of these allegations, Rumo hired external advisors to conduct an internal investigation. Upon completion of the investigation, in July 2016, we voluntarily submitted a report to the Public Prosecutor&#8217;s Office, clarifying that the facts found refer to the period prior to our merger with ALL.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo has been made aware that information regarding this investigation report was added to the records of a criminal investigative procedure initiated by the Federal Prosecutor&#8217;s Office to investigate these and other facts. As of the date of this annual report, this investigative proceeding is ongoing. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In June of 2021 Rumo became aware of certain press reports alleging that a former chief executive officer of ALL (prior to being acquired by Rumo) had been involved in suspicious payments made in 2013 to companies connected to a certain politician. Rumo immediately investigated and informed the legal authorities. These payments had been also reported in 2016 to the legal authorities, as noted above. A criminal investigation is ongoing, but Rumo is not a party to this criminal investigation. As of the date of this annual report, we can neither predict the outcome of the criminal investigation, the consequences of any findings or any measures that may be taken by local authorities, any of which may have a material adverse effect on Rumo.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Rumo may not be successful in reducing operating costs and increasing operating efficiencies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo may not be able to achieve expected cost savings, which rely on several factors such as rail track prices, railroad ties, fuel, iron, engineering and other resources required for our operations. Given the competitive markets in which Rumo operates (in which prices are often set by global market conditions), it is possible that Rumo will not be able to pass increases in costs of materials onto the price of our services (including as a result of limits applying to our tariffs), which would materially and adversely affect its financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Downturns in certain cyclical market sectors in which Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s customers operate and seasonal trends could</span><span style="font-style: italic; font-weight: bold;"> </span><span style="font-style: italic; font-weight: bold;">have a material adverse effect on Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s business.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The transportation and logistics industries are highly cyclical, generally tracking the cycles of the world economy. Accordingly, the transportation industry is affected by macroeconomic conditions and by various factors within each particular industry that may influence operating results. Some of Rumo&#8217;s customers do business in highly cyclical markets (including as a result of harvest seasonality), including the oil and gas and agricultural sectors.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Soybean harvests generally occur between January and May, corn harvests (mainly for export) generally occur between April and July and sugar harvests generally begin in April or May and end in November or December. For this reason, Rumo typically transports larger volumes of goods in the second and third quarters of each year and lower volumes in the &#8220;off season&#8221; (i.e., the first and fourth quarters of each year).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any downturn in these industries may have a material adverse effect on Rumo&#8217;s business, financial condition and results of operations. In addition, some of the products Rumo transports have shown a historical pattern of price cyclicality, which has typically been influenced by the general economic environment, industry capacity and demand. Rumo is also subject to the risk that sugarcane mills may change their production mix in favor of ethanol if the relative prices of the two products swing that way. This could reduce the demand for sugar logistics and transport.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We cannot assure you that prices and demand for these products will not decline in the future, adversely affecting those industries and, in turn, Rumo&#8217;s and our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo operates in a competitive industry, and if it is unable to adequately address factors that may adversely affect its revenue and costs, Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s business could suffer.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">An increase in competition may reduce Rumo&#8217;s revenues and result in smaller profit margins or the loss of market share. Rumo&#8217;s business, financial condition and results of operations may be adversely affected if we are not able to adequately compete in the market.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Competition in the transportation services industry is intense and includes:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">competition with other transportation modes, such as road freight;</span></li>
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<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">competition with alternative export options for agricultural products through other ports (particularly in the northern region of Brazil) to the detriment of the ports of Santos (State of S&#227;o Paulo), Paranagu&#225; (state of Paran&#225;) and S&#227;o Francisco do Sul (State of Santa Catarina);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">dependence on operating quality and port and terminal capacity;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the limitations established by the maximum tariffs established by the ANTT;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">a reduction in road tariffs, particularly during times of declining growth rates in the economy or low demand from agricultural producers, which may limit Rumo&#8217;s ability to maintain or increase rates, operating margins or growth of its business; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">establishment of cooperative relationships by Rumo&#8217;s competitors to increase their ability to address shipper needs.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo&#8217;s main competitors are companies in the truck transportation business, which has historically been the main cargo transportation mode in Brazil. According to the CNT, trucks transported 65% of Brazil&#8217;s production in 2020, while only approximately 15% of that production was transported by rail and approximately 20% was transported on waterways, which includes coastal shipping. Although Rumo is expanding our intermodal services via truck transportation, any new measures by the Brazilian government that lower costs for road transportation, such as cheaper toll fares or permanent suspension of the toll-road concession program, may limit Rumo&#8217;s growth prospects.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">New measures by the Brazilian government that benefit or reduce costs for road transportation, such as cheaper toll fares or permanent suspension of the toll-road concession program, may limit our growth prospects.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Increased competition may lead to decreases in Rumo&#8217;s revenues, smaller profit margins or loss of market share. This may adversely impact Rumo&#8217;s and our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rumo operates in a regulated environment, and measures taken by public authorities may impact Rumo</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;">s activities.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The rail services which Rumo provides are regulated and supervised by the Brazilian government and in particular by the Brazilian Ministry of Transportation, Ports and Civil Aviation, as well as the ANTT. The ANTT regulates various aspects of the business of companies active in the Brazilian rail sector, including with regard to requirements for investments, expenses, determination of revenue, and the setting of tariffs in order to guarantee regularity, continuity, efficiency, safety and affordability. These activities are intensely regulated through laws, decrees, provisional measures, ordinances, resolutions and other regulatory and legislative actions. Changes to legislation or regulation relating to the rail sector may adversely affect Rumo&#8217;s business, financial results and operating results.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, Rumo&#8217;s railroad concession agreements have been entered into with the Brazilian Ministry of Transportation, Ports and Civil Aviation (currently known as the Brazilian Ministry of Infrastructure and acting as granting authority when the grants took place), later substituted by the ANTT after the enactment of Law No. 10,233/2001. Rumo&#8217;s operations take place in a highly regulated environment because concessions agreements are administrative contracts. Such contracts are therefore subject to public law, which gives the granting authority the right to: (1) amend the contracts unilaterally when in the public interest (while respecting the rights under the contract); (2) unilaterally terminate the contracts in the instances provided for in Law No. 8,666/1993; (3)&#160;supervise the execution of the contracts; and (4) impose sanctions in the case of partial or complete noncompliance with the adjustment (among other instances).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Therefore, notwithstanding the concessionaire&#8217;s right to maintain the financial balance of the concession agreement, actions taken by the public administration in general may affect the services rendered by Rumo. For example, if (1) new obligations are imposed; (2) additional investments not originally provided for in the concession agreements are required as a result of unilateral measures provided for in the statute or through the creation of new regulations by the ANTT; and (3) the scope of the concession agreements is reduced or certain actions taken by us are rejected or not given effect (such as anticipated concession renewals, extensions of grants in force or extensions under conditions not favorable to us), Rumo&#8217;s economic and financial condition and operating results may be adversely affected.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We cannot predict which actions the Brazilian government will take in the future and how such actions will affect Rumo&#8217;s operating results. If Rumo is required to conduct its business in a manner substantially different from that contemplated in Rumo&#8217;s business plan, Rumo&#8217;s and our financial and operating results may be adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Risks Related to Our American Depositary Shares and Our Common Shares</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our ADSs may not be as liquid as our common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Some companies that have issued ADSs on U.S. stock exchanges have experienced lower levels of liquidity in their ADSs than is the case for their equity securities listed on their domestic exchange. There is a possibility that our ADSs, listed on the NYSE, will be less liquid than our common shares listed on the&#160;B3.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There is no guarantee that an active public market in our ADSs will develop or be sustained. If an active market for our ADSs does not develop, the market price and liquidity our ADSs may be adversely affected.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our maintenance of two exchange listings may adversely affect liquidity in the market for our common shares and ADSs and result in pricing differentials between the two exchanges.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our common shares are listed on the B3 and our ADSs are be listed on the NYSE. It is not possible to predict how trading will be conducted on such markets. The listing of our common shares and our ADSs on two distinct exchanges may adversely affect the liquidity of such shares in one or both markets and may adversely affect the development of an active trading market for our common shares on the B3 and for our ADSs on the NYSE. In addition, differences in the trading schedules, as well as the volatility in the exchange rate of the two trading currencies, may result in different trading prices for our common shares and our ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The market price of our common shares and ADSs may be volatile.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The market price of our common shares and ADSs may be volatile. Broad general economic, political, market and industry factors may adversely affect the market price of our common shares and ADSs, regardless of our actual operating performance. Factors that could cause fluctuation in the price of our commons shares and ADSs include:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">actual or anticipated variations in quarterly operating results and the results of competitors;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in financial projections by us, if any, or by any securities analysts that might cover our common shares or ADSs;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">conditions or trends in the industry, including regulatory changes or changes in the securities marketplace;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">announcements by us or our competitors of significant acquisitions, strategic partnerships or divestitures;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">announcements of investigations or regulatory scrutiny of our operations or lawsuits filed against us;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">additions or departures of key personnel;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">volatility in global and Brazilian capital markets;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">variations in exchange rates and in particular the exchange rate between the Brazilian real and the U.S. dollar;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">other factors affecting the price of securities listed on the B3 and NYSE; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the ongoing war between Russia and Ukraine, which may have repercussions on the world&#8217;s geopolitical and economic scenarios;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the outcome of the 2022 presidential elections in Brazil; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">issuances or sales of our common shares or ADSs, including sales of shares by our directors and officers or our key investors.</span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Shareholders could be diluted in the future, which could also adversely affect the market price of our common shares and ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">It is possible that we may decide to offer additional common shares or ADSs or securities convertible therein in the future either to raise capital or for other purposes. If our shareholders do not take up such offer or are not eligible to participate in such offering, their proportionate ownership and voting interests would be reduced. An additional offering could have a material adverse effect on the market price of our common shares and ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, according to art. 172 of Law No. 6,404, of December 15, 1976, as amended, or the &#8220;Brazilian Corporation Law,&#8221; we may not be required to grant preemptive rights to our shareholders in the event of a capital increase through a public offering of shares or securities convertible into shares, which may result in a dilution of our current shareholders&#8217; stake in our company.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Exchange controls and restrictions on remittances abroad may adversely affect holders of our ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian laws provide that whenever a serious imbalance in Brazil&#8217;s balance of payments exists or is anticipated, the Brazilian federal government may impose temporary restrictions on the repatriation by foreign investors of the proceeds of their investment in Brazil and on the conversion of Brazilian currency into foreign currency. For example, for six months in 1989 and early 1990, the Brazilian federal government restricted all fund transfers that were owed to foreign equity investors and held by the Brazilian Central Bank, in order to preserve Brazil&#8217;s foreign currency reserves. These amounts were subsequently released in accordance with Brazilian federal government directives. Although the Brazilian federal government has never exercised such a prerogative since, we cannot guarantee that the Brazilian federal government will not take similar actions in the future.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">You may be adversely affected if the Brazilian federal government imposes restrictions on the remittance to foreign investors of the proceeds of their investments in Brazil and, as it has done in the past, on the conversion of the real into foreign currencies. These restrictions could hinder or prevent the conversion of dividends, distributions or the proceeds from any sale of shares, as the case may be, into U.S. dollars and the remittance of U.S. dollars abroad. We cannot assure that the government will not take this measure or similar measures in the future. Holders of our ADSs could be adversely affected by delays in, or a refusal to grant, any required governmental approval for conversion of real payments and remittances abroad in respect of the shares, including the shares underlying our ADSs. In such a case, the depositary will distribute <span style="font-style: italic;">reais</span><span style="font-style: italic;"> </span>or hold the <span style="font-style: italic;">reais</span><span style="font-style: italic;"> </span>it cannot convert for the account of our ADS holders who have not been paid.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Holders of our ADSs may face difficulties in serving process on or enforcing judgments against us and other persons.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We are organized under, and are subject to, the laws of Brazil, and substantially all our directors and executive officers and our independent registered public accounting firm reside or are based in Brazil. Substantially all of our assets and those of these other persons are located in Brazil. As a result, it may not be possible for holders of the ADSs to effect service of process upon us or these other persons within the United States or other jurisdictions outside Brazil or to enforce against us or these other persons judgments obtained in the United States or other jurisdictions outside Brazil. Because judgments of U.S. courts for civil liabilities based upon the U.S. federal securities laws may only be enforced in Brazil if certain conditions are met, our ADS holders may face greater difficulties in protecting their interests due to actions by us or our directors or executive officers than would shareholders of a U.S. corporation.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The relative volatility and illiquidity of the Brazilian securities markets may adversely affect holders of our common shares and ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments in securities, such as our common shares or ADSs, of issuers from emerging market countries, including Brazil, involve a higher degree of risk than investments in securities of issuers from more developed countries. The Brazilian securities market is substantially smaller, less liquid, more concentrated and more volatile than major securities markets in the United States and other jurisdictions, and may be regulated differently from the ways familiar to U.S. investors. There is also significantly greater concentration in the Brazilian securities market than in major securities markets in the United States.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The uncertainties caused by the outbreak of COVID-19 had an adverse impact on the global economy and global capital markets, including in Brazil, during 2020. As a result of this volatility, the B3&#8217;s circuit breaker mechanism was triggered eight times during March 2020. The prices of most securities traded on the NYSE and the B3, including the price of our common shares, were adversely affected by the COVID-19 pandemic. Impacts similar to those described above may reoccur, which may result in volatility in the price of our securities traded on the NYSE and on the B3. We cannot assure you that the price of our securities will not fall below the lowest levels at which our securities traded during the ongoing pandemic.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">These features may substantially limit the ability to sell our common shares, including in the form of ADSs, at a price and time at which holders wish to do so. A liquid and active market may never develop for the ADSs, and as a result, the ability of holders of our ADSs to sell at the desired price or time may be significantly hindered.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Holders of our ADSs may face difficulties in protecting their interests because we are subject to different corporate rules and regulations than a U.S. company and holders of our ADSs may have fewer and less well-defined rights.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Holders of our ADSs are not our direct shareholders and may be unable to enforce the rights of shareholders under our by-laws and Brazilian law. Holders of our common shares are generally required under our current by-laws to resolve any disputes with us through arbitration. Our corporate affairs are governed by our by-laws and Brazilian law, which differ from the legal principles that would apply if we were incorporated in a jurisdiction in the United States, or elsewhere outside Brazil. Although insider trading and price manipulation are crimes under Brazilian law, the Brazilian securities markets are not as highly regulated and supervised as the U.S. securities markets or the markets in some other jurisdictions. In addition, rules and policies against self-dealing or for preserving shareholder interests may also be less well-defined and enforced in Brazil than in the United States and certain other countries, which may put holders of our ADSs at a potential disadvantage.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Holders of our ADSs do not have the same voting rights as our shareholders.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Holders of our ADSs do not have the same voting rights as holders of our common shares. Holders of our ADSs are entitled to the contractual rights set forth for their benefit under the deposit agreement. ADS holders exercise voting rights by providing instructions to the Depositary, as opposed to attending shareholders&#8217; meetings or voting by other means available to shareholders. In practice, the ability of a holder of ADSs to instruct the Depositary as to voting will depend on the timing and procedures for providing instructions to the Depositary, either directly or through the holder&#8217;s custodian and clearing system.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Due to delays in notification to and by the Depositary, holders of our ADSs may not be able to give voting instructions to the Depositary or to withdraw our common shares underlying their ADSs to vote such shares in person, virtually or by proxy.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Despite our efforts, the Depositary may not receive voting materials for our common shares represented by ADSs in time to ensure that holders of such ADSs can either instruct the Depositary to vote our common shares underlying their ADSs or withdraw such shares to vote them in person, virtually or by proxy.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, the Depositary&#8217;s liability to holders of ADSs for failing to execute voting instructions, or for the manner in which voting instructions are executed, will be limited by the deposit agreement for the ADSs. As a result, holders of our ADSs may not be able to exercise their rights to give voting instructions, or to vote in person, virtually or by proxy, and may not have any recourse against the Depositary or us if our common shares underlying their ADSs are not voted as they have requested or if our common shares underlying their ADSs cannot be voted.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">An exchange of ADSs for common shares risks the loss of certain foreign currency remittance advantages.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Holders of our ADSs benefit from the certificate of foreign capital registration, which permits the Depositary to convert dividends and other distributions with respect to common shares into foreign currency, and to remit the proceeds abroad. Holders of our ADSs who exchange their ADSs for common shares will then be entitled to rely on the Depositary&#8217;s certificate of foreign capital registration for five business days from the date of exchange. Thereafter, they will not be able to remit non-Brazilian currency abroad unless they obtain their own certificate of foreign capital registration, or unless they qualify under Resolution No. 4,373/2014 of the CMN, which entitles certain investors to buy and sell shares on Brazilian stock exchanges without obtaining separate certificates of registration. There can be no assurance that the certificate of registration of the Depositary, or any certificate of foreign capital registration obtained by holders of our ADSs, will not be affected by future legislative or regulatory changes, or that additional Brazilian law restrictions applicable to their investment in our ADSs may not be imposed in the future.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Holders of our ADSs may not be able to exercise the preemptive rights relating to the common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Holders of our ADSs may not be able to exercise the preemptive rights relating to the common shares underlying their ADSs unless a registration statement under the Securities Act is effective with respect to the rights or an exemption from the registration requirements of the Securities Act is available. We are not obligated to file a registration statement with respect to the shares or other securities relating to these preemptive rights, and we cannot assure holders of the ADSs that we will file any such registration statement. Unless we file a registration statement or an exemption from registration applies, holders of our ADSs may receive only the net proceeds from the sale of their preemptive rights by the Depositary or, if the preemptive rights cannot be sold, the rights will be allowed to lapse.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">The holders of </span><span style="font-style: italic; font-weight: bold;">our</span><span style="font-style: italic; font-weight: bold;"> common shares (including the common shares underlying the ADSs) may not receive dividends or interest on own capital.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">According to our current by-laws, our shareholders are entitled to receive a mandatory minimum annual dividend equal to 25% of our annual net profit, calculated and adjusted under the terms of the Brazilian Corporation Law. Our current by-laws allow for the payment of intermediary dividends, to the retained earnings account or the existing earnings reserves in the last yearly or six-month balance, by means of the annual dividend. We may also pay interest on own capital, as described by Brazilian law. The intermediary dividends and the interest on own capital declared in each fiscal period may be imputed to the mandatory dividend that results from the fiscal period in which they are distributed. At the general shareholders&#8217; meeting, shareholders may decide on the capitalization, on the offset of our losses or on the net profit retention, as provided for in the Brazilian Corporation Law, with the aforementioned net profit not being made available for the payment of dividends or interest on own capital.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, Brazilian Corporation Law allows publicly-held companies, like us, to suspend the required minimum distribution of dividends. The payment of dividends may be suspended if our management reports at an annual shareholders&#8217; meeting that such distribution would be inadvisable in view of our financial condition and has provided the shareholders at the annual general shareholders&#8217; meeting with an opinion to that effect, which has been reviewed by our fiscal council, if installed. In addition, our management must submit a report to the CVM within five days following said meeting clarifying the reasoning for any such non-payment. If the abovementioned occurs, holders of the common shares (including the common shares underlying the ADSs) may not receive dividends or interest on own capital.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Judgments of Brazilian courts with respect to our shares will be payable only in </span><span style="font-style: italic; font-weight: bold;">reais</span><span style="font-style: italic; font-weight: bold;">.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If proceedings are brought in the courts of Brazil seeking to enforce our obligations in respect of the common shares, we will not be required to discharge our obligations in a currency other than <span style="font-style: italic;">reais</span>. Under Brazilian exchange control limitations, an obligation in Brazil to pay amounts denominated in a currency other than <span style="font-style: italic;">reais</span> may only be satisfied in Brazilian currency at the exchange rate, as determined by the Brazilian Central Bank, in effect on the date the judgment is obtained, and such amounts are then adjusted to reflect exchange rate variations through the effective payment date. The then-prevailing exchange rate may not afford non-Brazilian investors with full compensation for any claim arising out of or related to our obligations under the ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">As a foreign private issuer, we have different disclosure and other requirements than U.S. domestic registrants.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a foreign private issuer under the Exchange Act, we may be subject to different disclosure and other requirements than U.S. domestic registrants. For example, as a foreign private issuer, in the United States, we are not subject to the same disclosure requirements as a U.S. domestic registrant under the Exchange Act, including the requirements to prepare and issue quarterly reports on Form 10-Q or to file current reports on Form 8-K upon the occurrence of specified significant events, the proxy rules applicable to U.S. domestic registrants under Section 14 of the Exchange Act or the insider reporting and short-swing profit rules applicable to U.S. domestic registrants under Section 16 of the Exchange Act. In addition, we rely on exemptions from certain U.S. rules, which permit us to follow Brazilian legal requirements rather than certain of the requirements that are applicable to U.S. domestic registrants.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Furthermore, foreign private issuers are required to file their annual report on Form 20-F within 120 days following the end of each fiscal year, while U.S. domestic issuers that are accelerated filers are required to file their annual report on Form 10-K within 75 days following the end of each fiscal year. As a result of the above, even though, we are required to make submissions on Form 6-K disclosing the information that we have made or are required to make public pursuant to Brazilian law, or are required to distribute to shareholders generally, and that is material to us, you may not receive information of the same type or amount that is required to be disclosed to shareholders of a U.S. company.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">We are a foreign private issuer and, as a result, in accordance with the listing requirements of the NYSE, we rely on certain home country governance practices from Brazil, rather than the corporate governance requirements of the NYSE.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We report under the Exchange Act as a non-U.S. company with foreign private issuer status. The NYSE rules provide that foreign private issuers are permitted to follow home country practice in lieu of certain NYSE corporate governance standards. The standards that are applicable to us are considerably different than the standards applied to U.S. domestic issuers. For instance, we are not required to:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">have a majority of independent members on our board of directors (other than as may result from the requirements for audit committee member independence under the Exchange Act);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">have a minimum of three independent members on our audit committee;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">have a compensation committee or a nominating and corporate governance committee; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">have regularly scheduled executive sessions of our board that consist of independent directors only.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As a foreign private issuer, we may follow our home country practice in Brazil (including the rules and regulations of the B3 and the CVM) in lieu of the above requirements. Therefore, the approach to governance adopted by our board of directors may be different from that of a board of directors consisting of a majority of independent directors, and, as a result, our management oversight may be more limited than if we were subject to all of the NYSE corporate governance standards. Accordingly, you may not have the same protections afforded to shareholders of companies that are not foreign private issuers. See &#8220;Item 6. Directors, Senior Management and Employees&#8212;C. Board Practices&#8212;Summary of Significant Differences of Corporate Governance Practices.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Holders of Cosan ADSs may not be entitled to a jury trial with respect to claims arising under the deposit agreement, which could result less favorable results to the plaintiff(s) in any such action.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The deposit agreement governing the Cosan ADSs representing the Cosan common shares provides that holders and beneficial owners of Cosan ADSs irrevocably waive the right to a trial by jury in any legal proceeding arising out of or relating to the deposit agreement, the Cosan common shares or the Cosan ADSs or the transactions contemplated thereby, including claims under U.S. federal securities laws, against us or the Depositary to the fullest extent permitted by applicable law. The waiver continues to apply to claims that arise during the period when a holder holds the Cosan ADSs, whether the holder of Cosan ADSs acquired the Cosan ADSs pursuant to the Merger or in secondary transactions. If this jury trial waiver provision is prohibited by applicable law, an action could nevertheless proceed under the terms of the deposit agreement with a jury trial. To our knowledge, the enforceability of a contractual pre-dispute jury trial waiver in connection with claims arising under the U.S. federal securities laws has not been finally adjudicated by the United States Supreme Court. However, we believe that a jury trial waiver provision is generally enforceable under the laws of the State of New York, which govern the deposit agreement, by a court of the State of New York or a federal court in New York, which have jurisdiction over matters arising under the deposit agreement, applying such law. In determining whether to enforce a jury trial waiver provision, New York courts and federal courts will consider whether the visibility of the jury trial waiver provision within the agreement is sufficiently prominent such that a party has knowingly waived any right to trial by jury. We believe that this is the case with respect to the deposit agreement, the Cosan common shares and the Cosan ADSs and the transactions contemplated thereby. In addition, New York courts will not enforce a jury trial waiver provision in order to bar a viable setoff or counterclaim sounding in fraud or one which is based upon a creditor&#8217;s negligence in failing to liquidate collateral upon a guarantor&#8217;s demand, or in the case of an intentional tort claim (as opposed to a contract dispute), none of which we believe are applicable in the case of the deposit agreement, the Cosan common shares or the Cosan ADSs or the transactions contemplated thereby. No condition, stipulation or provision of the deposit agreement or Cosan ADSs serves as a waiver by any holder or beneficial owner of Cosan ADSs or by us or the depositary of compliance with any provision of the U.S. federal securities laws. If you or any other holder or beneficial owner of Cosan ADSs brings a claim against us or the Depositary in connection with matters arising under the deposit agreement, the Cosan common shares or the Cosan ADSs or the transactions contemplated thereby, you or such other holder or beneficial owner may not be entitled to a jury trial with respect to such claims, which may result in increased costs to bring a claim, and have the effect of limiting and discouraging lawsuits against us and/or the Depositary. If a lawsuit is brought against us and/or the Depositary under the deposit agreement, it may be heard only by a judge or justice of the applicable trial court, which would be conducted according to different civil procedures and may augur different results than a trial by jury would have had, including results that could be less favorable to the plaintiff(s) in any such action.</span></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Risks Related to the Countries in Which We Operate</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Our international operations expose us to political and economic risks in other countries.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our international activities expose us to risks not faced by companies that operate solely in Brazil. Risks associated with our international operations include: (i)&#160;foreign exchange controls; (ii)&#160;changes in the political or economic conditions in a specific country or region, especially in emerging markets such as Argentina; (iii)&#160;potentially negative consequences resulting from changes to regulatory requirements; (iv)&#160;difficulties and costs associated with our compliance with different laws, treaties and complex international regulations; (v)&#160;tax rates that may exceed those applicable in Brazil or Argentina and other countries or gains that may be subject to withholding regimes and an increase in repatriation taxes; (vi)&#160;the imposition of trade barriers; and (vii)&#160;limitations on the repatriation of undistributed profits. The realization of any of these risks may materially adversely affect our business, results of operations or financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Moreover, we have sales operations in multiple countries, including in Russia and Ukraine. Furthermore, the war between Russia and Ukraine has disrupted supply chains and international trade generally, affecting in particular the supply of fertilizer globally and in Brazil. See &#8220;&#8212;Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;The ongoing war between Russia and Ukraine may have a material adverse effect on the global and Brazilian economies as well as on us.&#8221; While as of the date of this annual report there have not been any material impacts from the ongoing war between Russia and Ukraine on our business, we are continuously monitoring the developments to assess any potential future impacts that may arise as a result of the ongoing war. As a company that operates globally, the adverse effects&#8212;global or localized&#8212;of the ongoing war between Russia and Ukraine, and/or economic sanctions and import and/or export controls to be imposed by the United States, the UK, the EU or others, and their adverse effects on the wider global economy and market conditions could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Historically, the Brazilian government has influenced and continues to influence </span><span style="font-style: italic; font-weight: bold;">the economy of Brazil</span><span style="font-style: italic; font-weight: bold;">, which may negatively affect our business and financial performance.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Political and economic conditions directly affect our business and can result in a material adverse effect on our operations and financial condition. Macroeconomic policies imposed by the government can have significant impacts on Brazilian companies, including ourselves, Rumo, Moove and Compass, as well as market conditions and securities prices in Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The Brazilian economy has been characterized by frequent and occasionally extensive intervention by the Brazilian government and unstable economic cycles. The Brazilian government has often changed monetary, taxation, credit, tariff and other policies to influence the course of Brazil&#8217;s economy. The Brazilian government&#8217;s actions to control inflation have at times involved setting wage and price controls, blocking access to bank accounts, imposing exchange controls and limiting imports into Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Brazil has experienced significant political turmoil in recent years, including the impeachment of Dilma Rousseff, the former president (who was removed from office in August 2016), investigations of her successor, Michel Temer (who left office in January 2019), as part of the ongoing &#8220;Lava Jato&#8221; investigations, investigations of the current president, Jair Bolsonaro, by the STF for alleged unlawful conduct, and several requests for impeachment filed against the current president in relation to his management of the response to the COVID-19 pandemic. Furthermore, 2022 is a presidential election year in Brazil. Historically, in election years, especially presidential elections, foreign investments in the country decrease and political uncertainty generates greater instability and volatility in the domestic market, which may adversely affect our business and results of operations.</span><br/></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our business, financial performance and prospects, as well as the market prices of our shares, may be adversely affected by, among others, the following factors:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">general, political, economic and social developments in Brazil, including any adverse impact of the ongoing war between Russia and Ukraine;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">inflation;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">exchange rate movements;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">exchange rate control policies;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">interest rate and exchange rate fluctuations;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">the further downgrade of Brazil&#8217;s credit rating;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">liquidity available in the domestic capital, credit and financial markets;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">expansion or contraction of the Brazilian economy, as measured by rates of growth in gross domestic product, or &#8220;GDP;&#8221;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">oil and gas sector regulations, including price policies;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">ports, customs and tax authorities&#8217; strikes;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">changes in transportation market regulations;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">energy and water shortages and rationing;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">price increases of oil and other inputs;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">price instability;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">social and political instability, including allegations of corruptions against political parties, civil servants and others;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the political climate leading up to and eventual outcome of the 2022 presidential elections in Brazil;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">disease outbreaks, such as the COVID-19 pandemic;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">fiscal policies; </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">the ongoing COVID-19 pandemic, including novel and variant strains and vaccine development and roll-out, the Brazilian government&#8217;s response to the COVID-19 pandemic, and the effects of the COVID-19 pandemic and the government&#8217;s response to it on the economic, social and political situation in Brazil; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">other economic, political, diplomatic and social developments in or affecting Brazil.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Instability resulting from any changes made by the Brazilian government to policies or regulations that may affect these or other factors in the future may contribute to economic uncertainty in Brazil and intensify the volatility of Brazilian securities markets and securities issued abroad by Brazilian companies. The President of Brazil has the power to define the policies and actions of the Brazilian government in relation to the Brazilian economy and thereby affect the operations and financial performance of Brazilian companies. The Brazilian government may be subject to internal pressure to change the current macroeconomic policies in order to achieve higher rates of economic growth. We cannot predict what policies will be adopted by the Brazilian government. Moreover, in the past, the Brazilian economy has been affected by the country&#8217;s political events, which have also affected the confidence of investors and the public in general, thereby adversely affecting the performance of the Brazilian economy. Furthermore, any indecisiveness by the Brazilian government in implementing changes to certain policies or regulations may contribute to economic uncertainty in Brazil and heightened volatility for the Brazilian securities markets and securities issued abroad by Brazilian companies.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">These factors, as well as uncertainty as to whether the Brazilian government will apply changes to its policy or regulations that may affect any of the abovementioned factors or other factors in the future, can lead to economic uncertainty and increase the volatility of the capital markets and the securities issued by Brazilian companies. Changes in such policies and regulations may have a negative impact on our operating results and financial position and the price of our common shares and ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The levels of economic activity, reflected in Brazilian GDP, can influence our distributed volumes. The growth rates in natural gas consumption may occur primarily by substituting other resources, notably fuel oil, gasoline and to a lesser extent other products derived from oil, depending on the prices of each kind of fuel.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We, our subsidiaries and our jointly controlled entities generally invoice our sales in <span style="font-style: italic;">reais</span>, but a substantial portion of our, our subsidiaries&#8217; and our jointly controlled entities&#8217; net sales is from export sales that are billed in U.S. dollars. At the same time, the majority of our, our subsidiaries&#8217; and our jointly controlled entities&#8217; costs are denominated in <span style="font-style: italic;">reais</span>. As a result, our operating margins are negatively affected when there is an appreciation of the <span style="font-style: italic;">real</span> relative to the U.S. dollar. Additionally, we have indebtedness with fixed and floating rates, and we are thus exposed to the risk of fluctuations in interest rates. If there is an increase in interest rates, our financial results may be affected.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The deterioration of economic and market conditions in other countries may have a negative impact on the Brazilian economy and on our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The market for securities issued by Brazilian companies is influenced, to differing degrees, by global economies and market conditions, especially those of Latin American countries and emerging markets. Investors&#8217; reactions to developments in other countries may have a negative impact on the value of Brazilian companies&#8217; securities. Crises or economic policies in other countries may reduce investor demand for Brazilian companies&#8217; securities, including ours and those of our subsidiaries, which may adversely affect the market price of their securities, and the capacity of obtaining financing. In the past, negative developments in the economic conditions of emerging markets led to significant withdrawals of resources from Brazil, and a drop in the amount of foreign capital in the country. Changes in the share prices of public companies, lack of available credit, cost&#8209;cutting, a slowdown in the global economy, exchange rate instability, interest rate increases in Brazil or abroad, and inflationary pressure may adversely affect the Brazilian economy and capital markets, which may reduce global liquidity and investor interest in Brazilian capital markets, which, in turn, may negatively affect the price of Brazilian companies&#8217; securities, including ours and those of our subsidiaries.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">The Brazilian political environment has historically influenced and continues to influence the performance of the country&#8217;s economy and the confidence of investors and the general public, resulting in an economic slowdown and increased volatility in securities issued by Brazilian companies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The Brazilian economy has been and continues to be affected by political events in Brazil, which have also had an impact on the confidence of investors and the general public, adversely affecting the performance of the Brazilian economy and increasing the volatility and lack of liquidity in the Brazilian capital market of securities issued by Brazilian companies. Recently, Brazil has undergone high levels of political and economic volatility and instability, including the contraction of its gross domestic product, strong fluctuations of the <span style="font-style: italic;">real</span> against the U.S. dollar, increased unemployment, and lower levels of spending and consumer confidence. These issues may be exacerbated by the Brazilian presidential election to be held in October 2022.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, Brazilian markets have experienced an increase in volatility due to uncertainties resulting from ongoing investigations conducted by the Brazilian Federal Police and the Brazilian Federal Public Prosecutor&#8217;s Office, including <span style="font-style: italic;">Lava Jato</span>, which have negatively impacted the Brazilian economy and political environment, and contributed to a decline in market confidence in Brazil. Members of the federal government and legislative branch, in addition to senior managers of large companies, are being prosecuted for corruption for allegedly accepting bribes for contracts awarded by the government to infrastructure, oil and gas, and construction companies, among others. As of the date of this annual report, investigations have been carried out at various hierarchical levels of public administration. Historically, these investigations have had an adverse impact on the image and reputation of the companies involved and on the general perception of the Brazilian market. In particular, the Brazilian oil and gas industry has been adversely affected by these investigations in the past. Any consequences arising from these investigations, including the removal of authorities or elected officeholders, among others, may have a material adverse effect on the political and economic environment in Brazil, as well as on Brazilian companies, including us. We cannot predict whether ongoing investigations and their consequent developments will lead to further political and economic instability, or whether new allegations against government officials and executives and/or private companies will emerge in the future. We also cannot predict the results of these investigations or their impact on the Brazilian economy or the Brazilian stock market.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, the President of Brazil has the power to enact policies and issue orders relating to the Brazilian economy, including in the sector in which we operate, through specific regulations or through their control over Petrobras, our sole supplier of gasoline, diesel and certain other oil products, which could affect our operations and financial performance in Brazil. Political and economic uncertainty and any new policies or changes in current policies could have a material adverse effect on our business, operating results, financial condition and prospects. Any difficulty by the Brazilian government in obtaining a majority in the Brazilian Congress could result in congressional stalemate, political unrest and massive demonstrations and/or strikes that could adversely affect our operations. Uncertainties in relation to the implementation, by the current government, of changes related to monetary, fiscal and social security policies, as well as to the pertinent legislation, can contribute to economic instability. These uncertainties and new measures may increase the volatility of the Brazilian securities market.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, economy minister Mr.&#160;Paulo Guedes proposed, during the presidential campaign, to revoke the income tax exemption over the distribution of dividends, which, if promulgated, would increase tax expenses associated with any dividends or distributions, which could impact our ability to pay dividends and receive future dividends from our subsidiaries. Any purported tax reform, if proposed and implemented, may also significantly impact our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, Brazil&#8217;s federal budget has been in deficit since 2014. Similarly, the governments of Brazil&#8217;s constituent states are also facing fiscal concerns due to their high debt burdens, declining revenues and inflexible expenditures. While the Brazilian Congress has approved a ceiling on government spending that will limit primary public expenditure growth to the prior year&#8217;s inflation for a period of at least 10 years, local and foreign investors believe that fiscal reforms, and in particular a reform of Brazil&#8217;s pension system, which was approved in the last quarter of 2019, will be critical for Brazil to comply with the spending limit. Diminished confidence in the Brazilian government&#8217;s budgetary condition and fiscal stance could result in downgrades of Brazil&#8217;s sovereign debt by credit rating agencies, negatively impact Brazil&#8217;s economy, and lead to further depreciation of the <span style="font-style: italic;">real</span> and an increase in inflation and interest rates, thus adversely affecting our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Moreover, the Brazilian government may be subject to internal pressure to change its current macroeconomic policies in order to achieve higher rates of economic growth. We cannot predict what policies will be adopted by the Brazilian government. As has happened in the past, the Brazilian economy has been affected by the country&#8217;s political events, which have also affected the confidence of investors and the public in general, thereby adversely affecting the performance of the Brazilian economy. Furthermore, any indecisiveness by the Brazilian government in implementing changes to certain policies or regulations may contribute to economic uncertainty in Brazil and heightened volatility for the Brazilian securities markets and securities issued abroad by Brazilian companies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Finally, global economic conditions as well as internal developments may affect the Brazilian economy and demand for our products and services. We have indebtedness linked to certain interest rates and, therefore, are exposed to interest rate risk. Our financial results could be adversely affected if interest rates rise. A global or local economic recession may lead to reduced demand for our products, either as a result of lower levels of consumption or as a result protectionist measures being put in place. In both cases, the result would be a decrease in the price of our products and a decrease in the volumes of products we sell, both within and outside Brazil. Moreover, in 2022, markets and the global economy have been adversely affected by the ongoing war between Russia and Ukraine and the related sanctions imposed on Russia by the United States and its allies. Any such developments would have a material adverse effect on our business, financial condition and results of operations.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Inflation and government measures to curb inflation may adversely affect the Brazilian economy, the Brazilian securities market, our business and operations, and the market prices of our shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Brazil has experienced extremely high rates of inflation in the past and has therefore implemented monetary policies that have resulted in one of the highest interest rates in the world. According to the IGP-M, a general price inflation index, Brazil recorded inflation of 7.3% in 2019, 23.1% in 2020 and 17.8 % in 2021. In addition, according to the National Extended Consumer Price Index (<span style="font-style: italic;">&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo</span>), published by the IBGE, the Brazilian price inflation rates were 4.3% in 2019, 4.6% in 2020 and 10.06% in 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The Brazilian government&#8217;s measures to control inflation have often included maintaining a tight monetary policy with high interest rates, thereby restricting availability of credit and reducing economic growth. Inflation, actions to combat inflation and public speculation about possible additional actions have also contributed materially to economic uncertainty in Brazil and to heightened volatility in the Brazilian securities markets. The Brazilian government&#8217;s measures to fight inflation, principally through the Brazilian Central Bank, have had and may in the future have significant effects on the Brazilian economy and our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Unfavorable macroeconomic conditions in Brazil are expected to continue throughout 2022 as uncertainty remains as to the duration and severity of the COVID-19 pandemic, the emergence of new variants of the virus, and the extent to which existing vaccines and acquired immunity may be effective and to economic effects of the pandemic which, combined with the continuing limitations to normality of business activities, have led to a slow recovery cycle. In 2022, the war between Russia and Ukraine is contributing to further increases in the prices of energy, oil, gas, fertilizer, basic materials and other commodities and to volatility in financial markets globally, as well as a new landscape in relation to international sanctions. It is unclear whether these challenges and uncertainties will be contained or resolved, and what effects they may have on the global political and economic conditions in the long term.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Brazil may experience high levels of inflation in future periods, and has recently experienced a significant increase in inflation. Periods of higher inflation may slow the rate of growth of the Brazilian economy, which could lead to reduced demand for our products in Brazil and decreased net sales. Inflation is also likely to increase some of our costs and expenses, which we may not be able to pass on to our customers and, as a result, may reduce our profit margins and net income. In addition, high inflation generally leads to higher domestic interest rates, and, as a result, the costs of servicing any floating-rate <span style="font-style: italic;">real</span>-denominated debt may increase, resulting in lower net income. Inflation and its effect on domestic interest rates can, in addition, lead to reduced liquidity in the domestic capital and lending markets, which could affect our ability to refinance our indebtedness in those markets. Future Brazilian governmental actions, including interest rate decreases, intervention in the foreign exchange market and actions to adjust or fix the value of the <span style="font-style: italic;">real</span>, may trigger increases in inflation and adversely affect the performance of the Brazilian economy as a whole. Any of the aforementioned developments may adversely affect the Brazilian economy as a whole, as well as our financial condition, operations and profits. Any decline in our net sales or net income and any deterioration in our financial performance would also likely lead to a decline in the market price of our common shares and ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">High interest rates may adversely affect our operations and financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The Brazilian government&#8217;s measures to control inflation have frequently included maintaining a restrictive monetary policy with high interest rates, thereby limiting the availability of credit and reducing economic growth. Official interest rates in Brazil at the end of 2021, 2020 and 2019 were 9.25%, 2.0% and 4.5% per year, respectively, as established by the monetary policy committee of the Brazilian Central Bank (<span style="font-style: italic;">Comit&#234; de Pol&#237;tica Monet&#225;ria</span>). As of the date of this annual report, the official interest rate in Brazil was 12.75%. Any increase of such interest rates may negatively affect our profits and results of operations, thereby increasing the costs of financing our operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">High interest rates may impact our cost of obtaining loans and also the cost of indebtedness, resulting in an increase in our financial expenses. This increase may adversely affect our ability to pay our financial obligations, as it reduces our cash availability. Mismatches between contracted indexes for assets versus liabilities and/or high volatilities in interest rates may result in financial losses for us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2021, our consolidated indebtedness was either fixed or linked to interest rates based on the Interbank Deposit Certificate rate, or &#8220;CDI,&#8221; the Long-Term Interest Rate, or &#8220;TJLP,&#8221; and IPCA. We enter into certain financial instruments to mitigate our exposure to interest rate fluctuations.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Significant volatility in the value of the real in relation to the U.S. dollar could harm our ability to meet our U.S. dollar-denominated liabilities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Due to inflationary pressures (including supply chain disruptions, climate events which had an impact on energy prices, instability in the oil and gas markets as a result of the ongoing Russia-Ukraine armed conflict as well as the adverse effects of the COVID-19 pandemic) and adjustments to economic policy, the Brazilian currency has historically experienced volatility against the U.S. dollar and other foreign currencies. In the past, the Brazilian government has implemented various economic plans and exchange rate policies, including sudden devaluations and periodic mini-devaluations, during which the frequency of adjustments has ranged from daily to monthly, fluctuation band exchange rate systems, exchange controls and dual exchange rate markets.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">There have been significant fluctuations in the exchange rate between the Brazilian currency and the U.S. dollar and other currencies. For example, in 2014, the <span style="font-style: italic;">real</span> went from R$2.3975 in the beginning of the year to R$2.6562 by the end of the period, corresponding to a 10.8% depreciation against the U.S. dollar. However, during 2015, due to the poor economic conditions in Brazil, including as a result of political instability, the <span style="font-style: italic;">real</span> devalued at a rate that was much higher than in previous years. Overall, in 2015, the <span style="font-style: italic;">real</span> depreciated 45%, reaching R$3.905 per U.S.$1.00 on December 31, 2015. Conversely, in 2016, the <span style="font-style: italic;">real</span> went from R$4.039 per U.S.$1.00 at the beginning of the year to R$3.259 per U.S.$1.00 on December 31, 2016, corresponding to a 19.3% appreciation against the U.S. dollar. In 2017, the <span style="font-style: italic;">real</span> went from R$3.273 per U.S.$1.00 at the beginning of the year to R$3.308 per U.S.$1.00 on December 31, 2017, corresponding to a 1.1% depreciation against the U.S. dollar. In 2018, the <span style="font-style: italic;">real</span> went from R$3.270 per U.S.$1.00 at the beginning of the year to R$3.875 per U.S.$1.00 on December 31, 2018, corresponding to a 18.5% depreciation against the U.S. dollar. In 2019, the <span style="font-style: italic;">real</span> went from R$3.860 per U.S.$1.00 at the beginning of the year to R$4.031 per U.S.$1.00 on December 31, 2019, corresponding to a 4.4% depreciation against the U.S. dollar. In 2021, the <span style="font-style: italic;">real</span> went from R$5.163 per U.S.$1.00 at the beginning of the year to R$5.57 per U.S.$1.00 on December 31, 2021, corresponding to a 7.4% depreciation against the U.S. dollar. There can be no assurance that the <span style="font-style: italic;">real</span> will not depreciate or appreciate further against the U.S. dollar.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As of May 4, 2022, the exchange rate for <span style="font-style: italic;">reais</span> into U.S. dollars was R$5.01 per U.S.$1.00, a 9.0% appreciation of the <span style="font-style: italic;">real </span>against the U.S. dollar since December 31, 2021. There can be no assurance that the <span style="font-style: italic;">real</span> will not depreciate or appreciate further against the U.S. dollar.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Because our subsidiaries and jointly controlled entities generally invoice their sales in<span style="font-style: italic;"> </span><span style="font-style: italic;">reais</span>, devaluation of the <span style="font-style: italic;">real</span> against foreign currencies may generate losses from our foreign currency-denominated liabilities as well as an increase in our funding costs with a negative impact on our ability to finance our operations through access to the international capital markets and on the market value of the shares. A strengthening of the <span style="font-style: italic;">real </span>in relation to the U.S. dollar generally has the opposite effect. Further devaluations of the Brazilian currency may occur and impact our business in the future. These foreign exchange and monetary gains or losses can be substantial, which can significantly impact our earnings from one period to the next. In addition, depreciation of the <span style="font-style: italic;">real</span> relative to the U.S. dollar could (1) result in additional inflationary pressures in Brazil by generally increasing the price of imported products and services and requiring recessionary government policies to curb demand, and (2) weaken investor confidence in Brazil and reduce the market price of the shares. On the other hand, further appreciation of the <span style="font-style: italic;">real </span>against the U.S. dollar may lead to a deterioration of the country&#8217;s current account and the balance of payments and may dampen export-driven growth.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, Brazilian law provides that, whenever there is a serious imbalance in Brazil&#8217;s balance of payments or there are compelling reasons to foresee a serious imbalance, temporary restrictions may be imposed on remittances of foreign capital abroad. Any such restrictions on remittances of foreign capital abroad may limit our ability to receive dividends from our subsidiaries. We cannot assure you that such measures will not be taken by the Brazilian government in the future. Exchange rate fluctuation will affect the U.S. dollar value of any distributions we receive from our subsidiaries as well as the U.S. dollar value of any dividends or other distributions we make to our shareholders, which will be made in <span style="font-style: italic;">reais</span>.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, we are active in the capital markets, obtaining funds denominated in national and foreign currencies to finance our investments and working capital. Our foreign currency exposure related to indebtedness as of December 31, 2021 was R$22,354.3&#160; million compared to R$25,227.1 million at December 31, 2020. We manage a portion of our exchange rate risk through foreign currency derivative instruments. Our foreign currency debt obligations are not completely hedged, as a portion of our perpetual notes are unhedged. As a result, the possible depreciation of the <span style="font-style: italic;">real</span> against the U.S. dollar could increase the cost of our obligations in foreign currency, and therefore significantly affect our income statement in the short term. The depreciation of the real may limit our access to international capital markets and may favor state intervention in the economy, including the imposition of potentially recessionary policies.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Infrastructure and workforce deficiency in Brazil may impact economic growth and have a material adverse effect on us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our performance depends on the overall health and growth of the Brazilian economy. Brazilian GDP growth has fluctuated over the past few years, with a contraction of 3.6% in 2016, an increase of 1.3% in 2017, an increase of 1.3% in 2018, an increase of 1.1% in 2019 and contractions of 4.1% in 2020 and 3.9% in 2021. Continued growth is limited by inadequate infrastructure, including potential energy shortages and deficient transportation, logistics and telecommunication sectors, the lack of a qualified labor force and the lack of private and public investments in these areas, which limit productivity, as well as efficiency. Any of these factors could lead to labor market volatility and generally impact income, purchasing power and consumption levels, which could limit growth or result in contraction and ultimately have a material adverse effect on our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Furthermore, deficiencies in the road, rail or waterway network of the areas in which we operate, such as unpaved or maintenance-free roads and lack of railroads, especially in regions farthest from the ports, result in high logistics costs and, consequently, reduce the profitability of our sugarcane operations. Likewise, failure or malpractice in transportation handling, whether on trains, trucks or vessels, may lead to loss of production, waste of quantities or damage to sugarcane. Constant climate change, such as excessive rainfall, has led to a worsening of the conditions of the roads, which may lead to an increase in over-production losses. The aforementioned infrastructure deficiencies may make it more difficult for us to conduct our business in the areas in which we operate and thereby adversely affect us.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Developments and the perception of risk in other countries may adversely affect the Brazilian economy and market price of Brazilian issuers</span><span style="font-style: italic; font-weight: bold;">&#8217;</span><span style="font-style: italic; font-weight: bold;"> securities.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The market value of securities of Brazilian issuers is affected by economic and market conditions in other countries, including the United States, European countries, and in other Latin American and emerging market countries. Although economic conditions in Europe and the United States may differ significantly from economic conditions in Brazil, investors&#8217; reactions to developments in these other countries may have an adverse effect on the market value of securities of Brazilian issuers. Additionally, crises in other emerging market countries may diminish investor interest in securities of Brazilian issuers, including our securities, as well as adversely affect the availability of credit to Brazilian companies in the international markets, with a significant outflow of capital from Brazil and a decrease in the amount of foreign currency invested in Brazil. In addition, negative events in the Brazilian financial and capital markets, any news or evidence of corruption in publicly traded companies and other issuers of securities, and the lack of rigorous application of investor protection rules or lack of transparency of information or eventual crisis situations in the Brazilian economy and in other economies may influence the Brazilian capital markets and negatively impact the securities issued in Brazil. This could adversely affect the market price of our securities, restrict our access to capital markets and compromise our ability to finance our operations in the future on favorable terms, or at all.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In recent years, there was an increase in volatility in all Brazilian markets due to, among other factors, uncertainties about how monetary policy adjustments in the United States would affect the international financial markets, the increasing risk aversion to emerging market countries and the uncertainties regarding Brazilian macroeconomic and political conditions. These uncertainties adversely affected us and the market value of our securities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="background-color: #ffffff;">In 2022, markets and the global economy have been adversely affected by the ongoing </span><span style="background-color: #ffffff;">war between Russia and Ukraine</span><span style="background-color: #ffffff;"> and the related sanctions imposed on Russia by the United States and its allies.</span><span style="background-color: #ffffff;"> </span>An escalation of the war between Ukraine and Russia or an escalation of the tensions between the United States and Russia could have a material adverse effect on the global and Brazilian economies, and ultimately on our business. There have also been concerns over conflicts, unrest and terrorist threats in the Middle East, Europe and Africa, which have resulted in volatility in oil and other markets. The United States and China have recently been involved in disputes regarding Taiwan, rights to navigation in the South China Sea, alleged human rights abuses in China, as well as in a controversy over trade barriers in China that threatened a trade war between the countries. Sustained tension between the United States and China over these and other matters could significantly undermine the stability of the global economy. It is unclear whether these challenges and uncertainties will be contained or resolved, and what effects they may have on the global political and economic conditions in the long term.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, we continue to be exposed to disruptions and volatility in the global financial markets because of their effects on the financial and economic environment, particularly in Brazil, such as a slowdown in the economy, an increase in the unemployment rate, a decrease in the purchasing power of consumers and the lack of credit availability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Disruption or volatility in the global financial markets could further increase negative effects on the financial and economic environment in Brazil, which could have a material adverse effect on our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Events in other countries may have a negative impact on the Brazilian economy.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Global economic conditions may affect the Brazilian economy as well as the demand for our products. For example, a global recession may lead to a reduction in global demand for our products, either through lower consumption or via measures to protect local production. In both cases, the consequence would be to reduce prices for our products in the foreign market, affecting our financial performance. In addition, as a portion of our net operating revenues is generated from export activities and normally billed in U.S. dollars and, at the same time, most of our costs are denominated in <span style="font-style: italic;">reais</span>, our operating margins may be adversely affected when the <span style="font-style: italic;">real</span> appreciates against the U.S. dollar (such an appreciation occurred in the first months of 2022). In addition, we have indebtedness at pre-and post-fixed rates and, therefore, we are exposed to the risk of interest rate variations. If there is an increase in interest rates, our financial results may be affected.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In November 2020, Joseph R. Biden won the presidential election in the United States and took office as the president of the United States on January 20, 2021. We cannot foresee the effects of the election of Joe Biden and his policies. The President of the United States has considerable power in the determination of the governmental policies and actions that may adversely impact the global economy and political stability. We cannot assure you that the new government will maintain policies designed to promote macroeconomic stability, tax discipline and domestic and foreign investments, which may adversely impact the financial and securities markets in Brazil, the Brazilian companies, including our company, and the Brazilian securities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In June 2016, the United Kingdom had a referendum in which the majority voted to leave the European Union (so-called &#8220;Brexit&#8221;). The announcement of Brexit caused significant volatility in global stock markets and currency exchange rate fluctuations. The United Kingdom formally withdrew from the European Union on January 31, 2020. <span style="background-color: #ffffff;">A transition period, lasting until December 31, 2020, was put in place, during which the UK (</span><span style="background-color: #ffffff;">1</span><span style="background-color: #ffffff;">) continued to be subject to EU rules and (</span><span style="background-color: #ffffff;">2</span><span style="background-color: #ffffff;">) remained a member of the single market. The UK-EU Trade and Cooperation Agreement, or &#8220;TCA,&#8221; was signed on December 30, 2020, between the EU, the European Atomic Energy Community and the UK. It has been applied provisionally since January 1, 2021, when the transition period ended. This trade agreement, which provides that there will be no tariffs or quotas on the movement of goods between UK and EU, represents the UK&#8217;s departure from the EU customs union and single market. While the TCA between the UK and EU provided much needed certainty on trade, there continues to be uncertainty surrounding political and economic concerns, as the true effects of the TCA and future trade agreements outside of the EU begin to unfold, which developments we continue to monitor.</span> <span style="background-color: #ffffff;">Continued uncertainty around the terms of the UK&#8217;s relationship with the EU and the lack of a comprehensive trade agreement may negatively impact the economic growth of both regions. Similarly, an adverse effect on the UK and the EU may have an adverse effect on the wider global economy, market conditions and investor confidence.</span> As a result, Brexit could impair our ability to transact business in the United Kingdom and in countries in the European Union. In particular, Brexit may have an adverse impact on the ability of our lubricants business, Moove, to conduct business within the European Union given that Moove has operations in both the United Kingdom and the European Union and that both Moove Lubricants and Stanbridge (subsidiaries of Moove) are headquartered in the United Kingdom. If the United Kingdom were to significantly alter its regulations affecting the lubricants industry, we could face significant new costs. It may also be time-consuming and expensive for us to alter our internal operations in order to comply with new regulations. We have no control over and cannot predict the effect of United Kingdom&#8217;s exit from the European Union nor over whether and to which effect any other member state will decide to exit the European Union in the future. These developments, as well as potential crises and forms of political instability arising therefrom or any other as of yet unforeseen development, may harm our business and the price of our common shares and ADSs.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The COVID-19 pandemic is expected to continue to have a significant effect on demand in 2022 (as was the case in 2021 and 2020), given the emergence of novel strains and variants across the world as well as continuing difficulties in the roll out of vaccination programs worldwide. Business operations across Asia, Europe and the United States are being affected by factory disruptions and closures, quarantined workers and shortages of components, with a direct impact on the availability of goods and services. These disruptions to global supply chains could impact businesses generally and weaken demand from consumers. The effects cannot be foreseen and weak macroeconomic conditions are expected to continue in 2022.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">In 2022, the </span><span style="background-color: #ffffff;">war between Russia and Ukraine</span><span style="background-color: #ffffff;"> is contributing to further increases in the prices of energy, oil and other commodities</span><span style="background-color: #ffffff;"> (including certain inputs on which we rely to conduct our operations)</span><span style="background-color: #ffffff;">, disruptions to global supply chains,</span><span style="background-color: #ffffff;"> and to volatility in financial markets globally, as well as a new landscape in relation to international sanctions.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">The considerable uncertainty</span> generated by the war, its effects on inflation, supply chains, financial markets and economic conditions generally may have a material adverse effect on our business, financial condition and results of operations. See also &#8220;&#8212;The ongoing war between Russia and Ukraine may have a material adverse effect on the global and Brazilian economies as well as on us.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our operations are also subject to a variety of other risks and uncertainties related to our global operations, including adverse political, social or other developments. Political and/or social unrest or uncertainties, potential health issues, natural disasters, disease outbreaks or pandemics, such as COVID-19, wars and conflicts, such as the ongoing war between Russia and Ukraine, politically motivated violence and terrorist threats and/or acts may also occur in countries where we have operations. Any of the foregoing could have a material adverse effect on our business, financial condition and performance.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Additionally, economic conditions in Brazil may also be affected by political developments in the United States. We cannot assure you that any developments in the United States or elsewhere will not materially and adversely affect us in the future.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">A reduction in the volume of foreign investments in Brazil may have a negative impact on us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any reduction in the volume of foreign investments in Brazil may have an impact on the balance of payments, which may force the Brazilian government to have a greater need to raise funds, both in the domestic and in the international markets, at higher interest rates. Likewise, any significant increase in Brazilian inflation rates and the current slowdowns of the European and American economies may have a negative impact on the Brazilian economy and affect interest rate levels, raising expenses on loans already obtained and costs of new funding from resources by Brazilian companies, including us.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Future governmental policy and regulations may adversely affect our operations and profitability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our activities may be materially affected by policies and regulations from Brazilian and foreign federal, state and municipal governments, including, without limitation measures taken by such governments to address the health and economic crises resulting from the COVID-19 pandemic. Governmental policies affecting economic activity such as tariffs, taxes, subsidies and restrictions on the import and export of agricultural goods and commodities, which represent a substantial part of the cargo we transport, may influence the profitability of the industry, as well as the volume and type of imports and exports.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Future Brazilian and foreign governmental policies may adversely affect the supply, demand and prices of our products and services or otherwise restrict our capacity to operate in our current or prospective markets, potentially affecting our financial performance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Changes in taxes and other assessments may adversely affect us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The legislatures and tax authorities in the tax jurisdictions in which we operate regularly enact reforms to the tax and other assessment regimes to which we and our customers are subject. Such reforms include changes in tax rates and, occasionally, enactment of temporary taxes, the proceeds of which are earmarked for designated governmental purposes. In addition, the interpretation of tax laws by courts and taxation authorities is constantly evolving. In Brazil, the tax system is highly complex and the interpretation of the tax laws and regulations is commonly controversial. The effects of these changes and any other changes that result from enactment of additional tax reforms or changes to the manner in which current tax laws are applied cannot be quantified and there can be no assurance that any such reforms or changes would not have an adverse effect upon our business.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian government regularly implements changes to tax regimes that may increase the tax burden on us, our subsidiaries and jointly-controlled entities and their respective customers. These changes include modifications in the rate of assessments and the enactment of new or temporary taxes, the proceeds of which are earmarked for designated governmental purposes.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, economy minister Mr.&#160;Paulo Guedes proposed, during the 2018 presidential campaign, to revoke the income tax exemption over the distribution of dividends, which, if promulgated, would increase tax expenses associated with any dividends or distributions, which could impact our ability to pay dividends and receive future dividends from our subsidiaries. Any purported tax reform, if proposed and implemented, may also significantly impact our business.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Any future changes in tax policy or laws may adversely affect our business, financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Ongoing investigations relating to corruption and diversion of public funds that are being conducted by the Brazilian federal police as well as other Brazilian and non-Brazilian regulators and law enforcement officials may adversely affect the growth of the Brazilian economy and could have a material adverse effect on us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Certain Brazilian companies active in the oil and gas, energy, construction and infrastructure sectors are facing investigations by the CVM, the SEC, the U.S. Department of Justice, the Brazilian Federal Police and the Brazilian Federal Prosecutor&#8217;s Office, the Comptroller General of Brazil and other relevant governmental authorities, in connection with corruption allegations and diversion of public funds, the largest of which is known as &#8220;<span style="font-style: italic;">Opera&#231;&#227;o Lava Jato</span>,&#8221; or &#8220;Operation Car Wash.&#8221; The Brazilian federal police is also investigating allegations of improper payments made by Brazilian companies to officials of the Board of Tax Appeals (<span style="font-style: italic;">Conselho Administrativo de Recursos Fiscais</span>), or &#8220;CARF,&#8221; a tax appeals tribunal (the so-called &#8220;<span style="font-style: italic;">Opera&#231;&#227;o Zelotes</span>&#8221;). It is alleged that the purpose of such improper payments was to induce those officials to reduce or waive certain tax-related penalties imposed by the Brazilian federal revenue authority, which were under appeal in the CARF. Such investigations involve several companies and individuals, including representatives of various companies, politicians and third parties. Certain of these individuals are being investigated by the Brazilian Federal Police and others were formally charged and are facing criminal proceedings and/or have already been convicted by the Brazilian Federal Courts.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Depending on the duration and outcome of such investigations, the companies involved may face a reduction in their revenues, downgrades from rating agencies or funding restrictions, among other negative effects. Given the significance of the companies cited in these investigations in the Brazilian economy, the investigations and their fallout have had an adverse effect on Brazil&#8217;s economic growth prospects in the near, short to medium term. According to data from the IBGE, the Brazilian economy&#8217;s GDP contracted by 3.3% in 2016, increased by 1.3% in 2017 and in 2018, by 1.1% in 2019, contracted by 4.1% in 2020 and increased 3.9 % in 2021. Furthermore, the negative effects on such companies and others may also impact the level of investments in infrastructure in Brazil, which may lead to lower economic growth or contraction in the near to medium term.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As a result of the allegations under the &#8220;<span style="font-style: italic;">Lava Jato</span>&#8221; investigations and the economic downturn, Brazil was downgraded to non-investment grade status by Standard &amp; Poor&#8217;s, or &#8220;S&amp;P,&#8221; in September 2015, by Fitch Ratings, or &#8220;Fitch,&#8221; in December 2015, and by Moody&#8217;s Investors Service in February 2016, and was downgraded again by Fitch in May 2016. In addition, Brazil was further downgraded by S&amp;P to BB- with a stable outlook in January 2018 as a result of the failure of the current Brazilian government to approve certain pension reforms. Brazil&#8217;s sovereign rating is currently rated by the three major risk rating agencies as follows: BB- by S&amp;P and Fitch Ratings and Ba2 by Moody&#8217;s. Various major Brazilian companies were also downgraded. Such downgrades have further worsened the conditions of the Brazilian economy and the condition of Brazilian companies, especially those relying on foreign investments.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In addition, such investigations have extended to persons in high positions in the executive and legislative branches of the Brazilian government, which has caused considerable political instability. It is difficult to predict the effects of such political instability. Persistently poor macroeconomic conditions in Brazil resulting from, among other things, the &#8220;<span style="font-style: italic;">Lava Jato</span>&#8221; investigations, their consequences and political instability could have a material adverse effect on us.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">If we do not successfully comply with laws and regulations designed to prevent governmental corruption in countries in which we operate and sell our products (notably Brazil), we could become subject to fines, penalties or other regulatory sanctions, which could cause our sales and profitability to be materially reduced.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Our anti-corruption policies and procedures designed to prevent governmental corruption violations may not prevent our management, employees or third parties acting on our behalf in the countries in which we operate from taking actions that violate applicable laws and regulations on improper payments to government officials for the purpose of obtaining or keeping business or business advantages. Laws prohibiting such behaviors include (but are not limited to) laws relating to the OECD&#8217;s 1997 Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, such as the U.S. Foreign Corrupt Practices Act and Brazilian Law No. 12,846/2013, or the &#8220;Anticorruption Act,&#8221; which has been in effect since January 29, 2014. Any breach thereof may have a material adverse effect on our business, financial condition and results of operations, including access to financing, as well as the acceleration of loans and financing.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The Anticorruption Act imposes strict liability on companies for acts of corruption, fraud or manipulation of public tenders and government contracts, and interference with investigations or inspections by governmental authorities. Companies found liable under the Anticorruption Act face fines of up to 20% of their gross revenue in the immediately preceding year or, if such annual gross revenue cannot be estimated, such fines may range from R$6,000 to R$60 million. Among other sanctions, the Anticorruption Act also provides for the seizure of assets or benefits obtained illegally, the suspension or partial prohibition of operations, the dissolution of the entity and/or the prohibition to receive incentives, subsidies, donations or financing from the government or from government-controlled entities for up to five years. In assessing penalties under the Anticorruption Act, Brazilian authorities may consider the adoption of an effective compliance program. Other relevant laws applicable to corruption-related violations, such as Law No. 8.492/1992, or the &#8220;Administrative Improbity Law,&#8221; also provide for penalties that include the prohibition to enter into government contracts for up to 10 years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Consequently, if we, our management, our employees or third parties acting on our behalf in the countries in which we operate and sell our products become involved in any anti-corruption or criminal investigations or proceedings in connection with our business in Brazil or in any other jurisdiction, our business could be materially adversely affected.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" id="Bi4_JW6P6H54CW00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Item 4. Information on the Company</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" id="BAA_SQTFKOZQZ400000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">A. History and Development of the Company</span></a></div>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">General</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We are a publicly-held company incorporated under the laws of Brazil on July 8, 1966 for an indefinite term. Cosan S.A. is registered with the <span style="font-style: italic;">Junta Comercial do Estado de S&#227;o Paulo</span> in Brazil under registration number 35.300.177.045. Our legal name is Cosan S.A. and our commercial name is &#8220;Cosan.&#8221; Our registered office is located at Av. Brigadeiro Faria Lima, 4,100 &#8211; 16th floor, S&#227;o Paulo &#8211; SP, 04538-132, Brazil and our general telephone and fax numbers are 55 11 3897-9797 and 55 11 3897-9799, respectively. Our website is https://www.cosan.com.br/. In addition, the SEC maintains a website that contains information which we have filed electronically with the SEC, including our annual reports, periodic reports and other filings, which can be accessed at http://www.sec.gov. The information contained on our website, any website mentioned in this annual report or any website directly or indirectly linked to these websites, is not part of, and is not incorporated by reference in, this annual report and you should not rely on such information.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See also Exhibit 8.1 to this annual report, which contains a list of our subsidiaries.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">History</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our history dates back to 1936 when the Costa Pinto mill was established by the Ometto family in the city of Piracicaba in the state of S&#227;o Paulo. As of the mid-1980s, we began to expand our operations through the acquisition of various milling facilities in the state of S&#227;o Paulo.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On April 23, 2008, Cosan S.A. began operating as a fuel distributor and lubricants producer following its acquisition of Esso Brasileira de Petr&#243;leo Ltda or &#8220;Essobras.&#8221; Essobras was a distributor and seller of fuels and producer and seller of lubricants and specialty oil products of ExxonMobil in Brazil. On August 28, 2008, Cosan S.A. also announced the creation of an affiliate named Radar Propriedades Agr&#237;colas S.A., or &#8220;Radar,&#8221; which principally makes real estate investments in agricultural properties in Brazil.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In 2010, Cosan S.A. integrated its existing port terminal called Cosan Operadora Portu&#225;ria S.A. with Tea&#231;u Port Terminal, initiating our logistics business with the formation of Rumo Log&#237;stica S.A. (currently Rumo S.A.). </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In 2011, we and Shell established our Joint Venture, Ra&#237;zen, to produce sugar and ethanol and to distribute fuel. See &#8220;&#8212;C. Organizational Structure,&#8221; for further information on the Joint Venture. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On July 1, 2012, we concluded acquisition of Comma Oil &amp; Chemicals Limited, or Comma, a wholly owned subsidiary of Esso Petroleum Company Limited, to enter into the European lubricants &amp; specialties market. Comma is located in England and manufactures and supplies lubricants, seasonal and car care products to the United Kingdom and other export markets in Europe and Asia, primarily under the Comma brand. On November 5, 2012, we concluded the acquisition of 60.1% for R$3.4 billion of the share capital of Comg&#225;s from BG Group.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">At an extraordinary general meeting held on October 1, 2014, our shareholders approved a spin-off of our logistics business and the merger of the spun-off portion into Cosan Log&#237;stica. As a result, all of the shares issued by Cosan Log&#237;stica previously held by us were canceled and subsequently 405,856,814 new Cosan Log&#237;stica shares were issued to our shareholders at an exchange ratio of 1:1. Cosan Log&#237;stica&#8217;s shares were traded on the B3 under the ticker &#8220;RLOG3&#8221; from October 6, 2014 until March 5, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On April 1, 2015, the merger between Rumo and ALL was effected with an adjusted exchange ratio that gave Rumo&#8217;s shareholders 34.3% and ALL&#8217;s shareholders 65.7% of the capital stock of the combined company. As a result, ALL&#8217;s shares&#160; were delisted from B3 as of March 31, 2015. Subsequently, on October 8, 2016, ALL &#8211; Am&#233;rica Latina Log&#237;stica S.A. changed its corporate name to Rumo S.A. Subsequently, on December 31, 2016, Rumo Log&#237;stica was merged into its wholly-owned subsidiary Rumo S.A., as a result of which Rumo S.A. is the successor entity to Rumo Log&#237;stica.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On September 30, 2016, we entered into a Share Purchase Agreement with Mansilla Participa&#231;&#245;es Ltda. (a vehicle of TIAA Teachers Insurance and Annuity Association of America), another shareholder in Radar Propriedades Agr&#237;colas S.A. and Radar II Propriedades Agr&#237;colas S.A., or &#8220;Radar and Radar II,&#8221; through which we sold part of our shares in Radar and Radar II for an amount of R$1,053.8 million. The consideration was received on November 4, 2016. As a result of this transaction, we reduced our equity interest in Radar and Radar II from 37.7% to 3%. We retained significant influence over Radar and Radar II through a shareholders&#8217; agreement as described in &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On February 23, 2017, TPG VI Fundo de Investimento em Participa&#231;&#245;es, or &#8220;TPG VI,&#8221; a shareholder of Rumo exercised its right to exchange 11,479,987 shares issued by Rumo for shares issued by us pursuant to the shareholders&#8217; agreement entered into in 2010 between Cosan Log&#237;stica, TPG VI, GIF Rumo Fundo de Investimentos em Participa&#231;&#245;es, or &#8220;GIF,&#8221; us and Cosan Limited. We and GIF agreed to settle financially the stock replacement obligation through payment of R$275.8 million and the shares received were valued at fair value in the amount of R$97.9 million and recorded as capital reserve.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On October 16, 2017, Shell Gas B.V., Integral Investments B.V. and Shell Brazil Holding B.V. exercised their put option on the shares issued by Comg&#225;s against Cosan Limited in compliance with the option agreement between Shell and Cosan Limited executed on November 5, 2012 and amended on October 16, 2017. The exercise was concluded on December 12, 2017, when Shell transferred a total of 21,805,645 shares, which represents 16.77% of Comg&#225;s&#8217;s share capital for R$1,042 million. As part of the payment, we delivered to Shell 17,187,937 common shares issued by us, representing 4.21% of our capital stock, and also made a cash payment of R$208.7 million. The transaction was concluded on December 12, 2017. As a result, Shell ceased to be a shareholder in Comg&#225;s and, immediately after the transaction, we held 79.9% of Comg&#225;s&#8217;s shares and Cosan Limited held 58.21% of our shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On December 22, 2017, we entered into a definitive agreement with Jus Capital Gest&#227;o de Recursos Ltda. and Farallon Latin America Investimentos Ltda., for the purchase and sale of credit rights arising from severance claims filed against the Brazilian federal government, which was required to pay compensation for material damages resulting from the fixing of sugar and alcohol prices below their cost of production, in a total amount of R$1,340&#160;million. In addition to the acquisition price, we were entitled to receive certain additional payments which are contingent upon the purchaser&#8217;s actual receipts from the receivables.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On March 19, 2018, Cosan Lubrificantes e Especialidades S.A., or &#8220;CLE,&#8221; entered into an agreement with ExxonMobil, pursuant to which CLE has received exclusive production, import, distribution and marketing rights in Brazil, Bolivia, Paraguay and Uruguay for lubricants and certain other related products under the Mobil brand until November 30, 2038. This agreement came into force on December 1, 2018.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On April 24, 2018, Ra&#237;zen Combust&#237;veis and its subsidiary Ra&#237;zen Argentina Holdings S.A.U. entered into an agreement for the acquisition of Shell Compa&#241;&#237;a Argentina de Petr&#243;leo S.A. and Energina Compa&#241;&#237;a Argentina de Petr&#243;leo S.A., or &#8220;Ra&#237;zen Argentina,&#8221; from Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij for an amount of U.S.$916 million. The acquisition was completed on October 1, 2018. Ra&#237;zen Argentina operates an oil refinery and distributes fuel through a network of petrol stations in Argentina (of which 10% are owned by Ra&#237;zen Combust&#237;veis).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On May 31, 2018, we, through our subsidiary CLI, acquired control of TTA &#8211; SAS Techniques et Technologie Appliqu&#233;es, or &#8220;TTA,&#8221; and Lubrigrupo II &#8211; Com&#233;rcio e Distribui&#231;&#227;o de Lubrificantes, S.A., or &#8220;LubrigrupoII,&#8221; R$44.2 million and R$11.3 million, respectively, generating an additional goodwill in the lubricants segment of R$23.6 million and R$6.8 million, respectively. The total consideration paid for these acquisitions, net of cash received, amounted to R$33.0 million and R$10.0 million, respectively.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On August 1, 2018, we established Payly to operate a digital payment scheme for consumers and B2B partners.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On December 20, 2018, through our subsidiary Cosan Lubes Investments Limited, or &#8220;CLI,&#8221; we acquired control of Moove Corp, a lubricants producer in the United States, for an initial consideration of R$112.8 million, generating an additional goodwill in the Moove segment of R$67.5 million. The total consideration, net of cash received, amounted to R$112.8 million.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On December 21, 2018, CLI and CVC Fund VII, or &#8220;CVC,&#8221; entered into an investment agreement pursuant to which CVC subscribed for shares in Moove&#8217;s capital in a total amount of R$588 million (which was equivalent to 30% of Moove&#8217;s capital at the time). The transaction was concluded on March 29, 2019. As a result, Moove received R$454 million at the closing of the transaction, R$65 million on March 31, 2020 and R$69 million in 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On March 28, 2019, Rumo announced that it won the tender (Bidding No. 02/2018) organized by ANTT to operate the railroad network located between the cities of Porto Nacional in the state of Tocantins and Estrela d&#8217;Oeste in the state of S&#227;o Paulo, for a period of 30 years from July 31, 2019. Rumo&#8217;s bid was R$2,719.5 million. On July 31, 2019, Rumo entered into a sub-concession agreement with ANTT and Valec Engenharia, Constru&#231;&#245;es e Ferrovias S.A. allowing Rumo Malha Central to explore for 30 years the activities of rail freight transport and operate the Ferrovia Norte Sul Tramo Central. Rumo was required to pay: (1) 5% of the value of its bid within 45 days of the publication of ANTT&#8217;s final decision, and (2) the remainder in 120 quarterly installments calculated pursuant to the terms of the concession agreement to be entered into in connection with the concession. This payment, in an amount of R$145.2 million, was completed on July 24, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On May 31, 2019, ARSESP concluded the Fourth Ordinary Tariff Review regarding the update of Comg&#225;s&#8217;s tariffs to be applied across all segments from that date. Prices were adjusted by an amount corresponding to inflation as measured by the General Market Price Index (<span style="font-style: italic;">&#205;ndice Geral de Pre&#231;os &#8211; Mercado</span>), or &#8220;IGP-M,&#8221; and to reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On June 11, 2019, the board of directors of Comg&#225;s, with the approval of Comg&#225;s&#8217;s fiscal council, approved a reduction in Comg&#225;s&#8217;s capital stock in the amount of R$1,500 million without cancellation of shares and while preserving the existing percentage of shareholders&#8217; interest in Comg&#225;s&#8217;s capital stock through a refund in cash to shareholders of part of their shares. The decision was based on the board of directors&#8217; opinion that Comg&#225;s&#8217;s capital stock had become excessive for the normal development of its business and the achievement of its corporate purpose. As a result, Comg&#225;s&#8217;s capital decreased from R$2,036 million to R$536 million.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On June 13, 2019, Cosan Limited signed an Investment Agreement to acquire up to 80% of the voting power of Sinlog Tecnologia em Log&#237;stica S.A. or &#8220;Trizy,&#8221; a company focused on the development of a logistic management tool, consisting of a mobile application and a web platform to connect truck drivers to customers interested in hiring transport services. Cosan S.A., as successor of Cosan Limited, completed a capital increase in Trizy in February 2021 to achieve approximately 80% voting power after 18 months of the closing date, in accordance with the terms of the investment agreement.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On September 2, 2019, we disposed of 25% of the share capital of Payly to Manzat Inversiones AUU S.A., or &#8220;Manzat,&#8221; for R$11.2 million and entered into an investment agreement with Manzat in relation to Payly.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On September 19, 2019, we entered into a definitive agreement with Jus Capital Gest&#227;o de Recursos Ltda. for the purchase and sale of credit rights arising from severance claims filed against the Brazilian federal government, which was required to pay compensation for material damages resulting from the fixing of sugar and alcohol prices below their cost of production. The total involved amounts to R$410 million plus additional payments amounting to 95% of the difference between the net amount received in connection with Brazilian federal government credit rights for assignment, net of return of assignees on a basis of R$410 million, resulting from (1) indemnity claims, applied to the condemnation of the Brazilian federal government due to the fixing of prices of sugar and alcohol below their cost of production; and (2) additional payments related to the assignment of credit rights executed on December 21, 2017 and the application of 95% of the net difference received by the Brazilian federal government credit rights for assignment, net of return of assignees.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On September 30, 2019, we concluded a voluntary tender offer for acquisition of common shares issued by Comg&#225;s. This was the third in a series of tender offers for Comg&#225;s shares, with the first two being conducted on March 8, 2019 and June 30, 2019. As a result of these three tender offers, our interest in Comg&#225;s increased from 80.12% prior to the tender offers to 99.15% following the conclusion of the third tender offer.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On November 1, 2019, Ra&#237;zen S.A. and FEMSA Comercio, S.A. de C.V., or &#8220;FEMSA Comercio,&#8221; formed a joint venture in the convenience and proximity store business which operates stores under the OXXO brand, called Rede Integrada de Lojas de Conven&#234;ncias e Proximidade S.A., or &#8220;Grupo N&#243;s.&#8221; The enterprise value was R$1,122 million, with an effect on interest in earnings of the joint venture of R$529 million, resulting from gains related to dilution of shares, sale of shares and the fair value in the formation of this joint venture.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On January 14, 2020, we contributed to the share capital of our wholly-owned subsidiary Compass, formerly known as Distribuidora de G&#225;s Participa&#231;&#245;es S.A., the totality of the shares we held in Comg&#225;s (i.e., 103,699,333 common shares and 27,682,044 preferred shares), equivalent to 99.15% of the total share capital of Comg&#225;s, for an amount of R$2,862 million. As the parties to the transaction are under common control, there was no effect on our consolidated financial statements. We derecognized the investment in Comg&#225;s and we recognized an investment in Compass for the same amount.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On January 30, 2020, we strengthened our presence in the energy business by acquiring Compass Comercializadora de Energia Ltda., or &#8220;Compass Comercializadora&#8221; (which merged into Compass Comercializa&#231;&#227;o on November 30, 2020, with Compass Comercializa&#231;&#227;o being the surviving entity) and Compass Energia&#160;Ltda., or "Compass Energia," for R$95 million. Subsequently, on March 9, 2020, we announced the creation of &#8220;Gas and Power,&#8221; our new gas and power business segment of which Compass is the holding company and through which we now conduct our activities in the gas and power market. Compass has invested in the operations of Comg&#225;s, Compass Comercializa&#231;&#227;o, TRSP&#8212;Terminal de Regaseifica&#231;&#227;o de GNL de S&#227;o Paulo S.A., or &#8220;TRSP,&#8221; Rota 4 Participa&#231;&#245;es S.A., Compass Comercializa&#231;&#227;o&#160;and Compass Energia. Prior to the creation of our Gas and Power segment, our natural gas distribution operations were concentrated in our Comg&#225;s segment, which was renamed &#8220;Gas and Power.&#8221; Our financial condition for the historical periods prior to January 1, 2020 discussed in this annual report does not reflect the creation of our Gas and Power segment, which was completed in 2020.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On March 11, 2020, we, our subsidiaries and jointly controlled companies suffered a cyberattack by ransomware that caused a partial and temporary interruption of our operations. See also &#8220;Item 3. Key Information&#8211;&#8211;D. Risk Factors&#8212;Risks Related to Our Businesses, the Operations of Our Joint Venture, and Industries in Which We Operate&#8212;We were the target of a cybersecurity incident which disrupted our systems&#8221; and &#8220;Item 3. Key Information&#8211;&#8211;D. Risk Factors&#8212;Risks Related to Our Businesses, the Operations of Our Joint Venture, and Industries in Which We Operate&#8212;We could be the target of attempted cyber threats in the future and they could adversely affect our business.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On April 9, 2020, Cosan Limited entered into a share purchase and derivatives trading plan, or the &#8220;Total Return Swap,&#8221; with Banco Santander (Brasil) S.A. &#8211; Cayman Branch, or &#8220;Santander Cayman,&#8221; and Santander Fundo de Investimento Amazonas Multimercado Cr&#233;dito Privado Investimento no Exterior, or the &#8220;Santander Fund.&#8221; Pursuant to the Total Return Swap, the Santander Fund will be able to purchase, on its own behalf, common shares issued by us, and Santander Cayman will be able to enter into equity swap transactions on its own behalf and on our behalf in connection with such shares (for which purpose we also entered into a master agreement with certain Santander entities). On March 1, 2021, a new agreement was entered into with Cosan S.A. in place of Cosan Limited to reflect the Merger. <span style="background-color: #ffffff;">The maximum aggregate amount of derivatives which may be negotiated pursuant to the Total Return Swap and the maximum aggregate number of underlying Cosan S.A. shares thereunder are R$600</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">million and 19,500,000, respectively.</span><span style="background-color: #ffffff;">&#160;</span>As of the date of this annual report, derivatives in an aggregate amount of R$600 million involving the equivalent to 39,748,012 of our common shares had been entered into pursuant to the total return swap.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On May 27, 2020, Rumo entered into an amendment to the concession agreement relating to Rumo Malha Paulista with the ANTT. The amendment was reviewed and authorized by the Federal Court of Accounts <span style="font-style: italic;">(Tribunal de Contas da Uni&#227;o)</span> pursuant to a decision issued on May 20, 2020 (TC 009.032/2016-9). As a result, the term of the Rumo Malha Paulista concession is expected to be extended to 2058, provided that Rumo complies with certain obligations. Furthermore, the new value of the concession grant is of approximately R$3.4 billion (of which R$2.8 billion has already been paid), to be paid in quarterly installments over the term of the contract until 2058, with estimated investments of R$6.1 billion (as of December 2017) over the same period.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On August 27, 2020, Rumo completed a follow-on offering of common shares as a result of which it raised R$6,400 million through the issuance of 294,252,874 common shares at a price of R$21.75 per share. Rumo used the proceeds of the offering to (1) prepay grants due in connection with certain of Rumo&#8217;s concession agreements and (2)&#160;finance several strategic projects that were driven by the recent early renewal of the Rumo Malha Paulista concession agreement.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On September 15, 2020, Rumo prepaid approximately R$5.1 billion in concession fees relating to its Malha Paulista and Malha Central networks, which had a longer duration and would impede cash generation, since they have higher annual installments. Rumo opted to prepay these fees as the renewal of the Malha Paulista concession until 2058 generated a lease liability with a present value of approximately R$3.3 billion and an interest rate of IPCA plus 11.04% per year, while Malha Central is another concession with a high lease liability, the present value of which was R$2.8 billion with an interest rate of IPCA plus 11.04% per year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On January 22, 2021, the shareholders of Cosan Limited (the former parent company of Cosan and Cosan Log&#237;stica) and the shareholders of Cosan and Cosan Log&#237;stica approved an intra-group restructuring, announced on July 3, 2020 by Cosan, Cosan Limited and Cosan Log&#237;stica, consisting of a reorganization of entities under common control, as provided by art. 264, paragraph 4, of Brazilian Law No. 6,404. For more information on the Merger, see &#8220;Presentation of Financial and Other Information&#8212;Certain Corporate Events&#8212;Our Corporate Reorganization.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On February 28, 2021, Rumo Malha Central S.A., or &#8220;Rumo Malha Central,&#8221; started its rail operations connecting the networks of Rumo Malha Paulista and Rumo Malha Norte.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On April 27, 2021, at the annual and special shareholders&#8217; meeting of Rumo, its shareholders approved a managerial proposal to write off its accrued losses as of December 31, 2020, in the amount of R$3,760.7 million against its profit reserves and share capital. As a result, Rumo wrote off these losses against R$253.6 million of its profit reserves and R$3,507.0 million of its share capital, without the cancellation of any shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On April 30, 2021 at our ordinary general meeting, our shareholders approved a stock split at a ratio of one to four, whereby our 468,517,733 common shares were split into 1,874,070,932 common shares. As a result, each of our ADSs came to represent four common shares, instead of one. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">In May 2021 and July 2021, we executed amendments to certain agreements in anticipation of Ra&#237;zen&#8217;s initial public offering, which was completed in August 2021. As part of these amendments, the lock-up periods provided for in the applicable agreements were renewed for an additional five years from July 2021. The call and put options described above remained the same. See &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Shareholders&#8217; Agreements and Other Arrangements&#8212;Agreements between Shell and Us.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On May 20, 2021, Ra&#237;zen entered into a renewal of the license agreement for the use of the &#8220;Shell&#8221; brand with Shell Brands International AG. With this renewal, Ra&#237;zen will keep the right to use the &#8220;Shell&#8221; brand in the fuel distribution sector and related activities in Brazil for at least 13 years. This term can be renewed in certain circumstances provided certain conditions are met.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 31, 2021, our subsidiary Compass entered into an investment agreement with Atmos Il&#237;quidos 1 Fundo de Investimento em A&#231;&#245;es, Atmos Master Fundo de Investimento em A&#231;&#245;es, Manzat Inversiones Auu S.A. and Ricardo Ernesto Correa da Silva&#160; (together, the &#8220;Investors&#8221;), through which the Investors agreed to jointly subscribe for 30,853,032 preferred shares issued by Compass, representing 4.68% of its capital stock, in exchange for a cash contribution of R$810 million. Pursuant to one of the conditions precedent, on August 12, 2021, Compass was registered at B3. Closing occurred on August 27, 2021. On September 4, 2021, Compass entered into a second investment agreement with Bradesco Vida e Previd&#234;ncia S.A., or &#8220;Bradesco,&#8221; BC Gest&#227;o de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda. whereby these entities agreed to invest R$1,440.0 million into Compass in exchange for being issued new preferred shares amounting to 7.68% of the total share capital. On September 10, 2021, the first financial settlement of the investment made by Bradesco was concluded via a capital increase in Compass in the amount of R$810.0 million through the issuance of new preferred shares representing 4.47% of the total share capital. On October 29, 2021, the remaining settlement of the investment was carried out for the total amount of R$630.0 million. As a result, Compass increased its capital by R$23,996.0 through the issuance of 23,996,342 class B preferred shares, all registered, book-entry and without par value at the issue price of R$26.25 per share. The total sum of contributions was R$2,250.0 million.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On June 1, 2021, Ra&#237;zen completed an internal corporate reorganization as a result of which Ra&#237;zen became the holder of the entire share capital of Ra&#237;zen Energia. As part of this corporate reorganization, Ra&#237;zen Combust&#237;veis S.A. changed its corporate name to Ra&#237;zen S.A. See &#8220;Presentation of Financial and Other Information&#8212;Certain Corporate Events&#8212;Consolidation of Ra&#237;zen.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On June 7, 2021, Ra&#237;zen acquired the entire issued share capital of Neolubes Ind&#250;stria de Lubrificantes Ltda., or &#8220;Neolubes,&#8221; from Shell Brasil Petr&#243;leo Ltda., or &#8220;Shell Brasil,&#8221; a related party of Ra&#237;zen (under common control), involving a total amount of R$750 million (assuming a debt and cash position equal to zero on the closing date, and subject to usual adjustments based on Neolubes&#8217; net debt position and working capital). In addition, prior to closing, Shell Brasil contributed all of its lubricant assets in Brazil to Neolubes, including the lubricant mixing plant located at Ilha do Governador and the Duque de Caxias base in Rio de Janeiro, as well as the entire supply and distribution chain and their respective agreements. The closing of the transaction was subject to approval by the Brazilian Antitrust Authority and other customary conditions precedent, all of which were satisfied on May 2, 2022, when Ra&#237;zen concluded the acquisition of Lubrificantes da Shell Brasil Petr&#243;leo Ltda. As a result, Ra&#237;zen added to its portfolio the lubricants plant in Ilha do Governador, in the State of Rio de Janeiro, the base oil terminal in Campos El&#237;seos, in the State of Rio de Janeiro, the Shell Marine lubricants division and the Shell-branded lubricants supply and distribution business in Brazil. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On July 12, 2021, Ra&#237;zen&#8217;s shareholders approved a capital increase in the total amount of R$130.1 million through the capitalization of a capital reserve in the same amount, with the issuance of 121,621,650 new preferred shares attributed to its shareholders in proportion to their interest in Ra&#237;zen&#8217;s share capital, at a unit price of R$1.07 per share.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On July 28, 2021, Compass entered into a Share Purchase Agreement with Petr&#243;leo Brasileiro S.A., or &#8220;Petrobras,&#8221; for the acquisition of a 51% stake in Petrobras G&#225;s S.A., or &#8220;Gaspetro.&#8221; Gaspetro is a holding company that holds equity interests (mostly minority interests) in 19 companies that have exclusive rights to piped gas services in several Brazilian states. Gaspetro&#8217;s distribution networks cover approximately 10,000 km, serving more than 500,000 customers, with a distributed volume of approximately 29&#160;million cbm/day. The consideration for this acquisition is R$2.0 billion, to be paid upon closing of the transaction, subject to customary purchase price adjustments. The closing of the transaction is still subject to customary closing conditions, including approval by the Brazilian Antitrust Authority. On March 9, 2022, and March 11, 2022, Compass entered into two separate agreements with third parties for the sale of interests in up to seven natural gas distribution companies in which Gaspetro holds a minority interest. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On August 6, 2021, Ra&#237;zen completed an initial public offering of 810,811,000 preferred shares for a price of R$7.40 per share and an aggregate amount of R$6.0 billion. The proceeds from the offering were used for (1) the construction of new plants to expand the production of renewables and sales capacity; (2) investments in the efficiency and productivity of bioenergy parks; and (3) investments in storage and logistics infrastructure to support the increase in sales volume of renewables and sugar. Ra&#237;zen issued an additional 95,901,350 preferred shares following the exercise of the underwriters&#8217; overallotment option. Ra&#237;zen&#8217;s shares are listed on the B3 under the ticker symbol &#8220;RAIZ4.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On August 10, 2021, Ra&#237;zen concluded the acquisition of all the shares issued by Biosev S.A., or &#8220;Biosev,&#8221; following the fulfillment of the applicable conditions precedent. The total amount paid was R$4,581.9 million, part of which was used to pay a portion of Biosev&#8217;s debts. In connection with the transaction, H&#233;dera Investimentos e Participa&#231;&#245;es S.A., or &#8220;H&#233;dera&#8221; (the seller and former controlling shareholder of Biosev), exercised a subscription warrant issued at the Ra&#237;zen shareholder meeting of June 1, 2021, resulting in H&#233;dera becoming the holder of 330,602,900 preferred shares in Ra&#237;zen representing approximately 3.22% of Ra&#237;zen&#8217;s capital stock. Biosev&#8217;s main activities are the production, processing and sale of rural and agricultural products, mainly sugarcane and its derivatives, generation and sale of energy, as well as derivatives from energy cogeneration. This business combination is in line with Ra&#237;zen&#8217;s strategy of leading the transformation of the energy matrix with its own technology, by expanding the crushing capacity and increasing the share of renewable products in our portfolio.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On August 23, 2021, we started a new investment strategy through a new vehicle of the group, Cosan Investments, which is structured as an investment fund. Cosan Investments will enable investments in new businesses with our own funds. In the fourth quarter of 2021, Cosan Investments increased its equity interest in Radar, the agricultural land management company.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On August 23, 2021, through our subsidiary Atl&#226;ntico Participa&#231;&#245;es Ltda., or &#8220;Atl&#226;ntico,&#8221; we entered into a binding proposal for the acquisition of 100% of TUP Porto S&#227;o Luis S.A., or &#8220;Porto S&#227;o Luis,&#8221; from the controlling shareholder, S&#227;o Lu&#237;s Port Company SARL, a China Communications Construction Company Limited, or &#8220;CCCC,&#8221; and the other minority shareholders jointly holding a 49% interest (WPR Participa&#231;&#245;es Ltda, MG3 Terminais Portu&#225;rios Holding Ltda., Nilton Bertuchi, Roberto Bocchino Ferrari, Jos&#233; Hagge Pereira, Melius Consultoria e Intermedia&#231;&#227;o de Neg&#243;cios Ltda.). We initially acquired a minority interest and subsequently acquired the remainder of the shares for a total amount paid for both transactions of R$804.8 million. The acquisition generated preliminary goodwill in the amount of R$417.0 million resulting from the acquisition of Porto S&#227;o Luis. The transaction closed on February 11, 2022.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Also on August 23, 2021, Atl&#226;ntico signed a Binding &#8220;MoU&#8221; with the company Grupo Paulo Brito, founder and controller of Aura Minerals Inc., or &#8220;Aura,&#8221; a mining company focused on gold and copper, to form a joint venture for the exploration of iron ore, which will be shipped through TUP Porto S&#227;o Luis S.A., or &#8220;JV Minera&#231;&#227;o.&#8221; This MoU provides that Atl&#226;ntico will hold 37% of the total capital and shared control of the new combined company, or 50% of the common shares of the new combined company, after the contribution of Porto S&#227;o Luis and cash, depending on calls from capital by the company&#8217;s management. JV Minera&#231;&#227;o will be an integrated mining and logistics company, which will have, in addition to Porto S&#227;o Luis, exploration rights for mining assets in three mineral projects located in the state of Par&#225;, with significant potential for iron ore reserves, to be sold through the Port of S&#227;o Luis. With the beginning of its operations expected for 2025, the first mineral project to be explored by JV Minera&#231;&#227;o is located near to Paraupebas in the state of Par&#225;, in the Caraj&#225;s region, connected to Porto S&#227;o Luis by the Caraj&#225;s railroad. The completion of the transaction is subject to conditions precedent that have not yet been met as of the date of this annual report.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On September 1, 2021, we anticipated the payment of obligations with non-controlling preferred shareholders of CIP for the amount of R$182.4 million. On December 1, 2021, CIP was merged into Cosan. Considering that CIP&#8217;s net assets were represented by the investment in Ra&#237;zen S.A., the effect on Cosan was a reclassification between the lines of &#8220;Investments in subsidiaries and associates&#8221; to &#8220;Investment in joint venture.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On September 10, 2021, Rumo definitively ended the existing arbitration procedure with the non-controlling shareholders of Brado Log&#237;stica e Participa&#231;&#245;es S.A. (<span style="font-style: italic;">Log&#237;stica Brasil &#8211; Fundo de Investimento e Participa&#231;&#245;es, Dimitrio Markakis and Deminvest E</span><span style="font-style: italic;">mpreendimentos e Participa&#231;&#245;es</span>) by acquiring 2,000 shares of Brado Log&#237;stica e Participa&#231;&#245;es S.A., which represents 15.42% of the share capital, for R$388.7 million, thereby increasing its interest to 77.65%.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On September 19, 2021, Rumo Malha Norte entered into an adhesion agreement with the State of Mato Grosso, which allows Rumo Malha Norte to engage in the construction, operation, exploration and conservation of a railroad that independently connects the Rondon&#243;polis railroad terminal to Cuiab&#225; and Lucas do Rio Verde in the state of Mato Grosso.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On September 20, 2021, we entered into a Share Purchase Agreement governed by Brazilian law with Mansilla Participa&#231;&#245;es Ltda., or&#160; &#8220;Mansilla&#8221; (a vehicle of the investment fund TIAA &#8211; Teachers Insurance and Annuity Association of America), for the acquisition of an additional shareholding interest in Grupo Radar, or &#8220;Radar,&#8221; including the acquisition of interests in the following entities: Radar Propriedades Agr&#237;colas S.A., Radar II Propriedades Agr&#237;colas S.A., Nova Agr&#237;cola Ponte Alta S.A., Nova Amaralina S.A. Propriedades Agr&#237;colas, Nova Santa B&#225;rbara Agr&#237;cola S.A., Terras da Ponte Alta S.A., Castanheira Propriedades Agr&#237;colas S.A., Manac&#225; Propriedades Agr&#237;colas S.A. and Paineira Propriedades Agr&#237;colas S.A.&#160; On November 3, 2021, the acquisition of additional shares of Radar from Mansilla was concluded upon the payment of the first installment, in an amount of R$602 million, by Cosan. The outstanding amount (totaling R$1,572.4 million, including R$1,479.4 million as principal and an additional R$93.0 million as an adjustment due to the effects of Brazilian inflation) is due in three annual installments to be paid until 2024, as set forth in the agreement executed by the parties. For more information, please see note 9.3 to our consolidated financial statements included elsewhere in this annual report.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On October 1, 2021, Comg&#225;s entered into the 7<span style="vertical-align: super;">th</span> Amendment to the Concession Agreement No. CSPE/01/99 for the public distribution of natural gas for part of the State of S&#227;o Paulo with Secretary of Infrastructure and the Environment (<span style="font-style: italic;">Secretaria de Infraestrutura e Meio Ambiente</span>), or &#8220;SIMA.&#8221; This amendment extended the term of the concession agreement until December 31, 2049.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On October 19, 2021, we and ExxonMobil International Holdings BV entered into an Amendment to the Sale and Purchase of Member Interests pursuant to which CLE made a payment of R$208.1 million to ExxonMobil International Holdings BV in order to obtain full rights to certain tax credits granted during the tax optimization program that CLE has entered into. As a result, CLE now has the full right of these tax credits.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On October 22, 2021, Compass, through its wholly owned subsidiary Compass Um Participa&#231;&#245;es S.A., or &#8220;Compass Um,&#8221; submitted the winning bid of R$955.2 million in Auction No. 01/2021, held on the B3, for the acquisition of 51% of the capital stock of Companhia de G&#225;s do Estado do Rio Grande do Sul, or &#8220;Sulg&#225;s,&#8221; owned by the Government of the State of Rio Grande do Sul. On January 3, 2022, Compass Um concluded the acquisition of 51% of the capital stock of Sulg&#225;s. Sulg&#225;s&#8217;s distribution network amounts to approximately 1,400 km, serving more than 68,000 customers in 42 municipalities, with a distributed volume of two million m<span style="vertical-align: super;">3</span>/day. The preliminary goodwill from the acquisition, in the amount of R$821.9 million, is allocated in its entirety to the concession right recorded in intangibles. The 49% minority interest totaling R$917.8 million, recognized on the Acquisition Date (as defined in Auction No. 01/2021), was measured based on the fair value of the minority interest. The financial information as of and for the years ended December 31, 2021, 2020 and 2019 included in this annual report does not reflect the acquisition of Sulg&#225;s.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On November, 1, 2021, Ra&#237;zen concluded the acquisition of 50% of the capital stock of Barcos y Rodados SA, or &#8220;B&amp;R,&#8221; for a purchase amount of US$121.9 million, of which US$31.9 million was paid on November 1, 2021, and US$90.0 million will be paid in five annual installments, subject to customary adjustments. On the same date, Ra&#237;zen entered into an agreement regulating the right to use the Shell brand by B&amp;R and a shareholder&#8217;s agreement that will govern the relationship between the shareholders.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On November 8, 2021, we entered into an Association and Investments Agreement with Porto Seguro Servi&#231;os e Com&#233;rcio S.A. to establish Mobitech, a joint venture for the creation of a mobility services platform. On February 21, 2022, we and Porto Seguro Servi&#231;os e Com&#233;rcio S.A. terminated the agreement, ending all negotiations for the potential formation of the joint venture.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On December 29, 2021, we contributed all the shares held in the companies acquired from Radar Group, equivalent to 50% of such companies&#8217; share capital, in the amount of R$2,115.5 million to Verde Pinho Fundo de Investimento em Participa&#231;&#245;es Multiestrat&#233;gia, or &#8220;FIP Verde Pinho.&#8221; FIP Verde Pinho is an investment fund which is part of Cosan Investmentos which is indirectly wholly owned by Cosan through the multi-market investment fund Violeta Fundo de Investimento Multimercado Cr&#233;dito Privado, or &#8220;FIM Violeta.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On January 18, 2022, Rumo redeemed its 5.875% senior notes due 2025, in the amount of US$500 million, equivalent to R$2,780.5 million pursuant to the terms of the indenture governing the notes.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On May 9, 2022, our board of directors approved a new share buyback program pursuant to which up to 110,000,000 common shares of Cosan S.A. representing 5.87% of our total shares may be repurchased over a period of 18 months from the date of approval. The shares repurchased may be used to meet our obligations from potential exercises of our equity-based compensation plans, and may also be held in treasury, disposed of or cancelled in accordance with applicable law. This share buyback program supersedes our previous share buyback program which had been approved on March 26, 2021.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic; font-weight: bold;">Impact of </span><span style="font-style: italic; font-weight: bold;">COVID-19</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">We are still closely monitoring the evolution of the COVID-19 pandemic in Brazil and globally, in order to take preventive measures to minimize the spread of the virus, ensure the continuity of operations and safeguard the health and safety of our personnel. In early 2022 Brazil managed to suppress the transmission of the virus and ease restrictions, which has raised expectations that the economy will recover during 2022. However, we cannot assure you that the COVID-19 pandemic will not worsen again during 2022.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our response to the pandemic was effective throughout the year in limiting the impacts on our operating facilities, employees, supply chain and logistics. The impacts include, but are not limited to the following:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">Ra&#237;zen. </span>Fuel consumption increased by 14% in Brazil in 2021 compared to 2020 as a result of an easing of restrictions and the recovery of economic activities. This resulted in an increased demand for otto-cycle (gasoline and ethanol combination) of 15% in 2021 compared to 2020. Diesel consumption remained resilient in Brazil, supported by higher demand by the agribusiness and transportation sectors. In 2021, total fuel sales in international operations (Argentina and Paraguay) increased by 22% as a result of the expansion of demand by the service station network and business-to-business clients. Consumption of gasoline and diesel were the most affected, both increasing in 2021 compared to 2020. In Brazil, demand for ethanol increased in line with the higher demand for fuels. Sales of sugar decreased in the 2021/2022 harvest year compared to the 2020/2021 harvest year, with lower production due to the crop setback in the central-south region and the commercialization strategy.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">Logistics</span>. Rumo&#8217;s transported volume in 2021 reached 64 billion of tons per kilometer used, or &#8220;TKU,&#8221; an increase of 2.5% compared to 2020. In Rumo&#8217;s northern operations, transported volume increased 3%, limited by the impact of lower demand for transportation of grains due to corn crop setback. In Rumo&#8217;s southern operations, transported volume decreased 2%, also affected by the corn crop setback. The volume transported by Rumo&#8217;s container operations increased by 12%, bolstered by higher exports flow and volumes recovered in the domestic market.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">Gas and Power</span><span style="font-style: italic;">.</span> Demand for natural gas in the industrial segment increased by 14.1% in 2021 compared to 2020, driven by the resumption in virtually every sector we serve. In the commercial segment, demand has increased by 11.4% in 2021 compared to 2020, in part due to the easing of COVID-19 restrictions on commercial establishments. Furthermore in the residential segment, demand has increased by approximately 4% in 2021 compared to 2020 due to lower temperatures in the second half of the year and the gross addition of 145,000 clients in the last 12 months. </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">Moove.</span> Total volume sold by Moove decreased by 2.4% and the net operating revenue increased 38.4% in the year ended December 31, 2021 compared to the year ended December 31, 2020, reflecting the normalization of demand following the easing of COVID-19 restrictions, the effects of foreign exchange rates and price adjustments. In the second half of 2020, the company captured additional demand derived from the gradual recovery in economic activity and market supply dynamics, with this scenario lasting until mid-2021.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian governmental authorities took several measures to assist businesses affected by the COVID-19 pandemic. We have set out below a list of key measures which affect companies of the Cosan Group:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ordinances of the Brazilian Ministry of the Economy No. 139, No. 150 and No. 245 postponing the due date of certain federal taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The Brazilian federal governme</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nt postponed the due dates of (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) social contributions due by employers and domestic employers for March and April of 2020 to August and Oct</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ober 2020, respectively; and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) PIS and COFINS contributions for March and April 2020 to August and October, 2020, respectively. Ordinance No. 245 also extended the deadline for the payment of the abovementioned taxes due in May 2020 to November 2020.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Provisional Measure No. 927.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> With Provisional Measure No. 927, FGTS payments by employers previously due in April, May and June 2020, were deferred and payable as from July 2020, in up to six installments.</span></li>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Provisional Measure No. 932.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Provisional Measure No. 932 reduced the rates of certain contributions paid by employers in relation to autonomous social services entities (such as the National Industrial Apprenticeship Service (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Servi&#231;o Nacional de Aprendizagem Industrial &#8211; SENAI</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) or the National Service for Learning and Commerce (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Servi&#231;o Nacional de Aprendizagem e Com&#233;rcio &#8211; SENAC</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)) until June 30, 2020. The reductions were different for each entity that belongs to autonomous social services, ranging from 0.05% to 1.25%.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Federal Decree No. 10,305 and Federal Decree No. 10,504.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Federal Decree No. 10,305 reduces to zero the tax on financial transactions (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Imposto sobre Opera&#231;&#245;es Financeiras</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IOF</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> applicable to credit transactions entered into between April 3 and July 3, 2020. Federal Decree No. 10,504 extended, until December 31, 2020, the zero-tax rate for the IOF due on credit transactions contracted between April 3, 2020, and December 31, 2020.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ordinance of the Ministry of Economy No. 201.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ordinance No. 201 extended the maturity date of the monthly installments related to the installment programs administered by the Special Secretariat of the Federal Revenue of Brazil (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Receita Federal do Brasil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">RFB</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and by the National Treasury Attorney</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Procuradoria-Geral da Fazenda Nacional</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">PGFN.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> As a result, the installments due in May, June and July 2020 are extended until the last business day of August, October and December 2020, respectively.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Commitment agreement: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s entered into a commitment with the government of the State of S&#227;o Paulo to continue to supply gas to defaulting customers until July 31, 2020.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8211;D. Risk Factors</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;Our business, operations and results may be adversely impacted by COVID-19</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Impact of COVID-19.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Capital Expenditures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For a description of our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">main</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> capital expenditures over the fiscal years ending December 31, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">21</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 201</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 5. Operating and Financial Review and Prospects&#8212;B. Liquidity and Capital Resources&#8212;Capital Expenditures.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> For more information concerning our principal capital expenditures currently in progress, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;D. Property, Plant and Equipment&#8212;Capital Expenditures.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BBB_CFZF8NYN4G00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">B. Business Overview</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We believe we are one of the largest companies in Brazil with businesses in strategic sectors to Brazil&#8217;s development, such as energy and logistics. The following companies are part of our organization: Ra&#237;zen (which is under joint control), Compass and its subsidiary Comg&#225;s, Moove and Rumo, in addition to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, through which we control Radar, among others.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen, a joint venture between us and Shell created in June of 2011, produces more than two billion liters of ethanol per year to supply both domestic and international markets and four million tons of sugar, with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> GW of installed capacity - making it one of the largest sugar exporters and one of the world</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest power generators of electricity from sugarcane bagasse. The company plants, harvests and processes sugarcane, the main raw material used in the production of sugar and ethanol. Ra&#237;zen also distributes fuel to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">over</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,300</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> service stations throughout Brazil, Argentina and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Paraguay </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">under the Shell brand, with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">more than 1,300</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Shell Select convenience stores, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">70</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> distribution terminals and presence in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">69</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> airports supplying jet fuel.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Acquired in 2012, Comg&#225;s is Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest natural gas distributor. It has a network of over 19,468 kilometers, bringing natural gas to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">two</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million residential, commercial and industrial consumers in 177 cities. Its concession area accounts for approximately 27% of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s GDP, covering approximately 92 municipalities in the S&#227;o Paulo, Campinas and Santos metropolitan areas and the Para&#237;ba Valley. As of the date of this annual report, Comg&#225;s is part of Compass Gas e Energia, which is the entity through which we intend to structure all our new gas investments and initiatives. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass Gas e Energia also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">acquired </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Sulg&#225;s in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">January </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Sulg&#225;s is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">natural</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> gas concessionaire of the state of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rio Grande do Sul</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> where it has an exclusive concession to operate until A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">u</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gust 2044</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Its networks totaled approximately 1,400 kilometers, delivering natural gas to more than 68</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,000</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> clients in 42 cities,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">distributes a volume of two million cbm/day</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. For additional information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;A. History and Development of the Company.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Through Moove, we produce and distribute automotive and industrial lubricants. Under the Mobil brand, Cosan S.A. operates in Brazil and in nine other countries: Argentina, Bolivia, Uruguay and Paraguay (South America), United States of America, Spain, France, Portugal and the United Kingdom, aligned with its strategy to leverage the ExxonMobil partnership and expand abroad. Under the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comma brand</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Moove also operates in the United Kingdom, selling its products to over 40 other countries in Europe and Asia.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo is Latin America</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest logistics operator, with an independent railway base, and offering a broad range of rail transportation logistics services, port loading and storage. The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">five</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> railway concessions Rumo operates are in the States of Mato Grosso, Mato Grosso do Sul, S&#227;o Paulo and the States of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s south region (Paran&#225;, Santa Catarina, and Rio Grande do Sul). Rumo is a leader in the transport of sugar for exportation and is creating an integrated transport platform that will significantly increase the efficiency of Brazilian exports. In addition, Rumo has merged with ALL, which has made it one of the most important transportation and port operator for grains and other commodities in Brazil. For additional information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;A. History and Development of the Company.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Radar is a land management company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">invest</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in assets with high productive potential in Brazil. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">I</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t owns and manages around 390 rural properties covering a total of 96,000 hectares, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and harvests </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugarcane, soy, cotton, corn and other commodities in the States of S&#227;o Paulo, Maranh&#227;o and Mato Grosso</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which it manages using a satellite-based geomonitoring system</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan S.A. (B3 ticker: &#8220;CSAN3&#8221;) has been listed since 2005 on the B3 segment with the highest standards of corporate governance, the &#8220;Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221; Ra&#237;zen (B3 ticker: &#8220;RAIZ4&#8221;) has been listed on the B3 since August 2021. Comg&#225;s (B3 ticker: &#8220;CGAS3&#8221; and &#8220;CGAS5&#8221;) has been listed since 1997 on the B3. Rumo (B3 ticker: &#8220;RAIL3&#8221;) has been listed since 2015 on the B3, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">also on the &#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221; segment. Our ADSs have also been listed on the NYSE under the symbol &#8220;CSAN&#8221; since March 2021, as a consequence of the Merger</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> primarily </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">operates</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the energy sector and other synergistic activities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen has</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> increasingly consolidated </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">itself</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> as an integrated energy company with a diverse portfolio, from renewable sources such as biomass (and expanding to other sources, such as solar), to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> core businesses of globally distributing and selling first- and second-generation ethanol (from sugarcane), sugar and other by-products to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">enterprise, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B2B</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> customers, in Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Argentina</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Paraguay</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and operating a network of service stations and airport bases. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operations also include proximity retail, through Grupo N&#211;S, a joint venture between Ra&#237;zen and FEMSA Com&#233;rcio.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Prior to the corporate reorganization of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen completed on June 1, 2021, our senior management viewed Ra&#237;zen as two reportable operating segments whereby each of the legal entities (Ra&#237;zen Combust&#237;veis S.A. and Ra&#237;zen Energia S.A.) was considered to be a separate segment. Following the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">corporate reorganization of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen, our senior management started to consider Ra&#237;zen as a single reportable segment.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Accordingly, our previously reported segment information has been recast for all periods presented to reflect the changes in the reportable segments. For further information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Presentation of Financial and Other Information&#8212;Certain Corporate Events&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Consolidation of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221; &#8220;Item 4. Information on the Company&#8212;E. Supplemental Information About Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;Item 5. Operating and Financial Review and Prospects&#8212;Financial Presentation and Accounting Policies&#8212;Business Segments and Presentation of Segment Financial Data&#8221; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Segment Information,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements for the fiscal years ended December 31, 2021, 2020 and 2019, included elsewhere in this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s operations include the production and marketing of ethanol, sugar, gasoline and diesel</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and the cogeneration of energy</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Year Ended December 31,</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in R$ million)</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ethanol</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">27,464.3</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">19,625.1</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20,286.7</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
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<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Sugar Sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">13,946.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">10,241.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,925.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 0.981194%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gasoline</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">55,158.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">36,127.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">46,140.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Diesel</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">71,828.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">46,967.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">51,522.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 0.981194%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cogeneration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,968.9</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,282.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,934.6</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 64.9223%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,288.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,807.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,540.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 0.981194%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; width: 64.9223%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Adjustments and write-offs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 9.97547%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 0pt; padding-bottom: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,607.1</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.96239%; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 9.97547%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 1.96239%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 9.97547%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; width: 64.9223%; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total net operating revenue</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 9.97547%; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">175,047.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 9.97547%; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">118,049.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 1.96239%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 9.97547%; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">129,349.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; width: 0.981194%; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Ethanol, Biomass and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Electricity</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen produces and markets renewable energy and by-products of its bioenergy projects and of third parties, and seeks to expand its operations into other low-carbon energy sources. Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s activities in the renewables segment encompass:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">First-generation ethanol</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: This fuel is used in cars either on its own or mixed with gasoline. It can also be </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">combined</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for industrial applications, including in pharmaceuticals, cosmetics, alcoholic beverages, sanitation and other industries.</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Second-generation ethanol</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: Second-generation ethanol can be used for the same purposes as first-generation ethanol. We are pioneers in producing second-generation ethanol on an industrial scale. We believe that using sugarcane product residues (bagasse and straw), this technology will increase ethanol production capacity by up to 50% from the same acreage.</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Electricity</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen produces electricity from sugarcane waste, and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">expanding into other sources of energy such as solar energy.</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Biogas</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In addition to using sugarcane waste for electric energy production, we produce biomethane using sugarcane residues. Biomethan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is a substitute for methane in various applications</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">.</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Biomass pellets</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pellets solve issues arising from the inefficient logistics of energy-rich biomass. They can be used to replace coal in thermoelectric plants, which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">we believe </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">bodes </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">well </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for a promising international market with strong growth in demand expected in the coming years.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">First-generation ethanol is produced in a chemical process called fermentation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> by which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugarcane used in ethanol production is processed in the same way as for sugar production</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and resulting </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">molasses </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gets</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> mixed with sugarcane juice and yeast in tanks</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">by-product of the fermentation process is then boiled and distilled and/or dehydrated to produce the various types of ethanol.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">also produce</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> second-generation ethanol, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">E2G,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which emits 80% less carbon dioxide than fossil fuels. E2G is a cellulosic biofuel made according to our proprietary technology. The process of making E2G consists of hydrolysis and fermentation of bagasse and straw with enzymes and yeasts. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is a pioneer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in developing carbon circularity </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">form the by-products of its production processes. Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">introduced biogas technology in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> bioenergy parks</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">produced </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">through a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> biodigestion process from vinasse and filter cake, and can be a substitute for methane in its various applications, including in the production of electricity.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen also produces</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> other products derived from sugarcane biomass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> such as the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">steam </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">from </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">excess bagasse</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> boilers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which can be used to move mechanical parts in bioenergy parks as well as to generate electricity sold to the grid.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> able to transport ethanol and sugar production from </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> extensive infrastructure of port terminals and bioenergy parks in the Central-South region of Brazil. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">has</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> terminals connected to the most efficient modes of transportation and strategic positioning in the main ports to export production</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, in addition to having its own teams to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">market production both in Brazil and overseas.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The logistics of delivering pro</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ducts to customers depend on </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the complexity and the potential to capture value by advancing development into the supply chain.</span></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">77</span></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: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition to sugar and ethanol, Ra&#237;zen also sells any excess energy produced from processing sugarcane in its bioenergy parks through energy auctions conducted by the government of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tate of S&#227;o Paulo. Furthermore, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen began advances into the value chain (production, logistics, marketing and refining) by replicating the same model currently applied to its ethanol business.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Sale and Distribution of Fuel</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen produces, distributes and sells fuels and other specialties. Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s primary products include ethanol, gasoline, diesel, vehicular natural gas, kerosene and aviation fuel, lubricants, and oil fuel. In addition, Ra&#237;zen operates proximity retail stores both within and outside service stations, offering consumer products and services like bakeries, tobacco, groceries, hygiene and cleaning products, food products, and beverages.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table presents certain key operating indicators consolidating Brazil, Argentina and Paraguay, for the periods indicated.</span><span style="font-family: 'Times New Roman'; font-size: 11pt;"> </span></p>
<table cellpadding="0" style="height: 155px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<thead>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="5" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Year Ended December 31,</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 65%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Service Stations in Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,300</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">308</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,270</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Fuels sold (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">33,178</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">29,229</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">33,625</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gasoline (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">10,311</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">8,486</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">9,701</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ethanol (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,470</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,691</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,449</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Diesel (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">17,062</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">14,503</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">14,537</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Aviation (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">885</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,139</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,823</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,451</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,313</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,115</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is the largest fuel distributor in Paraguay, and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">second-largest in Brazil and Argentina. Its operations consist of the purchase, storage, mixing and distribution of gasoline, ethanol, diesel and aviation kerosene through a network of over 7,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">00 retail service stations licensed with the Shell brand (over 1,300 of which feature integrated convenience stores), and have recorded consistent year-on-year growth. Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s logistics infrastructure in the segment has been built over more than 100 years, and is strategically located close to major consumer markets. Ra&#237;zen currently has 7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> land distribution terminals, and storage capacity for approximately five billion liters. In the aviation market, Ra&#237;zen operates through </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">69</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> supply bases in Brazilian and Argentinean airports. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen has </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a complete platform focused on B2B2C and B2B customers (B2B</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">C refers to situations in which our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">products go through an intermediary before reaching the final customer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which support its </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">strategic objective to be the preferred choice for resellers and customers (we currently have 96% customer satisfaction level in &#205;ndice 5 and are the best rated brand on ReclameAqui) and the most efficient fuel distributor (in volume per station) in the markets in which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">it</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Since 2017, Ra&#237;zen has invested in increasing the productivity and safety of its partner carriers and reducing logistical costs through the ONE Project, focusing on real-time management of the routes for our entire fuel tanker fleet from a monitoring center. Further, Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s capillarity enables it to reach over 50 million consumers in Brazil, who benefit from Ra&#237;ze</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s investments in the development of innovative payment methods and cloud-based platforms such as Shell Box. As of December 31, 2021, Ra&#237;zen had more than one million active Shell Box users, who carried out approximately 36 million transactions in 2021 and a total payment volume of R$5.4 billion in the year, which represents an increase of approximately two times when comparing December 2021 with December 2020.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moreover, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">store models allow </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">it</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to serve different segments in markets with different characteristics, as well as different profiles and purchase needs. This commercial proposal is leveraged by long-term partnerships with the main fast-moving consumer goods companies, generating new forms of monetization and ensuring better competitiveness for our stores, while transforming our network into a strategic channel to launch and position our products. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">combine</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> this strategy with promotional and marketing activity in all </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">stores.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finally, Ra&#237;zen has over 5,000 customers in the B2B market in Brazil and in Argentina, which are categorized into over 80 different segments (e.g., cargo and passenger transport, agricultural and mining sectors). The B2B strategy is focused on customer loyalty through an offering of premium technology products (such as Shell Evolux, Shell Rimula and Shell Helix portfolios) and carrier fleet control tools. We believe that this strategy, which connects our physical and digital presence, has the potential to create a leading omnichannel platform in the market, in addition to offering financial, procurement, engineering and HSSE solutions for our customers.</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">78</span></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Suga</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">r</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen produces and markets a variety of sugars from our bioenergy projects and from third parties, such as raw sugar (or very high polarity sugar, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">VHP</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), refined sugar and liquid sugar.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table details </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">energy</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and suga</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">r</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> production</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<thead>
<tr>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="5" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Year </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ended </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
</tr>
<tr>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
</tr>
</thead>
<tbody>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 65%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Crushed sugarcane (million tons)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">54.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">61.4</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">59.8</span></p>
</td>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Volume of sugar sold (thousand tons)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,758.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,183.8</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,417.5</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Volume of ethanol sold (million liters)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,453.0</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,001.4</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,229.4</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Energy sold (thousand MWh)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">21,253.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">18,347.5</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28,541.6</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Sugarcane is the main raw material used in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">bioenergy parks. It is a photosynthetic metabolism plant which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">has four essential attributes: (1) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugarcane is best suited to convert solar energy into biomass when compared to other crops with which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">products compete;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;(2) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugar is the basis for a diversified product portfolio, which includes sustainable foods, biofuels, bioelectricity and bioproducts or biomaterial. This is consistent with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">strategy, which includes:</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Bonsucro</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ELO</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Raw Materials</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Deforestation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; (3) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">low carbon footprint in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> products due to circularity and waste optimization</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; and (4) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">high levels of productivity in the Brazilian Central-South region, due to certain natural characteristics of the region (including soil, climate and other factors), combined with access to logistical infrastructure for the outflow of production.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen received the Bonsucro certification for its bioenergy parks, and became responsible for a large portion of sugarcane certified under this model globally. In addition to the Bonsucro certification, Ra&#237;zen has led the creation of an innovative program in the sugar and ethanol industry, the ELO program, which provides a system of continuous improvement and technical assistance to third-party sugarcane suppliers. Generating shared value within our raw material supply chain is an important part of our business. In connection with the</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> ELO</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> program, our </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cultivar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> program offers solutions to its partner producers across their business life cycles. These producers accounted for approximately 80% of all the sugarcane purchased for the 2021/2022 harvest. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result of the circular nature of the sugarcane production process, sugarcane-derived products have a low carbon footprint, and can therefore serve as substitutes for fossil and/or products with high environmental impact. For example, consistent with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Bonsucro certification, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">operation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> cause no deforestation, and all of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> raw materials are subject to sustainability programs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s sugar production encompasses a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">three-step process: (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugarcane is processed for juice extraction; (ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the product is filtered to remove impurities and boiled to crystallize sugars; and (iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the product is passed through a centrifuge for the production of the final product, raw sugar or VHP. This can then be refined, dried and packaged in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">refineries. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">This process is routinely optimized through </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">proprietary technologies support</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ing</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> decisions and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">driving </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> business.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Regulation</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Regulation of the Oil and Gas Industry</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Brazil</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ANP</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is a federal agency responsible for the control, supervision and implementation of the government</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s oil, gas and biofuel regulations. The ANP regulates all aspects of the production, distribution and sale of oil, natural gas, and biofuels products in Brazil. With respect to regulation relating to gasoline, diesel and biofuels, the ANP determines: (i) standards and restrictions applicable to the companies which it regulates; (ii) the product quality standards and minimum storage capacities required to be maintained by distributors; (iii) the limits of oil-based fuel volume purchased by distributors based on their storage capacity; and (iv) requirements for the construction, operation and usage of the infrastructure used to handling and storage of fuels.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental health and safety standards.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Fuel distributors are subject to Brazilian federal, state and municipal laws and regulations relating to environmental protection, safety and occupational health and safety, licensing by fire departments, environment and transport authorities. The National Environmental Council (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Conselho Nacional do Meio Ambiente</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CONAMA,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is the main government body responsible for issuing environmental standards and regulations at the federal level. Environmental state agencies and municipal departments are also responsible for establishing and supervising complementary laws and regulations within their areas of operation.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Fuel distributors must obtain authorizations and/or licenses from federal, state and/or municipal environmental agencies and fire departments to implement and operate their facilities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and are subject to extensive </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">registration and operational requirements</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> res</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ulting in certain limitations to, among others, the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(i) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">distribution of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">liquid fuels; (ii) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">distribution of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">aviation fuels; (iii) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">liquid and aviation fuels storage; (iv) liquid products storage and handling; and (v) ethanol production</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Furthermore, fuel distributors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> are required to develop programs to control air, soil and water pollution, including management of hazardous waste.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Port Regulation.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The Brazilian port sector is regulated by (1) the National Water Transportation Agency (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ag&#234;ncia Nacional de Transportes Aquavi&#225;rios</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ANTAQ,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which is linked to the Brazilian Ministry of Infrastructure (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Minist&#233;rio da Infraestrutura</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ministry of Infrastructure,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (2) the National Secretariat of Ports (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Secretaria Nacional de Portos</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">SNP,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which is also linked to the Ministry of Infrastructure, and (3) local port authorities. Since 2012, the Brazilian port sector has undergone a number of regulatory changes, including the enactment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of Federal Law No. 12,815/2013</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, as amended by Law No. 14,047, dated August 24, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(regulated by Decree No. 8,033/2013). One of the most important changes brought about by this new regulatory framework is the abolition of the distinction between </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">own cargo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">third-party cargo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for the development and operation of private use terminals, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">TUPs.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; Authorizations to operate TUPs are granted by authorizations preceded by public calls (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">chamadas p&#250;blicas</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) or public announcement (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">an&#250;ncio p&#250;blico</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) and, as applicable, a public bidding procedure.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, the operations of Ra&#237;zen Argentina are subject to regulation pursuant to Argentine federal, state and municipal laws and regulations relating to fuel distribution, environmental protection, safety, occupational health and safety, environment and transport matters.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Argentina</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The oil and gas industry in Argentina is regulated by Law No. 17,319/1967, as amended by Law No. 26,197/2007 and Law No. 27,007/2014, which sets forth the general legal framework for the exploration, development, industrialization, transportation and marketing of hydrocarbons in Argentina. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Hydrocarbon resources are severable from the general ownership of property. According to the Argentine Constitution, as amended in 1994, natural resources, including hydrocarbon reserves, belong to the provinces in which they are located. However, the Argentine Constitution empowers the Argentine National Congress to legislate on hydrocarbon matters.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Transfer of ownership of hydrocarbon reserves and resources from the federal domain to the provinces was implemented through the enactment of the several legal provisions that effectively amended Law No. 17,319, including by means of Law No. 26,197. The reserves and resources transferred pursuant to Law No. 26,197 were those located in the provinces and in territorial waters up to 12 nautical miles from a baseline, which in Argentina is the mean low-water line along the coast. In addition, with Law No. 26,197 the enforcement of the exploration permits and production and transportation concessions granted by the Argentine federal government over the hydrocarbon reserves and resources prior to the law was transferred to the provinces.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Secretariat of Energy of the Ministry of Economy (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ministerio de Economia</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or &#8220;SE,&#8221; is the federal enforcement agency responsible for the control, supervision and implementation of the Argentine government&#8217;s oil, gas, and biofuel regulations. The SE regulates all aspects of the production, distribution and sale of oil, natural gas, and biofuels products in Argentina. With respect to regulation relating to gasoline, diesel oil and biofuels, the SE determines the product quality standards and storage requirements (SE Resolution No. 1,283/2006). </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Hydrocarbon-refining activities are subject to Law No. 13,660/1949, which provides the basic regulatory framework for these activities, whether conducted by oil producers or third parties, and to registration requirements established by the SE (SE Resolution No. 419/1998). In addition to federal rules, refining activities must comply </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">with provincial and municipal regulations on technical and safety standards. Decree No. 1,212/1989 established a Refineries and Gas Station Price Deregulation Policy. Moreover, the locations where liquid fuels are sold are subject to registration requirements established by Resolution No. 1102/2004, enacted by the SE.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The export of crude oil, natural gas and their derivatives is subject to prior governmental approval. The import of crude oil and liquid fuels also requires prior governmental approval. Law No. 26,050 establishes the legal framework for the industrialization and commercialization of liquid petroleum gas. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Port Regulation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Argentinean port sector is regulated by Law No. 24,093 and Decree No. 769/1993. This legal framework regulates all matters related to the authorization, administration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and operation of existing and to-be-created state-owned and private ports in Argentina. The regulation classifies ports according to their ownership into national, provincial, municipal</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and privately</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">owned, and according to their purpose into commercial, industrial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and recreational. It also contains the conditions and requirements for authorizing ports. The Argentine ports regulation also provides that private individuals may build, administer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and operate public or private ports for commercial, industrial or recreational purposes, on public land or on their own property, and requires that the fees, prices and other consideration paid by users be strictly proportional to the service provided.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental Health and Safety standards</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Provinces have the power to legislate as to and regulate environmental matters. Provincial environmental regulations must set standards equal to or higher than those approved by the Argentine National Congress. Most of the hydrocarbon-producing provinces have issued specific environmental regulations for the oil industry, including on unconventional operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Legislation Applicable to Fuel Distributors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Fuel distributors are subject to Argentine federal, state and municipal laws and regulations relating to environmental protection, safety and occupational health and safety, environment and transport authorities. The Argentine Ministry of Environmental and Sustainable Development (Ministerio de Ambiente y Desarrollo Sostenible) is the government agency primarily responsible for issuing environmental standards and regulations at the federal level. Law No. 25,675 sets out minimum standards for the adequate and sustainable management of the environment, the preservation and protection of biodiversity and the implementation of sustainable development. Fuel distributors must obtain authorizations and/or licenses from federal, state and/or municipal environmental agencies to operate their facilities. They are required to develop programs to control air, soil and water pollution, including to manage hazardous waste in accordance with Law No. 24,051, which contains the regulatory framework on the generation, handling, transportation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and treatment of hazardous waste.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Regulation of Sugar, Ethanol and Cogeneration Activities</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is subject to several Brazilian federal, state and municipal environmental protection and health and safety laws and regulations governing, among other things, the generation, storage, handling, use, transportation and discharge of hazardous materials into the ground, air and water as well as regulation concerning electricity generation. Below is a summary of the principal rules and regulations to which Ra&#237;zen is subject</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in this regard</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Permits </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certain environmental laws require us to obtain from governmental authorities permits, licenses and authorizations to install and operate our mills, to burn sugarcane and to perform other activities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are subject to the regulations of the pollution control and remediation agencies of several Brazilian states, such as:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Environmental Company of the state of S&#227;o Paulo (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Companhia Ambiental do Estado de S&#227;o Paulo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;CETESB);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Environmental Agency of the State of Goi&#225;s (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Secretaria de Estado de Meio Ambiente e Desenvolvimento Sustent&#225;vel</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;SEMAD); and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Environmental Institute of the state of Mato Grosso do Sul (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Instituto de Meio Ambiente do Mato Grosso do Sul&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IMASUL).</span></li>
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<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental Licensing of Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We operate mills, transport facilities and numerous warehouses. CONAMA is the government agency responsible for issuing rules and resolutions on environmental licensing at a national level. Environmental licensing is required for the development of new facilities and for alterations in existing operations. Environmental licenses must be periodically renewed.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sugarcane Burning</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The state of S&#227;o Paulo and certain municipal governments have established laws and regulations that limit or eliminate the burning of sugarcane entirely. We have voluntarily signed the Agro-Environmental Sugarcane Protocol, which establishes accelerated deadlines for the reduction of sugarcane burning.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Brazilian Forestry Code</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are subject to the Brazilian Forest Code, which prohibits land use in certain permanently protected areas, and obligates us to maintain and register a forest reserve in each of our rural landholdings covering from 20% to 80% of the total area of such land, known as </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Legal Reserve.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental Liabilities</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are involved in certain administrative and judicial proceedings for alleged failure to comply with environmental laws and regulations (especially relating to environmental damages caused by sugarcane burning and contaminated areas). The Brazilian Federal Constitution provides for three different types of environmental liabilities: (1) civil, (2) administrative and (3) criminal. Noncompliance with environmental law is subject to administrative, civil and/or criminal sanctions, regardless of the civil impacts such as the obligation to repair, compensate or indemnify any damages caused to the environment or third parties. Public attorneys</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> offices, foundations, state agencies, state-owned companies and environmental protection associations are all authorized by law to file public civil actions seeking compensation for environmental damages.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sugar Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The MAPA is responsible for planning, coordinating, monitoring and assessing the implementation of governmental initiatives and programs related to the production of sugarcane and ethanol. All sugarcane processing mills must be duly registered with SAPCana (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sistema de Acompanhamento de Produ&#231;&#227;o Canavieira</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), a system created and maintained by the MAPA that registers all sugar and ethanol producing mills and ethanol trading companies and monitors the production of sugarcane, sugar and ethanol in Brazil. All registered mills must regularly submit (online) reports about the production, output and inventory of sugar and ethanol, in accordance with Normative Instruction No. 52, of November 12, 2009 (the regulation that created SAPCana). Noncompliance with the rules established under the aforementioned Normative Instruction may subject us to suspension or cancellation of the registration in SAPCana until irregularities are resolved.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ethanol Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian ethanol industry is also regulated by the ANP, a federal agency linked to the Ministry of Mines and Energy (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Minist&#233;rio de Minas e Energia</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">MME.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> On April 29, 2011, a provisional measure was published in Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Official Gazette, or the Provisional Measure No. 532/11, that changed the status of ethanol from an agricultural product to a fuel. Previously, the ANP was only responsible for the oversight of the distribution and sale of ethanol. Since the publication of Provisional Measure No. 532/11, converted into law on September 16, 2011 as Law No. 12,490/11, the agency then became responsible for the supervision of mills producing sugarcane-based biofuel. In accordance with Law No. 12,490/12, and in order to regulate the ethanol industry, the ANP published Resolution No. 734 of June 28, 2018, pursuant to which the production of ethanol, which involves construction, capacity expansion, modification and operation of ethanol production plants, became subjected to prior authorization of the ANP.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The performance of an activity without the proper authorization or with an expired authorization issued by the ANP may subject us to the following penalties, among others: (1) fine (from R$50,000 to R$200,000); (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prohibition on performing such activity while the company is not in conformance; (3) temporary suspension of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">all or part of the site or operation of the facility; or (4) annulment of the company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s registration, pursuant to Law No. 9,847/99, of October 26, 1999. These penalties may be applied cumulatively.</span></p>
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<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Electricity Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian power industry is regulated by ANEEL, a federal regulatory agency, in accordance with the general guidelines set forth by the Ministry of Mines and Energy. In order to perform power generation activities, the power agent must obtain authorizations granted by ANEEL or execute concession and permission agreements with the Brazilian government through ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which can be terminated before their original term upon the occurrence of certain events</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The activities related to generation and commercialization of electricity performed by Ra&#237;zen are subject to ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s supervision. Pursuant to Law No. 9,427 dated December 26, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1996 and ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Resolution No. 846/2016, within the scope of its powers of inspection of electrical energy plants and services,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ANEEL may impose penalties (including warnings, fines, temporary suspension of the right to participate in bidding </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">processes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for new concessions, licenses or authorizations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or request for new</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">grants, licenses or a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">u</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">thorizations,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and revocation of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">existing</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">authorizations or concessions granted by ANEEL) on power industry participants based on the nature of its relation with the agency (concessionaires or agents who hold permission or authorization) and the materiality of the infraction. In case of fines, the limit of 2.0% of the revenue of the concessionaire in the 12-month period preceding any assessment notice must be respected or, for independent producers or self-producers (authorized agents), 2.0% of the estimated amount of energy produced in the same period. In addition, pursuant to ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Resolution No. 846/2019 some infractions may result in fines related to the failure of the agent in requesting ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s prior approval to certain conduct, including the following:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">entering into certain related party transactions, pursuant to ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Resolution No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">948</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">/20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">21</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">sale or assignment of the assets related to services rendered as well as the imposition of any encumbrance (including any security, bond, guarantee, pledge and mortgage) on them or any other assets related to the concession or permission, or the revenues of the electricity services;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">changes in corporate control of the holder of the authorization, permission or concession, as per terms of ANEEL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Resolution No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">948</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">/20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">21</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">as applicable, submit to ANEEL projects of electric works and plants and their modifications, as well as proceed with its execution in disagreement with the project approved and with the established scheduled.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Furthermore, if a power generator</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s fuel suppliers are either unable or unavailable to comply with their respective contractual obligations, in whole or in part, the power generator may face (1) a default of its regulatory duties, (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a temporary reduction of its allotted energy generation capacity, and (3) difficulties in maintaining assets or projects. Finally, if power generators lack fuel, they may be subject to fines under ANEEL Resolution No. 583/2013, as applicable.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and its subsidiaries also operate in the distributed energy generation segment, wherein projects enjoy the benefits of ANEEL Normative Resolution No. 482/2012, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution 482</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> &#8211; in particular, an exemption from charges on the transmission a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nd distribution of electricity. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian National Congress recently instituted a new legal framework for the micro and small-size distributed generation sector in Brazil. As a result of the enactment of Law No. 14,300, both ANEEL and electricity distributors must adapt their rules, regulations, procedures and processes to the new guidelines within 180 days after its publication.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to Law No. 10,84</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, dated March 15, 2004, the purchase and sale of electricity operations are carried out in two different market segments: (i) the regulated contracting environment, which houses the purchase by distributors, through auctions, of all the electricity that is necessary to supply its consumers, and (ii) the free contracting environment, which houses the purchase of electricity from other CCEE agents (such as electricity generators and traders). Energy sector agents are also subject to the payment of sector charges and fees for the use of the transmission or distribution system, as applicable.</span></p>
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<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Controlled Substances</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certain laws and regulations require us to obtain from governmental authorities permits, licenses and certificates to use controlled substances in our activities. Decree No. 10,030, dated September 30, 2019, regulates </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Army</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s control over explosive substances and establishes that those who manufacture, store or sell such substances are required to obtain a registration certificate, which must be periodically renewed. Law No. 10,357, dated December 27, 2001, sets forth that those who manufacture, store, handle, use and distribute chemical substances, which could be employed in the manufacture of narcotics or psychotropic substances, are subject to control by the Federal Police Department and shall obtain the required certificates, which must be periodically renewed. In parallel, state legislation empowers each state</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s respective Civil Police to grant licenses for use, storage, marketing, importation and exportation of certain chemical products, usually consisting of an inspection certificate and an operating license. Sanctions that can be imposed in cases of noncompliance with the applicable regulations concerning controlled substances include notices, fines, pre-interdiction fines, interdiction, apprehension of products, suspension, and cancellation or forfeiture of the corresponding certificates and licenses.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sanitation Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The food industry is subject to the rules set forth in Decree No. 986, dated October</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">21, 1969, and is regulated by the National Agency of Health Surveillance (Ag&#234;ncia Nacional de Vigil&#226;ncia Sanit&#225;ria), or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ANVISA,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> an independent federal regulatory agency, in accordance with the general guidelines set forth by the Ministry of Health, and by the MAPA. The requirements for classification, identity, quality and labeling applicable to sugars for human consumption are established by the MAPA Normative Instruction No. 45, dated August 30, 2018, and the ANVISA Resolution No. 271, dated September 22, 2005. Activities related to the production and selling of standard sugars for human consumption are subject to local sanitary authorities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> licensing. Law No. 6,437 dated August 20, 1977, as amended, governs the imposition of sanctions for players in the food sector, which include notices, fines up to R$1,500,000 (which may be doubled in cases of repeated penalties), production and/or sales prohibition, facilities interdiction, revocation of the facilities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> sanitary permit, and seizure and/or destruction of products.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Overview</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 14, 2020, we contributed to the share capital of our wholly owned subsidiary </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, formerly known as Distribuidora de G&#225;s Participa&#231;&#245;es S.A., the totality of the shares we held in Comg&#225;s (i.e., 103,699,333 common shares and 27,682,044 preferred shares), equivalent to 99.15% of the total share capital of Comg&#225;s, for an amount of R$2,862 million. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As the parties to the transaction are under common control transaction, there was no effect on our consolidated financial statements. We derecognized the investment in Comg&#225;s and we recognized an investment in Compass for the same amount</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On March 9, 2020, we announced the creation of &#8220;Gas and Power,&#8221; our new gas and power business segment of which Compass is the holding company and through which we now conduct our activities in the gas and power market. Our financial condition for the historical periods prior to January 1, 2020 discussed in this annual report does not reflect the creation of our Gas and Power segment, which was completed in 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. On January 3, 2022, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> subsidiary Compass Um Participa&#231;&#245;es Ltda. concluded the acquisition of 51% of the capital stock of Sulg&#225;s, assuming the control of Rio Grande do Sul</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s gas supply concessionaire. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s subsidiary, Comg&#225;s, is Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest distributor of piped natural gas, with a network reaching 19,468 kilometers and delivering natural gas to more than two million residential, commercial and industrial consumers in about </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">177</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> cities. The Comg&#225;s concession area covers approximately 27% (according to the IBGE) of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s GDP, including 92 municipalities in the metropolitan areas of S&#227;o Paulo, Campinas and Santos as well as the Para&#237;ba Valley.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In October 2021, Compass Um Participa&#231;&#245;es, a subsidiary of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, submitted the winning bid in Auction </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">01/2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, held at the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B3 &#8211; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brasil, Bolsa, Balc&#227;o stock exchange </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the acquisition of the stake of 51% of Sulg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">capital, owned by the Government of the State of Rio Grande do Sul. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Sulg&#225;s&#8217;s distribution network totals approximately 1,400 km, serving over 68,000 customers in 42 cities,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and distributes a volume of two million cbm/day</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The investment amount for this acquisition was R$955</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2 million. T</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he acquisition was concluded on January 3, 2022. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We believe the prospects for future availability of natural gas in Brazil are positive based on expected exploration of carbon deposits discovered in the pre-salt layer offshore of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s coast. Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s supply of natural gas is currently sourced primarily from Petrobras, with contracts in Bolivia and Brazil having been entered into. Our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">natural gas supply agreement with Petrobras </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">will expire in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2027. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8211;&#8211;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Business, the Operations of Our Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and Industries in Which We Operate&#8212;Our business would be materially adversely affected if operations at our transportation and distribution facilities experienced significant interruptions. Our business would also be materially adversely affected if the operations of our customers and suppliers experienced significant interruptions.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> Highlights</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2019</span></p>
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<p style="margin: 0pt 3.3pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Natural gas sold (million cbm)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,859.0</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,229.4</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,512.4</span></p>
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<p style="margin: 0pt 3.3pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net sales (R$ million)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">12,330.2</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">9,093.2</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">9,514.2</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ANP</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is responsible for the control, supervision and implementation of the government</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s oil, gas and biofuel policies. The ANP is responsible for regulating all exploration, production and importation activities with respect to the gas sector, as well as for regulating the gas transport sector.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition to the regulation by ANP, Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s activities are also supervised and regulated by ARSESP, with which it maintains continuous dialogue through its directorate for Regulatory and Institutional Affairs in order to enhance or formulate industry policies.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid; text-indent: 8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: normal;">Concessions and Authorizations</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the Brazilian Federal Constitution of 1988, it is the responsibility of the State to provide, directly or through concessions, piped gas services. Concessions are formalized through concession agreements. Our subsidiary Comg&#225;s is the concessionaire for the public distribution of natural gas for part of the State of S&#227;o Paulo pursuant to Decree No. 43,888, of March 10, 1999, or Decree No. 43,888/99, and concession agreement No. CSPE/01/99, entered into on May 31, 1999 with the State of S&#227;o Paulo (as amended), which at the time was represented by the Public Energy Services Commission of the State of S&#227;o Paulo, and has since been replaced by the ARSESP.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The concession agreement was originally set for a 30-year term, which was renewed for an additional 20 years at the discretion of the government of the state of S&#227;o Paulo considering that Comg&#225;s is in compliance with all of its tax, social security and other legal and regulatory commitments and obligations. In September 2019, Comg&#225;s submitted an extension request for the concession to the SIMA, as provided for in the concession agreement. On October 1, 2021, the 7</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">th</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Amendment to the Concession Agreement No. CSPE/01/99 was signed, extending the concession agreement until May 30, 2049.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the concession agreement, Comg&#225;s has the right to distribute and commercialize piped gas to customers until 2049 and in a concession area comprisi</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ng 177 citie</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s in the State of S&#227;o Paulo. Comg&#225;s is also authorized to carry out other business activities, provided that (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">it obtains prior authorization from the ARSESP; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">such activities do not interfere with Comg&#225;s&#8217;s main activity; and (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the revenues from such activities are accounted for separately. In addition, any change in the bylaws of Comg&#225;s resulting in a transfer of shares or a change of control requires the prior approval of the ARSESP.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The concession agreement sets out Comg&#225;s&#8217;s obligations, including, with respect to quality and safety, the five-year tariff review procedures. CSPE Ordinance No. 160/01 established the general conditions for the supply of piped gas and was replaced by the ARSESP Resolution No. 732 in August 2017. The concession agreement provides for three types of tariff review/adjustments, namely (1) the five-year cycle tariff review; (2) the annual adjustment as of December 10 of each year of the average margin using the IPCA/IBGE; and (3) extraordinary revisions to the extent there are significant cost variations, in order to reestablish the economic and financial balance of the concession.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On December 6, 2019, ARSESP published Resolution No. 933, which approved the amount of R$683.4 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">plus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">monetary adjustment since April 2018, as a result of the Third Ordinary Tariff Review, to be applied to the value of the assets returned by Comg&#225;s upon termination of the concession, or to any amounts payable by Comg&#225;s if the concession is renewed, or to any amounts payable in connection with any renewal of the concession agreement, as it comes to be defined by ARSESP, according to Resolution No. 995 of May 27, 2020. With the publication of the aforementioned resolution, there are no more ongoing discussions regarding tariffs related to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">previous periods with ARSESP. The amount indicated in Resolution No. 933 was not recognized in our financial statements because it does not comply with accounting standards.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">To the extent Comg&#225;s fails to comply with its obligations under the concession agreement, it will be subject to penalties of up to 2% of its annual revenues, and the granting authority may terminate the concession or take control of the concession to ensure the adequate provision of the piped gas distribution services.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The concession agreements may be terminated as a consequence of: (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">expiration of the contractual term; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">expropriation of the concessions in the public interest (i.e., </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">encampa&#231;&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">); (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">forfeiture (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">caducidade</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">); (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">termination; (5) annulment of the concession agreement to the extent irregularities in the bidding process or the granting of the concession are identified; or (6)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the bankruptcy or expiration of Comg&#225;s.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Authorizations to carry out public works in the concession area are obtained from the relevant municipality.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our subsidiary Sulg&#225;s is the concessionaire for the public distribution of natural gas in the state of Rio Grande do Sul pursuant </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a concession agreement signed on April 19, 1994. The concession agreement is for a 50-year term.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid; text-indent: 8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: normal;">Electricity Generation and Sale</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The energy sector is regulated by Law No. 10,848, of March 15, 2004, as amended, or the New Electricity Sector Model Law, and has the following three objectives: (1) guarantee electricity supply security; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">promote low tariffs through the efficient contracting of electricity; and (3) promote universal access to electricity.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Electricity must be purchased and sold in accordance with the provisions of the New Electricity Sector Model Law. The volume of electricity sold by producers at the CCEE must be electricity that has been generated by such producers at their own plants and/or must be electricity that has been purchased through Energy Purchase and Sale Contracts, or &#8220;CCVEs.&#8221; Agents who fail to comply with these requirements will be subject to penalties imposed by the ANEEL and CCEE.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to Decree No. 5,163, of July 30, 2004, which regulates the sale of electricity and the granting of electricity generation concessions and authorizations, energy producers, distributors and transmitters, as well as independent energy producers and free or regulated customers, are required to submit an annual declaration of their electricity requirements by August 1 of each year in which they inform the MME of their market forecast for the next five years. Based on these projections, the MME organizes electricity purchase auctions to meet the needs of all distribution companies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The New Electricity Sector Model Law introduced changes to existing guidelines and the rules applicable to the sale of electricity in Brazil, including: (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the creation of two trading environments for electricity: the regulated market and the free market; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">changes in criteria applicable to bidding processes criteria, from a highest payment to lowest rate basis; (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">requirements for distribution companies to bid in public auctions for contracts covering 100% of their demand for energy; (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">separation of energy generation, distribution, commercialization and transmission activities, to ensure that distribution companies focus only on distributing electrical energy; (5)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">controls in transactions with related parties, including barring sales of energy from generation companies to affiliated distribution companies, unless sold through auctions; (6)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">creation of regulatory agencies to oversee and enforce regulations; and (7)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">creation of programs for the universalization of electricity.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Electrical Energy Trading Chamber &#8211; CCEE</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Law No. 10,848/2004 created the Electric Power Trading Chamber (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">C&#226;mara de Comercializa&#231;&#227;o de Energia El&#233;trica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or &#8220;CCEE.&#8221; The CCEE is a private non-profit entity that is regulated by the ANEEL. Under the New Electricity Sector Model Law, the CCEE consists of holders of concessions, permits or authorizations, other agents associated with electricity services and facilities, and free-market consumers.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The CCEE&#8217;s key responsibilities include: (1) recording the volume of all energy trading contracts between buyers and sellers; (2) keeping accounts of and settling the difference between amounts contractually agreed and amounts actually generated or consumed by market agents; and (3) calculating the PLD used for short-term market transaction values. Since 2018, the CCEE has also been responsible for operating energy surplus disposal mechanisms.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The CCEE&#8217;s board consists of five members: comprised of a chair designated by the MME, and four members representing generation, distribution and trading entities and sector agents as a whole.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">National Electrical Energy Agency &#8211; ANEEL</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The ANEEL is an autonomous federal agency whose main responsibility is to regulate and supervise the electricity sector in accordance with the MME and federal government policies. The ANEEL is responsible for, among others: (1) inspecting electricity generation, transmission and distribution concessions, including the approval of electricity tariffs; (2) issuing regulations; (3) implementing and regulating the exploitation of energy sources, including the use of hydroelectric electricity; (4) coordinating the bidding process for new concessions; (5)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">arbitrating administrative disputes between electricity generating entities and buyers; and (6) establishing criteria and methodologies for calculating transmission tariffs.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid; text-indent: 8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: normal;">The Gas Law</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The natural gas industry is regulated by Law No. 14</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">134, of April 8, 2021, as amended, or the New Gas Law. This New Gas Law revoked the Law No. 11</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">909, of March 4, 2009, and has set a new regulatory framework for the exploration of the economic activities in the natural gas market. In addition, Decree 10</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">712, of June 2, 2021, regulated Law No. 14</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">134, detailing some relevant subjects to the new legal framework for Brazil&#8217;s natural gas market.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> responsible for the manufacturing and distribution of passenger vehicle lubricants, commercial vehicle lubricants, industrial lubricants and special application products such as greases, cutting oils and car care products under the Mobil brand, operates in Brazil and in nine other countries: Argentina, Bolivia, Uruguay, Paraguay, the United States of America, Spain, France, Portugal and the United Kingdom. This is in line with Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s strategy of leveraging the ExxonMobil partnership and expanding abroad. Under the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comma</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> brand, Moove also operates in the United Kingdom, selling its products to over 40 other countries in Europe and Asia.</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">As of and for </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">the</span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fiscal Year Ended</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December&#160;31, <br/>2021</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December&#160;31, <br/>2020</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December&#160;31, <br/>2019</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">V</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">olume </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of lubricants sold </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(thousand </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">liters</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">388.7</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">398.4</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">397.7</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net sales (R$ millions)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,112.5</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,415.6</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,046.3</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> We have two production plants, one in Rio de Janeiro, Brazil, which is the biggest plant of the business, with annual production capacity of about 400 million litres per year, licensed under the Mobil brand in the Americas, Comma in Asia, and both brands in Europe, and another one in Gravesend, England, with annual production capacity of about 70 million litres per year. We produce over 220 different lubricants, and purchase more than 600 types of raw materials, including packaging, base oils and additives. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We sell our lubricant products, mainly through distributors and direct sales to industrial customers, as well as to wholesale customer accounts and car and motorcycle dealerships.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We have distribution rights for Mobil brand products in Bolivia, Paraguay and Uruguay following the purchase of ExxonMobil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s lubricant distribution business in these three countries in 2011.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In July 2012, we acquired Moove Lubricants, which reinforced our strategy to enter into the European lubricants and specialties markets. As a result, we acquired finished lubricants and the manufacture and sale of chemicals to third parties, all of Moove Lubricants</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> assets at the Gravesend site in Kent, England, United Kingdom, as well as ownership of Moove Lubricants</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> trademarks and brand names. In addition, there are agreements in place allowing Moove Lubricants to distribute select Mobil-brand lubricants into specific sales channels in the United Kingdom and to continue to manufacture and distribute a range of seasonal and ancillary automotive products to ExxonMobil and other Mobil distributors in Europe and Asia.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Since December 2016, Moove has had distribution rights for Mobil brand products in Spain and, more recently, in the United Kingdom, France, Portugal and the United States of America. Since December 2018, Moove has had distribution rights for Mobil-branded products in Argentina.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our lubricants business is not subject to significant seasonality. However, a significant proportion of our raw material purchases are invoiced in U.S. dollars and we hedge part of our shipments of base oils against variations in exchange rates.</span></p>
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<p style="margin: 10pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove is subject to substantially the same regulation by the same regulatory bodies to which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our fuel distribution business </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is subject. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Regulation of the Brazilian Oil and Gas Industry</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Overview</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our logistics operations are conducted through Rumo, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which offers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> an integrated logistics solution to many sectors, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">but primarily </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to agricultural commodity producers </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">across Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> connecting the main producing regions with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s three main ports. Rumo also offers warehousing services. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table sets </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">forth </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">certain financial and other information of Rumo for the periods indicated:</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Logistics Highlights:</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;"><br/></th>
<th colspan="5" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 31px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">As of and for </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">the</span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fiscal Year Ended</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Transported volume (million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">TKU)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 10%; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">64,028.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 2%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">62,458.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 2%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">60,096.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Port elevation volume (thousand</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tons)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">12,493.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">14,446.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">11,211.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">North operations (R$ million)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; background-color: #cceeff; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,479.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,270.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,313.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">South operations (R$ million)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,624.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,409.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,478.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; page-break-after: avoid; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Container operations (R$ million)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px;">
<p style="margin: 0px; padding-bottom: 1pt; break-after: avoid; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">336</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">285.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">295.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: 8.2pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net sales (R$ million)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7,439.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6,966.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7,087.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Following Rumo&#8217;s merger with ALL which was completed on April 1, 2015, Rumo has expanded its offering of logistics services, including, among other things, by providing port handling services. Furthermore, Rumo acquired control of ALL&#8217;s former concessions which include the main railroads between the sugar and grain producing areas of the central-south region of Brazil and the ports of Santos, Paranagu&#225;, S&#227;o Francisco and Rio Grande. As a result, Rumo now operates in the states of Mato Grosso and S&#227;o Paulo as well as the southern region of Brazil where four of the most active ports in the country are located and through which most of Brazil&#8217;s grain production is exported. Moreover, Rumo started operating 12 main inland terminals, either directly or through partners. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">For further information, see &#8220;&#8212;A. History and Development of the Company.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The transportation of agricultural commodities, primarily for export, represented approximately 81%, 81% and 82% of Rumo&#8217;s transported volume in the fiscal years ended December 31, 2021, 2020 and 2019, respectively. The transportation of industrial products represented approximately 19%, 19% and 18% of Rumo&#8217;s transported volume in the same periods, respectively. Rumo&#8217;s transported volume derived from the transportation of grains (soybean, corn and soybean meal) represented 66%, 68% and 71% in the fiscal years ended December 31, 2021, 2020 and 2019, respectively.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo also provides intermodal transportation logistics services, which is the movement of freight via container using two or more modes of transportation (generally rail and truck). We believe that these methods of transportation reduce the costs of cargo handling, because containers are typically consolidated from trucks onto trains or ships that can carry mass loads, allowing for fuel efficiency.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Operational Segments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo conducts its operations through three segments that correspond to the main ma</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rkets in which it operates: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the north operations business segment, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Northern Operations,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> comprising the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Norte</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Central </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rail concessions, Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s transshipment terminals located in the states of Mato Grosso and S&#227;o Paulo, and i</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ts port operation in Santos, (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s south operations business segment, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Southern Operations,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> comprising the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul rail concessions and Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">transshipment terminals located </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the state of Paran&#225;, and (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s container operations business segment, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Container Operations,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> comprising the operations of Brado Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which focuses on container logistics, whether by rail or road transport, and the results of container operations on the networks</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">88</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below shows Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s net sales by segment as well as a percentage of total net sales for the periods indicated:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 109px;" width="100%">
<thead>
<tr style="height: 10px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="11" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">As of and for </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">the&#160;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fiscal Year Ended</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></th>
</tr>
<tr style="height: 10px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 20</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">19</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="11" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in R$ millions, except percentages)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 29%; background-color: #cceeff;">
<p style="margin: 0pt 3.6pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Northern Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,479.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">73.7%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,270.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">75.7%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,313.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">75</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.0%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 3.6pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Southern Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,624.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">21.8%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,409.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20.2%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,478.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20.9%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 3.6pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Container Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">336.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">285.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.0%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">295.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7,439.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7</span><span style="background-color: #ffff00; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">100%</span><span style="background-color: #ffff00; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6,966.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">100%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7,087.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">100%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Major Customers</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The majority of the cargo Rumo transports is for the agricultural commodities industry. Rumo&#8217;s major clients are export companies participating in this market, such as Bunge, Cargill, ADM, COFCO, Louis Dreyfus and Amaggi. In the fiscal year ended December 31, 2021, Bunge accounted for 9.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Rumo&#8217;s total net revenue from services, while Rumo&#8217;s six major clients accounted for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">39.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of its total net revenue from services in the same period. In the fiscal year ended December 31, 2020, Bunge accounted for 10.1% (10.9 % in 2019) of Rumo&#8217;s total net revenue, while Rumo&#8217;s six major clients accounted for 46.5% (45% in 2019) of Rumo&#8217;s total net revenue in the same period.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo&#8217;s major clients in the rail sector are export companies such as Bunge, Cargill, ADM, COFCO, Louis Dreyfus and Amaggi. In the fiscal year ended December 31, 2021, Bunge accounted for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Rumo&#8217;s net revenue from services in the rail sector, while Rumo&#8217;s six major clients in the rail sector jointly accounted for 4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of its net revenue from services in that sector. In the fiscal year ended December 31, 2020, Bunge accounted for 10.6% (12.3% in 2019)</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of Rumo&#8217;s net revenue from services in the rail sector, while Rumo&#8217;s six major clients in the rail sector </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">jointly </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">accounted for 47.9% (51.1% in 2019) of its net revenue from services in that sector.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo&#8217;s largest clients in the port elevation sector include </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Sucden, Engelhart, COFCO</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Czarnikow and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Louis Dreyfus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In the fiscal year ended December 31, 2021, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> accounted for 15.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Rumo&#8217;s net revenue from services in the port elevation sector, while Rumo&#8217;s six largest clients in the port elevation sector </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">jointly </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">accounted for 6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.4% of its net revenue from services in that sector. In the fiscal year ended December 31, 2020, Engelhart accounted for 18.1% (22.8% in 2019) of Rumo&#8217;s net revenue from services in the port elevation sector, while Rumo&#8217;s six largest clients in the port elevation sector </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">jointly </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">accounted collectively for 74.5% (70.0% in 2019) of its net revenue from services in that sector.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Seasonality</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo is subject to the seasonality that influences the sugarcane and grain harvest. During the peak months of the harvests, there is higher demand for transport and logistics operations. Rumo is also subject to the risk that sugarcane mills may change their production mix in favor of ethanol if the relative prices of the two products swing that way. This could reduce the demand for sugar logistics and transport. See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Seasonality.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s activities are subject to extensive regulation by public authorities, especially by the Brazilian Ministry of Infrastructure, the ANTT and ANTAQ.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Further, given the fact that they operate in the transport infrastructure sector, Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s subsidiaries and affiliates maintain a constant relationship with their respective granting authorities, whether in the context of participation in bidding processes to obtain new business (concessions) or in the context of inspections of their existing business by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the authorities responsible for supervising services rendered, in order to remain in compliance with the demands of such authorities.</span></p>
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<tbody>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">89</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rail Transportation Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rail transportation activities in Brazil are subject to a wide variety of laws and regulations. Rail transportation regulation in Brazil regulates (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the relationship between the Brazilian gover</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nment and the rail companies, (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the relationship among the rail companies, including interchange</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and mutual transit rights, (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the relationship between the rail compa</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nies and their customers and (4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) rail safety. The rules also contain a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">few</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> provisions relating to a railroad operator</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s liability. According to Decree No. 1,832/1996, Rumo will be relieved of liability for damage caused by Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operations in the event of (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">inherent defects or causes inherent to the nature of t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he goods to be transported, (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">death or injury of animals as a consequence of the natural risk inher</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ent to rail transportation, (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">lack of latent defect in or fraudulent procedure for the packaging of the produc</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t, (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">damage derived from the operations of loading, unloading or trans-loading by the sender, the addressee </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or their representatives or (5)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">damage to freight that has been packaged in sealed containers or sealed railroad cars but, after transportation, arrives damaged but still displaying a non-violated seal. Rumo is otherwise liable for losses and damages. The liability is limited to the value declared by the sender, which must be stated on the bill of lading. In the event of fault of both Rumo and the cargo owner, the responsibility is allocated proportionally based on relative fault. Total loss is assumed 30 days after the agreed date of delivery, except when due to force majeure.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to Decree No. 2,681/1912, the liability of the rail company for total or partial loss, damage or theft of transported freight is always assumed and the burden of proof of non-liability may only be deemed satisfied if the rail company i</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s able to provide evidence of (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) an </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">act of God or force majeure, (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) a loss caused b</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">y fault of the merchandise, (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) death or injury to a live animal resulting from an ordinary risk </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">caused by the transportation, (4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">defective packaging of the freight, (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) loss or damage caused by transportation in open cars, as required by regulation or resulting from the agreement with the customer, (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) loss or damage caused by loading and unloading by either the shipper or receiver or (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) loss or damage that could have been avoided by proper surveillance by the shipper of a freighted car. In the cases provided in (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) and (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), whenever there is mutual fault of the rail company and the shipper and/or the receiver, the indemnification shall be apportioned based on relative fault. For a total loss of the merchandise, the amount of the indemnification is limited to the fair market price of the shipped goods. For damage to the merchandise, the indemnification is proportional to the damage caused. In both cases, recovery is reduced by the amount of expenses not incurred by the shipper as a result of the damage or loss. For willful misconduct, all direct damages are indemnifiable. Late deliveries also are indemnifiable under certain circumstances.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Indemnification is limited by a one-year statute of limitations, counted from the delivery date (in case of damage) or from the 31st day after the promised delivery (in case of loss or theft). Any agreement providing for the exemption of railway liability is null and void, except that the indemnification may be limited based on an agreed-upon tariff reduction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If more than one rail company causes damage, any of them may be named as a sole defendant, although such named defendant will have recourse against the others. Death, disability or personal injuries are also indemnifiable and subject to this presumed liability rule, except when caused by force majeure or the injured party</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s sole liability, without fault of the rail company. Indemnification for personal injuries may include, in addition to medical expenses and loss of profits, other indemnification that may be granted. In addition, in 2001, the land transportation industry underwent reform with the enactment of Law No. 10,233/2001, which created, among other agencies, the ANTT, an entity member of the indirect federal administration, submitted to the special administration system and linked to the Brazilian Ministry of Infrastructure, the responsibilities of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which include, among others, (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) to publish bidding invitations, judge the bids and execute the rail transportation service concession agreements, (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) to administer concession agreements and rail network leases executed until the date of reform of the transportation market, accord</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ing to Law No. 10,233/2001, (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to publish invitations to bid, to judge the bids and to execute concession agreements for the construction and exploitation of new rail networks, (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to inspect, through cooperation arrangements, compliance with contractual clauses for the provision of rail transportation services, as well as maintenance and replacem</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ent of the leased assets, and (5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) to regulate and coordinate each concessionaire</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rail transportation services in Brazil can be provided by private parties under the concession regime regulated by Law No. 8,987 of February 13, 1995, or the Concession Law. The Concession Law requires that the granting </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">authority and concession holder enter into a concession agreement regulating the terms of such exploration and setting forth the terms applicable to the performance of the services.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Examples of key clauses found in such concession agreements include those relating to its purpose, the concession area and the concession term; the manner, form and conditions for rendering the services; criteria, indicators, formulas and parameters defining the quality of services; the price of the services, criteria and proceedings for the readjustment and review of tariffs; and rights, warrants and obligations of each of the granting authority and the concession holder, including those related to predictable needs of future change and expansion and services and consequent modernization, improvement and expansion of equipment and installations. Further examples include clauses relating to customers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> rights and obligations to have and use the services; contractual and administrative penalties to which the concession holder is subject and their application; concession termination events; revertible assets; criteria for the calculation and the payment conditions of indemnification owned to the concession holder; and conditions relating to the renewal of the concession agreement.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, both the Concession Law and the concession agreements regulate the penalties applicable in case of breach of the concession agreement. Pursuant to the Concession Law, the granting authority is entitled to terminat</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e the concession agreement if (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the services rendered by the concession holder fall below the standard agreed between the parties with regard to such services; (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) there is a breach of the provisions of the concession agreemen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t by the concession holder; (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the concession holder interrupts the provision of the services, unless such interruption is due to a force majeure event; (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the concession holder does not have the financial resources necessary to render the services required un</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">der the concession agreement; (5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the concession holder does not comply with penalties imposed by the g</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ranting authority; (6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the concession holder does not comply with requests from the granting authority intended to improve the services provided under</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the concession agreement; or (7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the concession holder does not provide, within 180 days after a request by the granting authority to that effect, documents proving that it is in compliance with applicable tax law. In addition, the granting authority can also terminate the concession agreement when it considers that it is in the public interest to do so, in which case specific legislation must be enacted regard</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ing</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> such termination and the concession holder must be duly indemnified for it.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Waterborne Transportation Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Waterborne transportation services in Brazil are regulated by Law No. 12,815/2013</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as amended by Law No.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">14,047, dated August 24, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Decree No. 8,033/2013 and by the rules issued by ANTAQ and by the Brazilian Ministry of Infrastructure.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">ANTAQ, which was created by Law No. 10,233/2001, is linked to the Brazilian Ministry of Infrastructure. Among other things, ANTAQ is responsible f</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) publishing invitations to bid, executing concession agreements, and issuing authorizations to exploit private port terminals and facilities, (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) inspecting compliance with contractual clauses for the provision of services in connection with public terminals and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">private port facilities and (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">regulating and coordinating each concession holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operations and companies authorized to exploit private port facilities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In Brazil, there are two main regulatory regimes affecting waterborne transportatio</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the concession regime, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">preceded by a public bidding process </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which regulates the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">opera</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tion of government-owned port terminals and the leasing of gov</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ernment-owned terminals, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">also preceded by a public bidding process, except when there is only one interested operator, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the authorization regime, relating to new private port terminals and facilities.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Furthermore, the Law No. 14,047/2020 has created a temporary use granting of government-owned port terminals for unconsolidated market cargo handling.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to Law No. 12,815/2013, with its amendments and additions issued by Law No. 14,047/2020, the following provisions are essential to the lease agreements: contract object, area and term; those relating to the manner, form and conditions for the exploration of organized ports and facilities; the value of the contract, tariffs in place and criteria and procedure for their readjustment and review; those relating to the contracting party</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s investment obligations; the parties</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> rights, obligations and responsibilities; the duty to provide information of interest and access to port facilities to the competent entities; clauses relating to the port owner</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s liability for nonperformance or deficient performance of activities; contract termination events; and penalties and the application thereof; criteria, indicators, formulas and parameters defining the quality of activities performed, as well as goals and time frames for reaching certain service levels; customers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> rights and obligations, including the related obligations of the contracted party and the respective sanctions; assets reversal; contractor and contracting party</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rights, obligations and warrants, including those related to future supplemental need, change and activities expansion </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and consequent modernization, improvement and expansion of facilities; inspection of facilities, equipment and of the methods and practices for the development of the activities, as well as the appointment of competent entities to perform it; guarantees for the adequate performance of the contract; and clauses&#160; on customs inspection measures for goods, vehicles and customers.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Until December 6, 2012, port operations in Brazil were governed by Federal Law No. 8,630/1993, or the Ports Modernization Law, which provided the legal framework applicable to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">opera</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tion of government-owned port terminals and facilities in Brazil. In view of the need to improve the applicable legislation, the Brazilian government implemented Law No. 12,815/2013, or the Ports Law, which expressly revoked the Ports Modernization Law and established a new legal framework with respect to port operations in Brazil. As a result, public ports are regulated by the Ports Law and by specific complementing regulations, such as Decree No. 8,033/2013</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, with its amendments and additions issued by Decree No. 10,672/2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. According to the provisions of the Ports Law, there are no more distinctions between third-party and own cargo handled at private port terminals. As a result, public ports are expected to face higher competition</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> by private operators, as private operators are subject to less rigorous regulatory requirements than publicly owned ports.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Accordingly, it is possible that Rumo may not be able to reach the minimum cargo movement provided for in its concession agreement for the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">oper</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ation of public port terminals, which may subject it to fines and, upon repeated violations, to the early termination of the concession. Even though the Ports Law does not provide for the adjustments of the terms of any concession agreement currently in place, it is possible that new regulations may make such provision. New regulations applicable to port operations in Brazil that might cause an adjustment of the terms in Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s concession agreements may adversely affect Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 8, 2014, ANTAQ published Resolution No. 3,220/2014, which sets forth the process for requesting the economic and financial rebalancing of the concession agreements for the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">oper</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ation of government-owned port terminals.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental Regulation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operations are subject to a wide range of federal, state and local laws, in addition to regulations and permit requirements regarding environmental protection in Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rail operations are subject to potential environmental liabilities involving the use, handling and transportation of hazardous materials. Rumo can also be held liable for damages resulting from vegetation suppression in connection with railroad expansion and other works in the vicinity of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s railroads. Locomotives are supplied with fossil fuel, which can be transported by wagon or truck, depending on the location. We have 25 active refueling stations, with a total storage capacity of over 3.3 million liters. The monthly volume is approximately 33.1 million liters of fuel. Potential incidents and leaks at those refueling stations may result in environmental damage.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Legislation authorizes the use of herbicides throughout Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rail system to control overgrown invasive vegetation, except in permanent preservation areas, where herbicides are prohibited. Rumo is constantly researching alternatives to control invasive vegetation in partnership with environmental authorities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo possesses an interstate railroad network and, pursuant to the Complementary Federal Law No. 140/2011, the Brazilian Institute of Environment and Natural Resources (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renov&#225;veis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IBAMA,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is the federal entity competent for licensing these activities. Rumo holds operating permits that allow us to operate the railways in the states of Rio Grande do Sul, Santa Catarina, Paran&#225;, S&#227;o Paulo, Mato Grosso and Mato Grosso do Sul, pending the issuance of the operating permits for the south of S&#227;o Paulo and all operating units. The issuance of these licenses by IBAMA is pending, but Rumo is currently standardizing its environmental licensing in accordance with applicable legislation.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The performance of environmental programs is essential to guarantee the granting and renewal of rail network permits and the continuity of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operations. The following environmental programs are included as conditions in Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s permits:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">monitoring and mitigation of accidents involving wildlife;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">monitoring and displacement of wild animals;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">identification, control and correction of erosive processes;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">identification and correction of critical drainage points;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">identification and correction of vegetation overgrowth on rail tracks;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">restoration of vegetation in permanent preservation areas;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">social communication;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">environmental education;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">risk analysis, risk management plan and emergency planning;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">reduction of bulk leakage during rail transportation;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">imaging and geographical information systems;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">environmental management and audit;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">diagnosis, monitoring and regularization of rights of way;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">gradual replacement of railroad ties;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">solid waste management;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">noise control;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">air emissions control; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">identification, control and correction of environmental liabilities.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo currently has an environmental licensing timeline for the improvement and expansion of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rail operations. Compliance with environmental conditions imposed by the current permits is of great importance in obtaining new licensing from environmental agencies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo seeks to comply with several procedures to reduce the risks related to the transportation of hazardous materials, such as having an emergency service plan and a management risk plan, and undertaking periodical track maintenance. Rumo also has an authorization to transport hazardous materials in the states in which we operate. In addition, Rumo has put in place certain procedures to reduce the risks of leakage of hazardous materials. For example, the recent installation of automatic shut-off valves and high-level alarms at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s diesel storage areas are expected to help reduce the number of accidental discharges. Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s investment program includes comprehensive upgrades to control systems that are expected to reduce the number and severity of hazardous materials leaks in cases of derailments. The environmental impact caused by the leakage of hazardous materials may vary in each case, so we perform quarterly internal audits to identify any noncompliance with the environmental standards. Rumo has identified and is in the remediation and monitoring phase with respect to certain areas of soil and groundwater contamination resulting from inadequate operation of wastewater treatment systems associated with railcar maintenance and washing and contamination from the leakage of hazardous materials.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s environmental liabilities consist of approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">34</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> separate environmental proceedings, including contaminated areas undergoing remediation, monitoring, supply posts and workshops. The expectation is that in 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, approximately R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million will be expended to address these liabilities. Other matters identified that require improvement include leakage prevention and leakage containment procedures, particularly aimed at avoiding water and soil contamination.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compliance with applicable legislation is essential in order to fulfill the terms of current environmental permits as well as to obtain permits for new projects. Due to the need to compete for new projects and perform operational enhancements, we try to enhance and improve Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s routine and operational procedures, and it is likely that Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s environmental investments and costs associated with compliance with environmental legislation will </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increase with the passage of time in accordance with Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s need to undertake new projects and improve its operations.</span></p>
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<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rail Concessions</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo conducts its rail activities through the following concession agreements: (1) the concession agreement entered into on December 30, 1998 and amended on May 27, 2020 involving Rumo Malha Paulista, which was originally scheduled to expire in 2028 but in May 2020 it was extended to 2058, as Rumo complied with the required obligations; (2) the concession agreement entered into on May 19, 1989 involving Rumo Malha Norte, expiring in 2079; (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the concession agreement entered into on July 7, 1996 involving Rumo Malha Oeste, expiring in 2026; and (iv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the concession agreement entered into on February 27, 1997 involving Rumo Malha Sul, expiring in 2027 (which may be extended for a further 30 years)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In September 2015, we filed a formal request for the renewal of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul concession agreement with the ANTT and, in January 2018, a request for extension of the concession agreement termination date.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The granting authority may unilaterally rescind all of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rail concession agreements prior to their expiration in the following circumstances:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">encampa&#231;&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which is the takeover of the provision of the services by the granting authority by means of specific legal order and prior payment of indemnity;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">forfeiture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which means the complete or partial non-performance of the concession agreement or failure to comply with the financial terms of the concession agreement and the lease agreement (when there is one in force);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">bankruptcy or dissolution of the concession holder; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">cancellation of the bidding process.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The enforcement of any of the unilateral termination provisions of the concession agreement must be preceded by the relevant administrative proceeding with ANTT and may result in indemnity to us for assets that revert to the granting authority. As of the date of annual report, we are aware of the existence of the administrative proceedings that could potentially give rise to unilateral termination events for our concessions, after all applicable administrative and judicial spheres have been overcome. For further information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 8. Financial Information&#8212;A. Consolidated Statements and Other Financial Information&#8212;Legal Proceedings&#8212;Probable Losses&#8212;Civil, regulatory, environmental and other claims.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On March 28, 2019, Rumo won the tender No. 02/2018 organized by ANTT to operate the railway network located between the cities of Porto Nacional, in the state of Tocantins, and Estrela d</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Oeste, in the state of S&#227;o Paulo, or the Ferrovia Norte Sul Tramo Central, for 30 years. Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s bid was R$2,719.5 million. On July 31, 2019, Rumo entered into a sub-concession agreement with ANTT and Valec Engenharia, Constru&#231;&#245;es e Ferrovias S.A., allowing </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Central to explore for 30 years the activities of rail freight transport and operate the Ferrovia Norte Sul Tramo Central. If Rumo is unable to comply with the obligations detailed in the tender notice for the Ferrovia Norte Sul Tramo Central, Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s assets may be encumbered, which may adversely affect Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s financial condition and results of operations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Business, the Operations of Our Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and Industries in Which We Operate&#8211;&#8211;The loss of Brazilian railway concessions may have a material adverse effect on our business.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8211;&#8211;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Business, the Operations of Our Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and Industries in Which We Operate&#8211;&#8211;Rumo may not obtain an early renewal of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul concession agreement, currently under review by the Brazilian Transportation Authority (Ag&#234;ncia Nacional de Transporte Terrestre), or ANTT, which may have a material adverse effect on Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s investment plan and growth strategy.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rail Authorization Agreements</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Currently, no section of our railroad network is subject to an authorization, rather than a concession, by any governmental entity. However, on July 19, 2021, the government of the State of Mato Grosso launched a public call </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to receive bids for an authorization to construct a new, 730-kilometer railroad network within the state. Under current law, an authorization to construct a railway network requires no prior tender. Rather, a simplified, public call process may be used, wherein technically and financially eligible companies may submit bids for the project without an elaborate competitive process. However, whereas concession agreements typically entail the operation or expansion of an existing railway network in consideration for a guaranteed rate of return, an authorization requires a successful bidder to build a railway network from scratch, and carries with it no guarantee of success or return. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 19, 2021, Rumo Malha Norte entered into an adhesion agreement with the State of Mato Grosso, which allows Rumo Malha Norte to engage in the construction, operation, exploration and conservation of a railroad that independently connects the Rondon&#243;polis railroad terminal to Cuiab&#225; and Lucas do Rio Verde in the state of Mato Grosso</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Port Lease Agreements</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo leases 118,434.38 square meters of property located in the port of Santos (state of S&#227;o Paulo), which has two docking cradles for loading sugar and solid agricultural bulk (corn and soy). Rumo leases this property pursuant to lease agreement PRES-05/96, which matures on March 6, 2036. Pursuant to Article 57 of the Ports Modernization Law and Article 19 of Decree No. 8,033/2013, recently amended by Decree No. 9,048/2017, lease agreements may be extended up to the limit of 70 years. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the lease agreement, Rumo has an obligation to make investments totaling an estimated R$308 million, of which approximately 92% has already been invested by Rumo and/or its subsidiaries as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo al</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">so holds equity interests in: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) Terminal XXXIX and the adjacent areas for moving agricultural products and bulk as well as other goods capable of being transported in those port installations, through a port lease agreement due to expire in 2050; (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Portofer Transporte Ferrovi&#225;rio Ltda., which leases </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">facilities, equipment and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">railroad tracks for the transportation </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of goods and import/export through the right and left banks of the port of Santos, by means of a lease agreement with Portofer Transporte Ferrovi&#225;rio Ltda. due to expire in 2025; (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Terminal de Gran&#233;is do Guaruj&#225; (TGG), located on the left bank of the port of Santos, for the transport of solid and liquid bulk, through an area used by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte via a leasing agreemen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t due to expire in 2027; and (4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Terminal Mar&#237;timo do Guaruj&#225; (T</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ER</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">M</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">G), located on the left bank of the port of Santos, mainly for the transport of solid and liquid bulk, through an area used by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte via a lease agreement due to expire in 2027.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If Rumo fails to comply with the applicable regulatory rules or contractual obligations, its lease may be terminated early pursuant to the Concession Law, which applies to port leases.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Furthermore, there are ongoing legal and administrative proceeding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which question the validity or legality of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s concessions or leaseholds in port facilities, as follows: (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ongoing legal proceeding regarding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> whether the execution of the lease agreement relating to Terminal XXXIX, TGG and TERMAG should have been subject to a prior bidding procedure. The Brazilian Superior Justice Court (Superior Tribunal de Justi&#231;a) sustained Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s appeal by finding in its favor, to which the public prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s office filed an additional appeal, which is curr</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ently pending disposition; (ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ongoing public civil action filed by the Brazilian Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office challenging the validity of the Portofer lease agreement. A trial court has ruled in favor of Rumo and rejected the claim, but an appeal had been lodged by the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office and is currently </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">awaiting disposition; and (iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an administrative proceeding before the Federal Court of Accounts, or the TCU, challenging the legal validity of the Portofer lease agreement. The TCU rendered a decision in June 2020 stating that, while it would be detrimental to public interest if the current agreement were annulled, the port authority of the Port of Santos should not renew the agreement once it expires in June 2025, and should rather conduct a new tender proceeding. We filed an appeal against this decision, which is yet to be heard by the TCU</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Competition</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen faces compe</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tition in its fuel distribution and renewables </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">businesses. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the fuel distribution business, Ra&#237;zen competes with companies in the sectors in which it operates and with companies in other sectors that produce similar products. Competitors include gas stations from large integrated </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">oil </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">companies, independent gas stations, convenience stores, fast food stores and other similar outlets, some of which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">are well-known Brazilian or regional retail companies. According to SINDICOM, the three largest fuel distributors in Brazil are Vibra Energia (through the BR Petrobras brand), Ra&#237;zen (through our Shell brand gas stations) and Ultrapar S.A. (through the Ipiranga brand)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The main competitive factors affecting retail marketing operations include site location, product price, selection and quality, appearance and cleanliness, opening hours, safety at the store, customer loyalty and brand recognition. In the year ended December 31, 2021, we registered 29 billion liters of fuel sold in Brazil, while in the years ended December 31, 2020 and December 31, 2019, Ra&#237;zen registered the sale, respectively, of 24.5 billion and 27.3 billion liters. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">November</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2021, Ra&#237;zen concluded the acquisition of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B&amp;R</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">largest fuel distributor in Paraguay, complementing </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">operating</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> platform in South America. In</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">international</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operations, Ra&#237;zen faces competition from several other fuel distributors, including YPF, Axion and Puma, among others. There, Ra&#237;zen recorded 33.2 billion liters of fuels sold in the year ended December 31, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is a leading global company in the ethanol and sugar markets, with low-cost, large-scale production and integrated operations throughout Brazil. The favorable conditions in Brazil enable sugarcane to be harvested five to six times before replanting becomes necessary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which is a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">major advantage relative to other countries, such as India, where sugarcane needs to be replanted every two or three harvests on average. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">However, Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">face</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> competition from international ethanol producers who use other sources of ethanol, such as corn and sugar beet to produce ethanol fuel.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We believe </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">that Ra&#237;zen is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a global leader</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in terms of the products </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">it</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> market</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> through </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> renewables and sugar segments, as follows:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sugarcane</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the world</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest sugarcane producer and processor, having processed</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 75.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million tons of sugarcane in the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> nine months of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2021/2022 harvest, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">61.4 million tons in the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 2020/2021 harvest</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 59.7 million tons for the 2019/2020 harvest.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ethanol</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: Ra&#237;zen is the largest sugar ethanol producer in Brazil and one of the largest in the world, having produced 2,519 billion liters during the 2020/2021 harvest, 2,398 billion liters in the 2019/2020 harvest and 2,515 billion liters in the 2018/2019 harvest.</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sugar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: Ra&#237;zen is the largest producer-exporter of sugar in the world, having produced 4.3 million tons in the 2020/2021 harvest, up from 3.8 million tons in the 2019/2020 harvest and 3.7 million tons in the 2018/2019 harvest.</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 28.06pt; padding-left: 7.94pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Energy Cogeneration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the world</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest producer of energy from sugarcane bagasse. We have an installed energy capacity of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> GW per year from our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">35</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> plants, of which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> delivered energy to the national grid in year 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. We consider energy cogeneration to be strategic to our business, as it allows for greater stability of cash flow across commodity cycles, significantly reducing volatility in our operations.</span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Natural Gas</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s concession area covers approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s GDP, including approximately 92 municipalities in the metropolitan areas of S&#227;o Paulo, Campinas and Santos as well as the Para&#237;ba Valley. Comg&#225;s distributes natural gas for residential, commercial and industrial customers, and also supplies gas for use as fuel for vehicles and electricity generation. For the residential and commercial customers, Comg&#225;s holds exclusivity rights within its area of concession. For industrial customers, Comg&#225;s has exclusive distribution rights until 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9. Comg&#225;s faces competition from electricity concessionaires, oil and ethanol producers in its activities.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Companies active in the Brazilian railroad transport market generally provide logistics services in their respective regions, with regions being allocated to various companies based on the public concessions granted by the ANTT. The necessity of obtaining a concession from the ANTT represents a barrier to the entry of new competitors into the market given that each concession area is granted to a single operator. As there are currently no parallel rail tracks in the Brazilian railway network, the competition in the market in which we operate primarily derives from truck transportation, which can compete for the same freight as rail operators.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Clients generally select a mode of transportation based on the freight rates charged, efficiency and volume. Given our offering of advantageous prices coupled with our significant transport capacity and greater efficiency over </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">trucks, we believe we have significant opportunities to increase our current market share within the areas in which we operate and that we are in a better strategic position than our competitors to seize the growth opportunities in these industries.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Historically, railroad freight prices have varied in conjunction with road freight prices. Freight prices in the road transportation market have increased significantly in the past years</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, usually in line with the fluctuations of diesel prices</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. We expect this increase to also benefit railroad operators such as us, given the correlation between road and rail freight prices.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Each railway concession agreement grants the recipient concession holder an exclusive right to develop the rail network infrastructure in a particular geographic area. Because each concession holder operates in a separate geographic area, they do not compete directly with each other. Instead, the main competition to the various rail concession holders is, in most cases, the truck transportation sector, which has historically been the main form of cargo transportation in Brazil. According to the CNT, trucks transported 6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s production in 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, while only </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">approximately 15</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of that production was transported by rail and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">approximately 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% was transported on waterways, which includes coastal shipping.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The main competitive factors affecting intermodal</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> logistics operations include (1) ra</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tes charged, (2) haul time, (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">haul volume and (4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the quality and reliability of the service provided. We believe that Rumo in a strong position to compete effectively in the intermodal transportation sphere due to the lower rates it can charge due to our relatively larger transportation capacity and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operational efficiencies arising from our long-term investment plan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Patents, Licenses, Contracts and Processes</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In Brazil, ownership of trademarks can be acquired only through a validly approved registration with the National Institute of Intellectual Property (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Instituto Nacional de Propriedade Industrial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">INPI</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), the agency responsible for registering trademarks, patents and designs in Brazil. After registration, the owner has exclusive rights of use of the trademark throughout Brazil for a ten-year period that can be successively renewed for equal periods.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of the date of this annual report, we own 3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">67</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> trademarks in Brazil, 137 of which are owned by Cosan S.A., 2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of which are owned by Rumo S.A., with the remaining </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">208</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> owned by other companies of the Cosan group. All material trademarks for our business are registered or have been submitted to INPI by us or our affiliates.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Research and Development</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our main research and development activities for the fisc</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">al years ended December 31, 2021, 2020 and 2019</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> concentrated in the following key areas:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We engage CanaVialis S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CanaVialis,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to provide us with access to its sugarcane genetic improvement program specifically tailored to Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s mills. CanaVialis, which is a subsidiary of Monsanto, is a privately owned firm focused on the genetic improvement of sugarcane. We benefit from their support services and use of their bio factory, which allows us to decrease the amount of time required for seedling production and grants us access to new, improved sugarcane varieties through their genetic improvement program. CanaVialis also conducts field trials and region-specific genetic selection programs to develop sugarcane varieties for our greenfield projects for the construction of new sugarcane mills.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen also invests in innovation in the ethanol manufacturing process. Ra&#237;zen has an interest in Shell</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s commercialization rights of Iogen Energy, which conducts research into advanced fuels, including ethanol extracted from the cellulose of sugarcane and other plants.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We originally established Payly in November 2018 to operate a digital payment scheme to consumers and B2B partners. We updated Payly</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s business plan during 2020 to focus exclusively on business-to-business clients. Payly provides payment processing services through a digital wallet, and delivers a payment arrangement solution to enterprises. This provides Payly with deep insights into the needs of merchants and end consumers, thereby becoming a comprehensive platform and entry point for payment, lifestyle and innovative financial services. Payly charges a fee based on a certain percentage of the payment amount processed and also generates value through the accounts balance investment.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our total research and developme</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nt expenditure amounted to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2021, R$6.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year en</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ded December 31, 2020, and R$12.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ende</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d December 31, 2019.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BCC_94X9JXNBVK00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">C. Organizational Structure</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are an integrated energy and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> logistics </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">company and, when considered together with the Joint Venture, a Brazilian market leader in fuel distribution, sugar and ethanol production, natural gas distribution and logistics. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our operations include:</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (1) the production of sugar, ethanol and bioenergy</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> through</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which also</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> distributes and sells fuels under the &#8220;Shell&#8221; brand, supplying a network of service stations, airport refueling sites and business-to-business customers in Brazil and Argentina, where it also refines oil, manufactures and sells automotive and industrial lubricants, and produces and sells liquefied petroleum gas</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and which also operates a network of convenience stores</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> through our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power segment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> distribution of piped natural gas in part of the state of S&#227;o Paulo to customers in the industrial, residential, commercial, automotive and cogeneration sectors through Comg&#225;s; and (ii) the sale of electricity, comprising the purchase and sale of electricity to other traders, to consumers who have a free choice of supplier and to other agents permitted by law; (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">production and distribution of lubricants under the Mobil brand in Brazil, Argentina, Bolivia, Uruguay, Paraguay, the United States of America and certain European countries, as well as in the European and Asian markets under the &#8220;Comma&#8221; trademark and corporate activities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> through Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; (4) logistics services for rail transportation, storage and port loading of commodities, mainly for grains and sugar, leasing of locomotives, wagons and another railway equipment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> through Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; (5)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> management of agricultural properties, mining and logistics projects and investment in the Climate Tech Fund, a fund managed by Fifth Wall, specializing in technological innovation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, through </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The chart below sets forth a simplified summary of our corporate structure as of the date of this annual report:</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><img src="img5033a30e4c3141bfa110.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Graphics"></img></span></p>
<p style="margin: 10pt 0pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><br/></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A list of the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s subsidiaries is included in note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of our audited consolidated financial statements for the fiscal years ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20 and 2019</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, included elsewhere in this annual report. See also Exhibit </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to this annual report, which contains a list of our subsidiaries.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The investment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s constituting </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Joint Venture </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">are accounted for under the equity method. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">We</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">subsidiaries and Shell and its affiliates likewise each own </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">44.02</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of the preferred shares (which have preferential dividend rights in certain circumstances) issued by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen S.A.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BDD_UN3LSDOF4G00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">D. Property, Plant and Equipment</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For more information related to property, plant and equipment see note 1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our audited consolidated financial statements for the fiscal years ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 201</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, included elsewhere in this annual report. See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Capital Expenditures</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for a description of our ongoing expansions and renovations of our property, plant and equipment.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We present a summary below of our material tangible fixed assets, including investment properties and intangible assets (concessions), by segment:</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen distributes fuels through </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">70</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> distribution terminals to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">approximately</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,300</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> service stations throughout Brazil and Argentina under the Shell brand and also has </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">69</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> airport </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">terminals supplying aviation fuel</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in its energy generation business</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">operates </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">35</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> mills, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">has an installed capacity for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">grinding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 105 million tons of sugarcane and installed capacity</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to generate </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> GW of power, a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> second-</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">generation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (E2G) ethanol plant and a biogas plant.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In 2018, Ra&#237;zen acquired Shell</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s downstream operations in Argentina. The assets acquired consist of a refinery, located in the Buenos Aires metropolitan region, with a refining capacity of 108 thousand barrels per day, which distributes fuels and lubricants through 759 strategically-located service stations under the Shell brand, of which 5.7% are owned by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On November 1, 2021, Ra&#237;zen concluded the acquisition of 50% of the capital stock of Barcos y Rodados S</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or &#8220;B&amp;R.&#8221; B&amp;R is based in Paraguay and is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">leader in the fuel distribution market in Paraguay, with a network of 340 fuel resale stations. With the acquisition and sublicense of the right to use </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Shell</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> brand in the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> B&amp;R</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> network</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> B&amp;R service</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> stations will progressively </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">start </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">op</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">erating under the Shell brand</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s is Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest natural gas distributor with a pipeline network of&#160; approximately 19,500 kilometers, supplying natural gas to 2 million residential, commercial and industrial consumers in over 177 cities. Its concession area accounts for approximately 27% of Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s GDP, covering approximately 92 municipalities in the metropolitan areas of S&#227;o Paulo, Campinas, Santos and the Para&#237;ba Valley.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Sulg&#225;s, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">newly acquired </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">subsidiary, is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the state of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rio Grande do Sul</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">former </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">state-owned </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gas supply con</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cessionaire and has an exclusive right to operate a concession throughout the state of Rio Grande do Sul</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">until August 2044. Its networks totaled approximately 1,400 kilometers, delivering natural gas to more than 68 thousand clients in 42 cities, with a distributed volume of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">two million cbm/day</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Moove</span></p>
<p style="margin: 0in 0in 10pt; text-indent: 0.25in; font-size: 10pt; font-family: 'Times New Roman', 'serif';"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">We have two production plants, one in Rio de Janeiro, Brazil, which is the biggest plant of the business, with annual production capacity of about 400 million litres per year, licensed under the Mobil brand in the Americas, Comma in Asia, and both brands in Europe, and another one in Gravesend, England, with annual production capacity of about 70 million litres per year.</span></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo concluded the ALL Acquisition on April 1, 2015 and is Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s largest logistics operator in terms of total volume transported, providing rail transport logistics, port handling and warehousing services. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the states of Mato Grosso, Mato Grosso do Sul, Goi&#225;s, Tocantins, S&#227;o Paulo, Paran&#225;, Santa Catarina and Rio Grande do Sul. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Currently, Rumo owns and operates a large asset base, including a rail network consisting of five concessions that extend over approximately 14,000 kilometers of railway lines, over 1,500 locomotives, over 35,000 rail cars, as well as distribution centers and warehousing facilities. Rumo provides efficient and complete logistics services to its clients through its operation of 12 transshipment terminals, either directly or through partnerships, which have a static storage capacity of approximately 1,900,000 tons, and where we store grains, sugar and other commodities. At its most important terminal, the logistics complex of Rondon&#243;polis (in the state of Mato Grosso), Rumo has the capability to load over 1,000,000 tons of grains per month. Moreover, Rumo controls two port terminals in Santos in the state of S&#227;o Paulo, and holds equity interests in four other port terminals, three of which are in the port of Santos in the state of S&#227;o Paulo and one </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is in the state of Paran&#225;. The real estate Rumo leases in connection with its concessions contains areas available for construction and development of warehouses and logistics terminals, which makes it possible for Rumo to expand its operations and improve its logistics and other services. For example, Rumo currently has a 9.9% equity interest in the Grain Terminal of Guaruj&#225; (TGG) in the port terminal in Santos, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which is a significant port project. To expand its North Operation in September of 2021, Rumo signed an agreement with the State of Mato Grosso to construct and operate a railroad that independently connects the road-rail terminal of Rondon&#243;polis to Cuiab&#225; and Lucas do Rio Verde in the state of Mato Grosso.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan Investments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the fourth quarter of 2021, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> increased its equity interest in Radar, the agricultural land management company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Radar has over 90 thousand hectares, located in the states of S&#227;o Paulo, Maranh&#227;o and Mato Grosso.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Capital Expenditures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our capital expenditure program is currently focused on the following areas (each of these primarily within Brazil):</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s investment plan for the year ended December 31, 2021 was comprised of the following: (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">planting and treating sugarcane fields (R$1,446 million); (ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">maintaining industrial, agricultural, logistics and distribution assets, and assets relating to adapting and developing our standards for environmental safety and health related in the production of sugar, ethanol and electricity (R$1,451 million); (iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">improvements and expansions related to sugar, ethanol and electricity (R$351 million); expanding and renovating the chain of retail stations (R$559 million); and (iv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">supporting our network infrastructure expansion strategy for our distribution terminals in Brazil (R$334 million). </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">total projected capital expenditure in Argentina </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> R$1,130 million, of which approximately R$690 million refers to a nonrecurring project to modernize our refining facilities, while the remainder is for maintenance and other operational improvements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moreover, Ra&#237;zen invests in maintaining and renewing sugarcane fields at approximately 73% of its total capital expenditures per year. Ra&#237;zen also invests every year in intercrop maintenance (i.e., primarily in plant and agricultural machine repairs during the times in which no operations are ongoing). The biological asset and intercrop maintenance capital expenditures totaled approximately R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,976</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s has been investing in its network expansion and during the fi</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">scal year ended December 31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, it invested R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,175</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, of which approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">58</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% was associated with expansion programs, approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">33</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% was related to network support investments, and approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% was related to administrative a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nd software investments. In 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we expect to invest approximately R$1,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">300</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, according to a similar distribution. The funds used by Comg&#225;s for making capital expenditures are generated from its working capital and existing or new indebtedness.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">During the fiscal year ended December 31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2021, TRSP&#8217;s capital expenditure totaled R$242.3 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s strategy is focused on investments in the renovation of assets, in particular its locomotives and railcar fleet, through the purchase of new rolling stock to replace assets in poor condition of use. The purpose of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s investment in rail tracks is to reduce its operating costs and maximize its transported volume. As result of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s ongoing efforts, Rumo is increasing capacity while reducing transit time along some of our major routes. During the fis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s total investments in property, plant and equipment and intangible assets amounted to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,453.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;million in the aforementioned initiatives. The main investment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s in capacity expansion were (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">upgrading the permanent way by re</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">placing tracks and sleepers; (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">expanding yards to adjust for</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the 120-railcar train; and (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) infrastructure improvements, with the aim of removing restrictions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The funds used by Rumo for making capital expenditures are provided by Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operating results and from financings and credit extended by private banks, as well as by government-owned banks such as BNDES.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">100</span></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">During the fiscal year ended December 31, 2021, Moove&#8217;s capital expenditure totaled R$43 million, of which 70</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$30 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was invested in Moove&#8217;s Brazilian operations and the remainder </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was invested in its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> European and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">North American and other South American operation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Approximately 8% of the capital expenditure in Brazil was invested in renewing and increasing tank capacity.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> R$31 million was mostly invested in recurring projects. In Europe, approximately 75% was invested in recurring projects, while the remainder was invested in expansion projects. The funds used by Moove for making capital expenditures are generated from its working capital and existing or new indebtedness.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BEE_YEM90BJNOW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">E. Supplemental Information About Joint Venture</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and its consolidated subsidiaries </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">are not consolidated in our financial statements. Nevertheless, we have included below a summary of business performance derived from note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (Segment information) to our audited</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> consolidated</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> financial statements for the periods indicated.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Prior to the corporate reorganization of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen completed on June 1, 2021, our senior management viewed Ra&#237;zen as two reportable operating segments whereby each of the legal entities (Ra&#237;zen Combust&#237;veis S.A. and Ra&#237;zen Energia S.A.) was considered to be a separate segment. Following the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">corporate reorganization of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen, our senior management started to consider Ra&#237;zen as a single reportable segment.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Accordingly, our previously reported segment information has been recast for all periods presented to reflect the changes in the reportable segments. For further information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Presentation of Financial and Other Information&#8212;Certain Corporate Events&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Consolidation of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B. Business Overview&#8212;Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221; &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Financial Presentation and Accounting Policies&#8212;Business Segments and Presentation of Segment Financial Data&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Segment Information,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements for the fiscal years ended December 31, 2021, 2020 and 2019, included elsewhere in this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The discussion in this section is based on a comparison of the audited fiscal year ended December 31, 2021 with the audited fiscal year ended December 31, 2020, and on a comparison of the audited fiscal year ended December 31, 2020 with the audited fiscal year ended December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Results of Operations for the Joint Venture for the Fiscal Year Ended December 31, 2021 Compared to the Fiscal Year Ended December 31, 2020</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table presents Ra&#237;zen&#8217;s</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">comparative combined consolidated financial information for the years ended December 31, 2021 and 2020.</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Year Ended December 31,(1)</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(2)</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(3)</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of R$)</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(variation %)</span></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Operating revenue, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">175,047.3</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 1%; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">118,049.7</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">48.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Costs of sales and services</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">163,367.6</span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">110,800.5</span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; text-align: left; margin: 0px; text-indent: 0px;">)</td>
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<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">47.4%</span></p>
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<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gross profit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">11,679.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,249.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">61.1%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,882.7</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,264.8</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">18.9%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,788.2</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,263.7</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">41.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income (expenses), net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">674.3</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">378.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">78.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,996.6</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,150.3</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income before finance income and income and&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">social contribution taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,683.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,099.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">115.6%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance costs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,606.7</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,345.8</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(31.5)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">580.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">690.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange differences, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,076.7</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,821.5</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(71.8)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect of derivatives</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">136.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,045.3</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(96.6)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income (expenses)</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="border-left: none; border-right: none;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,967.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,431.3</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">37.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income before income and social contribution taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,716.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,667.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">182.8%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,350.3</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">537.0</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: left; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">151.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net income for the year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,365.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,130.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">197.7%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-indent: 0px; font-size: 7pt;"><br/></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">101</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -18pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span>
<table style="width: 100%; margin: 0px; height: 102px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 34px;">
<td style="width: 3%; height: 34px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="width: 97%; height: 34px; padding: 1px 1px 10px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes 100% of<span>&#160;</span></span>Ra&#237;zen&#8217;s<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>results. We hold a 44.02% equity interest in<span>&#160;</span></span>Ra&#237;zen<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, which under IFRS 11 are recorded in the &#8220;Equity income of jointly controlled entity&#8221; line item in the consolidated statements of profit or loss and comprehensive income for the fiscal years ended December 31, 2021 and 2020.</span></td>
</tr>
<tr style="height: 51px;">
<td style="height: 51px; vertical-align: top; padding: 1px 1px 10px;" valign="top"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="height: 51px; padding: 1px 1px 10px;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the corporate reorganization of<span>&#160;</span>Ra&#237;zen</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>completed on June 1, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, our senior management started to consider<span>&#160;</span>Ra&#237;zen<span>&#160;</span>as a single reportable segment. Accordingly, our previously reported segment information has been recast for all periods<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and is<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">presented to reflect the changes in the reportable segments. For further information, see &#8220;Presentation of Financial and Other<span>&#160;</span>Information&#8212;Certain<span>&#160;</span>Corporate<span>&#160;</span>Events&#8212;Consolidation<span>&#160;</span>of<span>&#160;</span>Ra&#237;zen.&#8221;</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top;" valign="top"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</span></td>
<td style="height: 17px;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">On August 10, 2021,<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Ra&#237;zen</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>completed the acquisition of<span>&#160;</span>Biosev. See &#8220;</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Item 4. Information on the<span>&#160;</span>Company&#8212;A. History and Development of the<span>&#160;</span>Company&#8212;History</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.&#8221;<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Ra&#237;zen</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>began consolidating<span>&#160;</span>Biosev<span>&#160;</span>within its results of operations as from August 10, 2021.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">As a result, the comparability of<span>&#160;</span>Ra&#237;zen&#8217;s<span>&#160;combined&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">consolidated<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">financial information for the fiscal year ended December 31, 2021 with<span>&#160;</span>Ra&#237;zen&#8217;s<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">combined<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">consolidated<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">financial information for the fiscal year ended December 31, 2020<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">2019 is limited.</span></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Operating Revenue, Net</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s operating revenue, net increased by 48.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$56,997.5 million, to R$175,047.3 million in the year ended December 31, 2021 from R$118,049.7 million in the year ended December 31, 2020. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">This increase is primarily due to (1) the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">48.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% increase in revenues driven by renewable energy generation and an increase in the average sugar price as a result of the general upward trend of commodity prices, (2) the optimization of our supply and sales strategy in fuel distribution, consisting of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">52.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, (3) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an increase in sales, in particular diesel sales driven</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the agribusiness, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cargo and passenger transport sectors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the consolidation of the results of Biosev from August 10, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Costs of Sales and Services</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s costs of sales and services increased by 47.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$52,567.1 million, to R$163,367.6 million in the year ended December 31, 2021 from R$110,800.5 million in the year ended December 31, 2020, substantially due to the increase in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prices</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">inputs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ra&#237;zen uses to produce its products and provide services to its customers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In particular,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ugar </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prices </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increased by 22% and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">thanol increased by 50% compared with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the prior year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; </span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gross </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Profit</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s gross profit increased by 61.1%, or R$4,430.5 million, to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">11,679.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the year ended December 31, 2021 from R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,249.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the year ended December 31, 2020 (representing 6.7% and 6.1% of operating revenue, net, respectively),</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Operating Income (Expenses)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s operating expenses increased by 20.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$846.4 million, to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$4,996.6 million net expense in the year ended December 31, 2021 from </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$4,150.3 million net expense in the year ended December 31, 2020. This increase was mainly due to higher expenses incurred with logistics and freight as a result of inflation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, higher</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> personnel expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">consolidation of the results of Biosev from August 10, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Finance Income (Expenses)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s finance expenses increased 37.4%, or R$535.8 million, to an expense of R$1,967.1 million in the year ended December 31, 2021 from an expense of R$1,431.3 million in the year ended December 31, 2020, primarily due to the increase in the SELIC rate compared to the same period in the previous year and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">lower gains with derivatives</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">102</span></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income before </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Social Contribution Taxes</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s income before income and social contribution taxes increased by 182.8%, or R$3,048.3 million, to R$4,716.0 million in the year ended December 31, 2021 from R$1,667.7 million in the year ended December 31, 2020 (representing 2.7% and 1.4% of operating revenue, net, respectively), </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Social Contribution Taxes </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Current </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Deferred</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s total income and social contribution taxes (current and deferred) increased by 151.4%, or R$813.3 million, to an expense of R$1,350.3 million in the year ended December 31, 2021 from an expense of R$537.0 million in the year ended December 31, 2020 (representing 0.8% and 0.5% of operating revenue, net, respectively), primarily due to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the increase of the income before income and social taxes for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">for the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Year</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s net income increased by 197.7%, or R$2,235.0 million, to R$3,365.7 million in the year ended December 31, 2021 from R$1,130.7 million in the year ended December 31, 2020 (representing 1.9% and 1.0% of operating revenue, net, respectively), </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Results of Operations for the Joint Venture for the Fiscal Year Ended December 31, 2020 Compared to the Fiscal Year Ended December 31, 2019</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table presents Ra&#237;zen&#8217;s comparative combined consolidated financial information for the years ended December 31, 2020 and 2019.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 335px;" width="100%">
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Year Ended December 31,(1)(2)</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020/2019</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of R$)</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(variation %)</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; width: 65%; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Operating revenue, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">118,049.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; text-align: right; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">129,349.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; text-align: right; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 10%; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(8.7)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Costs of sales and services</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(110,800.<span style="border-left: none; border-right: none;">5</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; text-align: left; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">122,429.3</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 10px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(9.5)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gross profit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,249.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,920.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 20px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,264.8</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,069.3</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 18px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.4%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,263.7</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,232.7</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.5%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other operating income (expenses), net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">378.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,129.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 18px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(82.2)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; margin: 0px; height: 18px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,150.3</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,173.0</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">91.0%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin-left: 0.1px; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income before finance income and income and social </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">contribution taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,099.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,747.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(34.7)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance costs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,345.8</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,180.4</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7.6%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">690.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">767.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(10.0)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange differences, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,821.5</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">571.3</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">568.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net effect of derivatives</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,045.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">688.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">467.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income (expenses)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,431.3</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,296.2</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10.4%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income before income and social contribution taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,667.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,450.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom; text-align: left;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(51.7)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income and social contribution taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">537.0</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">923.2</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px; vertical-align: bottom; text-align: left;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 18px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(41.8)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net income for the year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,130.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,527.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; text-align: right; margin: 0px; text-indent: 0px; height: 20px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; height: 20px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(55.3)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160; &#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 3%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="width: 97%; padding: 1px 1px 10px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes 100% of<span>&#160;</span></span>Ra&#237;zen&#8217;s<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>results. The Company holds a 50% equity interest in<span>&#160;</span></span>Ra&#237;zen<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, which under IFRS 11 are recorded in the &#8220;Equity income of jointly-controlled entity&#8221; line item in the consolidated statements of profit or loss and comprehensive income for the fiscal years ended December 31, 2020 and 2019.</span></td>
</tr>
<tr>
<td style="vertical-align: top;" valign="top"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(2)</span></td>
<td><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the corporate reorganization of<span>&#160;</span>Ra&#237;zen<span>&#160;</span>completed on June 1, 2021, our senior management started to consider<span>&#160;</span>Ra&#237;zen<span>&#160;</span>as a single reportable segment. Accordingly, our previously reported segment information has been recast for all periods<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">presented to reflect the changes in the reportable segments. For further information, see &#8220;Presentation of Financial and Other<span>&#160;</span>Information&#8212;Certain<span>&#160;</span>Corporate<span>&#160;</span>Events&#8212;Consolidation<span>&#160;</span>of<span>&#160;</span>Ra&#237;zen.&#8221;</span></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; break-after: avoid; text-indent: 0px;"><br/></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
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<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">103</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 10pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Operating Revenue, Net</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s operating revenue, net, decreased by 8.7%, or R$11,299.80 million, to R$118,049.7 million in the year ended December 31, 2020 from R$129,349.5 million in the year ended December 31, 2019, primarily due to a reduction in fuel demand of 10% in 2020 driven by the impact of the COVID-19 pandemic on economic activity. During the second quarter of 2020 demand for ethanol, gasoline, diesel, and jet fuel declined by approximately 24% in Brazil and 42% in Argentina compared to the second quarter of 2019. While demand partially recovered in the second half of 2020, demand in the fourth quarter of 2020 remained 10% below the level recorded in the fourth quarter of 2019 in Brazil and 25% below the level recorded in the fourth quarter of 2019 in Argentina.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Costs of Sales and Services</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s costs of sale</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s and services decreased by 9.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$11,628.9 million, to R$122,429.4 million in the year ended December 31, 2020 from R$110,800.5 million in the year ended December 31, 2019, substantially due to a decrease of 13.1% in the volume of fuel sold driven by the economic slowdown resulting from the COVID-19 pandemic, which offset the 4.66%, or R$1,255.6 million, cost increase in Ra&#237;zen&#8217;s energy business.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gross </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Profit</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s gross profit increased by 4.8%, or R$329.1 million, to R$7,249.2 million in the year ended December 31, 2020 from R$6,920.1 million in the year ended December 31, 2019 (representing 4.1% and 5.9% of operating revenue, net, respectively), </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Operating Income (Expenses)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s operating income (expenses) increased by 9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$1,977.2 million, to R$4,150.3 million in the year ended December 31, 2020 from R$2,173.0 million in the year ended December 31, 2019, primarily due to the gain of R$1.1 billion from the formation of the joint venture with FEMSA, recognized in 2019, and an increase of R$195.5 million, in logistics expenses in Ra&#237;zen&#8217;s energy business following a R$7,721.9 million uptake in export sales volume.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Finance </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s finance income (expenses) <span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">increased by&#160;</span>10.4%, or R$135.1 million, to an expense of R$1,431.3 million in the year ended December 31, 2020 from an expense of R$1,296.2 million in the year ended December 31, 2019 (representing 0.8% and 0.7% of operating revenue, net, respectively), primarily due to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the ap</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">preciation of the U.S. dollar, euro and British p</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ound against the Brazilian </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income before </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Social Contribution Taxes</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s income before income and social contribution taxes decreased by 51.7%, or R$1,783.2 million, to R$1,667.7 million in the year ended December 31, 2020 from R$3,450.9 million in the year ended December 31, 2019 (representing 1.0% and 2.9% of operating revenue, net, respectively), </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Social Contribution Taxes </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Current </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Deferred</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">)</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s total income and social contribution taxes (current and deferred) decreased by 41.8%, or R$386.2 million, to an expense of R$537.0 million in the year ended December 31, 2020 from an expense of R$923.2 million in the year ended December 31, 2019 (representing 0.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% and 0.8% of operating revenue, net, respectively), due to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the reduction of income before income tax and social contribution for the reasons indicated above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">for the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Year</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s net income decreased by 55.3%, or R$1,397.0 million, to R$1,130.7 million in the year ended December 31, 2020 from R$2,527.7 million in the year ended December 31, 2019 (representing 0.6% and 2.1% of operating revenue, net, respectively), </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the reasons indicated above.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Legal and Administrative Proceedings of the Joint Venture</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Overview</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the ordinary course of business, Ra&#237;zen and its subsidiaries are parties to numerous judicial and administrative proceedings of a tax, civil, regulatory, environmental, criminal and labor nature, including proceedings with probable, possible and remote risks of loss.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the framework agreement which was entered into during the formation of the Ra&#237;zen joint venture, Ra&#237;zen has agreed that it will reimburse its shareholders, i.e., Cosan S.A. and Shell, or will be reimbursed by them, as applicable, for any amounts received or paid in connection with legal proceedings, provided that the triggering events for such payments or receipts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and provided that any such sums have actually been paid or received.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Ra&#237;zen and its subsidiaries were party to proceedings with a probable risk of loss involving an aggregate amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,763.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for which provisions have been made. Ra&#237;zen and its subsidiaries were also party to proceedings for which our risk of loss was deemed possible which involved an aggregate amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">21,929.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and for which no provision has been made.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and its subsidiaries constitute provisions for tax, civil, environmental and labor contingencies in which our risk of loss is considered probable, in accordance with IFRS. Determination of the likelihood of loss includes determination of available evidence, hierarchy of laws, jurisprudence available, more recent court decisions and relevance thereof in the legal system, as well as an evaluation by internal and external attorneys. Such provisions are reviewed and adjusted to take into account changes in circumstances, such as statute of limitations applicable, tax inspection conclusions or additional exposures identified based on new matters or court decisions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Below is a description of Ra&#237;zen and its subsidiaries</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> principal proceedings:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Corporate Income Taxes (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Imposto de Renda Pessoa Jur&#237;dica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IRPJ,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Social Contribution on Net Profits (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Contribui&#231;&#227;o Social sobre o Lucro L&#237;quido</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CSLL.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen has received:</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A tax assessment filed by the Brazilian federal tax authorities seeking to collect IRPJ and CSLL with regards to 2006 through 2009. The assessments challenged (1) the deductibility of certain amortization expenses and goodwill; (2) the offset of tax losses and the use of a negative calculation basis in connection with CSLL; and (3) certain taxes due in connection with discrepancies in the revaluations of certain assets. From January 2012 to October 2019, Ra&#237;zen appealed the tax assessment before the administrative tax court and obtained a partially favorable decision that canceled item (3) described above and reduced one of the fines from 150% to 75% in connection with item (2) above. In November 2019, Ra&#237;zen filed an annulment request before certain federal courts to discuss the remaining items of the tax assessment. This lawsuit is in the submission of evidence phase. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021, the aggregate amount under discussion was R$470.8 million, including interest and fines, which has been classified as having a possible risk of loss by external counsel. An insurance bond was issued to guarantee this amount.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A tax assessment relating to the amortization of goodwill deducted from the basis of IRPJ and CSLL in 2011 and 2012. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the total amount assessed by the Brazilian tax authorities, including interest and fines, was R$11</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of an unfavorable final decision in this proceeding has been classified as possible. As of the date of this annual report, this proceeding is pending judgment of the administrative appeal filed by Ra&#237;zen.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A tax assessment related to the amortization of goodwill deducted from the basis of IRPJ and CSLL in 2013 and 2014. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the total amount assessed by the Brazilian tax authorities, including interest and a 150% fine of the relevant goodwill expenses, was R$1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">13</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of an unfavorable final decision in this proceeding has been classified as possible. As of the date of this annual report, we are awaiting judgment by the administrative court.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A tax assessment related to the amortization of goodwill deducted from the basis of IRPJ and CSLL in 2015 and 2016. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the total amount assessed by the Brazilian tax authorities, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">including interest and a 150% fine of the relevant goodwill expenses, was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of an unfavorable final decision in this proceeding has been classified as possible. As of the date of this annual report, Ra&#237;zen is awaiting judgment by the administrative court.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A tax assessment related to the amortization of goodwill deducted from the basis of IRPJ and CSLL from 2013 to 2016. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the total amount assessed by the Brazilian tax authorities, including interest and a 150% fine of the relevant goodwill expenses, was R$4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">75</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.3 million. The risk of an unfavorable final decision in this proceeding has been classified as possible. As of the date of this annual report, we are awaiting judgment by the administrative court.</span></li>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 54pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certain of the alleged underlying facts in relation to the above occurred before the formation of the Ra&#237;zen joint venture on April</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1, 2011. Accordingly, the amounts relating to the facts which occurred prior to the formation of the Ra&#237;zen Joint Venture would be subject to reimbursement by shareholders in the event of an adverse decision. No provision has been made for these proceedings in our audited consolidated financial statements.</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Goodwill contributed in Ra&#237;zen Combust&#237;veis. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">This refers to tax assessments filed by the Brazilian federal tax authorities seeking to collect IRPJ and CSLL in connection with the amortization of goodwill derived from certain investments. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021, the total amount of the tax assessment relating to the amortization of goodwill in 2011 and 2012 was R$219.2 million, and the total amount of the tax assessment relating to the amortization of goodwill in 2014 was R$90 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. As of the date of this annual report, both proceedings are pending judgment of the administrative appeals filed by Ra&#237;zen. The third tax assessment relating to the amortization of goodwill in 2013 has been challenged by Ra&#237;zen before judicial courts since December 2019 (after the proceeding had been concluded in the administrative sphere</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. As of December 31, 2021, the total amount is R$160 million. The risk of loss with respect to the relevant assessments is estimated as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The alleged underlying fact occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011. Therefore, relevant amounts will be reimbursed by the shareholders in the event of an unfavorable decision.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Goodwill Ra&#237;zen Tarum&#227; (currently Ra&#237;zen Paragua&#231;u)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. This refers to tax assessments filed by the Brazilian tax authorities related to (1) the amortization of goodwill carried out from 2009 to 2012, in the total amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">62.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (as of December 31, 2020); and (2) amortization of goodwill carried out from 2013 to 2014, in the total amount of R$4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (in each case, as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">). As of the date of this annual report, both proceedings are pending judgment of the administrative appeals filed by Ra&#237;zen. Part of the alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1, 2011 and amounts relating to such facts are accordingly subject to reimbursement by shareholders in the event of an adverse decision.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Social Security Contributions.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In June 2010, Ra&#237;zen filed an ordinary action challenging the obligation to accrue the social security contributions tax based on gross revenue. The first instance court gave a partially favorable judgment. Currently, the case records are in the Court of Appeals awaiting judgment of the appeal filed by the Brazilian federal government against a partially favorable first-level decision. The risk of loss is classified as probable and as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the aggregate amount involved in these proceeding was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">562</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, for which Ra&#237;zen had recorded provisions, and the same amount had been judicially deposited (the two together therefore cancel each other out). The alleged underlying facts occurred both before and after the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders for a portion of any loss in the event of an adverse decision.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Tax on industrialized products.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Nine tax claims filed by the Brazilian federal government based on Normative Instruction No. 67/98 regarding the tax on industrialized products (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">imposto sobre produtos industrializados</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or IPI, allegedly due as a result of the removal of certain types of sugar from our facilities from 1992 to 1997, as the case may be. Three of the lawsuits are pending judgment by the lower court, while six of the lawsuits are pending judgment of the appeal filed by the attorney general against the lower court decision rendered in favor of Ra&#237;zen. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021, the aggregate amount involved in these proceeding was R$293.9 million and the risk of loss was classified as possible with respect to R$272 million and as remote with respect to R$21.5 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011. Therefore, relevant amounts will be reimbursed by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders in the event of an unfavorable decision.</span><span style="color: #1f497d; font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition to these tax claims, Ra&#237;zen is also a party to other proceedings regarding the IPI imposed on sugar products of certain polarity levels (sugar products with a polarity level of at least 99.5&#186; are exempt from IPI).</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Tax on industrialized products</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Based on Normative Instruction No. 67/98, we applied for the offset of tax debts with the Brazilian federal tax authorities. Tax credits were generated from undue payment in relation to certain of its products, as allowed by Normative Instruction No. 67/98. The offset was partially granted by the administrative trial court. However, the calculation of the amount of credit is still pending. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the amount involved in this proceeding was R$13</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss is classified as possible. The alleged underlying facts occurred before and after the formation of the Ra&#237;zen joint venture on April 1, 2011. Accordingly, the amounts involved in the lawsuit will be reimbursed by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders for a portion of any loss in the event of an unfavorable decision. No provision has been made for this proceeding in our consolidated financial statements.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">MP 470</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Brazilian federal tax authorities have partially rejected Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s application for payment of federal tax debts with carryforward losses, pursuant to the payment plan provided for by provisional measure No. 470/2009. The Brazilian federal tax authorities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> notice in this respect stated that Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s carryforward losses are not sufficient to offset the relevant debts. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the amount involved in this proceeding is R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">245.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and the chance of loss is possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">PIS and COFINS Credits.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Brazilian federal tax authorities issued tax assessment notices against Ra&#237;zen related to the allegedly undue use of PIS and COFINS credits. The proceedings refer to credits arising from the costs and expenses with goods and services directly associated with Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s activities and which were therefore deemed to be inputs. Part of the alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1, 2011 and amounts relating to such facts are accordingly subject to reimbursement by shareholders in the event of an adverse decision. Currently, the tax assessments are pending judgment by the administrative tax courts. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the aggregate amount involved in such proceedings was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">585</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. In relation to the use of credits of PIS and COFINS by Ra&#237;zen after the formation of the Ra&#237;zen joint venture on April 1, 2011 (and, therefore, these amounts will be reimbursed by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders in the event of an adverse decision), Ra&#237;zen has received tax assessment notices. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021, the aggregate amount involved in these proceedings is R$1,211 million. The risk of loss connected with PIS and COFINS credits is estimated as possible in each case</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ICMS &#8211; Diesel Oil.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Tax authorities of the state of S&#227;o Paulo have challenged the use of ICMS credits by Ra&#237;zen based on the understanding that Ra&#237;zen should have written off ICMS credits derived from the acquisition of diesel used in several stages of sugar production, including vehicles and machines from suppliers, because relevant credits were not directly associated with the main activity. In addition to this, it was alleged that Ra&#237;zen had failed to issue tax documents and had reported an incorrect amount of the ICMS due. In relation to the alleged actions that occurred before the formation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">joint venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on April 1, 2011, shareholders will reimburse Ra&#237;zen for a portion of any loss in case of an adverse decision. There are several ongoing administrative and judicial proceedings regarding the matter. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the aggregate amount involved was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">276</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. In relation to the alleged actions that occurred after the formation of the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> joint venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on April 1, 2011, Ra&#237;zen has received tax assessment notices, which are currently pending decision of the first and second administrative court. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the relevant amount in this proceeding was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">492</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss is classified as possible in each case. No provision has been made for this proceeding in our audited combined consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ICMS</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Tax assessment filed by tax authorities of the state of S&#227;o Paulo against Ra&#237;zen relating to ICMS based on allegations of (i) the acquisition and sale of goods without proper registration in the tax books and (ii) lack of registration of the fiscal documents that supported symbolic return of goods from warehouses. Ra&#237;zen obtained decisions from the lower administrative court and the administrative court of appeals that materially reduced the tax debt. As of the date of this annual report, the proceeding is pending a new judgment by the administrative tax courts, although the material reduction already obtained remains valid and has been reflected in the collection documents. The total amount involved as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">419</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011. Accordingly, these amounts would be reimbursed by shareholders in the event of an adverse </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">decision. No provision has been recorded for this proceeding in our audited consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ICMS &#8211; Jet Fuel (Ra&#237;zen Combust&#237;veis)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The state tax authority of Rio de Janeiro issued a tax assessment against Ra&#237;zen in order to charge ICMS in operations involving jet fuel. Tax authorities argue that a tax incentive granted by the state of Rio de Janeiro was not constitutional, based on a decision rendered by the Brazilian Federal Supreme Court.&#160; After the recognition that these debts could be subjected to a remission, a petition was filed and is still waiting for a decision. The amount involved is R$46</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The risk of loss is classified as possible. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by our shareholders in the event of an adverse decision. No provision has been made for this proceeding in our audited consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">CIDE &#8211; Technical Services (Ra&#237;zen Combust&#237;veis)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Ra&#237;zen filed a judicial lawsuit claiming that the Economic Intervention Contribution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CIDE</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is not levied on payments remitted abroad in connection with the import of technical services which do not involve the transfer of technology. It currently awaits a decision by the Brazilian Superior Court of Justice. The Brazilian federal tax authorities issued a tax assessment notice against Ra&#237;zen in order to charge a part of the CIDE tax debt under dispute. The risk of loss is classified as probable. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we recorded provisions in connection with this proceeding in the aggregate amount of R$39</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and have also deposited in an escrow account the same amount. As all our exposure is already guaranteed by the judicial deposit, there would be no cash impact from an adverse decision. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by our shareholders in the event of an adverse decision.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">WHT &#8211; Technical Services (Ra&#237;zen Combust&#237;veis)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The Brazilian federal tax authorities filed a judicial tax enforcement proceeding to charge WHT on payments made to a company domiciled in the Netherlands in connection with the rendering of technical services without the transfer of technology. The amount under dispute in the tax enforcement as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is R$4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">42</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and Ra&#237;zen presented a surety bond, that is under discussion, in order to continue to litigate. It is possible that judicial deposits may be due in the amount of R$430 million depending on the outcome of this guarantee discussion. The first level decision was unfavorable and an appeal has been filed. The risk of loss is classified as possible. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by our shareholders in the event of an adverse decision.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">PIS and COFINS Offsets (Ra&#237;zen Combust&#237;veis)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The Brazilian federal tax authorities filed a tax assessment to charge PIS and COFINS for the years 2006 to 2009 in connection with unauthorized offset of tax debts made by Ra&#237;zen. Ra&#237;zen obtained a partially favorable decision from the first-tier administrative court, and tax authorities filed an appeal to the second-tier administrative court that is still pending a decision. The amount under dispute as of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was R$6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss is classified as possible. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders in the event of an adverse decision. No provision has been made for this proceeding in our audited consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">PIS and COFINS (Ra&#237;zen Combust&#237;veis)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The Brazilian federal tax authorities filed a couple of judicial tax enforcement proceedings in order to charge PIS and COFINS debts originating from refund and offsetting claims made by Ra&#237;zen. The amount under dispute as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">75</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and Ra&#237;zen presented a surety bond in order to continue to litigate. The risk of loss is classified as possible. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders in the event of an adverse decision. No provision has been made for this proceeding in our audited consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Corporate Income Taxes &#8211; Goodwill Amortization (Ra&#237;zen Combust&#237;veis)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The Brazilian federal tax authorities issued a tax assessment notice in order to charge corporate income taxes for the years 2004 to 2006 and penalties due to the deductibility of goodwill amortization expenses triggered by the merger of Enterprise Oil Ltda. by Shell Brasil Ltda. (currently named Ra&#237;zen Combust&#237;veis). After a decision at the final level administrative tax court, the proceeding returned to the first-tier administrative tax court for a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">new decision. After an unfavorable decision, an Appeal was filed and the Tax Administrative Court reduced drastically the penalties imposed, decreasing the total amount by approximately 60% that is still under litigation to Special Court of Appeals at CARF.&#160; The amount in dispute is R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">428</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The risk of loss is classified as possible. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by our shareholders in the event of an adverse decision. No provision has been made for this proceeding in our audited consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Labor Public Civil Action No. 0000642-29.5-01.003. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen Paragua&#231;&#250; Ltda. (formerly known as Ra&#237;zen Tarum&#227; Ltda.), among other defendants, is a party to a civil public action filed by the Labor Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the city of Rio de Janeiro in the state of Rio de Janeiro relating primarily to the following matters: (1) exposure of employees to conditions that are allegedly degrading, (2) alleged irregularities in the outsourcing practices of the companies and (3) alleged noncompliance with health and safety rules and regulations relating to working hours. The Labor Court ruled the case groundless in the first instance. The Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of Rio de Janeiro and Ra&#237;zen appealed against the decision to the Regional Labor Appeals Court. The risk of loss is classified as possible. Should the proceedings be decided against Ra&#237;zen, this may result in Ra&#237;zen being barred from outsourcing certain core activities, an obligation to comply with certain health and safety rules as well as rules applicable to employees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> working hours, the imposition of pecuniary fines in case of noncompliance and indemnification for the violation of employees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> rights (including collective moral damages) in an amount of R$5.7 million. The alleged underlying facts occurred before the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to reimbursement by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders for a portion of any loss in the event of an adverse decision. No provision has been made for this proceeding in our audited consolidated financial statements.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Labor Public Civil Action</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Ra&#237;zen and certain of its subsidiaries are defendants in a confidential labor public civil action filed by the Labor Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office in relation to allegations of discrimination by Ra&#237;zen in the hiring of certain former employees. The Labor Court ruled against Ra&#237;zen in the first instance. Ra&#237;zen has appealed against the decision to the Regional Labor Appeals Court. The risk of loss is classified as remote.&#160; Should the proceedings be decided against Ra&#237;zen, this may result in the imposition of collective moral damages in an amount of R$3 million plus interest as provided by law &#8211; such amount corresponding to a reduction of the initial claimed amount of R$10 million ruled by the Labor Court in the first instance. The alleged underlying facts occurred before and after the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, these amounts would be subject to partial reimbursement by our shareholders for a portion of any loss in the event of an adverse decision. No provision has been made for this proceeding in our audited consolidated financial statements.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Proceedings from Unions and Former Employees. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and its subsidiaries are defendants in certain legal proceedings brought by unions and former employees relating to amounts claimed to be due in connection with overtime and other labor rights allegedly breached by the company. These proceedings involve an aggregate amount of R$567.5 million. Of this total amount, Ra&#237;zen has constituted a provision of R$358 million for proceedings with a probable chance of loss. An amount of R$75.2 million of this provision is subject to reimbursement to Ra&#237;zen by Cosan.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Civil Public Action in connection with ethanol adulteration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to a civil public action filed by the State Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the State of Rio de Janeiro in 2017, which charges Ra&#237;zen with selling hydrous ethanol adulterated with methanol to resale stations in the State. The suit seeks the forfeiture of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s state registration and to annul all tax incentives granted by the State to Ra&#237;zen. The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">trial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">court </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">dismissed the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">case without resolving the merits, as it held that the topic matter could</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">not be discussed in a civil public action. The State Prosecutor&#8217;s Office filed an appeal against this</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">decision, which</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is pending</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">adjudication</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The risk of loss has been classified as remote, as Ra&#237;zen was a victim of a fraudulent scheme from a supplier, which has been </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">found guilty</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in an indemnity lawsuit filed by Ra&#237;zen. We are unable to estimate the potential amount of losses for Ra&#237;zen if the request of the State Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the State of Rio </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">de Janeiro is accepted and its </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">state registration is revoked and all tax incentives granted by the State of Rio de Janeiro are declared null and void</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Proceedings against City of Rio de Janeiro</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Ra&#237;zen is party to proceedings commenced by the City of Rio de Janeiro in 2021, in which the City seeks an injunction to suspend the effectiveness of the agreements </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">signed by BRT Rio S.A. with Ra&#237;zen, including two loan agreements, a fuel supply agreement, and an </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">agreement for the fiduciary assignment of receivables. If this case is decided against Ra&#237;zen, the impacts for us would be (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">loss of credits related to the loan agreements (approximately R$20.0 million), (ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">loss of the exclusivity on the fuel supply and (iii) any reputational impact depending on allegations of irregularities in the agreements. The risk of loss has been classified as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Procon proceedings</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to additional proceedings commenced by PROCON Manaus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (a consumer protection body)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2019, in which PROCON Manaus seeks an injunction ordering Ra&#237;zen to pass onto consumers a 14.56% discount in fuel prices, and to submit a detailed report with invoices and expenses of the values </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">charged in gas stations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and to distributors. This proceeding involves an aggregate amount of R$5.2 million as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The risk of loss has been classified as possible.</span></li>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">109</span></td>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Brazilian Bar Association, Amazonas Section, proceedings</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">party to proceedings commenced by the Brazilian Bar Association, Amazonas Section (Ordem dos Advogados do Brasil &#8211; Seccional do Estado do Amazonas), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">OAB/AM,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2020. OAB/AM charges </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">with failing to pass on certain price discounts announced by Petrobras to consumers. The amount at issue in this proceeding cannot be quantified. The risk of loss has been classified as remote.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Banco </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cruzeiro</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> do Sul S.A. proceeding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to proceedings commenced by Banco Cruzeiro do Sul S.A. in 2008, seeking the annulment of an amendment to an agreement for the purchase and sale of 45,000 m&#179; of anhydrous ethyl alcohol, entered into on May 28, 2007, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">between</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Companhia Brasileira de A&#231;&#250;car e &#193;lcool</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ben&#225;lcool A&#231;&#250;car e &#193;lcool S.A. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Bauche Energy Brasil Comercial, Importadora e Exportadora Ltda. Banco Cruzeiro do Sul S.A. claims that such amendment amounted to a default on the guarantees granted by Companhia Brasileira de A&#231;&#250;car e &#193;lcool. This proceeding involves an aggregate amount of R$18</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss has been classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Proceedings related to governmental payment orders (precat&#243;rios)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to proceedings commenced by &#193;lvaro Roque Cardoso and others in 2015. Plaintiffs claim </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">should pay them certain amounts that we</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">re</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> received </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">from</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian government through governmental payment orders (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">precat&#243;rios</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">). Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">has</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> deposi</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ted the undisputed amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">34 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">controversy persists </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">only </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">with respect to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">outstanding amount of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">43</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. This proceeding involves an aggregate amount of R$1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">81.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> with respect to the disputed amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">43.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million has been classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Civil Action against the State of Ceara.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to a civil public action filed by State Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the State of Cear&#225; in 2015, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">seeking</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the forced transfer of all fuel distributors from the Port of Mucuripe to an industrial complex to be developed in the Port of Pec&#233;m. Ra&#237;zen has committed to transfer its operations to the Port of Pec&#233;m as soon as the infrastructure constructions are completed</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and judicial confirmation of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">such</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">commitment is pending</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The risk of loss has been classified as remote.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Proceedings in connection with the Fuel Center at the Aeroporto Internacional de Guarulhos S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is a plaintiff</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, alongside Petrobr&#225;s Distribuidora S.A. and Air BP Brasil Ltda., in two proceedings commenced in 2020: one against Gran Petro Distribuidora de Combust&#237;veis Ltda.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gran Petro,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Concessionaria do Aeroporto Internacional de Guarulhos S.A.,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or &#8220;GRU Airport,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and a second proceeding against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the National Civil Aviation Agency of Brazil (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ag&#234;ncia Nacional de Avia&#231;&#227;o Civil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or &#8220;ANAC.&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Plaintiffs seek </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to protect the investment made in the fuel center at the Guarulhos International Airport by preventing the forced entry of a competitor without having followed proper financial, operational and security procedures. The amount at issue in these proceedings cannot be quantified. The risk of loss has been classified as possible.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In this same context, we are defendants in a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> c</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">laim</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for damages brought in 2021 by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gran Petro foundation before the Court of The Hague, Netherlands, against Shell,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Shell Holding and Ra&#237;zen S.A. The p</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">laintiff claims that Gran Petro assigned its rights to certain indemnification claims to the plaintiff in connection with anti-competitive conduct related to Gran Petro&#8217;s entry into </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">GRU Airport</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and the aviation market. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In 2021, a third proceeding was filed against Gran Petro, GRU Airport and AN</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">AC to preserve airport security</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a favorable inju</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ction granted by the trial court. The amount at issue in these proceedings cannot be quantified. The risk of loss h</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as been classified as possible.</span></li>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Civil proceedings of environmental nature</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to a civil public action filed by the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office in 2019, in which an injunction is sought to prevent construction and suspend certain </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">vegetation suppres</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sion and installation licenses at the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> S&#227;o Luis distribution </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">site</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. In addition to the detrimental effect of further construction being suspended and licenses being discontinued, the proceeding also exposes </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to a risk of having to cover an aggregate amount of R$0.5 million in relation to legal fees. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> may suffer adverse effects from both a financial and a reputational perspective. The risk of loss has been classified as possible. Additionally, Ra&#237;zen is party to an administrative proceeding filed by the Superintendence of the Institute for National Historic and Artistic Heritage (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Instituto do Patrim&#244;nio Hist&#243;rico e Art&#237;stico Nacional</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IPHAN,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2018. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> charged with building port </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">facilities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">without IPHAN</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s prior consent. This may result in impacts on Petr&#243;leo Sabb&#225;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operations as a result of a motion </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">filed by IPHAN, and lead to further civil and criminal charges. The risk of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">loss had been </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">initially classified as possible. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">However, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">fter IPHAN</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s notification of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a stop order with respect to all aspects of the port construction</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Ra&#237;zen presented a defense </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">seeking </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">limit the stop order to just certain aspects of the construction</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">while also presenting </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">information requested by IPHAN, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">including</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">soil geological survey</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">construction work project and schedule, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">georeferenced plant highlighting the priority areas for the construction work projec</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">summary of field activities/ intervention</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, in each case</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rder to avoid a total embargo. S</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ubsequently, an administrative proceeding was filed by the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">public </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prosecutor&#8217;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> office </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in order to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">monitor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the construction project. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> administrative proceeding was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">initiated</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">due to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a complaint </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> alleged violation of environmental laws </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as a result of the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> installation of the port</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> building</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Ra&#237;zen has presented a statement </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of compliance with laws and due process for environmental licensing before the relevant environmental agencies with respect to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Petr&#243;leo Sabb&#225;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">properties</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. In addition, an Archeological Heritage Management Program (PGPA) has been registered </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">with the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IPHAN office, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and IPHAN has already </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">approved the report. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">T</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he current risk of loss is remote. Ra&#237;zen is party to a civil public action filed by the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office in 2012, seeking recovery of at least R$25 million for environmental damages related to the burning of sugarcane straw in 2007 in the city of Piracicaba in the state of S&#227;o Paulo. The risk of loss has been classified as possible.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Finally, Ra&#237;zen has been investigated in approximately five civil investigations and is a party to five public civil actions filed by the State Prosecutor&#8217;s Office of Minas Gerais, between 2018 and 2022, relating to the operation by Biosev of sugarcane plantations without a license. Among these actions, Ra&#237;zen is a party in a public civil action filed in 2020 by the State Prosecutor&#8217;s Office of Minas Gerais State, seeking recovery of R$25 million for damages due to the operation of sugarcane plantations in permanent preservation areas without</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a license. The risk of loss has been classified as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Antitrust proceedings</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. (i) Ra&#237;zen and several other companies are party to an administrative proceeding commenced by Gran Petro with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2014, in which we are charged with limiting competition in the aviation fuel market at the Guarulhos International Airport in S&#227;o Paulo. If this case is decided against us, we may be subject to a fine. The proceeding was forwarded to the Administrative Council for judgment with a favorable vote to us from the rapporteur and a request for review by another commissioner, without expected of conclusion of the judgment. The risk of loss has still been classified as possible. In addition, we are the plaintiff of a judicial proceeding related to the matters described above against Gran Petro; (ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">party to an administrative inquiry commenced by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ex officio in 2020, which investigates price fixing practices by retail gas stations bearing the Shell brand. We may be subject to administrative penalties, including a fine of 0.1% to 20% of group-wide gross revenue, for the year preceding the commencement of proceedings, in the industry in which the violation occurred. The risk of loss has been classified as possible; (iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and several other companies are party to an administrative proceeding commenced by Jos&#233; Antonio Machado Reguffe with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2020. This proceeding is related to Operation Dubai, a Brazilian Federal Police operation against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">fuel </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">distributors and resellers investigating collusive distribution and resale of fuels in the Federal District, including through uniform commercial conduct, artificial price fixing, exchange of sensitive information, buyer discrimination, market division and cartel formation. We may be subject to administrative penalties, including a fine of 0.1% to 20% of group-wide gross revenue, for the year preceding the commencement of proceedings, in the industry in which the violation occurred. The risk of loss has been classified as possible; (iv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and several other </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">subsidiaries of ours</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">are party to an administrative proceeding commenced </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ex officio</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2019 investigating anticompetitive conduct in the formation of bidding consortiums to participate in auctions for the lease of certain port terminals. The risk of loss has been classified as possible; (v)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is a plaintiff in judicial proceedings commenced against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2015. We seek to annul a R$26 million penalty imposed by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on us after charging us with price fixing in the cities of Bauru and Mar&#237;lia. The amount at issue in this proceeding as of December 31, 2021 was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$40.7 million. The risk of loss has been classified as probable; and (vi)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is a plaintiff in further judicial proceedings commenced against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2015. Ra&#237;zen seeks to annul a R$31 million penalty imposed by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> after charging it with price fixing in the city of S&#227;o Carlos. The amount at issue in this proceeding as of December 31, 2021 is R$47.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss has been classified as probable.</span></li>
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<p style="margin: 0px; break-after: avoid; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Criminal Actions and Investigations Involving Ra&#237;zen </span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental Criminal Action</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">According to article 225, paragraph 3, of the Brazilian Federal Constitution and Law No. 9,605/98, legal entities may be subject to criminal and administrative sanctions if they engage in environmentally damaging actions. In addition, entities which engage in such actions may also be required to repair the environmental degradation caused. Under the terms of article 21 of Law No. 9,605/98, legal entities are subject to fines, penalties restricting rights and community service obligations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is party to a criminal proceeding filed by S&#227;o Paulo Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office in 2020 for the alleged practice of destroying or damaging protected forest areas or using them in violation of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">applicable environment protection</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">norms</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, as a result of a fire that occurred at the Fazenda Palmital, leased by us for the cultivation of sugarcane, which would have caused damage to both agro-pastoral areas and areas of permanent preservation.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">public p</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s office</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">filed a complaint</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against Ra&#237;zen and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> one of its</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">who was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">responsible for the fire brigade. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> risk of loss was initially classified as possible. However, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and its employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> presented </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">defenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">requesting</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">annulment </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of the accusation due to lack of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">forensic report and requesting the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ir</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> acquittal</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Moreover, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and its employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> clarified </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">that there was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">no </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">omission on the part of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ra&#237;zen, which ha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">every interest</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in fighting the fire and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">invested in the adoption of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">numerous</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> environmental </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">best </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">practices</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, among other factors leading up to Ra&#237;zen and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s acquittal. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result, the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> court judge</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">dismissed</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the claim </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">lack of materiality. The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">public </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s office</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> presented an appeal</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">its employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> offered objections. The case </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">currently</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> awaits judgment </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">on appeal </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Appellate Court </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of the State of S</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#227;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">o Paulo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The chances of reversal of the decision </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">that was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">favorable to Ra&#237;zen and its employee </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">have been</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> classified as remote.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Criminal Investigations involving Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">s employees</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2018, the Civil Police of the state of Paran&#225; launched Operation Controlled Margin to investigate the alleged involvement of Ra&#237;zen, among other distributors, in a scheme to control the final price of fuel sold in service stations located in such region. On the same date, search and seizure warrants were executed and three of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s employees were temporarily arrested. Such arrest warrants were withdrawn after three days and there have been no further actions related to such operation. Restrictive measures previously in place were cancelled in 2019. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2018, in connection with Operation Dubai, the Public Prosecutor&#8217;s Office of the Federal District filed a complaint against, among other parties, one employee of Ra&#237;zen in relation to certain alleged anticompetitive practices. In said complaint, the Public Prosecutor&#8217;s Office of the Federal District requested that certain assets and funds of Ra&#237;zen and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of such </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen&#8217;s employee in an amount of approximately R$120 million be frozen. However, Ra&#237;zen successfully contested the freezing of assets. If </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">employee of Ra&#237;zen is convicted, we may suffer reputational harm. This proceeding involves an aggregate amount of R$151.7 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to us and our employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and a total amount at issue of R$996.7 million. The risk of loss has been classified as possible.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is currently the subject of a criminal investigation, which commenced with an administrative proceeding before </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in 2009 against certain resellers and distributors. The proceeding is related to the alleged artificial price fixing of fuel and the alleged formation of a cartel among fuel distributors and resellers in the Brazilian Federal District in order to establish regional market control. In 2012, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> issued a technical note that alleged the existence of cartels within the sector. In November 2015, the Brazilian federal police executed search and seizure warrants against certain resellers and fuel distributors, including Ra&#237;zen at its distribution terminal in Bras&#237;lia. Ra&#237;zen is cooperating with Brazilian authorities in connection with the investigation, which is currently ongoing. As of the date of this annual report, no individual (including gas station owners) indicted in connection with the investigation has any relationship or affiliation with Ra&#237;zen. On June 30, 2020, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> issued a technical notice, which we are currently evaluating, commencing an administrative proceeding involving resellers and fuel distributors, including Ra&#237;zen. If Ra&#237;zen or any of its </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">employees are determined to have been involved in the misconduct, Ra&#237;zen may be subject to penalties, including fines.</span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B4A_85RC0IQPKW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 4A. Unresolved Staff Comments</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">None.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI5_8BSKLX0T7K00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 5. Operating and Financial Review and Prospects</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following discussion of our financial condition and results of operations should be read in conjunction with our audited consolidated financial statements for the fisc</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">al years ended December 31, 2021, 2020 and 2019</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, as well as with the information presented under the sections entitled </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Presentation of Financial and Other Information</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;A. Selected Financial Data.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those discussed in the forward-looking statements as a result of various factors, including those set forth in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Forward-Looking Statements</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;D. Risk Factors.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following discussion and analysis of our financial condition and results of operations presents the following:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a brief overview of our company and the principal factors that influence our results of operations, financial condition and liquidity;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a review of our financial presentation and accounting policies, including our critical accounting policies;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a discussion of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">main</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> factors that influence our results of operations;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a discussion of developments that may materially affect our results of operations, financial condition and liquidity;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a discussion of our results of operations for the fis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> compared with the fis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and for the fiscal </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">year ended December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> compared with the fiscal year ended December 31, 201</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a discussion of our liquidity and capital resources, including our working</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> capital as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, our cash flows for t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he years ended December 31, 2021, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">019</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and our material short-term and long-term inde</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">btedness as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a discussion of our contractual commitments.</span></li>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Financial Presentation and Accounting Policies</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Presentation of Financial Statements</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We have included in this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the consolidated financial statements as of and for the year ended December 31, 2021 of Cosan S.A., and the consolidated financial statements as of and for the years ended December 31, 2020 and 2019 of Cosan Limited</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the former parent company of Cosan and Cosan Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">We applied the predecessor accounting method to the consolidated financial statements of Cosan S.A. as of and for the year ended December 31, 2021 included in this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as further discussed under </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Presentation of Financial and Certain Other Information&#8212;Financial Statements.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We use IFRS as issued by the IASB for financial reporting purposes. Investments in entities which the Company does not control, but either jointly controls or has significant influence over, are accounted for using the equity method. The results of operations of Ra&#237;zen Energia and Ra&#237;zen Combust&#237;veis, our Joint Ventures, are accounted for using th</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e equity method, under IFRS 11.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Presentation of Financial and Certain Other Information.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Business Segments and Presentation of Segment Financial Data</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We present the following reportable segments:</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1)&#160; &#160; &#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">operates in the production of sugar, ethanol and bioenergy. Ra&#237;zen is an integrated producer of energy from renewable sources such as biomass and solar energy, and also invests in technologies that will allow it to intensify the use of biomass in its portfolio. In addition, Ra&#237;zen distributes and sells fuels under the &#8220;Shell&#8221; brand, supplying a network of service stations, airport refueling sites and business-to-business customers in Brazil and Argentina, where it also refines oil, manufactures and sells automotive and industrial lubricants, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">produces and sells liquefied petroleum gas. Ra&#237;zen&#8217;s operations also include the Shell Select convenience stores and the OXXO proximity stores of Grupo N&#243;s, a joint venture with FEMSA Com&#233;rcio</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Following the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">corporate reorganization of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen completed on June 1, 2021, our senior management started to consider Ra&#237;zen as a single reportable segment.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Accordingly, our previously reported segment information has been recast for all periods presented to reflect the changes in the reportable segments. For further information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;Presentation of Financial and Other Information&#8212;Certain Corporate Events&#8212;Consolidation of Ra&#237;zen,&#8221; &#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 4. Information on the Company&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B. Business Overview&#8212;Ra&#237;zen,&#8221; &#8220;Item 4. Information on the Company&#8212;E. Supplemental Information About Joint Venture&#8221; and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">note 5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> &#8220;Segment Information&#8221; to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements for the fiscal years ended December 31, 2021, 2020 and 2019, included elsewhere in this annual report;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (formerly the Comg&#225;s segment): (i) distribution of piped natural gas in part of the state of S&#227;o Paulo to customers in the industrial, residential, commercial, automotive and cogeneration sectors through Comg&#225;s; and (ii) the sale of electricity, comprising the purchase and sale of electricity to other traders, to consumers who have a free choice of supplier and to other agents permitted by law. Our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> segment was created in March 2020. Prior to that, our natural gas distribution operations were concentrated in our Comg&#225;s segment, which was contributed to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> segment. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our financial condition for the historical periods prior to January 1, 2020 discussed in this presentation do not reflect the creation of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which was completed in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(3)<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove: production and distribution of lubricants under the Mobil brand in Brazil, Argentina, Bolivia, Uruguay, Paraguay, the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">United States of America and certain European countries</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, as well as in the European and Asian markets under the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comma</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> trademark and corporate activities;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(4)<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics: logistics services for rail transportation, storage and port loading of commodities, mainly for grains and sugar, leasing of locomotives, wagons and another railway equipment; </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(5)<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Investments: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">management of agricultural properties, mining and logistics projects and investment in the Climate Tech Fund, a fund managed by Fifth Wall, specializing in technological innovation; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate: digital platform for logistics services and other investments, in addition to the corporate activities of the Company. This segment includes the financing subsidiaries for the Cosan </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">G</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">roup.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Critical Accounting Policies and Estimates</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The preparation of the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses at the end of the reporting period. Actual results may differ from these estimates. Such estimates and underlying assumptions are reviewed on an ongoing basis and changes are recognized in the period in which the estimates are revised and in any future periods affected.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Summary information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements is included as follows (see note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.2 to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements for the fiscal years ended December 31, 2021, 2020 and 2019, included elsewhere in this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for further information):</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Recognized fair value measurements</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> When the fair value of financial assets and liabilities recorded in the consolidated financial statements cannot be derived from active markets, their fair value is determined using </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">valuation techniques including the discounted cash flow model. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgment is required in determining fair values. Judgment is required in the determination of inputs such as liquidity risk, credit risk and volatility. Changes in assumptions on these factors could affect the reported fair value of financial instruments.</span><br/></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Investment in joint ventures</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">We have</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">44.02%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> interest in a joint agreement. The joint venture agreements require unanimous consent from all parties for all relevant activities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The two partners have direct rights to the assets of the partnership and are jointly and severally liable for the liabilities incurred by the partnership. This entity is therefore classified as a joint venture and the Company recognizes its interest in the joint venture using the equity method.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Property, plant and equipment, and intangible assets and goodwill. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The calculation of depreciation and amortization of intangible assets and property, plant and equipment is based on estimated useful lives. In addition, the determination of the fair value of intangible assets and property, plant and equipment acquired in a business combination or arising from the formation of a Joint Venture is a significant estimate.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We perform a review of impairment indicators for intangible assets and property, plant and equipment on a yearly basis. Also, an impairment test is undertaken for goodwill. Impairment exists when the carrying value of an asset or cash-generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Commitments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. We have entered into commercial property leases in relation to our investment property portfolio. We have determined, based on an evaluation of the terms and conditions of the arrangements, such as the lease term not constituting a substantial portion of the economic life of the commercial property and the present value of the minimum lease payments not amounting to substantially all of the fair value of the commercial property, that we retains all the significant risks and rewards of ownership of these properties and account for the contracts as operating leases.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sector financial asset and liability</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Sector financial assets and liabilities are intended to offset the economic impacts on profit or loss of Comg&#225;s which arise from the difference between the cost of gas, the rates set by the administrative rulings issued by ARSESP, and the effective cost incurred by the Company, which will have to be adjusted through tariff review.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">These differences between actual cost and cost considered in the tariff adjustments generate a right to the extent that the actual cost is higher than the cost specified in the tariff, or an obligation, when the actual costs are lower than those per the tariff. The differences are considered by ARSESP in the subsequent tariff adjustment and are included in Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s tariff adjustment index.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As provided in Resolution No. 1,010</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">published by ARSESP, Comg&#225;s will be reimbursed for any balances existing at the end of the concession period or such balances will be returned to users within the period of 12 months before the end of the concession period, depending on whether the balances in regulatory accounts will be monetized and/or settled once they are included in the tariff on a prospective basis, which is determined upon each ARSESP ruling (which typically occur every quarter). The balance consists of: (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the previous cycle (under amortization), which represents the balance approved by ARSESP already included in the tariff, and (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the cycle being constituted, which includes the differences to be approved by ARSESP in the next tariff adjustment.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Income tax</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A deferred tax asset is recognized for loss carryforwards to the extent that it is probable that future taxable income will be generated to use such losses. Significant judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the timing and the level of future taxable income together with tax planning strategies.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Provisions for legal proceedings</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Provisions for legal proceedin</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gs resulting from business combinations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e estimated at fair value.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Post-employment benefits</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The cost of defined benefit pension plans and other post-employment benefits and the present value of the pension obligation is determined using actuarial valuations. An actuarial valuation involves the use of various assumptions which may differ from actual results in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. A defined benefit obligation is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">highly sensitive to changes in these assumptions. All assumptions are reviewed by management at each reporting date.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Share-based payment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Cosan S.A. measures employees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> share-based compensation cost by reference to the fair value of the shares at the grant date. The estimation of fair value for share-based payment transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the plan. This estimate also requires determining the most appropriate inputs to the valuation model including the assumption of the expected life of the stock option, volatility and dividend yield.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Recently Issued Accounting Standards</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">No new accounting standards or amendments that came into effect in the year ended December 31, 2021 have had a material impact on the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s financial statements. There are no other standards and interpretations issued but not yet adopted that may, in the opinion of management, have a significant impact on the results or equity disclosed by the Company.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Principal Factors Affecting Our Results of Operations</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition to the factors that are described in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 4. Information on the Company&#8212;B. Business Overview,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> our results of operations have been influenced and will continue to be influenced by the following key factors:</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Impact of COVID-19</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are closely monitoring the evolution of the COVID-19 pandemic in Brazil and globally, in order to take preventive measures to minimize the spread of the virus, ensure the continuity of operations and safeguard the health and safety of our personnel. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Impact of COVID-19</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for information on the impact of the COVID-19 pandemic on our business and also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8211;D. Risk Factors</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;Our business, operations and results may be adversely impacted by COVID-19.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Brazilian Economic Environment</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian economic environment has historically been characterized by significant variations in economic growth, inflation and currency exchange rates. Our results of operations and financial condition are influenced by these factors and the effect that these factors have on employment rates, the availability of credit and average wages in Brazil. The following table sets forth Brazilian inflation rates, interest rates, and exchange rates for the periods indicated:</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended December 31,</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#8206;</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">GDP growth</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.6%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(4.1)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.1%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Inflation (IGP M)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">17.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">23.1%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7.3%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Inflation (IPCA)(1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10.1%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.5%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.3%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interbank rate &#8211; CDI (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.4%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.4%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Long term interest rates (3)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.3%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.6%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.6%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Exchange rate at the end of the period per U.S.$1.00</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.58</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">R $</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">R $</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.03</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Average exchange rate per U.S.$1.00</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">R $</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.40</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">R $</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.16</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">R $</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3.95</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Appreciation (depreciation) of the real against the U.S. dollar (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(7.4)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(28.9)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(4.0)%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8206;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<p style="margin: 0pt 0pt 5pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Sources</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: IBGE, Brazilian Central Bank, B3 and Fundac&#227;o Get&#250;lio Vargas, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">FGV.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 2%;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="width: 98%;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">IPCA is a consumer price index calculated by IBGE.</span></td>
</tr>
<tr>
<td><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CDI refers to the average overnight interbank loan rates in Brazil.</span></td>
</tr>
<tr>
<td><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</span></td>
<td><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The Brazilian long</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8209;</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">term interest rate (</span><span style="color: #000000; font-size: 10pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-style: italic;">taxa de<span>&#160;</span>juros<span>&#160;</span>de<span>&#160;</span>longo<span>&#160;</span>prazo</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">), or<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8220;</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">TJLP,</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8221;</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>is the rate applicable to long</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8209;</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">term loans by BNDES.</span></td>
</tr>
<tr>
<td style="margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(4)</span></td>
<td><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Comparing the PTAX exchange rate (the rate calculated by the Brazilian Central Bank) at the end of the period</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s last day with the day immediately prior to the first day of the period discussed, PTAX is the exchange<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">rate calculated at the end of each day by the Brazilian Central Bank. It is the average rate of all business conducted in U.S. dollars on the determined date in the interbank exchange market.</span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><br/></p>
<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;"><span style="font-size: 10pt;" class="pageno">116</span></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: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Any deterioration in Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rate of economic growth, or changes in interest rates, the unemployment rate or price levels generally, may limit the availability of credit, income and purchasing power of our customers, thereby adversely affecting demand for our products.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Furthermore, a resurgence of the COVID-19 pandemic could cause disruptions to local supply chains, impact businesses generally and weaken demand from consumers. The COVID</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8209;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">19 pandemic is ongoing and we cannot predict whether it will have further significant effects on the economic conditions in Brazil and the other markets in which we operate during 2022 and future years, nor whether and to what extent economic conditions will improve in 2022 or thereafter.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to the Countries in Which We Operate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Acquisitions, Partnerships and Corporate Restructurings</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our strategy is to be a leading Brazilian group in the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">energy and logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> sectors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. For this reason, since May 2004, we have expanded our operations primarily through acquisitions, partnerships and corporate restructurings. We have also diversified into other operations to become a vertically integrated </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">energy and logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> company. As a result, our net sales and gross profit have increased significantly.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Sugar</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The profitability of our sugar products is mainly affected by fluctuations in the international price of raw sugar and in the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">/dollar exchange rate. International raw sugar prices are determined based on the New York Board of Trade Futures Contract No. 11, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">NY11.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Refined sugar trades at a premium to raw sugar, known as the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">white premium,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and its price is determined based on the London International Financial Futures and Options Exchange Contract No. 5, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">LIFFE No. 5.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Prices are affected by the perceived and actual supply and demand for sugar and its substitute products. The supply of sugar is affected by weather conditions, governmental trade policies and regulations, and the amount of sugarcane and sugar beet planted by farmers, including substitution by farmers of other agricultural commodities for sugarcane or sugar beet. Demand is affected by growth in worldwide consumption of sugar and the prices of substitute sugar products. From time to time, imbalances may occur between overall sugarcane and sugar beet processing capacity, sugarcane and sugar beet supply and the demand for sugar products. Prices of sugar products are also affected by these imbalances, which, in turn, impact our decisions regarding whether and when to purchase, store or process sugarcane and whether to produce sugar or more ethanol.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below sets forth the prices for raw sugar NY11 for the periods indicated:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<thead>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Sugar NY11</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(U.S.$/lb.)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 56%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Initial quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1576</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1313</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1193</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Closing quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1888</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1549</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1342</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Daily average quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1787</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1287</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1234</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
</tr>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">High quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.2042</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1578</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1355</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Low quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1471</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.0921</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1076</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<p style="margin: 0pt 0pt 12pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Source</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: NYBOT; prices from the 1st Generic Future. Bloomberg.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Ethanol</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our ethanol products are affected by domestic Brazilian and international prices of ethanol, competition, governmental policies and regulations, and market demand for ethanol as an alternative or additive to gasoline. The price for ethanol we sell in Brazil is set in accordance with market prices, using indices published by the Agriculture School of the University of S&#227;o Paulo (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Escola Superior de Agricultura Luiz de Queiroz&#8212;ESALQ</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) and B3 as a reference. Prices for ethanol we export are set based on international market prices, including the New York Board of Trade</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s recently launched ethanol futures contract. Prices for the industrial alcohol and bottled alcohol products we sell are also set based on market prices and have been historically higher than market prices for ethanol.</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">117</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below sets forth the prices for hydrous ethanol in the Brazilian market for the periods indicated:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 173px;" width="100%">
<thead>
<tr style="background-color: #cceeff; height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Hydrous Ethanol ESALQ</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr style="background-color: #cceeff; height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(U.S.$/thousand liters)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 56%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Initial quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">387.80</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; width: 2%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">507.50</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 2%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">443.20</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Closing quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">591.80</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">393.40</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">496.30</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Daily average quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">549.55</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">356.97</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">443.78</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Monthly average quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">548.54</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">356.47</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">443.82</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">High quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">695.80</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">508.10</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">507.90</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Low quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">387.80</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">237.60</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">407.10</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<p style="margin: 0pt 0pt 12pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Source</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: ESALQ.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below sets forth the prices for anhydrous ethanol in the Brazilian market for the periods indicated:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 156px;" width="100%">
<thead>
<tr style="background-color: #cceeff; height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Anhydrous Ethanol ESALQ</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr style="background-color: #cceeff; height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(U.S.$/thousand liters)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 56%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Initial quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">451.30</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 2%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">551.20</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 2%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">487.20</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Closing quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">681.60</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">462.30</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">542.20</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Daily average quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">630.00</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">405.20</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">488.97</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">High quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">810.20</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">554.40</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">542.20</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Low quote</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">442.20</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">263.40</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">451.90</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<p style="margin: 0pt 0pt 12pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Source</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: ESALQ.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table sets forth our average selling prices (in R$ per thousand liters) for ethanol in the export market for the periods indicated:</span></p>
<table cellpadding="0" style="height: 86px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<thead>
<tr style="height: 18px; background-color: #cceeff;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; width: 41.946%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Ethanol</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; width: 41.946%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 1.96239%; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 1.96239%; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 41.946%; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(R$/thousand liters)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 15px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 15px; width: 55.928%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Average Unitary Price</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,508.60</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1.96239%; background-color: #cceeff; height: 15px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 15px; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,071.18</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1.96239%; background-color: #cceeff; height: 15px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 15px; width: 12.0196%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,184.11</span></p>
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<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<p style="margin: 0pt 0pt 12pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Source</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: Cosan/Ra&#237;zen.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Demand for Fuels</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Demand for gasoline, ethanol and diesel is susceptible to volatility related to the level of economic activity in Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Argentina</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Paraguay</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and may also fluctuate depending on the performance of specific industries. We expect that a decrease in economic activity would adversely affect demand for fuels.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Currency Fluctuations</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A significant proportion of the sales of sugar of Ra&#237;zen, a significant proportion of natural gas purchases of Comg&#225;s, and a significant proportion of the base oil purchases of CLE are conducted in U.S. dollars. Therefore, a depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar would have the effect of increasing our sales in Ra&#237;zen, and increasing our costs of sales in Comg&#225;s and Moove. An appreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">against the U.S. dollar would have the opposite effect.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A significant proportion of our debt is denominated in U.S. dollars. A depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar would increase our debt burden and our related financial expenses. However, we have receivables and other financial assets denominated in U.S. dollars, which would partially offset the impact that a depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> would have on our financial position. An appreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar would have the opposite effect.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Hedging Transactions and Exposures.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Seasonality</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our business is subject to a degree of seasonality as described below. See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Business, the Operations of Our Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and Industries in Which We Operate&#8212;Our business is subject to seasonal trends.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen is subject to seasonal trends based on the sugarcane growing cycle in the Central-South region of Brazil. The annual sugarcane harvesting period in the Central-South region of Brazil begins in April</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">/</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May and ends in November</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">/</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">December. This creates </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">vari</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ations in inventory, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which is usually high in November due to harvest dynamics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and a degree of seasonality in gross </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">income from sales of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ethanol and sugar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> significantly lower in the quarter</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ending March 31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo is subject to the seasonality that influences the sugarcane and grain harvest. During the peak months of the harvests, there is higher demand for transport and logistics operations.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Inflation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Inflation rates in Brazil were 6.3% in 2016, 3% in 2017</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 3.8% in 2018, 4.3% in 2019,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 4.5% in 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% in 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, as measured by the Extended National Consumer Price Index (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IPCA,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> published by the Brazilian Institute for Geography and Statistics (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Instituto Brasileiro de Geografia e Estat&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IBGE.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The inflation rate reached a leve</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">l of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the 12-month period ending</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> December 31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Inflation affects our financial performance by increasing certain of our operating expenses denominated in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (and not linked to the U.S. dollar). These operating expenses include labor costs, leases, and selling and general administrative expenses. However, inflation did not have a material impact on our business for the periods presented.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result of COVID-19&#8217;s continuous disruption of global supply chains and the ongoing armed conflict between Russia and Ukraine, inflationary pressure has increased in Brazil and around the world in the markets in which we operate. These inflationary pressures may lead to an increase in our costs and expenses which could ultimately impact our profitability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to the Countries in Which We Operate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Inflation and government measures to curb inflation may adversely affect the Brazilian economy, the Brazilian securities market, our business and operations, and the market prices of our shares.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cost Structure</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> cost structure </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is affected mainly by variable costs related to purchase of crude oil (Argentina), and fuels (mainly gasoline, ethanol and diesel). Costs related to our property, plant and equipment incur fixed depreciation charges which increase in line with our capital expenditure.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> C</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">osts that are linked to the prices of our products and costs that are not linked to the prices of our products. Two of our principal cost components, raw materials and land leases, are linked to the prices of our products. Accordingly, we adjust the prices of our products to follow fluctuations in the cost of our raw materials and leased land, substantially minimizing the impact of this cost volatility on our results of operations. In addition, another relevant portion of our costs is represented by agricultural and industrial inputs, some of which are imported and which are also subject to price fluctuations </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">primarily as a result of exchange rate variations. As 5% of our net sales are derived from exports, a portion of fluctuations in the costs of these inputs is offset by similar fluctuations in our Brazilian and international prices, minimizing the impact of this cost volatility on our results of operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our cost structure for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is affected by fixed and variable costs. Costs related to our property, plant and equipment incur fixed depreciation charges which increase in line with our capital expenditure. Costs relating to the natural gas resource, costs relating to transportation and other gas services are affected by volumes sold.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our cost structure for Lubricants is affected by the cost of imported base oil and additives for lubricants blending.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our cost structure for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is affected by fixed and variable costs. Costs related to our property, plant and equipment incur fixed depreciation charges, which increase in line with our capital expenditure. Costs relating to the transportation of sugar and other commodities are partially dependent on sales volumes.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Other Factors</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other factors that will impact the results of our operations include:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">general economic, political, demographic and business conditions in Brazil and in the world (including any impact resulting from the ongoing war between Russia and Ukraine)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the economic and political situation in Brazil, including the potential impact of the upcoming 2022 Brazilian presidential elections on the Brazilian economy;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the growth rate of the global economy and its resulting corresponding growth in worldwide </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">demand for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, ethanol, fuel, energy and logistics service</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">trade barriers in U.S., European and other markets that currently limit access to their domestic sugar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, ethanol and other</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> industry through quotas, subsidies and restrictions on imports;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the tax policies adopted by the Brazilian government and the governments of the Brazilian states in which we operate (including tax incentives</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> from which we benefit)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and our resulting tax obligation;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the evolving use of ethanol derivatives as an alternative to oil derivatives and as a cleaner burning fuel, derived from renewable sources;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the use of ethanol as a cleaner burning fuel, derived from renewable sources;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">changes in international prices of oil (denominated in U.S. dollars) and related changes in the domestic prices of oil (denominated in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">developments with respect to the COVID-19 pandemic in Brazil and globally (see also &#8220;Item 3. Key Information&#8211;&#8211;D. Risk Factors&#8212;Risks Related to Our Business, the Operations of Our Joint Venture, and Industries in Which We Operate&#8212;Our business, operations and results may be adversely impacted by COVID-19,&#8221; &#8220;Item 4. Information on the Company&#8212;A. History</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Development of the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Impact of COVID-19&#8221; and &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Impact of COVID-19&#8221;); </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">hedging transactions (as discussed under </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Hedging Transactions and Exposures</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">).</span></li>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Hedging Transactions and Exposures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our management has overall responsibility for the establishment and oversight of our risk management framework. Our board of directors has established the risk management committee, which is responsible for developing and monitoring our risk management policies. The committee reports regularly to our board of directors on its activities.</span></p>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our risk management policies are established to identify and analyze the risks that we face, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and our activities. Our management, through its training, standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our hedging strategy primarily seeks to protect our cash flows from risks arising from exchange rate fluctuations. Accordingly, certain of our derivatives financial instruments have been designated for hedge accounting, namely: (1) at Cosan S.A., the Senior Notes due 2023 and the associated derivatives financial instruments; (2) at Comg&#225;s, the fifth issuance of debentures due in 2023 and the ninth issuance of debentures due in 2030 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 2035, and the associated derivative financial instruments; and (3) at Rumo, the Senior Notes due 2025</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (redeemed on January 18, 2022)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, due 2028 and 2032, and the associated derivatives financial instruments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, Ra&#237;zen hedges part of the future price risk of its sugar production (that which it believes will be exported) and of its exchange rate derivative transactions using future contracts, options and swaps. Its hedging strategy seeks to protect it from cash flow risks caused by commodities price and exchange rate fluctuations, and as most of the derivative instruments have been designated for hedge accounting, Ra&#237;zen has not experienced material gains or losses in its financial results.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 11. Quantitative and Qualitative Disclosures About Market Risk</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.12</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements attached</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> hereto for further information.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BOR_ZICEATTXA800000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">A. Operating Results</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following discussion of our results of operations is based on the financial information derived from our audited consolidated financial statements prepared in accordance with IFRS as issued by the IASB, unless otherwise stated. In the following discussion, references to increases or decreases in any year are made by comparison with the corresponding prior year, as applicable, except as the context otherwise indicates. The discussion in this section is based on a comparison of the audited fiscal year ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> with the audited fiscal year ended December 31, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and a comparison of the audited fiscal year ended December 31, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> with the audited fiscal year ended December 31, 201</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">121</span></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: 10pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Results of Operations for the Fiscal Year Ended December 31, 2021 Compared to the Fiscal Year Ended December 31, 2020</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Consolidated Results</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table sets forth our consolidated statement of profit or loss for the fiscal years ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2021 and 2020:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 99.51%; height: 424px; text-indent: 0px;" width="100%">
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 31px;" colspan="5">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Ye</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">ar Ended </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 49px;" rowspan="2"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">%</span><br/><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">Variation</span><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 49px;" rowspan="2"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;" colspan="2">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; margin-left: 0.1px; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; margin-left: 0.1px; height: 17px;"><br/></td>
<td colspan="8" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; margin-left: 0.1px; height: 17px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; margin-left: 0.1px; height: 17px;"><br/></td>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Consolidated statement of profit or loss</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; width: 58%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">25,865.0</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20,437.8</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">26.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">19,864.2</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">14,999.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">32.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gross profit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,000.8</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,438.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">10.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">723.4</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(661.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">9.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">1,572.4</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,589.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other income (expense), net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">382.6</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">176.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">116.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Operating expense</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">1,913.2</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">2,074.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit before equity in earnings of investees, finance results and taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,087.6</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,363.2</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">21.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest in earnings of associates</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">130.2</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.8</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">352.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest in earnings of joint ventures</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,590.6</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">583.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">687.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance results, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,557.6</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,984.0</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.9%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit before taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,250.8</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,991.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">213.9%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income taxes &#8211; current</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">787.6</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">941.4</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(16.3)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income taxes &#8211; deferred</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,233.2</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">438.7</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">181.1%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Total income taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">445.6</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">502.7</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit from continuing operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,696.4</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,488.3</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">349.9%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit (loss) from discontinued operation, net of tax</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit for the year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,696.4</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,488.3</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">349.9%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net income attributable to non-controlling interests</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">384.3</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">628.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; vertical-align: bottom; text-indent: 0px;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding: 0px 0px 0px 3px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit attributable to owners of the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,312.1</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 18px; margin: 0px; background-color: #cceeff; vertical-align: bottom; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">859.5</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">34</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the Merger,<span>&#160;</span>Cosan<span>&#160;</span>S.A. began consolidating the results of<span>&#160;</span>Cosan<span>&#160;</span>Log&#237;stica<span>&#160;</span>from<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">March 1</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2021.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">For</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>the financial information of<span>&#160;</span>Cosan<span>&#160;</span>S.A. as of and for the year ended December 31, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>we used the predecessor accounting method</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. See &#8220;Presentation of Financial and Other Information</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8212;Financial<span>&#160;</span>Statements.</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8221;</span></span></td>
</tr>
<tr style="height: 17px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 17px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="height: 17px;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">In the first quarter of 2022</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, we revised our intangible asset policy for natural</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>gas distribution concession contracts and reclassified the balances of amortization<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">expenses from selling, general and administrative expenses to cost of sales for the years ended December 31, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2020 and 2019</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. This reclassification does not impact regulatory margins or key indicators used by us.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</span></td>
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<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">122</span></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: 10pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net Sales</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We report net sales after deducting federal and state taxes assessed on gross sales (ICMS, PIS, COFINS), IPI (a federal value-added tax assessed on our sales in the Brazilian market at rates that vary by product) and INSS (federal social contribution taxes assessed on our gross sales in the Brazilian market of our agribusiness entities at a rate of 2.85%). Deductions from sales in the Brazilian domestic market, which are subject to these taxes, are significantly higher than our deductions from sales in export markets.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below presents a breakdown of our net sales for the fiscal years ended December 31, 2021 and 2020:</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the F</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">iscal Year Ended</span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% Variation</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;"> </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 12%; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7,439.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 1%; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 1%; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 12%; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6,966.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 1%; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 1%; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; width: 12%; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6.8%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Northern Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,479.6</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,270.4</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Southern Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,624.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,409.9</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">15.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Container Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">336.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">285.9</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">17.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12,330.4</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9,093.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">35.6%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Natural gas distribution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">11,709.9</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">8,317.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">40.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">8%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Industrial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,386.3</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,030.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">46.8%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Residential</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,610.3</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,381.6</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">16.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Construction revenue</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,020.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">885.6</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">15.2%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Commercial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">448.6</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">350.8</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">27.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cogeneration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">637.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">389.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">63.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">364.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">220.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">65.7%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">242.3</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">59.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">309.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Electricity trading</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">620.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">775.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(20.0)%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6,112.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4,415.7</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">38.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finished goods</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,088.1</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,891.6</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">30.7%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Base oil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">458.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">392.2</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">16.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Services</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">566.4</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">131.9</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">329.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cosan Investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">31.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">100%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt 0pt 16.65pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Land leases</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">31.5</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">100%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">8.3</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.8</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">937.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Segment elimination</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-align: right; vertical-align: middle; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">57.4</span></span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; margin: 0px; text-align: left; vertical-align: middle; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">38.1</span></span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; margin: 0px; text-align: left; vertical-align: middle; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">50.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">25</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">865.0</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">20,437.8</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">26.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the Merger,<span>&#160;</span>Cosan<span>&#160;</span>S.A. began consolidating the results of<span>&#160;</span>Cosan<span>&#160;</span>Log&#237;stica<span>&#160;</span>from March 1, 2021. For the financial information of<span>&#160;</span>Cosan<span>&#160;</span>S.A. as of and for the year ended December 31, 2021 we used the predecessor accounting method</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. See &#8220;Presentation of Financial and Other Information</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8212;Financial<span>&#160;</span>Statements.</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8221;</span></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">123</span></td>
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<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The change in the various components consists of the following:</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> n</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">et sales increased to R$7,439.7 million from R$6,966.2 million in the fiscal year ended December 31, 2021 compared to the year ended December 31, 2021, mainly due to an increase of 4.5% in tariffs and an increase of 2.5% in volume loaded. Tariffs in the first semester of the year reflected fuel price adjustments, partially offset by the shortfall in the corn crop, by the capture of grain volume in more distant regions and also by the greater pressure on spot grain prices.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s net sales in the fiscal year ended December 31, 2021 amounted to R$12,330.4 million, representing the results of its activities of natural gas distribution in the concession region of the state of S&#227;o Paulo and electricity trading. This represented an</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increase of 35.6%, or R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,237.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> as compared to net sales of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9,093.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the fiscal year ended December 31, 2020. This </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">increase </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was primarily due to an increase in the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> demand from industrial customers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the fiscal year ended December 31, 2021 compared to the fiscal year ended December 31, 2020 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in particular a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">recovery in the ceramic, chemical and steel sectors after </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> restrictions</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> imposed in connection with the COVID-19 pandemic were relaxed</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Furthermore, there was an increase in the cost of gas and the transport thereof following the tariff review</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> completed </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in 2019</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which led to a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> increase in the prices charged by our Gas and Power segment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The net revenue of the lubricants business was R$6,112.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended Decembe</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">r 31, 2021, an increase of 38.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,696.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to net revenue of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,415.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the fiscal year ended December 31, 2020, primarily due to (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the increased contribution from international operations, given</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar and the British pound of 7.4%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 6.0%, respectively</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gains in operational efficiency due to a review of processes and best practices since the beginning of the COVID-19 pandemic focusing on supply chain, treasury strategies and production standards</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Investments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The net sales of Cosan Investments was R$31.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, primarily due to the rent on land leases received in the fiscal year ended December 31, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The net sales of Cosan Corporate was R$8.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, an increase of R$7.5 million,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to net sales of R$0.8 million in the fiscal year ended December 31, 2020.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">124</span></td>
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<p style="margin: 10pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cost of Sales</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fi</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">scal Year Ended </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1)</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">5,352.0</span></span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,721.5</span></span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 9pt;">13.3%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">9,755.4</span></span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; width: 1%; text-indent: 0px;">)</td>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; width: 12%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">6,932.3</span></span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; width: 12%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 9pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 9pt;">0</span><span style="font-family: 'Times New Roman'; font-size: 9pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 9pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 9pt;">%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,808.7</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,380.3</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 9pt;">42.</span><span style="font-family: 'Times New Roman'; font-size: 9pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 9pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">5.2</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: middle; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3.6</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; border-bottom-width: 1px; height: 17px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">40.5%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Segment elimination</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">57.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; height: 10px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">37.9</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: left; margin: 0px; height: 10px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom-width: 1px; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">50.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt 0pt; text-indent: 8.7pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cost of sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-weight: bold;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">19,864.2</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: middle; text-align: left; margin: 0px; height: 10px; text-indent: 0px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-weight: bold;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">14,999.8</span></span></span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: middle; text-align: left; margin: 0px; height: 10px; text-indent: 0px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">32.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the Merger,<span>&#160;</span>Cosan<span>&#160;</span>S.A. began consolidating the results of<span>&#160;</span>Cosan<span>&#160;</span>Log&#237;stica<span>&#160;</span>from March 1, 2021. For the financial information of<span>&#160;</span>Cosan<span>&#160;</span>S.A. as of and for the year ended December 31, 2021 we used the predecessor accounting method</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. See &#8220;Presentation of Financial and Other Information</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8212;Financial<span>&#160;</span>Statements.</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8221;</span></span></span></td>
</tr>
<tr style="height: 17px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 17px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="height: 17px;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">In the first quarter of 2022</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, we revised our intangible asset policy for natural</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>gas distribution concession contracts and reclassified the balances of amortization<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">expenses from selling, general and administrative expenses to cost of sales for the years ended December 31, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2020 and 2019</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. This reclassification does not impact regulatory margins or key indicators used by us.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Our previously reported financial information has been restated for all periods presented to reflect this change in </span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">classification and presentation.</span></span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Total cost of sales increased </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">32.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">19,864.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million during the fiscal year ended December 31, 2021, from R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">14,999.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million during the fiscal year ended December 31, 2020, due to the factors described below.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The cost of sales of the logistics services in the fiscal year ended December 31, 2021 increa</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sed by R$630.5 million, or 13.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% to R$5,352.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, from R$4,721.5 million in the same period of the previous</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">year. The cost of services accounted for 71.9% of net revenue from services in the fiscal year ended December 31, 2021 as compared to 67.8% for the fiscal year ended December 31, 2020. This increase in cost of services was primarily due to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a 2.5% increase in transported volume</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> an increase in prices for maintenance of the operations,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in particular</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the prices of fuel</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> freight and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(3) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">recognition of the depreciation of the right to use the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Central, which started to be recognized as a cost at the start of operations.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s costs of sales and services, which corresponds to the cost of gas, transportation, construction activity on the gas distribution infrastructure under concession and electricity trading, totaled R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9,755.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2021, a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">40.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% or R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,823.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increase in comparison with R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,932.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the fiscal year ended December 31, 2020. This increase was driven by the increase in the volume of gas purchased and distributed in the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> fiscal year ended December 31, 2021 compared to the fiscal year ended December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, in addition to the increase in gas prices</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the same period</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The cost increase is in line with the segment&#8217;s revenue growth.</span><span style="background-color: #ffff00; font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of sales of lubricants totaled R$4,808.7 million in the fiscal year ended December 31, 2021, an increase of 42.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% or R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,428.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,380.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the fiscal year ended December 31, 2020, mainly due to (1) depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the British pound of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 7.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, respectively; and (2) gains in operational efficiency due to a review of processes and best practices since the beginning of the COVID-19 pandemic focusing on supply chain, treasury strategies and production standards</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">125</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The cost of sales of Cosan Corporate in the fiscal year ended December 31, 2021 increased by R$1.6 million, or 44.4%, to R$5.2 million in the fiscal year ended December 31, 2021, from R$3.6 million in the previous year. </span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Selling </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Expenses</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses are primarily related to transportation costs, including freight and shipping costs for lubricant sold in Brazil and exported, as well as storage and loading expenses of ethanol and sugar for export at our and third parties</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> port facilities. Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s lubricant marketing expenses, as well as storage expenses, are also included as selling expenses.</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the F</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">iscal Year Ended December 31,</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 0.981194%;"><br/></th>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1)</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 0.981194%;"><br/></th>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.981194%;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: middle;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">39.0</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: middle;" valign="middle">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 0.981194%; margin: 0px; text-indent: 0px; vertical-align: middle;" valign="middle"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: middle;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">30.7</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: middle;" valign="middle">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 0.981194%; margin: 0px; text-indent: 0px; vertical-align: middle;" valign="middle"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: middle;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">27.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 12.0196%;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">125.4</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(156.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 12.0196%;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(20.1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.981194%;"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">551.5</span></span></p>
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<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 12.0196%;" valign="middle">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">471.8</span></span></p>
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<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle"><br/></td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">16.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.981194%;"><br/></td>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">7.5</span></span></p>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2.5</span></span></p>
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<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: middle; width: 0.981194%;" valign="middle"><br/></td>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">00</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 12.0196%;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">723.4</span></span></p>
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<td style="padding: 0px 0px 2px; text-align: left; height: 10px; margin: 0px; font-weight: bold; text-indent: 0px; vertical-align: bottom; width: 0.981194%;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 0.981194%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 12.0196%;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(661.9</span></p>
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<td style="padding: 0px 0px 2px; text-align: left; height: 10px; margin: 0px; font-weight: bold; text-indent: 0px; vertical-align: bottom; width: 0.981194%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 0.981194%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 12.0196%;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
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<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
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<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the Merger,<span>&#160;</span>Cosan<span>&#160;</span>S.A. began consolidating the results of<span>&#160;</span>Cosan<span>&#160;</span>Log&#237;stica<span>&#160;</span>from March 1, 2021. For the financial information of<span>&#160;</span>Cosan<span>&#160;</span>S.A. as of and for the year ended December 31, 2021 we used the predecessor accounting method</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. See &#8220;Presentation of Financial and Other Information</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8212;Financial<span>&#160;</span>Statements.</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8221;</span></span></span></span></td>
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<tr style="height: 17px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 17px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="height: 17px;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">In the first quarter of 2022</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, we revised our intangible asset policy for natural</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>gas distribution concession contracts and reclassified the balances of amortization<span>&#160;</span>expenses from selling, general and administrative</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#160;expenses to cost of sales for the years ended December 31, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2020 and 2019</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. This reclassification does not impact regulatory margins or key indicators used by us.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation.</span></span></span></td>
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<p style="margin: 0pt 0pt 0pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increased by 9.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">723.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million during the fiscal year ended December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> from R$661.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;million during the fiscal year ended December 31, 2020, due to the factors described below.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses increased by R$8.3 million to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">39.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the fiscal year ended December 31, 2021 compared to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">30.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the fiscal year ended December 31, 2020. This increase was primarily due to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% increase in volume transported in the fiscal year ended December 31, 2021 compared to the fiscal year ended December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;">Selling expenses decreased by 20.1% to R$125.4 million during the fiscal year ended December 31, 2021, from an expense of R$156.9 million during the fiscal year ended December 31, 2020. This decrease was primarily due to lower corporate costs and a reversal of expected credit losses.</p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses increased 16.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% to R$551.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, as compared to R$471.8 million in the fiscal year ended December 31, 2020. This increase was mainly due to an increase in marketing and freight expenses of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">30.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% in the fiscal year ended December 31, 2021 compared to the fiscal year ended December 31, 2020 and an increase in personnel expenses of 17.0% in the fiscal year ended December 31, 2021 compared to the fiscal year ended December 31, 2020.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">126</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses increased by R$5.0 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or 200%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to R$7.5 million in the fiscal year ended December 31, 2021 compared to R$2.5 million in the fiscal year ended December 31, 2020.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">General and Administrative Expenses</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the F</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">iscal Year Ended December 31,</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 18px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1)</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">472.7</span></span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; width: 0.981194%; height: 10px; text-indent: 0px;">)</td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">411.3</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">14.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160;&#160;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">502.1</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(376.6</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">269.8</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">229.7</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">17.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">6.5</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">&#8212;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">100</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br/></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br/></p>
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<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; vertical-align: middle; text-align: right; border-bottom: 1px solid #000000; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">321.3</span></span></p>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">572.2</span></span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(43.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
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<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">General and administrative expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="border-bottom-width: 1.5pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">1,572.4</span></span></p>
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<td style="padding: 0px 0px 1px; text-align: left; background-color: #cceeff; margin: 0px; height: 10px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,589.8</span></span></p>
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<td style="padding: 0px 0px 1px; text-align: left; background-color: #cceeff; margin: 0px; height: 10px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
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<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
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<td style="margin-left: 0.1px; vertical-align: top; height: 10px; padding: 1px 1px 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top; padding: 1px 1px 10px;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;">Following the Merger,&#160;Cosan&#160;S.A. began consolidating the results of&#160;Cosan&#160;Log&#237;stica&#160;from March 1, 2021. For the financial information of&#160;Cosan&#160;S.A. as of and for the year ended December 31, 2021 we used the predecessor accounting method</span><span style="font-size: 10pt;">. See &#8220;Presentation of Financial and Other Information</span><span style="font-size: 10pt;">&#8212;Financial&#160;Statements.</span><span style="font-size: 10pt;">&#8221;</span></span></span></span></span></td>
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<td style="margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In the first quarter of 2022, we revised our intangible asset policy for natural gas distribution concession contracts and reclassified the balances of amortization expenses from selling, general and administrative expenses to cost of sales for the years ended December 31, 2021, 2020 and 2019. This reclassification does not impact regulatory margins or key indicators used by us. Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation.<span>&#160;</span></span></td>
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<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses consist of salaries and benefits paid to employees, taxes, expenses related to third-party services, rentals and other expenses. Our total general and administrative expenses </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">decreased by 1.1%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,572.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million during the fiscal year ended December 31, 2021, from R$1,589.8 million during the fiscal year ended December 31, 2020, due to the factors described below</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and adminis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">trative expenses totaled R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">472.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, an increase </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">14.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to the fiscal year ended December 31, 2020, mainly due</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to inflation and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the effects of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> collective bargaining agreement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;">General and administrative expenses totaled R$502.1 million in the fiscal year ended December 31, 2021, compared with R$376.6 million in the fiscal year ended December 31, 2020. This increase was mainly due to higher employee-related expenses, which reflect increased incentive compensation costs associated with improved company performance and higher third-party service expenses.</p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">269.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, an increase of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">17.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">when compared to the fiscal year ended December 31, 2020, primarily due to an increase in personnel expenses as a result of the depreciation of the Brazilian </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar, the British pound and the Euro.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Investments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$6.5 million in the fiscal year ended December 31, 2021. </span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">321.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">year ended December 31, 2021, a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> decrease of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">43.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">when compared to the fiscal year ended December 31, 2020, primarily due to an incremental cost of R</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">$246.9 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million related to expenses incurred</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the fiscal year ended December 31,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 2020 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">with the acceleration of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the vesting of the awards in the share-based compensation plan of Cosan Limited in connection with the merger of Cosan Limited with and into Cosan S.A.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">127</span></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: 10pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Other </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income (Expense), N</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">et</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other income, net increased </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">from R$176.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2020 to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">382</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021. This increase was mainly due</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Radar </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">business combination, which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">generated a bargain purchase gain of R$416.2 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, partially offset by a R$65 million increase in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> judicial demands in the logistic segment </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">refurbishment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> costs recognized directly as an expense </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">expenses amounting to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$43 million related to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s concession </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">extension.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Interest in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Earnings </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">of </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Associates</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Equity in earnings of associates includes </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 49% of interest in Porto S&#227;o Lu&#237;s,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">51% interest in Tellus Brasil, 51% interest in Janus Brasil, 50% interest in Vertical and other investments. Equity in e</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">arnings of associates </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increased </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">130.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> from R$28.8 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, mainly due to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> increase in business performance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Equity in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Earnings </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">of</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Joint Ventu</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">re</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Equity in earnings of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">joint venture includes our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">44.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% interests in Ra&#237;ze</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n S.A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Equity income increased to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,590.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> from R$583.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2020. This </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">variation is mainly due to Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">initial public offering, following which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">there was a gain of R$2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">29.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">m</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">illion</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, despite the loss due to the reduction of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> interest in the jointly</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">controlled subsidiary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Additionally, H&#233;dera Investimentos e Participa&#231;&#245;es S.A. exercised </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">subscription bonus that generated a capital </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increase</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> with an impact </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">on us</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of R$1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">043.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">m</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">illion.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In accordance with IFRS 11, investments in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">joint venture are not consolidated but accounted for under the equity method.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Finance </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Results</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance results, net in the fiscal year ended December 31, 2021 totaled a net financial expense of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,557.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million compared with a net financial expense of R$1,9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">84.0 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2020, an increase of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">573.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">128</span></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: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For a better understanding of our finance results, the following table details our cost of debt:</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; border-bottom: 1px solid #000000;" colspan="5"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">For the F</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">iscal<span>&#160;</span>Year Ended December 31,</span><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 35px; background-color: #ffffff; margin-left: 0.1px; border-bottom: 1px solid #000000;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 35px; background-color: #ffffff; margin-left: 0.1px;" rowspan="2"><br/></th>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom: 1px solid #000000;" colspan="2">
<p style="line-height: 9pt; margin: 1pt 0pt 0pt; padding-bottom: 0pt; page-break-after: avoid; text-align: center;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">2021</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">(1)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom: 1px solid #000000;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2020</span></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="8" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cost of gross debt</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px;"><br/></th>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; margin-left: 0.1px;"><br/></th>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 58%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on debt</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; width: 12%; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,162.9</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; width: 1%; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; width: 1%; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; width: 12%; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,148.3</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; width: 1%; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; width: 1%; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; width: 12%; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">47.2%</span></p>
</td>
<td style="padding: 0px; height: 17px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
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<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Monetary and exchange rate variation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,069.2</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,253.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(67.1)%</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Derivatives and fair value measurement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,193.9</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,918.8</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(44.0)%</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of borrowing costs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">341.0</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">58.7</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Guarantees and warranties on debt</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">52.1</span></span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">56.1</span></span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(7.1)%</span></p>
</td>
<td style="padding: 0px; height: 19px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 18px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">2,431.3</span></span></p>
</td>
<td style="padding: 0px; height: 18px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,597.7</span></span></p>
</td>
<td style="padding: 0px; height: 18px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">52.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income from financial investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">600.9</span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">369.7</span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">62.5%</span></p>
</td>
<td style="padding: 0px; height: 19px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cost of debt, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,830.4</span></span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,228.0</span></span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">49.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; page-break-after: avoid; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Other charges and monetary variations</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on other receivables</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">411.4</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">201.1</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Monetary variation of other financial assets</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">0.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on other liabilities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">424.9</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">16.3</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on leases and concession agreements</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">37.7</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on leases</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">408.0</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">557.8</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(26.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">8.3</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">5.0</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">66.0%</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on contingencies and contracts</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">315.6</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">234.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">34.6%</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Bank charges and other</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">97.0</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">75.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.6%</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">115.6</span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">30.5</span></span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 10px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">727.2</span></span></p>
</td>
<td style="padding: 0px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">756.0</span></span></p>
</td>
<td style="padding: 0px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(3.8)%</span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Finance results, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">2,557.6</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,984.0</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">28.9%</span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expense</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,527.5</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="border-left: none; border-right: none;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,727.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(46.5)%</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,258.4</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">407.7</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange losses, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,099.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,258.7</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(66.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Derivatives</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">189.0</span></span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; height: 19px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,594.5</span></p>
</td>
<td style="padding: 0px; height: 19px; text-align: left; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; text-align: right; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; height: 19px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 0pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">2,557.5</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 0pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,984.0</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 0pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">28.9%</span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="font-size: 10pt; width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman';">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Following the Merger,<span>&#160;</span>Cosan<span>&#160;</span>S.A. began consolidating the results of<span>&#160;</span>Cosan<span>&#160;</span>Log&#237;stica<span>&#160;</span>from March 1, 2021. For the financial information of<span>&#160;</span>Cosan<span>&#160;</span>S.A. as of and for the year ended December 31, 2021 we used the predecessor accounting method</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. See &#8220;Presentation of Financial and Other Information</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8212;Financial<span>&#160;</span>Statements.</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8221;</span></span></span></span></span></span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt; text-indent: 18pt;"><br/></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">129</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cost of gross debt</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The total cost of gross debt (which includes interest expenses, exchange variation and derivative gain or loss) increased by R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">833.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">52.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%. This increase was primarily due to (i) the negative non-cash effect of foreign exchange variation of the unhedged portion of our perpetual notes, arising from the depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar in the fiscal year ended December 31, 2021, and (ii) the increase in the average CDI rate from 2.8% for the year ended December 31, 2020 to 4.4% for the year ended December 31, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">I</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ncome from financial investment</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">come</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> from financial investment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> amounted to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">600.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> increase </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">62.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as compar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ed to interest income of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">369.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2020. This increase was primarily due to the increase of the average CDI rate from </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% for the year ended December 31, 2020 to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the year ended December 31, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Other charges and monetary variations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other charges and monetary variations decreased by R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the fiscal year </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ended </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on leases decreased by R$149.8 million due to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">partial prepayment of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha Central and Rumo Malha Paulista </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">concession</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s fees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> occurred in 2020. In addition, interest on other receivable</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and other liabilities increased substantially because of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the effect of inflation, expenses with the Comg&#225;s concession extension and the impact of the SELIC rate on extemporaneous credits recognized by Comg&#225;s.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Tax (Expense) </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gain</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tax expenses amounted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gain</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">445.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million for the fiscal year ended December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, compared to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> an expense of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> R$502.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2020. This increase was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">primarily due to (1) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">reversal of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">liabilities classified as </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">deferred income tax and social contribution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on the amortization of the fair value </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">due to gains </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">recorded in the formation of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S.A. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the recognition of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a tax credit by Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> following the overpayment of income tax and social contributions in 2015, 2016 and 2019 as a result of applying a rate of 15.6% instead of 12.0% to the calculation of the ICMS tax base.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the fiscal year ended December 31, 2021, the effective tax rate was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, which was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">lower</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> than the nominal corporate tax rate of 34%, mainly due to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the reversal of deferred income tax and social contribution liabilities on the amortization of fair value related to the gain recorded in the formation of Ra&#237;zen and the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ICMS</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ta</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">x credit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> referred to above</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income Attri</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">butable to </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Owners </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">of the Parent</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result of the foregoing, net income attributable to our owners was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,312.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, compared to R$859.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2020. This represented </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> increase</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">after deducting net income attributable to non-controlling interests of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">384.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million and R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">628.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fiscal year ended December 31, 2021 and the fiscal year ended December 31, 2020, respectively.</span></p>
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<p style="margin: 10pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Results of Operations for the Fiscal Year Ended December 31, 2020 Compared to the Fiscal Year Ended December 31, 2019</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Consolidated Results</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table sets forth our consolidated statement of profit or loss for the fiscal years ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2020 and 2019:</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,(1)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 20px;" rowspan="2"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">%</span><br/><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 8pt;">Variation</span><br/></th>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Consolidated statement of profit or loss</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="padding: 0px; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; text-align: right; height: 17px; width: 12%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20,437.8</span></p>
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<td style="padding: 0px; text-align: right; height: 17px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 1%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; width: 12%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">20,611.4</span></p>
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<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; width: 1%; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
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<td style="padding: 0px; text-align: right; height: 17px; width: 12%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(0.8)%</span></p>
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</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">14,999.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">14,617.0</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gross profit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,438.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,994.4</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(661.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">666.1</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -12.4667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,589.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,236.1</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other income (expense), net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">176.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">404.7</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(56.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Operating expense</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">2,074.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">1,497.5</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.6%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit before equity in earnings of investees, finance results and taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,363.2</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,496.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(25.2)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest in earnings of associates</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.8</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.2</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest in earnings of joint ventures</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">583.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,131.4</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(48.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance results, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,984.0</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,967.6</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.8%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit before taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,991.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,661.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(45.6)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income taxes &#8211; current</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">941.4</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,000.1</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(5.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income taxes &#8211; deferred</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">438.7</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">220.5</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Total income taxes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">502.7</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">779.6</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(35.5)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit from continuing operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,488.3</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,882.3</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(48.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit (loss) from discontinued operation, net of tax</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">11.0</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit for the year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,488.3</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,893.3</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(48.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net income attributable to non-controlling interests</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">628.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,577.0</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(60.1)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profit attributable to owners of the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">859.5</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td colspan="2" style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,316.3</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(34.7)%</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="font-size: 10pt; width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman';">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 13.3333px; float: none; display: inline !important;">On December 2, 2019, we sold our shares in&#160;</span>Cosan<span style="font-size: 13.3333px; float: none; display: inline !important;">&#160;</span>Biomassa<span style="font-size: 13.3333px; float: none; display: inline !important;">&#160;S.A. to&#160;</span>Ra&#237;zen<span style="font-size: 13.3333px; float: none; display: inline !important;">&#160;</span>Energia<span style="font-size: 13.3333px; float: none; display: inline !important;">. The comparative consolidated statement of profit or loss and statements of cash flows have been restated to show the discontinued operation separately from continuing operations.</span></span></span></span></span></span></span></td>
</tr>
<tr>
<td style="margin-left: 0.1px; vertical-align: top;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(2)</span></td>
<td style="margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">In the first quarter of 2022</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">, we revised our intangible asset policy for natural</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#160;gas distribution concession contracts and reclassified the balances of amortization&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">expenses from selling, general and administrative expenses to cost of sales for the years ended December 31, 2021</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">, 2020 and 2019</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">. This reclassification does not impact regulatory margins or key indicators used by us.&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">.</span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net Sales</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We report net sales after deducting federal and state taxes assessed on gross sales (ICMS, PIS, COFINS), IPI (a federal value-added tax assessed on our sales in the Brazilian market at rates that vary by product) and INSS (federal social contribution taxes assessed on our gross sales in the Brazilian market of our agribusiness entities at a rate of 2.85%). Deductions from sales in the Brazilian domestic market, which are subject to these taxes, are significantly higher than our deductions from sales in export markets.</span></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">131</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below presents a breakdown of our net sales for the fiscal years ended December 31, 2020 and 2019:</span></p>
<table cellpadding="0" style="height: 444px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<thead>
<tr style="height: 31px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;"><br/></th>
<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px; border-bottom: 1px solid #000000;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended</span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,(1)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px; border-bottom-width: 1px;"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 49px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% Variation</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 49px; background-color: #ffffff; margin-left: 0.1px;" rowspan="2"><br/></th>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;"> </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6,966.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 2%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7,087.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 2%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(1.7)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Northern Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,270.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,313.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(0.8)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Southern Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,409.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,478.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(4.6)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Container Operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">285.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">295.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(3.3)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9,093.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9,514.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(4.4)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Natural gas distribution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">8,317.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9,514.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(12.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Industrial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,030.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,045.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(16.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Residential</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,381.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,295.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Construction revenue</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">885.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">813.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">8.9%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Commercial</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">350.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">507.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(30.9)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cogeneration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">389.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">437.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(10.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Automotive</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">220.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">350.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(37.2)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">59.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">64.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(8.5)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Electricity trading</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">775.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">N/A</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4,415.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4,046.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9.1%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finished goods</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,891.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,786.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Base oil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">392.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">194.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Services</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">131.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">65.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Segment elimination</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">38.1</span></span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; margin: 0px; text-align: left; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">37.1</span></span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; margin: 0px; text-align: left; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.7%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Net sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">20,437.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">20,611.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(0.8)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="font-size: 10pt; width: 100%; margin: 6px 0px 0px; height: 10px; font-family: 'times new roman';">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 2, 2019, we sold our shares in<span>&#160;</span></span>Cosan<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span>Biomassa<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. to<span>&#160;</span></span>Ra&#237;zen<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span>Energia<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. The comparative consolidated statement of profit or loss and statements of cash flows have been restated to show the discontinued operation separately from continuing operations.</span></span></span></span></span></span></span></td>
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<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The change in the various components consists of the following:</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Net sales decreased from R$7,087.9 million in the fiscal year ended December 31, 2019 to R$6,966.2 million in the fiscal year ended December 31, 2020, mainly due to a decrease of 7.6% in tariffs, which was partially offset by an increase of 28.8% in volume loaded and an increase of 62.2% in demand for logistics solutions (which includes integrated rail transport logistics, port handling and warehousing services).</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s net sales in the fiscal year ended December 31, 2020 amounted to R$9,093.2 million, representing the results of its activities of natural gas distribution in the concession region of the state of S&#227;o Paulo and electricity trading. This represented a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">decrease of 4.4% as compared to the fiscal year ended December 31, 2019. This </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">decrease </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was primarily due to a decrease in the gas distribution se</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">gment, including (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) a 6.3% decrease in sales volume across all segments (except for the residential segment) as a result of the impact of the COVID-19 pandemic, which was partially offset by an increase in sales volume in the residential segment as a result of quarantine measures implemented across Brazil in response t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">o the COVID-19 pandemic; and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the non-cash effect of marked-to-market contract agreements of electricity trading.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">132</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The net revenue of the lubricants business was R$4,415.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase of 9.1%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to the fiscal year ended Decemb</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">er 31, 2019, primarily due to (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s supply and sales strategy, which resulted in improved performance across certain operational indicators, such as an increase in unit contribution margin as a result of Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s revenue management process and inventory management, (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increased contribution from international operations, given the appreciation of the U.S. dollar, Euro and British round against the Brazilian </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) gains in operational efficiency due to a review of processes and best practices since the beginning of the COVID-19 pandemic focusing on supply chain, treasury strategies and production standards.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The net revenue of Cosan Corporate was R$0.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase of 0.7%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to the fiscal year ended December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cost of Sales</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 179px;" width="100%">
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 31px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 31px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31,(1)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; height: 31px;"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 49px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 49px;" rowspan="2"><br/></th>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 18px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 18px;"><br/></th>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px;"><br/></th>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 57%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; width: 12%; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,721.5</span></span></p>
</td>
<td style="padding: 0px; text-align: left; width: 1%; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; width: 2%; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; width: 12%; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">4,608.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; width: 1%; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; width: 2%; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; width: 12%; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.4%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
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<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">6,932.3</span></span></p>
</td>
<td style="padding: 0px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">6,859.1</span></span></p>
</td>
<td style="padding: 0px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,380.3</span></span></p>
</td>
<td style="padding: 0px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,185.7</span></span></p>
</td>
<td style="padding: 0px; text-align: left; background-color: #cceeff; margin: 0px; border-bottom-width: 1px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.1%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom-width: 1px; margin: 0px; text-indent: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3.6</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">0.5</span></span></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
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<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Segment elimination</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">37.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span></p>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">37.1</span></p>
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<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cost of sales</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="border-bottom-width: 1.5pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">14,999.8</span></span></p>
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<p style="border-bottom-width: 1.5pt; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">14,617.0</span></span></p>
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<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
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<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
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<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 2, 2019,<span>&#160;</span>Cosan<span>&#160;</span>S.A. sold its shares in<span>&#160;</span>Cosan<span>&#160;</span>Biomassa<span>&#160;</span>S.A. to<span>&#160;</span>Ra&#237;zen<span>&#160;</span>Energia. The comparative consolidated statement of profit or loss and statements of cash flows have been restated to show the discontinued operation separately from continuing operations.</span></span></span></span></span></span></span></td>
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<td style="margin-left: 0.1px; vertical-align: top; height: 51px;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="margin-left: 0.1px; vertical-align: top; height: 51px;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">In the first quarter of 2022</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, we revised our intangible asset policy for natural</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>gas distribution concession contracts and reclassified the balances of amortization<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">expenses from <span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">selling, general and administrative</span> expenses to cost of sales for the years ended December 31, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2020 and 2019</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. This reclassification does not impact regulatory margins or key indicators used by us.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</span></td>
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<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Total cost of sales increased by 2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">62</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$14,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">999</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million during the fiscal year ended December 31, 2020, from R$14,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">617</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million during the fiscal year ended December 31, 2019, due to the factors described below.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The cost of sales of the logistics services in the fiscal year ended December 31, 2020 incre</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ased by R$112.7 million, or 2.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, from R$4,608.8 million in the fiscal year ended December 31, 2019 to R$4,721.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020. The cost of services accounted for 67.8% of net revenue from services in the fiscal year ended December 31, 2020 as compared to 65.0% for the fiscal year ended December 31, 2019. This increase in cost of services was primarily due </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a 3.9% increase in transported volume due to changes in the mix of traffic (for example, a relative increase in intermodal shipments, which have higher average costs per car) in the northern operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The costs of the logistics solutions segment increased 46.1% in the fiscal year ended December 31, 2020 compared to the fiscal year ended December 31, 2019, below the 62% increase in volume recorded in the same period. Port elevation costs increased more than 100%, due to extraordinary costs with demurrage arising as a result of sugar being transported simultaneously with corn.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s costs of sales and services, which corresponds to the cost of gas, transportation, construction activity on the gas distribution infrastructure under concession and electricity trading, totaled R$6,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">932</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">increase in comparison to the fiscal year ended December 31, 2019. This increase was driven by the start of electricity trading operations in 2020, partially offset by a 6.3% </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">reduction</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the volume of natural gas distributed resulting from the impact of the COVID-19 pandemic.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">133</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cost of sales of lubricants totaled R$3,380.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase of 6.1%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to the fiscal year ended Dec</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ember 31, 2019, mainly due to (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) depreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar, the Bri</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tish pound and the Euro; and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) an increase</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the costs of certain raw materials due to increase in the Argus base oil indicator throughout the year.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The cost of sales of Cosan Corporate was R$3.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase of 0.5%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to the fiscal year ended December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Selling </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Expenses</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses are primarily related to transportation costs, including freight and shipping costs for lubricant sold in Brazil and exported, as well as storage and loading expenses of ethanol and sugar for export at our and third parties</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> port facilities. Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s lubricant marketing expenses, as well as storage expenses, are also included as selling expenses.</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 141px; text-indent: 0px;" width="100%">
<thead>
<tr style="background-color: #cceeff; height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 26.9828%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended December 31,(1)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 1.96239%;"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 36px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;" rowspan="2"><br/></th>
</tr>
<tr style="background-color: #cceeff; height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 1.96239%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 1.96239%;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; width: 55.928%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px; width: 41.946%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; width: 0.981194%;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 55.928%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; width: 12.0196%; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">30.7</span></span></p>
</td>
<td style="padding: 0px; width: 0.981194%; text-align: left; background-color: #cceeff; height: 17px; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; width: 1.96239%; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 12.0196%; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">7.0</span></span></p>
</td>
<td style="padding: 0px; width: 0.981194%; text-align: left; background-color: #cceeff; height: 17px; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; width: 1.96239%; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 12.0196%; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 55.928%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(156.9</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><span style="border-left: none; border-right: none;">157.7</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(0.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 55.928%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">471.8</span></span></p>
</td>
<td style="padding: 0px; text-align: left; background-color: #cceeff; height: 17px; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">492.5</span></span></p>
</td>
<td style="padding: 0px; text-align: left; background-color: #cceeff; height: 17px; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(4.2)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 55.928%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; border-bottom-width: 1px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 55.928%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2.5</span></span></p>
</td>
<td style="padding: 0px; text-align: left; background-color: #cceeff; height: 10px; margin: 0px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">8.9</span></span></p>
</td>
<td style="padding: 0px; text-align: left; background-color: #cceeff; height: 10px; margin: 0px; width: 0.981194%; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; border-bottom-width: 1px; width: 1.96239%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px; width: 12.0196%; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(71.9)%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; width: 55.928%;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; width: 12.0196%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(661</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">.9</span></span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: middle; text-align: left; height: 10px; margin: 0px; width: 0.981194%; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; width: 1.96239%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; width: 12.0196%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">666.1</span></span></p>
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<td style="padding: 0px 0px 1px; vertical-align: middle; text-align: left; height: 10px; margin: 0px; width: 0.981194%; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; width: 1.96239%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; height: 10px; width: 12.0196%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(0.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">)%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; width: 0.981194%;"><br/></td>
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<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="font-size: 10pt; width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman';">
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<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 2, 2019,<span>&#160;</span>Cosan<span>&#160;</span>S.A. sold its shares in<span>&#160;</span>Cosan<span>&#160;</span>Biomassa<span>&#160;</span>S.A. to<span>&#160;</span>Ra&#237;zen<span>&#160;</span>Energia. The comparative consolidated statement of profit or loss and statements of cash flows have been restated to show the discontinued operation separately from continuing operations.</span></span></span></span></span></span></span></td>
</tr>
<tr>
<td style="margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="margin-left: 0.1px; vertical-align: top;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">In the first quarter of 2022</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, we revised our intangible asset policy for natural</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span>&#160;</span>gas distribution concession contracts and reclassified the balances of amortization<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">expenses from <span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">selling, general and administrative</span> expenses to cost of sales for the years ended December 31, 2021</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, 2020 and 2019</span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">. This reclassification does not impact regulatory margins or key indicators used by us.<span>&#160;</span></span><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation.</span></span></td>
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</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">decreased by 0.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">661.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million during the fiscal year ended December 31, 2020 from R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">666.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million during the fiscal year ended December 31, 2019, due to the factors described below.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses increased by R$23.7 million in the fiscal year ended December 31, 2020 compared to the fiscal year ended December 31, 2019. This increase was primarily due to an increase in expenses with third-party services expenses to R$14.5 million in the fiscal year ended December 31, 2020 from R$0.6 million in the fiscal year ended December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;">Selling expenses decreased by 0.5% to an expense of R$156.9 million during the fiscal year ended December 31, 2020, from an expense of R$157.7 million during the fiscal year ended December 31, 2019. This decrease was primarily due to a decrease of 20% in employee-related expenses partially offset by an increase of R$12.7 million in the provision for expected credit losses.</p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">134</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses decreased 4.20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% to R$471.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, as compared to R$492.5 million in the fiscal year ended December 31, 2019. This decrease</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was mainly due to a decrease of 30% in logistics and sales expenses, partially offset by higher marketing expenses.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Selling expenses decreased 71.9%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or R$6.4 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to R$2.5 million in the fiscal year ended December 31, 2020, as compared to R$8.9 million in the fiscal year ended December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">General and Administrative Expenses</span></p>
<table cellpadding="0" style="height: 134px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<thead>
<tr style="height: 18px; background-color: #cceeff;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended December 31,(1)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 36px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 36px; background-color: #ffffff; margin-left: 0.1px;" rowspan="2"><br/></th>
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<tr style="height: 18px; background-color: #cceeff;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px; border-bottom-width: 1px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #ffffff; margin-left: 0.1px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 55%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Logistics</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 2%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 12%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">411.3</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; width: 2%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 12%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">364.6</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 17px; width: 1%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; width: 2%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; width: 12%; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">12.8%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Gas and Power(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160;&#160;</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">577.5</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">404.4</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">42.8%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">229.7</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">173.2</span></span></p>
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<td style="padding: 0px; text-align: left; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">32.6%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
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<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="padding: 0px; text-align: left; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Corporate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">572.2</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">293.9</span></span></p>
</td>
<td style="padding: 0px; text-align: left; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">94.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">General and administrative expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,790.7</span></span></p>
</td>
<td style="padding: 0px 0px 2px; text-align: left; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,236.1</span></span></p>
</td>
<td style="padding: 0px 0px 2px; text-align: left; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom: 2.8pt double #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">44.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
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<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="font-size: 10pt; width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman';">
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<td style="margin-left: 0.1px; vertical-align: top; height: 10px; width: 1.79886%; padding: 1px 1px 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top; width: 97.547%; padding: 1px 1px 10px;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 2, 2019,<span>&#160;</span>Cosan<span>&#160;</span>S.A. sold its shares in<span>&#160;</span>Cosan<span>&#160;</span>Biomassa<span>&#160;</span>S.A. to<span>&#160;</span>Ra&#237;zen<span>&#160;</span>Energia. The comparative consolidated statement of profit or loss and statements of cash flows have been restated to show the discontinued operation separately from continuing operations.</span></span></span></span></span></span></span></td>
</tr>
<tr>
<td style="margin-left: 0.1px; vertical-align: top; width: 1.79886%;"><span style="color: #000000; font-family: 'Times New Roman'; 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</span></td>
<td style="margin-left: 0.1px; vertical-align: top; width: 97.547%;"><span style="color: #000000; font-family: 'Times New Roman'; 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">In the first quarter of 2022, we revised our intangible asset policy for natural gas distribution concession contracts and reclassified the balances of amortization expenses from selling, general and administrative expenses to cost of sales for the years ended December 31, 2021, 2020 and 2019. This reclassification does not impact regulatory margins or key indicators used by us. Our previously reported financial information has been restated for all periods presented to reflect this change in classification and presentation.</span></td>
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<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses consist of salaries and benefits paid to employees, taxes, expenses related to third-party services, rentals and other expenses. Our total general and administrative expenses increased by 44.9%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to R$1,790.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million during the fiscal year ended December 31, 2020, from R$1,236.1 million during the fiscal year ended December 31, 2019, due to the factors described below.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Logistics</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$411.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase of 12.8%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">compared to the fiscal year ended December 31, 2019, mainly due to an increase of 14% as a result of wage inflation and additional employees being brought on, combined with other personnel provisions, including payroll taxes, health and welfare costs, other postretirement benefits, incentive costs and bonus payments.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Gas and Power</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$577.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, compared with R$404.4 million in the fiscal year ended December 31, 2019. This increase was mainly due to the consolidation of the general and administrative expenses</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Compass Comercializa&#231;&#227;o&#160;and Compass Energia</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">following our acquisition of these entities </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">on January 30, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2020.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$229.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of 32.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">when compared to the fiscal year ended December 31, 2019, primarily due to an increase in personnel expenses as a result of the depreciation of the Brazilian </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> against the U.S. dollar, the British pound and the Euro.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">135</span></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: 10pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cosan Corporate</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">General and administrative expenses totaled R$572.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020, an increase of 94.7%</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">when compared to the fiscal year ended December 31, 2019, primarily due to an incremental cost </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of R$246.9 million related to expenses incurred with the acceleration of the vesting of the awards in the share-based compensation plan of Cosan Limited in connection with the merger of Cosan Limited with and into Cosan S.A.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Other </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income (Expense), N</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">et</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other income, net decreased from R$404.7 million in the fiscal year ended December 31, 2019 to R$176.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December 31, 2020. This decrease</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was mainly due to a gain on the sale of credit rights in the amount of R$410.0 million recorded in the fiscal year ended December 31, 2019, partially offset by expenses incurred in connection with the renewal process for the Rumo Malha Paulista concession recorded in the fiscal year ended December 31, 2020.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Interest in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Earnings </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">of </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Associates</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Equity in earnings of associates includes our 3% interest in Radar II, 2.51% interest in Radar, 51% interest in Tellus Brasil, 51% interest in Janus Brasil, 50% interest in Vertical and other investments. Equity in earnings of associates increased to R$28.8 million in the fiscal year ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2020 from R$1.2 million in the fiscal year ended December 31, 2019, mainly due to an improvement in business performance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Equity in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Earnings </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">of </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Joint Ventures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Equity in earnings of joint ventures includes our 50% interests in Ra&#237;zen Energia and Ra&#237;zen Combust&#237;veis. Equity income decreased to R$583.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2020 from R$1,131.4 million in the fiscal year ended December 31, 2019. This was a result of the factors detailed above for Ra&#237;zen Energia and Ra&#237;zen Combust&#237;veis. In accordance with IFRS 11, investments in joint ventures are not consolidated but accounted for under the equity method.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Finance </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Results</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Net</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance results, net in the fiscal year ended December 31, 2020 totaled a net financial expense of R$1,984.0 million compared with a net financial expense of R$1,967.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million in the fiscal year ended December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2019, an increase</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of R$16.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million, or 0.8%.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">136</span></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 0pt 0pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For a better understanding of our finance results, the following table details our cost of debt:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 468px; text-indent: 0px;" width="100%">
<thead>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; width: 56.991%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 26.9828%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended December 31,(1)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px; width: 1.96239%;"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 35px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">% </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Variation</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 35px; width: 0.981194%;" rowspan="2"><br/></th>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px; width: 56.991%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: center; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 17px; width: 12.0196%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 2pt 0pt 0pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: center; background-color: #ffffff; margin-left: 0.1px; height: 17px; border-bottom-width: 1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: center; background-color: #ffffff; margin-left: 0.1px; height: 17px; border-bottom-width: 1px; width: 1.96239%;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><br/></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: center; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 17px; width: 12.0196%;"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2019</span></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px; border-bottom-width: 1px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px; border-bottom-width: 1px; width: 1.96239%;"><br/></th>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px; width: 56.991%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px; border-bottom-width: 1px; width: 41.946%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">, except percentages)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 17px; width: 0.981194%;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cost of gross debt</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 12.0196%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 0.981194%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.96239%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 12.0196%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 0.981194%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 1.96239%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom-width: 1px; width: 12.0196%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 56.991%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on debt</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; width: 12.0196%; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">2,148.3</span></span></p>
</td>
<td style="padding: 0px; width: 0.981194%; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; width: 1.96239%; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; width: 12.0196%; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">1,626.9</span></span></p>
</td>
<td style="padding: 0px; width: 0.981194%; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; width: 1.96239%; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; width: 12.0196%; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">32.0%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Monetary and exchange rate variation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,253.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">438.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Derivatives and fair value measurement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,918.8</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">764.8</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Amortization of borrowing costs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">58.7</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">56.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Guarantees and warranties on debt</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">56.1</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 19px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">65.2</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 19px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 19px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; width: 56.991%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 18px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,597.7</span></span></p>
</td>
<td style="padding: 0px; height: 18px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 18px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,422.1</span></span></p>
</td>
<td style="padding: 0px; height: 18px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 18px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">12.3%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 18px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 20px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 56.991%;">
<p style="margin: 0pt 7.35pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Income from financial investments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">369.7</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 20px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 20px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">407.7</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 20px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 20px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(9.3)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 20px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; width: 56.991%;">
<p style="margin: 0pt 6.8pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Cost of debt, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,228.0</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,014.4</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">21.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 9.35pt; page-break-after: avoid; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Other charges and monetary variations</span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on other receivables</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">201.1</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">435.5</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(53.8)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on other liabilities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">16.3</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">302.6</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(94.6)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on leases and concession agreements</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">37.7</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">190.3</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(80.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on leases</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">557.8</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">369.0</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">51.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 22.3pt; text-indent: -8.65pt; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">5.0</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">18.7</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(73.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Interest on contingencies and contracts</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">234.4</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">222.6</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.3%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Bank charges and other</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">75.4</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">196.2</span></span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(61.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">30.5</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 19px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">89.3</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 19px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 19px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(65.8)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 19px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; width: 56.991%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">756.0</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">953.2</span></span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(20.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 56.991%;">
<p style="margin: 0pt 6.8pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Finance results, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,984.0</span></span></p>
</td>
<td style="padding: 0px 0px 2px; background-color: #cceeff; height: 10px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,967.6</span></span></p>
</td>
<td style="padding: 0px 0px 2px; background-color: #cceeff; height: 10px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">0.8%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 10px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; width: 56.991%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reconciliation</span></p>
</td>
<td style="padding: 0px; text-align: right; height: 18px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 18px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; height: 18px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 18px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance expense</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(</span><span style="border-left: none; border-right: none;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,727.5</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,690.6</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">28.1%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finance income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">407.7</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">974.6</span></p>
</td>
<td style="padding: 0px; height: 17px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(58.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange losses, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">3,258.7</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="border-left: none; border-right: none;">526.9</span></span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom">)</td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; width: 56.991%;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Derivatives</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,594.5</span></p>
</td>
<td style="padding: 0px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,275.3</span></p>
</td>
<td style="padding: 0px; height: 10px; text-align: left; margin: 0px; border-bottom-width: 1px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; border-bottom-width: 1px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 1px solid #000000; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">N/A</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 10px; width: 0.981194%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 56.991%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,984.0</span></span></p>
</td>
<td style="padding: 0px 0px 2px; background-color: #cceeff; height: 10px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">1,967.6</span></span></p>
</td>
<td style="padding: 0px 0px 2px; background-color: #cceeff; height: 10px; text-align: left; margin: 0px; text-indent: 0px; width: 0.981194%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; text-align: right; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 1.96239%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px; width: 12.0196%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">0.8%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 10px; width: 0.981194%;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;<span style="text-decoration: underline;"> &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></span></p>
<table style="font-size: 10pt; width: 100%; margin: 6px 0px 0px; height: 27px; font-family: 'times new roman';">
<tbody>
<tr style="height: 10px;">
<td style="margin-left: 0.1px; vertical-align: top; height: 10px;"><span style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="height: 10px; margin-left: 0.1px; vertical-align: top;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="font-size: 10pt;"><span style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';"><span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 2, 2019,<span>&#160;</span>Cosan<span>&#160;</span>S.A. sold its shares in<span>&#160;</span>Cosan<span>&#160;</span>Biomassa<span>&#160;</span>S.A. to<span>&#160;</span>Ra&#237;zen<span>&#160;</span>Energia. The comparative consolidated statement of profit or loss and statements of cash flows have been restated to show the discontinued operation separately from continuing operations.</span></span></span></span></span></span></span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><br/></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">137</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt 0pt 0pt 0pt; text-indent: -18pt;"><br/></p>
</div><div id="Normadiv74" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Cost of gross debt</span>.<span style="font-style: italic;"> </span>The total cost of gross debt (which includes interest expenses, exchange variation and derivative gain or loss) increased by R$175.6 million, or 12.3%. This increase was primarily due to the negative non-cash effect of foreign exchange variation of the unhedged portion of our perpetual notes, arising from the depreciation of the <span style="font-style: italic;">real</span> against the U.S. dollar in the fiscal year ended December 31, 2020.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Interest income</span>.<span style="font-style: italic;"> </span>Interest income amounted to R$369.7 million in the fiscal year ended December 31, 2020, a decrease of 9.3% as compared to interest income of R$407.7 million in the fiscal year ended December 31, 2019. This decrease was primarily due to the decrease of the average CDI rate from 5.94% for the year ended December 31, 2019 to 2.78% for the year ended December 31, 2020.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Other charges and monetary variations</span>.<span style="font-style: italic;"> </span>Other charges and monetary variations decreased by R$197.2 million. Banking expenses, leases, fees and other expenses decreased by R$84.6 million. This is primarily due to a reduction in fees paid to banks, related to the stand-by credit facility contracted, partially offset by the partial prepayment of the concession&#8217;s fees of the Rumo Malha Central and Rumo Malha Paulista. In addition, interest on other liabilities decreased R$286.3 million due to lower interest on preferred shareholders payable in subsidiaries due to the decrease of the average CDI rate from 5.94% as of December 31, 2019 to 2.78% as of December 31, 2020 and reduction of account balance.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Income </span><span style="font-style: italic; font-weight: bold;">Tax (Expense) B</span><span style="font-style: italic; font-weight: bold;">enefit</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expenses amounted to R$502.7 million for the fiscal year ended December 31, 2020, compared to R$779.6 million in the fiscal year ended December 31, 2019. This decrease was a consequence of a lower taxable profit in the fiscal year ended December 31, 2020 as compared to the fiscal year ended December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In the fiscal year ended December 31, 2020, the effective tax rate was 25.2%, which was lower than the nominal corporate tax rate of 34%, mainly due to interest in earnings of investees of R$207.9 million and tax incentives of R$109.1 million, which were partially offset by unrecognized tax losses of R$170 million.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Net </span><span style="font-style: italic; font-weight: bold;">Income Attrib</span><span style="font-style: italic; font-weight: bold;">utable to </span><span style="font-style: italic; font-weight: bold;">Owners </span><span style="font-style: italic; font-weight: bold;">of the Parent</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a result of the foregoing, net income attributable to our owners was R$859.5 million in the fiscal year ended December 31, 2020, compared to R$1,316.3 million in the fiscal year ended December 31, 2019. This represented a decrease of 34.7% after deducting net income attributable to non-controlling interests of R$628.8 million and R$1,577.0 million in the fiscal year ended December 31, 2020 and the fiscal year ended December 31, 2019, respectively.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Blcr_VKODXX1D1C00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">B. Liquidity and Capital Resources</span></a></div>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Overview</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our financial condition and liquidity are influenced by several factors, including:</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;" class="pageno">138</span></td>
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</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><a href="#TOC">Table of Contents</a></span></div>
</div>
<p><br/></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">our ability to generate cash flow from our operations;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the level of our outstanding indebtedness and related accrued interest, which affects our net financial expenses;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">prevailing Brazilian and international interest rates, which affect our debt service requirements;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">exchange rate variations, which can affect both our U.S. dollar-denominated debt and our U.S. dollar-denominated supply agreements; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">credit ratings, including factors that may materially influence credit ratings, implications of potential changes in ratings and management&#8217;s expectations; and covenant compliance, including the implications of a breach of financial or other covenants and our capacity for additional borrowing under its covenants.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our cash needs have traditionally consisted of working capital requirements, servicing of our indebtedness, capital expenditures related to investments in operations, maintenance and expansion of plant facilities, as well as acquisitions. Our sources of liquidity have traditionally consisted of cash flows from our operations and short- and long-term borrowings. We have financed acquisitions through seller financing, third-party financing or capital contributions by our shareholders. We believe our current working capital is sufficient for our present requirements and would expect to meet any potential shortfalls in our working capital needs through short- and long-term borrowings, capital contributions by our shareholders, or offerings of debt or equity securities in the domestic and international capital markets.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In the fiscal years ended December 31, 2021, 2020 and 2019, the cash flow used in investing activities was funded mainly by increased borrowing and also by the operational cash flows of our subsidiaries. As of December 31, 2021, our consolidated cash and cash equivalents (including marketable securities) amounted to R$20,547 million, compared to R$17,312 million as of December 31, 2020 and R$11,587.8 million as of December 31, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2021, Cosan S.A. had positive consolidated working capital of R$14,336.1 million and a profit for the year of R$6,696.5 million. </span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Cash Flows</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth certain of our cash flow data for the periods indicated:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<thead>
<tr>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64.9223%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Consolidated</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 33.8512%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended December 31,</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
</tr>
<tr>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64.9223%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 9.97547%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">2021</span><span style="font-weight: bold;">(1)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 9.97547%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 9.97547%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
</tr>
<tr>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64.9223%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 33.8512%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">(in R$ millions, except percentages)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 0.981194%;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64.9223%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows generated by operating activities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,147.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,656.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,296.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
</tr>
<tr>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64.9223%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows &#8220;used in&#8221; investing activities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(5,446.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; margin: 0px; text-indent: 0px; width: 0.981194%;">
<p style="text-align: left;">)</p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(4,523.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(130.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; text-align: left;">)</td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 64.9223%; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows generated (used in) financing activities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,319.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,686.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 0.981194%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; width: 9.97547%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,558.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; text-align: left;">)</td>
</tr>
</tbody>
</table>
<table style="font-size: 10pt; width: 100%; margin-left: 0.1px; font-family: 'times new roman';">
<tbody>
<tr>
<td style="width: 8.70811%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><br/></td>
<td style="width: 91.2919%;"><br/></td>
</tr>
</tbody>
</table>
<table style="font-size: 10pt; width: 100%; margin-left: 0.1px; font-family: 'times new roman';">
<tbody>
<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><span style="font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">(1)</span></td>
<td style="width: 97%;"><span style="font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">Following the Merger, Cosan S.A. began consolidating the results of Cosan Log&#237;stica from March 1, 2021. For the financial information of Cosan S.A. as of and for the year ended December 31, 2021 we used the predecessor accounting method. See &#8220;Presentation of Financial and Other Information&#8212;Financial Statements.&#8221;</span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt; margin-top: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The change in the various components consists of the following:</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Cash </span><span style="font-style: italic; font-weight: bold;">Flows Gene</span><span style="font-style: italic; font-weight: bold;">rated by </span><span style="font-style: italic; font-weight: bold;">Operating Activities</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The net cash flows generated by operating activities in the fiscal year ended December 31, 2021 amounted to R$5,147.2 million, compared to R$5,656.9 million in the fiscal year ended December 31, 2020, a decrease of R$509.7 million reflecting a weaker operational performance of our business in&#160;2021. In addition, changes in assets and liabilities were higher than the previous year, with a total of R$1,662.8 million of net cash used in the fiscal year ended December 31, 2021, compared to R$961.4 million of net cash generated in the fiscal year ended December 31, 2020, an increase of R$701.4 million. For the fiscal year ended December 31, 2019, net cash flows generated by operating activities amounted to R$6,296.7 million.</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">139</span></td>
</tr>
</tbody>
</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Cash </span><span style="font-style: italic; font-weight: bold;">Flows </span><span style="font-style: italic; font-weight: bold;">&#8220;</span><span style="font-style: italic; font-weight: bold;">Used In</span><span style="font-style: italic; font-weight: bold;">&#8221;</span><span style="font-style: italic; font-weight: bold;"> </span><span style="font-style: italic; font-weight: bold;">Investing Activities</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net cash flows used in investing activities amounted to R$5,446.8 million in the fiscal year ended December&#160;31, 2021, compared to R$4,523.1 million in the fiscal year ended December 31, 2020. This variation was mainly attributable to higher investment in capital expenditure that increased by R$740.2 million, see also &#8220;&#8212;Capital Expenditures.&#8221; In addition, we invested in the acquisition of Radar in the amount of R$601.9 million and in the acquisition of a minority interest of Porto S&#227;o Lu&#237;s in the amount of R$393.5 million, both partially offset by higher dividends received from Ra&#237;zen S.A. amounting to R$819.7 million in 2021 compared to R$1.8 million in 2020.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Cash</span><span style="font-style: italic; font-weight: bold;"> Flows Generat</span><span style="font-style: italic; font-weight: bold;">ed or </span><span style="font-style: italic; font-weight: bold;">&#8220;</span><span style="font-style: italic; font-weight: bold;">Used In&#8221; Financing Activ</span><span style="font-style: italic; font-weight: bold;">ities</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net cash flows generated in financing activities were R$2,319.4 million in the fiscal year ended December&#160;31, 2021, compared to net cash flows generated in financing activities of R$3,686.3 million in the fiscal year ended December 31, 2020. This variation was primarily due to the payment of a larger amount of dividends and principal on loans, borrowings and debentures. For the fiscal year ended December 31, 2019, net cash flows used in financing activities were R$1,558.4 million.</span><br/></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Indebtedness</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, our outstanding debt totaled R$45,659.0 million, of which R$7,911.4 million was short-term debt. Our debt consisted of R$23,304.7 million in local currency-denominated debt and R$22,354.3 million in foreign currency-denominated debt.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our total debt of R$45,659.0 million as of December 31, 2021 increased 8.1% as compared to our total debt of R$42,249.5 million at December 31, 2020, primarily due to issuance of simple debentures by Rumo in the total amount of R$3,793 million, and the issuance of simple debentures by Cosan S.A. in the total amount of R$2,000 million. Our U.S. dollar-denominated debt as of December 31, 2021 represented 51.0%, our British pound sterling-denominated debt represented 1.0%, and our euro-denominated debt represented 0.2% of our total indebtedness. Our secured debt as of December 31, 2021 represented 17.33% of our total indebtedness, mostly in the form of land mortgage deeds, assignment/pledge of credit rights, machinery and equipment.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Certain of our long-term debt agreements require us or certain of our subsidiaries, as applicable, to comply with certain financial covenants, including our U.S.$650 million 7.000% senior notes due 2027, our U.S.$750 million 5.500% senior notes due 2029, Rumo&#8217;s U.S.$500 million 5.250% senior notes due 2028, Rumo&#8217;s U.S.$500 million 4.200% sustainability-linked notes due 2032, our U.S.$200 million and U.S.$300 million 8.25% perpetual notes and our U.S.$121 million 5.00% notes due 2023, which limit the ability of our subsidiaries to, among other things, enter into certain transactions with shareholders or affiliates, make certain restricted payments (including, in certain circumstances, payments of dividends), engage in a merger, sale or consolidation transactions and create liens.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We and our subsidiaries are subject to certain restrictive financial covenants set forth in existing loans and financing agreements. As of December 31, 2021 and the date of this annual report, we and our subsidiaries were in compliance with our debt covenants.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The principal financing activities for the fiscal year ended December 31, 2021 are described below:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 15, 2021, Rumo issued debentures in an aggregate principal amount of R$1,500.0 million divided into two tranches. The first tranche is in an aggregate principal amount of R$750.0 million, accrues interest at a rate equal to the CDI plus 1.69% and matures in six years. The second tranche is in an aggregate principal amount of R$750.0 million, accrues interest at a rate equal to the IPCA plus 4.60% and matures in 10 years. </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On June 15, 2021, Rumo issued debentures in an aggregate principal amount of R$1,043.4 million divided into two tranches. The first tranche is in an aggregate principal amount of R$784.6 million, accrues interest at a rate equal to the IPCA plus 4.50% and matures on June 15, 2031. The second tranche is in an aggregate principal amount of R$258.8 million, accrues interest at a rate equal to the IPCA plus 4.54% and matures on June 15, 2036. The two tranches have semiannual interest payments and the proceeds will be used for investments.</span></li>
</ul>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">140</span></td>
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</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On July 15, 2021, Cosan S.A. issued debentures in an aggregate principal amount of R$2,000.0 million divided into three tranches. The first tranche is in an aggregate principal amount of R$750 million, accrues interest at a rate equal to the CDI plus 1.65% and matures in seven years. The second tranche is in an aggregate principal amount of R$900 million, accrues interest at a rate equal to the CDI plus 2.00% and matures in 10 years. The third tranche is in an aggregate principal amount of R$350 million, accrues interest at a rate equal to the IPCA plus 5.75% and matures in 10 years.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On August 13, 2021, Compass, through TRSP, issued debentures in an aggregate principal amount of R$700 million, which accrue interest at a rate equal to the CDI plus 1.95% and mature on August 13, 2024.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On August 20, 2021, Comg&#225;s issued debentures in an aggregate principal amount of R$1,000 million divided into two tranches. The first tranche is in an aggregate principal amount of R$500 million, accrues interest at a rate equal to the IPCA plus 5.12% and matures on August 15, 2031. The second tranche is in an aggregate principal amount of R$500 million, accrues interest at a rate equal to the IPCA plus 5.22% and matures on August 15, 2036.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On September 22, 2021, Rumo completed an offering of 4.200% sustainability-linked notes due 2032 in an aggregate principal amount of U.S.$500 million. As a consequence of being sustainability-linked, the interest rate payable on the notes shall be increased by 25 basis points per annum from and including July 18, 2027, unless in respect of the year ended December 31, 2026: (i) the sustainability performance target related to the notes has been satisfied; and (ii) its satisfaction has been confirmed by an external verifier, in each case, in accordance with the terms of the notes. The proceeds of this offering were used for general corporate purposes, including repayment of Rumo&#8217;s indebtedness.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On October 15, 2021, Rumo issued debentures in an aggregate principal amount of R$1,250.0 million divided into two tranches. The first tranche is in an aggregate principal amount of R$750.0 million, accrues interest at a rate equal to the CDI plus 1.30% and matures in six years. The second tranche is in an aggregate principal amount of R$500.0 million, accrues interest at a rate equal to the IPCA plus 5.73% and matures in 12 years.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 22, 2021, <span style="background-color: #ffffff;">Ra&#237;zen</span> entered into a revolving credit facility, in the total amount of US$700.0 million, from a syndicate of banks, the proceeds of which were used to replace its existing revolving credit facility with its controlling shareholders and for general corporate purposes. The facility accrues interest at a rate equal to LIBOR and is scheduled to mature on December 22, 2026.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The table below shows the profile of our debt instruments as of the dates indicated:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 309.625px;" width="100%">
<thead>
<tr style="height: 0px;">
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; break-after: avoid; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Description</span></p>
</th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Index</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">Annual </span><span style="font-weight: bold;">Interest</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 202</span><span style="font-weight: bold;">1</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 20</span><span style="font-weight: bold;">20</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 201</span><span style="font-weight: bold;">9</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Currency</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="5" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">(in millions)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 24%; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Secured</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 15%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 9%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 9%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 9%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 9%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 9%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 9%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">BNDES&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">TJLP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.09%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">URTJLP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.49%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,598.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,321.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,213.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.69%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">461.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">647.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">834.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2025</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">TJ462 + 1.80%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.89%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">144.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">TJLP + 2.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.09%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">83.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Selic + 1.80%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.52%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">73.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Selic</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.52%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Selic + 1.96%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.68%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">52.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.46%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Nov-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">URTJLP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10.34%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Mar-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2024</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 3.25%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">13.60%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">945.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">807.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.10%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.53%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">154.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">175.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.08%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">646.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2048</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Export credit agreement&#160;(ECA)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Euribor + 0.58%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.58%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">95.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">104.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">79.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">EUR</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2026</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
<br/>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">141</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><br/></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 736.781px;" width="100%">
<thead>
<tr style="height: 0px;">
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; break-after: avoid; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Description</span></p>
</th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Index</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">Annual </span><span style="font-weight: bold;">Interest</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 202</span><span style="font-weight: bold;">1</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 20</span><span style="font-weight: bold;">20</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 201</span><span style="font-weight: bold;">9</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Currency</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 21.7812px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21.7812px;" rowspan="2"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 24%;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 15%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 1.03%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10.79%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">86.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px; width: 9%;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 2.25%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12.28%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">60.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">May-2026</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 0.80%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10.02%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">515.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Resolution 4131&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.90%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">148.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Nov-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Debentures&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 1.79%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.10%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">753.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2027</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 1.30%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10.57%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">746.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2027</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.77%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.77%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">694.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2031</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">EIB&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + 3.88%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.88%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">31.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + 2.94%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.94%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">29.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + Libor 6-month + 0.54%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.80%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">30.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">71.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">May-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + Libor 6-month + 0.61%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.89%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">57.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">89.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;">
<p style="border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt 2.55pt 0pt 0pt; padding-top: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">7,911.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;">
<p style="border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt 2.55pt 0pt 0pt; padding-top: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">5,147.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;">
<p style="border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt 2.55pt 0pt 0pt; padding-top: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">3,712.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 18px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Unsecured</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><br/></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Foreign loans&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP + Libor 6-month + 1.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.40%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">143.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">150.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jul-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.40%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">37.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">35.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Nov-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP + Libor 6-month + 1.10%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.17%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">142.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">106.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP + Libor 6-month + 1.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.92%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">263.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">248.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">186.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">EUR | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.42%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">EUR</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.90%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">150.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">GBP</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ECN&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 1.03%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.12%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">82.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 0.80%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.72%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">505.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">512.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 3.05%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.01%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">208.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Mar-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 3.15%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.11%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">468.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Mar-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">125% of CDI</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">8.06%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2019</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Perpetual Notes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">8.25%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,825.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,631.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,040.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Resolution 4,131*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + Libor</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.90%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">81.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.79%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">20.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.60%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">483.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">217.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Nov-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.60%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">206.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + 3.67%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.67%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">438.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">415.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">313.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">May-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + 1.59%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.59%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">388.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + 1.36%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.36%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">414.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2024</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Banking credit certificates&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 0.81%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.31%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">239.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2048</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2023&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">685.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">569.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">439.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Mar-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2024&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.38%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,514.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,318.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2024</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2024&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.95%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,232.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">903.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2024</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2025&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.88%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,981.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,067.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,182.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2025</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2027&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,305.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,379.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,234.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2027</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2028&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.25%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,700.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,640.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2028</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2029&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4,226.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,932.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,071.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Senior Notes Due 2032&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ | Fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.20%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,800.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2032</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Working capital&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 2.75% </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10.90%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">100.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">100.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
<br/>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">142</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><br/></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 658.625px;" width="100%">
<thead>
<tr style="height: 0px;">
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; break-after: avoid; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Description</span></p>
</th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Index</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px; border-bottom-width: 1px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">Annual </span><span style="font-weight: bold;">Interest</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px; border-bottom-width: 1px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 202</span><span style="font-weight: bold;">1</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px; border-bottom-width: 1px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 20</span><span style="font-weight: bold;">20</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px; border-bottom-width: 1px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 201</span><span style="font-weight: bold;">9</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px; border-bottom-width: 1px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Currency</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px; border-bottom-width: 1px;" rowspan="2"><br/></th>
<th rowspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20.625px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Maturity</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20.625px;" rowspan="2"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 24%;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Bank overdrafts&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 15%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">125% of CDI</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.53%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%; border-bottom-width: 1px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%; border-bottom-width: 1px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">4.3 </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%; border-bottom-width: 1px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; width: 9%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px; width: 9%; border-bottom-width: 1px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jan-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Prepayment&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Libor 3-month + 3.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5.57%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">27.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Mar-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Libor 3-month + 1.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.59%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">111.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">104.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">80.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Nov-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Libor 12-month + 0.76%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.72%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">40.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$ + Libor</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3.64%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">U.S.$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2019</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.27% Base 360</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1.27%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">166.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jul-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Debentures&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">106% of CDI</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2.94%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,727.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.68%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">15.17%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">543.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">595.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">570.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2026</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.97%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,483.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">739.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">668.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Feb-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 5.57%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.29%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">108.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 2.65%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12.04%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,858.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,740.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2025</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 6.80%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">17.50%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">892.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">803.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2030</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 3.90%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.31%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,018.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,025.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">895.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.42%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">255.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">219.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2029</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 7.14%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">9.40%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">318.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 7.48%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">18.25%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">165.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">299.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">286.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 7.36%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">18.12%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">108.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">98.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">94.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2025</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 5.87%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16.48%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">873.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">890.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">860.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2023</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.33%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.79%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">501.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">452.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">431.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2024</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IGPM + 6.10%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12.11%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">352.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">298.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">240.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">May-2028</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 0.50% </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">9.70%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,033.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,007.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,015.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 3.60%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.53%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">361.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sep-2020</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 5.73%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16.33%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">505.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Oct-2033</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">14.42%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">952.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dec-2035</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 4.54%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">15.02%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">126.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jun-2036</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 1.95%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.28%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">717.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2024</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 5.12%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">15.66%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">485.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2031</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 5.22%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">15.77%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">477.6</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2036</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 1.65%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">7.90%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">774.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2028</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 2.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.33%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">930.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2031</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPCA + 5.75%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">16.35%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">374.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Aug-2031</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Promissory notes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 3.00%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12.33%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">601.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">CDI + 3.40%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">12.73%</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">520.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: center; height: 19px;">
<p style="margin: 0pt 5.2pt 1pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Apr-2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-align: right; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">37,74</span><span style="font-weight: bold;">7</span><span style="font-weight: bold;">.</span><span style="font-weight: bold;">7</span></span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">37,102.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt 2.55pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">25,339.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: center; height: 17px;">
<p style="margin: 0pt 5.2pt 0pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Consolidated Debt</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">45,659.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">42,249.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">29,052.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt 5.2pt 1pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -0.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Current</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">4,241.</span><span style="font-weight: bold;">3</span></span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">4,929.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">3,518.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 5.2pt 1pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: 0.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Non-current</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">41,417.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">37,320.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 2.55pt 1pt 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">25,534.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 5.2pt 1pt 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 10.5887%; border-bottom: 1pt solid #000000;"><br/></td>
<td style="width: 89.4113%;"><br/></td>
</tr>
</tbody>
</table>
<table style="width: 100%; margin-left: 0.1px; height: 21px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 21px;">
<td style="width: 3%; height: 21px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">*&#160;</span></td>
<td style="width: 97%; height: 21px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Resolution 4,131: funds raised outside of Brazil with several financial institutions.</span><br/></td>
</tr>
</tbody>
</table>
<div style="margin: 0px; text-indent: 0px;"><br/></div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">143</span></td>
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</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, the principal financing activities in 2022 through the date of this annual report are described below:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On January 7, 2022, Compass G&#225;s e Energia S.A. completed an issuance of simple, nonconvertible, unsecured debentures in a single series, in the amount of R$400.0 million. Interest accrues on the debentures at the CDI rate <span style="font-style: italic;">plus</span> 1.45% per annum. The debentures will mature in December 23, 2026. The proceeds of this issuance were used for working capital.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On February 4, 2022, Comg&#225;s entered into a loan agreement with Scotiabank in an aggregate principal amount of U.S.$200 million, which was disbursed in full on February 4, 2022. The loan agreement matures on February 4, 2025. Interest accrues at the CDI rate <span style="font-style: italic;">plus</span> 1.20% per annum. The proceeds were used for corporate purposes.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On February 18, 2022, Comg&#225;s drew down R$547 million under a BNDES FINEM (Project VIII) financing. Interest accrues at a rate equal to the IPCA rate <span style="font-style: italic;">plus</span> 3.25% per annum. The principal will be repaid in 144 instalments. The loan matures on June 15, 2034. The proceeds were used for capital expenditure purposes. </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 6, 2022, Cosan issued debentures in an aggregate principal amount of R$1,500.0 million divided into two tranches. The first tranche is in an aggregate principal amount of R$400.0 million, accrues interest at a rate equal to the CDI plus 1.50% and matures in May 2028, with the principal being due at maturity. The second tranche is in an aggregate principal amount of R$1,100.0 million, accrues interest at a rate equal to the CDI plus 1.90% and matures in May 2032, with the principal being due in the eighth, ninth and tenth years of the term.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Unused Sources of Liquidity</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, 2020 and 2019, we and our subsidiaries Rumo and Comg&#225;s had unused available credit lines in the amount of R$3,648.0 million, R$737.4 million and R$2,447.2 million, respectively. The use of these credit lines is subject to certain contractual conditions.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Working Capital</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, we had working capital of R$14,336.1 million, compared to R$10,887.9 million as at December 31, 2020. The difference between the position as of December 31, 2021 and December 31, 2020 was mainly attributable to an increase in cash and cash equivalents. See also &#8220;&#8212;Overview.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Capital Expenditures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our capital expenditures in property, plant and equipment, including acquisitions (net of cash acquired) were R$4,774.8 million during the fiscal year ended December 31, 2021, compared to R$4,034.7 million during the fiscal year ended December 31, 2020. For the fiscal year ended December 31, 2019 our capital expenditures were R$2,763 million.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In 2021, 2020 and 2019, our capital expenditures consisted primarily of the following:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Logistics</span>.<span style="font-style: italic;"> </span>Rumo has focused on investments in (i) the renovation of assets, in particular its locomotives and trailer fleet, (ii) construction works at Rumo Malha Central and the improvement of the Rumo Malha Paulista infrastructure; (iii) permanent infrastructure investments by way of the replacement of rails and ties; (iv) improvements and implementation of infrastructure in its terminals.<span style="font-style: italic;"> </span></span></li>
</ul>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">144</span></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><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Gas and Power</span>. Comg&#225;s has invested in the expansion of its network and has also undertaken network support investments in order to reinforce, restore and renovate the existing distribution network.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Moove</span>. Moove has invested in modernization and maintenance of its assets.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth our capital expenditures for the fiscal years ended December 31, 2021, 2020 and 2019:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-top: 0px; margin-bottom: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; height: 174px;" width="100%">
<thead>
<tr style="height: 31px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">For the Fiscal Year Ended </span><br/><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">December 31,</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px;"><br/></th>
</tr>
<tr style="height: 18px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">20</span><span style="font-weight: bold;">21</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">2020</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 2019</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">(in millions of </span><span style="font-style: italic; font-weight: bold;">reais</span><span style="font-weight: bold;">)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 65%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; page-break-after: avoid; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Logistics&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">3,453.4</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2,979.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; width: 10%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,943.1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Gas and Power&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,269.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,006.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">775.8</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moove&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">42.5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">29.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">32.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Investments&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">8.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Corporate&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; border-bottom: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;">0.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">18.9</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11.2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Total consolidated capital expenditures</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">4,774.8</span><span style="font-weight: bold;"> </span></span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">4,034.7</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">2,763.0</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The main planned and undergoing projects related to capital expenditures are described in &#8220;Item 4. Information on the Company&#8212;D. Property, Plant and Equipment.&#8221; We expect to fund such planned and undergoing projects primarily through our and our subsidiaries&#8217; working capital and existing or new indebtedness.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Contractual Financial Obligations</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth the maturity schedule of our material contractual financial obligations (contracted undiscounted cash flows basis) as of December 31, 2021:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 222px; text-indent: 0px;" width="100%">
<thead>
<tr style="height: 31px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 31px; width: 40.9648%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 9.97547%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Less than </span><br/><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">1 year</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 9.97547%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">1 to 3 years</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 9.97547%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">3 to 5 years</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 9.97547%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">More than </span><br/><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">5 years</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 9.97547%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Total</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 31px; width: 0.981194%;"><br/></th>
</tr>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 40.9648%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="13" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 57.7269%;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">(in millions of </span><span style="font-style: italic; font-weight: bold;">reais</span><span style="font-weight: bold;">)</span></span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 40.9648%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Loans, borrowings and debentures(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97547%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(5,845.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97547%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(6,628.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97547%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(12,124.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97547%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(32,777.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97547%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(57,375.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.981194%; background-color: #cceeff; height: 17px;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Trade payables&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3,253.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3,253.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other financial liabilities&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(726.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(726.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax installments &#8211; REFIS&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(52.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(3.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1.4</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(143.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(200.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Leases&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(413.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(413.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,133.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(13,671.3</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(15,631.8</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Lease and concession installments&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(188.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(201.9</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(198.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(596.7</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,185.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Payables to related parties&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<span style="border-left: none; border-right: none;">287</span>/<span style="border-left: none; border-right: none;">6</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(287.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dividends payable&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(799.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.97547%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(799.6</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.981194%;">)</td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 40.9648%;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Derivative financial instruments&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,064.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1.1</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">)</p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,380.0</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,998.5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6,313.2</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px; width: 40.9648%;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Total</span>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(12,631.2</span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(7,248.2</span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(12,077.4</span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(<span style="border-left: none; border-right: none;">41,189.</span><span style="border-left: none; border-right: none;">9</span></span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.981194%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.97547%; margin: 0px; text-indent: 0px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(73,146.7</span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; width: 0.981194%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 7.7269%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><br/></td>
<td style="width: 92.2731%;"><br/></td>
</tr>
</tbody>
</table>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 3%; vertical-align: top;" valign="top"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</span><br/></td>
<td style="width: 97%;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Include future interests based on the applicable rates as of December 31, 2021.</span></td>
</tr>
</tbody>
</table>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Since December 31, 2021, there have been no material changes to the contractual obligations described above.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our long-term debt consists primarily of:&#160;</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$685.5 million in senior notes due March 2023;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$2,981.3 million in senior notes due 2025 (redeemed on January 18, 2022);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$4,305.9 million in senior notes due January 2027;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$2,700.6 million in senior notes due January 2028;</span></li>
</ul>
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<tbody>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">145</span></td>
</tr>
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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="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$4,226.1 million in senior notes due September 2029;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$2,800.7 million in sustainability-linked senior notes due January 2032;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$2,825.4 million in perpetual notes;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$758.8 million in relation to the Export Credit Agreement due between January 2023 and 2026;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$4,808.2 million in BNDES (finance lease) financing due between 2025 and 2048;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$2,825.4 million in perpetual notes with a call option for Cosan S.A. beginning on November 5, 2015;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$853.2 million in the form of a Resolution 4,131-type due February 2024;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$12,977.1 million in debentures due between 2023 and 2036;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">R$1,494.9 million in other debts.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We believe we will be able to refinance our existing debt on favorable market conditions.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Off-Balance Sheet Arrangements</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We have no off-balance sheet arrangements to finance our operations. We have no subsidiaries in which we hold a majority or minority stake that are not included in our consolidated financial statements, nor do we have any interests in or relationships with any special purpose companies that are not reflected in our consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">However, we have entered, in the normal course of business, into several types of off-balance sheet arrangements, as set forth below:</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Acquisition of </span><span style="font-style: italic; font-weight: bold;">Assets</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Following the postponement of the 2014 Five-Year Tariff Review 2014 as a result of the publications of ARSESP Resolutions No. 493 and No. 494, both of which were published on May 27, 2014, which approved the &#8220;Tariff Review Process of Gas distribution companies in the State of S&#227;o Paulo, defining event schedule,&#8221; and the &#8220;Provisional adjustment of marketing margins of Companhia de G&#225;s de S&#227;o Paulo &#8212; COMG&#193;S,&#8221; we are not subject to any set regulatory commitment to purchase assets as of December 31, 2021, 2020 and 2019.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Leases</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee. Instead all leases are treated in a similar way to finance leases applying IAS 17. Leases are &#8220;capitalized&#8221; by recognizing the present value of the lease payments and showing them either as lease assets (right-of-use assets) or together with property, plant and equipment. If lease payments are made over time, a company also recognizes a financial liability representing its obligation to make future lease payments. Accordingly, we no longer have any off-balance sheet lease payments.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Brd_ERU7Z8LDC000000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">C. Research and Development, Patents, Licenses, etc.</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Patents, Licenses, Contracts and Processes&#8221; and &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Research and Development.&#8221;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bti_GMFDZT78NK00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">D. Trend Information</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following discussion is based largely upon our current expectations about future events, and material trends affecting our business. Actual results for the industries in which we operate and our performance could differ substantially. For further information related to our forward-looking statements, see &#8220;Forward-Looking Statements&#8221; and for a description of certain factors that could affect our industry in the future and our own future performance, see &#8220;Item 3. Key Information&#8212;D. Risk Factors.&#8221;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">146</span></td>
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</div>
<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Impact of COVID-19 on </span><span style="font-weight: bold;">Our </span><span style="font-weight: bold;">Business</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We expect that our business will continue to be affected by the COVID-19 pandemic and governmental responses to it, including by their respective impacts on our customers, suppliers and other third parties with whom we interact as well as on Brazilian and global economic conditions. See also &#8220;Item 3. Key Information&#8211;D. Risk Factors<span style="font-weight: bold;">&#8212;</span>Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;Our business, operations and results may be adversely impacted by COVID-19,&#8221; &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;Impact of COVID-19&#8221; and &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Impact of COVID&#8209;19.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Other Trends Affecting </span><span style="font-weight: bold;">Our </span><span style="font-weight: bold;">Business</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following list sets forth, in our view, the most important trends, uncertainties and events that are reasonably likely to continue to have a material effect on our revenues, income from continuing operations, profitability, liquidity and capital resources, or that may cause reported financial information to be not necessarily indicative of future operating results or financial condition:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">general economic, political, demographic and business conditions in Brazil and in the world (including any impact resulting from the ongoing war between Russia and Ukraine);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the economic and political situation in Brazil, including the potential impact of the upcoming 2022 Brazilian presidential elections on the Brazilian economy;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">developments and the perception of risk in other countries may adversely affect the Brazilian economy;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">potential inflation increases that could cause an increase in interest rates and lower growth in lending activities;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">continued market volatility and instability that could affect our revenues;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">restrictive regulations or government intervention;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">decreased liquidity in domestic and international capital markets;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">tax policies that could decrease our profitability;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">developments with respect to the COVID-19 pandemic in Brazil and globally (see &#8220;Item 3. Key Information&#8212;D. Risk Factors<span style="font-weight: bold;">&#8212;</span>Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;Our business, operations and results may be adversely impacted by COVID-19,&#8221; &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;Impact of COVID-19&#8221; and &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Principal Factors Affecting Our Results of Operations&#8212;Impact of COVID&#8209;19&#8221;); and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">currency fluctuation and exchange rate controls that could have an adverse impact on international investor.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For more information, see &#8220;Item 3. Key Information&#8212;D. Risk Factors&#8221; where we present the risks we face in our business that may affect our commercial activities, operating results or liquidity.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BCAE_J0CMGBVD3400000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">E. Critical Accounting Estimates</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our financial statements are presented in IFRS as issued by the IASB. For summary information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements, see &#8220;&#8212;Financial Presentation and Accounting Policies&#8212;Critical Accounting Policies and Estimates&#8221; and note 4.2 to our audited consolidated financial statements for the fiscal years ended December 31, 2021, 2020 and 2019, included elsewhere in this annual report.</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<br/>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI6_3AJU2HWEN400000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Item 6. Directors, Senior Management and Employees</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rubens Ometto Silveira Mello, who controls the majority of our common shares, has the overall power to control us, including the power to establish our management policies.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bada_5CSL5KXXPC00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">A. Directors and Senior Management</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our board of directors consists of at least five (5) members and at most twenty (20) members. Out of the members of the Board of Directors, at least two members or 20% of the members, whichever is higher, must be independent directors, as defined in the Novo Mercado Rulebook. The qualification of the members appointed as independent directors will be resolved upon at the shareholders&#8217; meeting that elects such independent directors. A director elected as permitted under article 141, paragraphs 4 and 5 of Brazilian Corporation Law will also be deemed an independent director if there is a controlling shareholder. Should compliance with the foregoing percentage requirement lead to a fractional number of directors, the number of directors will be rounded to the whole number immediately higher.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The number of directors to be elected for the upcoming term will be decided by a majority vote at the relevant shareholders&#8217; meeting. A shareholder or a group of shareholders representing at least 15% of the share capital of Cosan may separately elect up to one additional director. Additionally, shareholders representing a percentage of the share capital of Cosan of 10% (depending on the aggregate value of capital stock of Cosan at such time, pursuant to the applicable CVM ruling) may request that the election of directors be subject to cumulative voting proceedings, as provided for in article 141 of the Brazilian Corporation Law and CVM Ruling 165.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Board of Directors</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our board of directors is the decision-making body responsible for, among other things, determining policies and guidelines for our business. The board of directors also supervises our executive officers and monitors their implementation of policies and guidelines established from time to time by our board of directors.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table lists the members of our board of directors:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 170px;" width="100%">
<thead>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Name</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; border-bottom: 1pt solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Position</span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Year of Birth</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 56%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rubens Ometto Silveira Mello&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 16%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chairman</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1950</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marcelo Eduardo Martins&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Vice Chairman</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1966</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Burkhard Otto Cordes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1975</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Luis Henrique Cals de Beauclair Guimar&#227;es&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1966</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dan Ioschpe(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1965</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Pedro Isamu Mizutani&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1959</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Vasco Augusto Pinto da Fonseca Dias J&#250;nior(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1956</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jos&#233; Alexandre Scheinkman(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1948</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ana Paula Pessoa(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 22, 2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Director</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1967</span></p>
</td>
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<td style="width: 8.62633%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><br/></td>
<td style="width: 91.3737%;"><br/></td>
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<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 3%;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)&#160;&#160;</span></td>
<td style="width: 97%;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Independent director.</span></td>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following is a summary of the business experience of our current directors. Unless otherwise indicated, the business address of our current directors is Av. Brigadeiro Faria Lima, 4,100 &#8211; 16th floor, S&#227;o Paulo &#8211; SP, 04538-132, Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Rubens Ometto Silveira Mello</span>. <span style="background-color: #ffffff;">Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Mello is </span><span style="background-color: #ffffff;">the</span><span style="background-color: #ffffff;"> chairman</span><span style="background-color: #ffffff;"> </span><span style="background-color: #ffffff;">of Cosan S.A., Compass, Rumo and Ra&#237;zen, besides being the controlling shareholder of these compani</span><span style="background-color: #ffffff;">es</span><span style="background-color: #ffffff;">. He holds a degree in mechanical engineering from the Polytechnic School of the University of S&#227;o Paulo (</span><span style="background-color: #ffffff; font-style: italic;">Escola Polit&#233;cnica da Universidade de S&#227;o Paulo</span><span style="background-color: #ffffff;">) (1972). Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Mello has more than 40 years of experience in the management of large companies. He has also served as general director and chairman of the board of directors of Costa Pinto S.A. since 1980 and officer and chairman of the board of directors of Aguassanta Participa&#231;&#245;es S.A., since 2001. Currently, Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Mello is the chairman of the boards of Compass, Comg&#225;s, Rumo, Ra&#237;zen, Radar and Moove. He is also one of the founders of UNICA, the Sugarcane Agroindustry Association of the State of S&#227;o Paulo (</span><span style="background-color: #ffffff; font-style: italic;">UNICA&#8212;Uni&#227;o da Agroind&#250;stria Canavieira do Estado de S&#227;o Paulo</span><span style="background-color: #ffffff;">). Prior to joining Cosan, Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Mello worked from 1971 to 1973 as an advisor to the board of </span><span style="background-color: #ffffff;">executive officers of UNIBANCO Uni&#227;o de Bancos Brasileiros S.A., and from 1973 to 1980 as chief financial officer of Ind&#250;strias Votorantim S.A.&#160;</span></span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">148</span></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="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Marcelo Eduardo Martins</span>. <span style="background-color: #ffffff;">Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Martins became an executive officer of Aguassanta Participa&#231;&#245;es S.A. in July 2007. Since then he has held various significant positions at companies with the Cosan group. He is currently</span><span style="background-color: #ffffff;"> </span><span style="background-color: #ffffff;">a</span> member of our board of directors and our chief strategy officer and our former chief financial officer and investor relations officer<span style="background-color: #ffffff;">. Prior to joining the Cosan Group, Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Martins was the </span><span style="background-color: #ffffff;">chief financial </span><span style="background-color: #ffffff;">and </span><span style="background-color: #ffffff;">business development officer </span><span style="background-color: #ffffff;">of Votorantim Cimentos between July 2003 and July 2007 and, prior to that, head of Latin American Fixed Income at Salomon Smith Barney (Citigroup) in New York. He has significant experience in capital markets, having worked at Citibank (where he began his career as a trainee in 1989), Unibanco, UBS and FleetBoston. He has a degree in business administration from the FGV</span>.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Burkhard Otto Cordes</span>. Mr. Cordes has been a member of our board of directors since 2005. He holds a degree in business administration from Funda&#231;&#227;o Armando &#193;lvares Penteado (1997) and an MBA in finance from IBMEC-SP (2001). Mr. Cordes has worked in financial markets at Banco BBM S.A., a company owned by Grupo Mariani, where he worked in the commercial division focusing on the corporate and middle market segments. Before holding his current position, he had worked at IBM Brasil in its financial division. Mr. Cordes is Mr. Mello&#8217;s son-in-law.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="background-color: #ffffff; font-style: italic;">Luis Henrique Cals de Beauclair Guimar&#227;es</span><span style="background-color: #ffffff;">.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Guimar&#227;es is our chief executive officer</span><span style="background-color: #ffffff;"> </span><span style="background-color: #ffffff;">and a member of our board of directors</span><span style="background-color: #ffffff;">. He was also the chief executive officer of Cosan Limited from April 1, 2020 until Cosan Limited&#8217;s merger with and into Cosan S.A.. Prior to that he had been chief executive officer of Ra&#237;zen since April</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">1, 2016. He was formerly the chief executive officer of Comg&#225;s, and after that, the fuels operational officer and person responsible for Ra&#237;zen&#8217;s downstream division, which covers the retail, commercial and aviation businesses. Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Guimar&#227;es joined Shell in 1987 and worked in several positions in the lubricants and retail businesses in Brazil and abroad (based in London). From 2007 until September 2010, he served as Shell&#8217;s chief marketing officer for lubricants in North America, based in Houston. Mr.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Guimar&#227;es has a bachelor&#8217;s degree in statistics and an MBA in marketing from Coppead &#8211; Universidade Federal do Rio de Janeiro.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Dan Ioschpe</span>. Mr. Ioschpe has been a member of our board of directors since 2014. He joined Iochpe-Maxion in 1986, where he held several positions until June 1996, when he left to take the presidency of AGCO in Brazil. He returned to Iochpe-Maxion in January 1998, becoming chief executive officer in the same year. He remained chief executive officer until March 2014, when he became chairman of the board of directors of Iochpe-Maxion. Mr. Ioschpe is also currently a member of the boards of directors of Embraer, WEG S.A., Marcopolo S.A. e BRF S.A. He graduated from the Federal University of Rio Grande do Sul with a bachelor&#8217;s degree in journalism, and also has a postgraduate degree from the Escola Superior de Propaganda e Marketing &#8211; SP as well as an MBA from the Amos Tuck School of Business at Dartmouth College (in the United States).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Pedro Isamu Mizutani.</span> Mr. Mizutani has been a member of our board of directors since 2021 and has more than 20 years of experience in the business and financial departments of sugar cane companies. He also worked at Costa Pinto S.A. as planning supervisor, financial manager, and as administrative and financial superintendent. From 1990 to 2001, he served as administrative and financial officer of the Cosan group, and in 2001 he became a superintendent officer responsible for the coordination of strategic and operating activities of the commercial, administrative, financial, agricultural and industrial areas. In 2011, he became vice chairman and operations officer of Ra&#237;zen, where he remained in office until 2019. Mr. Mizutani holds a bachelor&#8217;s degree in production engineering from Escola Polit&#233;cnica da Universidade de S&#227;o Paulo (1982) and a post-graduate degree in finance from UNIMEP &#8211; Universidade Metodista de Piracicaba and also an MBA in business management from Funda&#231;&#227;o Get&#250;lio Vargas &#8211; FGV with an extension course at Ohio University.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Vasco Augusto Pinto da Fonseca Dias J&#250;nior</span><span style="font-style: italic;">.</span> Mr. Dias J&#250;nior has been a member of our board of directors since 2021. He joined Shell Group as intern in 1979 and later became analyst and chief of systems. In December 2000, he left Shell Group to become executive officer of Companhia Sider&#250;rgica Nacional &#8211; CSN. He returned to Shell Group in 2005 as chairman for Latin America. He also served as officer chairman of Ra&#237;zen from 2011 to March 2016. Mr. Dias J&#250;nior holds a bachelor&#8217;s degree in systems engineering from Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro.</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Jos&#233; Alexandre Scheinkman</span><span style="font-style: italic;">.</span> Mr. Scheinkman has been a member of our board of directors since 2021 and is a professor at Columbia University and professor of economics at Theodore A. Wells &#8216;29 (Emeritus) at Princeton University. He is member of several research groups and associations, including the National Bureau of Economic Research and Cambridge Endowment for Research in Finance. He received the title of Doctor Honoris Causa from Universit&#233; Paris Dauphine in 2001. He is member of the Scientific Board of Europlace Institute of Finance (Paris), National Academy of Sciences, American Finance Association and Academic Board of INSPER. Previously, he was financial strategy vice chairman of Goldman, Sachs &amp; Co., a member of Axion Investments from 2003 to 2013, co-editor of the Journal of Political Economy and a member of the economic advisory group of Foundation Sloan. Mr. Scheinkman holds a bachelor&#8217;s degree in economics from Universidade Federal do Rio de Janeiro and a master&#8217;s degree and PhD in economics from the University of Rochester, as well as a master&#8217;s degree in mathematics from the Institute of Pure and Applied Mathematics.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Ana Paula Pessoa.</span> Ms. Pessoa has been a member of our board of directors since 2021 and is a partner, investor and chairman of the board of directors of Kunumi AI, a Brazilian artificial intelligence company. She is also a member of the global board of Credit Suisse, in Zurich, of News Corporation, in New York, and of Vinci Group, in Paris. Her voluntary activities concentrate on educational initiatives and environmental concerns to foment sustainable growth. She is a member of the global board of Stanford University, in California, the advisory board of The Nature Conservancy Brazil, the audit committee of Funda&#231;&#227;o Roberto Marinho, and Instituto Atlantico de Gobierno, Madrid. She was the financial officer of the Rio 2016 Olympic and Paralympic Organizing Committee. She is an independent member of the boards of directors of Suzano, Vinci and Credit Suisse. She was a partner and founder of Brunswick S&#227;o Paulo and worked for 18 years in several companies of Organiza&#231;&#245;es Globo. She worked for the United Nations Development Program and for the World Bank in the United States and in Africa. Ms. Pessoa holds bachelor&#8217;s degree in economics and international relations and a master&#8217;s degree in development economics from Stanford University.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Executive Officers</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our executive officers serve as our executive management body. They are responsible for our internal organization and day-to-day operations and for the implementation of the general policies and guidelines established from time to time by our board of directors.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our by-laws require that its board of executive officers consist of a minimum of three and a maximum of eight officers, each responsible for a specific area of the business.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table lists our current executive officers:<span style="vertical-align: super;"> </span></span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Luis Henrique Cals de Beauclair Guimar&#227;es&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 6.2pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 2, 2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1966</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ricardo Lewin&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 6.2pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 2, 2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Financial and Investor Relations Officer</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1974</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marcelo Eduardo Martins&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 6.2pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 2, 2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Strategy Officer</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1966</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Maria Rita de Carvalho Drummond&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 6.2pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 2, 2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">General Counsel</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1980</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following is a summary of the business experience of our executive officers who are not CSAN directors. Unless otherwise indicated, the business address of the executive officers is Avenida Brigadeiro Faria Lima, 4,100 &#8211; 16th floor, Room 1, S&#227;o Paulo &#8211; SP, 04538-132, Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Luis Henrique Cals de Beauclair Guimar&#227;es. </span>See &#8220;&#8212;Board of Directors.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Ricardo Lewin.</span> Mr. Lewin is the vice president of finance and investor relations officer and served as a director of Rumo, a subsidiary of the Company, between 2017 and 2021. Previously, Mr. Lewin was head of mergers and acquisitions at Cosan S.A. for nine years. He also worked for Votorantim Cimentos, Banco BBV and Banco Ita&#250;. Mr. Lewin holds a bachelor&#8217;s degree in engineering from the Polytechnic School of the University of S&#227;o Paulo and an MBA from the University of California at Berkeley.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Marcelo Eduardo Martins. </span>See &#8220;&#8212;Board of Directors.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Maria Rita de Carvalho Drummond. </span>Ms. Drummond has been our legal officer since 2011. She joined the Cosan Group in 2008<span style="background-color: #ffffff;">, after leaving the law firm Barbosa, Mussnich e Arag&#227;o, where she worked from 2000 to 2004 and from 2007 to 2008. Ms.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Drummond was a manager for Latin America at BAT, the controlling shareholder of Souza Cruz S.A., based in London, from 2004 to 2005. In 2019, Ms.</span><span style="background-color: #ffffff;">&#160;</span><span style="background-color: #ffffff;">Drummond was appointed by the Brazilian </span><span style="background-color: #ffffff;">Association of Listed Companies (</span><span style="background-color: #ffffff; font-style: italic;">Associa&#231;&#227;o Brasileira das Companhias Abertas</span><span style="background-color: #ffffff;">) to hold a position on the Appeal Council of the National Financial System (</span><span style="background-color: #ffffff; font-style: italic;">Conselho de Recursos do Sistema Financeiro Nacional</span><span style="background-color: #ffffff;">), with a mandate until March 2022</span>. Ms. Drummond<span style="background-color: #ffffff;"> holds a law degree from </span>Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro<span style="background-color: #ffffff;">, a postgraduate degree in civil law from Universidade Estadual do Rio de Janeiro and a master</span><span style="background-color: #ffffff;">&#8217;</span><span style="background-color: #ffffff;">s degree in international law from the London School of Economics. She is currently a member of the board of </span><span style="background-color: #ffffff;">directors of Rumo S.A., serving until </span><span style="background-color: #ffffff;">August 2023.</span></span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Key </span><span style="font-style: italic; font-weight: bold;">Managers</span></span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Initial Year of Appointment</span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Position Held</span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">Year</span><span style="font-weight: bold;"> of Birth</span></span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Nelson Roseira Gomes Neto&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2020</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer&#8211;Compass</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1970</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ant&#244;nio Sim&#245;es Rodrigues J&#250;nior&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2020</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer&#8211;Comg&#225;s</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1974</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Guilherme Lelis Bernardo Machado&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2018</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Financial Officer and Investor Relations Officer&#8212;Comg&#225;s</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1978</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dem&#233;trio Antonio de Toledo Magalh&#227;es Filho &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Financial Officer and Investor Relations Officer &#8212;Compass</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1983</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jo&#227;o Alberto Fernandez Abreu&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2019</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer&#8212;Rumo</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1970</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rafael Bergman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Financial Officer and Investor Relations Officer&#8212;Rumo</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1978</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Daniel Rockenbach&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2021</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Operational Officer&#8212;Rumo</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1966</span></p>
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<p style="margin: 0pt 6.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Filipe Affonso Ferreira&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">2018</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer&#8212;Moove</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1965</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following is a summary of the business experience of our key managers.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Nelson Roseira Gomes Neto</span>. Mr. Gomes Neto is the Chief Executive Officer of Compass and a member of the board of directors of Comg&#225;s. He joined ExxonMobil Corporation in 1991 as a trainee. Throughout the course of his career, he has served in positions of increasing managerial responsibility in several business lines such as Fuels Marketing, Convenience Retailing, Natural Gas, and since 2001 part of Lubricants business. In February 2008, he was appointed Brazil Lubricants Officer to Esso Brasileira de Petroleo Limitada, and in December 2008, he was appointed as Vice President of the Lubricants segment. Mr. Gomes Neto holds a bachelor&#8217;s degree in engineering from Catholic University of Paran&#225; (1992), a master&#8217;s degree in corporative finance at Funda&#231;&#227;o Getulio Vargas (1998) and an MBA from COPPEAD &#8211; UFRJ (2001).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Antonio Sim&#245;es Rodrigues J&#250;nior</span>. Before his election as Chief Executive Officer of Comg&#225;s, Mr. Sim&#245;es held the position of energy director at Ra&#237;zen. He was alternate member of the board of directors of Logum (ethanol pipeline system) and member of the executive board of Petr&#243;leo Sabb&#225; S.A. Previously, he held the position of director of logistics and trading offshore at Ra&#237;zen, based in Geneva, where he was responsible for the development and operation of the company&#8217;s global ethanol trading. Between 1997 and 2010, he held several positions in trading, supply and logistics at Shell, in Rio de Janeiro, London and Dubai. Mr. Antonio is a production engineer graduated from Universidade Federal Fluminense, with an MBA in marketing from CEFET-RJ.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Guilherme </span><span style="font-style: italic;">Lelis Bernardo</span><span style="font-style: italic;"> </span><span style="font-style: italic;">Machado</span>. Mr. Machado currently serves as Chief Financial and Investor Relations Officer of Comg&#225;s. He has 16 years of professional experience, having previously worked at Esso Brasileira de Petr&#243;leo, at Cosan S.A. and at Rumo. Mr. Machado<span style="font-style: italic;"> </span>holds a bachelor&#8217;s degree in production engineering from the Federal Fluminense University in Rio de Janeiro and a master&#8217;s degree in economics and business finance from FGV/RJ.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Dem&#233;trio Antonio de Toledo Magalh&#227;es Filho. </span>Mr. Magalh&#227;es Filho is the Chief Financial and Investor Relations Officer of Compass. He has worked in several finance positions at EMI Music and British American Tobacco. In 2011, he joined Ra&#237;zen in the financial and strategic planning area, and subsequently, in 2014, he held the position of Trading Finance Director in Geneva. Between 2019 and 2021, he was the Marketing &amp; Services (Downstream) Finance Director at Ra&#237;zen. In 2021, he has also led the initial public offering process of Ra&#237;zen. Mr. Magalh&#227;es Filho holds a business administration degree from the Universidade do Estado do Rio de Janeiro (UERJ) and a master&#8217;s degree in commodity trading from the Universit&#233; de Gen&#232;ve.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Jo&#227;o Alberto Fernandez Abreu</span>. Mr. Fernandez de Abreu is Chief Executive Officer of Rumo and its concessionaires, and is a member of the board of Iogen Energy. Mr. Fernandez de Abreu served as chief operating officer of Ra&#237;zen Energia, and also worked for 18 years at Shell, where he held several positions in retail, including in Brazil, England and Argentina. He began his career at Ra&#237;zen Energia as commercial executive director and board member of Petr&#243;leo Sabb&#225;, an affiliate of Ra&#237;zen in northern Brazil. In 2012, he became director of bioenergy and technology for Ra&#237;zen&#8217;s ethanol, sugar and bioenergy business. In 2014, he became the agro industrial executive director of Ra&#237;zen. He was responsible for the development and implementation of Ra&#237;zen&#8217;s first integrated second-generation ethanol plant<span style="font-style: italic;">. </span>Mr. Fernandez de Abreu holds a mechanical and production engineering degree from PUC/RJ and also has an MBA from Funda&#231;&#227;o Dom Cabral.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">151</span></td>
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<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Rafael Bergman</span>. Mr. Bergman is the Financial and Investor Relations Officer of Rumo S.A.. He joined the Shell Group in 1999 and has held positions of increasing responsibility in Brazil, England and The Netherlands. In 2011, he joined Ra&#237;zen and in 2016 he joined Comg&#225;s as chief financial officer. In May 2018, he was appointed chief operating officer of Comg&#225;s. Mr. Bergman holds a business administration degree in economics from the Pontifical Catholic University of Rio de Janeiro (1998) and a master&#8217;s degree in finance from the London Business School (2004).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Daniel Rockenbach</span>. Mr. Rockenbach joined Rumo in 2010, when he was appointed director of commercial and operational matters. He held this position until July 2013, when he became the Chief Executive Officer of Rumo. During his career, Mr. Rockenbach has worked at companies such as Ambev, ALL (as a corporate manager responsible for the mining, metallurgy and agriculture sectors) and MRS Log&#237;stica (as an industrialized products manager). Recently, Mr. Rockenbach assumed the position of chief operational officer, responsible for the South and West Operations. Mr. Rockenbach holds a bachelor&#8217;s degree in business administration from the Pontificia Catholic University of Rio Grande do Sul, a post-graduate degree in marketing from the Federal University of Rio Grande do Sul, and an AMP from the Wharton School of the University of Pennsylvania.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Filipe Affonso Ferreira</span>. Mr. Ferreira is the Chief Executive Officer of Moove for Brazil. He has professional experience accumulated during an international career. He began his career in finance, covering the areas of strategic planning and business management in large multinational companies such as Alcoa, Mars, Goodyear and Bunge. At the last three companies, he occupied the position of chief executive officer for Brazil and Latin America and led a successful turnaround processes while implementing business growth strategies. Mr. Ferreira holds a degree in business administration from Pontifical Catholic University of Campinas.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, our Joint Venture with Shell is run by a management team drawn from Cosan S.A. and Shell with a proven track record in sugar, ethanol and fuels. The executive team is composed of:</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Ricardo Dell Aquila Mussa</span>.<span style="font-style: italic;"> </span>Mr. Mussa has managed logistics, supply and distribution for the Ra&#237;zen joint venture since January 2017. With the election of Mr. Guimar&#227;es to the position of chief executive officer of the Company, Mr. Mussa became Chief Executive Officer of Ra&#237;zen on April 1, 2020. He has held various positions in the supply chains of multinationals such as Unilever and Danone, principally in the purchasing of agricultural commodities. He was national logistics manager for Danone in 2007 and manufacturing manager at the principal cosmetics plant of Unilever in Latin America in 2006 and 2007. He was also global director for purchasing of oils and fats at Unilever and responsible for agricultural commodities purchasing in over 25 countries. In 2002, he worked for Unilever USA in Connecticut in the strategic purchasing sector&#8212;he also worked in the planning department and was responsible for the purchasing of chemical products in Latin America. He joined Cosan S.A. in 2007 and was one of the founders of Radar, and was its chief executive officer for five years. In 2014, he took the helm of Cosan S.A.&#8217;s lubricants business and more recently became an Executive in Ra&#237;zen. Mr. Mussa holds a bachelor&#8217;s degree in production engineering from the Polytechnic School of the University of S&#227;o Paulo (<span style="font-style: italic;">Escola Polit&#233;cnica da Universidade de S&#227;o Paulo</span>).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Guilherme Jos&#233; de Vasconcelos Cerqueira</span>. Mr. Cerqueira is the chief financial officer and officer for investor relations of the Joint Venture. Since 1988, Mr. Cerqueira has held several positions within the Shell Group, including management positions at Shell International Ltd., in London, United Kingdom, between 2004 and 2007. At Ra&#237;zen, he held the position of controller from Ra&#237;zen&#8217;s creation in April 2011 until April 2014, when he became chief financial officer responsible for finance, contracting, procurement and investor relations. Mr. Cerqueira led the team responsible for the issuance of Ra&#237;zen&#8217;s first asset-backed bond (Agriculture Receivable Security) at the end of October 2014, which opened the market for the whole industry: the transaction gathered interest from over 2,000 investors and raised R$675 million. Mr. Cerqueira holds a bachelor&#8217;s degree in mechanical engineering from the Universidade Federal do Rio de Janeiro. He also holds an MBA from COPPEAD.</span></p>
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<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Jos&#233; Leonardo Martin de Pontes</span>. Mr. Pontes has assumed a senior leadership position at Cosan Investments. He was the executive officer for fuels distribution at Ra&#237;zen Combust&#237;veis. Prior to holding this position, he was the executive director for logistics, responsible for all the fuels operations in Brazil and global ethanol and sugar operations. From 2011 to 2013 he was head of the business-to-consumer and business-to-business commercial departments. Mr. Pontes has 18 years of experience in the fuels and energy markets. At the Shell Group, he worked for 13 years in Brazil and Europe in several positions, including positions relating to global fuels pricing strategy, commercial and business development and strategic planning. In 2009, Mr. Pontes led the retail strategy and general management of business development for Latin America. Mr. Pontes holds a bachelor&#8217;s degree in business administration with an emphasis on finance from Rio de Janeiro State University and post graduate degrees in strategy, negotiation and leadership from the universities of Cranfield, Harvard and INSEAD, respectively.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The executive board of the Joint Venture is overseen by the supervisory board. The supervisory board is responsible for appointing members of the executive board and monitors the activities and reports of the executive board. The supervisory board consists of three directors nominated by Cosan and three directors nominated by Shell. Our chairman, Rubens Ometto Silveira Mello, is the chairman of the supervisory board. Cosan and Shell have each designated a shareholder representative who is responsible for determining the Joint Venture&#8217;s strategic priorities and resolving any deadlock within the supervisory board. Our shareholder representative is Rubens Ometto Silveira Mello.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Committees of the Board of Directors</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Audit Committee</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our audit committee is a statutory and permanent body, responsible for undertaking technical and/or consultancy functions. Our audit committee comprises three members, elected by our board of directors for a renewable two-year term of office, all of whom are independent and will preferably have experience in compliance. Our audit committee was created on March 28, 2012 at an extraordinary shareholders&#8217; meeting. Our audit committee is governed by internal regulations that were approved by a meeting of our board of directors on October 29, 2018.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our audit committee has the following responsibilities:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">voicing an opinion on retaining or discharging an independent auditor and supervising the activities of such auditor, as well as supervising our internal controls, internal audits and the team in charge of preparing our financial statements;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">monitoring the quality and integrity of internal control mechanisms and financial statements, including quarterly and interim financial information and statements;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">assessing and monitoring our risk exposure, with the power to require detailed information on policies and procedures in connection with management compensation and the use of company assets and expenses incurred on our behalf;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">assessing and monitoring, jointly with management and our internal audit area, the adequacy and respective outcomes of our transactions with related parties; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">preparing a summary of the annual report to be submitted with the financial statements, containing a description of:</span></li>
<li>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the committee&#8217;s activities, results, conclusions reached and recommendations made; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">any situations in which there may be an express difference among our management, our independent auditors and our audit committee regarding our financial statements.</span></li>
</ul>
</li>
</ul>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth certain information related to the current members of our audit committee, all of whom are independent:<span style="vertical-align: super;"> </span></span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">153</span></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="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 69px;" width="100%">
<thead>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Name</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Date of Election</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Position</span></p>
</th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 69%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jos&#233; Alexandre Scheinkman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 15%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">February 5, 2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 15%;">
<p style="margin: 0pt 9.35pt; text-align: center; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Coordinator</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Jo&#227;o Ricardo Ducatti&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">February 5, 2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-align: center; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
</td>
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<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Fel&#237;cio Mascarenhas de Andrade&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">February 5, 2021</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-align: center; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms of the current members of our audit committee expire in February 2023.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">We present below a brief biographical description of each member of our audit committee.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Jos&#233; Alexandre Scheinkman</span>. See &#8220;&#8212;Board of Directors.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Jo&#227;o Ricardo Ducatti</span>. Mr. Ducatti is a business manager. He worked at Westinghouse of Brazil from 1973 to 1982, where he was a financial resources manager and a treasurer for Latin America, then as business manager of Usina Barbacena, located in Ribeir&#227;o Preto, in 1982 and 1983. He was also an administrative and financial officer of Grupo Bom Jesus, which produces sugar and ethanol and is located in Piracicaba, from 1983 to 1991, and an administrative and financial officer of the Cosan Group, which produces sugar and ethanol and is also located in Piracicaba, from 1991 to 1995. He was also a managing officer of SUCRESP, a professional association representing 17 mills producing sugar and alcohol, from 1995 to 1999. From 1999 to the present, he has focused on providing economic and financial advisory services, asset valuation, management of corporate structuring, sales development of equity and other associated activities, through his company, RDR Consultores Associados Ltda. Mr. Ducatti holds a bachelor&#8217;s degree in business administration from <span style="font-style: italic;">Faculdade de Ci&#234;ncias Administrativas e Cont&#225;beis Tabajara</span>.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Fel&#237;cio Mascarenhas de Andrade</span>. Mr. Andrade is a founding partner of Vecte, which provides expert advice on good corporate governance practices. He spent his career in international consulting firms such as Andersen, Accenture, EY and KPMG. Throughout his career he has advised tens of large Brazilian companies on improving their financial management, governance mechanisms, financial risk management, and preparation for IPOs, among other themes related to the growth and protection of shareholder value. Mr. de Andrade is a member of the IBGC in S&#227;o Paulo and teaches risk management and corporate governance classes in MBA programs in S&#227;o Paulo and Curitiba. Mr. Andrade holds a bachelor&#8217;s degree in computer science from <span style="font-style: italic;">Universidade Estadual Paulista </span>and an MBA from IBMEC.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our board of directors has determined that Jos&#233; Alexandre Scheinkman, Jo&#227;o Ricardo Ducatti and Fel&#237;cio Mascarenhas de Andrade meet the independence requirements of the SEC and the NYSE listing standards, and Mr. Jos&#233; Alexandre Scheinkman is our audit committee financial expert.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See also &#8220;Item 6. Directors, Senior Management and Employees&#8212;C. Board Practices&#8212;Summary of Significant Differences of Corporate Governance Practices&#8212;Audit Committee and Audit Committee Additional Requirements&#8221;&#160; and &#8220;Item 16D. Exemptions from the Listing Standards for Audit Committees.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">People and </span><span style="font-style: italic; font-weight: bold;">Nominating</span><span style="font-style: italic; font-weight: bold;"> Committee</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our people and nominating committee was established on August 18, 2011 and was re-constituted on April 27, 2017. On January 27, 2022, the committee was re-named the people and nominating committee effective immediately (it was previously known as the human resources committee). It comprises three members each appointed on a two-year term. Our people and nominating committee is governed by internal regulations that were approved at a meeting of our board of directors on January 27, 2022.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The role of our people and nominating committee is to provide guidance for strategic decision-making in relation to human resources, including, but not limited to, determining issues relating to compensation, goals, diversity, development, succession, leadership, and the identification, recruitment, interviewing and selection of potential candidates to fill vacancies on our board of directors or officers, among others. Furthermore, the committee also advises our board of directors on matters relating to the fixed and variable compensation of our directors, officers, members of our fiscal council and other employees, the definition and control of targets, as well as providing information to our board of directors.</span></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">154</span></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="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth certain information related to the current members of our people and nominating committee:<span style="vertical-align: super;"> </span></span></p>
<table cellpadding="0" style="height: 68px; border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<thead>
<tr style="height: 17px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Name</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Date of Election</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Position</span></p>
</th>
</tr>
</thead>
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 69%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rubens Ometto Silveira Mello&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Burkhard Otto Cordes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dan Ioschpe&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms of the current members of our people and nominating committee expire on January 2024.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See &#8220;&#8212;Board of Directors&#8221; above for a brief biographical description of each member of our People and nominating Committee.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Strategy and Sustainability Committee</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our Strategy and Sustainability Committee was established on January 27, 2022. The committee is comprised of four members, each appointed on a two-year term. Our Strategy and Sustainability Committee is governed by internal regulations that were approved at a meeting of our board of directors on January 27, 2022.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The role of our Strategy and Sustainability Committee is to assess the strategy, objectives, and commitments of Cosan and its subsidiaries with respect to matters related to climate change, diversity and stakeholder involvement; to promote debate about matters related to sustainability, including by proposing objectives and targets; to oversee the sustainability committees of our subsidiaries, if applicable; and to provide support for our strategic development plan by assessing potential business opportunities that are presented to our executive officers.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth certain information related to the current members of our human resources committee:<span style="vertical-align: super;"> </span></span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<thead>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Name</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Date of Election</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Position</span></p>
</th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 69%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Luis Henrique Cals de Beauclair Guimar&#227;es&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; width: 15%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chairman</span></p>
</td>
</tr>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marcelo Eduardo Martins&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Vasco Augusto Pinto da Fonseca Dias J&#250;nior&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ana Paula Pessoa&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">January 27, 2022</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms of the current members of our Strategy and Sustainability Committee expire in January 2024.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See &#8220;&#8212;Board of Directors&#8221; above for a brief biographical description of each member of our Strategy and Sustainability Committee.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 9pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Fiscal Council</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian Corporation Law establishes the responsibilities, duties and powers of the fiscal council. Fiscal council resolutions are passed upon a majority of votes of members present at fiscal council meetings.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The role of our fiscal council is to: (1)&#160;supervise the actions of officers and directors, and their compliance with legal and statutory requirements; (2)&#160;voice its opinion regarding management&#8217;s annual report, and include in its report on such matter the additional information which it believes is necessary or useful to the deliberations of our general shareholders&#8217; meetings; (3)&#160;voice its opinion on the proposals of management bodies to be submitted to our general shareholders&#8217; meetings in relation to changes to the capital, issuance of debentures or subscription bonuses, investment plans or capital budgets, distributions of dividends, transformations, incorporations, mergers or spinoffs; (4)&#160;report to management on any mistakes, fraud or crime which it uncovers, and if management does not take appropriate action to protect our interests, report to the general shareholders&#8217; meeting, and recommend useful steps we may take in this regard; (5)&#160;call an ordinary general shareholders&#8217; meeting if management bodies delay the calling thereof for over a month, and extraordinary general shareholders&#8217; meetings whenever serious or urgent events occur, and include in the agenda for such meetings the items which it considers necessary; (6)&#160;analyze, at least on a quarterly basis, our financial statements; (7)&#160;review our financial statements for each fiscal year and voice its opinion thereon; and (8)&#160;exercise the aforementioned functions during a liquidation, taking into account the specific provisions governing such a situation.</span></p>
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<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following sets forth certain information related to the current members of our fiscal council:<span style="vertical-align: super;"> </span></span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Vanessa Claro Lopes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">April 29, 2022</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Carla Alessandra Trematore&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">April 29, 2022</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Member</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marcelo Curti&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">April 29, 2022</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms of the current members of our fiscal council expire at our ordinary general shareholders&#8217; meeting to be held in 2023.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Vanessa Claro Lopes</span>.<span style="font-style: italic;"> </span>Ms. Lopes is currently a member of the fiscal councils of Cosan S.A. and Comg&#225;s, a member of the audit committee at Tegma Logistica S.A. and a member of the audit committee at Embraer S.A.. She was formerly the chairman of the fiscal council of Via Varejo S.A. from 2014 to 2018, a member of the fiscal council of Terra Santa Agro S.A. from 2016 to 2018, a member of the fiscal council of Gerdau S.A from 2016 to 2017 and a member of the fiscal councils of Estacio Participa&#231;&#245;es S.A. and Renova Energia S.A. from 2017 to 2019. With over 25 years&#8217; experience in corporate governance and internal and external audits of large private and listed companies, she started her career at PricewaterhouseCoopers in advisory services and was responsible for the creation of the revenue assurance specialists department in Brazil for the telecoms sector. She was an executive officer and the head of the internal accounting department of TAM S.A. from 2010 to 2014, an executive officer and the head of the internal accounting department of Globex Utilidades S.A. (Grupo P&#227;o de A&#231;&#250;car) from 2004 to 2010 and a coordinator and the head of the accounting department of Grupo Telefonica from 2001 to 2004. She was formerly a professor of audit systems and information security at Objetivo University. Ms. Lopes holds an MBA from EAESP/FGV, a master&#8217;s degree in management systems from Universidade Federal Fluminense, a master&#8217;s degree in computer networks from S&#227;o Judas University, an accounting degree from Universidade Federal Fluminense and a systems analysis degree from FATEC/BS.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Carla Alessandra Trematore.</span> Ms. Trematore is currently a member of the fiscal councils of Cosan S.A. and Comg&#225;s. Ms. Trematore holds a Bachelor&#8217;s Degree in Computer Science from Universidade Estadual Paulista &#8211; UNESP and a Bachelor&#8217;s Degree in Accounting Sciences from the Pontifical Catholic University of Minas Gerais &#8211; PUC Minas. She worked at independent audit firms such as Arthur Andersen, Deloitte and EY between 1996 and 2010. She was also an internal audit manager at Confab, a publicly held Brazilian company controlled by the Italian-Argentine group Techint/Tenaris, and a partner at Hirashima &amp; Associados, where she led the accounting and financial consulting services. Ms. Trematore acted as a consultant for the Funda&#231;&#227;o Institute of Accounting, Actuarial and Financial Research &#8211; FIPECAFI, and was also a chairman of the Audit Committee of Caixa Econ&#244;mica Federal. She is currently a member of the fiscal councils of &#194;nima Educa&#231;&#227;o, ISA CTEEP and Localiza, and the audit committees of Grupo Oncocl&#237;nicas and Allied Tecnologia.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">Marcelo Curti</span>. Mr. Curti is currently a member of the fiscal councils of Cosan S.A. Mr. Curti was previously a managing partner of Rio Branco Consultores Associados Ltda. and of MAIOL Assessoria em Gest&#227;o Empresarial Ltda. He worked in the Safra Group from 1981 to 2008, where he was a statutory officer. He has also been a member of the fiscal council of Duke Energy S.A. and of Hypermarcas S.A. Mr. Curti holds a bachelor&#8217;s degree in economics from Funda&#231;&#227;o Armando &#193;lvares Penteado &#8211; S&#227;o Paulo (1985) and a postgraduate degree in business administration from Funda&#231;&#227;o Escola de Com&#233;rcio &#193;lvares Penteado (1986).</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Our Relationship with our Executive Officers, Directors and Key Managers</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Mr. Burkhard Otto Cordes is a member of Cosan S.A.&#8217;s boards of directors and serves as a financial manager at Aguassanta Participa&#231;&#245;es S.A. Mr. Cordes is Mr. Mello&#8217;s son-in-law. There are no arrangements or understandings with any of our shareholders, customers, suppliers or others, pursuant to which any director or member of our senior management has been or will be selected.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BBC_582LV7L3UO00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">B. Compensation</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under our current by-laws, our general shareholders&#8217; meeting is responsible for approving the annual aggregate compensation that we pay to the members of our board of directors and our executive officers. The aggregate amount of compensation paid to all members of the board of directors and its executive officers was R$252.2 million during the fiscal year ended December 31, 2021, R$118.7 million during the fiscal year ended December 31, 2020 and R$106 million in the fiscal year ended December 31, 2019. Our compensation strategy aims to reflect best market practice, help us retain our executives and incentivize them to produce superior results.</span></p>
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<p style="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our executive officers receive the same benefits generally provided to our employees. Members of our board of directors are not entitled to these benefits. We currently have no employment agreements with our directors and executive officers providing for benefits upon the termination of employment.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Equity-</span><span style="font-style: italic; font-weight: bold;">Based Compensation Plans</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, certain executive officers, managers and other eligible employees may receive equity-based compensation pursuant to our stock option plan.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">See &#8220;&#8212;E. Share Ownership&#8212;Equity-Based Compensation Plans&#8221; for information on the equity-based compensation plans in place at our Company.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BBP_9SHJOVSXPS00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">C. </span><span style="font-weight: bold;">Board Practices</span></span></a></div>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Summary of Significant Differences of Corporate Governance Practices</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Sarbanes-Oxley Act, as well as related rules subsequently implemented by the SEC, require foreign private issuers, such our Company, to comply with various corporate governance practices. In addition, following the listing of our ADSs on the NYSE, we are required to comply with the listing rules of the NYSE, or NYSE rules.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules include certain accommodations to corporate governance requirements that allow foreign private issuers, such as our Company, to follow &#8220;home country&#8221; corporate governance practices in lieu of the otherwise applicable corporate governance standards of the NYSE. Under NYSE rules, we are required to:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">have an audit committee or audit board in accordance with an exemption available to foreign private issuers, as discussed below;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">provide prompt certification by our chief executive officer of any material non-compliance with any corporate governance rules; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">provide a brief description of the significant differences between our corporate governance practices and the NYSE corporate governance practice required to be followed by U.S. listed companies.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A summary of the significant differences between our corporate governance practices and those required of U.S. listed companies is included below.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Majority of Independent Directors</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules require that a majority of the board of a listed company consist of independent directors. Independence is defined by various criteria, including the absence of a material relationship between the director and the listed company. Under the B3 listing rules, our board of directors must be composed of a minimum of two independent directors or a minimum of 20% of our total directors must be independent, whichever is greater. Additionally, pursuant to the Brazilian Corporation Law and CVM regulations, our directors are required to meet certain qualification requirements that address their compensation, duties and responsibilities. While our directors meet the qualification requirements of the Brazilian Corporation Law and CVM regulations, we do not believe that a majority of our directors would be considered independent under the NYSE rules test for director independence.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Executive Sessions</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules require that independent directors must meet at regularly scheduled executive sessions. The Brazilian Corporation Law does not have a similar provision, however, the by-laws may provide for such requirement. Under our by-laws, all directors shall meet at least four times each year.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Nominating/</span><span style="font-style: italic; font-weight: bold;">Corporate Governance Committe</span><span style="font-style: italic; font-weight: bold;">e and </span><span style="font-style: italic; font-weight: bold;">Compensation Committee</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules require that listed companies maintain a nominating/corporate governance committee and a compensation committee comprising entirely independent directors and governed by a written charter addressing each committee&#8217;s required purpose and detailing its required responsibilities. The responsibilities of the nominating/corporate governance committee include, among other matters, identifying and selecting qualified board member nominees and developing a set of applicable corporate governance principles. The responsibilities of the compensation committee, in turn, include, among other matters, reviewing corporate goals relevant to the chief executive officer&#8217;s compensation, evaluating the chief executive officer&#8217;s performance, approving the chief executive officer&#8217;s compensation levels and recommending to the board compensation of other executive officers, incentive compensation and equity-based compensation plans.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, we are not required to maintain a nominating committee, corporate governance committee or a compensation committee. Aggregate compensation for our directors and executive officers is established by our shareholders at annual shareholders&#8217; meetings. The allocation of aggregate compensation among our directors and executive officers is determined by our directors at board of director meetings. The Brazilian Corporation Law and CVM regulations establish rules in relation to certain qualification requirements and restrictions, compensation, duties and responsibilities of a company&#8217;s executives and directors. In addition to the foregoing, the Novo Mercado Rules applicable to us require that the board of directors of a company discusses and approves certain internal policies, including a compensation policy and a nominating policy.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Audit Committee and Audit Committee Additional Requirements</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under Section 303A.06 of the NYSE listing rules and the requirements of Rule 10A-3 under the Exchange Act, each U.S. listed company is required to have an audit committee consisting entirely of independent members that comply with the requirements of Rule 10A-3. In addition, the audit committee must have a written charter compliant with the requirements of Section 303A.07(b) of the NYSE listing rules, the listed company must have an internal audit function and the listed company must fulfill all other requirements of the NYSE and Rule 10A-3. The SEC has recognized that, for foreign private issuers, local legislation may delegate some of the functions of the audit committee to other advisory bodies. We have established a statutory audit committee. Our statutory audit committee meets the requirements for the exemption available to foreign private issuers under paragraph (c)(3) of Rule 10A-3 under the Exchange Act. The statutory audit committee is not the equivalent of, or wholly comparable to, a U.S. audit committee. Among other differences, it is not required to meet the standards of &#8220;independence&#8221; established in Rule 10A-3 and is not fully empowered to act on all the matters that are required by Rule 10A-3 to be within the scope of an audit committee&#8217;s authority.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Shareholder Approval of Equity Compensation Plans</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules provide for limited exceptions to the requirement that shareholders be given the opportunity to vote on all equity compensation plans and material revisions to those plans (which may be approved for an undefined period). In contrast, pursuant to the Brazilian Corporation Law, all stock option plans must be submitted for approval by the holders of our common shares.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Corporate Governance Guidelines</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules require that listed companies adopt and disclose corporate governance guidelines. We comply with the corporate governance guidelines under applicable Brazilian law and the Novo Mercado Rules. We believe the corporate governance guidelines applicable to us under Brazilian law are consistent with the NYSE rules. We have adopted and observe policies that deal with the public disclosure of all relevant information and which requires management to disclose all transactions relating to our securities as per CVM&#8217;s regulations and the Novo Mercado Rules.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Internal Audit Function</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">NYSE rules require that listed companies maintain an internal audit function to provide management and the audit committee with ongoing assessments of the company&#8217;s risk management processes and system of internal control.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">158</span></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="text-indent: 18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
</div><div id="Normadiv75" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Novo Mercado Rules provide that the listed companies are required to have an audit department whose activities are reported to our board of directors, and which among other matters, is responsible for assessing the quality and effectiveness of our risk management processes.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bde_YPZ8XV32I800000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">D. Employees</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we had </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10,581</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> employees (including employees of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> subsidiaries</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and excluding employees of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">). The following table sets forth the number of our total employees </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the dates indicated (including employees of Cosan Limited, Cosan, Cosan Log&#237;stica and their respective subsidiaries</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for dates prior to the Merger</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">):</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th colspan="7" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #ffffff; margin-left: 0.1px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">As of December 31,</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2021</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2020</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">2019</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 57%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">10,078</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; text-align: right; background-color: #cceeff; width: 2%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; text-align: right; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">11,189</span></p>
</td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; text-align: right; background-color: #cceeff; width: 2%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; text-align: right; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">11,114</span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; width: 1%;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Abroad</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px; vertical-align: top; height: 19px; text-align: right; border-bottom: 1pt solid #000000;">
<p style="border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">503</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; text-align: right; border-bottom: 1pt solid #000000;">
<p style="border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">482</span></p>
</td>
<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; text-align: right; border-bottom: 1pt solid #000000;">
<p style="border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">502</span></p>
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<td style="padding: 0px; vertical-align: top; border-bottom: 1pt solid #000000;"><br/></td>
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<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">10,581</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">11</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">671</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">11,</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">616</span></p>
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
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<td style="width: 22.4448%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><br/></td>
<td style="width: 77.5552%;"><br/></td>
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</table>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
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<td style="margin-left: 0.1px; vertical-align: top; width: 2%;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">(</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">1</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">)</span><br/></td>
<td style="width: 98%;"><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">As of December 31, 2021, 2020 and 2019, respectively, we had&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">9,070</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">,&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">10,090</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#160;and&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">9,990</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#160;male employees, and&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">1,511</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">,&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">1,581</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#160;and&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">1,686</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#160;female employees</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">, respectively</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#160;</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">(including employees of&#160;Cosan&#160;Limited,&#160;Cosan,&#160;Cosan&#160;Log&#237;stica&#160;and their respective subsidiaries for dates prior to the Merger)</span><span style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">.</span></td>
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<p style="margin: 0pt 0pt 0pt; text-indent: 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">During</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1, we had an average of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">422</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> temporary employees.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We believe that we have good relations with our employees and the unions that represent them. Collective bargaining agreements to which we are party have either one-year or two-year terms, are subject to annual renewal and are subject to changes in Brazilian law. We apply the terms of bargaining agreements entered into with the unions equally to unionized and non-unionized employees.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tal annual payroll was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,997.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for the year ended</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which includes a provision for vacations, and bonuses, taxes and social contributions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We offer our employees, including our executive officers, various benefits, which are provided in accordance with the employee</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s position in our company. Benefits include medical (including dental) assistance, meal and transport vouchers, life insurance, maternity leave, scholarships and funeral assistance and nursery assistance. All of our employees participate in profit sharing plans developed with the labor unions of which our employees are members, which provide performance-based compensation.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BESO_5ILH9EUIHS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">E. Share Ownership</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the following members of the board of directors and executive officers owned our shares and ADSs:</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Name</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Position Held &#8211;</span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cosan</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cosan </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Common Shares</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Cosan ADSs</span></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rubens Ometto Silveira Mello*</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 2.04415%;"><br/></td>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Chairman</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">562,702,674</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px; width: 17.3344%;">
<p style="margin: 0pt 0pt 0pt 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">27,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">402,567</span></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Others</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Board Members</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,663,985</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px; width: 2.04415%;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px; width: 17.3344%;">
<p style="margin: 0pt 0pt 0pt 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,894,240</span></p>
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<p style="margin: 0pt 0pt 12pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">*</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160;&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Shares owned directly and indirectly by Mr. Rubens Ometto Silveira Mello include the total shares of our controlling group, which is not wholly-owned by him.</span></p>
<p style="margin: 0pt 0pt 10pt 0px; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Other than as disclosed in the table above, none of the members of our board of directors or our executive officers currently owns or holds common shares or ADSs of our Company.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Equity-Based Compensation Plans</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Below is a description of our equity-based compensation plans. See note 2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements attached</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> hereto for additional information.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan S.A.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">At the shareholder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s meeting held on July 29, 2011, the guidelines for the outlining and structuring of the stock option compensation plan for our officers and employees were approved. These guidelines authorize the issuance of shares accounting for up to 5% of Cosan S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s total capital. This stock option plan was established to attract and retain officers and key employees, offering them the opportunity to become shareholders in our Company. On August 18, 2011, our board of directors approved a total stock option grant of up to 12,000,000 common shares to be issued or treasury shares held by us, corresponding to 2.41% of our share capital at that time. On August 18, 2011, 9,825,000 options related to the shared based compensation were granted.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If a holder of stock options ceases to be an executive officer, manager or eligible employee for any reason (other than redundancy, death, retirement or permanent incapacitation), after partially exercising his or her option to purchase our common shares, the options that have not yet been exercised will be extinguished as of the date that the holder ceases to be an executive officer, manager or eligible employee.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On May 21, 2013, our board of directors approved the second program of Stock Option Purchase or Subscription of Shares &#8211; Calendar Year 2013. As part of this approval, our board of directors determined that the beneficiaries may purchase or subscribe our common shares., with grants of up to 1 million shares, which options may be exercised after at least five years from the approval at a price of R$45.22 per share (such price to be adjusted pursuant to the IPCA until the date of the subscription or purchase).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 17, 2014, our board of directors approved the third program of Stock Option Purchase or Subscription of Shares &#8211; Calendar Year 2014. As part of this approval, our board of directors of determined that the beneficiaries may purchase or subscribe our common shares, with grants of up to 320,000 shares, which options may be exercised after at least five years from the approval at a price of R$39.02 per share (such price to be adjusted pursuant to IPCA index until the date of the subscription or purchase).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 31, 2015, a total of 759,000 options to purchase or subscribe our common shares were granted following a decision to that effect by our board of directors. The weighted average strike price of such outstanding options is R$19.96 per share (such price to be adjusted monthly pursuant to IPCA index until the date of the subscription or purchase). </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On April 27, 2017, a stock grant plan </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was approved at</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> our s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">hareholder&#8217;s meeting of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which was intended </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> provide a new way for us to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> reward our executives (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">i.e., stock grants instead of stock options</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">authorize</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the grant of shares equivalent to up to 3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Cosan S.A.&#8217;s total</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> share</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> capital</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On April 27, 2017 and July 31, 2017, two new share-based payment plans were approved, with 274,000 and 298,107 shares, respectively. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or cash, at our discretion, for no-cash consideration, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2018, a new share-based payment plan allowing for a total award of up to 210,000 of our common shares was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or cash, at our discretion, for no-cash consideration, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On May 21, 2019, our board of directors approved the replacement of the existing stock option plans, including 5,029,000 options granted pursuant to it, with a new share-based compensation plan, whose participants may opt for voluntary membership. If all participants agree with this replacement, 2,396,110 of our common shares will be granted to replace the currently existing options and the fair value remeasured. As part of this modification, an incremental cost of R$52.9 million was calculated, of which R$29.3 million was immediately recognized in our income statement and R$23.6 million will be recognized over the vesting of each program.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2019, a new share-based payment plan allowing for a total award of up to 31,031 of our common shares was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at our discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2020, a new share-based payment plan allowing for a total award of up to 17,243 of our common shares was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or cash, at our discretion, for no-cash consideration, after five years.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, a new share-based payment plan allowing for a total award of up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">424,839</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of our common shares was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or cash, at our discretion, for no-cash consideration, after </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">three</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 10, 2021, a new share-based payment plan allowing for a total award of up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,283,275</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of our common shares was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or cash, at our discretion, for no-cash consideration, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On October 11, 2021, a new share-based payment plan allowing for a total award of up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">424,839</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of our common shares was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or cash, at our discretion, for no-cash consideration, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Rumo</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On October 1, 2015, a new share-based payment plan allowing for a total award of up to 1,485,900 shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 2, 2017, a new share-based payment plan allowing for a total award of up to 1,476,000 shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 1, 2017, a new share-based payment plan allowing for a total award of up to 870,900 shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 1, 2018, a new share-based payment plan allowing for a total award of up to 1,149,544 shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 15, 2019, a new share-based payment plan allowing for a total award of up to 843,152 shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On November 11, 2020, a new share-based payment plan allowing for a total award of up to 776,142 shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May 5,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 2021, a new share-based payment plan allowing for a total award of up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,481,000</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 15, 2021, a new share-based payment plan allowing for a total award of up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,560,393</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shares of Rumo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">three</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> years.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Comg&#225;s</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On April 20, 2017 and December 8, 2017, two new share-based compensation models were approved in the Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Meeting of the Comg&#225;s subsidiary, which became effective as of the grant.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On April 20, 2017 and August 12, 2017, Comg&#225;s granted 61,300 and 97,780 restricted shares, respectively, which will be fully transferred five years from the approval of the grant, conditioned on the exercise of the functions of the Company beneficiary, under the terms of each share-granting program.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 1, 2018, Comg&#225;s awarded 96,787 restricted shares to certain eligible executives, which will be fully transferred five years from the approval of the grant. The final transfer of the restricted shares to the executives is subject to the terms of the applicable share-grant program.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2019, Comg&#225;s awarded 83,683 restricted shares to certain eligible executives, which will be fully transferred five years from the approval of the grant. The final transfer of the restricted shares to the executives is subject to the terms of the applicable share-grant program.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On November 1, 2021, Comg&#225;s awarded 172,251 restricted shares to certain eligible executives, which will be fully transferred </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">three</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> years from the approval of the grant. The final transfer of the restricted shares to the executives is subject to the terms of the applicable share-grant program.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Compass</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On February 1, 2020, a new share-based payment plan allowing for a total award of up to 1,858,969 shares of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after five years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">August 1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2021, a new share-based payment plan allowing for a total award of up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">26,625</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shares of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> discretion, after </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">two</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 1, 2021, a new share-based payment plan allowing for a total award of up to 31,535 shares of Compass Comercializa&#231;&#227;o was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Compass Comercializa&#231;&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after two years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 1, 2021, a new share-based payment plan allowing for a total award of up to 152,770 shares of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after three years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 1, 2021, a new share-based payment plan allowing for a total award of up to 33,634 shares of Terminal de Regaseifica&#231;&#227;o de S&#227;o Paulo was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at Terminal de Regaseifica&#231;&#227;o de S&#227;o Paulo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after three years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On November 1, 2021, a new share-based payment plan allowing for a total award of up to 1,474,367 shares of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was approved. The eligible executives may be granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or no-cash consideration or cash, at </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s discretion, after three years.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2019, Moove awarded 132,670 share appreciation rights to certain eligible executives. The rights entitle the executives to a cash payment after five years of service. The amount payable will be determined based on the increase of the share price between the grant date and the vesting date. The rights must be exercised on the vesting date and will expire if not exercised on that date.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 31, 2020, Moove awarded 106,952 share appreciation rights to certain eligible executives. The rights entitle the executives to a cash payment after five years of service. The amount payable will be determined based on the increase of the share price between the grant date and the vesting date. The rights must be exercised on the vesting date and will expire if not exercised on that date.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">July 31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2021, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Moove awarded </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">80,729</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">share appreciation rights to certain eligible executives. The rights entitle the executives to a cash payment after five years of service. The amount payable will be determined based on the increase of the share price between the grant date and the vesting date. The rights must be exercised on the vesting date and will expire if not exercised on that date</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan Limited and Cosan Log&#237;stica</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Limited</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s and Cosan Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s equity-based compensation plan were discontinued and all outstanding awards were settled before the merger of Cosan Limited and Cosan Log&#237;stica with and into Cosan S.A.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bi7_M4NWRLBOFK00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 7. Major Shareholders and Related Party Transactions</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BAMS_PO9X904HPS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">A. Major Shareholders</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, our issued share capital </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8,402,543,550.97</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, fully issued and paid in comprising 1,874,070,932 common shares, nominative and without nominal value</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (including </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,453,347</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> treasury shares)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table sets forth, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, except where otherwise noted, certain information with respect to the number of common shares beneficially owned (as defined by the SEC</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rules and regulations) by (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">each of our executive officers, (2) each member of our board of directors, (3) all current executive officers and directors as a group and (4) each person known to us to own beneficially more than 5% of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> our outstanding common shares:</span></p>
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<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Shareholders</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 31px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 31px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total Number of</span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Common Shares</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 31px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #ffffff; margin-left: 0.1px; height: 31px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #ffffff; margin-left: 0.1px; height: 31px;">
<p style="border-bottom-width: 0.5pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Percentage</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Controlling Group</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 2%;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">672,312,942</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px; width: 2%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">35.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">87</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; width: 1%;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Board of directors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">21,716,116</span></p>
</td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.16%</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Executive officers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,524,829</span></p>
</td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.19%</span></p>
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<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Others</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,171,063,698</span></p>
</td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">62.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Treasury shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">53,347</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-width: 0.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">0.29%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
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<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">1,874,</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">070</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">932</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">100.0%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; background-color: #cceeff; height: 10px;"><br/></td>
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<p style="margin: 0pt 8.65pt 0pt 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ex-Treasury Shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">868</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">617,585</span></p>
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<td style="padding: 0px; vertical-align: top; text-align: right; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; text-align: right; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">99.71%</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 10px;"><br/></td>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The total number of AD</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s held by U.S. investors as of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">66,136,181</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The total number of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> held by U.S. investors as of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">198,529,097</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (excluding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> held by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">JPMorgan Chase Bank, N.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as depositary).</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Controlling Group: Aguassanta Investimentos S.A.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On April 30, 2019, a corporate reorganization was approved among companies from our controlling group (Aguassanta Participa&#231;&#245;es S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Aguassanta,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Queluz S.A. Administra&#231;&#227;o e Participa&#231;&#245;es, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Queluz,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Usina Costa Pinto S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Costa Pinto,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Usina Bom Jesus S.A. A&#231;&#250;car e &#193;lcool, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">UBJ</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), which wished to consolidate their control with Aguassanta, controlled by Mr. Rubens Ometto Silveira Mello. As a result, Costa Pinto, UBJ and Queluz merged into Aguassanta on April 30, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">This reorganization resulted in the transference by Queluz and UBJ to Aguassanta of 19,499,418 class A common shares issued by Cosan Limited and the transfer by Queluz and Costa Pinto to Aguassanta of all the class B common shares issued by Cosan Limited.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 29, 2019, Aguassanta approved the incorporation a new company named Aguassanta Investimentos S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Aguassanta Investimentos,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> into which Aguassanta contributed the total of class A common shares and class B common shares issued by Cosan Limited which it held. Aguassanta Investimentos is the current direct controlling shareholder of Cosan Limited, whereas Aguassanta is our indirect controlling shareholder.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Voting Rights of Principal Shareholders</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our principal shareholders do not have voting rights distinct from those of our other shareholders of the same class of shares. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 10. Additional Information&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B. Memorandum and Articles of Association</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan Log&#237;stica</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">At our extraordinary shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting held on October 1, 2014, our shareholders approved the spin-off of our logistics business and its merger into Cosan Log&#237;stica. This corporate restructuring was intended to segregate our logistics activities, by then focused on Rumo, and allowed each of our businesses to be focused on their specific sectors and also to establish capital structures appropriate for each segment. After the spin-off, Cosan Limited became not only our controlling shareholder but also of Cosan Log&#237;stica. As a result of the spin-off, all shares issued by Cosan Log&#237;stica previously held by us were canceled and consequently 405,856,814 new shares of Cosan Log&#237;stica were attributed to our shareholders, at a 1:1 ratio. Since October 6, 2014, our shares were traded without </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rights to Cosan Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shares, which in turn </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">were</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> traded</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> from October 6, 2014 until March 5, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> segment of the B3 under the ticker symbol </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">RLOG3.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In addition, the spin-off had no impact on the rights attached to our shares. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 22, 2021, the shareholders of Cosan Limited (the former parent company of Cosan and Cosan Log&#237;stica) and the shareholders of Cosan and Cosan Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> approved an intra-group restructuring, announced on July 3, 2020 by Cosan, Cosan Limited and Cosan Log&#237;stica, consisting of a merger of companies under common control, as provided by art. 264, paragraph 4, of Brazilian Law No. 6,404, pursuant to which Cosan Limited and Cosan Log&#237;stica were merged into Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Rumo</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On February 24, 2014, Cosan S.A., through its subsidiary </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Log&#237;stica Operadora Multimodal S.A., or &#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> submitted to ALL a binding proposal for the incorporation of ALL by Rumo. The merger was completed on April 1, 2015. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 4. Information on the Company&#8212;A. History and Development of the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for further information.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Radar</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In August 2008, as amended on November 4, 2016, we entered into a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement with TIAA-CREF regarding its subsidiary Radar, whose corporate purpose is to identify and acquire rural properties with high appreciation potential for subsequent leasing and/or sale.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> This agreement was terminated on November 3, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and on the same date we, Mansilla Participa&#231;&#245;es Ltda., and Radar II Propriedades Agr&#237;colas entered into a new shareholders&#8217; agreement. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">We currently hold approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">50</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of Radar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s capital, with the remaining </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">50</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% being divided among other investors part of TIAA-CREF group. According to the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement, we retain the majority of votes on Radar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Board of Directors </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as well as the power to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">direct the activities of Radar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Tellus</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 1, 2011, we entered into a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement with TIAA-CREF in order to govern certain of their rights, duties and obligations as shareholders of Tellus Brasil Participa&#231;&#245;es S.A.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Janus</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 19, 2014, we entered into a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement with TIAA-CREF in order to govern certain of their rights, duties and obligations as shareholders of Janus Brasil Participa&#231;&#245;es S.A.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Moove</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 3, 2012, we entered into the European lubricants and specialties market by signing a sale and purchase agreement with Esso Petroleum Company to acquire Comma Oil &amp; Chemicals Limited (currently known as Moove Lubricants). The value of the transaction, after all adjustments, was less than U.S.$100 million. Moove Lubricants continued to operate in the ordinary course under the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comma</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> brand, manufacturing and selling Comma-branded and private label products following the change in control, in order to facilitate our entry into the European lubricants market.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> and Comg&#225;s</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On November 5, 2012, we concluded the acquisition of 60.05% of Comg&#225;s from BG Group for R$3.4 billion.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In December, 2017, the put options held by three vehicles of the Shell Group against Cosan Limited were exercised. As a result, Cosan Limited delivered to Shell 17,187,937 common shares issued by us, representing 4.21% of its capital, and received 21,805,645 common shares of Comg&#225;s. These were transferred to us, under the same price and payment term conditions of the transaction with Shell. At the conclusion of this transaction, the Cosan Limited reduced its interest in our share capital to 57.98% and we increased our interest in Comg&#225;s to 79.87%, with Shell no longer being a shareholder of Comg&#225;s.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">At the end of this transaction, we and Integral Investments B.V. terminated the Comg&#225;s shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement dated December 19, 2012.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On March 8, 2019, we announced the conclusion of the tender offer for the acquisition of class A preferred shares issued by Comg&#225;s. A total of 19,496,165 preferred shares were acquired by us in the tender offer at a price of R$82.00 per share, representing approximately 14.77% of Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s capital stock. As a result, our interest in Comg&#225;s increased from 80.12% prior to this tender offer to 94.88% following the conclusion of the tender offer, while our interest in Comg&#225;s increased from 79.88% prior to this tender offer to 94.65% following the conclusion of the tender offer.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On June 30, 2019, we concluded the tender offer for the acquisition of class A preferred shares issued by Comg&#225;s. A total of 22,597,886 preferred shares were acquired by us in the tender offer at a price of R$82.00 per share, representing approximately 17.11% of Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s capital stock. As a result, our interest in Comg&#225;s increased from 94.88% prior to this tender offer to 97.23% following the conclusion of the tender offer.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 30, 2019, we concluded the tender offer for acquisition of common shares issued by Comg&#225;s. A total of 2,527,682 common shares of Comg&#225;s were acquired by us in the tender offer at a price of R$83.16 per preferred share, representing approximately 1.92% of Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s capital stock. As a result, our interest in Comg&#225;s increased from 97.23% prior to the tender offer to 99.15% following the conclusion of the tender offer.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 14, 2020, we contributed to the share capital of our wholly owned subsidiary </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, formerly known as Distribuidora de G&#225;s Participa&#231;&#245;es S.A., the totality of the shares we held in Comg&#225;s (i.e., 103,699,333 common shares and 27,682,044 preferred shares), equivalent to 99.15% of the total share capital of Comg&#225;s, for an amount of R$2,862 million. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As the parties to the transaction are under common control transaction, there was no effect on our consolidated financial statements. We derecognized the investment in Comg&#225;s and we recognized an investment in Compass for the same amount</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Agreements and Other Arrangements</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Agreements </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">between </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Shell and </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Us</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Shell and us have entered into other definitive agreements, among others, concerning the scope of the Joint Venture, the governance and management of the Joint Venture and the granting of reciprocal put and call options concerning their interests in the Joint Venture. Each of these agreements was entered into on June 1, 2011.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders&#8217; agreement for Ra&#237;zen, or the &#8220;Ra&#237;zen Shareholders&#8217; Agreement,&#8221; establishes the scope and governance of the Joint Venture. The agreement provides that the scope of the Joint Venture is the global production of sugar cane-based ethanol and sugar and the distribution; the commercialization and sale of fuel products and lubricants; the operation and franchising and/or licensing of convenience stores busines</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">se</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s within Brazil; the supply and commercialization of fuel products; the operation of retail stations and operation and franchising and/or licensing of convenience stores; the operation of the refinery in Buenos Aires; and the supply, blending, commercialization, and sale of lubricants within Argentina. We, Shell and our respective affiliates are prohibited from competing with the Joint Venture as long as they remain shareholders of the Joint Venture (subject to customary exceptions)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> provide</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s that we and Shell are required to hold a prior meeting whenever a general meeting or a board of directors meeting is convened and to vote at the general meetings, or instruct our appointed representatives to the board of directors to vote at the meetings of the board of directors, in a manner consistent with the resolutions adopted at the prior meeting.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">provides</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">c</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ertain significant matters, however, will </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">be subject to the approval of shareholders, at a prior meeting, representing at least 75% of our capital stock, namely: (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">appointment or removal of members of the board of directors or the audit committee or establishment of the audit committee; (ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of management accounts and financial statements; (iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">resolutions related to the allocation of profits during the year and the distribution of dividends or interest on equity, in accordance with the proposal submitted by the board of directors; (iv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any determination regarding the global compensation of the members of our board of directors, executive board and fiscal council; (v)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">creation of any share grant plan in relation to our shares; (vi)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any amendment to or termination of the management compensation plan or any decision not to pay any amount payable to any participant in said plan; (vii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any amendment to our by</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">-</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">laws or the respective document of any of our subsidiaries; (viii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any change to our business purpose or the business purpose of any of our subsidiaries; (ix) any increase or decrease in our capital stock; (x)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">redemption, amortization, repurchase, alteration or any other form of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">reorganization or restructuring of our shares or creation of additional classes of our shares; (xi)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any split or reverse split of our shares or payment of share dividends; (xii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any consolidation, spin-off or merger involving us, merger of our shares or change in our corporate type or similar transaction in any of our subsidiaries; (xiii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">winding up, dissolution, bankruptcy, voluntary termination of business activities or reorganization of us or any subsidiary; (xiv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">appointment or dismissal of a liquidator or member of the audit committee during any period of our liquidation or of any of our subsidiaries; (xv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">resolution of any matters to which shareholder representatives have referred at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting or prior meeting; and (xvi)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">provided that it is put to vote at any shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting or prior meeting, approval of any act or transaction described in the Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Unless another shareholder elects a member of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s board of directors who is not considered an independent member, we and Shell shall appoint, each, three members of our board of directors, and one of the members appointed by us must be Rubens Mello, as executive chairman of the board of directors. In addition, we and Shell shall </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">each </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">appoint one member considered independent, in accordance with the applicable regulations. Finally, the Ra&#237;zen Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement mentions certain situations in which the voting rights of shareholders would be impaired as a result of a conflict of interest.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In November 2016, we executed amendments to certain agreements with Shell to remove the fixed-date call options over Ra&#237;zen S.A. shares exercisable in 2021 and 2026 and replace them with certain call and put options exercisable by us or Shell in certain circumstances, including, among others, (1) fundamental breaches of the obligations provided for in the agreements governing the Joint Venture, (2) breach of anticorruption laws, (3) insolvency or bankruptcy of a party, (4) change of control and (5) in the event of the death or disability of our current Chairman, Mr. Rubens Ometto Silveira Mello or if he fails to attend meetings of the board of directors of Ra&#237;zen for 12 consecutive months. Moreover, we granted Shell a call option that is applicable if we fail to comply with certain obligations agreed upon with Shell or if certain of Ra&#237;zen&#8217;s or our financial indices are not met. </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We also granted Shell a call option that can be exercised by Shell if a controlling company (referred to as a &#8220;Controlling Entity&#8221;) fails to (1) have a CEO for a period exceeding six months, (2) publish or prepare, as required by law, its financial statements under the terms and conditions agreed in the Joint Venture Agreement, or (3) if Cosan or a new shareholder of Cosan (referred to as a &#8220;New Cosan Shareholder&#8221;), as applicable, with respect to a joint venture entity (referred to as a &#8220;JV Entity&#8221;), </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">fails to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(i) appoint members to the executive board or (ii) propose names of candidates for the position of CEO of Ra&#237;zen within the period provided for in the Shareholders&#8217; Agreements. Lastly, there is a call option granted by us to Shell in the event of an involuntary delisting or involuntary suspension of the registration, as a publicly held company, of Cosan or any successor thereof.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We and Shell further agreed to renew the existing lock-up period for five years from the date of the execution of the amendment, following which the parties may sell their shares in Ra&#237;zen S.A. subject to compliance with certain preemption rights in each other&#8217;s favor.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In May 2021 and July 2021, we executed amendments to certain agreements in anticipation of Ra&#237;zen&#8217;s initial public offering, which was completed in August 2021. As part of these amendments, the lock-up periods provided for in the applicable agreements were renewed for an additional five years from July 2021. The call and put options described above remained the same.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Comg&#225;s Companhia de G&#225;s de S&#227;o Paulo </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8211;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We and Integral Investments B.V., or Integral, were parties to a Comg&#225;s shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement dated December 19, 2012. The shareholders agreement established the terms and conditions that regulated the relationship between the parties as shareholders of Comg&#225;s. On December 12, 2017, Shell exercised a put option relating to its shares in Comg&#225;s and, as a consequence, we bought a total of 21,805,645 shares in Comg&#225;s, which represents 16.77% of Comg&#225;s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s share capital for R$1,042 million. As a result, Integral Investments B.V. ceased to be a shareholder of Comg&#225;s and the Comg&#225;s shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement was terminated.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Radar Propriedades Agr&#237;colas S.A. &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mansilla Participa&#231;&#245;es Ltda., Teachers Insurance and Annuity Association of America, we and Radar II Propriedades Agr&#237;colas entered into this shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement on August 27, 2008, amended on November 4, 2016. This shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement consolidates Radar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders resolutions about share control, transfer of shares, preemption rights, tag along and the right to appoint the members of the board of directors. Subject to certain </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">exceptions, the corporate resolutions shall be taken by shareholders representing the majority of the voting shares.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> This agreement was terminated on November 3, 2021.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mansilla Participa&#231;&#245;es Ltda., and Radar II Propriedades Agr&#237;colas entered into a new shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement on November 3, 2021. This shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement consolidates Radar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders resolutions about shareholders meetings, conditions of future property investments by Radar, transfer of shares, preemption rights, tag along, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">right of first offe</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">r</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(on the sale of certain investments), buy/sell right, the right to appoint the members of the board of directors and conditions of approval of some matters by the board of directors. Subject to certain exceptions, the corporate resolutions shall be taken by shareholders representing the majority of the voting shares.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Radar II Propriedades Agr&#237;colas S.A. </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8211;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Shareholders Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement of Radar II Propriedades Agr&#237;colas S.A. was executed by and among Mansilla Participa&#231;&#245;es Ltda., Teachers Insurance and Annuity Association of America, a New York Corporation and us on </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">September 28, 2012, amended on November 4, 2016. This Shareholders Agreement covered Radar II&#8217;s shareholders resolutions about</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> share control, transfer of shares, preemption rights, tag along and the right to appoint the members of the Board of Directors. Except </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for certain</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> relevant decisions, the corporate resolutions </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">were to be adopted by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shareholders representing the majority of the voting shares.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> This agreement was terminated on November 3, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mansilla Participa&#231;&#245;es Ltda. entered into a new shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement on November 3, 2021. This shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">covers Radar II&#8217;s shareholders resolutions about</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shareholders meetings, conditions of future property investments, Radar II</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s voting rights in Radar I and of the group companies, transfer of shares, preemption rights, tag along, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">right of first offer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (on the sale of certain investments), buy/sell right, the right to appoint the members of the board of directors and conditions of approval of some matters by the board of directors. Subject to certain exceptions, the corporate resolutions shall be</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> adopted</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> by shareholders representing the majority of the voting shares.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Rumo S.A. </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8211;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Log&#237;stica S.A. and Mrs. Julia Dora Antonia Koranyi Arduini entered into the Arduini Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement on November 28, 2016. On December 31, 2016, Rumo Log&#237;stica was merged into its wholly owned subsidiary Rumo S.A., and on January 22, 2021, Cosan Log&#237;stica was merged into Cosan S.A. As a result, the current parties to the Arduini Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement are Rumo S.A. (as the successor entity to Rumo Log&#237;stica), Cosan S.A. (as the successor entity to Cosan Log&#237;stica), and Mrs. Julia Arduini.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Arduini Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement defines the terms and conditions that govern the relationship between the parties to the agreement, in particular with respect to: (1) the election of members of our board of directors; (2) the restrictions on the sale and transfer of our shares; and (3) voting arrangements for our shareholders, general meeting and board of directors meeting. The Arduini Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement will remain in force for 10 years from November 28, 2016 and may be terminated early if Mr. Rubens Mello leaves the position of chairman of our board of directors or if Julia Arduini</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s interest in the company </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">decrease</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s by 50% after the three-year lock-up period on the transfer of shares to which the parties are subject. In addition, the Arduini Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement states that our shareholders and board of directors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings will be preceded by preliminary meetings between the parties to the Arduini Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement, which shall determine the voting instructions for their representatives at those meetings, who shall vote together as a block.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Tellus Brasil Participa&#231;&#245;es S.A. &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Shareholders Agreement of Tellus Brasil Participa&#231;&#245;es S.A., executed by and among TIAA-CREF Global Agriculture LLC, Nova Gaia Brasil Participa&#231;&#245;es Ltda., Terraviva Brasil Participa&#231;&#245;es S.A., Radar Propriedades Agr&#237;colas S.A., and Cosan S.A. on July 1, 2011, amended on December 20, 2013. This Shareholders Agreement consolidates Tellus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shareholder resolutions about corporate capital and share control, redemption right, put option, transfer of shares, preemption rights, tag along, Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">right of first offer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (on the sale of investment), noncompetition provisions and right to appoint the members of the Board of Directors. Except by the relevant decisions, the corporate resolutions shall be taken by shareholders representing the majority of the voting shares.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Janus Brasil Participa&#231;&#245;es S.A. &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Shareholders Agreement of Janus Brasil Participa&#231;&#245;es S.A., executed by and among TIAA-CREF Global Agriculture II LLC, Helios Brasil Participa&#231;&#245;es Ltda., Iris Brasil Participa&#231;&#245;es S.A., Radar Propriedades Agr&#237;colas S.A. and us on September 23, 2014. This Shareholders Agreement consolidates Janus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shareholder resolutions about corporate capital and share control, redemption right, put option, transfer of shares, preemption rights, tag along, Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">right of first offer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (on the sale of investment), non-competition provisions and the right to appoint the members of the Board of Directors. Except by the relevant decisions, the corporate resolutions shall be taken by shareholders representing the majority of the voting shares.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan Biomassa S.A. &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement of Cosan Biomassa S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Biomassa,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was entered into by and among us and Sumitomo Corporation on May 13, 2016, and amended on December 1, 2017, (the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan Biomassa Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) This shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement provides Cosan Biomassa with shareholder control and contains transfer of shares, preemption rights, tag along and drag along rights and the right to appoint the members of the board of directors. The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement also lists certain reserved matters with regard to which the parties shall have the right of veto so as long as each signatory</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s equity interest in Cosan Biomassa is equal to or greater than 15% of our total and voting share capital. On October 1, 2019, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">we</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> sold our interest in Cosan </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Biomassa to Ra&#237;zen Energia </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and, as a consequence, Ra&#237;zen Energia assumed our position in Cosan Biomassa Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement with an effective date as of December 2, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Brado Log&#237;stica e Participa&#231;&#245;es S.A. &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement of Brado Log&#237;stica e Participa&#231;&#245;es S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brado,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was entered into by and among Fundo de Investimento do Fundo de Garantia do Tempo de Servi&#231;o- FI-FGTS, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">FI-FGTS,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Log&#237;stica Brasil-Fundo de Investimento em Participa&#231;&#245;es, Deminvest Empreendimentos e Participa&#231;&#245;es S.A., Markinvest Gest&#227;o de Participa&#231;&#245;es Ltda., or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Original Shareholders,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Brado Holdings S.A., with the intervention of Brado Log&#237;stica Participa&#231;&#245;es S.A., Brado Log&#237;stica S.A. and ALL-Am&#233;rica Latina Log&#237;stica S.A. (current Rumo S.A.) on August 5, 2013. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">This shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement resolutions about share control, transfer of shares, preemption rights, tag along and the right to appoint the members of the board of directors. The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement also provides that certain reserved matters are subject to a right of veto on the part of the signatories.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> We are no</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">party </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> this Agreement. This Agreement is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">object of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ongoing confidential </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">arbitration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> procedure.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Investimentos e Participa&#231;&#245;es S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> &#8211; Shareholders Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CIP</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was executed by and among Cosan S.A., Banco Bradesco BBI S.A. (as successor to Fundo de Investimento em Participa&#231;&#245;es Multisetorial Plus II), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Bradesco,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Ita&#250; Unibanco S.A. (as successor to Razac Fundo de Investimento em Participa&#231;&#245;es), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ita&#250;,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on June 27, 2014. This shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement CIP</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders resolutions about </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">share control</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, transfer of shares or encumbrance and the right to appoint the members of the board of directors and the officers (with all officers to be nominated by us). With the exception of the relevant decisions, the corporate resolutions shall be taken by shareholders representing the majority of the voting shares (unless a higher quorum or special approval is required).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The parties to the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement have granted each other the fo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">llowing put and call options: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">call option granted to us by Bradesco on al</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">l Class </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Preferred Shares; (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) call option granted to us by Ita&#250; on all </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Class </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Preferred Shares; (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) put option granted to Bradesco by us on all Cla</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ss </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Preferred Shares; and (4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">put option granted to Ita&#250; by us on all Class </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Preferred Shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 13, 2021, we exercised our call option regarding the Class </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Class </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Preferred Shares owned by Bradesco and Ita&#250;, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">effectively terminating</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> this </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">agreement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. On December 1, 2021, we entered into a Merger and Justification Protocol governed by Brazilian law with CIP pursuant to which CIP merged with and into us.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Cosan Lubes Investments &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On March 29, 2019, we entered into a shareholders&#8217; agreement in relation to CLI with Galt Lubes Investments Limited, an investment vehicle managed by CVC, or &#8220;Galt,&#8221; following Galt&#8217;s subscription for new common shares representing 30% of the share capital of CLI. This shareholders&#8217; agreement contains the reserved matters to be voted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">on at the shareholder&#8217;s meeting and board of directors, lock-up provisions which restrict our ability to transfer of control of CLI for a period of five years from March 29, 2019, includes a right of first refusal for both of us and Galt and tag-along rights in the case of transfer of shares to any third party, preemption rights in the case of an issuance of new shares or other securities and provisions relating to the transfer of shares, stock option plan, non-compete and non-solicitation, among others</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Payly Solu&#231;&#245;es de Pagamentos S.A. &#8211; Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On August 1, 2018, we incorporated Payly Solu&#231;&#245;es de Pagamentos S.A., a new business created to act as a payment arranger through the provision of an e-wallet.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 2, 2019, we executed a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement with Manzat Inversiones AUU S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Manzat,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> which acquired a 25% interest in Payly on that date, (the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Payly Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">). The Payly Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement defines the terms and conditions that govern the relationship between the parties to the agreement, in particular with respect to (1) qualified matters to be voted in Payly</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s general meetings and board of directors meetings; (2) the appointment by Manzat of two members of the board of directors and the matters subject to the deliberation of the board; (3) restrictions on the transfer of Payly</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shares by us and Manzat for a three-year period, except for the permitted transfers provided in the Payly Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement; (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a right of first refusal and a tag-along right for both shareholders after the end of the lock-up restriction, among other provisions. The Payly Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement will remain in force for 35 years from the signing date.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Sinlog Tecnologia em Log&#237;stica S.A. &#8211; Shareholders Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On June 13, 2019, we executed an investment agreement by which we committed to invest R$20 million in Trizy a company that holds a logistic management system developed to connect clients and transportation services. As a result, on August 29, 2019, we (Cosan Limited at the time, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">company that we are successors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) entered into a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Trizy Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> with the shareholders of Trizy, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">including </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Highway Participa&#231;&#245;es Ltda, J&#244;natas Silva da Costa, Murilo Jos&#233; Sales Lopes, Edson Aparecido Martins Filho, Gustavo Adriano Rodrigues, Rogers Pereira</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Leonardo Suarez in order to define the terms and conditions that govern the relationship between the parties as shareholders of Sinlog, in particular with respect to (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">qualified matters to be voted in Trizy</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s general meetings and board of directors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings; (2) the appointment by us of three members for the board of directors, with the other two being appointed by the other shareholders, and the matters subject to the deliberation of the board of directors; (3) restriction to the transfer of Trizy</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shares by the shareholders for a five-year period, except for the permitted transfers provided in the shareholders agreement; (4)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">right of first offer</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for us and a preemptive right for the other shareholders of Trizy, (5) and tag-along rights for both shareholders after the end of the lock-up restriction, among other provisions. The Trizy Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement will remain in force for 15 years from the signing date.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Compass &#8211; Shareholders Agreement</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On December 11, 2019, Comercializadora de G&#225;s S.A., a company wholly owned by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, a subsidiary of Cosan S.A., entered into a quota purchase agreement with Marcelo Faria Parodi and Ritchie Guder for the acquisition of 100% of the quotas of Compass Comercializadora de Energia Ltda., Compass Energia Ltda. and Black River Participa&#231;&#245;es Ltda. These entities are involved in the sale of electric power and consulting for clients in such segment.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 30, 2020, on the closing date of the acquisition mentioned above, as part of the transaction, Cosan S.A. approved a capital increase in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which was fully subscribed by Marcelo Parodi and Ritchie. In this context, Marcelo Parodi and Ritchie became shareholders of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> with an interest of less than 1%.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As shareholders of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, Marcelo Parodi and Ritchie are subject to a lock-up provision of three years and are entitled to a put option right exercisable during a month after the publishing of the financial statements of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. for the fiscal year of 2022. We are also entitled to a call option exercisable during the same period. Marcelo Parodi and Ritchie are entitled to a tag-along right if we decide to sell our shares in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and hawse have a preemptive right to acquire </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Marcelo Parodi</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Ritchie</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shares.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> On July 16, 2021, we bought the shares of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">owned by Marcelo Parodi and Ritchie</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">thus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the conditions above mentioned were terminated.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On May 31, 2021, we, Atmos Il&#237;quidos Fundo de Investimento em A&#231;&#245;es, Atmos Master Fundo de Investimento em A&#231;&#245;es, and Ricardo Ernesto Correa da Silva executed the shareholders agreement of Compass. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shareholders&#8217; agreement consolidates Compass&#8217;s shareholders&#8217; resolutions about corporate capital and share control, preferred shares rights, preferred shareholders prior meetings, transfer of shares, restriction to the transfer of Compass&#8217;s shares by the preferred shareholders for a three-year period (except for the permitted transfers provided in the shareholders agreement), tag along, preemption rights, and initial public offering conditions, if applicable. This agreement will remain in force (i) for 10 years from the signing date or (ii) until financial settlement of any initial public offering of the company, if applicable.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On September 3, 2021, we, Bradesco Vida e Previd&#234;ncia S.A., Nucleo Capital Ltda., BC Gest&#227;o de Recursos Ltda., and Prisma Capital Ltda. executed the shareholders agreement of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> S.A.. This shareholders&#8217; agreement consolidates </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s shareholders resolutions about corporate capital and share control, preferred shares rights, preferred shareholders prior meetings, transfer of shares, restriction to the transfer of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Compass</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;s shares by the preferred shareholders for a three-year period (except for the permitted transfers provided in the shareholders agreement), tag along, preemption rights, and</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> initial public offering </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">conditions, if applicable. This agreement will remain in force (i) for 10 years from the signing date or (ii) until financial settlement of any</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> initial public offering of the company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, if applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BRPT_6QMJGFWWC000000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">B. Related Party Transactions</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We engage in related party transactions with certain of our affiliates, some of which are of a recurring nature. Financial information with respect to certain material related party transactions is set forth in note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements attached</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> hereto.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our board of directors delegates to the audit committee the responsibility for reviewing and approving all related party transactions (within the meaning of Item 404 of Regulation S-K of the SEC). The audit committee is responsible for obtaining information from our directors, executive officers and major shareholders with respect to related party transactions and for then determining, based on the facts and circumstances, whether our company or a related party has a direct or indirect material interest in the transaction. As required under SEC rules, transactions that are determined to be directly or indirectly material to our company or a related party has been disclosed herein.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the normal course of business, we have operational and financing transactions with related parties. The significant related party balances and transactions are described in note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements attached</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> hereto.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BIOE_MLNB6D5EPC00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">C. Interests of Experts and Counsel</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI8_BDVKAX028000000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 8. Financial Information</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BAcs_X5OL9FH2Z400000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">A. Consolidated Statements and Other Financial Information</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 18. Financial Statements.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Legal Proceedings</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are party to numerous legal proceedings, the most relevant of which are further described below.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Probable Losses</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the ordinary course of our business, we are party to a number of legal proceedings for which we deem the risk of loss as probable and for which we have recorded provisions in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> an aggregate amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,644.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2021 and R$1,360.9 million as of December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Provisions relating to probable losses are categorized into tax, civil, environmental, regulatory, and labor, as described below.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Tax</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. We recorded provisions of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">647.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> millio</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n and R$635.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million for tax proceedings involving probable risk</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of loss as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and December 31, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, respectively. The principal tax proceedings for which the risk of loss is probable are described below:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">FINSOCIAL &#8211; set-off applications</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian federal tax authorities denied applications filed by CLE to set off credits derived from undue payments of FINSOCIAL, a social tax levy, against other federal tax debts.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Based on a favorable judicial decision, Mobil acquired the right to set off credits of FINSOCIAL against certain COFINS liabilities. However, a subsequent favorable judicial decision granted CLE immunity against the enforcement of such COFINS-related debts. Therefore, previous set-off applications were canceled, because COFINS liabilities ceased to exist, and CLE sought to use the relevant tax credits to set off other federal tax debts. However, the Brazilian federal tax authorities refused to ratify the set-offs, claiming that the COFINS immunity applied only to the fiscal year during which the lawsuit was filed (i.e., in 1992). No judicial deposits were made for these proceedings. The provision f</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or these proceedings was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">300.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of December 31, 2021 and R$296.4 million as of December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The risk of loss is classified as probable.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Social security contributions &#8211;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In June 2010, Ra&#237;zen filed an ordinary action challenging the obligation to accrue social security contributions tax based on gross revenue. The first instance court gave a partially favorable judgment. Currently, the case records are in the Court of Appeals awaiting judgment of the appeal filed by the Brazilian federal government against a part</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ially favorable first-level decision. The risk of loss is classified as probable and as of December 3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> had recorded provisions in connection with this proceeding in the aggregate amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">561.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, and the same amount had been judicially deposited in a judicial escrow account. The alleged underl</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ying facts occurred both before and after the formation of the Ra&#237;zen joint venture on April 1, 2011 and, therefore, a portion of these amounts is subject to reimbursement by Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s shareholders in the event of an adverse decision.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ICMS </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&#8211;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> We have provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">use and consumption</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s sugarcane plants and Central</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista Ltda. A&#231;&#250;car e &#193;lcool</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. No judicial deposits have been made in connection with these proceedings. These provisions amounted to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">86.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of December 31, 2021 and R$93.7 million as of December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Civil, regulatory, environmental and other claims</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. We, our subsidiaries and jointly-controlled entities are parties to a several number of civil legal claims related to (1) indemnity for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">material and moral damages; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">termination or litigation of in relation to different kinds of agreements (3) public civil claims related to sugarcane stubble burning; (4) environmental matters; and (5) compliance with certain conduct adjustment agreement and other matters. Provisions for civil, regulatory and environmental claims as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> amounte</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">585.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and R$350.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. As of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">169.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in judicial deposits were made for civil and environmental cla</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ims, and this figure was R$140.8 million as of December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Cosan S.A., its subsidiaries and jointly-controlled entities are also parties to a number of regulatory legal proceedings related to (1) collection of fines by the ANTT; (2) discussions on the tariff ceiling imposed by the ANTT; and (3) certain other matters.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Labor claims</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. We, our subsidiaries and jointly-controlled entities are also parties to a number of labor claims filed by former employees and service providers challenging, among other matters, the payment of overtime, night shift premiums and risk premiums, the recognition of employment relationships and the reimbursement of discounts from payroll, such as social contribution and trade union charges. Additionally, we are involved in several labor administrative and judicial proceedings such as labor investigations and class actions filed by the labor prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s office regarding alleged noncompliance with certain labor regulations, including work and safety rules, labor conditions and work environment, and social assistance plans. Moreover, we entered into certain consent orders (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Termos de Ajustamento de Conduta</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) with Brazilian authorities and in the event we fail to comply with such consent orders, we could be subject to fines. Provisions for labo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">r claims as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, amounte</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">411.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and R$374.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, respectively, while judicial deposits for labor claims amounte</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">252.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and R$272.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of Decem</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ber 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, respectively.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Possible Losses</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, there are currently certain legal proceedings pending in which we are involved for which we have not recorded provisions, as we deem the likelihood of loss as possible. If adverse decisions are rendered against us in any of these legal proceedings, our results of operations or financial condition could be materially and adversely affected. The aggregate amount involved in proceedings for which our risk of loss has been deemed possible as of D</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ecember 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> totaled R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">22,447.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, of which R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">14,647.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6,939.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">859.8 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million were related to tax, civil, environmental and regulatory and labor claims, respectively. The principal proceedings for which we deem the risk of loss as possible are described below:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Withholding income tax &#8211; capital gain ExxonMobil.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The Brazilian federal tax authorities issued a tax assessment against CLE, as the responsible party for the collection of withholding income tax allegedly due on the capital gains recognized by ExxonMobil International Holdings B.V. and ExxonMobil Brasil Holdings B.V., companies incorporated outside of Brazil, in connection with the sale of cooperatives headquartered in the Netherlands. Brazilian tax authorities disregarded the transaction based on the understanding that CLE intended to acquire a Brazilian asset held by the Dutch cooperatives, namely Esso Brasileira de Petr&#243;leo Ltda. Administrative proceedings have been concluded, but CLE has brought judicial proceedings. The portion of the assessment related to the application of the 150% penalty remains in the administrative courts and judgment of a special appeal is pending. On December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the aggregate amount under discussion was R$1,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">438</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million and the risk of loss is classified a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s possible. </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Goodwill on the acquisition of Esso.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The Brazilian federal tax authorities issued four tax assessments against CLE for the collection of IRPJ and CSLL relating to the calendar years 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016 due to the write-off of goodwill expenses accrued in connection with the acquisition of Dutch cooperatives that controlled Esso Brasileira de Petr&#243;leo Ltda. CLE is challenging all the assessments in administrative p</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">roceedings. In December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the amounts under discussion were R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">468.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (for assessments relating to the years 2009, 2010 and 2011), R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">158.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (for assessments relating to 2012), R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">169.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (for assessments relating to 2013), R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">47.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (for assessments relating to the years 2014 and 2015) and R$4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (for assessments relating to 2016). The risk of loss is classified as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">ICMS</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are parties to various proceedings relating to ICMS, including proceedings relating to: (1) tax assessment notices received in relation to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">unpaid ICMS and noncompliance with ancillary obligations, in connection with the agricultural and industrial tolling services partnership; (2) ICMS levied on the remittances for export of crystallized sugar, which the Company understands to be exempt. However, tax authorities classify crystallized sugar as a semi-finished product subject to ICMS; (3) ICMS withholding rate differences on the sale or purchase of goods, which after the transaction, had their tax registrations canceled; (4) disallowance of ICMS tax credits on the sale of diesel fuel to customers engaged in the agro-industrial business; (5) ICMS payments on inventory differences arising from mistaken assessments by the State Tax Administration of S&#227;o Paulo, Bahia, Mato Grosso and Para&#237;ba; (6) ICMS related to the so-called </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tax war</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> between various Brazilian states to attract economic activities by granting tax benefits; (7) CLE being a party to a legal proceeding to challenge the state fund of fiscal equilibrium (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Fundo Estadual de Equil&#237;brio Fiscal</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">FEEF,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> further replaced by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">FOT,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (deposit of 10% of ICMS tax exempted by the use of tax benefits) imposed by certain Brazilian states on the industrialization and commercialization of lube oils (as of December 31, 2021, judicial deposits of FEET and FOT have been made for the corresponding amount of R$33.7 million and R$23.6 million); (8) ICMS exemption in relation to the transportation of goods for export. There is a favorable position for taxpayers in the higher courts; (9) ICMS allegedly due in the state of Mato Grosso in connection with the imposition of tax and fines of 50% of the value of operations, based on the understanding that export operations should be supported by electronic transportation documents; and (10) inventory differences. As of December 31, 2021, the total amount involved in these proceedings was R$1,881</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million. The risk of loss in these proceedings is classified as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental civil class action</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Cosan is being sued by the Municipality of Ulian&#243;polis, by means of the civil class action No. 0000749-68.2011.8.14.0130, for environmental damages related to alleged irregular waste disposal in a landfill located in the Municipality of Ulian&#243;polis, in the state of Par&#225;. Eight other companies are involved in the same lawsuit, and the plaintiff intends to declare all of them as jointly liable for restoring the environmental damage involved therein. The plaintiff seeks R$179.8 million but the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">specific amount needed to restore the damage can only be estimated at a subsequent stage of the proceedings. It is also important to highlight that more than 50 companies are involved in the same matter by means of other lawsuits and a civil investigation is currently being held by the state of Par&#225;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office. Therefore, it is expected by some of these companies that any settlement or condemnation in this matter should comprise all of them. The lawsuit is currently suspended due to a plea from the Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office. According to the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s information, the amount under discussion in these proceedings is R$179.8 million, classified as a possible risk of loss.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental civil class action (008531-48.2019.8.14.0130)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CLE is being sued by the Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the state of Par&#225; for environmental damages related to the alleged irregular disposal of waste in a landfill located in the city of Ulian&#243;polis, in the state of Par&#225;. The Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office is seeking damages in an amount of R$288.9 million, as well as the imposition on CLE of an obligation to remediate the damage caused. At the request of the Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office, the judicial authorities of the state of Par&#225; ordered that the state of Par&#225; provide copies of all existing tax invoices between the Company and the landfill owner (CBB &#8211; USPAM). CLE has </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">submitted an </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">appeal to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Appellate Court</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the State of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Par&#225;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and the case is currently awaiting judgment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> proceeding is in the trial court with the CLE</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s defense</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> noted</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the record</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> awaiting final judgement. The risk of loss is possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental civil class action (0000952-81.2013.8.19.0207).</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CLE and ExxonMobil Qu&#237;mica are being sued by the Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the state of Rio de Janeiro in connection with soil contamination at CLE</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s operational complex, located in Rio de Janeiro</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Ilha do Governador neighborhood. The Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office of the state of Rio de Janeiro is seeking damages from both companies in an amount of</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">R$55.6 million, as well as the imposition on the companies of an obligation to remediate the damage caused, based on the joint liability provided for un Brazilian environmental law. The parties are awaiting the appointment of a legal expert in order to proceed with the production and presentation of evidence. As of December 31, 2021, the amount involved was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">62.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss was classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental civil class action (0003982-28.2002.8.16.0035)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CLE, along with many other companies, is being sued by the municipality of S&#227;o Jos&#233; dos Pinhais, state of Paran&#225;, in connection with soil contamination that occurred at the facilities of Recobem Ind. e Com. de Vern. Ltda, a company which is now bankrupt and was the owner of the property where the disposals which allegedly resulted in soil contamination were made. The municipality of S&#227;o Jos&#233; dos Pinhais is seeking damages in a total amount of R$3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.9 million, as well as the imposition on the companies of an obligation to remediate the damage caused. The lawsuit is currently pending the presentation of evidence. However, it has been suspended since March 2019. As of December 31, 2021, the amount involved was R$30.9 million. The risk of loss was classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Administrative fine (E-07/002.4235/2015)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CLE is being fined R$35 million by the State Environment Agency (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Instituto Estadual do Ambiente</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) of Rio de Janeiro, for allegedly releasing liquid waste into the Guanabara Bay, in violation of the requirements established by laws and environmental regulations. An anticipated production of evidence action (No. 0302911-45.2016.8.19.0001) was filed. The expert evidence was favorable to CLE, as it demonstrates that CLE did not engage in any irregularities. The expert evidence has already been ratified by the court and submitted to the administrative prosecution. We are currently awaiting the analysis of the abovementioned evidence and the administrative judgment of the State Environment Agency of Rio de Janeiro. As of December 31, 2021, the amount involved was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">63</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss was classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Environmental civil class action (0003982-28.2002.8.16.0035).</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen Energia </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was named as defendant in an environmental class action filed by the Federal Prosecutor Office&#8217;s due to the burning </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugar cane straw in the municipality of Piracicaba, in the State of S&#227;o Paulo. The prosecutor&#8217;s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">office </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">request</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">among other things, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">recovery and compensation of alleged damages caused to the environment and public health, as well as the payment for substantial and moral damages. The proceeding is in the trial court and Ra&#237;zen&#8217;s defense has been filed on record awaiting final judgement. As of December 31, 2021, the amount involved was R</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">25</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. The risk of loss was classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Paulista &#8211; MS Teixeira Prumo Engenharia. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">One of Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s subsidiaries, Rumo Malha Paulista is currently a party to a public civil action before the labor courts. This proceeding originated in an inspection of the company MS Teixeira, which was hired by Prumo Engenharia, Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s subcontractor. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The inspecting authority alleged that workers for MS Teixeira were working in conditions that were degrading and analogous to indentured servitude. Prumo Engenharia fully assumed the responsibility for the condition of the employees, including labor and contractual liabilities and all losses resulting from the alleged unlawful working conditions put in place by its subcontractors, and the dismissal agreements of such employees were approved by the Brazilian Ministry of Labor without any participation by Rumo. In addition, a criminal investigation against Rumo was filed, which was later dismissed with the acquittal of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista. Notwithstanding the foregoing, the Labor Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office filed a public civil action solely against Rumo. Rumo was ordered (in both the first instance and on initial appeal) to comply with several obligations relating to workplace conditions, and pay collective moral damages in the amount of R$15 million, as well as fines of R$100 thousand per breach or per worker in the event of future labor rights</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> violations. However, it is possible under the law that an adverse decision may lead to the inclusion of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista on the list of employers who submit workers to conditions analogous to slavery. Rumo appealed to the Superior Labor Court and this appeal is currently pending judgment. In Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s assessment, an adverse outcome in this lawsuit could result in losses of approximately R$34.5 million (as of December 31, 2021), and adversely affect Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s reputation. Rumo estimates that the risk of loss in this proceeding is possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Paulista annulment action</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian Ministry of Labor has imposed a fine and served an infraction notice on </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista in connection with the abovementioned allegations that certain employees of MS Teixeira were working in degrading conditions analogous to indentured servitude. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista has challenged the infraction notice in an administrative proceeding with the Brazilian Ministry of Labor. Prumo Engenharia has admitted responsibility for the degrading conditions in which certain employees were working, including acknowledging its status as their employer and paying all applicable employment termination fees. This process was recognized and duly recorded by the Brazilian Ministry of Labor. In spite of this, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista has been included in a list of employers that employ workers in a condition analogous to indentured servitude by the Brazilian Ministry of Labor. On April 13, 2018, as part of an annulment action currently being heard, the 83rd Labor Court of S&#227;o Paulo granted an injunction, requiring that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista be removed from the list until a final and unappealable judicial verdict is issued. The Regional Labor Appeals Court of S&#227;o Paulo upheld the injunction following an appeal. The annulment proceeding is currently in the discovery phase. The facts under discussion in the annulment proceeding are similar to those at issue in the abovementioned labor class action. However, in the labor class action, the Labor Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office is seeking the payment of damages and compliance with certain labor obligations by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista, while in the annulment proceeding </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista is seeking the annulment of the Brazilian Ministry of Labor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s infraction notice. We estimate that the risk of loss in these proceedings is possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Paulista working conditions of engine/train drivers.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Labor unions and the Labor Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office filed a public civil action against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista in connection with the working conditions of engine/</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">train drivers, requesting the (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) prohibition of the so-called </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">stand-alone driving</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (when only train driver is in the train cockpit driving it, without any assistant present), (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) installation and proper maintenance of toil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ets in all locomotives, and (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) payment of moral collective damages in the amount of R$30 million. The 36</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">th </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Labor Court of S&#227;o Paulo has ordered </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista stop the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">stand-alone driving</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> practice and pay moral collective damages in the amount of R$10,000 per train driver, as well as moral collective damages in the amount of R$100,000 due to lack of toilets in locomotives. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista, the labor unions and the Labor Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office have appealed to the Regional Appeal Labor Court of S&#227;o Paulo. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s appeal was partially granted by the Regional Appeal Labor Court to allow the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">stand-alone driving</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> practice and to exclude the payment of moral collective damages to the train drivers. The Labor Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office and labor unions</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> appeals were also partially granted by the Regional Appeal Labor Court to order the payment of moral damages, due to failure to properly install and maintain toilets in locomotives, in an amount between R$5,000 and R$20,000 per train driver, and to pay moral collective damages in the amount of R$0.5 million. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista and the Labor Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office presented motions for clarification to the Regional Appeal Labor Court, which has not been successful. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista and the Labor Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office appealed to the Superior Labor Court. These appeals were partially allowed and are currently pending judgment.&#160; The total amount </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">involved as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was R$5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million. Rumo estimates that the risk of loss is possible with respect to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (for which no provision has been recorded) and remote with respect to the remaining R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">54.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Oeste working conditions of engine/train drivers. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A labor union has filed a collective action against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste requesting the prohibition of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">stand-alone driving.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The 1</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">st</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Labor Court of Bauru has declared the dismissal of the action. The labor union filed an appeal to the Regional Labor App</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ellate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Court of Campinas</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, which</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> was granted in November 2019, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prohibiting</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> monoconduction</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Thereafter, we filed a motion to clarify and a motion for exception, as one of the judges at the labor court participated as a member of the Labor Public Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office. The labor union also submitted a motion</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to clarify and both</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> motions are </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">currently </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">pending judgment. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Thus, monoconduction is still currently used in the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste continues to use </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tand-alone driving</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">concession, since the decision on the merits is not final.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> As of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the total amount involved was R$2.9 million and the risk of loss was classified as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Sul claims for payment of a risk premium</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> labor union have filed a public civil action against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and the Brazilian government seeking payment of a risk premium related to the exposure of workers performing maintenance activities on permanent roads to flammable and explosive </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">product</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, as well as electricity. The labor court ruled in favor of the Labor Union, requiring the parties to pay this risk premium to the employees represented in the lawsuit. At the same time, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul filed a cross-claim against the Brazilian government, seeking to restore the economic-financial balance of certain leases and concession agreements. A settlement was reached between the Company and the labor union in July 2020, whereby we agreed to pay R$3.4 million for the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s own liability, and R$45.1 million for the Brazilian government</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s liability, which was settled and paid for using certain credits owed to us by the Brazilian government under the aforementioned leases and concession agreements. As of December 31, 2021, an adverse outcome in the remaining proceedings, i.e., by laborers that were not subject to the settlement with the labor union, could result in aggregate losses of R$69.3 million, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul estimates </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a probable </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">risk of loss and has recorded provisions in the amount of R$0.3 million</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Road cargo transportation and labor conditions of lorry drivers.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The Labor Prosecution Office filed a public civil ac</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tion against Rumo requesting: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the prohibition of outsourcing services related t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">o road freight transport and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) compliance with working hour rules. In addition, the Labor Prosecution Office requested the payment of compensation for collective moral damages in the am</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ount of R$91.5 million due to (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) noncompli</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ance with outsourcing rules; (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) se</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">vere extended working hours; (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">working conditions analog</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ous to indentured servitude; (4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> suppression of legal breaks; (5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">indirect promotion of illegal </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">substance abuse by employees; (6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) enhancement of potential </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">work-related accidents; and (7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">social dumping. The 1st Labor Court of Araraquara in the state of S&#227;o Paulo has ordered Rumo not to outsource road cargo transportation and to ensure compliance with the legal overtime limit and mandatory breaks, in addition to paying R$15 million of moral collective damages. Rumo appealed and the Regional Appeal Labor Court of Campinas in the state of S&#227;o Paulo ruled partially in favor of Rumo, enabling the outsourcing of road cargo transportation and reducing the amount of moral collective damages to R$5 million, but maintaining the obligation to comply with overtime limit and mandatory breaks. Rumo appealed to the Superior Labor Court and the appeal is currently pending. The Brazilian Supreme Court has recently ruled that outsourcing is generally permitted. While Rumo expects this ruling to have a positive effect on Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s ongoing proceedings, Rumo cannot guarantee that it will be successful. In Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s assessment, as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, an adverse outcome in these proceedings could result in aggregate losses of R$150.6 million (for which Rumo estimates the risk of loss as possible with regard to an amount of R$24 million and, as remote with regard to an amount of R$126.6 million), for which no provision has been recorded.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Claims for Overtime, Night Shifts and Certain Improvements to Working Conditions.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> A labor union has filed a labor cl</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">aim demanding that we pay for (1) overtime, (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) night shifts, a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nd (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) breaks for rest and meals. The Labor Court ruled partially in favor of the labor union, requiring that overtime be paid. We appealed to the Regional Appe</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">llate</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Court and Superior Labor Court, but both appeals were dismissed. We appealed again to the Supreme Court and this appeal was definitely dismissed. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The claim was dismissed on May 20, 2020, and we expect to pay amounts</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> individually in the lawsuits filed by the replaced employees: 274 lawsuits were filed and Rumo has already paid R$12.1 million in total in part of those individual lawsuit, thus reducing the amount recorded as provision accordingly. We estima</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">te that, as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the risk of loss as probable and for which we have recorded a provision in the amount of R$52.3 million, and risk of loss as possible in the amount of R$23.9 million, and remote in the amount of R$43.5 million, for which no provision has been recorded.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Brado Log&#237;stica</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Arbitration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">This is an arbitration relating to the Brado Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement, in which our counsel assessed the risk of loss as possible and for which we have not recorded any pr</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ovision. As of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the amount under dispute was R$782 million. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the course of this arbitration proceeding, the arbitration tribunal decided that we would be required to pay the Original Shareholders in cash for the exercise of the put option by the Original Shareholders under the Brado Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agreement. In September 2021, we reached a settlement with the Original Shareholders, whereby we agreed to acquire their 15.4% interest in Brado Log&#237;stica (the total participation of the Original Shareholders) for approximately R$388 million. The acquisition was completed, and the payment was made, on September 10, 2021. As a result, we now own a 77.14% indirect interest in Brado Log&#237;stica.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Arbitration</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo is involved in a confidential arbitration. The plaintiff, a sugar trading company, is seeking indemnification claims in an amount of approximately R$719 million in connection with the allegedly undue termination of a rail service and investments contract. Rumo filed a counterclaim, whereby it argues that the claims of the opposing party cannot be admitted in court. Rumo also claims the responsibility of the opposing party to pay damages arising from its unconditional termination of the agreement. The parties have filed an application and response or counterclaim. A hearing has taken place and the parties are currently waiting the arbitration court to issue a decision. A court hearing has been scheduled following the parties</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> initial presentations of their allegations and the responses thereto. Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s counsel has assessed the risk of loss as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> (Agrovia)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In July 2018, Rumo became aware that a preliminary investigation was started by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> following certain allegations made by Agrovia S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Agrovia.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Agrovia alleges that Rumo abused its dominant position in the sugar market resulting in damages to Agrovia. Rumo has sought to ref</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ute the arguments presented by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and has pointed out that most of the facts have already been analyzed and rejected in separate administrative proceedings. In March 2019, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> started an administrative proceeding accusing Rumo of abusing of its dominant position against Agrovia. Rumo has presented its defense and the superintendence of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> has recommended that a decision against Rumo be is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sued. The amount involved is R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">16 million. No decision has been issued </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as of the date of this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s counsel has assessed the risk of loss as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Lawsuits concerning the economic-financial balance of leasing and concession contracts.</span>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Oeste</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste is part of lawsuits with the Brazilian government relating to the restoration of the economic-financial balance of the contracts entered into by the parties under the concession for certain railroad networks and the leasing of the related equipment. The Brazilian government filed lawsuits to collect unpaid installments of the leasing and concession contracts. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste, in turn, filed its own lawsuits seeking the restoration of the economic-financial balance of the contracts. The trial court issued interlocutory decisions authorizing </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste to guarantee the maturing installments through insurance guarantees provided by insurers. The trial court subsequently ruled in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s favor on December 19, 2014. The Brazilian government filed appeals against the decision. As of the date of this annual report, the appeal regarding </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste is still pending. The aggregate payments alleged to be owed by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste total R$1,617 million. An adverse outcome in this lawsuit could result in significant losses to Rumo. In particular, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste would be required to pay the installments guaranteed by insurance guarantees. The risk of loss in these proceedings is estimated as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Oeste Re-bidding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">On July 21, 2020, we formally requested that the Brazilian government submit our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste operations to a re-bidding process with third parties pursuant to Federal Law No. 13,448/2017 and Decree No. 9,957/2019. On December 23, 2020, the Brazilian government approved our request to re-bid </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> operations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. On May 20, 2021, we entered into an amendment to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste concession agreement with the Brazilian government setting out our obligations during the re-bidding process</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The r</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e-bidding procedures are currently under review by ANTT</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he r</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">-bidding is expected to be concluded by 2023. However, we have</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">no control over if and when re-bidding will</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">occur, and any projected dates may be brought up or pushed back by the Brazilian government at its sole discretion.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 45.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> Sul</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul has also filed a lawsuit against the Brazilian federal government in connection with certain labor obligations which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul believes should be paid by the Brazilian federal government and not by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul pursuant to the applicable concession agreement. In 2020, the court decided the case in favor of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul and granted an injunction authorizing </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul to offset part of these labor-related obligations against payments it owed to the Brazilian federal government. The Brazilian federal government has filed an appeal which is pending as of the date of this annual report. The amount involved is R$57 million and the risk of loss has been estimated as possible.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Portofer lawsuit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office filed a public civil action against ALL and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista, relating to irregularities in the public bidding of the railroad network of Porto de Santos in the state of S&#227;o Paulo. According to the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office, the government leased the railroad network to FERROBAN, FERRONORTE and FERROVIA NOVOESTE without having held prior bidding proceedings. ALL and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista were included in this lawsuit as defendants because they are successors to these companies. Certain allegations of anticompetitive practice have been made in connection with these proceedings, based on the fact that the concession agreement related to the railroad network within the Port of Santos was directly awarded to FERROBAN, FERRONORTE and FERROVIA NOVOESTE without holding a bidding process, which the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office believes should have been held. However, in the complaint, the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office did not allege that anticompetitive practices were committed by the defendants themselves. Accordingly, even if the outcome of the lawsuit is negative for the defendants, the defendants will still be able to enter into contracts with the Brazilian public sector, and, if the concession agreement is deemed void, the government will be required to indemnify the defendants for investments made unless the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office can prove that such persons acted in order to avoid a bidding procedure. In any event, it is likely that the renewal clause of the agreement will be deemed void. An adverse outcome in this lawsuit could result in the loss of ALL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s concession, a new bidding process being held in relation to the railroad network of Porto de Santos and the restitution of any unamortized investment made by ALL in the network. The trial court dismissed the injunction request of the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office, pursuant to which the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office requested the commencement of a new bidding proceeding and that the Brazilian government be prevented from renewing the current concession contract. ALL and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista presented a defense in connection to this case, arguing the maintenance of the current concession agreement. The court denied the injunction requested by the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office. The court also denied the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s other requests. The Federal Prosecutor has filed an appeal. The risk of loss in these proceedings is estimated as possible. The Brazilian Court of Auditors (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Tribunal de Contas da Uni&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">TCU,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is also analyzing the legality of these lease agreements. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista and ALL have presented their defense, stating that a legal exception to the bidding rule authorizes the execution of the contract without a public bidding process. Until the date hereof, no final decision has been issued by TCU on this matter.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Terminals Leasing</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Proceedings have been brought against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte in connection with alleged irregularities in the public bidding process relating to the lease contract and amendments thereto into which Rumo Malha Norte, the port authority and others entered into in relation to Terminal XXXIX, Terminal de Gran&#233;is do Guaruj&#225; and Terminal Mar&#237;timo do Guaruj&#225;. According to the claim, the contract should not have been signed without a prior bidding process having been held. The first instance court denied the claims. The initial judgment was then revised on appeal. Following another appeal, the Superior Court of Justice denied the claim once again. As of the date of this annual report, a new appeal made by the prosecutor was pending. A decision against </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte could result in the loss of the Terminals leasing, a new bidding process being held in relation to the Terminals and the restitution of any unamortized investment made by us in the network. The risk of loss in this proceeding is deemed to be possible.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo/ALL Investigation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">During</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 2016, Rumo became aware of certain press reports alleging that improper payments to government officials were made by former employees of ALL (prior to being acquired by Rumo) in connection with an investment by Fundo de Investimento do Fundo de Garantia do Tempo de Servi&#231;o, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">FI-FGTS,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s indirect subsidiary Brado Log&#237;stica and in ALL. As a result of these allegations, Rumo has engaged external legal counsel and consultants to conduct an internal investigation. The report of the investigation was submitted to the Federal Prosecutor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s Office, which determined the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Police Department to file a police inquiry to investigate corruption and money laundering that allegedly occurred at ALL and Brado prior to its acquisition by Rumo. At this time, we can neither predict the outcome of the criminal investigation, the consequences of any findings or any measures that may be taken by local authorities, any of which may have a material adverse effect on Rumo. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 3. Key Information&#8212;D. Risk Factors&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Risks Related to Our Business, the Operations of Our Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and Industries in Which We Operate&#8212;We cannot predict the outcome of an investigation into the conduct of former employees of ALL prior to its acquisition by Rumo.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The TCU is also analyzing the regularity of this investment by FI-FGTS in Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s indirect subsidiary Brado Log&#237;stica and in ALL. Rumo and ALL have presented their defense, stating that the investment generates a financial return to FI-FGTS that justifies it. Until the date hereof, no final decision has been issued by TCU on this matter.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In July 2018,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the Brazilian Antitrust Authority </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">initiated an investigation against us following allegations made by Agrovia S.A., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Agrovia,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> that we have abused our dominant position in the sugar market and caused damage to Agrovia. Although we have informed </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">that most of the facts argued by Agrovia have already been analyzed and rejected in separate administrative proceedings, in March 2019, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the Brazilian Antitrust Authority</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> initiated a formal administrative proceeding alleging we abused our dominant position in the sugar market and caused damage to Agrovia. As of the date of this annual report, the analysis of the merits of this defense is pending. Our counsel has assessed the risk of loss in this administrative proceeding as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Goodwill Comg&#225;s.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s received three tax assessment notices for the collection of IRPJ and CSLL relating to calendar years 2013 to 2014,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2015 to 2016 and 2017 to 2018. Tax authorities disregarded goodwill expenses derived from certain investments. According to Comg&#225;s, as of December 31, 2021, the total amount under discussion was R$1,084 million (for the 2013 to 2014 assessment); R$1,297 million (for the 2015 to 2016 assessment) and R$785.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million (for the 2017 and 2018 assessment). The risk of loss is classified as possible.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Tax assessment notices.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Company and its subsidiaries have received assessment notices based on the following: (1) Comg&#225;s was aware of the offsetting procedures, using income tax credits (IRPJ and CSLL), in a possible amount of R$375</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million as of December 31, 2021; and (2) CLE has a requirement of IPI at restricting its constitutional immunity from oil lubricant deri</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ved, in a possible amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">205.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million as of December 31, 2021.</span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Certain Tax Proceedings</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are parties to certain other tax proceedings, including the following primary proceedings:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Tax assessment notices filed by the Brazil </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Revenue</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Service for the collection of IRPJ, CSLL, PIS and COFINS relating </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to calendar</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> years 2005 to 2008. Tax authorities challenged (1) the use of PIS and COFINS credits from locomotive repairs </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">inputs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, (2) the deduction of financial costs arising from loans with foreign financial institutions from the taxable IRPJ and CSLL calculation basis, (3) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">exclusion of financial income from securities issued by the Government of Austria and the Government of Spain from taxable IRPJ and CSLL calculation basis, (4) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the inclusion</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of g</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ains earned on</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> swap </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">transactions</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in the IRPJ and CSLL calculation basis,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nd the lack of payment of&#160; PIS and COFINS in connection with such financial income, (5) the exclusion from </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">taxable basis of IRPJ and CSLL due to the use of PIS and COFINS credits, (6) the exclusion </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">from the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> taxable basis of IRPJ and CSLL due to the use of deferred CSLL and (7) insufficient prepayment of IRPJ and CSLL that have resulted in the application o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">f fines.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The tax assessment was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">materially</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> reduced upon the judgment of the administrative appeal by CARF. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of the date of this annual report, i</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tem (7)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> still pending administrative decision</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and i</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tem (3) has been challenged before judicial courts. The amount involved is R$8.4 million and the risk of loss is classified as possible.</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo has received tax assessments in connection with PIS and COFINS payments relating to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Oeste concerning administrative disallowance for a non-cumulative system relative to (1) credits issued untimely unattended of previous rectification of tax return; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">credits of expenses of mutual traffic contracts; (3) unproven credits of expenses with services classified as input material; (4) company employees transportation expenses credits; (5)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">electricity expenses credits; (6)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">unproven equipment rental agreement and rental expenses credits; (7)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">expenses in acquisition of machines, equipment and incorporated into company permanent assets </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">credits and (8) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">standalone</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> fi</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ne corresponding to 50% of the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> amount</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of credits</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. As of December 31, 2021, the amount involved was R$1,077</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million with a possible risk of loss.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Paulista had part of its IRPJ credit balance rejected based on the argument that it would not be entitled to IRRF compensation on swap transactions. The amount involved is R$13</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, with a possible risk of loss.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian tax authorities issued tax assessments in 2011, 2013 and 2019 against Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">challenging </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">amortization expenses based on future profitability, as well as financial expenses and (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">non-taxation of capital gain</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> derived from the disposal of equity interest in a company of the same group.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In 2019, a favorable definitive decision relating to the capital gains assessment was issued. As of December 31, 2021, the amount involved was R$29.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million, with a possible risk of loss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo has received an assessment relating to the disregard of the tax benefits of REPORTO (PIS and COFINS suspension), on the grounds that the locomotives and freight cars purchased in 2010, 2011 and 2012 were used outside the limits of the port. Therefore, Rumo was assessed to pay PIS and COFINS, as well as a fine corresponding to 50% of the value of acquired assets, in the amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">461.7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, with a possible risk of loss.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The tax authorities have partially rejected the installment requests for federal tax debts made by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Sul and Intermodal, arguing that the Net Operating Losses, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">NOLs,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> offered by the companies were not sufficient to discharge their existing debts. The amount involved is R</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">$155.0 </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The probability of loss is considered possible, since the NOLs existed and were available for such use.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo has received tax assessments issued for the collection of social security contributions on amounts incurred in connection with its stock option plan (the collection of these amounts would have to be equivalent to 20% of the amount paid). The main reason for the assessment is the alleged remunerative nature of the amounts. The amount involved was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">65.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, with a possible risk of loss.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is a party to administrative proceedings brought by the Brazilian federal revenue service with respect to (1) the collection of the tax on financial transactions (IOF) on checking accounts maintained by Rumo for its affiliates and other controlled companies. The Brazilian federal revenue service argued the use of an accounting caption to indicate advance of expenses to affiliated companies, without a formal loan contract, constitutes a checking account over which IOF should be paid and (2) the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">failure to collect </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IOF by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte, in 2017 and 2018, on financial transacti</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ons between the group companies, in particular in relation to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">remittance of mutual traffic between </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Paulista, contracts with Ra&#237;zen and other values in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">accounting statement. The amount involved is R$136.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, with a possible risk of loss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo Malha Sul submitted various compensation declarations, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">DCOMP,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> through the PER/DCOMP electronic system with respect to credit premiums, using credit acquired from a third party (Fibra S.A. Ind&#250;stria e Com&#233;rcio and others). The DCOMP deemed these not to have been declared as they related to third parties</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> credit and credit premiums, and imposed a 75% fine, according to article 18, para. 4, of Federal Law no. 10,833/2003. The amount involved is R$4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million with a possible risk of loss.</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo has received various tax assessments requiring the payment of IRPJ and CSLL related to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Malha Norte Goodwill</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: tax assessment notices issued for the collection of IRPJ and CSLL, as well as interest for late payment and fines. In the opinion of the Brazilian federal revenue, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Malha Norte improperly amortized the goodwill calculated on the acquisition of Brasil Ferrovias S.A. and Novoeste Brasil S.A; (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">GIF, TPG and Tea&#231;u</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: tax assessment notices issued for the collection of IRPJ and CSLL, in addition to default interest and fines for the following reasons: (a) deduction of the actual profit and the CSLL tax base from the amount corresponding to the amortization made in the acquisition of an interest in Tea&#231;u Armaz&#233;ns Gerais S.A. and (b) deduction of the actual profit and the basis of calculation of CSLL from the amount corresponding to the amortization of the goodwill paid by TPG Participa&#231;&#245;es S.A. and GIF LOG Participa&#231;&#245;es S.A in the acquisition of share</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s issued by Rumo S.A; and (iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Labor provisions</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">: tax authorities have questioned Rumo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s assumption that we could exclude from the calculation of the actual </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">profit and the adjusted basis of calculation of CSLL certain labor provisions. According to the tax authorities, our write-off of labor </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">provisions was made without the individualization of the proceedings (provisions and reversals), which would impact the tax calculation. Considering that the statute of limitations has expired and that we have complied with all tax rules regarding the addition and exclusion of provisions in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">determination of IRPJ and CSLL</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">549.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31, 2021, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">risk of loss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in connection with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">this matter has been classified as possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.&#160;</span></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Rumo </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">received tax assessments that require the pay</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ment of ICMS, as follows: (i) payment of ICMS on rail freight services rendered in connection with the export of goods;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (ii) improper ICMS bookkeeping;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (iii) credits of expenses with servic</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">es classified as input material;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (iv) payment of ICMS on rail freight services rendered in connection with the export of goods; (v) payment of ICMS based on the understanding that certain export transactions that made use of cancelled electronic documents of transportation (DACTEs) would be unlawful; and (iv) payment of ICMS between 2018 and 2019 on the acquisition of certain locomotives as a result of the alleged non-exemption provided for by REPORTO. As of December 31, 2021, the total amount involved in these proceedings is R$952.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">million with a possible risk of loss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Judicial Deposits</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In accordance with court orders concerning certain tax, civil and labor lawsuits, we had bank judicial deposits i</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">n an aggregate amount of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">923.1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Criminal Proceedings</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Criminal Environmental Claims</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan S.A. and its subsidiaries are parties to nine criminal environmental lawsuits and are being investigated in certain environmental police inquiries in process in the states of S&#227;o Paulo, Par&#225;, Rio Grande do Sul, Mato Grosso do Sul, Paran&#225;, Rio de Janeiro, Minas Gerais, Bahia, Pernambuco and Santa Catarina. The main crimes alleged are noise pollution; contamination of soil and rivers; burning; deforestation of native forest; emission of pollutants into the atmosphere and irregular transportation of dangerous products.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Other </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Criminal Proceedings</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan is a party to a criminal proceeding initiated by the Public Prosecutor Office of the state of Pernambuco (Promotor de Jus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">i&#231;a do Estado do Pernambuco) claiming that Cosan alleg</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">edly stopped paying state taxes in 2009. At the time of the alleged conduct, Messrs. Rubens Mello, Marcos Lutz, Marcelo Portela, Paulo S&#233;rgio Diniz, Pedro Mizutani and Marcelo Martins were the executive officers at Cosan at the time. Accordingly, considering they were representatives of Cosan, they may also be named in any future criminal proceedings. Our legal department has prepared a counter-notification to clarify the facts in order to avoid consequences of criminal nature. Considering the related tax proceeding is currently suspended because a guarantee for the amount allegedly due has been provided, the criminal proceeding was dismissed. The risk of loss is remote. </span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Criminal Proceedings Involving Members of Our Management</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certain members of our management are parties to criminal proceedings, as follows:</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Rubens Mello</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Rubens Ometto Silveira Mello, in his capacity as a representative of Usina da Barra S.A. &#8211; A&#231;&#250;car e &#193;lcool (the former corporate name of Ra&#237;zen Energia), was named a defendant in a complaint filed on September 24, 2007 alleging the crimes of disobedience and pollution in connection with the burning of sugarcane straw by the company in contravention of a judicial decision in a public civil class action which banned this practice in the region. In a motion, Mr. Mello pleaded (1) the illegitimacy of his status as a defendant, given that he did not participate in the alleged conduct and was not the owner or lessor nor did he exercise control over the area in which the alleged conduct took place, (2) the fact that the alleged conduct does not constitute a crime, given that the notice regarding the prohibition against the burning of sugarcane straw was not given by the competent authority and (3) that the right to the controlled burning of sugarcane in the region was reestablished in the context of the public civil class action and that the allegations with regards to the crimes of disobedience and pollution should therefore be disregarded. The motion was granted in part in relation to the suspension of the criminal proceeding until the rendering of a final judgment in the public civil action. While the statute of limitations with respect to the crime of pollution was tolled, the statute of limitations with respect to the crime of disobedience was not suspended and has expired. Accordingly, the complaint with respect to the crime of pollution was remanded to the state authorities in order for the investigations in connection with crime of pollution to continue. The public civil action was dismissed with the judgment of an appeal filed by the Federal Regional Court of the 3rd Region in March 2018, considering that the authorization of CETESB to burn sugarcane was not illegal. In February 2020, the public civil action became final and unappealab</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">le. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">On November 17, 2021, the criminal court dismissed all</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">charges against Mr. Mello. On December 13, 2021, this case was closed.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Rubens Ometto da Silveira Mello was required to provide information in relation to a police investigation (IPL 2020.0047001 &#8211; DELINST/DRCOR/SR/PF/SP). The police investigation relates to information provided by Mr. Antonio Palocci in the context of plea bargain. Mr. Palocci alleged that certain unlawful electoral donations were made to a political party in 2010 to secure the approval of provisional presidential decree No. 470. Cosan is not currently involved in any administrative or judicial proceeding in relation to this matter. A constitutional motion claiming procedural faults by the police authority in the course of the investigations has been filed by a third party with the Brazilian Supreme Court. If this motion is decided favorably, the police investigation would be deemed null, which would benefit Mr. Mello</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s case. Justice Ricardo Lewandowski has suspended the police investigation until the merits of the constitutional motion are considered. In December 2021, the constitutional motion was dismissed. On the other hand, a habeas corpus was granted to Mr. Rubens Ometto Silveira Mello and the criminal proceeding was dismissed. This decision could be appealed</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Rubens Mello and Mr. Guilherme Cerqueira</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Cerqueira, an executive officer of Ra&#237;zen Centroeste A&#231;&#250;car e &#193;lcool Ltda. (formerly known as Cosan Centro-Oeste A&#231;&#250;car e &#193;lcool Ltda.), and Mr. Mello, while an executive officer of Ra&#237;zen Centroeste A&#231;&#250;car e &#193;lcool Ltda., were named defendants, together with Ra&#237;zen Centroeste A&#231;&#250;car e &#193;lcool Ltda., in a complaint filed on July 20, 2011 alleging artificial price fixing of fuel and the formation of a cartel for the purpose of establishing regional market control. In their defense, Mr. Mello and Mr. Cerqueira maintain that their status as defendants in the proceeding is not proper given the lack of proof of their involvement in the alleged illicit acts. Mr. Mello and Mr. Cerqueira also maintain that the increase in the price of ethanol resulted solely from market forces (i.e., that the increase in the price of ethanol did not result from criminal conduct, but rather the lawful exercise of a recognized constitutional right of free enterprise). In November 2018, a writ of </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">habeas corpus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> issued by Brazilian Supreme Court (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Superior Tribunal de Justi&#231;a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">granted to cancel the criminal proceeding against Guilherme Jos&#233; de Vasconcelos Cerqueira, Rubens Ometto Silveira Mello and Leoc&#225;dio de Almeida Antunes Filho due to defective pleading. The criminal proceeding had not been dismissed because some of the defendants have settled a probation agreement. In June 2019, the probational term </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">was finished </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and all the charges </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">were </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">dismiss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ed. The risk of loss is remote.</span></p>
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<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Rubens Mello, Mr. Marcos Lutz and Mr. Pedro Mizutani</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Rubens Mello, Mr. Marcos Lutz and Mr. Pedro Mizutani were named as defendants in a criminal complaint filed on August 28, 2014 to determine whether they have committed tax evasion in connection with the alleged failure to adequately pay state value added taxes (ICMS). The determination as to whether outstanding taxes are in fact due is at issue in a separate tax collection enforcement proceeding that is independent of the criminal proceeding. Bank letters of credit and insurance guarantees have been deposited with the relevant court in order to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">secure the amount in controversy. Given the fact that the crime of tax evasion requires there to be an actual loss to the tax authorities, such deposits have generally been interpreted by the Brazilian courts to eliminate criminal liability given that there would no longer exist a direct or indirect risk of harm to the public treasury and the allegedly illicit conduct of the defendants would no longer constitute a crime. This understanding, however, may change depending on the judge</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s final decision. In view of the foregoing, the defense filed a motion requesting that the criminal proceedings (which are currently suspended) be terminated for lack of cause. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of the date of this annual report, this criminal proceeding is stayed and awaiting final </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">judgment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of a motion to stay enforcement of the related tax proceedings</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the opinion of counsel responsible for the defense, the likelihood of a decision favorable to the defendants is possible. In any event the payment of the amounts due would be sufficient to extinguish criminal liability.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Rubens Mello, Mr. Marcos Lutz and Mr. Pedro Mizutani were named as defendants in a criminal complaint filed on May 16, 2019 to determine whether they have committed tax evasion in connection with the alleged failure to adequately pay state value-added taxes (namely ICMS). The determination as to whether outstanding taxes are in fact due is at issue in a separate tax collection enforcement proceeding that is independent of the criminal proceeding. Bank letters of credit and insurance guarantees have been deposited with the relevant court in order to secure the amount in controversy. Given the fact that the crime of tax evasion requires there to be an actual loss to the tax authorities, such deposits have generally been interpreted by the Brazilian courts to eliminate criminal liability given that there would no longer exist a direct or indirect risk of harm to the public treasury and the allegedly illicit conduct of the defendants would no longer constitute a crime. This understanding, however, may change depending on the judge</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s final decision. In December 2021, the court ruled that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">criminal complaint </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">be</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">suspended until the final decision in motion to stay execution on tax sphere. In the opinion of counsel responsible for the defense, the likelihood of a decision favorable to the defendant is possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Rubens Mello, in his capacity as a representative of Cosan, is also a party to two police investigations into tax evasion practices. For similar reasons as in the case above, these investigations have been stayed, and a court has ordered that Mr. Mello</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s name be removed from the investigation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The amount at issue is R$9.1 million. Possible contingencies could result from other procedures related to these facts, such as the tax foreclosure proceedings that gave rise to this criminal investigation. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The chances of loss ha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> been assessed as possible.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Rubens Mello and Mr. Marcelo Martins</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Martins and Mr. Mello, together with other individuals, are named defendants in their capacities as executive officers and accountants of Nova Am&#233;rica S/A Comercial, in certain criminal complaints filed by the prosecutors of the state of Rio de Janeiro in connection with the alleged commission of crimes against the tax order related to the alleged failure to adequately pay state value-added taxes (ICMS) by Nova Am&#233;rica. Mr. Martins and Mr. Mello and the other defendants were summoned and presented their defenses. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> December 2021, the court ruled that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">criminal complaint be suspended until the final decision in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">motion to stay execution on </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tax </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">proceedings</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result, t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">his proceeding is currently stayed.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the opinion of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">counsel responsible for the defense, the likelihood of a decision favorable to the defendant is possible</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Marcelo Martins</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Marcelo Eduardo Martins is a defendant in a criminal complaint filed by the Public Prosecutor of the state of Bahia on July 4, 2016, regarding the crime of tax evasion for the alleged failure to pay ICMS by Votorantim Cimentos N/NE S/A prior to Mr. Martins joining Cosan S.A. A reply to the indictment has already been filed and the relevant court determined scheduling of a hearing. The amount is guaranteed by judicial deposit in the respective tax proceedings. The criminal proceeding is currently awaiting the start of the discovery phase. On November 8, 2020, the defendant filed for a dismissal of the lawsuit given that a deposit of the amount in question had been made. On August 14, 2020, Prosecution Office agreed with the defendant</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s request and filed for the termination of the proceeding. In November 2021, the criminal court granted a cause of termination </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">due to tax payment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Ricardo Dell Aquila Mussa and Mr. Nelson Roseira Gomes Neto</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Ricardo Dell Aquila Mussa and Mr. Nelson Roseira Gomes Neto are among the defendants in a criminal proceeding initiated by Nike International Ltd. and Nike do Brasil Com&#233;rcio e Participa&#231;&#245;es Ltda. in connection with alleged crimes against intellectual property and trademarks (as provided for in Brazilian law) relating to the alleged unauthorized use of a registered trademark, as well as the importing of products marked with brands illegally </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">reproduced or copied from a third party (in each case, in their respective capacities prior to joining Ra&#237;zen and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Comg&#225;s, respectively)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. All defendants have already presented their respective defenses, and a</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> favorable decision of acquittal was granted by a first instance court on November 13, 2017. Nike</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s appeal was </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">dismissed</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and our motion </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">granted </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in an</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> unappea</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">la</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ble</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> judgment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. According to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">external counsel, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">risk of loss </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">remote.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Mr. Guilherme Cerqueira</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mr. Guilherme Cerqueira is subject to a police investigation initiated by the Brazil Internal Revenue Service (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Receita Federal do Brasil</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) as a result of tax assessment No. 16561.720093/2011-38, and overdue tax liabilities No. 80.6.19.257453-11 and No. 80.2.19.125528-63. The facts allegedly occurred from 2005 to 2007. The tax authorities are seeking to collect IRPJ and CSLL in relation to certain goodwill expenses arising from corporate transactions carried out by Cosan in connection with the acquisition of the Corona Group. As of December 31, 2021, the tax liability was R$462.3 million, including interest and fines. Collection of the amount due is suspended as a guarantee has been provided. The risk of loss has been estimated as </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">possible. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The criminal </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">complaint was dismissed by </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">State of S&#227;o Paulo Trial Court.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Messrs. Rubens Mello, Marcos Lutz, Marcelo Portela, Paulo S&#233;rgio Diniz, Pedro Mizutani and Marcelo Martins</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan is a party to a criminal proceeding initiated by the Public Prosecutor Office of the state of Pernambuco (Promotor de Jus</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">i&#231;a do Estado do Pernambuco) claiming that Cosan allegedly stopped paying state taxes in 2009. At the time of the alleged conduct, Messrs. Rubens Mello, Marcos Lutz, Marcelo Portela, Paulo S&#233;rgio Diniz, Pedro Mizutani and Marcelo Martins were the executive officers at Cosan. Accordingly, considering they were representatives of Cosan, they may also be named in any future criminal proceedings. Our legal department has prepared a counter-notification to clarify the facts in order to avoid consequences of criminal nature. The court ruled that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">criminal complaint be dismissed </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">based on</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the guarantee offered in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">motion to stay </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">execution </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">being</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">suffic</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ient to guarantee the tax debt.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Legal Proceedings of the Joint Venture</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, the Ra&#237;zen Joint Venture is also party of certain legal proceedings as described under </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 4. Information on the Company&#8212;E. Supplemental Information About Joint Venture&#8212;Legal and Administrative Proceedings of the Joint Venture.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Dividends and Dividend Policy</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Dividend Rights</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian Corporation Law and Cosan S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s by-laws require that we distribute annually to our shareholders a mandatory minimum dividend, unless our board of directors notifies the shareholders that such distribution is not advisable in light of our financial condition as reflected in our consolidated financial statements. The basis of the mandatory dividend is a percentage of the net income, as adjusted pursuant to the Brazilian Corporation Law. Under our by-laws, a minimum of 25% of our adjusted net income should be intended for distribution and payment to our shareholders as mandatory dividend. However, the payment of mandatory dividends to our shareholders may be limited to the amount of realized net income in a given year, provided the difference is recorded as an unrealized income reserve.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are required by the Brazilian Corporation Law and our by-laws to hold an annual shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting no later than four months after the end of each fiscal year, at which time the allocation of the results of operations in any year and the distribution of an annual dividend are reviewed. The distribution of annual dividends is based on our audited financial statements prepared for the immediately preceding fiscal year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Additionally, pursuant to the Brazilian Corporation Law and Cosan S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s by-laws, interim and extraordinary dividends may be distributed to our shareholders by decision of our board of directors, to be confirmed by the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. Amounts paid as interim and extraordinary dividends are included in the calculation of the minimum mandatory dividend provided for in the Brazilian Corporation Law and Cosan S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s by-laws.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Calculation of Adjusted Net Income</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">At each annual shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting, our board of directors is required to recommend how to allocate our net income for the preceding fiscal year, which recommendation our board of executive officers initially submits to our board of directors for approval.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">This allocation is subject to approval by our common shareholders. The Brazilian Corporation Law defines </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">net income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for any fiscal year as our net income after income taxes for that fiscal year, net of any accumulated losses from prior fiscal years and any amounts allocated to employees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> participation in our net income in that fiscal year. Under the Brazilian Corporation Law, our adjusted net profit available for distribution are equal to our net profit in any fiscal year, reduced by amounts allocated to our legal reserve and other applicable reserves, and increased by any reversals of reserves that we constituted in prior years.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Reserve Accounts</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under the Brazilian Corporation Law and our by-laws, we are required to maintain a legal reserve. In addition, we are permitted by the Brazilian Corporation Law to establish the following discretionary reserves:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a contingency reserve for an anticipated loss that is deemed probable in future years. Any amount allocated in a previous year must be reversed in the fiscal year in which the loss had been anticipated if the loss does not occur as projected or charged off in the event that the anticipated loss occurs;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a reserve for investment projects, in an amount based on a capital expenditure budget approved by our shareholders;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">an unrealized income reserve; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a tax incentive investment reserve, included in our capital reserve accounts, in the amount of the reduction in our income tax obligations due to government tax incentive programs.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Allocations to each of these reserves (other than the legal reserve) are subject to approval by our common shareholders voting at our annual shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian Corporation Law provides that the legal reserve and the tax incentive investment reserve may be credited to shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity or used to absorb losses, but these reserves are unavailable for the payment of distributions in subsequent years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The amounts allocated to the other reserves may be credited to shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity and used for the payment of distributions in subsequent years.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We expect to have sufficient available cash to pay dividends in accordance with our dividend policy. We do not, however, plan to pay dividends in the event that we do not generate sufficient cash from operations. In addition, we will not pay dividends if we believe that such payment will limit or preclude our or our subsidiaries</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ability to pursue growth opportunities. Although our by-laws do not restrict us from borrowing funds to pay dividends, we do not intend to borrow funds to pay dividends.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Any cash dividends payable to holders of our ADSs quoted on the NYSE will be paid to J.P. Morgan Chase Bank, N.A., our transfer agent in the United States, for disbursement to those holders.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Joint Venture</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">s Dividend Policy</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement between us and Shell also establish the dividend policy of the Joint Venture. The dividend policy states that the Joint Venture seeks to maximize the amount of profits to be distributed to its shareholders in a manner consistent with its leverage ratio objectives and capital investment requirements. The supervisory boards must propose, and the shareholders approve, an allocation of the net profit of the Joint Venture in accordance with the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreements. The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreements provide that net profit is subject to the following allocation order:</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">first</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, up to 5% of net profit to the respective company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s legal reserve, which may not exceed a specified amount, the lower of 20% of the respective company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s capital stock or 30% of the capital plus any capital surplus;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">second</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, a variable amount of net profit to each shareholder based on certain tax attributes contributed by it to the Joint Venture; we are entitled to receive preferential dividends equivalent to the amount of any tax savings from the amortization of goodwill it contributes to the Joint Venture. Similarly, Shell is entitled to receive preferential dividends equivalent to the amount of any tax savings from the amortization of accumulated losses that it contributes to the Joint Venture;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">third</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, a nominal amount of net profit to the holders of certain preferred shares;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">fourth</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 1% of net profit to the shareholders;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">fifth</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, a variable amount, capped at a specified percentage of net profit, to the respective company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s statutory reserve for operations and projects, such amount not to exceed 80% of net profits or 80% of the respective company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s share capital; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">sixth, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the distribution of the remaining amount of net profit to be determined by the shareholders.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Brazilian Taxation</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Taxation of Dividends</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends paid on our common shares or ADSs to U.S. Holders are currently not subject to withholding income tax, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">WHT,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in Brazil to the extent that such amounts are related to profits generated on or after January 1, 1996. Dividends paid from profits generated before January 1, 1996 may be subject to WHT at variable rates, according to the tax legislation applicable to each corresponding year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Law No. 11,638, dated December 28, 2007, or Law No. 11,638, significantly changed the Brazilian Corporation Law in order to align Brazilian generally accepted accounting principles with the IFRS. Nonetheless, Law No. 11,941, dated May 27, 2009, introduced the Transitory Tax Regime, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">RTT,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in order to render neutral, from a tax perspective, all the changes provided by Law No. 11,638. Under the RTT, for tax purposes, legal entities should observe accounting methods and criteria that were effective on December 31, 2007.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Profits determined pursuant to Law No. 11,638, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IFRS Profits,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> may differ from the profits calculated pursuant to the accounting methods and criteria as effective on December 31, 2007, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2007 Profits.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> While it was general market practice to distribute exempted dividends with reference to the IFRS Profits, Rule No. 1,397, issued by the Brazilian tax authorities on September 16, 2013, established that legal entities should observe the 2007 Profits in order to determine the amount of profits that could be distributed as exempted income to their beneficiaries. Any profits paid in excess of such 2007 Profits, or Excess Dividends, should, in the tax authorities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> view and in the specific case of nonresident beneficiaries, be subject to the following rules of taxation: (1) 15.0% WHT, in case of beneficiaries domiciled abroad, but not in a Low or Nil Tax Jurisdiction, and (2) 25.0% WHT in the case of beneficiaries domiciled in a Low or Nil Tax Jurisdiction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In order to mitigate potential disputes on the subject, Law No. 12,973, dated May 13, 2014, or Law No. 12,973, in addition to revoking the RTT, introduced a new set of tax rules, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">New Brazilian Tax Regime,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> including new provisions with respect to excess dividends. Under these new provisions: (1) excess dividends related to profits assessed from 2008 to 2013 are exempt; (2) potential disputes remain concerning the excess dividends related to 2014 profits, since Law No. 12,973 has not expressly excluded those amounts from taxation and Rule No. 1,492, issued by the Brazilian tax authorities on September 17, 2014, established they are subject to taxation when distributed by companies which have not elected to apply the New Brazilian Tax Regime in 2014; and (3) as of 2015, as the New Brazilian Tax Regime is mandatory and has completely replaced the RTT, dividends calculated based on IFRS Profits should be considered fully exempt.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Finally, there is currently legislation pending before the Brazilian Congress discussing the taxation of dividends. It is not possible to predict if the taxation of dividends will be effectively approved by the Brazilian Congress and how such taxation would be implemented.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Distribution of Interest on Equity</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian corporations are allowed to make payments to shareholders of interest on shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity as an alternative to carrying out dividend distributions and treat those payments as a deductible expense for the purposes of calculating Brazilian corporate income tax and social contribution on net income.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For tax purposes, this interest is limited to the daily variation of the pro rata variation of the TJLP, as determined by the Central Bank from time to time as applied to certain equity accounts, and the amount of the distribution may not exceed the greater of:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">50% of net income (after the deduction of the social contribution on net income and before taking into account the provision for corporate income tax and the amounts attributable to shareholders as interest on shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity) for the period in respect of which the payment is made; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">50% of the sum of retained profits and profits reserves for the year prior to the year in respect of which the payment is made. Payments of interest on shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity to a Non-Resident Holder are subject to WHT at the rate of 15.0%, or 25.0% if the Non-Resident Holder is domiciled in a Low or Nil Tax Jurisdiction.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">These payments may be included, at their net value, as part of any mandatory dividend. To the extent that such payments are accounted for as part of the mandatory dividend, under current Brazilian law, we are obliged to distribute to shareholders an additional amount sufficient to ensure that the net amount received by the shareholders, after payment by us of applicable WHT, plus the amount of declared dividends, is at least equal to the mandatory dividend. The distribution of interest on shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity must be proposed by our board of directors and is subject to subsequent ratification by the shareholders at the relevant shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Dividend Payments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">April </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">29</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, our board of directors approved the distribution of dividends to shareholders in relation to the fis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> totaling R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">799.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million, corresponding to R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">42</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8110850</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> per common share, with</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> no</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> withholding</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> income tax</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> at source</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The dividends </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">are expected to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> be paid on May 20, 2022 to shareholders of record on May 5, 2022.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bsc_EL745Q3CAO00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">B. Significant Changes</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">None.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI9_8UTFQZS5F400000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 9. The Offer and Listing</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B9A_YUASS5SKNK00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">A. Offer and Listing Details</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our common shares became listed on the B3 and began trading under the symbol </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CSAN3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on November 18, 2005. Following the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Merger, our ADSs began trading on the NYSE under the symbol </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CSAN,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> on March 8, 2021. On </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, there were </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,868,617,585</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> common shares iss</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ued and outstanding (excluding </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,453,347</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> common shares held in treasury), out of which </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">66,218,978 (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">representing</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> 264,875,912 common shares)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> were ADSs outstanding, representing </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">14.17</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% of our total outstanding shares. On </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we had approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">88,597</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> shareholders, including approximately </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">223</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> registered U.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> resident holders of our common shares listed </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">on the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> B3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B9B_SLKT5YAVNK00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">B. Plan of Distribution</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B9C_334NVG4Z0W00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">C. Markets</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our common shares are listed on the B3 and trade under the symbol </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CSAN3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and our ADSs are listed on the NYSE and trade under the symbol </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CSAN.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> For further information, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 9. The Offer and Listing&#8212;A. Offer and Listing Details.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Trading on the S&#227;o Paulo Stock Exchange</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Settlement of transactions conducted on the S&#227;o Paulo Stock Exchange, or</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brasil, Bolsa. Balc&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">B3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) becomes effective two business days after the trade date. Delivery of, and payment for, shares is made through the facilities of separate clearinghouses for each exchange, which maintain accounts for member brokerage firms. The seller is ordinarily required to deliver the shares to the clearinghouse of the B3 on the second business day following the trade date.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In order to better control volatility, the B3 has adopted a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">circuit breaker</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> system pursuant to which trading sessions may be suspended for a period of 30 minutes or one hour whenever the indices of these stock exchanges fall below the limits of 10% and 15%, respectively, in relation to the index registered in the previous trading session.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian securities market is substantially smaller, less liquid, more concentrated and more volatile than major securities markets in the United States and other jurisdictions, and may be regulated differently from the ways familiar to U.S. investors. There is also significantly greater concentration in the Brazilian securities market than in major securities markets in the United States. Although any of the outstanding shares of a listed company may trade on a Brazilian stock exchange, in most cases fewer than half of the listed shares are actually available for trading by the public, the remainder being held by small groups of controlling persons, governmental entities or one principal shareholder.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Trading on the B3 by non-residents of Brazil is subject to certain limitations under Brazilian foreign investment and tax legislation See</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 10. Additional Information&#8212;E. Taxation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 10. Additional Information&#8212;D. Exchange Controls.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">S&#227;o Paulo Stock Exchange Corporate Governance Standards</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">T</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he B3 has three main listing segments:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Level 1;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Level 2; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Novo Mercado.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">These listing segments have been designed for the trading of shares issued by companies that voluntarily undertake to abide by corporate governance practices and disclosure requirements in addition to those already required under the Brazilian Corporation Law and the rules of the CVM. The inclusion of a company in any of these listing segments requires adherence to a series of corporate governance rules. These rules</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">are designed to increase shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> rights and enhance the quality of information provided by Brazilian corporations.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As our common shares are listed on the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> segment of the B3, in addition to the disclosure obligations imposed by the Brazilian Corporation Law and the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CVM, we also must comply with the following additional disclosure requirements set forth by the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rules:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">no later than six months following our listing on the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Novo Mercado, we must disclose financial statements and consolidated financial statements at the end of each quarter (except the last quarter of the year) and at the end of each fiscal year, including a statement of cash flows which must indicate, at a minimum, the changes in our cash and cash equivalents, divided into operating, financing and investing activities;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">from the date on which we release our financial statements relating to the second fiscal year following our listing on the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">we must, no later than four months after the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">end of the fiscal year: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">prepare our annual financial statements and consolidated financial statements, if applicable, in accordance with U.S. GAAP or IFRS, in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or U.S. dollars, in the En</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">glish language, together with (i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">management reports, (ii</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">notes to the financial statements, including information on net income and shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity calculated at the end of such fiscal year in accordance with Brazilian GAAP, as well as management proposals for allocation of net income, and (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">iii</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our independent </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">auditors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> report; or (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">disclose, in the English language, complete financial statements, management reports and notes to the financial statements, prepared in accordance with the Brazilian Co</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rporation Law, accompanied by (i</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an additional note regarding the reconciliation of year-end net income and shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity calculated in accordance with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian GAAP to U.S. GAAP or IFRS, as the case may be, which must include the main differences between the ac</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">counting principles used, and (ii</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the independent auditors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> report; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">from the date on which we release our first financial statement prepared as provided above, no more than 15 days following the term established by law for the publication of quarterly fi</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nancial information, we must: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">disclose, in its entirety, our quarterly financial information translated </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">into the English language or (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">disclose our financial statements and consolidated financial statements in accordance with Brazilian GAAP, U.S. GAAP or IFRS as provided above, accompanied by the independent auditors</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> report.</span></li>
</ul>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">No later than six months following the listing of our common shares on the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we must </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">disclose</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> the following information together with our ITR:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">our consolidated balance sheet, consolidated income statement and a discussion and analysis of our consolidated performance, if we are obliged to disclose consolidated financial statements at year-end;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">any direct or indirect ownership interest exceeding 5.0% of our capital stock, considering any ultimate individual beneficial owner;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the number and characteristics, on a consolidated basis, of our common shares held directly or indirectly by any controlling shareholders, members of our board of directors, board of executive officers and fiscal committee;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">changes in the numbers of our common shares held by any controlling shareholders, members of our board of directors, board of executive officers and fiscal committee in the immediately preceding 12 months;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">in an explanatory note, our statement of cash flows and consolidated statement of cash flows, which should indicate the cash flows changes in cash balance and cash equivalent, separated into operating, financing and investing activities; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">the number of free-float shares, and their percentage in relation to the total number of issued shares.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following information must also be included in our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">formul&#225;rio de refer&#234;ncia</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">within seven business days of the occurrence of the following events, among others:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">change in management or of an audit committee member;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">change in capital stock;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">issuance of new securities even if for private subscription;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">change in the rights of the securities issued;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">change in direct or indirect holdings by controlling shareholders or variations in their share positions equal to or greater than 5% of the same types or class of stocks of the issuer;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">when any natural or legal person, or a group of persons representing the same interest, has a direct or indirect share that is equal to or higher than 5% of the same type or class of stocks of the issuer, provided that the issuer is aware of such change;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">any change in the share position held by the persons mentioned in the two preceding items, in an amount greater than 5% of the same types or class of stocks of the issuer, provided that the issuer is aware of such change;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">merger, merger of shares, or spin-off;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">change in the projections or estimates or disclosure of new projections or estimates;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">execution, amendment or termination of a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> agreement filed at the company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s headquarters or to which the controlling shareholder is party that provides for the exercise of voting rights or the control of the company; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">bankruptcy, judicial recovery, liquidation, or court approval of an extrajudicial recovery.</span></li>
</ul>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">188</span></td>
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</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">All members of our board of directors, our board of executive officers and our fiscal council have signed a management compliance statement (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Termo de Anu&#234;ncia dos Administradores</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) under which they take personal responsibility for compliance with the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">listing agreement, the rules</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of the Market Arbitration Chamber and the regulations of the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Additionally, pursuant to the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rules, we must, by December</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10 of each year, publicly disclose and send to the B3 an annual calendar with a schedule of our corporate events. Any subsequent modification to such schedule must be immediately and publicly disclosed and sent to B3.&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B9D_NZM6NVIG8W00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">D. Selling Shareholders</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B9E_W55UJ1NJFK00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">E. Dilution</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B9F_VCV1EIIRDS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">F. Expenses of the Issue</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI10_NV9SXRZ9KW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 10. Additional Information</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BASC_V64MZK6EMO00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">A. Share Capital</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10B_PLP7ERSUDC00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">B. </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Memorandum and Articles of Association</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following is a summary of certain significant provisions of our by-laws (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">estatuto social</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), which are included as Exhibit 1.1 to this annual report. This description does not purport to be complete and is qualified by reference to the complete text of our by-laws and the applicable laws of Brazil. This summary should not be considered as legal advice regarding these matters. You are urged to carefully review our by-laws in their entirety as they, and not this description, will control your rights as a holder of our common shares. In this section, unless otherwise stated, references to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">we,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">us,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> refer solely Cosan S.A., excluding its subsidiaries.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">General</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> regulations, our capital stock must consist exclusively of common shares. Cosan is a corporation (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">sociedade an&#244;nima</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) of indefinite term incorporated under the laws of Brazil, having its registered office in the city of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S&#227;o Paulo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, state of S&#227;o Paulo, at Avenida Brigadeiro Faria Lima, 4,100 &#8211; 16th floor, room 1, Z</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IP</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Code 04538-132, Brazil,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">enrolled with the Brazilian taxpayers</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> registry (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Cadastro Nacional de Pessoas Jur&#237;dicas &#8212; CNPJ</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) under No. 50.746.577/0001-15. Cosan was incorporated on </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">July 8, 1966</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. Cosan is governed by the laws of Brazil, as well as by our by-laws</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Capital Stock</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As per Article 5 of our by</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">-laws, the capital stock of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan, fully subscribed </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and paid in, is of R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,402,543,550.97</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, divided into 1,874,070,932</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> registered common shares, with no par value. The capital stock of Cosan will be represented solely by common shares, and each common share will be entitled to one vote on the resolutions to be adopted by the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan is authorized to increase its capital stock, regardless of an amendment to our by-laws, in up to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">nine</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> billion </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,000,000,000.00), upon a resolution of its board of directors, which will establish the terms of issuance, including the price and payment. The board of directors may also approve the issuance of warrants (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">bonus de subscri&#231;&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) and convertible debentures, as well as capitalization of profits of reserves, whether or not by issuing bonus shares, within the limits of the authorized capital.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The board of directors of Cosan may grant stock purchase or subscription options, under the plan or programs approved at the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting, to the managers and employees of Cosan, as well as to managers and employees of other companies directly or indirectly controlled by Cosan, without preemptive rights to the shareholders at the time of either grant or exercise of such options, subject to the balance of the authorized capital limit at the time of exercise of subscription options, analyzed together with the balance of treasury shares at the time of exercise of purchase options.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Corporate Purpose</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As per Article 3 of the our by-laws, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our corporate purposes are to (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) import, export, produce and trade sugar, ethanol, sugarcane, and other sugar byproducts; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">distribute fuels in general and trade oil byproducts; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">establish fuel supply stations, purchase and sell oil-derived fuels and lubricants; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">provide logistics and port services, as well as technical, administrative and financial advisory services; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">any type of transportation of passengers and cargo, including inland navigation, river and lake ferries; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">produce and trade electricity, live steam, steam escape and other electricity co-generation byproducts; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">farming and livestock activities in proprietary or third-party-owned lands; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">(8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> import, export, handle, trade, produce, store, load or unload fertilizers an</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">d other agricultural inputs; (9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">manage on its own account or through third parties assets and property and may lease, receive and grant in partnership, rent and lease furnishings, properties and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">equipment in general; (10</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) render technical services related to the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> activities mentioned above; (11</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) hold equity inter</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">est in other companies; and (12</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) processing and trading of fuel gases.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The development of activities by the companies that Cosan holds direct or indirect interest in any type con</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">siders the following factors: (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the short- and long-term interests of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and its shareholders, and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the short and long-term economic, social, environmental and legal effects on its employees, suppliers, partners, clients and other creditors, as well as on the communities in which Cosan operates, both locally and globally.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Dividends</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our by-laws require that we distribute annually to our shareholders a mandatory minimum dividend, which we refer to as the mandatory dividend, equal to at least 25% of our net income after taxes, after certain deductions, including accumulated losses and any amounts allocated to employee and management participation, any amount allocated to our legal reserve, any amount allocated to our special reserve, any amount allocated to the contingency reserve and any amount written off with respect to the contingency reserve accumulated in previous fiscal years, in each case in accordance with Brazilian law.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">However, the Brazilian Corporation Law permits a company to suspend the mandatory distribution of dividends if its board of directors reports to the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting that the distribution would be incompatible with the financial condition of the company, subject to approval by the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting and review by the fiscal council. In addition, our management must submit a report to the CVM clarifying the reasoning for any such non-payment. Net income not distributed due to such a suspension must be attributed to a separate reserve and, if not absorbed by subsequent losses, must be paid as dividends as soon as the financial situation of the company permits.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The amounts available for distribution are determined on the basis of financial statements prepared in accordance with the requirements of the Brazilian Corporation Law. In addition, amounts arising from tax incentive benefits or rebates are appropriated to a separate capital reserve in accordance with the Brazilian Corporation Law. This investment incentive reserve is not normally available for distribution, although it can be used to absorb losses under certain circumstances, or be capitalized. Amounts appropriated to this reserve are not available for distribution as dividends.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian Corporation Law permits a company to pay interim dividends out of preexisting and accumulated profits for the preceding fiscal year or semester, based on financial statements approved by its shareholders. We may prepare financial statements semiannually or for shorter periods. Our board of directors may declare a distribution of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">dividends based on the profits reported in semiannual financial statements. Our board of directors may also declare a distribution of interim dividends or interest based on profits previously accumulated or in profits reserve, which are reported in such financial statements or in the last annual financial statement approved by resolution taken at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. The board of directors may also declare dividends based on financial statements prepared for interim periods; </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">provided</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> that the total amount of dividends paid in each semester does not exceed the amounts accounted for in our capital reserve account set forth in paragraph 1 of Article 182 of the Brazilian Corporation Law and any dividends that fail to be claimed within a period of three (3) years will revert to Cosan.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In general, Non-Resident Holders must register their equity investment with the Brazilian Central Bank to have dividends, sales proceeds or other amounts with respect to their shares eligible to be remitted outside of Brazil. The common shares underlying the Cosan ADSs are held in Brazil by the custodian, as agent for the Depositary, which is the registered owner on the records of the registrar for our shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of cash dividends and distributions, if any, are made in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to the custodian on behalf of the Depositary, which then converts such proceeds into U.S. Dollars and causes such U.S. Dollars to be delivered to the Depositary for distribution to holders of Cosan ADSs. In the event that the custodian is unable to convert immediately the foreign currency received as dividends into U.S. dollars, the amount of U.S. dollars payable to holders of Cosan ADSs may be adversely affected by devaluations of the Brazilian currency that occur before the dividends are converted. Under the Brazilian Corporation Law, dividends paid to Non-Resident Holders will not be subject to Brazilian withholding tax; however, it is not clear under Brazilian law whether such withholding income tax exemption is also applicable to dividends distributed to holders of Cosan ADSs abroad.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian law allows the payment of dividends solely in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> limited to the unappropriated retained earnings in our financial statements prepared in accordance with IFRS.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Rights of Holders of Common Shares</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Each of our common shares entitles its holder to one vote </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">per common share </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">at our annual or extraordinary general shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">assembleia geral ordin&#225;ria or assembleia geral extraordin&#225;ria</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">). Pursuant to our by-laws and its B3 listing agreement in connection with the listing of the common shares on the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we cannot issue shares without voting rights or with restricted voting rights. As long as we are listed on the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, we may not issue preferred shares. In addition, our by-laws and the Brazilian Corporation Law provide that holders of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> are entitled to dividends or other distributions made in respect of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in accordance with their respective participation in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan&#8217;s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">capital. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Dividends.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> In addition, in the event of our liquidation and following the payment of all our outstanding liabilities, holders of&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> are entitled to receive their </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">pro rata</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">interest in any remaining assets, in accordance with their respective participation in our capital. The shareholders have preemptive rights to subscribe for new shares issued by us, pursuant to the Brazilian Corporation Law, but are not obligated to subscribe for future capital increases.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Novo Mercado R</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ules</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and the Brazilian Corporation Law</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> have tag-along rights which enable their holders, upon the sale of a controlling interest in us, to receive in exchange for their shares 100% of the price paid per common share for the controlling block.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, neither our by-laws nor actions taken at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting may deprive a shareholder of: (1) the right to participate in the distribution of net income; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the right to participate equally and proportionally in any residual assets in the event of liquidation of our company; (3) preemptive rights in the event of issuance of new shares, convertible debentures or subscription warrants, except in some specific circumstances under the Brazilian Corporation Law; (4) the right to hold our management accountable in accordance with the provisions of the Brazilian Corporation Law; and (5) the right to withdraw from us in the cases specified in the Brazilian Corporation Law, including merger or consolidation, which are described in </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Right of Withdrawal</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Redemption.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Neither our by-laws, nor the Brazilian Corporation Law, contain any restriction on voting by Non-Resident Holders of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to our by-laws, every shareholder, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">g</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">roup of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">hareholders or holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of ADSs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">that holds, acquires or becomes the owner, directl</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">y or indirectly, of 2.5%, 5.0%, 7.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5% or 10</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.0</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">% (and successively</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> upon 2.5% increments</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or more of the total shares of our capital stock, is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">required</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to inform us </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">of the total amount of shares, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or rights of shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> owned.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Public Tender Offer upon Sale of Control</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The direct or indirect disposal of controlling interest in Cosan in a single transaction or series of successive transactions must be agreed upon under a condition that the acquirer will make a tender offer to purchase the shares issued by Cosan and owned by the remaining shareholders, subject to the terms of, and within the time limits prescribed by, prevailing regulation and legislation and the Novo Mercado Regulation, so that the holders of such remaining shares may receive the same treatment as accorded to the seller pursuant to Article 254-A of the Brazilian Corporation Law and Articles 37 and 38 of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Rules and Article 3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of our by-laws.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our By-Laws contain a provision stating that any shareholder that acquires or becomes the owner, directly or indirectly, of our capital stock corresponding to 10%, until January 31, 2028, and 15% as from February 1, 2028, or more of the total shares of our capital stock, whether by means of a single transaction or through several transactions, must make or apply for registration of, as the case may be, a tender offer to purchase all shares of our capital stock of Cosan, subject to the provisions of the applicable regulations issued by the CVM and Novo Mercado Regulation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and Article 37 of our by-laws</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Allocation of Net Income</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Together with the financial statements for the fiscal year, the board of directors will submit to the Annual Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Meeting the proposed allocation of net income, in compliance with the provisions of law and Cosan By-Laws.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders will be entitled to receive as dividends each year a mandatory minimum percentage of twenty five percent (25%). Pursuant to Brazilian Corporation Law, our net income may be allocated to income reserves and to the distribution of dividends. For purposes of Brazilian Corporation Law, net income is defined as a period</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s result minus accumulated losses from previous years, income and social contribution tax provisions and any other amounts allocated for the payment of profit sharing authorized in our bylaws to employees and management</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under the Brazilian Corporation Law, payment of the mandatory dividend is not required if the board of directors has formally declared such distribution to be inadvisable in view of our financial condition and has provided the shareholders at the annual general shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting with an opinion to that effect, which has been reviewed by our fiscal council. In addition, our management must submit a report to the CVM within five days following said meeting clarifying the reasoning for any such non-payment. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Dividends.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Preemptive Rights</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our shareholders have a general preemptive right to subscribe for our shares in any capital increase of the same class of shares owned by them, pro rata to their interest in our capital stock at the time of the capital increase, except in the event of a grant or assignment of any option to acquire or subscribe to our common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">While our shareholders also have preemptive rights to subscribe for convertible debentures and subscription warrants, no preemptive rights apply to actual conversions of debentures, acquisitions of common shares from subscription of warrants and the offer and exercise of call options. In accordance with Brazilian Corporation Law, a period of at least 30 days following the publication of a notice of issuance of shares, convertible debentures or subscription warrants is granted for the exercise of preemptive rights, which rights may be transferred or disposed of for value. However, in accordance with Article 172 of Brazilian Corporation Law, our board of directors may refuse the granting of preemptive rights, or reduce the exercise period, with respect to the issue of new shares, convertible debentures and subscription warrants, up to the maximum limit of our authorized capital stock, if the placement of those shares, debentures or warrants occurs through a stock exchange sale or a public offering, in a public tender offer, with the objective of acquiring control of another company.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our shareholders are not entitled to preemptive rights to subscribe our shares or our subscription bonus issued and placed through the trade on a stock exchange or a public subscription or the acquisition of shares made in the context of a public offer for acquisition of control.</span></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Arbitration</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In accordance with the regulations of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and our by-laws, Cosan, its shareholders, executive officers, directors and fiscal council members are required to resolve through arbitration any disputes or controversies, including those related to or arising out of the application, validity, effectiveness, interpretation and violation, among others, of the provisions of the Brazilian Corporation Law, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Law No. 6,385/76, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our by-laws, the rules published by the CMN, the Brazilian Central Bank, the CVM and other rules applicable to the Brazilian capital markets in general, as well as those set forth in the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Listing Regulations, in the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Listing Agreement and in other rules issued by the B3, and such arbitration is the exclusive means to settle such disputes with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan&#8217;s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shareholders. As the holders of Cosan ADSs are not direct shareholders of Cosan, these arbitration requirements do not apply to such Cosan ADS holders; however, because the Depositary is a holder of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, it would be bound by these mandatory arbitration provisions if it sought to exercise remedies against Cosan under Brazilian law.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Liquidation</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan shall be liquidated upon the occurrence of certain events provided for in the Brazilian Corporation Law, whereupon a meeting of the shareholders shall determine the form of liquidation, electing the liquidator(s) and the members of our fiscal council, which must operate on a mandatory basis during the liquidation period.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Redemption</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">According to the Brazilian Corporation Law, we may redeem </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> subject to the approval of our shareholders at an extraordinary shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting where shareholders representing at least 50% of the shares that would be affected are present. The share redemption may be paid with our retained earnings, income reserves or capital reserves, with the exception of the legal reserve.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If the share redemption is not applicable to all shares, the redemption will be made by lottery. If custody shares are picked in the lottery and there are no rules established in the custody agreement, the financial institution will specify, on a pro rata basis, the shares to be redeemed.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Right of Withdrawal</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian Corporation Law provides that, in case any of our shareholders dissent from certain decisions taken at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting, they have the right to withdraw its equity interest from the company and to receive payment for the portion of shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> equity attributable to its equity interest.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to Brazilian Corporation Law, shareholder withdrawal rights may be exercised under the following circumstances, among others:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to reduce the mandatory distribution of dividends;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to merge with another company (including if Cosan is merged into one of its controlling companies) or to consolidate, except as described in the fourth paragraph following this list;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to approve our participation in a centralized group of companies, as defined under Article 265 of the Brazilian Corporation Law, and subject to the conditions set forth therein, except as described in the fourth paragraph following this list;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to change our corporate purpose;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to terminate a state of liquidation of the corporation;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to dissolve the corporation; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to transfer all of our shares to another company or in order to make us a wholly owned subsidiary of such company, known as a merger of shares (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">incorpora&#231;&#227;o de a&#231;&#245;es)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, except as described in the fourth paragraph following this list;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to acquire the totality of shares of another company through a merger of shares (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">incorpora&#231;&#227;o de a&#231;&#245;es)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, except as described in the fourth paragraph following this list;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to approve the acquisition of control of another company at a price which exceeds certain limits set forth in the Brazilian Corporation Law, except as described in the fourth paragraph following this list; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to conduct a spin-off that results in (a) a change of our corporate purpose, except if the assets and liabilities of the spin-off company are contributed to a company that is engaged in substantially the same activities, (b) a reduction in the mandatory dividend or (c) any participation in a centralized group of companies, as defined under the Brazilian Corporation Law.</span></li>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, in the event that the entity resulting from </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">incorpora&#231;&#227;o de a&#231;&#245;es</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or a merger of shares, a consolidation or a spin-off of a listed company fails to become a listed company within 120 days of the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting at which such decision was taken, the dissenting or non-voting shareholders may also exercise their withdrawal rights.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Only holders of shares adversely affected by the changes mentioned in the first and second items above may withdraw their shares. The right of withdrawal lapses 30 days after publication of the minutes of the relevant shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. We would be entitled to reconsider any action giving rise to withdrawal rights within 10 days following the expiration of such rights if the withdrawal of shares of dissenting shareholders would jeopardize </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan&#8217;s </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">financial condition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Brazilian Corporation Law allows companies to redeem their shares at their economic value, subject to certain requirements. Since our by-laws currently do not provide that our shares be subject to withdrawal at their economic value, our shares would be subject to withdrawal at their book value, determined on the basis of the last balance sheet approved by the shareholders. If the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting giving rise to withdrawal rights occurs more than 60 days after the date of the last approved balance sheet, a shareholder may demand that its shares be valued on the basis of a new balance sheet that is of a date within 60 days of such shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. In this case, Cosan must immediately pay 80% of the net worth of the shares, calculated on the basis of the most recent statement of financial position approved by its shareholders, and the balance must be paid within 120 days after the date of the resolution of the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, in events of consolidation, merger, incorpora&#231;&#227;o de a&#231;&#245;es, participation in a group of companies, and acquisition of control of another company, the right to withdraw does not apply if the shares meet certain tests relating to liquidity and dispersal of the type or class of shares on the market (they are part of the B3 Index or other stock exchange index (as defined by the CVM)). In such cases, shareholders will not be entitled to withdraw their shares if the shares are a component of a general securities index in Brazil or abroad admitted to trading on the securities markets, as defined by the CVM, and the shares held by persons unaffiliated with the controlling shareholder represent more than half of the outstanding shares of the relevant type or class.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Registration of Shares</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> are held in book-entry form with Ita&#250; Corretora de Valores S.A. Transfer of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> is carried out through a debit entry on the seller</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s account and a credit entry on the purchaser</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s account upon (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) written request of the seller; or (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) judicial order or authorization.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Form and Transfer</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Because the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> are in registered book-entry form, the transfer of shares is made under Article 35 of the Brazilian Corporation Law, which determines that a transfer of shares is effected by an entry made by the registrar, by debiting the share account of the transferor and crediting the share account of the transferee. Ita&#250; Corretora de Valores S.A. performs safe-keeping, share transfer and other related services for us.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Transfers of shares by a foreign investor are made in the same way and executed by that investor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s local agent on the investor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s behalf except that, if the original investment was registered with the Brazilian Central Bank, pursuant to Resolution No. 4,373/2014 of the Brazilian Central Bank, the foreign investor, through its local agent, should also seek amendment, if necessary, of the electronic certificate of registration to reflect the new ownership.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The B3 operates a central clearing system (the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Central Deposit&#225;ria</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of the B3). A holder of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> may choose, at its discretion, to hold our common shares through this system and all shares elected to be put into the system will be deposited in custody with the relevant stock exchange (through a Brazilian institution duly authorized to operate by the Brazilian Central Bank having a clearing account with the relevant stock exchange). The fact that those shares are subject to custody with the relevant stock exchange will be reflected in our register of shareholders. Each participating shareholder will, in turn, be registered in our register of beneficial shareholders maintained by the relevant stock exchange and will be treated in the same way as a registered shareholder.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Meetings</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, our shareholders are generally empowered to take any action relating to our corporate purposes and to pass resolutions that they deem necessary. Shareholders at our annual general shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting, which is required to be held within the first four months of the end of each year, have the exclusive right to approve our audited financial statements and our management accounts, as well as to determine the allocation of our net income and the distribution of dividends with respect to the fiscal year ended immediately prior to the date of the relevant sha</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">reholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. Generally (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the installation of the fiscal council </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and election of its members, (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the election of the members o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">f our board of directors and (3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the determination of the annual compensation of our executive officers, board of directors and fiscal council are approved in the annual shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting, but such matters may also be approved at extraordinary shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">An extraordinary shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting may be held at any time during the year, including concurrently with the annual shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. The following matters, among others, may be resolved only at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">amendment of our by-laws;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">election and dismissal of the members of our board of directors and fiscal council, whenever requested by our shareholders;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of management accounts and of our audited financial statements on a yearly basis;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">authorization of issuance of debentures by us, except for issuances which our board of directors has been authorized to decide pursuant to a previous decision of our shareholders;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">suspension of the exercise of a shareholder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s rights in the event of noncompliance with the Brazilian Corporation Law or our by-laws;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of valuation reports of assets offered by a shareholder to us as payment for the subscription of shares of our capital stock;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of issuance of shares in excess of the limit of our authorized capital;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">determination of the annual compensation of our executive officers, board of directors and fiscal council;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of any transaction involving our transformation into a limited liability company, consolidation, merger or spin-off;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of any transaction involving our dissolution or liquidation, the appointment and dismissal of the respective liquidator and the official review of the reports prepared by it;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">authorization to delist from B3 </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and to become a private company, as well as to retain a specialist firm to prepare a valuation report with respect to the value of our common shares, in such event;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">authorization to our directors and officers to petition for bankruptcy or file a request for judicial or extrajudicial restructuring;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of stock option plans for managers and employees of Cosan and companies directly or indirectly controlled by Cosan, excluding shareholder preemptive rights; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approval of any stock splits or reverse stock splits.</span></li>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Quorum</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a general rule, the Brazilian Corporation Law provides that the quorum for purposes of a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting consists of the presence of shareholders representing at least 25% of our issued and outstanding shares on first call, and, if that quorum is not reached, any percentage on second call. If our shareholders meet to amend our by-laws, a supermajority quorum of shareholders representing at least two-thirds of our issued and outstanding shares shall be required on first call, and any percentage will be sufficient on second call.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A shareholder may be represented in a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting by an attorney-in-fact appointed no more than one year prior to the date of the relevant shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting. The attorney-in-fact must be a shareholder, director or executive officer of Cosan, a lawyer or a financial institution registered by their manager.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Generally, the affirmative vote of shareholders representing at least the majority of our issued and outstanding shares present in person, or represented by proxy, at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting is required to approve any proposed action, with abstentions not taken into account. Exceptionally, according to the Brazilian Corporation Law, the affirmative vote of shareholders representing not less than one-half of our issued and outstanding shares is required to, among other measures:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">reduce the percentage of mandatory dividends;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">change our corporate purpose;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">consolidate with or merge us into another company;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">engage in a spin-off transaction;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approve our participation in a group of companies (as defined in the Brazilian Corporation Law);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">apply for cancellation of any voluntary liquidation;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approve our dissolution; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">approve the merger of all of our common shares into another Brazilian company.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Location of a Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Meeting</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings take place at our headquarters in the city of S&#227;o Paulo, state of S&#227;o Paulo, Brazil. The Brazilian Corporation Law allows our shareholders to hold meetings in another location in the event of a force majeure, provided that the meetings are held in the city of S&#227;o Paulo and the relevant notice includes a clear indication of the place where the meeting will occur. All information relating to shareholder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings will be available (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) at our headquarters, in the City of S&#227;o Paulo, State of S&#227;o Paulo, at Avenida Brigadeiro Faria Lima, 4,100, 16</span><span style="font-family: 'Times New Roman'; font-size: 6.67pt; vertical-align: super;">th</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> f</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">loor, ZIP Code 04538-132 and (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) on the internet at our website (https://ri.cosan.com.br/en/), the website of the CVM (www.cvm.gov.br), and the website of B3 (www.b3.com.br). The information included on these websites does not form part of this annual report and is not incorporated by reference herein.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Who May Call a Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Meeting</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meetings may be called by our board of directors and by:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">any shareholder, if our board of directors fails to call a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting within 60 days after the date it is required to do so under applicable law and our by-laws;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">shareholders holding at least five percent of our capital stock, if our board of directors fails to call a meeting within eight days after receipt of a justified request to call the meeting by those shareholders indicating the proposed agenda;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">shareholders holding at least five percent of our capital stock if our board of directors fails to call a meeting within eight days after receipt of a request to call the meeting for the creation of the fiscal council; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">our fiscal council, if one is created, if the board of directors fails to call an annual shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting within one month after the date it is required to do so under applicable law and our by-laws, or if the fiscal council believes that there are important or urgent matters to be addressed.</span></li>
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<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Notice of a Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Meeting</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">All notices of general meetings must be published at least </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">three times </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in any newspaper widely circulated, which, in our case, is the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Folha de S&#227;o Paulo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The notice must include, in addition to the place, date and time, the agenda of the meeting and, in the case of a proposed amendment to our by-laws, a description of the subject matter of the proposed amendment</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Conditions of Admission to our Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> Meeting</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In order to attend a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting and exercise their voting rights shareholders must</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, within two</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> days prior to the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> prove their status as shareholders and their ownership of by presenting his or her identity card/organizational documents and proof of power of attorney, if applicable, and proof of deposit issued by the financial institution responsible for the bookkeeping of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A shareholder may be represented at a shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting by a proxy, appointed less than one year before the meeting, who must be one of our shareholders, or one of our officers or directors, a lawyer or a financial institution represented by their manager.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Delisting from the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Novo Mercado</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">At any time, Cosan may decide to delist its common shares from the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. In order to delist its common shares from the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Cosan (or its controlling shareholders) would be required to first launch a public tender offer through which Cosan or the controlling shareholders would acquire the free float shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Delisting TO</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221; The Delisting TO must comply with the applicable rules of the CVM </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">85</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, dated March</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2, as amended or &#8220;CVM </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">85</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221; and (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) have a &#8220;fair price</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> according to the Brazilian Corporation Law; and (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) be approved by the holders of more than 1/3 of the outstanding free float shares. However, the Delisting TO requirement can be waived so long as holders of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2/3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of the free float shares approve such waiver. Our delisting from the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">will not necessarily result in the loss of its registration as a public company on the B3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If Cosan delists from </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">due a corporate rest</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ructuring transaction, either (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) the surviving company must submit the application for listing on the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">within 120 days after the date of the shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> meeting that approved such corporate </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">restructuring transaction or (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) if the resulting companies do not wish to be listed on the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the majority of the holders of the outstanding free float shares must approve such corporate restructuring transaction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In certain circumstances, Cosan (or its controlling shareholders) could be required under the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> rules to launch a Delisting TO. </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> regulation stipulates that the compulsory delisting from </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Novo Mercado</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> will be applied only in the event Cosan has violated Novo Mercado listing rules for a period of more than nine months.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under CVM rules, if the offeror in a Delisting TO (the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Delisting TO Offeror</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) subsequent transfers shareholding control within the 12-month period following the occurrence of a Delisting TO, the Delisting TO Offeror must pay to the former shareholders that tendered their shares in the Delisting TO (the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Delisting TO Former Shareholders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), on a </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">pro rata </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">basis, the difference, if any, between the tender offer price paid to the Delisting TO Former Shareholders and the price the Delisting TO Offeror received in such subsequent transfer.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Purchases of Our Common Shares for Treasury</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to CVM </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7, dated </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">March</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">29</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">22</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or &#8220;CVM </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7,&#8221; the purchase or sale by us of our own shares requires shareholders&#8217; approval in the event that the transaction</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">takes place outside a stock exchange or over-the-counter market, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">involves more than 5.0% of the outstanding shares of a certain type or class, and is performed within an 18-month period;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">takes place outside a stock exchange or over-the-counter market and at prices that are 10.0% higher with respect to purchases, and 10.0% lower, with respect to sales, than the price of our shares quoted on the relevant stock exchange;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">aims to change or prevent a change in our controlling shareholding or administrative structure; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">takes place outside a stock exchange or over-the-counter market and the counterpart is a related party.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Subject to certain conditions described in CVM </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">77</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, our shareholders&#8217; approval is not required for the purchase or sale by us of our own shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">where the counterparty is a member of our board of directors, our officer, employee or supplier in the context of exercise of stock options granted under a stock option plan (or other similar plans); or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the context of a secondary public offering of treasury shares (or securities convertible or exchangeable into treasury shares).</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We may acquire our own shares to be held in treasury, sold or canceled, pursuant to a resolution of our board of directors or our shareholders, as applicable. We may not acquire our shares, hold them in treasury or cancel them in the event that such transaction:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">targets shares owned by our controlling shareholders;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">takes place on organized securities markets at prices higher than market price;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">is concurrent with a public offering for the acquisition of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, pursuant to the applicable securities regulations; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">requires funds greater than those currently available to us.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In order to authorize the purchase of our own shares, our board of directors or our shareholders (through a resolution approved at a shareholders meeting) must specify the purpose of the transaction, the maximum number of shares to be acquired, the total number of our outstanding shares and the maximum period of time to effect such purchase (not exceeding 18 months), among other information required by CVM </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Policy for the Trading of Our Securities by Us and Its Controlling Shareholder (If Any), Directors and Officers</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">CVM Resolution No. 44, dated August 23, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CVM Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">No. 44</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> establishes that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">insiders</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> must abstain from trading our securities, including derivatives backed by or linked to our securities, prior to our disclosure of material information to the market.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following persons are considered insiders for purposes of CVM Resolution</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">No. 44: we, any person who negotiated any of our securities and made use of any relevant nondisclosed information acquired, our controlling shareholder (if any), members of our board of directors, executive officers, members of our fiscal council and whoever by virtue of its title, duty or position in our company, our controlling shareholder, controlled companies or affiliates has knowledge of a material fact and is aware that such fact has not been disclosed to the market, including auditors, analysts, underwriters and advisors.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Such restriction on trading also applies:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to any of our former officers, members of our board of directors or our fiscal council for a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">three</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">-month period, if any such officer, director or member of the fiscal council left our company prior to the disclosure of material information he/she was aware of while in office;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">in the event that we intend to acquire another company, consolidate, spin off part or all of our assets, merge, transform, or reorganize;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to us, in connection with or for the transfer of our control, or in the event that an option or mandate to such effect has been granted</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, and any other </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">negotiation </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">involving our securities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">to our direct and indirect controlling shareholders, their officers and members of their board of directors, whenever we, any of our subsidiaries or affiliates are in the process of purchasing or selling </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or have granted stock options over </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or if a mandate for such purposes has been granted; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">during the 15-day period preceding the disclosure of our quarterly information (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">informa&#231;&#245;es trimestrais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) or our standardized financial statements (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">demonstra&#231;&#245;es financeiras padronizadas</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), which is a standard form report containing relevant financial information derived from our financial statements that we are required to file with the CVM.&#160;&#160;</span></li>
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<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10C_KGFN3QSRPS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">C. Material Contracts</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On January 22, 2021, we entered into a Merger and Justification Protocol governed by Brazilian law and a Deed of Merger governed by Bermuda law with Cosan Limited pursuant to which we agreed that Cosan Limited would merge with and into us. In addition, on December 17, 2020, we entered into a Merger and Justification Protocol governed by Brazilian law with Cosan Log&#237;stica pursuant to which Cosan Log&#237;stica merged with and into us. The mergers of Cosan Limited and Cosan Log&#237;stica with and into us were completed in the first quarter of 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On December 1, 2021, we entered into a Merger and Justification Protocol governed by Brazilian law with </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">CIP </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">pursuant to which CIP merged with and into us. The merger was completed in the fo</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">u</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rth quarter of 2021.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10D_C1D8JXGL5S00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">D. Exchange Controls</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Investors who are non-residents in Brazil must register their investment in shares under Law No. 4,131, or CMN Resolution No. 4,373, and CVM Resolution No. 13 of November 18, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">CMN Resolution No. 4,373 affords favorable tax treatment to foreign investors who are not residents in a low or nil tax jurisdiction, as defined by Brazilian tax laws (please refer to the section </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 10. Additional Information&#8212;E. Taxation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for further discussion on the concept of a low or nil tax jurisdiction under Brazilian law).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under CMN Resolution No. 4,373, investors who are non-residents in Brazil may invest in almost all financial assets and engage in almost all transactions available in the Brazilian financial and capital markets, provided that certain requirements are met. CMN Resolution No. 4,373 covers investors who are individuals, companies, mutual funds and other collective investment entities domiciled or headquartered outside of Brazil. Under CMN Resolution No. 4,373, an investor under this category must:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">appoint one or more representatives in Brazil, which must be a financial institution duly authorized by the Brazilian Central Bank to receive service of process related to any action regarding financial and capital markets legislation, among others;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">obtain a taxpayer identification number from the Brazilian tax authorities;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">appoint one or more authorized custodians in Brazil for its investments, who must be duly authorized by the CVM; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">through its representative or representatives, register as a foreign investor with the CVM and register its investments with the Brazilian Central Bank.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, an investor operating under the provisions of CMN Resolution No. 4,373 must be registered with the Brazilian internal revenue service pursuant to its Normative Ruling No. 1,863/2018. This registration process is undertaken by the investor</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s legal representative in Brazil.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Securities and other financial assets held by non-Brazilian investors pursuant to CMN Resolution No. 4,373 must be registered or maintained in deposit accounts or under the custody of an entity duly licensed by the Brazilian Central Bank or the CVM. In addition, securities trading is restricted to transactions carried out in the stock exchanges or through organized over-the-counter markets licensed by the CVM, except for transfers resulting from a corporate reorganization, or occurring upon the death of an investor by operation of law or will.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Non-Brazilian investors may also invest directly under Law No. 4,131 and may sell their shares in both private and open market transactions, but these investors are subject to less favorable tax treatment on gains than Resolution No. 4,373 investors. A non-Brazilian direct investor under Law No. 4,131 must:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">register as a foreign direct investor with the Brazilian Central Bank;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">obtain a Brazilian identification number from the Brazilian tax authorities;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">appoint a tax representative in Brazil; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">appoint a representative in Brazil for service of process in respect of suits based on the Brazilian Corporation Law.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If a holder of ADSs decides to exchange ADSs for the underlying common shares, t</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">he holder will be entitled to (1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) sell the common shares on the B3 and rely on the depositary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s electronic registration for five business days from the date of exchange to obtain and remit U.S. dollars abroad upon the holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s sale of our common shares, (2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) convert its investment into a foreign portfolio investment under of CMN Resolution No. 4,373, or (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) convert its investment into a foreign direct investment under Law No. 4,131.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If a holder of ADSs wishes to convert their investment into either an foreign portfolio investment under of CMN Resolution No. 4,373 or a foreign direct investment under Law No. 4,131, they should begin the process of obtaining foreign investor registration with the Brazilian Central Bank or with the CVM as the case may be, in advance of exchanging the ADSs for common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The custodian is authorized to update the depositary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s electronic registration to reflect conversions of ADSs into foreign portfolio investments under CMN Resolution No. 4,373. If a holder of ADSs elects to convert their ADSs into a foreign direct investment under Law No. 4,131, the conversion will be effected by the Brazilian Central Bank after receipt of an electronic request from the custodian with details of the transaction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If a foreign direct investor under Law No. 4,131 wishes to deposit their shares into the ADR program in exchange for ADSs, such holder will be required to present to the custodian evidence of payment of capital gains taxes. The conversion will be effected by the Brazilian Central Bank after receipt of an electronic request from the custodian with details of the transaction. Please refer to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 10. Additional Information&#8212;E. Taxation</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for a description of the tax consequences to an investor residing outside Brazil of investing in our common shares in Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For additional information on Brazilian tax consequences of investing in our common shares, see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 10. Additional Information&#8212;E. Taxation.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10E_G5AR8RD9BK00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">E. Taxation</span></a></div>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">U.S. Federal Income Tax Considerations</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following is a description of the material U.S. federal income tax consequences of owning and disposing of our common shares or ADSs. It does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a particular person</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s decision to hold the securities. This discussion applies to you only if you are a U.S. Holder (as defined below) that holds our common shares or ADSs as capital assets for U.S. federal income tax purposes.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">This discussion does not describe all of the tax consequences that may be relevant to you in light of your particular circumstances, including alternative minimum tax consequences, the potential application of the provisions of the Internal Revenue Code of 1986, as amended, or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Code,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> known as the Medicare contribution tax and differing tax consequences applicable to you if you are, for instance:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a financial institution;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a regulated investment company;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a dealer or electing trader in securities that uses a mark-to-market method of tax accounting;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">holding our common shares </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or ADSs </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as part of a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">straddle,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> integrated transaction or similar transaction;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a person whose functional currency for U.S. federal income tax purposes is not the U.S. dollar;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a partnership for U.S. federal income tax purposes;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a tax-exempt entity; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a person that owns or is deemed to own 10% or more of our stock (by vote or value);</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If you are a partnership for U.S. federal income tax purposes holding our common shares or ADSs, the U.S. federal income tax treatment of your partners will generally depend on the status of the partners and the activities of your partnership. Partnerships holding our common shares or ADSs and partners in such partnerships should consult their tax advisers as to the particular U.S. federal income tax consequences of holding and disposing of our common shares or ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">This discussion is based on the Code, administrative pronouncements, judicial decisions and final, temporary and proposed Treasury regulations, all as of the date hereof, any of which is subject to change, possibly with retroactive effect. Please consult your tax adviser concerning the U.S. federal, state and local and non-U.S. tax consequences of owning and disposing of our common shares or ADSs in your particular circumstances.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As used herein, the term </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> means a beneficial owner of our common shares or ADSs that is, for U.S. federal income tax purposes:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a citizen or individual resident of the United States;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a corporation, or other entity taxable as a corporation, created or organized in or under the laws of the United States or any state therein or the District of Columbia; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source.</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In general, if you own ADSs, you will be treated as the owner of the underlying shares represented by those ADSs for U.S. federal income tax purposes. Accordingly, no gain or loss will be recognized if you exchange ADSs for the underlying shares represented by those ADSs.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">This discussion generally assumes that we are not, and will not become, a passive foreign investment company, as described below.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Taxation of Distributions</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Distributions paid on our common shares or ADSs (including distributions that are treated as interest on equity for Brazilian tax purposes, as discussed below under </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian Tax Considerations</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), other than certain </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">pro rata</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> distributions of common shares or ADSs, will be treated as dividends to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). Because we do not expect to determine our earnings and profits in accordance with U.S. federal income tax principles, you should expect that a distribution will generally be reported as a dividend. Dividends paid by qualified foreign corporations to certain non-corporate U.S. Holders are taxable at rates applicable to long-term capital gains. A foreign corporation is treated as a qualified foreign corporation with respect to dividends paid on stock that is readily tradable on a securities market in the United States, such as the NYSE (where our ADSs are traded). It is unclear whether these reduced rates will apply to dividends paid with respect to our common shares that are not represented by ADSs. You should consult your tax adviser to determine whether these preferential rates will apply to dividends you receive and whether you are subject to any special rules that limit your ability to be taxed at these preferential rates. </span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The amount of a dividend will include any amounts withheld in respect of Brazilian taxes on the distribution. The amount of the dividend will be treated as foreign-source dividend income to you and will not be eligible for the dividends-received deduction generally allowed to U.S. corporations under the Code. Dividends will be included in your income on the date of your or, in the case of ADSs, the depositary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s, receipt of the dividend. The amount of any dividend income paid in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">will be the U.S. dollar amount calculated by reference to the exchange rate in effect on the date of such receipt regardless of whether the payment is in fact converted into U.S. dollars. If the dividend is converted into U.S. dollars on the date of receipt, you generally should not be required to recognize foreign currency gain or loss in respect of the dividend income. You may have foreign currency gain or loss if the dividend is converted into U.S. dollars after the date of its receipt.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Sale or Other Disposition of Common Shares or ADSs</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For U.S. federal income tax purposes, gain or loss you realize on the sale or other disposition of our common shares or ADSs will be capital gain or loss, and will be long-term capital gain or loss if you held those shares or ADSs for more than one year at the time of disposition. The amount of gain or loss will be equal to the difference between your tax basis in the common shares or ADSs disposed of and the amount realized on the disposition. The gain or loss will generally be U.S.-source gain or loss for foreign tax credit purposes.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">If a Brazilian tax is withheld on the sale or other disposition of common shares or ADSs, your amount realized will include the gross amount of the proceeds of such sale or other disposition before deduction of the Brazilian tax.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian Tax Considerations&#8212;Income Tax&#8212;Capital Gains</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for a description of when a disposition may be subject to taxation by Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Foreign Tax Credits in Respect of Brazilian Taxes</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Subject to applicable limitations that may vary depending upon your circumstances, Brazilian income taxes withheld from dividends on our common shares or ADSs generally will be creditable against your U.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S. federal income tax liability, if such taxes were paid or accrued in a taxable year beginning before December 28, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">You will be entitled to use foreign tax credits to offset only the portion of your U.S. tax liability that is attributable to foreign-source income. This limitation on foreign taxes eligible for credit is calculated separately with regard to specific classes of income. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, you must satisfy minimum holding period requirements in order to be eligible to claim a foreign tax credit for foreign taxes withheld on dividends. Recently issued Treasury regulations, which apply to foreign taxes paid or accrued in taxable years beginning on or after December 28, 2021 (the &#8220;Final Treasury Regulations&#8221;), impose additional requirements for foreign taxes to be eligible for credit. We have not determined whether these requirements have been met with respect to any withholding tax imposed on dividends on our ADSs or common shares and, therefore, you should consult your tax advisers regarding the availability of foreign tax credits for any amounts withheld with respect to dividends on our ADSs or common shares to which the Final Treasury Regulations apply.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Because your gains from the sale or exchange of our common shares or ADSs will generally be treated</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">as U.S.-source income, the limitation described above may preclude you from claiming a credit for all</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or a portion of any Brazilian taxes imposed on any such gains. You should consult your tax adviser as to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">whether these Brazilian taxes may be creditable against your U.S. federal income tax liability on</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">foreign-source income from other sources. In addition, in taxable years to which they apply, the Final</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Treasury Regulations generally will preclude U.S. Holders from claiming a foreign tax credit with respect</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to any tax imposed on gains from the disposition of shares by a jurisdiction, such as Brazil, that does not</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">have an applicable income tax treaty with the United States, although such taxes may be applied to reduce</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the amount realized by the U.S. holder on the disposition.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Instead of claiming a credit, you may elect to deduct otherwise creditable Brazilian taxes in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">computing your taxable income, subject to generally applicable limitations under U.S. law. An election to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">deduct foreign taxes instead of claiming foreign tax credits must apply to all taxes paid or accrued in the</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">taxable year to foreign countries and possessions of the United States.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Any Brazilian IOF/Exchange Tax (as discussed below under </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian Tax Considerations&#8212;Tax on Mergers Involving Bonds and Securities</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) will not be treated as creditable foreign taxes for U.S. federal income tax purposes. You should consult your tax adviser regarding the tax treatment of these taxes for U.S. federal income tax purposes.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The rules governing foreign tax credits are complex and, therefore, you should consult your tax adviser regarding the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">creditability or deductibility of any Brazilian </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">tax in your particular circumstances.</span></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Passive Foreign Investment Company Rules</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In general, a non-U.S. corporation will be a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">passive foreign investment company,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">PFIC,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for U.S. federal income tax purposes for any taxable year in which, after applying certain look-through rules, either (1) at least 75% of its gross income is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">passive income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or (2) at least 50% of the average quarterly value of its assets consists of assets that produce </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">passive income</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or are held for the production of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">passive income.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Passive income for this purpose generally includes dividends, interest, royalties, rents and gains from foreign currency, securities and certain commodities transactions. Based on the composition of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> income and the composition of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> assets, we do not believe that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">we were</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a PFIC for </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">our</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> taxable year ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. However, because PFIC status depends upon the composition of our income and assets and the market value of our assets (including, among others, goodwill and less than 25% owned equity investments) from time to time, we cannot assure you that we will not be considered a PFIC for any taxable year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If we were a PFIC for any taxable year during which you held our common shares or ADSs, gain recognized by you on a sale or other disposition (including certain pledges) of the common shares or ADSs would be allocated ratably over your holding period for the common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> or ADSs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. The amounts allocated to the taxable year of the sale or other disposition and to any year before we became a PFIC would be taxed as ordinary income. The amount allocated to each other taxable year would be subject to tax at the highest rate on ordinary income in effect for individuals or corporations, as appropriate for that taxable year, and an interest charge would be imposed on the resulting tax liability. Further, to the extent any distribution in respect of our common shares or ADSs exceeded 125% of the average of the annual distributions on common shares </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or ADSs </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">received by you during the preceding three years or your holding period, whichever was shorter, that distribution would be subject to taxation in the same manner as gain, described immediately above. Certain elections might be available that would result in alternative treatments (such as mark-to-market treatment) of our common shares or ADSs. You should consult your tax adviser to determine whether these elections would be available and, if so, what the consequences of the alternative treatments would be in your particular circumstances.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, if we were a PFIC for the taxable year in which we paid a dividend or for the prior taxable year, the favorable tax rates applicable to long-term capital gains discussed above with respect to dividends paid to non-corporate U.S. Holders would not apply.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If a U.S. Holder owns our common shares or ADSs during any year in which the Company is a PFIC, the U.S. Holder generally must file annual reports containing such information as the U.S. Treasury may require on IRS Form 8621 (or any successor form) with respect to the Company, generally with the U.S. Holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s federal income tax return for that year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">U.S. Holders should consult their tax advisers regarding the potential application of the PFIC rules.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Information Reporting and Backup Withholding</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Payments of dividends and sales proceeds that are made within the United States or through certain U.S.-related financial intermediaries generally are subject to information reporting and backup withholding unless (1) you are a corporation or other exempt recipient or (2) in the case of backup withholding, you provide a correct taxpayer identification number and certify that you are not subject to backup withholding.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The amount of any backup withholding from a payment to you will be allowed as a credit against your U.S. federal income tax liability and may entitle you to a refund, provided that the required information is timely furnished to the Internal Revenue Service.</span></p>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Brazilian Tax Considerations </span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Income Tax</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Dividends</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Dividends paid by a Brazilian corporation, such as Cosan, including stock dividends and other dividends paid to a Non-Resident Holder of common shares, are currently not subject to withholding income tax in Brazil to the extent that these amounts are related to profits generated on or after January 1, 1996. Dividends paid from profits generated prior to January 1, 1996 may be subject to Brazilian withholding income tax at varying rates, according to the tax legislation applicable to each corresponding year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Notwithstanding the foregoing, it should be noted that Brazilian GAAP was subject to changes in the end of 2007 (effective as of 2008) in order to conform to IFRS accounting standards. However, until January 1, 2015, Brazilian companies were still required to adopt, for tax purposes, the accounting rules and criteria that were effective on December 31, 2007, or the old Brazilian GAAP, pursuant to a transitory tax regime (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">regime tribut&#225;rio de transi&#231;&#227;o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), or RTT. Law No. 12,973 of May 13, 2014, as amended, or Law No. 12,973/14, extinguished the RTT and approved new rules aimed at permanently aligning the Brazilian tax system with IFRS as of January 1, 2015, including with respect to dividend distributions. For the 2014 fiscal year, the taxpayers were entitled to elect to adopt the new rules or to adopt the RTT.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under the RTT, there was controversy on how tax authorities would view certain situations, including whether dividends should be calculated in accordance with the IFRS rules or the old Brazilian GAAP. It was debatable whether any dividend distributions made in accordance with IFRS rules in excess of the amount that could have been distributed had the profits been ascertained based on the old Brazilian GAAP would be taxable income. In view of such controversy, Law No. 12,973/14 expressly determines that dividends calculated in accordance with the IFRS rules based on profits ascertained between January 1, 2008 and December 31, 2013 should not be subject to taxation.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Notwithstanding the provisions of Law No. 12,973/14, Brazilian tax authorities issued Normative Ruling No.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,492, of September 17, 2014, or Normative Ruling No. 1,492/14, which provides that dividend distributions supported by IFRS profits ascertained in the year 2014 that exceed the amount resulting from the adoption of the old Brazilian GAAP should be subject to taxation. However, this rule would only apply to taxpayers that have not elected to account for the effects of Law No. 12,973/14 (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">i.e.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, taxation based on IFRS rules) for the 2014 fiscal year.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Despite our belief that the tax exemption on dividends applies to dividends distributed by Brazilian companies out of profits ascertained in accordance with IFRS principles, there can be no assurance that dividends distributed out of the profits of companies ascertained in the 2014 fiscal year and that have not elected to adopt the new rules in said fiscal year will be tax exempt. If the provisions of Normative Ruling No. 1,492/14 are applicable, dividends ascertained in the fiscal year of 2014 based on IFRS that exceed the amount that would result from the adoption of the old Brazilian GAAP could be subject to withholding income tax at the rate of 15%, or 25% if the Non-Resident Holder is domiciled in a country or other jurisdiction (1) that does not impose income tax, (2) where the maximum income tax rate is lower than 20.0% or 17%, as the case may be, or (3) where the applicable local laws impose restrictions on the disclosure of the shareholding composition or the ownership of investments (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Low or Nil Tax Jurisdiction</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">). See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;Discussion on Low or Nil Tax Jurisdictions.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">There can be no assurance that the current tax exemption on dividends distributed by Brazilian companies will continue in the future. If this tax exemption does not apply, it could have an adverse impact on Non-Resident Holders.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Interest Attributable to Shareholder</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">s Equity</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Law No. 9,249, dated December 26, 1995, as amended, or Law No. 9,249/95, allows a Brazilian corporation, such as Cosan, to make distributions to shareholders of interest on equity and treat those payments as deductible expense, for purposes of calculating Brazilian corporate income tax and social contribution on net profits as long as the limits described below are observed. These distributions may be paid in cash. For tax purposes, this interest is limited to the daily pro rata variation of the TJLP as determined by the Brazilian Central Bank from time to time, and the amount of the deduction may not exceed the greater of:</span></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">50% of net profits (after the deduction of social contribution on net profits and before taking into account the provision for corporate income tax and the amount attributable to shareholders as interest on equity) related to the period in respect of which the payment is made; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">50% of the sum of retained profits and profit reserves as of the date of the beginning of the period in respect of which the payment is made.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Payment of interest on equity to a Non-Resident Holder is subject to withholding income tax at the rate of 15%, or 25% if the Non-Resident Holder is domiciled in a Low or Nil Tax Jurisdiction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">These payments may be included, at their net value, as part of any mandatory dividend. To the extent payment of interest on equity is so included, the corporation is required to distribute to shareholders an additional amount to ensure that the net amount received by them, after payment of the applicable Brazilian withholding income tax, plus the amount of declared dividends is at least equal to the mandatory dividend.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Distributions of interest on equity to Non-Resident Holders may be converted into U.S. dollars and remitted outside Brazil, subject to applicable exchange controls, to the extent that the investment is registered with the Brazilian Central Bank.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Capital Gains</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">According to Article 26 of Law No. 10,833, dated December 29, 2003, as amended, gains related to the sale or disposition of assets located in Brazil, such as the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">common shares of Cosan</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, by a Non-Resident Holder, are subject to withholding income tax in Brazil, regardless of whether the sale or disposition is made by a Non-Resident Holder to another non-resident of Brazil or to a Brazilian resident.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a general rule, capital gains realized as a result of a sale or disposition of common shares are equal to the positive difference between the amount realized on the sale or disposition and the respective acquisition costs of the common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">There is a controversy regarding the currency that should be considered for purposes of determining the capital gain realized by a Non-Resident Holder on a sale or disposition of shares in Brazil, more specifically, if such capital gain is to be determined in foreign or in local currency.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under Brazilian law, income tax on such gains can vary depending on the domicile of the Non-Resident Holder, the type of registration of the investment by the Non-Resident Holder with the Brazilian Central Bank and how the disposition is carried out, as described below.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Currently, capital gains realized by Non-Resident Holders on a sale or disposition of shares carried out on the B3 (including the organized over-the-counter market) are:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">exempt from income tax when realized by a Non-Resident Holder that (1) has registered its investment in Brazil with the Brazilian Central Bank under the rules of Resolution 4,373/14 of the Brazilian Monetary Council (a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">4,373 Holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), and (2) is not resident or domiciled in a Low or Nil Tax Jurisdiction;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">subject to income tax at a rate of 15% in the case of gains realized by (A)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> a Non-Resident Holder that (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is not a 4,373 Holder and (2) is not resident or domiciled in a Low </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or Nil Tax Jurisdiction; or (B)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">a Non-Resident Holder that (1) is a 4,373 Holder, and (2) is resident or domiciled a Low or Nil Tax Jurisdiction; or</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">subject to income tax at a rate of up to 25% in the case of gains realized by a Non-Resident Holder</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> that (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is not a 4,373 Holder, and (2) is resident or domiciled in a Low or Nil Tax Jurisdiction.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A withholding income tax of 0.005% will apply and can be offset against the eventual income tax due on the capital gain. Such withholding does not apply to a 4,373 Holder that is not resident or domiciled in a Low or Nil Tax Jurisdiction.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under current law, for transactions taking place outside the B3 or the organized over-the counter market, capital gains recognized by a Non-Resident Holder would be, in principle, subject to income tax in Brazil at progressive </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">rates from 15% to 22.5% or 25%, if such Non-Resident Holder is resident or domiciled in a Low or Nil Tax Jurisdiction. The rates mentioned above would apply unless a lower rate is provided for in an applicable tax treaty between Brazil and the country where the Non-Resident Holder is domiciled.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Law No. 13,259 of March 16, 2016 determined the new progressive taxation method over capital gains mentioned above that has been in force since January 1, 2017. Capital gains are subject to income tax based on the following rates:</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(i)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">15% on any capital gain not exceeding R$5,000,000.00;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(ii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">17.5% on the portion of the capital gain between R$5,000,000.00 and R$10,000,000.00;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(iii)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20% on the portion of the capital gain between R$10,000,000.00 and R$30,000,000.00; or</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(iv)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">22.5% on the portion of the capital gain exceeding R$30,000,000.00.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">If the Non-Resident Holder is a 4,373 Holder and is not resident or domiciled in a Low or Nil Tax Jurisdiction, it is arguable that the progressive rates mentioned above should not apply and, in such case, the 4,373 Holder would be subject to income tax at a fixed rate of 15%.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In the cases above, if the capital gains are related to transactions conducted on the Brazilian non-organized over-the-counter market with the intermediation of a financial institution the withholding income tax of 0.005% will apply and can later be offset against any income tax due on the capital gains.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The exercise of any preemptive rights relating to our common shares will not be subject to Brazilian income tax. Gains realized by a Non-Resident Holder on the disposition of preemptive rights in Brazil will be subject to Brazilian income tax according to the same rules applicable to the sale or disposition of shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">There can be no assurance that the current favorable tax treatment of 4,373 Holders will continue in the future.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Discussion on Low or Nil Tax Jurisdictions</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">According to Law No 9,430, dated December 27, 1996, Low or Nil Tax Jurisdiction is a country or location that (1) does not impose taxation on income, (2) imposes the income tax at a rate lower than 20% or (3) imposes restrictions on the disclosure of shareholding composition or the ownership of the investment. On November 28, 2014, the Brazilian tax authorities issued the Ordinance No. 488, which decreased from 20% to 17% such minimum threshold for specific cases. The 17% threshold applies only to countries and regimes aligned with international standards of fiscal transparency in accordance with rules to be established by the Brazilian tax authorities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Law No. 11,727/08 created the concept of Privileged Tax Regimes, which encompasses the countries and jurisdictions that: (1) do not tax income or tax it at a maximum rate lower than 20% or 17%, as the case may be; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">grant tax advantages to a non-resident entity or individual (i) without the need to carry out a substantial economic activity in the country or a said territory or (ii) conditioned to the non-exercise of a substantial economic activity in the country or a said territory; (3) do not tax or taxes proceeds generated abroad at a maximum rate lower than 20%, or 17%, as applicable; or (4) restricts the ownership disclosure of assets and ownership rights or restricts disclosure about economic transactions carried out.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">In addition, Brazilian tax authorities enacted Normative Ruling No. 1,037, of June 7, 2010, or Normative Ruling No. 1,037/10, as amended, listing (1) the countries and jurisdictions considered Low or Nil Tax Jurisdictions, and (2) the Privileged Tax Regimes.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The interpretation of the current Brazilian tax legislation should lead to the conclusion that the concept of Privileged Tax Regimes should only apply for certain Brazilian tax purposes, such as transfer pricing and thin capitalization rules. According to this interpretation, the concept of Privileged Tax Regimes should not be applied in connection with the taxation of dividends, interest on equity and gains related to investments made by Non-Brazilian Holders in Brazilian corporations. Regulations and non-binding tax rulings issued by Brazilian federal tax authorities seem to confirm this interpretation.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Notwithstanding the fact that such Privileged Tax Regimes concept was enacted in connection with transfer pricing rules and is also applicable to thin capitalization and cross-border interest deductibility rules, Brazilian tax authorities may take the position that such Privileged Tax Regimes definition also applies to other types of transactions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result, there is no assurance that Brazilian tax authorities will not attempt to apply the concept of Privileged Tax Regimes to non-resident investors holding common shares such as a Non-Resident Holder. Prospective purchasers should therefore consult with their own tax advisors regarding the consequences of the implementation of Law No. 11,727/08, Normative Ruling No. 1,037/10, as amended, and of any related Brazilian tax laws or regulations concerning Low or Nil Tax Jurisdictions and Privileged Tax Regimes.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Sale of ADSs</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We do not expect the gains realized by a Non-Resident Holder on the disposition of ADSs to another non-Brazilian resident to be subject to Brazilian tax, based on the argument that the ADSs would not constitute assets located in Brazil for purposes of Law No. 10,833/03. However, we cannot assure you how Brazilian courts would interpret the definition of assets located in Brazil in connection with the taxation of gains realized by a Non-Resident Holder on the disposition of ADSs to another non-Brazilian resident. As a result, gains on a disposition of ADSs by a Non-Resident Holder to a Brazilian resident, or even to a Non-Resident Holder in the event that courts determine that the ADSs would constitute assets located in Brazil, may be subject to income tax in Brazil according to the rules described above. If this income tax does apply, it could have an adverse impact on Non-Resident Holders.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gains on the exchange of ADSs for shares</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Non-Resident Holders may exchange ADSs for the underlying shares, sell the shares on a Brazilian stock exchange and remit abroad the proceeds of the sale. As a general rule, the exchange of ADSs for shares is not subject to income taxation in Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Upon receipt of the underlying shares in exchange for ADSs, Non-Resident Holders may also elect to register with the Brazilian Central Bank the U.S. dollar value of such shares as a foreign portfolio investment under CMN Resolution No. 4,373/14, which will entitle them to the tax treatment referred above on the future sale of the shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Alternatively, the Non-Resident Holder is also entitled to register with the Brazilian Central Bank the U.S. dollar value of such shares as a foreign direct investment under Law No. 4,131/62, in which case the respective sale would be subject to the tax treatment applicable to transactions carried out of by a Non-Resident Holder that is not a 4,373 Holder.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Gains on the Exchange of Shares for ADSs</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The deposit of shares of a Brazilian entity in exchange for the ADSs by a Non-Resident Holder may be subject to Brazilian withholding income tax on capital gains if the acquisition cost is lower than the share price verified on the exchange date. The capital gains ascertained by the Non-Resident Holder, in this case, should be subject to taxation at rates that vary from 15% to 22.5%, depending on the amount of the gain, as referred to above; or at 25% if realized by a Non-Resident Holder that is resident or domiciled in a Low or Nil Tax Jurisdiction. In certain circumstances, there may be arguments to sustain the position that such taxation is not applicable to 4,373 Holders that are not resident or domiciled in a Low or Nil Tax Jurisdiction, which would be subject to taxation at a fixed 15% rate.</span></p>
<p style="margin: 0pt 0pt 10pt 18pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">Tax on Foreign Exchange Mergers</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian law imposes a tax on foreign exchange transactions (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IOF/Exchange</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), due on the conversion of Brazilian currency into foreign currency (</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">e.g.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, for purposes of paying dividends and interest) and the conversion of foreign currency into Brazilian currency. Currently, for most exchange transactions, the rate of IOF/Exchange is 0.38%</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Effective as of December 1, 2011, however, the IOF/Exchange is levied at a rate of 0% over foreign exchange transactions entered into in connection with the inflow of proceeds to Brazil for investments made by a foreign investor (including a Non-Resident Holder) in (1) variable income transactions carried out on the Brazilian stock, futures and commodities exchanges, and (2) the acquisitions of shares of Brazilian publicly held companies in public </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">offerings or subscription of shares related to capital contributions, provided that the company has registered its shares for trading with the stock exchange. As of June 5, 2013, this beneficial tax treatment was extended to all investments made under the rules of CMN Resolution 4,373/14 in the Brazilian financial and capital markets, including the investment in common shares. The IOF/Exchange at a rate of 0% also applies for the outflow of funds from Brazil related to these types of investments, including payments of dividends and interest on equity and the repatriation of funds invested in the Brazilian market.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Furthermore, the IOF/Exchange is currently levied at a 0% rate on the withdrawal of ADSs into shares of a Brazilian entity. Nonetheless, the Brazilian government may increase the rate at any time up to 25%. However, any increase in rates may only apply to future foreign exchange transactions.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Tax on Mergers Involving Bonds and Securities</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Brazilian law imposes a tax on transactions involving bonds and securities (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">IOF/Bonds</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">), including those carried out on a Brazilian stock exchange. The rate of IOF/Bonds applicable to transactions involving common shares is currently 0%, although the Brazilian government may increase such rate at any time up to 1.5% of the transaction amount per day, but only in respect of future transactions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">On December 24, 2013, the Brazilian government reduced the IOF/Bonds to zero for transactions involving the deposit of shares which are issued by a Brazilian company admitted to trade on the B3 with the specific purpose of enabling the issuance of depositary receipts traded outside Brazil.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Other Brazilian Taxes</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">There are no Brazilian inheritance, gift or succession taxes applicable to the ownership, transfer or disposition of common shares by a Non-Resident Holder, except for gift and inheritance taxes imposed by some Brazilian states on gifts or bequests by individuals or entities not domiciled or residing in Brazil to individuals or entities domiciled or residing within such states. There are no Brazilian stamp, issue, registration, or similar taxes or duties payable by holders of common shares.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10F_O9DR5MXI5C00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">F. Dividends and Paying Agents</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10g_56GOR66NTS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">G. Statement by Experts</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10H_OZEXCFCPSG00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">H. Documents on Display</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Statements contained in this annual report as to the contents of any contract or other document referred to are not necessarily complete, and each of these statements is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit hereto. A copy of the complete annual report including the exhibits and schedules filed herewith may be inspected without charge at the public reference facilities maintained by the SEC at 100 F Street NE., Washington, D.C., and at the SEC</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s regional offices located at 233 Broadway, New York, N.Y., 10279 and North Western Atrium Center, 500 West Madison Street, Suite 1400, Chicago, Illinois 60661-2511. Copies of such materials may be obtained by mail from the Public Reference Section of the SEC, 100 F Street NE., Washington, D.C., at prescribed rates. Such reports and other information may also be inspected at the offices of the New York Stock Exchange, 11 Wall Street, New York, N.Y. 10005, on which our class A common shares are listed. In addition, the SEC maintains a website that contains information which we have filed electronically with the SEC, including our annual reports, periodic reports and other filings, which can be accessed over the Internet at http://www.sec.gov.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are subject to the information and periodic reporting requirements of the Exchange Act</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and, in accordance therewith, file periodic reports and other information with the SEC. However, as a foreign private issuer, we are exempt from the rules under the Exchange Act relating to the furnishing and content of proxy statements and relating to short-swing profits reporting and liability.</span></p>
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<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B10i_CITP55SOCG00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">I. Subsidiary Information</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI11_H4Z4RJ8SCW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 11. Quantitative and Qualitative Disclosures About Market Risk</span></a></div>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Risk Management</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We consider market risk to be the potential loss arising from adverse changes in market rates and prices. The Company, its subsidiaries and jointly controlled entities are exposed to market risks, chief of which are: (1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">credit risk; (2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">liquidity risk; (3) commodities risk; (4) interest rate risk; and (5) foreign currency exchange rate risk. In order to manage its market risks, the Company has adopted policies and procedures which establish limits and monitor risk exposure and counterparties and approve financial instruments. Risk and financial instrument management activities are carried out through the definition of strategies, establishment of control systems and determination of limits to exposure to market risks. We periodically review our exposure to market risks and determine at the senior management level how to manage and reduce the impact of these risks.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Company uses derivatives solely to manage market risk, especially commodity price and foreign exchange rate fluctuations. Although the value of these hedge instruments varies, these variations are usually offset by the value of the related hedged item. The parties to these agreements are mainly trade boards and trading companies in the case of futures, options and price setting, and major financial institutions in the case of foreign exchange derivatives and interest rate swaps. The Company does not use derivatives or other hedge instruments for speculative purposes.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a result, we do not believe that we are subject to any material credit risk arising from these contracts, and accordingly, we do not anticipate any material credit-related losses.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Credit Risk</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Credit risk is managed through specific rules concerning client acceptance which require credit rating checks and limits for customer exposure, applicable to all subsidiaries and jointly controlled entities. Ra&#237;zen generally requires a letter of credit from a reputable bank for most of our sugar export sales. We do not believe that we are subject to any material credit risk and we do not anticipate any material credit-related losses. Management believes that any credit risk is covered by the allowance for doubtful accounts recorded in our statement of financial position.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Liquidity Risk</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Liquidity risk arises where we may encounter difficulties in meeting the obligations associated with our financial liabilities that are settled by delivering cash or another financial asset. Our approach to managing liquidity is to ensure, as far as possible, that we will have sufficient liquidity to meet our liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to our reputation. Please see note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.12</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements attached</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> hereto for measures on which our management has been working to enable us to honor our commitments.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Commodities Risk</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Mainly applicable to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the energy-generating business of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen, agricultural commodity prices and supply levels change according to unpredictable factors such as the weather, investments, government programs and policies and changes in world demand, among others.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen conducts sensitivity tests to estimate its exposure to these risks and uses derivatives to mitigate its exposure to sugar price oscillation on the international market. Derivative operations allow the Company to ensure an average margin for future sales. Ra&#237;zen actively manages its open positions and monitors the result of these activities on a daily basis through effective mark-to-market controls and price impact simulations so that it may adjust targets and strategies due to changes in market conditions.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For risk management purposes and to evaluate the overall level of commodity price exposure, Ra&#237;zen further reduces its exposure to commodity market risk related to the sugar and ethanol produced from sugarcane that is purchased from growers and sugarcane harvested from leased land, as both costs are linked to TSR. The price of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">sugarcane supplied by growers or the lease payments incurred to produce sugarcane harvested by Ra&#237;zen from leased land is indexed to the market price of sugar and ethanol, which provides a partial natural hedge to domestic sugar and ethanol sales price exposure.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The table below provides information about the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s (through Ra&#237;zen) sugar, diesel, gasoline, ethanol and electric power derivative contracts that are sensitive to changes in commodity prices, specifically suga</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">r prices as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. For the derivative contracts, the table presents the notional amounts in tons, the weighted average contract prices, and the total U.S. dollar contract amount by expected maturity dates.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Price Risk </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8211;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Commodities Derivative</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">s Opened as of December 31, 2021&#160;</span></p>
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</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Market</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Agreement</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Maturity </span><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Date</span></p>
</th>
<th colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Notional</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Notional</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Fair </span><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Value</span></p>
</th>
</tr>
<tr style="height: 16px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(unit)</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(R$ thousand)</span></p>
</th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 11%;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">ICE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Jun-24</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">15,11</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">7,999</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 5%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px; width: 11%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">30,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">508,502</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px; width: 2%;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px; width: 11%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(4,3</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">08,929</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYSE LIFFE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Nov-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">599,800</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,600,136</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(107,014)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Feb-22 to Feb-24</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,374,549</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">5,69</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">,9</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">31</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(2,109,3</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">44</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Options </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">ICE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Sep-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">981,653</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,508,691)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(130,536)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Options </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Apr-23 to Sep-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">492,783</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,244,614)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(98,084)</span></p>
</td>
</tr>
<tr style="height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of sugar future sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">20,566,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">784&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">35,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">047,264</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; text-align: right; height: 19px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(6,75</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">3</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">907</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">ICE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Sep-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(13,458,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">177</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(27,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">429,712</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,74</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">2,554</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYSE LIFFE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#5</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Sep-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(466,900)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,274,918)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">68,911</span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Feb-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(406)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">867</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">55</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Options </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">ICE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Apr-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(834,074)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,398,551</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">119,100</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Options </span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 1.55pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Apr-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(492,783)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">955,192</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">26,985</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of sugar future purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(15,252,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">340</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(26,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">351</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">754</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,9</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">57,495</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">ICE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Jun-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">2,203,991</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">5,113,845</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">27,058</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of sugar physical fixed sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">2,203,991</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">5,113,845</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">27,058</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">ICE</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sugar#11</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Jun-23</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,017,073)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(2,385,181)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(5,860)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of sugar physical fixed purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,017,073)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(2,385,181)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(5,860)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> of sugar future</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">6,501,3</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">62</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">t</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">11,4</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">24,174</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(2,77</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">5,214</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">B3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Nov-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">414,360</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,247,270</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">369</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">CME</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">128,209</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,647,266</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(448,474)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Mar-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">231,720</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">233,499</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">6,243</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Options</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">CME</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Sep-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,505</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(19,720)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(34,990)</span></p>
</td>
</tr>
<tr style="height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of ethanol future sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">777,794</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,108,315</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(476,852)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">B3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Aug-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(362,220)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,139,239)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(2,341)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">CME</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">81,780</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,042,275)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">461,768</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Sep-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(286,5</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">69</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(2</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">86,898</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">9,581</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Option</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">CME</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Mar-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(3,513)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">27,858</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">36,555</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 10px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of ethanol future purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">734,082</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(2,45</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">40,554</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">48</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">6,401</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 1.45pt; padding-right: 1.45pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">CHGOETHNL</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-30</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,709,808</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">6,776,152</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,947,533)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> physical fixed ethanol sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,709,808</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">6,776,152</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,947,533)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 1.45pt; padding-right: 1.45pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">CHGOETHNL</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-30</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,911,442)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(7,122,454)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,944,786</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> physical fixed ethanol purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,911,442)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(7,122,454)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,944,786</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> future physical fixed</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> ethanol</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(2</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">01,634</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">3</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">46,302)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(2,747)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Gasoline</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Mar-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">812,490</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">2,413,028</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">168,433</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of gasoline future </span><span style="font-family: 'Times New Roman'; font-size: 8pt;">sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">812,490</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">2,413,028</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">168,433</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Gasoline</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Mar-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">672,729</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">2,198,650</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">91,424</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Options</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Gasoline</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Mar-22 to May-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(532,650)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,524,754</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">62,337</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of future gasoline </span><span style="font-family: 'Times New Roman'; font-size: 8pt;">purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,205,379</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(673,896)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">29,087</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> of gasoline future</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">392,889</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">1,</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">739,132</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">197,520</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
</tr>
</tbody>
</table>
<div>
<p><br/></p>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">210</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<br/>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 99.9543%; height: 328px;" width="100%">
<thead>
<tr style="height: 19px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Derivatives</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Purchased / Sold</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Market</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Agreement</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Maturity </span><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Date</span></p>
</th>
<th colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Notional</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Notional</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Fair </span><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: bold;">Value</span></p>
</th>
</tr>
<tr style="height: 16px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal;">&#160;</span></p>
</th>
<th colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(unit)</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(R$ thousand)</span></p>
</th>
</tr>
</thead>
<tbody>
<tr style="background-color: #cceeff; height: 10px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11%;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 1.45pt; padding-right: 1.45pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Heating Oil</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,216,224</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 5%;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; width: 11%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">5,367,047</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; width: 2%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; width: 11%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">16,588</span></p>
</td>
</tr>
<tr style="height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of future heating oil sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,216,224</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">5,367,047</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">16,588</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 1.45pt; padding-right: 1.45pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Heating Oil</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,037,719</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">4,609,040</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">46,314</span></p>
</td>
</tr>
<tr style="height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal of future heating oil purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,037,719)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(4,609,040)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">46,314</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Heating Oil</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Jan-23</span></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,200,251</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,958,517</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; border-bottom: 1px solid #000000;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(37,468)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of physical fixed heating oil sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">1,200,251</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,958,517</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(37,468)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">NYMEX</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Heating Oil</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Jan-23</span></p>
</td>
<td style="border-bottom: 0.5pt solid #000000; padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,260,913)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(4,144,513)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; border-bottom: 1px solid #000000;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">29,989</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt;"> of physical fixed heating oil purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(1,260,913)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(4,144,513)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">29,989</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> of heating oil future</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">60,662</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">cbm</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">85,996</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">7,479</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Energy</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-32</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">20,0</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">78,282</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">MWh</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">4,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">387,728</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">211,787</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal future physical fixed electric power sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">20,0</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">78,282</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">MWh</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">4,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">387,728</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">211,787</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Physical fixed</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Purchased</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Energy</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Jan-22 to Dec-32</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(20,0</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">78,626</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">MWh</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(4,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">192,812</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(45,223)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 19px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt 7.9pt 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal future physical fixed electric power purchased</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(20,0</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">78,626</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">MWh</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(4,</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">192,812</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px; border-bottom-width: 1px;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(45,233)</span></p>
</td>
</tr>
<tr style="height: 20px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; page-break-after: avoid; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Subtotal</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;"> of physical fixed electric power future</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">(344)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">MWh</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">194,916</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">1</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">66,564</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 10px;">
<td colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; page-break-after: avoid; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Future</span></p>
</td>
<td colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Sold</span></p>
</td>
<td colspan="2" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">OTC</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Stock Index</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 1pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Feb-22</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">825</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">un</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">90,44</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,14</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">4</span></p>
</td>
</tr>
<tr style="height: 20px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; page-break-after: avoid; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">Subtotal future stock index sold</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">825</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">un</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">90,44</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">2</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; text-align: right; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-top-color: #000000; border-top-width: 1pt; margin: 0pt; padding-top: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">3,14</span><span style="font-family: 'Times New Roman'; font-size: 8pt;">4</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 21px;">
<td colspan="9" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt 7.9pt 1pt 9.35pt; text-indent: 0.95pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Net exposure to commodity derivatives in December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">1</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt 0pt 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 21px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">1</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">4,342,134</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: middle; background-color: #cceeff; text-align: right; height: 21px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 1pt; padding-bottom: 1pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(2,</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">740,801</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">211</span></td>
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</tbody>
</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Interest Rate Risk</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We have fixed and floating rate indebtedness and, therefore, we are exposed to market risk as a result of changes in interest rates. See </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 5. Operating and Financial Review and Prospects&#8212;B. Liquidity and Capital Resources&#8212;Indebtedness</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for further information.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our interest rate risk refers to the impact of an increase in the LIBOR (London Interbank Offered Rate) indexed interest rate, TJLP (Long-term Interest Rate), TR (Reference Interest Rate), IGP-M (General Market Price Index), IPCA (Consumer Price Index) and CDI (Interbank Deposit Certificate) indexed debt on the Company</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s finance results.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">52.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">23,857.4</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">45.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">%, or R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">21,477.9 million as of December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) of our consolidated total debt outstanding was fixed rate debt.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The majority of our debt, except the jointly controlled subsidiary Ra&#237;zen, is dollar-denominated with fixed interest rates or </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">-denominated debts indexed to the CDI or TJLP. Most of our outstanding debt is linked to the CDI note. We have a substantial amount of cash and cash equivalents and marketable securities indexed to the CDI, which provides a partial natural hedge to our interest rate exposure of our </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">-denominated debts.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Based on the foregoing, we beli</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">eve that as of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, a hypothetical 10% increase in all interest rates would increase o</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ur financial expenses by R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2,385.8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million per year based on the net financial expenses we recorded in our consolidated statement of profit or loss for the fiscal year ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Foreign Currency Exchange Rate Risk</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The foreign exchange variations to which we are exposed are mainly related to our outstanding perpetual notes in an aggregate amount of U.S.$500 million. We use derivatives to hedge the cash flows for payment of part of the interest on this debt against a possible appreciation of the U.S. dollar against the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">. In addition, basic oil imports for the lubricants business are also exposed to foreign exchange variations, hedged by derivatives on a case-by-case basis.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A significant portion of the revenue of the jointly controlled subsidiary Ra&#237;zen is U.S. dollar denominated. Most of Ra&#237;zen Energia</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s costs are denominated in </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and therefore, when the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> appreciates against the U.S. dollar, its operating margins are adversely affected. A considerable part of Ra&#237;zen</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s debt is also denominated in dollars exposing it to the risk of variations in the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to U.S. dollar exchange rate (derivative financial instruments are used to hedge the cash flows for payment of interest of these debts).</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ra&#237;zen has foreign exchange derivatives in order to mitigate its exposure to the effect of foreign exchange variations on its sugar and ethanol export revenues, combined with cash outlays to cover its debt commitments in foreign currency, mainly the U.S. dollar. The exchange rate derivatives together with the sugar price derivatives allow Ra&#237;zen to ensure an average margin from future sales. Ra&#237;zen actively manages open positions, and the results of these activities are monitored on a daily basis through effective mark-to-market controls and price impact simulations that allow Ra&#237;zen to adjust targets and strategies as a result of changes in market conditions. Ra&#237;zen uses financial derivative instruments to hedge foreign exchange risk.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As of December 31, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, our foreign exchange exposure, net was R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">5,021.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million (R$4,779.5</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million in the fis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">) which were represented by cash and cash equivalents, loans and derivatives contracts as disclosed in note </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">6.12</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">audited consolidated financial statements attached</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> hereto.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">212</span></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">As a measure of our market risk with respect to our foreign currency exposure, a hypothetical 10% appreciation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">real </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">against the foreign currency would increase in profit for the year by R$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">502.2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million per year, based on </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">the foreign exchange exposure for the fiscal year ended December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, before considering the effects on U.S. dollar derivative contracts and other foreign currency denominated assets and liabilities, as set forth below:</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 99px; width: 100%;" width="100%">
<thead>
<tr style="height: 32px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 52.58%; margin-left: 0.1px; height: 32px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; break-after: avoid; text-align: left;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Foreign c</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">urrency Financial Instruments Outstandi</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">ng as of </span><br/><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 202</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">1</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">:</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; margin-left: 0.1px; height: 32px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">N</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">otional </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Amount</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">/ Quantity</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.82%; margin-left: 0.1px; height: 32px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Estimated Fair </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Value </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Asset (Liability)</span></p>
</th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; margin-left: 0.1px; height: 32px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 1pt; line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Foreign Exchange Gain/ Loss &#8211; 10% FX </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Rate </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Decrease</span></p>
</th>
</tr>
<tr style="height: 16px;">
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 52.58%; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
</th>
<th colspan="3" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in millions of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
</th>
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</thead>
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 52.58%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Denominated debt</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">19,988.3</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.82%; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">19,988.3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br/></span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,988.8</span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 52.58%; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Denominated receivables</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(25,010.3)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.82%; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(25,010.3)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2,501.0)</span></p>
</td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 52.58%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Foreign exchange exposure, net</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.8%; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(5,022.0)</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 15.82%; background-color: #cceeff; text-align: right; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(<span style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">5,022.0</span>)</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(502.2)</span></p>
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<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bi12_XCPRMXJTA800000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 12. Description of Securities Other Than Equity Securities</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B12A_1WV2GOR6XS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">A. Debt Securities</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B12B_WNQQ0T9BCG00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">B. Warrants and Rights</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B12C_SFP4T0CIUO00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">C. Other Securities</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B12d_RUU7988ZSW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">D. American Depositary Shares</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">JPMorgan Chase Bank, N.A., or the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Depositary,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">has acted as depositary in relation to the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ADSs </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">program since </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">March 5, 2021. The Depositary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s office is located at 383 Madison Avenue, Floor 11, New York, NY 10179.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Fees and Expenses</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Depositary may charge each person to whom ADSs are issued, including, without limitation, issuances against deposits of common shares of Cosan, issuances in respect of share distributions, rights and other distributions, issuances pursuant to a stock dividend or stock split declared by us or issuances pursuant to a merger, exchange of securities or any other transaction or event affecting the ADSs or deposited securities, and each person surrendering ADSs for withdrawal of deposited securities or whose ADSs are cancelled or reduced for any other reason, U.S.$5.00 for each 100 ADSs (or any portion thereof) issued, delivered, reduced, cancelled or surrendered, as the case may be. The Depositary may sell (by public or private sale) sufficient securities and property received in respect of a share distribution, rights and/or other distribution prior to such deposit to pay such charge.&#160;</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following additional charges shall also be incurred by the holders of American Depositary Receipts evidencing ADSs of Cosan, or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ADRs,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and beneficial owners of ADSs, by any party depositing or withdrawing common shares of Cosan or by any party surrendering ADSs and/or to whom ADSs are issued (including, without limitation, issuance pursuant to a stock dividend or stock split declared by us or an exchange of stock regarding the ADSs or the deposited securities or a distribution of ADSs), whichever is applicable:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">fee of up to U.S.$0.05 per </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ADS held upon which any cash distribution made pursuant to the deposit agreement or in the case of an elective cash/stock dividend, upon which a cash distribution or an issuance of additional ADSs is made as a result of such elective dividend;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">an aggrega</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">te fee of up to U.S.$0.05 per </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ADS per calendar year (or portion thereof) for services performed by the Depositary in administering the ADRs (which fee may be charged on a periodic basis during each calendar year and shall be assessed against ADR holders as of the record date or record dates set by the Depositary during each calendar year and shall be payable in the manner described in the next succeeding provision);</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a fee for the reimbursement of such fees, charges and expenses as are incurred by the Depositary and/or any of its agents (including, without limitation, the Custodian and expenses incurred on behalf of ADR holders </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">in connection with compliance with foreign exchange control regulations or any law, rule or regulation relating to foreign investment) in connection with the servicing of the common shares of Cosan or other deposited securities, the sale of securities (including, without limitation, deposited securities), the delivery of deposited securities or otherwise in connection with the Depositary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s or its Custodian</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s compliance with applicable law, rule or regulation (which fees and charges shall be assessed on a proportionate basis against ADR holders as of the record date or dates set by the Depositary and shall be payable at the sole discretion of the Depositary by billing such ADR holders or by deducting such charge from one or more cash dividends or other cash distributions), including, without limitation, any amounts charged by any governmental authorities or other institutions such as the B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o, the stock exchange on which the common shares of Cosan are registered for trading;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">a fee for the distribution of securities (or the sale of securities in connection with a distribution), such fee being in an amount </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">equal to the U.S.$0.05 per </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ADS issuance fee for the execution and delivery of ADSs which would have been charged as a result of the deposit of such securities (treating all such securities as if they were common shares of Cosan) but which securities or the net cash proceeds from the sale thereof are instead distributed by the Depositary to those ADR holders entitled thereto;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">stock transfer or other taxes and other governmental charges;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">SWIFT, cable, telex and facsimile transmission and delivery charges incurred at your request in connection with the deposit or delivery of common shares of Cosan, ADRs or deposited securities;</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">transfer or registration fees for the registration of transfer of deposited securities on any applicable register in connection with the deposit or withdrawal of deposited securities; and</span></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">fees of any division, branch or affiliate of the Depositary utilized by the Depositary to direct, manage and/or execute any public and/or private sale of securities under the deposit agreement.</span></li>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">To facilitate the administration of various Depositary receipt transactions, including disbursement of dividends or other cash distributions and other corporate actions, the Depositary may engage the foreign exchange desk within the Depositary and/or its affiliates in order to enter into spot foreign exchange transactions to convert foreign currency into U.S. dollars.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The fees and charges you may be required to pay may vary over time and may be changed by us and by the Depositary. ADR holders will receive prior notice of the increase in any such fees and charges. The right of the Depositary to charge and receive payment of fees, charges and expenses as provided above shall survive the termination of the deposit agreement.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Depositary may make available to us a set amount or a portion of the Depositary fees charged in respect of the ADR program or otherwise upon such terms and conditions as we and the Depositary may agree from time to time. The Depositary collects its fees for issuance and cancellation of ADSs directly from investors depositing common shares of Cosan or surrendering ADSs for the purpose of withdrawal or from intermediaries acting for them. The Depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed or by selling a portion of distributable property to pay the fees. The Depositary may collect its annual fee for Depositary services by deduction from cash distributions, or by directly billing investors, or by charging the book-entry system accounts of participants acting for them. The Depositary will generally set off the amounts owing from distributions made to ADR holders. If, however, no distribution exists and payment owing is not timely received by the Depositary, the Depositary may refuse to provide any further services to ADR holders that have not paid those fees and expenses owing until such fees and expenses have been paid. At the discretion of the ADS Depositary, all fees and charges owing under the deposit agreement are due in advance and/or when declared owing by the ADS Depositary.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Direct and Indirect Payments</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The Depositary has agreed to reimburse us for certain expenses related to the establishment and maintenance of the ADR program </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">upon such terms and conditions as the Company and the Depositary may agree from time to time.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> Under certain circumstances, including the removal of JPMorgan Chase Bank, N.A. as depositary, we are required </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">to repay to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">JPMorgan Chase Bank, N.A. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">amounts reimbursed in prior periods. For the year ended December 31, 2021, such reimbursements</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> paid to us by the Depositary</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> amounted to U.S.$</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.05</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> million.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Other Information</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See Exhibit</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> No. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">8</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 2.9</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to this annual report for the form of deposit agreement between us and the Depositary and Exhibit No. 2.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">7</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to this annual report for a description of the rights of holders of the ADSs.&#160;&#160;</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0px; break-after: avoid; text-align: center; text-indent: 0px;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BP2_NAZSPPVJSW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">PART II</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bi13_GCWBFDPH3400000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 13. Defaults, Dividend Arrearages and Delinquencies</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">None.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bi14_N3ESL7EEGW00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 14. Material Modifications to the Rights of Security Holders</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> and Use of Proceeds</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">None.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bi15_88ZBW0UBN400000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 15. Controls and Procedures</span></a></div>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">(a) Disclosure Controls and Procedures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in reports filed </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">under the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Exchange Act </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">is recorded, processed, summarized and reported within the specified time periods. Our chief executive officer and chief financial officer evaluated the effectiveness, as of December 31, 2021, of our &#8220;disclosure controls and procedures,&#8221; as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based upon that evaluation, our chief executive officer and chief financial officer concluded that, due to a material weakness in our internal control over financial reporting as described below, our disclosure controls and procedures were not effective as of December 31, 2021. Notwithstanding this material weakness, our consolidated financial statements included in this annual report fairly present, in all material respects, our financial position, results of operations, capital position, and cash flows for the periods presented, in conformity with IFRS, as issued by the IASB.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">(b) Management&#8217;s Annual Report on Internal Control over Financial Reporting</span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15-d15(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with IFRS as issued by IASB.</span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets, (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with IFRS, and that our receipts and expenditures are being made only in accordance with appropriate authorization of management and the board of directors; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.</span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Also, projections of any evaluation of the effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement in our annual financial statements will not be prevented or detected on a timely basis.</span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in &#8220;Internal Control &#8211; Integrated Framework,&#8221; issued by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission (2013). Based on this assessment management concluded that our internal control over financial reporting was not effective as of December 31, 2021, considering the material weakness described below.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The material weakness identified was that management controls were insufficient</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to detec</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">t d</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">eficiencies</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">information technology, or &#8220;IT,&#8221; general controls</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> over m</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">anagement</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> systems access and monitoring of jobs that also </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">affected the effectiveness of automated and IT-dependent business process controls. Such deficiencies in the aggregate gave rise to a material weakness in our internal control environment.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
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<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Remedial actions</span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are committed to continuing to improve our internal control processes and will continue to diligently review our IT and financial reporting controls and procedures in order to ensure our compliance with the requirements of the Sarbanes-Oxley Act and the related rules promulgated by the SEC. As such, we </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">intend to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> implement the appropriate remedial actions in order to mitigate the risk of future errors in our consolidated financial statements, which may include the involvement of external parties, if applicable.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
<p style="background-color: #ffffff; margin: 0pt 0pt 12pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">However, we cannot assure you that our efforts will be effective, that we will be able to remedy this material weakness or that we will be able to prevent any future material weakness or significant deficiency in our internal control over financial reporting. See also &#8220;Item 3. Key Information&#8212;D. Risk factors&#8212;Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;A material weakness in our internal control over financial reporting has been identified, and if we fail to remediate such material weakness (and any other ones) and to maintain effective internal controls over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations and/or prevent fraud.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;"> (c) Attestation Report of the Registered Public Accounting Firm</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The effectiveness of the internal control over financial reporting, as of December 31, 2021, has been audited by Ernst &amp; Young Auditores Independentes S.S., an independent registered public accounting firm. EY has issued an adverse attestation report on our internal control over financial reporting, which appears on page F-6 of our audited consolidated financial statements included elsewhere in this annual report.</span></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">(d) Changes in Internal Control over Financial Reporting</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">There were no changes in our internal controls over financial reporting that occurred during the period covered by this annual report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. In 2022, we plan to implement the remediation procedures described above to address our material weakness.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">However, w</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">e cannot assure you that our efforts will be effective</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> that </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">we will be able to remedy this material weakness or that we</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> will be </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">able to</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> prevent any future material weakness or significant deficiency in our internal control over financial reporting.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">See also &#8220;Item 3. Key Information&#8212;D. Risk factors&#8212;Risks Related to Our Businesses and the Industries in Which We Operate Generally&#8212;A material weakness in our internal control over financial reporting has been identified, and if we fail to remediate such material weakness (and any other ones) and to maintain effective internal controls over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations and/or prevent fraud.&#8221;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI16A_RIDV5ADQ0W00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16A. Audit Committee Financial Expert</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We have an audit committee responsible for advising the board about the selection of independent auditors, reviewing the scope of the audit, validating other allowed services provided by our independent auditors, and evaluating our internal controls on a steady basis. The members of our audit committee are Messrs</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> J</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">os&#233; Alexandre Scheinkm</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">an,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Jo&#227;o Ricardo Ducatti</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Fel&#237;cio Mascarenhas de Andrade</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">These members are independent, and our board of directors has determined that Jos&#233; Alexandre Scheinkman</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">is </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Audit Committee Financial Expert</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> in accordance with SEC rules and regulations.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI16b_D9O3R519W000000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16B. Code of Ethics</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">NYSE Rule 303A.10 provides that each U.S. listed company must adopt and disclose a code of business conduct and ethics for directors, officers and employees and promptly disclose any waivers of the code for directors or executive officers. The Company has adopted a code of business conduct and ethics for directors, officers and employees as provided for in NYSE Rule 303A.10, which has been filed with the SEC. See Exhibit 11.1.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI16c_YAWGRZ3CY800000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16C. Principal Accountant Fees and Services</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table describes the total amount billed to </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> by Ernst &amp; Young Auditores Independentes S.S., or </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">EY,</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for services performed during the fiscal year</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">s</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> ended December 3</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1, 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2020</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">:</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fiscal Year Ended </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2021</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></th>
<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Fiscal Year Ended </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">December 31, 2020</span></p>
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<th style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</span></p>
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<th colspan="4" style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 16px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(in thousands of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-style: italic; font-weight: bold;">reais</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">)</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; width: 69%;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Audit fees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px 2px 0px 0px; height: 17px; width: 14%; text-align: right; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">9,867.7</span></p>
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<td style="padding: 0px; height: 17px; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px 2px 0px 0px; height: 17px; width: 14%; text-align: right; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">8,834.5</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Audit-related fees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding: 0px 2px 0px 0px; height: 17px; text-align: right; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,841.5</span></p>
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<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px 2px 0px 0px; height: 17px; text-align: right; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3,947.8</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Tax fees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1,587.1</span></p>
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<td style="padding: 0px; height: 20px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 20px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px 2px 0px 0px; height: 20px; text-align: right; border-bottom: 1px solid #000000; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">579.1</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 20px;"><br/></td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total consolidated audit fees</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding: 0px 2px 0px 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">13,296.2</span></p>
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<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px 2px 0px 0px; height: 10px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-bottom: 1pt; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">13,361.4</span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Audit Fees</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Audit fees are fees billed for the audit of our annual consolidated financial statements and for the reviews of our quarterly consolidated financial statements furnished on Form 6-K.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Audit Related Fees</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Audit related fees correspond to services provided in connection with assistance related to review of documents to be filed with local and foreign regulatory bodies, including documents regarding compliance with legislation and regulations, audit of specific financial statements and prospectus review, due diligence activities, assurance of special purpose reports, and other previously agreed-upon procedures.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Tax</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> Fees</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Tax f</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ees correspond for the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Pre-Approval Policies and Procedures</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our audit committee approves all audit, audit-related services, tax services and other services provided by our principal accountants. Any services provided by our principal accountants that are not specifically included within the scope of the audit must be pre-approved by the board of directors in advance of any engagement. The board of directors is permitted to approve certain fees for audit-related services, tax services and other services pursuant to a </span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">de minimis</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> exception prior to the completion of the audit engagement.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B16D_LBDGJCPU2800000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16D. Exemptions from the Listing Standards for Audit Committees</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Our statutory audit committee meets the requirements for the exemption available to foreign private issuers under paragraph (c)(3) of Rule 10A-3 under the Exchange Act. The statutory audit committee is not the equivalent of, or wholly comparable to, a U.S. audit committee. Among other differences, it is not required to meet the standards of &#8220;independence&#8221; established in Rule 10A-3 and is not fully empowered to act on all the matters that are required by Rule 10A-3 to be within the scope of an audit committee&#8217;s authority.</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">See</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;Item 6. Directors, Senior Management and Employees&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">A. Directors and Senior Management</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Committees of the Board of Directors</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">Audit Committee</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">and </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;Item 6. Directors, Senior Management and Employees&#8212;C. Board Practices&#8212;Summary of Significant Differences of Corporate Governance Practices</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#8212;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">Audit Committee and Audit Committee Additional Requirements</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B16E_ETCJMCMYV400000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers</span></a></div>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The following table reflects purchases of our equity securities by us or our affili</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ates in 2021</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">and in</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">2022</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">through to the date of this annual report</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Months</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total Number Common Shares Purchased</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Average Price Paid per Common Share in U.S.$</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(1)</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Total Number of Common Shares Purchased as Part of Publicly Announced Plans or Programs </span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Maximum Number (or Approximate Dollar Value) </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">of </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Common Shares </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">that </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">May Yet Be Purchased </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Under </span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">the Plans or Programs</span><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">(2)</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">January 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">February 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">March 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">130,204</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">3.03</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">130,204</span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">April 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">June 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">September 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">October 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">November 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">December 2021</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">January 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">February 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">March 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt 9.35pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">April 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 9.35pt 1pt; text-indent: -9.35pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">May 2022</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> (through May 4, 2022)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt 8.65pt 1pt 17.3pt; text-indent: -8.65pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">(2)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">130,204</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">3.03</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">130,204</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt 0pt 1pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8211;</span></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt 396pt 2.5pt 0pt; padding-bottom: 1pt; page-break-after: avoid;"><span style="font-family: 'Times New Roman'; font-size: 5pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 13.5pt; text-indent: -13.5pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(1)</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">Solely for the convenience of the reader, we have translated </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">the amounts</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> presented in this column</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> from </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> into U.S. dollars using the exchange rate as reported by the Brazilian Central Bank as of December 31,</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">2021</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">for </span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">reais</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> into U.S. dollars of</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">R$5.581</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">per U.S.$1.00. Th</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">is</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> U.S. dollar equivalent information is provided solely for the convenience of investors and should not be construed as implying that the amounts in</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;"> reais</span><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;"> represent, or could have been or could be converted into, U.S. dollars at such rates or any other rate.&#160;</span><br/><span style="background-color: #ffffff; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 13.5pt; text-indent: -13.5pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">(2) </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">On February 5, 2021, our board of directors approved a new share buyback program for common shares issued by Cosan S.A., or the &#8220;First Share Buyback Program.&#8221; The maximum number of shares that could be repurchased under the First Share Buyback Program was</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">10,000,000</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shares within a period of 18 months from the date of approval. On March 26, 2021, our board of directors approved a new share buyback program</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or the &#8220;Second Share Buyback Program,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> for common shares issued by Cosan S.A. which superseded the First Share Buyback Program</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> The maximum number of shares that could be repurchased under the Second Share Buyback Program was</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">17,000,000</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">shares within a period of 18 months from the date of approval.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">On May 9, 2022, our board of directors approved a new share buyback program</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, or the &#8220;Third Share Buyback Program,&#8221;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">for common shares issued by Cosan S.A. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">which superseded the Second Share Buyback Program.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Under the Third Share Buyback Program, up</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> to 110,000,000 common shares</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> representing 5.87% of our total shares may be repurchased over a period of 18 months from the date of approval</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">The shares repurchased may be used to meet our obligations from potential exercises of our </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">equity-based compensation </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">plans, and may also be held in treasury, disposed of or cancel</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">l</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">ed in accordance with applicable law.</span></p>
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B16F_683AXBTLDC00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16F. Change in Registrant</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#8217;</span><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">s Certifying Accountant</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B16G_QSMDEST8SG00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16G. Corporate Governance</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">For a comparison of the significant differences between our corporate governance practices and the NYSE Corporate Governance Standards, please see </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Item 6. Directors, Senior Management and Employees&#8212;C. </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Board Practices&#8212;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Summary of Significant Differences of Corporate Governance Practices.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B16H_Z1KNRGI8Q800000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16H. Mine Safety Disclosure</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="B16I_9Z7U2V8OAO00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections&#160;</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Not applicable.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">220</span></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div><div id="Normadiv78" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 20pt 0pt 10pt; page-break-after: avoid; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bp3_EJCP0N3CN400000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">PART III</span></a></div>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bi17_CQYWHF68CG00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 17. Financial Statements</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We have responded to Item 18 in lieu of responding to this Item.</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI18_500MEBIXXS00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 18. Financial Statements</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">See our audited consolidated financial statements beginning on page F-1.&#160;</span></p>
<div style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="BI19_ATY62HY8HC00000000000000000000" class="customBookmark"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 19. Exhibits</span></a></div>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">We are filing the following documents as part of this annual report on Form 20-F:</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Exhibit</span></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">1.1</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="ex11_1.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">By-Laws of Cosan S.A.</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.1</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010311004101/dp26408_ex0205.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Indenture dated November</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">5, 2010 among Cosan Overseas Limited, Cosan S.A. Ind&#250;stria e Com&#233;rcio, The Bank of New York Mellon, as Trustee, New York Paying Agent, Transfer Agent and Registrar, The Bank of New York Mellon (London Branch), as London Paying Agent and The Bank of New York Mellon (Luxembourg) S.A., as Paying Agent and Transfer Agent (incorporated by reference to Exhibit 2.5 of Cosan Limited&#8217;s annual report on For</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">m 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2011).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.2</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000119312517139811/d567821dex22.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Indenture dated June</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">20, 2016 among Cosan Luxembourg S.A., Cosan S.A. Ind&#250;stria e Com&#233;rcio, Deutsche Bank Trust Company, as Trustee, New York Paying Agent, Transfer Agent and Registrar and Deutsche Bank Luxembourg S.A., as Luxembourg Paying Agent (incorporated by reference to Exhibit 2.2 of Cosan Limited&#8217;s annual report on Form 2</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">0</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2016).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.3</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000119312518138511/d489582dex23.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Indenture dated September</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">20, 2017 among Cosan Limited and U.S. Bank National Association, as Trustee, Principal Paying Agent, Registrar and Transfer Agent (incorporated by reference to Exhibit 2.3 of Cosan Limited&#8217;s annual report on Form 2</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">0</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2017).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.4</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/0001402902/000119312520154411/d880563dex24.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Indenture dated July</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2019 among Cosan Limited and U.S. Bank National Association, as Trustee, Principal Paying Agent, Registrar and Transfer Agent (incorporated by reference to Exhibit 2.4 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2019).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.5</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="ex25_2.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">First Supplemental Indenture dated February</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">18, 2021 among Cosan Limited and U.S. Bank National Association, as Trustee, Principal Paying Agent, Registrar and Transfer Agent to the Indenture dated July</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2019 among Cosan Limited and U.S. Bank National Association, as Trustee, Principal Paying Agent, Registrar and Transfer Agent.</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.6</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="ex26_3.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Second S</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">upplemental Indenture dated May</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2, 2022 among Cosan S.A. and U.S. Bank National Association, as Trustee, Principal Paying Agent, Registrar and Transfer Agent to the Indenture dated July</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 2019 among Cosan Limited and U.S. Bank National Association, as Trustee, Principal Paying Agent, Registrar and Transfer Agent.</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.7</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="ex27_4.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Description of Securities.</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.8</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000119380521000264/e620319_ex99-a.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Form of Deposit Agreement among Cosan S.A., J.P. Morgan Chase Bank N.A., as depositary, and the holders from time to time of American depositary shares issued thereunder, including the form of American depositary receipts (incorporated by reference to Exhibit 99(a) to the Registration Statement on Form F</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">6 (file no. 333-253471)</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;"> filed with the SEC on February</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">24, 2021).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">2.9</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000119380521000620/e620567_ex99-a2.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Amendment No. 1 to the Deposit Agreement among Cosan S.A., J.P. Morgan Chase Bank N.A., as depositary, and the holders from time to time of American depositary shares issued thereunder, including the form of American depositary receipts (incorporated by reference to Exhibit 99(a)(2) </span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">to the Registration Statement on Form F-6 POS (file no. 333-253471) filed with the SEC on May 7, 2021)</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">.</span></a></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">221</span></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;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Exhibit Number</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Exhibit</span></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.1</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010309001389/dp13783_6ka.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Agreement for the Sale and Purchase of all of the Member Interests in Parent Co-Operative</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">1 and Pa</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">rent Co-Operative</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">2 dated April</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">23, 2008, between ExxonMobil International Holdings B.V., as vendor, and the registrant&#8217;s subsidiaries Cosan S.A. Ind&#250;stria e Com&#233;rcio and Usina da Barra S.A. A&#231;&#250;car e &#193;lcool, as purchasers* (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.3 of Cosan Limited's Amendment to its Current Report filed on Form 6</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">K/A on June</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">10, 2009).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.2</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010310002826/dp19189_ex0403.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Framework Agr</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">eement dated August</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">25, 2010 among Cosan S.A. Ind&#250;stria e Com&#233;rcio, Cosan Distribuidora de Combust&#237;veis S.A., Cosan Limited, Houches Holdings S.A., Shell Brasil Limitada, Shell Brazil Holding B.V., Shell Overseas Holdings Limited and Milim&#233;trica Participa&#231;&#245;es S.A., or Framework Agreement (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.3 of Cosan Limited&#8217;s annual report on For</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">m 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2010).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.3</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010311004101/dp26408_ex0404.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">First Amendment to the Framewo</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">rk Agreement, dated as of April</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">7, 2011 (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.4 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2011).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.4</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010311004101/dp26408_ex0405.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Second Amendment to the Framework Agreement, dated as of June</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">1, 2011 (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.5 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2011).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.5</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000119312518138511/d489582dex45.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Third Amendment to the Framewo</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">rk Agreement, dated as of March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">21, 2012 (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.5 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F f</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">or the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2017).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.6</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 10px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex46_5.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Amendment and Restatement Deed to the Joint Venture Agreement among Cosan S.A., Cosan Investimentos e Participa&#231;&#245;es S.A., Ra&#237;zen S.A., Shell Brazil Holding B.V. and Shell Overseas Holdings Limited dated as of July 11, 2021.</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.7</span></p>
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<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010311004101/dp26408_ex0407.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Operating and Co</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">ordination Agreement dated June</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">1, 2011 relating to Ra&#237;zen Energia Participa&#231;&#245;es S.A., Ra&#237;zen Combust&#237;veis S.A. and Ra&#237;zen S.A. (incorporated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.7 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2011).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.8</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 10px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex48_6.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Seventh Amendment to the Shareholders&#8217; Agreement of Ra&#237;zen S.A. dated as of July 11, 2021.</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.9</span></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010312003853/dp31840_ex0410.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Term Loan among Cosan Cayman Limited, certain Lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent for the Lenders dated April</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">1, 2011 (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.10 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2012).</span></a></p>
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<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.10</span></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010313004606/dp39681_ex0411.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Share Purchase Agreement for the acquisition of Comma Oil &amp; Chemicals Limited dated February</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">29,</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">2012, between Esso Petroleum Company, Limited and Cosan S.A. Ind&#250;stria e Com&#233;rcio (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.11 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2013).</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; width: 8.01308%;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.11</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; width: 1.22649%;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; width: 90.6787%;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1402902/000095010313004606/dp39681_ex0412.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Share Purchase Agreement for the </span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">acquisition of Comg&#225;s dated May</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">28, 2012, between Integra Investments B.V., BG Energy Holdings Limited, Provence Participa&#231;&#245;es S.A. and Cosan S.A. Ind&#250;stria e Com&#233;rcio (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.12 of Cosan Limited&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended March</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2013).</span></a></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">222</span></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 532px;" width="100%">
<thead>
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<th style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 31px;">
<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Exhibit Number</span></p>
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<p style="line-height: 9pt; margin: 1pt 0pt 2pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Exhibit</span></p>
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</thead>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px; width: 8%;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.12</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px; width: 1%;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px; width: 91%;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000155485521000173/ex413_3.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Deed of Merger Cosan Limited and Cosan S.A. (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.13 of Cosan S.A.&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2020).</span></a></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.13</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000155485521000173/ex414_4.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">English translation of the Merger and Justification Protocol between Cosan Limited and Cosan S.A. (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.14 of Cosan S.A.&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2020).</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.14</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000155485521000173/ex415_5.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">English translation of the Merger and Justification Protocol between Cosan Log&#237;stica and Cosan S.A. (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.15 of Cosan S.A.&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2020).</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.15</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000155485521000173/ex416_6.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Fifth</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;"> amendment, dated as of October</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">28, 2020, to the Shareholders Agreement of Ra&#237;zen Com</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">bust&#237;veis S.A. dated as of June</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">1, 2011 (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">4.16 of Cosan S.A.&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2020).</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">4.16</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex416_7.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">English translation of the </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Protocol and Justification of Merger of Cosan Investimentos e Participa&#231;&#245;es S.A. into Cosan S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> dated as of October 27, 2021.</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">8.1</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex81_8.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Subsidiaries of the Registrant.</span></a></p>
</td>
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<tr style="height: 25px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">11.1</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="http://www.sec.gov/Archives/edgar/data/1430162/000155485521000173/ex111_8.htm"><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">Code of Ethics (incor</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">porated by reference to Exhibit</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">11.1 of Cosan S.A.&#8217;s annual report on Form 20</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#8209;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">F for the year ended December</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">&#160;</span><span style="color: #0000ff; font-family: 'Times New Roman'; font-size: 10pt; text-decoration: underline;">31, 2020).</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">12.1</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex121_9.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certification pursuant to section 302 of the Sarbanes</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#8209;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Oxley Act of 2002 of the Chief Executive Officer.</span></a></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">12.2</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex122_10.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certification pursuant to section 302 of the Sarbanes-Oxley Act of 2002 of the Chief Financial Officer.&#160;</span></a></p>
</td>
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<tr style="height: 25px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">13.1</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex131_11.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certification pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, of the Chief Executive Officer.</span></a></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">13.2</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><a href="ex132_12.htm" class="LinkedExhibit" style="-sec-extract: exhibit;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Certification pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, of the Chief Financial Officer.</span></a></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">13.3</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Financial Statements f</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">or the fiscal years ended March</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">31, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">2</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 202</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">1</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> and 20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">20</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> of Ra&#237;zen </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">S.A</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.**</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">101.INS </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">XBRL Instance Document</span></p>
</td>
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<tr style="height: 25px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">101.SCH </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">XBRL Taxonomy Extension Schema Document</span></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">101.CAL </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;"><br/></td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 25px;">
<p style="margin: 0pt 0pt 6pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">XBRL Taxonomy Extension Calculation Linkbase Document</span></p>
</td>
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<p style="margin: 0pt 0pt 5pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">*</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Portions of this item have been omitted pursuant to a request for confidential treatment.</span></p>
<p style="margin: 0pt 0pt 5pt 18pt; text-indent: -18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">**</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Since the fiscal year of these companies differ </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">from</span><span style="font-family: 'Times New Roman'; font-size: 10pt;"> those of </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Cosan S.A.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, the financial statements will be filed at a later date.</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURES</span></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.&#160;</span></p>
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<p style="margin: 0pt 0pt 20pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">COSAN S.A.</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">By:</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Name:</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Title:</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160; &#160; &#160; </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">Chief Financial Officer</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">Date: </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">May </span><span style="font-family: 'Times New Roman'; font-size: 10pt;">13</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-size: 10pt; font-weight: bold;">Contents&#160;</span><br/></p>
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<td id="BM_Baa1_XZ2N6HUA0W00000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Baa1_XZ2N6HUA0W00000000000000000000">Management&#8217;s Annual Report on Internal Control over Financial Reporting</a></td>
<td class="bmpageno" id="BMP_Baa1_XZ2N6HUA0W00000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-2</td>
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<td id="BM_Baa2_HKJTM258G000000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Baa2_HKJTM258G000000000000000000000">Report of Independent Registered Public Accounting Firm &#8211; PCAOB ID <ix:nonNumeric contextRef="D20211231_5" name="dei:AuditorFirmId" id="Tag6818">1448</ix:nonNumeric></a></td>
<td class="bmpageno" id="BMP_Baa2_HKJTM258G000000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-3</td>
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<td style="width: 93.9494%; height: 17px;"><a href="#Bkpmg_DHAAGQYOYO00000000000000000000">Report of Independent Registered Public Accounting Firm &#8211; PCAOB ID 1124</a></td>
<td class="bmpageno" id="BMP_Bkpmg_DHAAGQYOYO00000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-8</td>
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<td id="BM_Babs_8Y0VE7OZ7K00000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Babs_8Y0VE7OZ7K00000000000000000000">Consolidated statement of financial position</a></td>
<td class="bmpageno" id="BMP_Babs_8Y0VE7OZ7K00000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-9</td>
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<td id="BM_Bais_A9M6N9J5Y800000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Bais_A9M6N9J5Y800000000000000000000">Consolidated statement of profit or&#160;loss and other comprehensive income</a></td>
<td class="bmpageno" id="BMP_Bais_A9M6N9J5Y800000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-11</td>
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<td id="BM_Baeq_VB6IFWR0AO00000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Baeq_VB6IFWR0AO00000000000000000000">Consolidated statement of changes in equity</a></td>
<td class="bmpageno" id="BMP_Baeq_VB6IFWR0AO00000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-13</td>
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<td id="BM_Bacf_JXJWO1RVJK00000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Bacf_JXJWO1RVJK00000000000000000000">Consolidated statement of cash flows</a></td>
<td class="bmpageno" id="BMP_Bacf_JXJWO1RVJK00000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-16</td>
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<td id="BM_Bant_XLSU6MF2U800000000000000000000" style="width: 93.9494%; height: 17px;"><a href="#Bant_XLSU6MF2U800000000000000000000">Notes to the consolidated financial statements</a></td>
<td class="bmpageno" id="BMP_Bant_XLSU6MF2U800000000000000000000" style="width: 5.88716%; height: 17px; text-align: right; padding: 0px 20px 0px 0px;">F-19</td>
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<td class="pgno" style="padding: 0px; text-align: center; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt;" class="pageno">F-1</span></td>
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<div style="margin: 0pt; text-align: center;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" id="Baa1_XZ2N6HUA0W00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Management&#8217;s Annual Report on Internal Control over Financial Reporting</span></b></span></a><br/></div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">The management of Cosan S.A. (the &#8220;Company&#8221;) is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. The Company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The Company&#8217;s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding perception or timely detection of unauthorized acquisition, use or disposition of the Company&#8217;s assets that could have a material effect on the financial statements.&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of the changes in conditions.</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt;">Management assessed the effectiveness of the Company&#8217;s internal control over financial reporting as of December 31, 2021, based on the criteria set forth in Internal Control - Integrated Framework 2013 issued by the Committee of Sponsoring Organization of the Treadway Commission (COSO). Based on that assessment management has concluded that as of December 31, 2021, the Company&#8217;s internal control over financial reporting is ineffective due to a material weakness in our internal control over financial reporting.<span style="font-family: 'times new roman', times; font-size: 10pt;"> The material weakness identified was that management controls were insufficient to detect deficiencies in information technology, or &#8220;IT,&#8221; general controls over management systems access and monitoring of jobs that also affected the effectiveness of automated and IT-dependent business process controls. Such deficiencies in the aggregate gave rise to a material weakness in our internal control environment.</span>&#160;This material weakness did not result in actual misstatements as certain mitigating actions were taken by our management to complete the analysis of our financial reporting prior to year-end, such that there were no impacts in our consolidated financial statements as of December 31, 2021.</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 35.45pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;">Management assessment of the effectiveness of the Company&#8217;s internal control over financial reporting as of December 31, 2021 has been audited by Ernst &amp; Young Auditores Independentes S.S., the Company&#8217;s independent registered public accounting firm, as stated in their report which appears herein.&#160;&#160;</span><br/></p>
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<p style="text-indent: 0in; margin: 0in 0in 0.0001pt; text-align: justify; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">S&#227;o Paulo, Brazil</span></p>
<p style="text-indent: 0in; margin: 0in 0in 0.0001pt; text-align: justify; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">May 13, 2022</span></p>
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<p style="text-align: center; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">/s/ Luis Henrique Cals de Beauclair Guimar&#227;es</span></p>
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<p style="text-align: center; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">/s/ Ricardo Lewin</span></p>
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<p style="text-align: center; text-indent: 0in; border: none; padding: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">Luis Henrique Cals de Beauclair Guimar&#227;es</span></p>
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<p style="text-align: center; text-indent: 0in; border: none; padding: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ricardo Lewin</span></p>
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<p style="text-align: center; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Executive Officer</span></p>
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<p style="text-align: center; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">Chief Financial and Investor Relations Officer</span></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="mso-ansi-language: EN-US;">&#160;</span></b></span></p>
<div style="margin: 0pt 9.65pt 0pt 0pt; text-align: left;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Baa2_HKJTM258G000000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Report of Independent Registered Public Accounting Firm</span></a></div>
<p style="margin: 0pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; color: #000000; font-size: 10pt; line-height: inherit;">To the Shareholders and the Board of Directors of</span></p>
<p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="color: #000000; line-height: inherit;">Cosan S.A.</span></b><span style="color: #000000; line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">&#160;</span></b></span></p>
<p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="color: #000000; line-height: inherit;">Opinion on the Financial Statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">&#160;</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">We have audited the accompanying consolidated statement of financial position of Cosan S.A. (the Company) as of December 31, 2021 and 2020, the related consolidated statements of profit or loss and other comprehensive income<strong>,</strong>&#160;changes in equity and cash flows for each of the two years in the period ended December 31, 2021, and the related notes (collectively referred to as the &#8220;consolidated financial statements&#8221;). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2021 and 2020, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2021, in conformity with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board - IASB.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; color: #000000; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt; line-height: inherit;">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December&#160;31,&#160;2021, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated May 13, 2022, expressed an adverse opinion thereon.</span></p>
<p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; color: #000000; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">Basis for Opinion</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; line-height: inherit;">These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company&#8217;s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span><span style="line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</span></p>
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<p style="margin: 0px; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="mso-ansi-language: EN-US;"><br/></span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">Critical Audit Matters</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</span></p>
<p style="margin: 0px; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1; text-align: left; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"><b><span><br/></span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1; text-align: center;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; font-size: 10pt; line-height: inherit; margin: 0px; text-align: left; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"><b><span>Recognition of unbilled revenue of gas delivered to customers</span></b></span><br/></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000;"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><br/></span></p>
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<p style="text-align: justify; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>Description of the&#160;<span style="mso-bidi-font-style: italic;"></span></span></i></span><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>Matter<span style="mso-bidi-font-style: italic;"></span></span></i><span></span></span></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As described in Notes 6.3 and 19 to the consolidated financial statements, revenue recognized each period includes an estimated amount of unbilled revenue of gas delivered to customers. The recognition of revenue on unbilled gas sales requires the Company to estimate gas delivered to the various customer segments as a different tariff applies to each customer segment. The Company estimates unbilled gas delivered to each customer segment based on historical consumption patterns and the corresponding revenues is recognized by multiplying the estimated unbilled gas per customer segment by the corresponding tariff. At December 31, 2021, the unbilled revenue and related accounts receivable amounted to R$975,588 thousand.</span></p>
<p style="margin-right: 16.1pt; text-align: justify; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin-right: 16.1pt; text-align: justify; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Auditing the unbilled revenue was especially challenging due to the high degree of auditor judgement required to assess the Company&#8217;s processes of estimating the unbilled gas delivered by customer segments, which involves significant judgement and assumptions.</span></p>
<p style="margin-right: 16.1pt; mso-add-space: auto; text-align: justify; mso-pagination: widow-orphan; mso-layout-grid-align: auto; punctuation-wrap: hanging; text-autospace: ideograph-numeric ideograph-other; mso-vertical-align-alt: auto; mso-element: frame; mso-element-frame-hspace: 7.05pt; mso-element-wrap: around; mso-element-anchor-vertical: paragraph; mso-element-anchor-horizontal: margin; mso-element-left: center; mso-element-top: 23.9pt; mso-height-rule: exactly;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>How We Addressed the Matter in O<span style="mso-bidi-font-style: italic;">ur Audit</span></span></i></span></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;">We obtained an understanding, evaluated the design and tested the operating effectiveness of the controls over the process of estimating the unbilled revenue, including the controls related to the allocation of gas volumes per customer segment and the applied regulated tariffs. </span><span style="color: #000000; line-height: inherit;">We considered the results of our tests of controls in our other audit procedures. </span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; color: #000000; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">We inspected, on a sample basis, the documentation of the historical consumption of gas per customer segments and the data used in the calculation of unbilled revenue by segment, and we compared with the related tariffs determined by regulatory agency. We performed an independent estimation based on historical data provided by the Company and compared it with the estimated of volume by segment calculated by the Company. To the extent possible, we compared the estimated unbilled volumes by customer segment used in the calculation of unbilled volumes as of December 31, 2021, to actual volumes subsequently measured. We also evaluated the corresponding disclosures in Notes 6.3 and 19.</span></p>
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<p style="margin: 0px; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><i><span style="color: windowtext; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><br/></span></i></b></span></p>
<p style="margin: 0px; text-align: center; font-size: 12pt; font-family: 'Times New Roman', 'serif'; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><span><b><span>Concession rights and contract assets related to the distribution of gas</span></b> </span></b></span></p>
<p style="margin: 0px; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><i><span style="color: windowtext; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">&#160;</span></i></b></span></p>
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<p style="text-align: justify; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>Description of the&#160;<span style="mso-bidi-font-style: italic;"></span></span></i></span><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-bookmark: _Hlk47345467;"><i style="mso-bidi-font-style: normal;"><span>Matter<span style="mso-bidi-font-style: italic;"></span></span></i></span><span style="mso-bookmark: _Hlk47345467;"><span></span></span></span></p>
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<p style="margin: 0px; vertical-align: baseline; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"><span style="line-height: inherit;">As disclosed in Notes 11.2 and 11.3 to the consolidated financial statements, at December 31, 2021, the Company recorded concession rights and contract assets related to the distribution of gas in the amounts of R$8,953,495 thousand and R$</span></span><span style="line-height: inherit;"><span style="line-height: inherit;">684,970</span></span><span style="line-height: inherit;"><span style="line-height: inherit;"> thousand, respectively, which, substantially represent, the concession infrastructure assets. </span></span></span></p>
<p style="margin: 0px; vertical-align: baseline; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;">&#160;</span></span></p>
<p style="margin: 0px; vertical-align: baseline; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;">Auditing the Company&#8217;s concession rights and contract assets was challenging due to the significant amounts involved and judgement applied by management in the determination of which expenditures are eligible and should be capitalized and the estimated expected useful life of these assets.</span></span></p>
<p style="margin: 0px; vertical-align: baseline; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"><br/></span></span></p>
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<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-bookmark: _Hlk47345467;"><i style="mso-bidi-font-style: normal;"><span>How We Addressed the Matter in O<span style="mso-bidi-font-style: italic;">ur Audit</span></span></i></span><span style="mso-bookmark: _Hlk47345467;"><span></span></span></span></p>
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<p style="margin: 0px; vertical-align: baseline; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; text-indent: 0px; padding-left: 0px; padding-right: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;"><span style="line-height: inherit;">We obtained an understanding, evaluated the design and tested the operating effectiveness of the controls over the Company&#8217;s </span></span><span style="line-height: inherit;"><span style="line-height: inherit;">concession rights and contract assets</span></span><span style="line-height: inherit;"><span style="line-height: inherit;">, including controls over the criteria applied for costs capitalization, allocation of indirect costs, comparison of capitalized costs with historical data and controls over management&#8217;s review of the significant assumptions underlying the measurement and accounting of these assets. We considered the results of our tests of controls in our other audit procedures. We inspected the concession agreements to evaluate indemnifiable amounts recorded by the Company. We inspected correspondence between the Company and the grantor authority throughout the year. We compared the capitalized costs with historical data; and we tested a sample of expenditures capitalized. We also evaluated the corresponding disclosures in Notes 11.2 and 11.3.</span></span></span></p>
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<p style="text-align: center; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: black; mso-ansi-language: EN-US; mso-fareast-language: PT-BR;"><br/></span></b></p>
<p style="text-align: center; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-size: 12.0pt; font-family: 'Arial','sans-serif'; color: black; mso-ansi-language: EN-US; mso-fareast-language: PT-BR;"><br/></span></b></p>
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<p style="margin: 0px; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; text-indent: 0px; text-align: center;"><span style="text-decoration: underline;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: windowtext; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; text-decoration: underline;">Business combination</span></b></span></span></p>
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<p style="text-align: justify; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>Description of the&#160;<span style="mso-bidi-font-style: italic;"></span></span></i></span><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>Matter<span style="mso-bidi-font-style: italic;"></span></span></i><span></span></span></p>
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<p style="margin: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif'; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">As disclosed in Note 9.3.1 to the consolidated financial statements, the Company acquired, on November 3, 2021, the control of agricultural property management companies of Grupo Radar for R$1,572,352 thousand and recorded this business combination using the acquisition method, having determined a gain on bargain purchase of R$416,268 thousand.</span></p>
<p style="margin: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif'; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif'; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Auditing this business combination was specifically challenging due to the significant estimation and judgment involved in the Company&#8217;s identification and determination of the fair value of the assets acquired and the liabilities assumed and the consequent determination of gain on bargain purchase.</span></p>
<p style="margin: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif'; padding-left: 0px; padding-right: 0px; text-indent: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><br/></span></p>
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<p style="margin: 0px; text-align: justify; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i style="mso-bidi-font-style: normal;"><span>How We Addressed the Matter in O<span style="mso-bidi-font-style: italic;">ur Audit</span></span></i><span></span></span></p>
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<p style="margin: 0px; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', 'serif'; text-indent: 0px; padding-left: 0px; padding-right: 0px; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="line-height: inherit;">We obtained an understanding, evaluated the design and tested the operating effectiveness of controls <span style="color: #000000; line-height: inherit;">over the accounting for the business combination. We considered the results of our tests of controls in our other audit procedures.</span><span style="color: #444444; line-height: inherit;"> </span></span><span style="line-height: inherit;">Such procedures included, among others: i) the performance of audit procedures on the opening balances of the acquired company on the acquisition date as part of the determination of the fair value of the assets acquired and the liabilities assumed; ii) review of the alignment of the accounting practices of the Company with those of the acquired company; and iii) the involvement of our corporate finance specialists to assist us in assessing the assumptions and methodologies used by management for measurement and recognition of the fair value of assets acquired and liabilities assumed and the gain on bargain purchase. We also evaluated the corresponding disclosures in Note 9.3.1.</span></span></p>
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<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
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<td style="width: 100%; height: 17px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">/s/ </span><span style="border-right: none; border-left: none;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><ix:nonNumeric contextRef="D20211231_5" name="dei:AuditorName" id="Tag7114">Ernst &amp; Young Auditores Independentes S.S.</ix:nonNumeric></span></span></td>
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<td style="width: 100%; height: 17px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">We have served as the<span>&#160;</span></span><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Company&#8216;</span><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">s auditor since 2020.</span></td>
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<td style="width: 100%; height: 17px;"><span style="border-right: none; border-left: none;"><ix:nonNumeric contextRef="D20211231_5" name="dei:AuditorLocation" id="Tag7113">S&#227;o Paulo, Brazil</ix:nonNumeric><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span></span></td>
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<td style="width: 100%; height: 17px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">May 13, 2022</span></td>
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<p style="margin: 0pt; orphans: 0; text-align: justify; widows: 0;"><img src="imga1bfa9668c57472598db.jpg" alt="Graphics"></img></p>
<p style="margin: 0px; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;"><br/></span></b></span></p>
<p style="margin: 0in 9.65pt 0.0001pt 0in; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">Report<span style="line-height: inherit;"> of Independent Registered Public Accounting Firm</span></span></b><span style="line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: black; line-height: inherit;">&#160;</span></p>
<p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; color: #000000; font-size: 10pt; line-height: inherit;">To the Shareholders and the Board of Directors of</span></p>
<p style="text-align: justify; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="color: #000000; line-height: inherit;">Cosan S.A.</span></b><span style="color: #000000; line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">Opinion on Internal Control over Financial Reporting</span></b><span style="color: black; line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">We have audited Cosan S.A.&#8217;s internal control over financial reporting as of December 31, 2021, based on criteria established in Internal Control &#8212; Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria). In our opinion, because of the effect of the material weakness described below on the achievement of the objectives of the control criteria, Cosan S.A. (the Company) has not maintained effective internal control over financial reporting as of December 31, 2021, based on the COSO criteria.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><span style="color: #000000; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; line-height: inherit;">A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company&#8217;s annual or interim financial statements will not be prevented or detected on a timely basis. The following material weakness has been identified and included in management&#8217;s assessment. Management has identified a material weakness related to the execution of certain information technology general controls (ITGC) over management systems access and monitoring of jobs that also affected the effectiveness of automated and IT-dependent business process controls, to fully address the requirements of the COSO criteria.</span><span style="line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2021 and 2020, the&#160;related consolidated statements of profit or loss and other comprehensive income, changes in equity, and cash flows for each of the two years in the period ended December 31, 2021, and the&#160;related notes and our report dated May 13, 2022 expressed an unqualified opinion thereon.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">Basis for Opinion</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: Arial, 'sans-serif'; line-height: inherit;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">The Company&#8217;s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management&#8217;s Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company&#8217;s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span> </span></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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 12pt; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.</span></p>
<p style="margin: 0px; line-height: 1.1; font-size: 12pt; font-family: 'Times New Roman', 'serif'; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">&#160;</span></b></span></p>
<p style="margin: 0in 0in 8pt; line-height: 1.1; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;"><b><span style="line-height: inherit;">Definition and Limitations of Internal Control Over Financial Reporting</span></b><span style="line-height: inherit;"></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements. </span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: Arial, 'sans-serif'; color: #000000; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif'; line-height: 1.1;"><span style="font-family: 'times new roman', times; font-size: 9pt; line-height: inherit;"><span style="color: #000000; font-size: 10pt; line-height: inherit;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate</span><span style="line-height: inherit;"><span style="font-size: 10pt; line-height: inherit;">.</span></span></span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; font-size: 9pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; color: #000000; font-size: 9pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt;">/s/ Ernst &amp; Young Auditores Independentes S.S.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt;">We have served as the Company&#8216;s auditor since 2020.</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt;">S&#227;o Paulo, Brazil</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 10pt;">&#160;</span></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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 10pt; font-family: 'times new roman', times; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">May 13, 2022</span></p>
<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', 'serif';"><span style="font-family: Arial, 'sans-serif'; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-size: 9pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-7</span></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 9.65pt 0pt 0pt; orphans: 0; widows: 0;"><br/></p>
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<td style="width: 100%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-size: 10pt; font-family: 'times new roman', times; font-weight: bold;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">KPMG&#160;Auditores&#160;Independ</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">entes&#160;Ltda.</span></span></td>
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<p style="color: #222222; font-family: Arial, Helvetica, sans-serif; font-size: small; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0px; line-height: 14pt; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Avenida Presidente Vargas, 2.121</span></p>
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<p style="color: #222222; font-family: Arial, Helvetica, sans-serif; font-size: small; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Salas 1401 a 1405, 1409 e 1410 - Jardim Am&#233;rica</span></p>
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<p style="color: #222222; font-family: Arial, Helvetica, sans-serif; font-size: small; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Edif&#237;cio Times Square Business</span></p>
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<td style="width: 100%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px;"><span style="color: #222222; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP 14020-260 - Ribeir&#227;o Preto/SP - Brasil</span></td>
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<td style="width: 100%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px;"><span style="color: #222222; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Caixa Postal 457 - CEP 14001-970 - Ribeir&#227;o Preto/SP - Brasil</span></td>
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<td style="width: 100%; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; height: 17px;"><span style="color: #222222; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Telefone +55 (16) 3323-6650, Fax +55 (16) 3323-6651</span></td>
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<p style="margin: 0in 0in 0.0001pt; line-height: normal; font-size: 10pt; font-family: Arial, 'sans-serif';"><span style="mso-bidi-font-weight: bold;"><span style="font-family: 'times new roman', times;">kpmg.com.br</span> </span></p>
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<div style="margin: 10pt 0pt; color: #000000; text-align: left;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bkpmg_DHAAGQYOYO00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Report of Independent Registered Public Accounting Firm</span></a></div>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; line-height: 12pt; font-size: 10pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">To the Shareholders and the Board of Directors</span></p>
<p style="text-align: justify; margin: 0in 0in 10pt; line-height: 12pt; font-size: 10pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan S.A.</span></p>
<p style="text-align: justify; margin: 0in 0in 5pt; line-height: 12pt; break-after: avoid; font-size: 10pt; font-family: Arial, 'sans-serif'; font-style: italic;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><span>Opinion on the Consolidated Financial Statements</span></b></span></p>
<p style="text-align: justify; margin: 0in 0in 10pt; line-height: 12pt; font-size: 10pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-bidi-font-family: Arial;">We have audited the accompanying consolidated statements of profit or loss and other comprehensive income, changes in equity, and cash flows of Cosan S.A. and subsidiaries (the</span><span> </span><span style="mso-bidi-font-family: Arial;">Company</span><span>)</span><span style="mso-bidi-font-family: Arial;"> for the year ended December&#160;31, 2019, and the related notes (collectively, the consolidated financial statements</span><span>).</span><span style="mso-bidi-font-family: Arial;"> In our opinion, the consolidated financial statements present fairly, in all material respects, the results of the Company&#8217;s operations and its cash flows for the year ended December&#160;31, 2019, in conformity with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). </span></span></p>
<p style="text-align: justify; margin: 0in 0in 5pt; line-height: 12pt; break-after: avoid; font-size: 10pt; font-family: Arial, 'sans-serif'; font-style: italic;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><span>Revisions due to changes in segment reporting and earnings per share</span></b></span></p>
<p style="text-align: justify; margin: 0in 0in 5pt; line-height: 12pt; break-after: avoid; font-size: 10pt; font-family: Arial, 'sans-serif'; font-style: italic;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-bidi-font-family: Arial; mso-bidi-font-weight: normal; font-style: normal;">As discussed in Notes 5 and 18 of the consolidated financial statements, the Company has retrospectively revised segment reporting and earnings per share, respectively.</span><span style="font-style: normal;"></span></span></p>
<p style="text-align: justify; margin: 10pt 0pt; line-height: 12pt; break-after: avoid; font-size: 10pt; font-family: Arial, 'sans-serif'; font-style: italic; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><span>Basis for Opinion</span></b></span></p>
<p style="text-align: justify; margin: 0in 0in 10pt; line-height: 12pt; font-size: 10pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-bidi-font-family: Arial;">These consolidated financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) </span><span>(</span><span style="mso-bidi-font-family: Arial;">PCAOB</span><span>)</span><span style="mso-bidi-font-family: Arial;"> and are required to be independent with respect to the Company in accordance with the U.S.</span><span> </span><span style="mso-bidi-font-family: Arial;">federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span><span></span></span></p>
<p style="text-align: justify; margin: 0in 0in 10pt; line-height: 12pt; font-size: 10pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;">We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion.</span><span></span></p>
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<td style="width: 100%;"><span style="font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">/s/ KPMG</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Auditores</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Independentes</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Ltda.</span></span></td>
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<td style="width: 100%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">We served as the Company&#8217;s auditor from 2015 to 2020.</span></td>
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<td style="width: 100%;"><span style="font-size: 10pt;">S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Paulo, SP, Brazil</span></span></td>
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<td style="width: 100%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">May 28, 2020, except as to Notes 3.3, 5 and 18 which are as of May 13, 2022</span></td>
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<p style="margin: 0pt 9.65pt 0pt 0pt; orphans: 0; widows: 0;"><br/></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-8</span></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="Normadiv5" style="font-family: 'times new roman', times; font-size: 10pt;">
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<div style="margin: 0pt; text-align: right;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none;" href="#TOC" id="Babs_8Y0VE7OZ7K00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of financial position</span></a></div>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian reais - R$)</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_LTB0MSXT3K00000000000000000000b">
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
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</tr>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 67%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 5%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.1</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag363" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,174,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag439" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,642,918</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.2</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ShorttermDepositsNotClassifiedAsCashEquivalents" unitRef="BRL" id="Tag440" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,372,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ShorttermDepositsNotClassifiedAsCashEquivalents" unitRef="BRL" id="Tag438" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.3</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentTradeReceivables" unitRef="BRL" id="Tag416" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,580,776</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentTradeReceivables" unitRef="BRL" id="Tag373" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,007,140</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.10</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag344" decimals="-3" scale="3" format="ixt:num-dot-decimal">194,878</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag436" decimals="-3" scale="3" format="ixt:num-dot-decimal">587,894</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inventories </span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span>8</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Inventories" unitRef="BRL" id="Tag364" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,149,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Inventories" unitRef="BRL" id="Tag435" decimals="-3" scale="3" format="ixt:num-dot-decimal">935,264</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.5</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag458" decimals="-3" scale="3" format="ixt:num-dot-decimal">98,280</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag367" decimals="-3" scale="3" format="ixt:num-dot-decimal">680,049</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentTaxAssetsCurrent" unitRef="BRL" id="Tag320" decimals="-3" scale="3" format="ixt:num-dot-decimal">442,957</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentTaxAssetsCurrent" unitRef="BRL" id="Tag433" decimals="-3" scale="3" format="ixt:num-dot-decimal">316,452</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current tax receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span>7</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag428" decimals="-3" scale="3" format="ixt:num-dot-decimal">921,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag386" decimals="-3" scale="3" format="ixt:num-dot-decimal">785,367</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividend receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 1pt; text-align: center; text-indent: -1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DividendsReceivable1" unitRef="BRL" id="Tag449" decimals="-3" scale="3" format="ixt:num-dot-decimal">519,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DividendsReceivable1" unitRef="BRL" id="Tag361" decimals="-3" scale="3" format="ixt:num-dot-decimal">80,755</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.9</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:CurrentSectorFinancialAssets" unitRef="BRL" id="Tag6389" decimals="-3" scale="3" format="ixt:num-dot-decimal">489,601</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:CurrentSectorFinancialAssets" unitRef="BRL" id="Tag430" decimals="-3" scale="3" format="ixt:num-dot-decimal">241,749</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.4</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherCurrentFinancialAssets" unitRef="BRL" id="Tag452" decimals="-3" scale="3" format="ixt:num-dot-decimal">466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherCurrentFinancialAssets" unitRef="BRL" id="Tag429" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherCurrentAssets" unitRef="BRL" id="Tag366" decimals="-3" scale="3" format="ixt:num-dot-decimal">348,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherCurrentAssets" unitRef="BRL" id="Tag354" decimals="-3" scale="3" format="ixt:num-dot-decimal">419,045</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total current assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag443" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,293,183</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag427" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,434,868</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.3</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentTradeReceivables" unitRef="BRL" id="Tag381" decimals="-3" scale="3" format="ixt:num-dot-decimal">165,077</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentTradeReceivables" unitRef="BRL" id="Tag426" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,301</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.2</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:LongtermDepositsNotClassifiedAsCashEquivalents" unitRef="BRL" id="Tag414" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:LongtermDepositsNotClassifiedAsCashEquivalents" unitRef="BRL" id="Tag395" xsi:nil="true"></ix:nonFraction> &#8212;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.2</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentRestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag456" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentRestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag450" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,562</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred tax assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">15</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag372" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,051,628</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag424" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,900,241</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.5</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag454" decimals="-3" scale="3" format="ixt:num-dot-decimal">318,211</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag329" decimals="-3" scale="3" format="ixt:num-dot-decimal">249,641</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt 0pt 0pt 1pt; text-align: center; text-indent: -1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentTaxAssetsNoncurrent" unitRef="BRL" id="Tag453" decimals="-3" scale="3" format="ixt:num-dot-decimal">344,059</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentTaxAssetsNoncurrent" unitRef="BRL" id="Tag407" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,543</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current tax receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;">7</p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag406" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,879,695</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag421" decimals="-3" scale="3" format="ixt:num-dot-decimal">957,671</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Judicial deposits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">16</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermDeposits" unitRef="BRL" id="Tag451" decimals="-3" scale="3" format="ixt:num-dot-decimal">923,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermDeposits" unitRef="BRL" id="Tag420" decimals="-3" scale="3" format="ixt:num-dot-decimal">875,842</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.10</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag413" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,538,048</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag328" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,552,806</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.9</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:NonCurrentSectorFinancialAssets" unitRef="BRL" id="Tag359" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,709</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:NonCurrentSectorFinancialAssets" unitRef="BRL" id="Tag358" xsi:nil="true"></ix:nonFraction>&#8212;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherNoncurrentAssets" unitRef="BRL" id="Tag360" decimals="-3" scale="3" format="ixt:num-dot-decimal">179,598</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherNoncurrentAssets" unitRef="BRL" id="Tag418" decimals="-3" scale="3" format="ixt:num-dot-decimal">278,918</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.4</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherNoncurrentFinancialAssets" unitRef="BRL" id="Tag448" decimals="-3" scale="3" format="ixt:num-dot-decimal">319,727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherNoncurrentFinancialAssets" unitRef="BRL" id="Tag455" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in associates </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">9</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag447" decimals="-3" scale="3" format="ixt:num-dot-decimal">780,067</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag417" decimals="-3" scale="3" format="ixt:num-dot-decimal">383,851</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in joint ventures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">10</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag422" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,936,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag384" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,988,208</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">11.1</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag445" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,648,553</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag415" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,068,506</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contract asset </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">11.3</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag444" decimals="-3" scale="3" format="ixt:num-dot-decimal">705,982</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag400" decimals="-3" scale="3" format="ixt:num-dot-decimal">695,938</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right-of-use assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">11.4</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag327" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,947,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag331" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,916,230</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment property</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">11.5</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag405" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag409" xsi:nil="true"></ix:nonFraction>&#8212;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Intangible assets and goodwill&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">11.2</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag442" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,781,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag412" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,308,439</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total non-current assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag365" decimals="-3" scale="3" format="ixt:num-dot-decimal">70,548,840</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag401" decimals="-3" scale="3" format="ixt:num-dot-decimal">60,278,697</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 24px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 24px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 24px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 24px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 24px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Assets" unitRef="BRL" id="Tag343" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,842,023</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 24px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 24px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 24px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Assets" unitRef="BRL" id="Tag396" decimals="-3" scale="3" format="ixt:num-dot-decimal">83,713,565</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 24px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div style="border-left: none; border-right: none;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-9</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<p style="margin: 0pt; text-align: right;"><br/></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-size: 10pt; font-weight: bold;">Consolidated statement of financial position</span></span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian reais - R$)</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_IAUMRPZSAO00000000000000000000b">
<table cellpadding="0" style="height: 739px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 66%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 5%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.6</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ShorttermBorrowings" unitRef="BRL" id="Tag441" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,241,368</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ShorttermBorrowings" unitRef="BRL" id="Tag459" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,929,069</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.7</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:FinanceLeaseLiabilitiesCurrent" unitRef="BRL" id="Tag6563" decimals="-3" scale="3" format="ixt:num-dot-decimal">405,820</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:FinanceLeaseLiabilitiesCurrent" unitRef="BRL" id="Tag6564" decimals="-3" scale="3" format="ixt:num-dot-decimal">531,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.10</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag460" decimals="-3" scale="3" format="ixt:num-dot-decimal">925,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag425" decimals="-3" scale="3" format="ixt:num-dot-decimal">321,890</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.8</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers" unitRef="BRL" id="Tag6388" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,253,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers" unitRef="BRL" id="Tag353" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,630,054</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employee benefits payables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag423" decimals="-3" scale="3" format="ixt:num-dot-decimal">552,991</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag346" decimals="-3" scale="3" format="ixt:num-dot-decimal">336,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax payables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentTaxLiabilitiesCurrent" unitRef="BRL" id="Tag403" decimals="-3" scale="3" format="ixt:num-dot-decimal">71,224</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentTaxLiabilitiesCurrent" unitRef="BRL" id="Tag374" decimals="-3" scale="3" format="ixt:num-dot-decimal">386,122</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other taxes payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">14</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6562" decimals="-3" scale="3" format="ixt:num-dot-decimal">536,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag335" decimals="-3" scale="3" format="ixt:num-dot-decimal">417,326</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentDividendPayables" unitRef="BRL" id="Tag380" decimals="-3" scale="3" format="ixt:num-dot-decimal">799,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentDividendPayables" unitRef="BRL" id="Tag378" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,413,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Concessions payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">13</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:CurrentConcessionsPayables" unitRef="BRL" id="Tag322" decimals="-3" scale="3" format="ixt:num-dot-decimal">160,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:CurrentConcessionsPayables" unitRef="BRL" id="Tag356" decimals="-3" scale="3" format="ixt:num-dot-decimal">158,705</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.4</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag333" decimals="-3" scale="3" format="ixt:num-dot-decimal">287,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag375" decimals="-3" scale="3" format="ixt:num-dot-decimal">307,080</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.9</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:CurrentSectorFinancialLiabilities" unitRef="BRL" id="Tag323" decimals="-3" scale="3" format="ixt:num-dot-decimal">85,866</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:CurrentSectorFinancialLiabilities" unitRef="BRL" id="Tag408" decimals="-3" scale="3" format="ixt:num-dot-decimal">91,912</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherCurrentFinancialLiabilities" unitRef="BRL" id="Tag6567" decimals="-3" scale="3" format="ixt:num-dot-decimal">726,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherCurrentFinancialLiabilities" unitRef="BRL" id="Tag399" decimals="-3" scale="3" format="ixt:num-dot-decimal">562,763</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherCurrentLiabilities" unitRef="BRL" id="Tag382" decimals="-3" scale="3" format="ixt:num-dot-decimal">909,956</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherCurrentLiabilities" unitRef="BRL" id="Tag369" decimals="-3" scale="3" format="ixt:num-dot-decimal">460,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total current liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag379" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,957,036</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag377" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,546,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.6</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag394" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,417,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag397" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,320,391</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.7</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:FinanceLeaseLiabilitiesNonCurrent" unitRef="BRL" id="Tag398" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,861,858</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:FinanceLeaseLiabilitiesNonCurrent" unitRef="BRL" id="Tag391" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,470,437</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> payable in subsidiaries </span></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: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag390" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag389" decimals="-3" scale="3" format="ixt:num-dot-decimal">387,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.10</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag437" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag404" decimals="-3" scale="3" format="ixt:num-dot-decimal">124,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other taxes payable </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">14</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag388" decimals="-3" scale="3" format="ixt:num-dot-decimal">146,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag368" decimals="-3" scale="3" format="ixt:num-dot-decimal">149,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision for legal proceedings </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">16</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag431" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,644,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag434" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,360,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Concessions payable </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">15</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:NoncurrentConcessionsPayables" unitRef="BRL" id="Tag6571" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,477</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:NoncurrentConcessionsPayables" unitRef="BRL" id="Tag324" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,824,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherNoncurrentFinancialLiabilities" unitRef="BRL" id="Tag345" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherNoncurrentFinancialLiabilities" unitRef="BRL" id="Tag362" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,425</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Post-employment benefits </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">23</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag351" decimals="-3" scale="3" format="ixt:num-dot-decimal">669,475</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag350" decimals="-3" scale="3" format="ixt:num-dot-decimal">728,734</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred tax liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">15</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxLiabilities" unitRef="BRL" id="Tag387" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,818,056</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:DeferredTaxLiabilities" unitRef="BRL" id="Tag370" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,691,132</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">6.9</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:NonCurrentSectorFinancialLiabilities" unitRef="BRL" id="Tag348" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,286,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:NonCurrentSectorFinancialLiabilities" unitRef="BRL" id="Tag330" decimals="-3" scale="3" format="ixt:num-dot-decimal">473,999</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred revenue </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" unitRef="BRL" id="Tag349" decimals="-3" scale="3" format="ixt:num-dot-decimal">36,440</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" unitRef="BRL" id="Tag371" decimals="-3" scale="3" format="ixt:num-dot-decimal">43,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherNoncurrentLiabilities" unitRef="BRL" id="Tag457" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,090,112</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherNoncurrentLiabilities" unitRef="BRL" id="Tag410" decimals="-3" scale="3" format="ixt:num-dot-decimal">742,818</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total non-current liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag6570" decimals="-3" scale="3" format="ixt:num-dot-decimal">56,014,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag334" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,347,704</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag383" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,972,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag432" decimals="-3" scale="3" format="ixt:num-dot-decimal">62,894,698</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Shareholders&#8217; equity </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">17</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share capital </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:IssuedCapital" unitRef="BRL" id="Tag446" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,365,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:IssuedCapital" unitRef="BRL" id="Tag332" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Treasury shares </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:TreasuryShares" unitRef="BRL" id="Tag402" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,064</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TreasuryShares" unitRef="BRL" id="Tag393" xsi:nil="true"></ix:nonFraction>&#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additional paid-in capital </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:AccumulatedAdjustmentsOfAdditionalPaidinCapital" unitRef="BRL" id="Tag6561" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,690,235</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:AccumulatedAdjustmentsOfAdditionalPaidinCapital" unitRef="BRL" id="Tag6796" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,007,356</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Accumulated other comprehensive loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:AccumulatedOtherComprehensiveIncome" unitRef="BRL" id="Tag419" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">521,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:AccumulatedOtherComprehensiveIncome" unitRef="BRL" id="Tag326" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,524,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Retained earnings </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:RetainedEarnings" unitRef="BRL" id="Tag411" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,655,992</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:RetainedEarnings" unitRef="BRL" id="Tag347" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,771,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity attributable to: </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag321" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,740,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag385" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,260,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">9.2</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag357" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,129,085</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag376" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,558,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total shareholders&#8217; equity </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Equity" unitRef="BRL" id="Tag325" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,870,022</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Equity" unitRef="BRL" id="Tag355" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,818,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total shareholders&#8217; equity and liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:EquityAndLiabilities" unitRef="BRL" id="Tag392" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,842,023</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:EquityAndLiabilities" unitRef="BRL" id="Tag352" decimals="-3" scale="3" format="ixt:num-dot-decimal">83,713,565</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div>
<div id="t_ft_FNSFEKWHU800000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-10</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><br/></p>
<p><br/></p>
</div>
</div><div id="Normadiv6" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0pt; text-align: right;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none; pointer-events: none;" href="#TOC" id="Bais_A9M6N9J5Y800000000000000000000" class="customBookmark"><span style="font-size: 10pt; font-weight: bold;">Consolidated statement of profit or&#160;</span><span style="font-size: 10pt; font-weight: bold;">loss and other comprehensive income</span></a><br/></div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">, </span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_LVW7OHB0J400000000000000000000b">
<table cellpadding="0" style="height: 708px; border-collapse: collapse; margin: 0px 0px 0px 0.1px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 5.0041%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 (restated Note 3.3 and 18)</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 <span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(restated Note 3.3 and 18)</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">19</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:Revenue" unitRef="BRL" id="Tag569" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,865,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:Revenue" unitRef="BRL" id="Tag535" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:Revenue" unitRef="BRL" id="Tag496" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">20</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag513" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,864,248</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; margin: 0px; text-indent: 0px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag566" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,999,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag317" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,616,985</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gross profit </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag515" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,000,753</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag485" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,438,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag319" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,994,424</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">21</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:SellingExpenses" unitRef="BRL" id="Tag487" decimals="-3" scale="3" format="ixt:num-dot-decimal">723,419</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:SellingExpenses" unitRef="BRL" id="Tag506" decimals="-3" scale="3" format="ixt:num-dot-decimal">661,907</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:SellingExpenses" unitRef="BRL" id="Tag570" decimals="-3" scale="3" format="ixt:num-dot-decimal">666,114</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">21</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag559" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,572,357</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag554" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,589,819</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag472" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,236,062</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income, net&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 21px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">21</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag462" decimals="-3" scale="3" format="ixt:num-dot-decimal">382,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag541" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,869</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag471" decimals="-3" scale="3" format="ixt:num-dot-decimal">404,686</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Operating expenses </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag573" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,913,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag318" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,074,857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag572" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,497,490</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit before equity in earnings of </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> investees, finance results and income taxes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag548" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,087,577</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 12.0591%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag537" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,363,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag477" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,496,934</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="display: inline; border-left: none; border-right: none;">9</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag534" decimals="-3" scale="3" format="ixt:num-dot-decimal">130,225</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag474" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,801</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag313" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,231</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 21px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">10</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag562" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,590,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag551" decimals="-3" scale="3" format="ixt:num-dot-decimal">583,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag524" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,131,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity in earnings of investees </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag469" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,720,856</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag505" decimals="-3" scale="3" format="ixt:num-dot-decimal">611,802</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6715" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,132,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag538" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag491" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,727,561</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag499" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,690,578</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag508" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,258,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag481" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag517" decimals="-3" scale="3" format="ixt:num-dot-decimal">974,604</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag310" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,099,536</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag492" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,258,656</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag558" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,946</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net effect of derivatives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag463" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">188,956</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag567" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,594,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag563" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,275,297</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Finance results, net </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">22</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag533" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,557,557</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag312" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag476" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit before income taxes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag546" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,250,876</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag464" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,990,961</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag504" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,661,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Income taxes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="display: inline; border-left: none; border-right: none;">15</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CurrentTaxExpenseIncome" unitRef="BRL" id="Tag542" decimals="-3" scale="3" format="ixt:num-dot-decimal">787,602</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CurrentTaxExpenseIncome" unitRef="BRL" id="Tag526" decimals="-3" scale="3" format="ixt:num-dot-decimal">941,363</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CurrentTaxExpenseIncome" unitRef="BRL" id="Tag521" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,000,057</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DeferredTaxExpenseIncome" unitRef="BRL" id="Tag490" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,233,186</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DeferredTaxExpenseIncome" unitRef="BRL" id="Tag497" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">438,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:DeferredTaxExpenseIncome" unitRef="BRL" id="Tag543" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">220,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.977%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag495" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">445,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0591%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag531" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.977%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag575" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,596</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit from continuing operations </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag565" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag532" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag539" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,882,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from discontinued </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> operation, net of tax </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag528" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag500" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag574" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,021</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.9278%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.977%; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag498" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0591%; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag561" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.977%; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag550" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Items that will not be reclassified to profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial (gain) loss on defined benefit plan </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag502" decimals="-3" scale="3" format="ixt:num-dot-decimal">63,382</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag564" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">55,777</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag525" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">117,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Taxes over actuarial (gain) loss on defined benefit plan </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span><span><ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations" unitRef="BRL" id="Tag468" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,550</ix:nonFraction></span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 21px; width: 0.984413%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations" unitRef="BRL" id="Tag556" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">18,964</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations" unitRef="BRL" id="Tag544" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">35,590</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 51.9278%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 5.0041%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; margin: 0pt; text-align: right; height: 17px; width: 11.977%; background-color: #cceeff;"><span style="font-weight: bold;"><span><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" unitRef="BRL" id="Tag509" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,832</ix:nonFraction></span></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 12.0591%; background-color: #cceeff;"><span>(<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" unitRef="BRL" id="Tag518" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,813</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 11.977%; background-color: #cceeff;"><span>(<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" unitRef="BRL" id="Tag571" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">81,712</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Items that are or may be </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> reclassified subsequently to profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag540" decimals="-3" scale="3" format="ixt:num-dot-decimal">89,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag511" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">42,767</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag552" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Loss on cash flow hedge </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges" unitRef="BRL" id="Tag519" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">601,415</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges" unitRef="BRL" id="Tag516" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,099</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxCashFlowHedges" unitRef="BRL" id="Tag547" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">256,486</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 51.9278%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 5.0041%;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag530" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,269</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 12.0591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag501" decimals="-3" scale="3" format="ixt:num-dot-decimal">278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000; width: 11.977%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag493" decimals="-3" scale="3" format="ixt:num-dot-decimal">192</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.984413%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 51.9278%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 5.0041%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" unitRef="BRL" id="Tag478" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">509,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12.0591%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" unitRef="BRL" id="Tag479" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">568,588</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.977%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" unitRef="BRL" id="Tag520" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">228,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.984413%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.06645%; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<div>
<div id="t_ft_KQCJHTY8LC00000000000000000000b">
<p><br/></p>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-11</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of profit or&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">loss and other comprehensive income</span></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
<div id="t_ft_01C09OVN2O00000000000000000000b">
<p><br/></p>
<table cellpadding="0" style="height: 289px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 <span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(restated Note 3.3 and 18)</span></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019<span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10.6667px; float: none; display: inline !important;">(restated Note 3.3 and 18)</span> </span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 52%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total other comprehensive loss, net of tax </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 5%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag512" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">467,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag555" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">605,401</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag315" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">310,218</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; width: 1%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income for the year </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag483" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,228,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag529" decimals="-3" scale="3" format="ixt:num-dot-decimal">882,893</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; margin: 0px; text-indent: 0px; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag545" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,583,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit attributable to: </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag557" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag488" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag465" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,316,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag473" decimals="-3" scale="3" format="ixt:num-dot-decimal">384,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag316" decimals="-3" scale="3" format="ixt:num-dot-decimal">628,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag482" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,577,032</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag522" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag510" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag470" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income attributable to: </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent" unitRef="BRL" id="Tag527" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,932,760</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent" unitRef="BRL" id="Tag480" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent" unitRef="BRL" id="Tag475" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,098,043</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag560" decimals="-3" scale="3" format="ixt:num-dot-decimal">296,234</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag486" decimals="-3" scale="3" format="ixt:num-dot-decimal">741,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag568" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,485,112</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag466" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,228,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag467" decimals="-3" scale="3" format="ixt:num-dot-decimal">882,893</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag503" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,583,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Earnings per share </span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 18 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:BasicEarningsLossPerShare" unitRef="BRLPerShare" id="Tag314" decimals="4" format="ixt:num-dot-decimal">3.4407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:BasicEarningsLossPerShare" unitRef="BRLPerShare" id="Tag311" decimals="4" format="ixt:num-dot-decimal">0.4685</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:BasicEarningsLossPerShare" unitRef="BRLPerShare" id="Tag514" decimals="4" format="ixt:num-dot-decimal">0.7175</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diluted </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DilutedEarningsLossPerShare" unitRef="BRLPerShare" id="Tag523" decimals="4" format="ixt:num-dot-decimal">3.4291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DilutedEarningsLossPerShare" unitRef="BRLPerShare" id="Tag507" decimals="4" format="ixt:num-dot-decimal">0.4637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:DilutedEarningsLossPerShare" unitRef="BRLPerShare" id="Tag484" decimals="4" format="ixt:num-dot-decimal">0.7111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span><span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Earnings per share from continuing operations </span></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span> 18 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:BasicEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag494" decimals="4" format="ixt:num-dot-decimal">3.4407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:BasicEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag536" decimals="4" format="ixt:num-dot-decimal">0.4685</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:BasicEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag549" decimals="4" format="ixt:num-dot-decimal">0.7115</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diluted </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag489" decimals="4" format="ixt:num-dot-decimal">3.4291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag553" decimals="4" format="ixt:num-dot-decimal">0.4637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag461" decimals="4" format="ixt:num-dot-decimal">0.7051</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><br/></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-12</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div id="Normadiv7" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div style="margin: 0 auto;">
<div style="margin: 0pt; text-align: right;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none;" href="#TOC" id="Baeq_VB6IFWR0AO00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of changes in equity</span></a></div>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian reais - R$)</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_4ZNOIYEUAO00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 478px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Share capital </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Additional paid-in capital </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Accumulated other comprehensive loss </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Retained earnings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Equity attributable to owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-controlling interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 29.6798%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 8.00493%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20181231_IssuedCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag768" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.862069%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 7.88177%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20181231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag672" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,112,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 8.37438%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20181231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag806" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">587,173</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 7.88177%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20181231_RetainedEarningsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag742" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,083,974</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 7.88177%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20181231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag635" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,614,403</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 7.88177%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20181231_NoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag787" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,354,953</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 7.88177%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20181231" name="ifrs-full:Equity" unitRef="BRL" id="Tag765" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,969,356</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.985222%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Adjustment on initial application </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> of IFRS 16, net of tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20181231_RetainedEarningsMember_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag583" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">97,971</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20181231_EquityAttributableToOwnersOfParentMember_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag771" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">97,971</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20181231_NoncontrollingInterestsMember_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag659" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">377,420</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20181231_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag749" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">475,391</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20181231_IssuedCapitalMember_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag716" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20181231_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag589" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,112,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20181231_AccumulatedOtherComprehensiveIncomeMember_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag586" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">587,173</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20181231_RetainedEarningsMember_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag785" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,986,003</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20181231_EquityAttributableToOwnersOfParentMember_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag660" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,516,432</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20181231_NoncontrollingInterestsMember_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag605" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,977,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20181231_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6182" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,493,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_RetainedEarningsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag609" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,316,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag599" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,316,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag621" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,577,032</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag700" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other comprehensive income (Note <span style="border-left: none; border-right: none;">17</span>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag762" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">155,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag735" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">155,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag680" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">101,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag689" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">256,486</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag779" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag792" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag798" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,008</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag681" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag706" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">52,189</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag766" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">52,189</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag629" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">29,523</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag775" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">81,712</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag692" decimals="-3" scale="3" format="ixt:num-dot-decimal">118</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag613" decimals="-3" scale="3" format="ixt:num-dot-decimal">118</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag773" decimals="-3" scale="3" format="ixt:num-dot-decimal">74</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag637" decimals="-3" scale="3" format="ixt:num-dot-decimal">192</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_AccumulatedOtherComprehensiveIncomeMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag684" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">218,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_RetainedEarningsMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag751" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,316,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag710" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,098,043</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag754" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,485,112</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag756" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,583,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Transactions with owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Contributions and distributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Capital increase in subsidiary </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="csan:IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" unitRef="BRL" id="Tag690" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" unitRef="BRL" id="Tag722" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends - non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag581" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag593" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag772" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Prescribed dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_RetainedEarningsMember" name="csan:CommonStockDividendsDeclared" unitRef="BRL" id="Tag657" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="csan:CommonStockDividendsDeclared" unitRef="BRL" id="Tag608" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="csan:CommonStockDividendsDeclared" unitRef="BRL" id="Tag6538" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="csan:CommonStockDividendsDeclared" unitRef="BRL" id="Tag591" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,751</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag6991" decimals="-3" scale="3" format="ixt:num-dot-decimal">243,317</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag601" decimals="-3" scale="3" format="ixt:num-dot-decimal">243,317</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share options exercised </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag812" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag760" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag630" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag6996" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,113</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Treasury shares acquired </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:PurchaseOfTreasuryShares" unitRef="BRL" id="Tag670" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,141,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:PurchaseOfTreasuryShares" unitRef="BRL" id="Tag770" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,141,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:PurchaseOfTreasuryShares" unitRef="BRL" id="Tag683" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,141,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share-based payment transactions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions" unitRef="BRL" id="Tag675" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions" unitRef="BRL" id="Tag788" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions" unitRef="BRL" id="Tag614" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total contributions and distributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag6179" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,122,541</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_RetainedEarningsMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag730" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag691" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,110,042</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag761" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">236,655</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; background-color: #cceeff; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-weight: bold;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag791" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,346,697</ix:nonFraction></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Changes in ownership interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.00493%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change of shareholding interest in subsidiary </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag784" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,102,568</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag642" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,102,568</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag6180" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,387,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag727" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,489,942</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 29.6798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total changes in ownership interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 8.00493%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag720" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,102,568</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag620" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,102,568</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag600" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,387,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 10px; width: 7.88177%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag707" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,489,942</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total transactions with owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag697" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,225,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_RetainedEarningsMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag743" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag638" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,212,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag640" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,624,029</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag698" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,836,639</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.985222%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 29.6798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 8.00493%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_IssuedCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag585" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.862069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag814" decimals="-3" scale="3" format="ixt:num-dot-decimal">887,165</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag802" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">805,471</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_RetainedEarningsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag755" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,314,843</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag674" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,401,865</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_NoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag708" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,838,616</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 7.88177%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231" name="ifrs-full:Equity" unitRef="BRL" id="Tag664" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,240,481</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.985222%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
<p style="text-align: justify;"><br/></p>
<div>
<div id="t_ft_JSWP3XEO8W00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-13</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<div>
<p style="margin: 0pt; text-indent: 35.45pt; text-align: right;"><span style="font-size: 10pt; font-weight: bold; text-align: right; font-family: 'times new roman', times;">Consolidated statement of changes in equity</span></p>
</div>
<div style="text-align: right;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian reais - R$)</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_WXC3IGKR0G00000000000000000000b">
<table cellpadding="0" style="height: 365px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Share capital </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Additional paid-in capital </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Accumulated other comprehensive loss </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Retained earnings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Equity attributable to owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-controlling interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 30%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_IssuedCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag746" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag774" decimals="-3" scale="3" format="ixt:num-dot-decimal">887,165</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag685" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">805,471</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_RetainedEarningsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag592" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,314,843</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag704" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,401,865</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_NoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag653" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,838,616</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231" name="ifrs-full:Equity" unitRef="BRL" id="Tag618" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,240,481</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; text-align: left;">
<p style="margin: 0pt; text-indent: 19.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RetainedEarningsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag804" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag677" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag626" decimals="-3" scale="3" format="ixt:num-dot-decimal">628,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag747" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other comprehensive income (Note <span style="border-left: none; border-right: none;">17</span>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag682" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">345,185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag801" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">345,185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag776" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">180,914</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag615" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,099</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag757" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">373,135</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag668" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">373,135</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag646" decimals="-3" scale="3" format="ixt:num-dot-decimal">330,368</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag607" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">42,767</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag588" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">421</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag6539" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">421</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag6992" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,392</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag6540" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,813</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag705" decimals="-3" scale="3" format="ixt:num-dot-decimal">185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag726" decimals="-3" scale="3" format="ixt:num-dot-decimal">185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag797" decimals="-3" scale="3" format="ixt:num-dot-decimal">93</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag676" decimals="-3" scale="3" format="ixt:num-dot-decimal">278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag624" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">718,556</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_RetainedEarningsMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag617" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag625" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag648" decimals="-3" scale="3" format="ixt:num-dot-decimal">741,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag661" decimals="-3" scale="3" format="ixt:num-dot-decimal">882,893</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Transactions with owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Contributions and distributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Capital increase </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="csan:IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" unitRef="BRL" id="Tag728" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" unitRef="BRL" id="Tag712" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends - non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag731" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,951</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag582" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,951</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag789" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,577</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag709" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share options exercised </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag764" decimals="-3" scale="3" format="ixt:num-dot-decimal">272,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag701" decimals="-3" scale="3" format="ixt:num-dot-decimal">272,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag796" decimals="-3" scale="3" format="ixt:num-dot-decimal">272,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RetainedEarningsMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag715" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,402,899</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag717" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,402,899</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag665" decimals="-3" scale="3" format="ixt:num-dot-decimal">111,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag793" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,514,114</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposal of treasury shares </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag627" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,244,638</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag702" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,244,638</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag644" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,376</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag651" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,251,014</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total contributions and distributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag595" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,501,379</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_RetainedEarningsMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag724" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,402,899</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag794" decimals="-3" scale="3" format="ixt:num-dot-decimal">98,480</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag587" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">83,596</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag633" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,884</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Changes in ownership interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change of shareholding interest in subsidiary </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag649" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">381,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag602" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">381,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag663" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,061,797</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag783" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,680,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total changes in ownership interests </span></p>
</td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag693" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">381,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; text-align: left; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; text-align: left; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; text-align: left; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag725" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">381,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; text-align: left; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag808" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,061,797</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; text-align: left; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; border-top: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag758" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,680,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; text-align: left; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 19px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total transactions with owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag748" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,120,191</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_RetainedEarningsMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag714" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,402,899</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag658" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">282,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag713" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,978,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag650" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,695,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; text-align: left;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_IssuedCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag780" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag805" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,007,356</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag811" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,524,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; background-color: #cceeff; text-align: left; vertical-align: middle;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_RetainedEarningsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag632" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,771,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag719" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,260,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_NoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6541" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,558,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Equity" unitRef="BRL" id="Tag623" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,818,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
</div>
</div>
<div style="text-align: right;">
<p style="margin: 0pt; text-align: right;"><br/></p>
<div>
<div id="t_ft_WKCV24F7TC00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-14</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<div style="text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of changes in equity</span></div>
<div>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian reais - R$)</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_1MIY36CH1C00000000000000000000b">
<table cellpadding="0" style="height: 461px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 39px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 39px; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Share capital </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 39px; border-bottom: 1px solid #000000; width: 7.95734%;" valign="bottom"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Treasury shares</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Additional paid-in capital </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Accumulated other comprehensive loss </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Retained earnings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Equity attributable to owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-controlling interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 39px; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_IssuedCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag807" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag577" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,007,356</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6181" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,524,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_RetainedEarningsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag750" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,771,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag703" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,260,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_NoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag576" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,558,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Equity" unitRef="BRL" id="Tag643" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,818,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag641" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag688" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag679" decimals="-3" scale="3" format="ixt:num-dot-decimal">384,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag718" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (Note <span style="border-left: none; border-right: none;">17</span>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag678" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">437,995</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag647" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">437,995</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 1.06645%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag669" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">163,420</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges" unitRef="BRL" id="Tag790" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">601,415</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag763" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag699" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag619" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,831</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" unitRef="BRL" id="Tag781" decimals="-3" scale="3" format="ixt:num-dot-decimal">89,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag816" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,959</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag594" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,959</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag631" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">127</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" unitRef="BRL" id="Tag656" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag799" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,639</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag782" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,639</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;">(<span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag734" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">370</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" unitRef="BRL" id="Tag671" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,269</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag752" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">379,380</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag606" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag815" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,932,760</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag667" decimals="-3" scale="3" format="ixt:num-dot-decimal">296,234</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1px solid #000000; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="csan:ComprehensiveIncomeFromContinuingOperation" unitRef="BRL" id="Tag580" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,228,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Transactions with owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Contributions and distributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Capital increase </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="csan:IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" unitRef="BRL" id="Tag738" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,252,306</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" unitRef="BRL" id="Tag778" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,252,306</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends - non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;">(<span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag696" decimals="-3" scale="3" format="ixt:num-dot-decimal"> 2,493</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;">(<span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag662" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,493</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;">(<span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests" unitRef="BRL" id="Tag736" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,493</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share options exercised </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_TreasurySharesMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag786" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,136</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag729" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag723" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">18,572</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag628" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseThroughExerciseOfOptions" unitRef="BRL" id="Tag813" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,719</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag645" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,866,393</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag737" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,866,393</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag584" decimals="-3" scale="3" format="ixt:num-dot-decimal">164,908</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag745" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,031,301</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9<span style="border-left: none; border-right: none;">.3</span>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="csan:IncreaseDecreaseThroughInBusinessCombinations" unitRef="BRL" id="Tag666" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,115,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughInBusinessCombinations" unitRef="BRL" id="Tag694" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,115,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposal of treasury shares </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_TreasurySharesMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag616" decimals="-3" scale="3" format="ixt:num-dot-decimal">496,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag740" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,825</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag686" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">496,916</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag810" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:SaleOrIssueOfTreasuryShares" unitRef="BRL" id="Tag809" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total contributions and distributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_TreasurySharesMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag695" decimals="-3" scale="3" format="ixt:num-dot-decimal">514,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag622" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">35,376</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag777" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,363,309</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag803" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,883,808</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag655" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,218,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="csan:ContributionsByAndDistributionsToOwnersOfParent" unitRef="BRL" id="Tag753" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,334,997</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Changes in ownership interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 34px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change of shareholding interest in subsidiary </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag590" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,322,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag769" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,322,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag759" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,835,552</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" unitRef="BRL" id="Tag596" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">512,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 0.984413%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total changes in ownership interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag654" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,322,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 8.03938%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag744" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,322,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag800" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,835,552</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7.95734%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" unitRef="BRL" id="Tag578" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">512,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total transactions with owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_TreasurySharesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag739" decimals="-3" scale="3" format="ixt:num-dot-decimal">514,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag721" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,287,340</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 8.03938%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag634" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,363,309</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag795" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">561,092</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 1.06645%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag639" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,383,253</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; width: 7.95734%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag652" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,822,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Predecessor adjustments (Note 3.2)</span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 8.03938%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_IssuedCapitalMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag767" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,360,525</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_TreasurySharesMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag612" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">583,941</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 1.06645%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag579" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,984,931</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 8.03938%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag597" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,381,798</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 8.03938%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_RetainedEarningsMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag732" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,935,735</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_EquityAttributableToOwnersOfParentMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag711" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,109,186</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 1.06645%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_NoncontrollingInterestsMember" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag603" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,109,186</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 1.06645%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: middle; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughPredecessorAdjustments" unitRef="BRL" id="Tag598" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: middle; text-align: left; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; width: 1.06645%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; text-align: left; width: 19.9344%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 8.03938%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_IssuedCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag604" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,365,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_TreasurySharesMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6178" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">69,064</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 1.06645%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag741" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,690,235</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 8.03938%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag687" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">521,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 8.03938%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_RetainedEarningsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag611" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,655,992</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_EquityAttributableToOwnersOfParentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6177" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,740,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 1.06645%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_NoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag636" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,129,085</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: middle; text-align: left; margin: 0px; text-indent: 0px; width: 1.06645%;" valign="middle"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; vertical-align: middle; margin: 0px; text-indent: 0px; width: 7.95734%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Equity" unitRef="BRL" id="Tag673" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,870,022</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; text-align: left; margin: 0px; text-indent: 0px; width: 0.984413%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; text-align: left; width: 1.06645%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
</div>
</div>
<div>
<p style="margin: 0pt; text-align: justify;"><br/></p>
<div>
<div id="t_ft_RQAPXY35G000000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-15</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
</div><div id="Normadiv8" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="margin: 0pt; text-align: right;"><a style="text-decoration: none; color: rgb(0, 0, 0); cursor: default; outline: none;" href="#TOC" id="Bacf_JXJWO1RVJK00000000000000000000" class="customBookmark"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of cash flows</span></a></div>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian reais - R$)</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: Arial; font-size: 12pt;">&#160;</span></p>
<div id="t_ft_G80J3THNKG00000000000000000000b">
<table cellpadding="0" style="height: 735px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 49.7093%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 4.94186%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right; width: 11.7733%;">
<p style="margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right; width: 11.6279%;">
<p style="margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right; width: 11.7733%;">
<p style="margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash flows from operating activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.872093%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit before income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag842" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,250,876</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag865" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,990,961</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag822" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,661,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Adjustments for: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> <span style="border-left: none; border-right: none;">20</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForDepreciationAmortizationAndImpairmentExpense" unitRef="BRL" id="Tag998" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,504,384</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForDepreciationAmortizationAndImpairmentExpense" unitRef="BRL" id="Tag947" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,340,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForDepreciationAmortizationAndImpairmentExpense" unitRef="BRL" id="Tag1025" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,287,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lease and concession (reversal) provision </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForProvisionReversalOfLeaseAndConcession" unitRef="BRL" id="Tag843" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForProvisionReversalOfLeaseAndConcession" unitRef="BRL" id="Tag284" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">379,636</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForProvisionReversalOfLeaseAndConcession" unitRef="BRL" id="Tag931" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">9</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag997" decimals="-3" scale="3" format="ixt:num-dot-decimal">130,225</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag917" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,801</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1010" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,231</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">10</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag992" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,590,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag840" decimals="-3" scale="3" format="ixt:num-dot-decimal">583,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag981" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,131,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (Gain) loss on disposed assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" unitRef="BRL" id="Tag870" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,295</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" unitRef="BRL" id="Tag995" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" unitRef="BRL" id="Tag921" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,045</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share-based payment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForSharebasedPayments" unitRef="BRL" id="Tag1004" decimals="-3" scale="3" format="ixt:num-dot-decimal">53,131</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForSharebasedPayments" unitRef="BRL" id="Tag993" decimals="-3" scale="3" format="ixt:num-dot-decimal">272,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForSharebasedPayments" unitRef="BRL" id="Tag918" decimals="-3" scale="3" format="ixt:num-dot-decimal">101,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Legal proceedings provision </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForProvisions" unitRef="BRL" id="Tag834" decimals="-3" scale="3" format="ixt:num-dot-decimal">263,945</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForProvisions" unitRef="BRL" id="Tag886" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,437</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForProvisions" unitRef="BRL" id="Tag892" decimals="-3" scale="3" format="ixt:num-dot-decimal">102,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest and exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForIndexationChargesInterestAndExchangeNet" unitRef="BRL" id="Tag883" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,911,179</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForIndexationChargesInterestAndExchangeNet" unitRef="BRL" id="Tag889" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,111,772</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForIndexationChargesInterestAndExchangeNet" unitRef="BRL" id="Tag282" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,125,655</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets and liabilities, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.9</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" unitRef="BRL" id="Tag985" decimals="-3" scale="3" format="ixt:num-dot-decimal">246,100</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" unitRef="BRL" id="Tag1009" decimals="-3" scale="3" format="ixt:num-dot-decimal">337,620</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" unitRef="BRL" id="Tag873" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForDeferredRevenue" unitRef="BRL" id="Tag1022" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForDeferredRevenue" unitRef="BRL" id="Tag829" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForDeferredRevenue" unitRef="BRL" id="Tag841" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,271</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provisions for employee benefits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForEmployeeBenefitsProvisions" unitRef="BRL" id="Tag989" decimals="-3" scale="3" format="ixt:num-dot-decimal">358,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForEmployeeBenefitsProvisions" unitRef="BRL" id="Tag936" decimals="-3" scale="3" format="ixt:num-dot-decimal">161,042</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForEmployeeBenefitsProvisions" unitRef="BRL" id="Tag831" decimals="-3" scale="3" format="ixt:num-dot-decimal">229,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Allowance for expected credit losses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForAllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag925" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,813</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForAllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag888" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,098</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForAllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag926" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposal of credit rights </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> <span style="border-left: none; border-right: none;">21</span></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForCreditSalesToThirdParty" unitRef="BRL" id="Tag939" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForCreditSalesToThirdParty" unitRef="BRL" id="Tag859" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">68,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForCreditSalesToThirdParty" unitRef="BRL" id="Tag909" decimals="-3" scale="3" format="ixt:num-dot-decimal">410,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Recovering tax credits </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForRecoveringTaxCredits" unitRef="BRL" id="Tag924" decimals="-3" scale="3" format="ixt:num-dot-decimal">648,315</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForRecoveringTaxCredits" unitRef="BRL" id="Tag943" decimals="-3" scale="3" format="ixt:num-dot-decimal">132,399</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForRecoveringTaxCredits" unitRef="BRL" id="Tag6554" decimals="-3" scale="3" format="ixt:num-dot-decimal">165,398</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss in energy derivative operations </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForLossGainOnEnergyDerivativeOperations" unitRef="BRL" id="Tag853" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,701</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForLossGainOnEnergyDerivativeOperations" unitRef="BRL" id="Tag959" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForLossGainOnEnergyDerivativeOperations" unitRef="BRL" id="Tag6565" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of investment property </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag839" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag970" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag972" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain in a bargain purchase </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">21&#160;&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForGainOnBargainPurchase" unitRef="BRL" id="Tag862" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,268</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForGainOnBargainPurchase" unitRef="BRL" id="Tag907" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForGainOnBargainPurchase" unitRef="BRL" id="Tag6547" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.7733%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<span><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherAdjustmentsToReconcileProfitLoss" unitRef="BRL" id="Tag836" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">23,731</ix:nonFraction></span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.6279%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherAdjustmentsToReconcileProfitLoss" unitRef="BRL" id="Tag948" decimals="-3" scale="3" format="ixt:num-dot-decimal">436,260</ix:nonFraction></span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.7733%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<span><ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherAdjustmentsToReconcileProfitLoss" unitRef="BRL" id="Tag963" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">109,423</ix:nonFraction></span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" unitRef="BRL" id="Tag965" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,809,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" unitRef="BRL" id="Tag905" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,618,275</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" unitRef="BRL" id="Tag1014" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,726,332</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Changes in: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" unitRef="BRL" id="Tag968" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">404,016</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" unitRef="BRL" id="Tag996" decimals="-3" scale="3" format="ixt:num-dot-decimal">67,291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" unitRef="BRL" id="Tag913" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">145,933</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inventories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForDecreaseIncreaseInInventories" unitRef="BRL" id="Tag971" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">245,174</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForDecreaseIncreaseInInventories" unitRef="BRL" id="Tag1012" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">117,166</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForDecreaseIncreaseInInventories" unitRef="BRL" id="Tag1006" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">90,880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current tax, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForOtherCurrentTaxNet" unitRef="BRL" id="Tag974" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,712</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForOtherCurrentTaxNet" unitRef="BRL" id="Tag908" decimals="-3" scale="3" format="ixt:num-dot-decimal">74,949</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForOtherCurrentTaxNet" unitRef="BRL" id="Tag881" decimals="-3" scale="3" format="ixt:num-dot-decimal">179,622</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseInIncomeTaxAndOtherTax" unitRef="BRL" id="Tag1007" decimals="-3" scale="3" format="ixt:num-dot-decimal">950,401</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseInIncomeTaxAndOtherTax" unitRef="BRL" id="Tag1015" decimals="-3" scale="3" format="ixt:num-dot-decimal">868,234</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:IncreaseDecreaseInIncomeTaxAndOtherTax" unitRef="BRL" id="Tag846" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,477</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Related parties, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" unitRef="BRL" id="Tag867" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">111,149</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" unitRef="BRL" id="Tag6558" decimals="-3" scale="3" format="ixt:num-dot-decimal">572,601</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" unitRef="BRL" id="Tag898" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,827</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable" unitRef="BRL" id="Tag6550" decimals="-3" scale="3" format="ixt:num-dot-decimal">591,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable" unitRef="BRL" id="Tag875" decimals="-3" scale="3" format="ixt:num-dot-decimal">167,019</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable" unitRef="BRL" id="Tag887" decimals="-3" scale="3" format="ixt:num-dot-decimal">383,459</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employee benefits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" unitRef="BRL" id="Tag951" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">150,087</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" unitRef="BRL" id="Tag827" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">170,133</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities" unitRef="BRL" id="Tag903" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">198,312</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision for legal proceedings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseInProvisionForLegalProceedings" unitRef="BRL" id="Tag916" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">131,260</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseInProvisionForLegalProceedings" unitRef="BRL" id="Tag919" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">212,699</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:IncreaseDecreaseInProvisionForLegalProceedings" unitRef="BRL" id="Tag945" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">187,292</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities" unitRef="BRL" id="Tag934" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,856</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities" unitRef="BRL" id="Tag984" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">91,935</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities" unitRef="BRL" id="Tag874" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,525</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Judicial deposits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseInJudicialDeposits" unitRef="BRL" id="Tag961" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">58,608</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseInJudicialDeposits" unitRef="BRL" id="Tag6546" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">23,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:IncreaseDecreaseInJudicialDeposits" unitRef="BRL" id="Tag896" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">62,727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Discontinued operation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" unitRef="BRL" id="Tag855" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" unitRef="BRL" id="Tag910" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" unitRef="BRL" id="Tag940" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">17,615</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash received (paid) on disposal of credit rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" unitRef="BRL" id="Tag6551" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" unitRef="BRL" id="Tag1008" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" unitRef="BRL" id="Tag838" decimals="-3" scale="3" format="ixt:num-dot-decimal">410,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax losses acquired </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" unitRef="BRL" id="Tag6566" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">208,118</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" unitRef="BRL" id="Tag872" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" unitRef="BRL" id="Tag929" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Post-employment benefits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" unitRef="BRL" id="Tag1000" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" unitRef="BRL" id="Tag861" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,444</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" unitRef="BRL" id="Tag1018" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,387</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other assets and liabilities, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" unitRef="BRL" id="Tag837" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" unitRef="BRL" id="Tag987" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">238,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" unitRef="BRL" id="Tag849" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">301,931</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 49.7093%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Concessions payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.7733%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AdjustmentsInConcessionsPayable" unitRef="BRL" id="Tag818" decimals="-3" scale="3" format="ixt:num-dot-decimal">168,510</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.6279%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AdjustmentsInConcessionsPayable" unitRef="BRL" id="Tag845" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,947</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.7733%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AdjustmentsInConcessionsPayable" unitRef="BRL" id="Tag866" decimals="-3" scale="3" format="ixt:num-dot-decimal">474</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseInWorkingCapital" unitRef="BRL" id="Tag962" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,662,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseInWorkingCapital" unitRef="BRL" id="Tag1024" decimals="-3" scale="3" format="ixt:num-dot-decimal">961,368</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseInWorkingCapital" unitRef="BRL" id="Tag969" decimals="-3" scale="3" format="ixt:num-dot-decimal">429,595</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.45349%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 49.7093%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net cash from operating activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.872093%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.7733%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsFromUsedInOperatingActivitiesContinuingOperations" unitRef="BRL" id="Tag966" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,147,191</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.6279%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsFromUsedInOperatingActivitiesContinuingOperations" unitRef="BRL" id="Tag882" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,656,907</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 11.7733%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsFromUsedInOperatingActivitiesContinuingOperations" unitRef="BRL" id="Tag820" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,296,737</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.45349%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.59884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 49.7093%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 4.94186%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.872093%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 11.6279%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 11.7733%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.45349%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.59884%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div>
<p><br/></p>
</div>
</div>
<div>
<div id="t_ft_SGA8W70M2800000000000000000000b">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-16</span></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="font-family: 'times new roman', times; font-size: 10pt; text-align: right;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of cash flows</span></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$)</span></p>
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<div id="t_ft_MJI5F634U800000000000000000000b">
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; border-bottom: 1px solid #000000; height: 17px;"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Note</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; border-bottom: 1px solid #000000; height: 17px;"><span style="font-size: 8pt; font-family: 'times new roman', times;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 202</span><span>1</span></span><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; border-bottom: 1px solid #000000; height: 17px;"><span style="font-size: 8pt; font-family: 'times new roman', times;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 20</span><span>20</span></span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; border-bottom: 1px solid #000000; height: 17px;"><span style="font-size: 8pt; font-family: 'times new roman', times;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 201</span><span>9</span></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash flows from investing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 5%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Capital contribution in associates </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><br/></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag830" decimals="-3" scale="3" format="ixt:num-dot-decimal">417,216</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag6555" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,142</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag946" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,113</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition of subsidiary, net of cash acquired </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">9.3</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:BusinessCombinationNetOfCashAcquired" unitRef="BRL" id="Tag824" decimals="-3" scale="3" format="ixt:num-dot-decimal">592,733</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:BusinessCombinationNetOfCashAcquired" unitRef="BRL" id="Tag1016" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:BusinessCombinationNetOfCashAcquired" unitRef="BRL" id="Tag885" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,837</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (Purchase) sale of marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" unitRef="BRL" id="Tag958" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">514,459</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" unitRef="BRL" id="Tag848" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">483,574</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" unitRef="BRL" id="Tag954" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,230,431</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag826" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,313</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag982" decimals="-3" scale="3" format="ixt:num-dot-decimal">124,330</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag901" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends received from associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag964" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag994" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,165</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag844" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends received from joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag942" decimals="-3" scale="3" format="ixt:num-dot-decimal">819,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag891" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,852</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag935" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,462,625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:PurchaseOfOtherFinancialAssets" unitRef="BRL" id="Tag1002" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,168</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:PurchaseOfOtherFinancialAssets" unitRef="BRL" id="Tag980" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:PurchaseOfOtherFinancialAssets" unitRef="BRL" id="Tag1021" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,022</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition of property, plant and equipment, </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> intangible assets and contract assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" unitRef="BRL" id="Tag975" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,774,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" unitRef="BRL" id="Tag937" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,034,688</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" unitRef="BRL" id="Tag6557" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,762,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash from sale of discontinued operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:ProceedsFromDisposalOfDiscontinuedOperations" unitRef="BRL" id="Tag819" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:ProceedsFromDisposalOfDiscontinuedOperations" unitRef="BRL" id="Tag932" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:ProceedsFromDisposalOfDiscontinuedOperations" unitRef="BRL" id="Tag847" decimals="-3" scale="3" format="ixt:num-dot-decimal">432</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition of associates shares </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6560" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" unitRef="BRL" id="Tag823" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,299</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" unitRef="BRL" id="Tag850" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash received on sale of fixed assets, and intangible assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" unitRef="BRL" id="Tag884" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,090</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" unitRef="BRL" id="Tag999" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,045</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" unitRef="BRL" id="Tag952" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,578</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" unitRef="BRL" id="Tag897" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,025</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" unitRef="BRL" id="Tag906" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">194</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" unitRef="BRL" id="Tag851" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net cash used in investing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsFromUsedInInvestingActivitiesContinuingOperations" unitRef="BRL" id="Tag950" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,446,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsFromUsedInInvestingActivitiesContinuingOperations" unitRef="BRL" id="Tag854" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,523,125</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsFromUsedInInvestingActivitiesContinuingOperations" unitRef="BRL" id="Tag933" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">130,592</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash flows from financing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures raised </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="border-left: none; border-right: none;">6.6</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:LoansAndBorrowingsAndDebenturesRaised" unitRef="BRL" id="Tag895" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,548,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:LoansAndBorrowingsAndDebenturesRaised" unitRef="BRL" id="Tag6556" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,336,257</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:LoansAndBorrowingsAndDebenturesRaised" unitRef="BRL" id="Tag1003" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,352,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal on loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="border-left: none; border-right: none;">6.6</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:RepaymentOfPrincipalOnLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag1013" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,925,067</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:RepaymentOfPrincipalOnLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag973" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,397,060</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:RepaymentOfPrincipalOnLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag1026" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,422,026</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest on loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="border-left: none; border-right: none;">6.6</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentOfInterestOfLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag956" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,321,868</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentOfInterestOfLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag828" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,782,976</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:PaymentOfInterestOfLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag1023" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,384,184</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentsForDerivativeFinancialInstruments" unitRef="BRL" id="Tag825" decimals="-3" scale="3" format="ixt:num-dot-decimal">647,168</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentsForDerivativeFinancialInstruments" unitRef="BRL" id="Tag878" decimals="-3" scale="3" format="ixt:num-dot-decimal">61,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:PaymentsForDerivativeFinancialInstruments" unitRef="BRL" id="Tag876" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,986</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receipt of derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:ProceedsFromDerivativeFinancialInstruments" unitRef="BRL" id="Tag835" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,325,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:ProceedsFromDerivativeFinancialInstruments" unitRef="BRL" id="Tag979" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,383,411</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:ProceedsFromDerivativeFinancialInstruments" unitRef="BRL" id="Tag868" decimals="-3" scale="3" format="ixt:num-dot-decimal">251,545</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of non-debt related derivative financial instruments</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentsForDerivativeFinancialInstrumentsExceptDebt" unitRef="BRL" id="Tag6568" decimals="-3" scale="3" format="ixt:num-dot-decimal">227,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentsForDerivativeFinancialInstrumentsExceptDebt" unitRef="BRL" id="Tag978" decimals="-3" scale="3" format="ixt:num-dot-decimal">101,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:PaymentsForDerivativeFinancialInstrumentsExceptDebt" unitRef="BRL" id="Tag900" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receipt of non-debt related derivative financial instruments</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:ProceedsFromDerivativeFinancialInstrumentsExceptDebt" unitRef="BRL" id="Tag860" decimals="-3" scale="3" format="ixt:num-dot-decimal">197,679</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:ProceedsFromDerivativeFinancialInstrumentsExceptDebt" unitRef="BRL" id="Tag879" decimals="-3" scale="3" format="ixt:num-dot-decimal">106,519</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:ProceedsFromDerivativeFinancialInstrumentsExceptDebt" unitRef="BRL" id="Tag953" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal on lease liabilities</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="border-left: none; border-right: none;">6.7</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag894" decimals="-3" scale="3" format="ixt:num-dot-decimal">461,040</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag944" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,424,917</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag864" decimals="-3" scale="3" format="ixt:num-dot-decimal">423,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest on lease liabilities</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="border-left: none; border-right: none;">6.7</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" unitRef="BRL" id="Tag1011" decimals="-3" scale="3" format="ixt:num-dot-decimal">165,301</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" unitRef="BRL" id="Tag911" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,922</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:InterestPaidClassifiedAsFinancingActivities" unitRef="BRL" id="Tag927" decimals="-3" scale="3" format="ixt:num-dot-decimal">249,325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash contribution from non-controlling interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;">2</p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProceedsFromContributionsOfNoncontrollingInterests" unitRef="BRL" id="Tag869" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,252,306</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProceedsFromContributionsOfNoncontrollingInterests" unitRef="BRL" id="Tag899" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,397,772</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProceedsFromContributionsOfNoncontrollingInterests" unitRef="BRL" id="Tag922" decimals="-3" scale="3" format="ixt:num-dot-decimal">453,082</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payments to redeem entity&#8217;s shares and acquisition of treasury shares</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:PaymentsToAcquireOrRedeemEntitysShares" unitRef="BRL" id="Tag852" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,101</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:PaymentsToAcquireOrRedeemEntitysShares" unitRef="BRL" id="Tag832" decimals="-3" scale="3" format="ixt:num-dot-decimal">495,048</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:PaymentsToAcquireOrRedeemEntitysShares" unitRef="BRL" id="Tag990" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,141,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transactions with non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="border-left: none; border-right: none;">6.4</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag6548" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag914" decimals="-3" scale="3" format="ixt:num-dot-decimal">65,478</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag1001" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,192</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition of non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentForAcquisitionOfNoncontrollingInterests" unitRef="BRL" id="Tag817" decimals="-3" scale="3" format="ixt:num-dot-decimal">698,147</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentForAcquisitionOfNoncontrollingInterests" unitRef="BRL" id="Tag871" decimals="-3" scale="3" format="ixt:num-dot-decimal">269,977</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:PaymentForAcquisitionOfNoncontrollingInterests" unitRef="BRL" id="Tag977" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,086,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends paid </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" unitRef="BRL" id="Tag893" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,558,886</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" unitRef="BRL" id="Tag920" decimals="-3" scale="3" format="ixt:num-dot-decimal">546,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" unitRef="BRL" id="Tag960" decimals="-3" scale="3" format="ixt:num-dot-decimal">738,152</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Discontinued operation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_5" name="csan:CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" unitRef="BRL" id="Tag890" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" unitRef="BRL" id="Tag821" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" unitRef="BRL" id="Tag983" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,543</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of share-based compensation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" unitRef="BRL" id="Tag988" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" unitRef="BRL" id="Tag928" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,804</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" unitRef="BRL" id="Tag863" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,961</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" unitRef="BRL" id="Tag283" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,397</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" unitRef="BRL" id="Tag858" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" unitRef="BRL" id="Tag1005" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></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: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net cash from (used in) financing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CashFlowsFromUsedInFinancingActivitiesContinuingOperations" unitRef="BRL" id="Tag6553" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,319,388</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CashFlowsFromUsedInFinancingActivitiesContinuingOperations" unitRef="BRL" id="Tag902" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,686,254</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CashFlowsFromUsedInFinancingActivitiesContinuingOperations" unitRef="BRL" id="Tag967" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,558,376</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net increase in cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag877" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,019,747</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag912" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,820,036</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag6552" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,607,769</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></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: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents at beginning of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag904" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,642,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag930" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,472,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20181231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag976" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,621,798</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of foreign exchange rate changes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag1019" decimals="-3" scale="3" format="ixt:num-dot-decimal">511,465</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag856" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,608</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag1017" decimals="-3" scale="3" format="ixt:num-dot-decimal">242,707</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash and cash equivalents at end of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag857" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,174,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag955" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,642,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag880" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,472,274</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Additional information </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax paid </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncomeTaxesPaidRefund" unitRef="BRL" id="Tag991" decimals="-3" scale="3" format="ixt:num-dot-decimal">462,120</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxesPaidRefund" unitRef="BRL" id="Tag915" decimals="-3" scale="3" format="ixt:num-dot-decimal">592,243</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:IncomeTaxesPaidRefund" unitRef="BRL" id="Tag938" decimals="-3" scale="3" format="ixt:num-dot-decimal">287,451</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
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<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: Arial; font-size: 11pt;">&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accompanying notes are an integral part of these consolidated financial statements.</span></p>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt; text-align: justify;"><br/></p>
<div>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-17</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Consolidated statement of cash flows</span></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 13.3333px; background-color: #ffffff;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$)</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Non-cash transactions</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p><br/></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt 0pt 10pt 58.6pt; padding-left: 12.85pt; text-align: justify; text-indent: 0pt;"><span>Acquisition of assets for the construction of pipeline and assets for logistics operations with payment in installments in the amount of R$<ix:nonFraction contextRef="D20211231_ConstructionInProgressMember" name="csan:PaymentForAcquisitionOfAssetsInInstallments" unitRef="BRL" id="Tag6559" decimals="-3" scale="3" format="ixt:num-dot-decimal">263,143</ix:nonFraction> (R$<ix:nonFraction contextRef="D20201231_ConstructionInProgressMember" name="csan:PaymentForAcquisitionOfAssetsInInstallments" unitRef="BRL" id="Tag833" decimals="-3" scale="3" format="ixt:num-dot-decimal">297,002</ix:nonFraction> and R$<ix:nonFraction contextRef="D20191231_ConstructionInProgressMember" name="csan:PaymentForAcquisitionOfAssetsInInstallments" unitRef="BRL" id="Tag1020" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,632</ix:nonFraction> on December 31, 2020 and 2019, respectively).</span></li>
<li style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt 0pt 10pt 58.6pt; padding-left: 12.85pt; text-align: justify; text-indent: 0pt;"><span>Capital contribution to the subsidiary Payly Solu&#231;&#245;es de Pagamentos S.A. (&#8220;Payly&#8221;) in the amount of R$<ix:nonFraction contextRef="D20211231_PaylySolucoesDePagamentosSaMember" name="csan:CapitalContributionCapitalizationOfExpenses" unitRef="BRL" id="Tag941" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,750</ix:nonFraction>, (R$<ix:nonFraction contextRef="D20201231_PaylySolucoesDePagamentosSaMember" name="csan:CapitalContributionCapitalizationOfExpenses" unitRef="BRL" id="Tag923" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,000</ix:nonFraction> on December 31, 2020), through the capitalization of expenses owed to Cosan S.A..</span></li>
<li style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt 0pt 10pt 58.6pt; padding-left: 12.85pt; text-align: justify; text-indent: 0pt;"><span>Recognition of right-of-use in the amount of R$<ix:nonFraction contextRef="D20211231_NorthSouthRailroadConcessionAgreementMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag949" decimals="-3" scale="3" format="ixt:num-dot-decimal">104,840</ix:nonFraction> (Note 11.4) related to new lease agreements on December 31, 2021 (R$<ix:nonFraction contextRef="D20201231_NorthSouthRailroadConcessionAgreementMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag957" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,522,469</ix:nonFraction> on December 31, 2020).</span></li>
<li style="font-family: 'times new roman', times; font-size: 10pt; margin: 0pt 0pt 10pt 58.6pt; padding-left: 12.85pt; text-align: justify; text-indent: 0pt;"><span>The subsidiary Companhia de G&#225;s de S&#227;o Paulo &#8211; COMG&#193;S (&#8220;Comg&#225;s&#8221;) used tax credits for an amount of R$<ix:nonFraction contextRef="D20201231_CompanhiaDeGasDeSaoPauloMember" name="csan:NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" unitRef="BRL" id="Tag986" decimals="-3" scale="3" format="ixt:num-dot-decimal">262,843</ix:nonFraction> referring to the payment of the annual adjustment for 2020.</span></li>
</ol>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Disclosure of interest and dividends&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company classifies dividends and interest on capital received as cash flow from investing activities.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest paid is classified as cash flow from financing activities.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-18</span></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="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span><a style="text-decoration: none; color: #000000; cursor: default; outline: none;" href="#TOC" id="Bant_XLSU6MF2U800000000000000000000" class="customBookmark">Notes to the consolidated financial statements</a></span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfOperationsAndCorporateReorganizationTextBlock" id="Tag7118" escape="true">
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<li style="font-weight: bold; margin: 0pt 0pt 10pt 10.01pt; padding-left: 2.99pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; margin-left: 30px; font-weight: bold;">Operations and Corporate Reorganization</span></li>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan S.A. (&#8220;Cosan&#8221; and together with its subsidiaries collectively, the &#8220;Company&#8221;) is a publicly traded Company on the B3 S.A. - Brasil, Bolsa, Balc&#227;o, or &#8220;B3,&#8221; on the special New Market (Novo Mercado) segment under the ticker symbol &#8220;CSAN3.&#8221; The Company&#8217;s American Depositary Shares, or &#8220;ADSs,&#8221; are listed on the New York Stock Exchange, or &#8220;NYSE,&#8221; and traded under the symbol &#8220;CSAN.&#8221; Cosan is a corporation (sociedade an&#244;nima) of indefinite term incorporated under the laws of Brazil, with its registered office in the city of S&#227;o Paulo, state of S&#227;o Paulo. Mr. Rubens Ometto Silveira Mello is the ultimate controlling shareholder of Cosan.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Corporate reorganization</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="text-indent: 35.45pt;">On January 22, 2021, the shareholders of </span>Cosan<span style="text-indent: 35.45pt;"> Limited, the former parent company of </span>Cosan<span style="text-indent: 35.45pt;"> S.A. and </span>Cosan<span style="text-indent: 35.45pt;"> </span>Log&#237;stica<span style="text-indent: 35.45pt;">, approved an intra-group reorganization, announced on July 3, 2020, consisting of a merger of companies under common control, as provided by art. 264, paragraph 4, of Brazilian Law No. 6,404, pursuant to which </span>Cosan<span style="text-indent: 35.45pt;"> Limited and </span>Cosan<span style="text-indent: 35.45pt;"> </span>Log&#237;stica<span style="text-indent: 35.45pt;"> were merged into </span>Cosan<span style="text-indent: 35.45pt;"> S.A., or the &#8220;Corporate Reorganization&#8221;</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;As part of an effort to streamline our operations, the Company carried out a corporate reorganization to enhance its corporate structure by making Cosan S.A. the sole holding company of the group. The corporate reorganization simplified the corporate structure, unifying and consolidating the Cosan S.A., Cosan Limited and Cosan Log&#237;stica free floats, in order to increase share liquidity, and unlock value within the Company&#8217;s group portfolio. As part of the corporate reorganization, each of Cosan Limited and Cosan Log&#237;stica were merged into Cosan S.A., being Cosan S.A. the surviving entity. Following the completion of the merger, the outstanding shares of Cosan S.A. are now directly owned by all shareholders of Cosan Limited, Cosan S.A. and Cosan Log&#237;stica as of immediately prior to the completion of the merger. As a result, Cosan S.A. issued American Depositary Shares, or ADSs, listed on the NYSE or common shares listed under the Novo Mercado segment of the B3 to the shareholders of Cosan Limited immediately prior to the approval of the merger. As for Cosan Log&#237;stica, upon completion of the merger, holders of Cosan Log&#237;stica shares immediately prior to the approval of the merger became owners of Cosan S.A. common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following charts set forth simplified representations of our operating structure before and after the corporate reorganization.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><img src="imgd1f63e4e5b88491ca8cd.jpg" alt="Graphics"></img><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Figure 1: Simplified operating structure prior to the merger.</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><img src="img6562d44867de4d62ac7d.jpg" alt="Graphics"></img></span></span></p>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i><span>(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></i></span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Figure 2: Simplified operating structure immediately after the merger.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Merger Protocol also established the exchange ratio for the shares. Each Class A and Class B Shares issued by Cosan Limited and outstanding immediately prior to the consummation of the merger were automatically converted into the right to receive <ix:nonFraction contextRef="I20200703_OrdinarySharesClassAAndClassBMember_CosanSAAmericanDepositaryShareMember" name="csan:NumberOfDepositaryReceiptReceivedFromConversion" unitRef="Shares" id="Tag7126" decimals="11" format="ixt:num-dot-decimal">1.29401595263</ix:nonFraction> Cosan S.A. ADSs. The exchange ratio for the exchange of Cosan Log&#237;stica shares for Cosan S.A. shares is <ix:nonFraction contextRef="D20200703_CosanLogisticaSASharesMember" name="csan:SharesExchangeRatio" unitRef="Shares" id="Tag7125" decimals="11" format="ixt:num-dot-decimal">0.25360679585</ix:nonFraction> Cosan S.A. shares for one Cosan Log&#237;stica share.<br/></span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">This is equivalent to <ix:nonFraction contextRef="D20200703_CosanSAShareOrCosanSAAmericanDepositaryShareMember" name="csan:SharesExchangeRatio" unitRef="Shares" id="Tag7124" decimals="6" format="ixt:num-dot-decimal">0.772788</ix:nonFraction> Cosan Limited shares for each Cosan S.A. share or Cosan S.A. ADS, as applicable, and <ix:nonFraction contextRef="D20200703_CosanSAShareMember" name="csan:SharesExchangeRatio" unitRef="Shares" id="Tag7123" decimals="6" format="ixt:num-dot-decimal">3.943112</ix:nonFraction> Cosan Log&#237;stica shares for each Cosan S.A. share.</span></span></p>
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<p style="text-align: left; margin: 0pt 0pt 8pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">2.&#160; &#160; &#160; &#160; &#160; &#160;Company history</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On March 28, 2019, Rumo S.A. (&#8220;Rumo&#8221;) announced that it won the tender (Bidding No. 02/2018) organized by Brazilian Transportation Authority (<span style="font-style: italic;">Ag&#234;ncia Nacional de Transporte Terrestre</span>), or &#8220;ANTT,&#8221; to operate the railroad network located between the cities of Porto Nacional in the state of Tocantins and Estrela d&#8217;Oeste in the state of S&#227;o Paulo, for a period of <ix:nonNumeric contextRef="D20190328" name="csan:ContractualTerm" id="Tag1031" format="ixt-sec:duryear">30</ix:nonNumeric>&#160;years from the date of signature, which was July 31, 2019. Rumo&#8217;s bid was R$<ix:nonFraction contextRef="I20190328_RumoSAMember_RailroadNetworkMember" name="csan:ContractualBidAmount" unitRef="BRL" id="Tag6477" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,719,530</ix:nonFraction> (R$<ix:nonFraction contextRef="I20190328_RumoSAMember_RailroadNetworkMember" name="csan:ContractualBidAmountAdjustedWithContratualParameters" unitRef="BRL" id="Tag71" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,904,778</ix:nonFraction> adjusted with contractual parameters). The final grant of the concession to Rumo is subject to the completion of the remaining stages of the tender detailed in the tender notice, including an analysis of Rumo&#8217;s licensing documents. Rumo was required to pay: (i) <ix:nonFraction contextRef="I20190328_RumoSAMember_RailroadNetworkMember" name="csan:PercentageOfCashPaymentInAuction" unitRef="Pure" id="Tag6980" decimals="2" scale="-2" format="ixt:num-dot-decimal">5</ix:nonFraction>% of the value of its bid within <ix:nonNumeric contextRef="D20190328_RumoSAMember_RailroadNetworkMember" name="csan:PeriodOfCashPaymentToBeMadeInAuction" id="Tag309" format="ixt-sec:durday">45</ix:nonNumeric>&#160;days of the publication of ANTT&#8217;s final decision, and (ii) the remainder in <ix:nonFraction contextRef="D20190328_RumoSAMember_RailroadNetworkMember" name="csan:NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" unitRef="Installment" id="Tag6497" decimals="INF" format="ixt:num-dot-decimal">120</ix:nonFraction> quarterly installments calculated pursuant to the terms of the concession agreement to be entered into in connection with the concession. This payment, in an amount of R$<ix:nonFraction contextRef="D20190328_RumoSAMember_RailroadNetworkMember" name="csan:PaymentsForAuction" unitRef="BRL" id="Tag6978" decimals="-6" scale="6" format="ixt:num-dot-decimal">145,239</ix:nonFraction> million, was completed on July 24, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 31, 2019, the Sanitation and Energy Regulatory Agency for the state of S&#227;o Paulo (<span style="font-style: italic;">Ag&#234;ncia Reguladora de Energia de S&#227;o Paulo</span>), or &#8220;ARSESP,&#8221; concluded the Fourth Ordinary Tariff Review regarding the update of Comg&#225;s&#8217; tariffs to be applied across all segments from that date. Prices have been adjusted by an amount corresponding to inflation as measured by the General Market Price Index (<span style="font-style: italic;">&#205;ndice Geral de Pre&#231;os - Mercado</span>), or &#8220;IGPM,&#8221; and to reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Exceptionally, applicable regulations allow gas cost adjustment within a period of less than <span style="border-left: none; border-right: none;"><ix:nonNumeric contextRef="D20211231_5" name="csan:MaximumPeriodForGasCostAdjustment" id="Tag6498" format="ixt-sec:durwordsen">one year</ix:nonNumeric></span>, provided that certain criteria are met, due to the difference between gas cost per the tariff and that paid by the concessionaire to its supplier.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On November 1, 2019, Ra&#237;zen S.A. (formerly known as Ra&#237;zen Combust&#237;veis S.A), or &#8220;Ra&#237;zen,&#8221; and FEMSA Comercio, S.A. de C.V., or &#8220;FEMSA Comercio,&#8221; formed a joint venture in the convenience and proximity store business which operates stores under the OXXO brand, called Rede Integrada de Lojas de Conven&#234;ncias e Proximidade S.A., or &#8220;Grupo N&#243;s.&#8221; The enterprise value was R$<ix:nonFraction contextRef="I20191101_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" name="ifrs-full:InvestmentsInJointVentures" unitRef="BRL" id="Tag1034" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,122,000</ix:nonFraction>, with an effect on interest in earnings of joint venture of R$<ix:nonFraction contextRef="D20191101_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" name="csan:GainLossFromFormationOfJointVenture" unitRef="BRL" id="Tag6472" decimals="-3" scale="3" format="ixt:num-dot-decimal">528,967</ix:nonFraction>, resulting from gains related to dilution of shares, sale of shares and the fair value in the formation of this joint venture. The transaction was concluded on November 1, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On January 14, 2020, Cosan S.A. contributed&#160;the shares it owned in Comg&#225;s (<ix:nonFraction contextRef="I20200114_CosanSAMember_ComgasMember_OrdinarySharesMember" name="ifrs-full:SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" unitRef="Shares" id="Tag6974" decimals="0" format="ixt:num-dot-decimal">103,699,333</ix:nonFraction> common shares and <ix:nonFraction contextRef="I20200114_CosanSAMember_ComgasMember_PreferenceSharesMember" name="ifrs-full:SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" unitRef="Shares" id="Tag1028" decimals="0" format="ixt:num-dot-decimal">27,682,044</ix:nonFraction> preferred shares), equivalent to a <ix:nonFraction contextRef="D20200114_CosanSAMember_ComgasMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6469" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.15</ix:nonFraction>% interest in&#160;Comg&#225;s, to the Cosan S.A.&#8217;s wholly owned subsidiary Compass G&#225;s e Energia S.A. (&#8220;Compass G&#225;s e Energia&#8221;), equivalent to R$<ix:nonFraction contextRef="D20200114_CosanSAMember_ComgasMember" name="ifrs-full:IncreaseDecreaseThroughOtherDistributionsToOwners" unitRef="BRL" id="Tag6471" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,861,936</ix:nonFraction>. The transaction was a reorganization of entities under the Company's common control, a such, there were no effects on the Company's consolidated financial statements.</span></p>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On January 30, 2020, the subsidiary Compass Comercializa&#231;&#227;o S.A. acquired control of Compass Comercializadora Ltda., Compass Gera&#231;&#227;o Ltda. and Compass Energia Ltda. for an amount of R$<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" unitRef="BRL" id="Tag6470" decimals="-3" scale="3" format="ixt:num-dot-decimal">99,385</ix:nonFraction> (Note 9.3.2). The purpose of these acquisition was is to enter the electricity and natural gas trading business. On March 9, 2020, Cosan S.A. announced the creation of the new &#8220;Gas and Power,&#8221; segment which created to provide gas and power solutions in Brazil. The Gas and Power segment focuses on <ix:nonFraction contextRef="D20200130_CompassGroupAcquisitionMember_GasAndPowerMember" name="csan:NumberOfPillarsFocusedBySegment" unitRef="Item" id="Tag1029" decimals="INF" format="ixt-sec:numwordsen">four</ix:nonFraction> pillars: (1) infrastructure which brings natural gas from the pre-salt offshore reserves and international markets into Brazil; (2) a distribution system relying on Brazil&#8217;s largest distributor of piped natural gas, i.e., Comg&#225;s; (3) energy generation by converting natural gas into electricity; and (4) trading of gas and electricity to power industries and businesses. On November 30, 2020, the subsidiary Compass Comercializadora Ltda. merged into Compass Comercializa&#231;&#227;o S.A., with Compass Comercializa&#231;&#227;o S.A. being the surviving entity. </span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On April 9, 2020, the Company entered into a shares purchase and derivatives negotiation plan, or the Total Return Swap, with Banco Santander (Brasil) S.A. &#8211; Cayman Branch, or &#8220;Santander Cayman,&#8221; and Santander Fundo de Investimento Amazonas Multimercado Cr&#233;dito Privado Investimento no Exterior, or the &#8220;Santander Fund.&#8221; Pursuant to the Total Return Swap, the Santander Fund will be able to purchase, on its own behalf, common shares issued by the Company, and Santander Cayman will be able to enter into equity swap transactions on its own behalf and on our behalf in connection with such shares (for which purpose we also entered into a master agreement with certain Santander entities). The maximum aggregate amount of derivatives which may be negotiated pursuant to the Total Return Swap and the maximum aggregate number of underlying shares thereunder are R$<ix:nonFraction contextRef="I20200409_BancoSantanderBrasilSAMember_SwapContractForSharesMember" name="csan:MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" unitRef="BRL" id="Tag6972" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,000</ix:nonFraction> and <ix:nonFraction contextRef="I20200409_BancoSantanderBrasilSAMember_SwapContractForSharesMember" name="csan:MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" unitRef="Shares" id="Tag6458" decimals="0" format="ixt:num-dot-decimal">19,500,000</ix:nonFraction>, respectively. On March 1, 2021, the Company settled the Total Return Swap and a new agreement was entered into with&#160;Cosan S.A.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On May 27, 2020, Rumo signed an amendment to the concession agreement relating to Malha Paulista with the ANTT. The amendment was reviewed and authorized by the Federal Accounting Court (<span style="font-style: italic;">Tribunal de Contas da Uni&#227;o</span>), or &#8220;TCU,&#8221; pursuant to a decision issued on May 20, 2020 (TC 009.032/2016-9). Due to the signing of the amendment, the new value of the concession grant is of R$<ix:nonFraction contextRef="I20200527_RumoMalhaPaulistaSAMember" name="csan:NewGrantAmountForSubConcessionContracts" unitRef="BRL" id="Tag6982" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,382,030</ix:nonFraction> (of which R$<ix:nonFraction contextRef="D20200527_RumoMalhaPaulistaSAMember" name="csan:RepaymentOfGrantsForSubConcessionContracts" unitRef="BRL" id="Tag6479" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,823,777</ix:nonFraction> has already been paid), to be paid in quarterly installments over the term of the contract until 2058, with estimated investments of R$<ix:nonFraction contextRef="I20200527_RumoMalhaPaulistaSAMember" name="csan:EstimatedInvestmentsToBeMadeForSubConcessionContracts" unitRef="BRL" id="Tag6416" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,100,000</ix:nonFraction> (as of December 2017) over the same period.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On August 28, 2020, Rumo completed a follow-on offering of common shares as a result of which it raised R$<ix:nonFraction contextRef="D20200828_RumoSAMember_OrdinarySharesMember" name="ifrs-full:ProceedsFromIssuingShares" unitRef="BRL" id="Tag6496" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,400,000</ix:nonFraction> through the issuance of <ix:nonFraction contextRef="I20200828_RumoSAMember_OrdinarySharesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6981" decimals="0" format="ixt:num-dot-decimal">294,252,874</ix:nonFraction> common shares at a price of R$<ix:nonFraction contextRef="D20200828_RumoSAMember_OrdinarySharesMember" name="csan:ShareIssuePrice" unitRef="BRLPerShare" id="Tag1036" decimals="2" format="ixt:num-dot-decimal">21.75</ix:nonFraction> per share. Rumo used the proceeds of the offering to (i) prepay grants due in connection with certain of Rumo&#8217;s concession agreements and (ii) finance several strategic projects that were driven by the recent early renewal of the Malha Paulista concession agreement.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On October 26, 2020, the subsidiary Compass G&#225;s e Energia presented, with the approval of its Board of Directors, a proposal in the competitive divestment process promoted by Petr&#243;leo Brasileiro S.A. &#8211; Petrobras for the sale of the <ix:nonFraction contextRef="D20201026_PetrobrasGasSAGaspetroMember_CompassGasEEnergiaMember" name="csan:PercentageOfInterestInShareCapitalProposedToBeSold" unitRef="Pure" id="Tag7116" decimals="2" scale="-2" format="ixt:num-dot-decimal">51</ix:nonFraction>% interest in the share capital of Petrobras G&#225;s S.A. &#8211; Gaspetro (&#8220;Gaspetro&#8221;). On July 28, 2021, Compass G&#225;s e Energia entered into a share purchase and sale agreement for the acquisition of control of Gaspetro for the amount of R$<ix:nonFraction contextRef="I20201026_PetrobrasGasSAGaspetroMember_CompassGasEEnergiaMember" name="ifrs-full:ContingentConsiderationRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6970" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,030,000</ix:nonFraction>, to be paid at closing, subject to the adjustments provided for in the agreement. The completion of the transaction is subject to the fulfillment of certain suspensive conditions, which include, but are not limited to, the observation of the period for exercising the preemptive right of other shareholders of Gaspetro and its investees and the approval by the competent bodies.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In February 2021, Rumo Malha Central S.A., or &#8220;Rumo Malha Central&#8221;, started its logistic rail service. The operations began with rail connecting between operations of Rumo Malha Paulista S.A., or &#8220;Rumo Malha Paulista&#8221; and Rumo Malha Norte S.A. or &#8220;Rumo Malha Norte.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On May 20, 2021, Ra&#237;zen entered into a renewal of the license agreement for the use of the <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8220;</span>Shell<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;</span> brand with Shell Brands International AG. With this renewal, Ra&#237;zen S.A. keeps the right to use the "Shell" brand, in the fuel distribution sector and related activities in Brazil, for a minimum period of <ix:nonNumeric contextRef="D20210520_ShellBrandsInternationalAGMember_RaizenSAMember" name="csan:MinimumPeriodOfLicenseAgreementToUseBrandName" id="Tag6460" format="ixt-sec:duryear">13</ix:nonNumeric> years, which can be renewed in certain cases, upon compliance with certain conditions established in the contract.</span></p>
<p style="margin: 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><span>On May 31, 2021, the subsidiary Compass G&#225;s e Energia&#160;entered into an investment agreement with Atmos Il&#237;quidos 1 Fundo de Investimento em A&#231;&#245;es, Atmos Master Fundo de Investimento em A&#231;&#245;es, Manzat Inversiones Auu S.A. and Ricardo Ernesto Correa da Silva&#160; (together &#8220;Investors&#8221;), through which the Investors agreed to jointly subscribe <ix:nonFraction contextRef="I20210513_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_CompassGasEEnergiaMember" name="csan:NumberOfPreferredSharesAgreedToBeSubscribed" unitRef="Shares" id="Tag6501" decimals="0" format="ixt:num-dot-decimal">30,853,032</ix:nonFraction> preferred shares issued by Compass G&#225;s e Energia S.A. (&#8220;Compass&#8221;), representing <ix:nonFraction contextRef="I20210513_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_CompassGasEEnergiaMember" name="csan:PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" unitRef="Pure" id="Tag6418" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.68</ix:nonFraction>% of its share capital, for an amount of R$<ix:nonFraction contextRef="I20210513_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_CompassGasEEnergiaMember" name="csan:ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" unitRef="BRL" id="Tag6976" decimals="-3" scale="3" format="ixt:num-dot-decimal">810,000</ix:nonFraction>. In compliance with one of the contractual conditions, on August 12, 2021, Compass G&#225;s e Energia was listed with the Brazilian stock Exchange B3. The investment agreement was concluded with the financial settlement by the Investors on August 27, 2021. On September 4, 2021, Compass entered into a second investment agreement with Bradesco Vida e Previd&#234;ncia S.A. (&#8220;Bradesco&#8221;), BC Gest&#227;o de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda., for the issuance subscription of new preferred shares for a total amount of R$<ix:nonFraction contextRef="I20210904_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_CompassGasEEnergiaMember" name="csan:PreferredSharesAgreedToBeSubscribed" unitRef="BRL" id="Tag6971" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,440,000</ix:nonFraction>&#160;representing <ix:nonFraction contextRef="I20210904_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_CompassGasEEnergiaMember" name="csan:PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" unitRef="Pure" id="Tag6488" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.68</ix:nonFraction>% of share capital. On September 10, 2021, the first financial settlement of the investment made by Bradesco was concluded, via capital increase in Compass in the amount of R$<ix:nonFraction contextRef="I20210910_BradescoVidaEPrevidenciaSAMember" name="ifrs-full:IssuedCapitalPreferenceShares" unitRef="BRL" id="Tag6500" decimals="-3" scale="3" format="ixt:num-dot-decimal">810,015</ix:nonFraction> through the issuance of new preferred shares representing <ix:nonFraction contextRef="I20210910_BradescoVidaEPrevidenciaSAMember" name="csan:SharesIssuedAsPercentageOfCapitalStock" unitRef="Pure" id="Tag6467" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.47</ix:nonFraction>% of Compass G&#225;s e Energia share capital. On October 29, 2021, the remaining settlement of the investment was made for a total amount of R$<ix:nonFraction contextRef="I20211029_BradescoVidaEPrevidenciaSAMember" name="ifrs-full:IssuedCapitalPreferenceShares" unitRef="BRL" id="Tag6466" decimals="-3" scale="3" format="ixt:num-dot-decimal">630,000</ix:nonFraction>. The total amount of the contributions made by the non-controlling shareholders was R$<ix:nonFraction contextRef="I20211231_PreferenceSharesClassBMember_CompassGasEEnergiaMember" name="csan:ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" unitRef="BRL" id="Tag72" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,250,015</ix:nonFraction>. See transaction details in Note 9<span>.1</span>.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-21</span></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: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0pt 0pt 8pt; color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><span>On June 1, 2021, the shareholders of&#160;Ra&#237;zen Energia S.A. (&#8220;Ra&#237;zen Energia&#8221;) contributed all the issued shares by Raizen&#160;Energia,&#160;including common shares, class A and D preferred shares, to&#160;Ra&#237;zen <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">S.A. (formerly known as Ra&#237;zen Combust&#237;veis S.A.),&#160;</span>with the exception of <ix:nonFraction contextRef="D20210601_RaizenSAMember" name="csan:NumberOfSharesNotContributedInCapitalIncrease" unitRef="Shares" id="Tag6495" decimals="0" format="ixt-sec:numwordsen">two</ix:nonFraction> common shares that were retained by&#160;Cosan Investimentos e Participa&#231;&#245;es S.A. and Shell Brasil Holding BV (&#8220;Shell&#8221;), On the same date Ra&#237;zen Energia also redeemed all of its own class B preferred shares. As a result, Ra&#237;zen <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">S.A.&#160;</span>became the controlling holding company of Ra&#237;zen Energia&#160;(&#8220;Ra&#237;zen Reorganization&#8221;). As a result of the Raizen Reorganization, Cosan S.A. and Shell terminated the Ra&#237;zen Energia shareholders&#8217; agreement and amended the Ra&#237;zen <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">S.A.&#160;</span>shareholders&#8217; agreement to reflect the effects of the Raizen Reorganization. The Raizen Reorganization did not have any impact in the Company&#8217;s financial statements.&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On June 3, 2021, Ra&#237;zen S.A., completed its registration with the Brazilian Securities Commission (Comiss&#227;o de Valores Mobili&#225;rios), or &#8220;CVM.&#8221; On September 9, 2021, Ra&#237;zen completed and initial public offering (<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8220;</span>IPO<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;</span>) of&#160;<ix:nonFraction contextRef="I20210909_RaizenSAMember_PreferenceSharesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag336" decimals="0" format="ixt:num-dot-decimal">906,712,350</ix:nonFraction> preferred shares at the price of R$<ix:nonFraction contextRef="I20210909_RaizenSAMember_PreferenceSharesMember" name="csan:IssuePricePerShare" unitRef="BRLPerShare" id="Tag6502" decimals="2" format="ixt:num-dot-decimal">7.40</ix:nonFraction> per share with net proceeds of R$<ix:nonFraction contextRef="D20210909_RaizenSAMember_PreferenceSharesMember" name="csan:AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" unitRef="BRL" id="Tag6491" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,599,987</ix:nonFraction> (R$<ix:nonFraction contextRef="D20210909_RaizenSAMember_PreferenceSharesMember" name="ifrs-full:IssueOfEquity" unitRef="BRL" id="Tag1037" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,709,671</ix:nonFraction> net of&#160; R$<ix:nonFraction contextRef="D20210909_RaizenSAMember_PreferenceSharesMember" name="ifrs-full:ShareIssueRelatedCost" unitRef="BRL" id="Tag6493" decimals="-3" scale="3" format="ixt:num-dot-decimal">109,684</ix:nonFraction> issuance costs)<span><span><span>. See the effects of&#160;Ra&#237;zen<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s IPO in the consolidated financial statements in note <span>10</span>.&#160;</span></span></span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On August 10, 2021, Raizen S.A. completed the acquisition of Biosev S.A., or &#8220;Biosev&#8221;, for an amount of R$<ix:nonFraction contextRef="D20210810_BiosevSAMember_RaizenSAMember" name="ifrs-full:ConsiderationPaidReceived" unitRef="BRL" id="Tag6485" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,581,899</ix:nonFraction>. This payment was used, in turn, to pay part of Biosev<span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s financial debts, with the remaining balance of such debts of Biosev being paid with funds from a new financing contracted by H&#233;dera Investimentos e Participa&#231;&#245;es S.A., or &#8220;H&#233;dera&#8221;. Also, as part of the transaction H&#233;dera exercised the subscription bonus in amount of R$<ix:nonFraction contextRef="D20210810_RaizenSAMember_PreferenceSharesMember_HederaInvestimentosEParticipacoesSAMember" name="csan:SubscriptionBonusExercised" unitRef="BRL" id="Tag6975" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,423,944</ix:nonFraction>, adjusted to market value on the transaction date by the amount of R$<ix:nonFraction contextRef="D20210810_RaizenSAMember_PreferenceSharesMember_HederaInvestimentosEParticipacoesSAMember" name="csan:MarketValueAdjustmentToSubscriptionBonus" unitRef="BRL" id="Tag1032" decimals="-3" scale="3" format="ixt:num-dot-decimal">76,663</ix:nonFraction>, totaling R$<ix:nonFraction contextRef="D20210810_RaizenSAMember_PreferenceSharesMember_HederaInvestimentosEParticipacoesSAMember" name="csan:SubscriptionBonusNetOfMarketValueAdjustment" unitRef="BRL" id="Tag6459" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,347,281</ix:nonFraction>, issued at the Company's general meeting held on June 1, 2021, becoming holder of <ix:nonFraction contextRef="I20210810_RaizenSAMember_PreferenceSharesMember_HederaInvestimentosEParticipacoesSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag733" decimals="0" format="ixt:num-dot-decimal">330,602,900</ix:nonFraction> preferred shares issued by Ra&#237;zen, representing approximately <ix:nonFraction contextRef="I20210810_RaizenSAMember_PreferenceSharesMember_HederaInvestimentosEParticipacoesSAMember" name="csan:PreferredSharesIssuedAsPercentageOfCapitalStock" unitRef="Pure" id="Tag1035" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.22</ix:nonFraction>% of its share capital.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Biosev<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s main activities are the production, processing and sale of rural and agricultural products, mainly sugarcane and its derivatives, generation and sale of energy as well, as derivatives from energy cogeneration. This business combination is in line with Ra&#237;zen<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s strategy of leading the transformation of the energy matrix with its own technology, by expanding the crushing capacity and increasing the share of renewable products in our portfolio.<br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On August 23, 2021, the Company's subsidiary Atl&#226;ntico Participa&#231;&#245;es Ltda., or &#8220;Atl&#226;ntico,&#8221;, which is engaged in the mining segment signed a binding proposal for the acquisition of <ix:nonFraction contextRef="D20210810_TUPPortoSaoLuisSAMember" name="csan:PercentageOfBindingProposalForShareCapitalAcquisition" unitRef="Pure" id="Tag6476" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% of TUP Porto S&#227;o Luis S.A., or &#8220;Porto S&#227;o Luis,&#8221; for an amount of R$<ix:nonFraction contextRef="I20210823_TUPPortoSaoLuisSAMember" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" unitRef="BRL" id="Tag1039" decimals="-3" scale="3" format="ixt:num-dot-decimal">804,803</ix:nonFraction> from the controlling shareholder, S&#227;o Lu&#237;s Port Company SARL, a China Communications Construction Company Limited, or &#8220;CCCC,&#8221; (owed of <ix:nonFraction contextRef="D20210823_ChinaCommunicationsConstructionCompanyLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag73" decimals="2" scale="-2" format="ixt:num-dot-decimal">51</ix:nonFraction>% interest) and the other minority shareholders jointly holding a <ix:nonFraction contextRef="I20210810_TUPPortoSaoLuisSAMember" name="csan:PercentageOfMinorityInterestRecognisedOnAcquisition" unitRef="Pure" id="Tag6478" decimals="2" scale="-2" format="ixt:num-dot-decimal">49</ix:nonFraction>% interest. On February 11, 2022, the acquisition was completed which resulting in the Company holding&#160;<ix:nonFraction contextRef="I20220211_TUPPortoSaoLuisSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag1033" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% of the equity interest in Porto S&#227;o Luis.<br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>In addition, on August 23, 2021, Atl&#226;ntico signed a Binding &#8220;MoU&#8221; with the company Grupo Paulo Brito, founder and controller of Aura Minerals Inc. (&#8220;Aura&#8221;), a mining company focused on gold and copper, to form a joint venture for the exploration of iron ore, which will be shipped through TUP Porto S&#227;o Luis S.A. (&#8220;JV Minera&#231;&#227;o&#8221;). This MoU provides that Atl&#226;ntico will hold <ix:nonFraction contextRef="I20210823_AtlanticoParticipacoesLtdaMember" name="csan:ShareholdingPercentage" unitRef="Pure" id="Tag6499" decimals="2" scale="-2" format="ixt:num-dot-decimal">37</ix:nonFraction>% of the total capital and shared control of the new combined entity, or <ix:nonFraction contextRef="I20210823_TUPPortoSaoLuisSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6979" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% of the common shares of the new combined entity, after the contribution of Porto S&#227;o Luis and cash, depending on calls from capital by the Company&#8217;s management. JV Minera&#231;&#227;o will be an integrated mining and logistics company, which will have, in addition to Porto S&#227;o Luis, exploration rights for mining assets in <ix:nonFraction contextRef="D20210823_TUPPortoSaoLuisSAMember" name="csan:NumberOfMineralProjects" unitRef="Item" id="Tag1038" decimals="INF" format="ixt-sec:numwordsen">three</ix:nonFraction> mineral projects located in the state of Par&#225;, with significant potential for iron ore reserves, to be sold through the Port of S&#227;o Luis. With the beginning of its operations expected for 2025, the first mineral project to be explored by JV Minera&#231;&#227;o is located near to Paraupebas in the state of Par&#225;, in the Caraj&#225;s region, connected to Porto S&#227;o Luis by the Caraj&#225;s railroad. The completion of the transaction is subject to conditions precedent that have not yet been met as of the date of this consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On September 1, 2021, Cosan S.A anticipated the payment of obligations with non-controlling preferred shareholders of Cosan Investimentos e Participa&#231;&#245;es S.A (&#8220;CIP&#8221;) for the amount of R$<ix:nonFraction contextRef="D20210901_CosanInvestimentosEParticipacoesSAMember" name="csan:AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" unitRef="BRL" id="Tag6973" decimals="-3" scale="3" format="ixt:num-dot-decimal">182,373</ix:nonFraction>. On December 1, 2021, CIP was merged into the Company. Considering that CIP<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s net assets were represented by the investment in Ra&#237;zen S.A., the effect in the Company&#8217;s consolidated financial statements&#160;was a reclassification between the lines of &#8220;Investments in subsidiaries and associates&#8221; to &#8220;Investment in joint venture.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On September 10, 2021, the subsidiary Rumo definitively ended the existing arbitration procedure with the non-controlling shareholders of Brado Log&#237;stica e Participa&#231;&#245;es S.A. (Log&#237;stica Brasil &#8211; Fundo de Investimento e Participa&#231;&#245;es, Dimitrio Markakis and Deminvest Empreendimentos e Participa&#231;&#245;es), acquiring <ix:nonFraction contextRef="I20210910_RumoMember_BradoLogisticaeParticipacoesSAMember" name="csan:NumberOfSharesAcquired" unitRef="Shares" id="Tag6468" decimals="0" format="ixt:num-dot-decimal">2,000</ix:nonFraction> shares,&#160; representing&#160;<ix:nonFraction contextRef="I20210910_RumoMember_BradoLogisticaeParticipacoesSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag1027" decimals="4" scale="-2" format="ixt:num-dot-decimal">15.42</ix:nonFraction>% of the share capital, for R$<ix:nonFraction contextRef="D20210910_RumoMember_BradoLogisticaeParticipacoesSAMember" name="ifrs-full:ConsiderationPaidReceived" unitRef="BRL" id="Tag6463" decimals="-3" scale="3" format="ixt:num-dot-decimal">388,739</ix:nonFraction>, increasing its interest to <ix:nonFraction contextRef="D20210910_RumoMember_BradoLogisticaeParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6487" decimals="4" scale="-2" format="ixt:num-dot-decimal">77.65</ix:nonFraction>% in Brado Log&#237;stica e Participa&#231;&#245;es S.A.</span></p>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On September 19, 2021, the subsidiary Rumo Malha Norte S.A. (&#8220;Rumo Malha Norte&#8221;) entered into an adhesion agreement with the State of Mato Grosso, which allows Rumo Malha Norte to engage in the construction, operation, exploration and conservation of a railroad that independently connects the Rondon&#243;polis railroad terminal to Cuiab&#225; and Lucas do Rio Verde in the state of Mato Grosso. </span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On September 20, 2021, Cosan entered into a Share Purchase Agreement with Mansilla Participa&#231;&#245;es Ltda. (&#8220;Mansilla,&#8221; a vehicle of the investment fund TIAA &#8211; Teachers Insurance and Annuity Association of America), for the acquisition of an additional shareholding interest in Radar. On November 3, 2021, the Company acquired control of Radar from Mansilla. For more information, see Note 9.3. </span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On October 19, 2021, under the Amendment to the Sale and Purchase of Member Interests, the Company and ExxonMobil International Holdings BV agreed on the payment made by Cosan Lubrificantes e Especialidades S.A. (&#8220;CLE&#8221;) of R$<ix:nonFraction contextRef="I20211019_CosanLubrificanteseEspecialidadesSAMember" name="ifrs-full:UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" unitRef="BRL" id="Tag6417" decimals="-3" scale="3" format="ixt:num-dot-decimal">208,118</ix:nonFraction> related to tax credits granted during the Tax Optimization Program that CLE has entered into. CLE has now the full right of these tax credits.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On October 22, 2021, Compass Um Participa&#231;&#245;es S.A., a subsidiary of Compass G&#225;s e Energia, submitted the winning bid in Auction No. 01/2021, held at the Brazilian stock Exchange B3&#160;for the acquisition of&#160;<ix:nonFraction contextRef="I20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag1030" decimals="2" scale="-2" format="ixt:num-dot-decimal">51</ix:nonFraction>% interest in Companhia de G&#225;s do Estado do Rio Grande do Sul (&#8220;Sulg&#225;s&#8221;)&#8217;s capital, owned by the Government of the State of Rio Grande do Sul. Sulg&#225;s&#8217;s distribution network totals approximately&#160;<ix:nonFraction contextRef="D20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="csan:LengthOfDistributionNetworkCoverage" unitRef="Pure" id="Tag6492" decimals="0" format="ixt:num-dot-decimal">1,400</ix:nonFraction> km, serving over&#160;<ix:nonFraction contextRef="D20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="csan:NumberOfCustomersServed" unitRef="Pure" id="Tag6465" decimals="0" format="ixt:num-dot-decimal">68,000</ix:nonFraction>&#160;customers in <ix:nonFraction contextRef="D20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="csan:NumberOfMunicipalitiesServed" unitRef="Pure" id="Tag6486" decimals="0" format="ixt:num-dot-decimal">42</ix:nonFraction> cities, and distributes a volume of <ix:nonFraction contextRef="D20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="csan:DistributedVolumeOfNaturalGas" unitRef="Pure" id="Tag6473" decimals="-6" scale="6" format="ixt-sec:numwordsen">two</ix:nonFraction> million cbm/day. The acquisition was completed on January 3, 2022. The consideration transferred amounted to R$<ix:nonFraction contextRef="I20211022_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" unitRef="BRL" id="Tag6475" decimals="-3" scale="3" format="ixt:num-dot-decimal">955,244</ix:nonFraction>. A preliminary concession right in the amount of R$<ix:nonFraction contextRef="I20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6489" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,777,415</ix:nonFraction>&#160;was recorded as an intangible asset . The <ix:nonFraction contextRef="I20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="csan:PercentageOfMinorityInterestRecognisedOnAcquisition" unitRef="Pure" id="Tag6490" decimals="2" scale="-2" format="ixt:num-dot-decimal">49</ix:nonFraction>% non-controlling interest totaling R$<ix:nonFraction contextRef="I20211010_CompassGasEEnergiaMember_CompassUmParticipacoesSAMember_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" name="csan:MinorityInterestAcquiredInBusinessCombination" unitRef="BRL" id="Tag6977" decimals="-3" scale="3" format="ixt:num-dot-decimal">917,783</ix:nonFraction>, recognized on the acquisition date, was measured based on the fair value of the non-controlling interest.&#160; &#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>&#160; &#160; &#160; &#160; 2.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Recent developments and other information</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-style: italic;"><span>COVID-</span><span>19</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span> During the year ended on December 31, 2021, the Company and jointly controlled companies continue to monitor the evolution of the COVID-19 pandemic in Brazil and worldwide, in order to take preventive measures to minimize the spread of the virus, ensure continuity of operations and safeguard the health and safety of our employees and partners. The response to the pandemic has been effective in limiting the impacts on our operational facilities, employees, supply chain and logistics.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">On December 31, 2021, the Company had positive consolidated working capital of R$</span><ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag6503" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,336,147</ix:nonFraction><span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>(R$</span><ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag6462" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,887,874</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>on December 31, 2020), profit for the year of R$</span><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag57" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction><span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>(R$</span><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag6474" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>on December 31, 2020) and cash and cash equivalents and marketable securities of R$</span><ix:nonFraction contextRef="I20211231" name="csan:CashAndCashEquivalentsAndMarketableSecurities" unitRef="BRL" id="Tag6464" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,546,826</ix:nonFraction><span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>(R$</span><ix:nonFraction contextRef="I20201231" name="csan:CashAndCashEquivalentsAndMarketableSecurities" unitRef="BRL" id="Tag7117" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,312,027</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>on December 31, 2020).</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our debt covenants are assessed monthly for our need to generate sufficient cash flows to meet indebtedness and our ability to meet the covenants contained in the contracts that govern our indebtedness. As of December 31, 2021, the Company was in compliance with all restrictive financial clauses.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span>Considering the level of interest rates in Brazil and in the locations of our subsidiaries, we consider that despite the short-term fluctuations in some macroeconomic assumptions due to the impacts of the COVID-19 pandemic, our weighted average cost of capital should not undergo material changes.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company assessed the circumstances that could indicate impairment of its non-financial assets and concluded that there were no changes in the circumstances th<span>at <span>would indicate an impairment loss. Our tax recovery projections are based on the same scenarios and assumptions used in the impairment assessment.</span> </span></span><br/></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-size: 10pt; text-align: justify;">Losses</span><span style="font-size: 10pt; text-align: justify;"> due to the non-recoverability of financial assets were calculated based on the credit risk analysis, which includes the history of losses, the individual situation of the customers, the situation of the economic group to which they belong, the real guarantees for debts and macroeconomic indicators and is considered on December 31, 2021, sufficient to cover possible losses on the amounts receivable, in addition to a prospective assessment that consider the change or expected change in economic factors that affect the expected credit losses, which will be determined based on weighted probabilities and measured at an amount equal to the expected credit loss for life.</span></p>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The credit quality of accounts receivable falling due is considered adequate, and the amount of the effective risk of possible losses in accounts receivable from customers is presented as losses due to the non-recoverability of financial assets.</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our inventories are composed, substantially, of lubricants, base oil and materials for the construction of gas pipelines, which are products that are do not expire or have a long duration and, therefore, we do not observe indicators of obsolescence or impairment.</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">To date, there have been no changes in the scope of the Company's leases, including adding, terminating, extending and reducing the contractual term of the lease. Also, there was no change in the consideration for the leases that we are lessees and lessors. </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; font-weight: bold; font-style: italic;"> Russian-Ukrainian conflict </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On February 24, 2022, Russian troops started invading Ukraine. The ongoing military attack has led, and continues to lead, to significant casualties, dislocation of the population, damage to infrastructure and disruption to economic activity in Ukraine. </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In response, multiple jurisdictions, including the European Union, the United Kingdom and the United States have imposed initial tranches of economic sanctions on Russia (and in certain cases Belarus). In addition to the imposition of sanctions, a growing number of large public and private companies have announced voluntary actions to curtail business activities with Russia and Belarus. These actions include plans to dispose of assets or discontinue operations in Russia/Belarus, curtailing exports to, or imports from, these countries and discontinuing the provision of services. Moreover, the war has added to mounting concerns of a sharp global growth slowdown.&#160;</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a company that operates globally through its subsidiaries and joint venture, the ongoing conflict between Russia and Ukraine, and/or economic sanctions and import and/or export controls have not materially affected the Company&#8217;s financial statements to date. The main operations that may be affected are: </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)&#160; &#160; &#160;Fertilizer transported volumes; </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(ii)&#160; &#160; Unfavorable conditions for obtaining fertilizers affecting sugarcane production capacity; </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iii)&#160; &#160;An increase in oil prices as a result of a more limited supply of Russian oil globally may also lead to a decrease of our margins and an increase in the costs of acquisition of basic inputs such as diesel oil; and </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iv)&#160; Measures by the Brazilian government and the Brazilian Central Bank to contain inflation, such as raising the basic interest rate, which could materially impact the cost of debt and third-party capital for our financing and investing activities. </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Although the Company, its subsidiaries and joint venture do not conduct material business in Russia or Ukraine, we closely monitor the indirect effects that the war in Ukraine could have on international supply chains, and therefore cost of inputs and overall inflation.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Cybersecurity<span>&#160;</span>Incident</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On March 11, 2020, the Company, its subsidiaries and jointly controlled companies suffered a<span>&#160;</span>cyber-attack by<span>&#160;</span>ransomware<span>&#160;</span>that caused a partial and temporary interruption of our operations.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Following the incident, the Company made significant investments in privacy, protection and security of information/cybernetics, both in technologies and in processes and hiring for the teams. As part of the actions, we take steps to combat access and misuse of our data, including more robust investigations and audits of our information technology systems. As a result of these efforts, we mitigate additional incidents of data misuse or other undesirable activities by third parties.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, we performed an audit and forensic assessment of the attack suffered and did not identify any relevant impacts on the consolidated financial statements.</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">3.&#160; &#160; &#160; Basis of preparation</span></p>
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<p style="margin: 0pt 0pt 8pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">3.1</span></span></span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Statement of compliance&#160;</span></span></p>
<p style="margin: 0pt 0pt 8pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;).</span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The relevant information of the financial statements, and only them, are being evidenced and correspond to those used by management in its management.&#160;</span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">These consolidated financial statements were authorized for issue by the Board of Directors of Cosan S.A. on May 13, 2022.</span></p>
<p style="margin: 0pt 0pt 8pt 20pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">3.2</span></span></span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Corporate Reorganization</span><span style="font-weight: bold;">&#160;&#8211; Predecessor method</span></span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As mentioned in Note 1, on January 22, 2021, the shareholders of Cosan Limited (the former parent company of Cosan S.A. and Cosan Log&#237;stica S.A.) and the shareholders of Cosan S.A. and Cosan Log&#237;stica S.A. approved a corporate reorganization, pursuant to which Cosan Limited and Cosan Log&#237;stica S.A. were merged into Cosan S.A. As a result of the Corporate Reorganization, Cosan S.A. became the sole holding company of the Cosan Group.&#160;</span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IFRS provides no guidelines for the accounting of corporate reorganizations among entities under common control, as such, based on the guidance of International Accounting Standards (&#8220;IAS&#8221;) 8, Accounting Policies, Changes in Accounting Estimates and Errors, paragraphs 10 through 12, the Company developed and applied and accounting policy, considering the most recent pronouncements of other standard-setting bodies that use a similar conceptual framework to develop accounting standards other accounting literature and industry practices.</span></p>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
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<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a result, the Company accounted for the Corporate Reorganization using the predecessor method of accounting, and the consolidated financial statements are presented &#8220;as if&#8221; Cosan Limited is the predecessor of the Company. Under the predecessor method, the historical operations of Cosan Limited are deemed to be those of the Company. Thus, these consolidated financial statements reflect:</span></p>
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<td style="width: 2.97275%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 93.2849%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the historical operating results and financial position of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>Limited prior to the Corporate Reorganization;</span></td>
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<td style="width: 2.97275%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 93.2849%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the consolidated results and financial position of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A following the Corporate Reorganization;</span></td>
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<td style="width: 3.63336%; height: 17px;"><br/></td>
<td style="width: 2.97275%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="width: 93.2849%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the assets and liabilities of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. at their historical cost;</span></td>
</tr>
<tr style="height: 17px;">
<td style="width: 3.63336%; height: 17px;"><br/></td>
<td style="width: 2.97275%; height: 17px;">(iv)</td>
<td style="width: 93.2849%; height: 17px;">
<p>Cosan S.A&#8217;s earnings per share for all periods presented. The number of ordinary shares outstanding of Cosan S.A., as a result of the corporate reorganization is reflected retroactively as of January 1, 2019, for purposes of calculating earnings per share in all prior periods presented. See note 18; and<br/></p>
</td>
</tr>
<tr>
<td style="width: 3.63336%;"><br/></td>
<td style="width: 2.97275%;">(v)</td>
<td style="width: 93.2849%;">
<p>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. owned<span>&#160;</span></span><ix:nonFraction contextRef="I20211231_RumoSAMember" name="ifrs-full:SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" unitRef="Shares" id="Tag7020" decimals="0" format="ixt:num-dot-decimal">40,065,607</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>shares of<span>&#160;</span></span>Rumo<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A., representing<span>&#160;</span></span><ix:nonFraction contextRef="D20211231_RumoSAMember" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" unitRef="Pure" id="Tag7136" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.16</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of its shareholders' equity, and<span>&#160;</span></span><ix:nonFraction contextRef="I20211231_CosanLogsticaMember" name="ifrs-full:SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" unitRef="Shares" id="Tag7034" decimals="0" format="ixt:num-dot-decimal">477,196</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>shares of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span>Log&#237;stica<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, representing<span>&#160;</span></span><ix:nonFraction contextRef="D20211231_CosanLogsticaMember" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" unitRef="Pure" id="Tag7087" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.10</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of its shareholders' equity. These shares were recorded in the financial position as a financial asset, being measured at fair value through profit or loss, as Management considered trading these shares.</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">With the corporate reorganization, the financial asset, as well as its applicable taxes, was derecognized by R$<ix:nonFraction contextRef="D20211231_5" name="csan:FinancialAssetsAndApplicableTaxesDerecognisedDueToCorporateReorganization" unitRef="BRL" id="Tag7053" decimals="-3" scale="3" format="ixt:num-dot-decimal">734,903</ix:nonFraction><span>&#160;</span>and, consequently, an investment in subsidiary of R$<ix:nonFraction contextRef="D20211231_5" name="csan:InvestmentInSubsidiaryRecognizedDueToCorporateReorganization" unitRef="BRL" id="Tag7048" decimals="-3" scale="3" format="ixt:num-dot-decimal">329,118</ix:nonFraction><span>&#160;</span>was recorded. Additionally, the amount of R$<ix:nonFraction contextRef="D20211231_5" name="csan:AmountRecognizedInCapitalReserveDueToCorporateReorganization" unitRef="BRL" id="Tag7104" decimals="-3" scale="3" format="ixt:num-dot-decimal">313,758</ix:nonFraction><span>&#160;</span>was recognized in the capital reserve.<br/></span></p>
</td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span></span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">3.3</span></span></span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Changes in the presentation and classification of concession intangible assets amortization expense</span></span><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company re-assessed its presentation of the amortization expense related to its concession intangible assets in its statement of profit or loss and comprehensive income. The Company had previously presented the amortization expense related to its concession intangible assets in selling, general and administrative expenses. The Company elected to change the presentation of the amortization expense related to its concession intangible assets to cost of sales, as the Company believes that such presentation provides more relevant information to the users of its financial statements as it is more aligned to practices adopted by industry. This reclassification does not impact regulatory margins or key indicators used by the Company. The Company has recast the statement of profit or loss and comprehensive income for prior periods as follows:</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfChangesInAccountingEstimatesExplanatory" id="Tag7070" escape="true">
<table style="height: 252px; width: 100%; margin-left: 0.1px; border-style: none; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px; border-style: none; margin-left: 0.1px;">
<td style="height: 10px; width: 62.9232%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2020</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">Reclassification</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2020 (restated)</span></b> </span></td>
<td style="height: 10px; width: 1.07349%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="height: 19px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Net sales </span></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag7038" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag7031" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 19px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:Revenue" unitRef="BRL" id="Tag7071" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></td>
<td style="height: 19px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="height: 19px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cost of sales </span></td>
<td style="height: 19px; width: 0.990917%;"><br/></td>
<td style="height: 19px; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag7106" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,501,725</ix:nonFraction></span></td>
<td style="height: 19px; width: 0.990917%; border-bottom-width: 1px;">)</td>
<td style="height: 19px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag7078" decimals="-3" scale="3" format="ixt:num-dot-decimal">498,098</ix:nonFraction></span></td>
<td style="height: 19px; width: 0.990917%; text-align: left;"><span style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; font-weight: bold;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></span></b></span></td>
<td style="height: 19px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag6413" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,999,823</ix:nonFraction></span></td>
<td style="height: 19px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Gross profit</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag7028" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,936,110</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag7044" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">498,098</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag7100" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,438,012</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Selling expenses </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="csan:SellingExpenses" unitRef="BRL" id="Tag7060" decimals="-3" scale="3" format="ixt:num-dot-decimal">959,146</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="csan:SellingExpenses" unitRef="BRL" id="Tag7063" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">297,239</ix:nonFraction> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:SellingExpenses" unitRef="BRL" id="Tag6190" decimals="-3" scale="3" format="ixt:num-dot-decimal">661,907</ix:nonFraction></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> General and administrative expenses </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag7033" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,790,678</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag7095" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">200,859</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag7068" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,589,819</ix:nonFraction></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Other income, net&#160;</span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag7083" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,869</ix:nonFraction> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag7086" xsi:nil="true"></ix:nonFraction> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag7046" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,869</ix:nonFraction> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Operating expenses</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag7080" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,572,955</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag6414" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">498,098</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag7069" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,074,857</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before equity in earnings of</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: #000000;">&#160; &#160; &#160;investees, finance results and income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag7082" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,363,155</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag7081" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag7045" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,363,155</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Equity in earnings of investees</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7065" decimals="-3" scale="3" format="ixt:num-dot-decimal">611,802</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7099" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7067" decimals="-3" scale="3" format="ixt:num-dot-decimal">611,802</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Finance results, net</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag7074" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag7073" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag7102" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag7096" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,990,961</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag7091" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag7092" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,990,961</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag6191" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,667</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag7056" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag7089" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,667</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit for the year</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_PreviouslyStatedMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag7088" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20201231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag7041" xsi:nil="true"></ix:nonFraction> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag7061" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;">&#160;</p>
<table style="height: 250px; width: 100%; margin-left: 0.1px; border-style: none; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px;">
<td style="height: 10px; width: 62.9232%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2019</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">Reclassification</span></b> </span></td>
<td style="height: 10px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2019 (restated)</span></b> </span></td>
<td style="height: 10px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Net sales </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag7043" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag7062" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:Revenue" unitRef="BRL" id="Tag7076" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cost of sales </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag7035" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,160,233</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag7051" decimals="-3" scale="3" format="ixt:num-dot-decimal">456,752</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag7030" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,616,985</ix:nonFraction></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Gross profit</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag7054" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,451,176</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag6811" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">456,752</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag7039" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,994,424</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Selling expenses </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="csan:SellingExpenses" unitRef="BRL" id="Tag7090" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,122,866</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="csan:SellingExpenses" unitRef="BRL" id="Tag7029" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">456,752</ix:nonFraction> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231" name="csan:SellingExpenses" unitRef="BRL" id="Tag7032" decimals="-3" scale="3" format="ixt:num-dot-decimal">666,114</ix:nonFraction></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> General and administrative expenses </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag7052" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,236,062</ix:nonFraction></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag7105" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (<ix:nonFraction contextRef="D20191231" name="csan:GeneralAndAdministrativeExpenses" unitRef="BRL" id="Tag7040" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,236,062</ix:nonFraction></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Other income, net </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag7042" decimals="-3" scale="3" format="ixt:num-dot-decimal">404,686</ix:nonFraction> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag7057" xsi:nil="true"></ix:nonFraction> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag7055" decimals="-3" scale="3" format="ixt:num-dot-decimal">404,686</ix:nonFraction> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Operating expenses</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag7072" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,954,242</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag7097" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">456,752</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231" name="ifrs-full:OperatingExpense" unitRef="BRL" id="Tag7085" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,497,490</ix:nonFraction></span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before equity in earnings of</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: #000000;">&#160; &#160; &#160;investees, finance results and income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag7058" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,496,934</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag7093" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromOperatingActivities" unitRef="BRL" id="Tag7059" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,496,934</ix:nonFraction></span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="width: 62.9232%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Equity in earnings of investees</span></b> </span></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7037" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,132,637</ix:nonFraction></span></b> </span></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7079" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 19px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7064" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,132,637</ix:nonFraction></span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Finance results, net</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag7047" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction></span></b></span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag7077" xsi:nil="true"></ix:nonFraction> &#8212; </span><br/></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag7050" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction></span></b></span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
</tr>
<tr style="height: 17px;">
<td style="width: 62.9232%; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before income taxes</span></b> </span></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag7075" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,661,948</ix:nonFraction></span></b> </span></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag6411" xsi:nil="true"></ix:nonFraction> &#8212; </span><br/></td>
<td style="width: 0.990917%; text-align: left; height: 17px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag7084" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,661,948</ix:nonFraction></span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Income taxes</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag7066" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,596</ix:nonFraction></span></b></span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag7101" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag7094" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,596</ix:nonFraction></span></b></span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
</tr>
<tr>
<td style="width: 62.9232%;"><span> <span style="color: #000000;">Profit from discontinued operation, net of tax</span> </span></td>
<td style="width: 0.990917%;"><br/></td>
<td style="width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag6192" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,021</ix:nonFraction></span></td>
<td style="width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag7103" decimals="-3" scale="3" format="ixt:fixed-zero">&#8212;</ix:nonFraction></span></td>
<td style="width: 0.990917%; text-align: left;"><br/></td>
<td style="text-align: right; width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag7098" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,021</ix:nonFraction></span></td>
<td style="width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit for the year</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231_PreviouslyStatedMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag7036" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction></span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"><ix:nonFraction contextRef="D20191231_FinancialEffectOfChangesInAccountingPolicyMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag6412" xsi:nil="true"></ix:nonFraction> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag7049" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction></span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
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<div style="margin: 0 auto;">
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<div style="margin: 0 auto;">
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-25</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 7pt; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: right;"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</ix:exclude>
<p style="margin: 0pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">4.&#160; &#160; &#160; &#160; &#160; Accounting policies</span></p>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 39pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accounting policies applied in the preparation of these consolidated financial statements are described in their respective notes, except those described below:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
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<p style="margin: 0pt 0pt 9pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold; margin: 0pt 0pt 10pt 21.4pt;"><span style="border-left: none; border-right: none;">4.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Functional and presentation currency</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The consolidated financial statements are presented in Brazilian reais. However, the functional currency of Cosan Limited (the predecessor of the Company) is the U.S. dollar. The functional currency of Cosan S.A. is the Brazilian reais, which is the currency of the primary economic environment in which Cosan S.A. and its subsidiaries and jointly-controlled entity, located in Brazil, operate and generate and expend cash. The functional currency of subsidiaries located outside Brazil is the U.S. dollar, British pound or the Euro. All amounts have been rounded to the nearest thousand, unless otherwise indicated.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Monetary assets and liabilities denominated and calculated in foreign currencies on the balance sheet date are reconverted to the functional currency at the exchange rate on that date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are reconverted to the functional currency at the exchange rate on the date the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate on the transaction date. Foreign currency differences resulting from translation are generally recognized in profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Brazilian reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian reais at the exchange rates at the dates of the transactions.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency differences are recognized and presented in other comprehensive income in shareholders' equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of such control, loss or significant influence is lost, the accumulated amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal.&#160;</span></p>
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<div style="margin: 0 auto;">
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<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table set forth the exchange rate, expressed in reais (R$) per U.S. dollar (U.S.$), British pound (&#163;) and Euro (&#8364;), as reported by the Central Bank of Brazil (Banco Central do Brasil), &#8220;BACEN,&#8221; for the years indicated:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_27F3RK907K00000000000000000000b">
<table cellpadding="0" style="height: 69px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="text-decoration: underline; font-size: 8pt;"> Currency </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S. dollar (U.S.$) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_USD" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7137" decimals="3" format="ixt:num-dot-decimal">5.581</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_USD" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7138" decimals="3" format="ixt:num-dot-decimal">5.197</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_USD" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7139" decimals="3" format="ixt:num-dot-decimal">4.031</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> British pound (&#163;) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_GBP" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7140" decimals="3" format="ixt:num-dot-decimal">7.524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GBP" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7141" decimals="3" format="ixt:num-dot-decimal">7.101</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_GBP" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7142" decimals="3" format="ixt:num-dot-decimal">5.325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Euro (&#8364;) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_EUR" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7143" decimals="3" format="ixt:num-dot-decimal">6.321</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_EUR" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7144" decimals="3" format="ixt:num-dot-decimal">6.378</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_EUR" name="csan:ForeignCurrencyExchangeRate" unitRef="BRLPerShare" id="Tag7145" decimals="3" format="ixt:num-dot-decimal">4.531</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">4.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Use of judgments and estimates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In preparing these consolidated financial statements, Management has made judgments and estimates that affect the application of the Company&#8217;s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Those estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and relevant under the circumstances.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Estimates and underlying assumptions are reviewed on an ongoing basis and recognized prospectively. Information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes:</span></p>
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<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.3 &#8211; Trade receivables</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.7 &#8211; Leases</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.9 &#8211; Sector financial assets and liabilities</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.11 &#8211; Recognized fair value measurements</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 10 &#8211; Investments in joint venture</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Notes 11.1 e 11.2 &#8211; Property, plant and equipment, intangible assets and goodwill</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 11.5 &#8211; Investment property</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 12 &#8211; Commitments</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 15 &#8211; Income tax</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 16 &#8211; Provision for legal proceedings</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 23 &#8211; Post-employment benefits</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 24 &#8211; Share-based payments</span></li>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">5.&#160; &#160; &#160; &#160; Segment information</span></p>
<p><span style="font-family: 'times new roman', times; font-size: 10pt; margin-left: 14px; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The following segment information is used by Company&#8217;s senior management (the &#8220;Chief Operating Decision Maker&#8221;) to assess the performance of the operating segments and to make decisions with regards to the allocation of resources. This information is prepared on a basis consistent with the accounting policies used in the preparation of the financial statements. The Company evaluates the performance of its operating segments based on the measure of Earnings Before Interest Taxes, Depreciation and Amortization (&#8220;EBITDA&#8221;).&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Reported segments</span></p>
<ol style="margin: 0pt; padding-left: 0pt; font-family: 'times new roman', times; font-size: 10pt;">
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen: fuel distribution and marketing, primarily through a franchised network of service stations under the Shell brand throughout Brazil, petroleum refining, fuel retailer operation, convenience store business, the manufacture and sale of automotive and industrial lubricants, and the production and sale of liquefied petroleum gas throughout Argentina; in addition to the production and marketing of a variety of products derived from sugarcane, including raw sugar (Very High Polarization, or &#8220;VHP&#8221;), anhydrous and hydrated ethanol, activities related to energy cogeneration from sugarcane bagasse, and sale of electricity, comprising the purchase and sale of electricity to other traders. In addition, this segment has interests in companies involved in research and development of new technologies. Prior to the Ra&#237;zen Reorganization the Company had two reportable segments; Ra&#237;zen Combust&#237;veis and Ra&#237;zen Energia. In 2021, as a result of such reorganization the Company presents a single Ra&#237;zen segment and has recast prior periods segment information;</span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span>Gas and Power: its main activities are: (i) distribution of piped natural gas in part of the State of S&#227;o Paulo to customers in the industrial, residential, commercial, automotive and cogeneration sectors; and (ii) the sale of electricity, comprising the purchase and sale of electricity to other traders, to consumers who have a free choice of supplier and to other agents permitted by law, (iii) other investments in the development process and corporate activities, including, Rota 4 and Edge II - Empresa de Gera&#231;&#227;o de Energia S.A.;</span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moove: production and distribution of lubricants under the Mobil brand in Brazil, Argentina, Bolivia, Uruguay, Paraguay, the United States of America and Europe, as well as in the European and Asian markets under the &#8220;Comma&#8221; trademark and corporate activities;</span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Logistics: logistics services for rail transportation, storage and port loading of commodities, mainly for grains and sugar, leasing of locomotives, wagons and another railroad equipment; </span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Investments: management of agricultural properties, mining and logistics projects and investment in the Climate Tech Fund, a fund managed by Fifth Wall, specializing in technological innovation; and</span></li>
</ol>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Reconciliation&#160;</span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Cosan Corporate: digital wallet platform and other investments, in addition to the corporate activities of the Company. The Cosan corporate segment includes the financing subsidiaries for the Cosan group.</span></li>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Although, Ra&#237;zen S.A. is a joint venture recorded under the equity method and is not proportionally consolidated, the chief operating decision maker continues to review the information by segment. The reconciliation of this segment is presented in the column &#8220;Deconsolidation effects&#8221;.</span></p>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021&#160; &#160; &#160;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported Segments </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 28.8766%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation </span></p>
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<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.64023%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.831255%;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments</span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 1.41643%;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
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<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.831255%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
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<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> Statement of profit or loss </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag272" decimals="-3" scale="3" format="ixt:num-dot-decimal">188,825,984</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1644" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,711,939</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2073" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,697,074</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2386" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,944,312</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag222" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,695</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1726" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,002</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1806" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">188,825,984</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1337" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">57,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:GrossRevenue" unitRef="BRL" id="Tag267" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,337,931</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CountryOfDomicileMember_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1440" decimals="-3" scale="3" format="ixt:num-dot-decimal">182,035,680</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_CountryOfDomicileMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2374" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,711,939</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_CountryOfDomicileMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2209" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,021,757</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_CountryOfDomicileMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1472" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,606,966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CountryOfDomicileMember_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1473" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,695</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_CountryOfDomicileMember_UnallocatedAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2148" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,002</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CountryOfDomicileMember_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2224" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">182,035,680</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember_CountryOfDomicileMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2170" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">57,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CountryOfDomicileMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag229" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,325,268</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ForeignCountriesMember_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1842" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,790,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_GasAndPowerMember_ForeignCountriesMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1879" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_ForeignCountriesMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1310" decimals="-3" scale="3" format="ixt:num-dot-decimal">675,317</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_ForeignCountriesMember_OperatingSegmentsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1854" decimals="-3" scale="3" format="ixt:num-dot-decimal">337,346</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_ForeignCountriesMember_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2427" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanCorporateMember_ForeignCountriesMember_UnallocatedAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1438" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ForeignCountriesMember_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2377" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,790,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember_ForeignCountriesMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1487" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ForeignCountriesMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2510" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,012,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1711" decimals="-3" scale="3" format="ixt:num-dot-decimal">175,047,270</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2529" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,330,209</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1495" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,112,457</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2247" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,439,632</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1718" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1863" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,292</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag218" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">175,047,270</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1666" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">57,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1798" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,865,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1346" decimals="-3" scale="3" format="ixt:num-dot-decimal">163,367,574</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2519" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,755,425</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2465" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,808,643</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1507" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,352,040</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1528" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag244" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,231</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2133" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">163,367,574</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1943" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">57,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1836" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,864,248</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2544" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,679,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1326" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,574,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1729" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,303,814</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2208" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,087,592</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1965" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1552" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag150" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,679,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1844" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1488" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,000,753</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2191" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,882,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1767" decimals="-3" scale="3" format="ixt:num-dot-decimal">125,412</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1766" decimals="-3" scale="3" format="ixt:num-dot-decimal">551,520</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2135" decimals="-3" scale="3" format="ixt:num-dot-decimal">38,959</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2198" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2255" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,528</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2096" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,882,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1789" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2418" decimals="-3" scale="3" format="ixt:num-dot-decimal">723,419</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1966" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,788,180</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1565" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,048</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1516" decimals="-3" scale="3" format="ixt:num-dot-decimal">269,810</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1467" decimals="-3" scale="3" format="ixt:num-dot-decimal">472,739</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2551" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2432" decimals="-3" scale="3" format="ixt:num-dot-decimal">321,261</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1323" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,788,180</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2380" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1807" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,572,357</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2011" decimals="-3" scale="3" format="ixt:num-dot-decimal">717,792</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag217" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,569</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1906" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,414</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2019" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">69,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1295" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1351" decimals="-3" scale="3" format="ixt:num-dot-decimal">381,617</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2310" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">717,792</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2236" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag82" decimals="-3" scale="3" format="ixt:num-dot-decimal">382,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2461" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">43,534</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2015" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1350" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1344" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2010" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag273" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,195,679</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1917" decimals="-3" scale="3" format="ixt:num-dot-decimal">43,534</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag106" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1678" decimals="-3" scale="3" format="ixt:num-dot-decimal">130,225</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag338" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1884" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1945" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag231" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1489" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2141" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,590,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2105" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2100" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1591" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,590,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1579" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,124</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1364" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">289,616</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2487" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">63,797</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2156" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,359,940</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1381" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,199</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1363" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">847,403</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1427" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,967,124</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2449" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2024" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,557,557</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2319" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,606,724</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1699" decimals="-3" scale="3" format="ixt:num-dot-decimal">900,783</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2513" decimals="-3" scale="3" format="ixt:num-dot-decimal">61,870</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag271" decimals="-3" scale="3" format="ixt:num-dot-decimal">705,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1794" decimals="-3" scale="3" format="ixt:num-dot-decimal">51</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1645" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,179</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1556" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,606,724</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag99" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1878" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2162" decimals="-3" scale="3" format="ixt:num-dot-decimal">580,266</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1691" decimals="-3" scale="3" format="ixt:num-dot-decimal">703,204</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag236" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,071</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2166" decimals="-3" scale="3" format="ixt:num-dot-decimal">399,134</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag210" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1656" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,782</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1663" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">580,266</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1539" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2582" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,258,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1742" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,076,722</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1954" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">60,953</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1654" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">66,118</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2503" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">489,952</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2534" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1709" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">482,513</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2122" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,076,722</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1827" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1459" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,099,536</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2185" decimals="-3" scale="3" format="ixt:num-dot-decimal">136,056</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2575" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,084</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2481" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,120</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2475" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">563,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2593" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1725" decimals="-3" scale="3" format="ixt:num-dot-decimal">399,507</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag211" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">136,056</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2003" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2525" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">188,956</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2178" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,350,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1340" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,360</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1301" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">147,138</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2599" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag126" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1753" decimals="-3" scale="3" format="ixt:num-dot-decimal">541,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1704" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,350,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2340" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2259" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">445,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2079" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,365,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2399" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,742,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2369" decimals="-3" scale="3" format="ixt:num-dot-decimal">294,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag6208" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1995" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag225" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,536,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1549" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,365,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2595" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag216" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit (loss) attributable to: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1416" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,379,014</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag2126" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,650,725</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1450" decimals="-3" scale="3" format="ixt:num-dot-decimal">205,139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag2336" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,539</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1347" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1930" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,361,546</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag6205" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,379,014</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1927" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag257" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2476" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,306</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1559" decimals="-3" scale="3" format="ixt:num-dot-decimal">91,912</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1796" decimals="-3" scale="3" format="ixt:num-dot-decimal">89,824</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2505" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,202</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2548" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1384" decimals="-3" scale="3" format="ixt:num-dot-decimal">174,880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1996" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,306</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2005" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1382" decimals="-3" scale="3" format="ixt:num-dot-decimal">384,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 14.0227%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.52437%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1801" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,365,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.64023%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2541" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,742,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.708215%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 7.64873%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1401" decimals="-3" scale="3" format="ixt:num-dot-decimal">294,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.35694%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1830" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.831255%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.35694%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1553" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 1.41643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 7.79037%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag101" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,536,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.708215%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 10.1983%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2597" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,365,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 3px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.831255%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.35694%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2381" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 3px; height: 18px; background-color: #cceeff; width: 0.708215%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.64023%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1345" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other select data </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1933" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,393,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1724" decimals="-3" scale="3" format="ixt:num-dot-decimal">559,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1578" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,852</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag248" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,830,683</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2439" decimals="-3" scale="3" format="ixt:num-dot-decimal">39</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2131" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,818</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1870" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,393,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2120" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2543" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,504,384</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1763" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,076,726</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1682" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,532,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1627" decimals="-3" scale="3" format="ixt:num-dot-decimal">602,750</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2157" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,350,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1582" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,059</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1812" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,859,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2596" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,076,726</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag102" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,313</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2004" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,312,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions to PP&amp;E, intangible </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and contract asset </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1705" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,282,100</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2097" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,269,886</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1743" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,536</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1546" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,453,407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1758" decimals="-3" scale="3" format="ixt:num-dot-decimal">278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2320" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,732</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1451" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,282,100</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1900" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2283" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,774,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation of EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1522" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,365,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2248" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,742,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1902" decimals="-3" scale="3" format="ixt:num-dot-decimal">294,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1605" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1804" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1538" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,536,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2511" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,365,708</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag265" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2372" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,696,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1897" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,350,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1829" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,360</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1336" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">147,138</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1385" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2143" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2258" decimals="-3" scale="3" format="ixt:num-dot-decimal">541,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2091" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,350,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2419" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2561" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">445,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2239" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,124</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1901" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">289,616</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1532" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">63,797</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1843" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,359,940</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1502" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,199</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1686" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">847,403</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2493" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,967,124</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2335" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2134" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,557,557</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2363" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,393,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2601" decimals="-3" scale="3" format="ixt:num-dot-decimal">559,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1319" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,852</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1948" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,830,683</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2385" decimals="-3" scale="3" format="ixt:num-dot-decimal">39</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2102" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,818</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag219" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,393,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1400" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1950" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,504,384</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2230" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,076,726</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1776" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,532,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag109" decimals="-3" scale="3" format="ixt:num-dot-decimal">602,750</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2585" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,350,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2325" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,059</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2496" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,859,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span><ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1353" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,076,726</ix:nonFraction></span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.849858%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span><ix:nonFraction contextRef="D20211231_EliminationOfIntersegmentAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag226" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,078,313</ix:nonFraction></span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.708215%;"><span style="font-weight: bold; font-size: 10pt;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2285" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,312,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 20pt; text-align: justify; text-indent: -17.85pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 20pt; text-align: justify; text-indent: -17.85pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160; </span>Domestic markets: sales within the country where each entity is located; external markets: sales export.</span></p>
</div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div>
<div id="t_ft_C63TGE4UTC00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt; font-family: 'times new roman', times;" class="pageno">F-28</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><a href="#TOC">Table of Contents</a></span></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><br/></p>
</div>
</ix:exclude>
<div id="t_ft_KC8X85WXY800000000000000000000b">
<table cellpadding="0" style="height: 667px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="23" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 80.3735%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 (Restated) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 39.0548%;" colspan="11">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported Segments</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px; width: 29.3921%;" colspan="7">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 8.59049%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.917431%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.917431%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 1.28535%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Statement of profit or loss </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1331" decimals="-3" scale="3" format="ixt:num-dot-decimal">127,832,718</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2086" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,024,615</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1653" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,588,754</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag275" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,349,804</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1524" decimals="-3" scale="3" format="ixt:num-dot-decimal">880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2530" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">127,832,718</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1460" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:GrossRevenue" unitRef="BRL" id="Tag2067" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,926,166</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2428" decimals="-3" scale="3" format="ixt:num-dot-decimal">117,788,563</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_OperatingSegmentsMember_GasAndPowerMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1373" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,024,615</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_OperatingSegmentsMember_MooveMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2414" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,117,770</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_OperatingSegmentsMember_LogisticsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1449" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,978,624</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_CosanCorporateMember_UnallocatedAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1955" decimals="-3" scale="3" format="ixt:num-dot-decimal">880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1393" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">117,788,563</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CountryOfDomicileMember_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1841" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CountryOfDomicileMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1727" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,084,002</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ForeignCountriesMember_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2606" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,044,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ForeignCountriesMember_OperatingSegmentsMember_GasAndPowerMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2339" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ForeignCountriesMember_OperatingSegmentsMember_MooveMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1572" decimals="-3" scale="3" format="ixt:num-dot-decimal">470,984</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ForeignCountriesMember_OperatingSegmentsMember_LogisticsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1548" decimals="-3" scale="3" format="ixt:num-dot-decimal">371,180</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ForeignCountriesMember_CosanCorporateMember_UnallocatedAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1527" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_ForeignCountriesMember_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2571" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,044,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ForeignCountriesMember_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1886" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ForeignCountriesMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2410" decimals="-3" scale="3" format="ixt:num-dot-decimal">842,164</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1541" decimals="-3" scale="3" format="ixt:num-dot-decimal">118,049,722</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1477" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,093,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2480" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,415,575</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2364" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,966,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2390" decimals="-3" scale="3" format="ixt:num-dot-decimal">818</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1960" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">118,049,722</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2457" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1872" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1717" decimals="-3" scale="3" format="ixt:num-dot-decimal">110,800,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1970" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,932,288</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2127" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,380,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1815" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,721,507</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2508" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,611</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1367" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">110,800,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2478" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1601" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,999,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2136" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,249,224</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1315" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,160,882</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2128" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,035,271</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1826" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,244,652</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag278" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,793</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2524" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,249,224</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1832" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1537" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,438,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1914" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,264,756</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span>(<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1386" decimals="-3" scale="3" format="ixt:num-dot-decimal">156,892</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><span style="font-size: 10pt; font-family: 'times new roman', times;">)</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1735" decimals="-3" scale="3" format="ixt:num-dot-decimal">471,829</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1622" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,670</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1731" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,516</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2318" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,264,756</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1413" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2605" decimals="-3" scale="3" format="ixt:num-dot-decimal">661,907</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2522" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,263,733</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1285" decimals="-3" scale="3" format="ixt:num-dot-decimal">376,615</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2304" decimals="-3" scale="3" format="ixt:num-dot-decimal">229,672</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2130" decimals="-3" scale="3" format="ixt:num-dot-decimal">411,336</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1453" decimals="-3" scale="3" format="ixt:num-dot-decimal">572,196</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1397" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,263,733</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1316" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2245" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,589,819</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2286" decimals="-3" scale="3" format="ixt:num-dot-decimal">554,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2142" decimals="-3" scale="3" format="ixt:num-dot-decimal">56,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2184" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,876</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1739" decimals="-3" scale="3" format="ixt:num-dot-decimal">128,388</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1752" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">42,571</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1935" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">554,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1741" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1650" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,869</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1599" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">88,323</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2294" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2512" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1993" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,087</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2061" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,746,969</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2521" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,323</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1715" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2076" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,801</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1805" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">87,567</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2420" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1689" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2206" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1561" decimals="-3" scale="3" format="ixt:num-dot-decimal">583,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1543" decimals="-3" scale="3" format="ixt:num-dot-decimal">87,567</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2223" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag80" decimals="-3" scale="3" format="ixt:num-dot-decimal">583,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag212" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,431,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1710" decimals="-3" scale="3" format="ixt:num-dot-decimal">282,773</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1912" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,342</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1984" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,503,221</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1853" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,660</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1775" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,431,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2563" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1294" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1426" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,345,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2443" decimals="-3" scale="3" format="ixt:num-dot-decimal">374,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag224" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,910</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2468" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,920,241</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1706" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,402,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2300" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,345,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1749" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1713" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,727,561</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1988" decimals="-3" scale="3" format="ixt:num-dot-decimal">690,678</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2025" decimals="-3" scale="3" format="ixt:num-dot-decimal">72,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1630" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,086</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1464" decimals="-3" scale="3" format="ixt:num-dot-decimal">177,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1708" decimals="-3" scale="3" format="ixt:num-dot-decimal">137,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2395" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">690,678</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2311" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1590" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1657" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,821,462</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2018" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">150,227</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1422" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">161,636</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2124" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,577,342</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2576" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,369,451</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2169" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,821,462</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2387" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1391" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,258,656</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2577" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,045,288</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag206" decimals="-3" scale="3" format="ixt:num-dot-decimal">169,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2189" decimals="-3" scale="3" format="ixt:num-dot-decimal">43,118</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2180" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,817,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2379" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,565,031</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2573" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,045,288</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2137" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1891" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,594,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1476" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">537,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1624" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">460,312</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2315" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">87,941</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2167" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">169,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1980" decimals="-3" scale="3" format="ixt:num-dot-decimal">215,576</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1443" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">537,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1465" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1896" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1939" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,130,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1956" decimals="-3" scale="3" format="ixt:num-dot-decimal">940,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1412" decimals="-3" scale="3" format="ixt:num-dot-decimal">151,363</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2309" decimals="-3" scale="3" format="ixt:num-dot-decimal">270,910</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1770" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,856,810</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1659" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,130,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1756" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1566" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit attributable to: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag2082" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,081,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1596" decimals="-3" scale="3" format="ixt:num-dot-decimal">923,420</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1972" decimals="-3" scale="3" format="ixt:num-dot-decimal">104,570</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag2354" decimals="-3" scale="3" format="ixt:num-dot-decimal">43,602</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag245" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,519,145</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag6523" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,081,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1368" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag116" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1280" decimals="-3" scale="3" format="ixt:num-dot-decimal">49,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2207" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,046</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2361" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,793</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1317" decimals="-3" scale="3" format="ixt:num-dot-decimal">227,308</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2197" decimals="-3" scale="3" format="ixt:num-dot-decimal">337,665</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2411" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">49,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2562" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2360" decimals="-3" scale="3" format="ixt:num-dot-decimal">628,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 18.2652%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.69618%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1874" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,130,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.42369%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2316" decimals="-3" scale="3" format="ixt:num-dot-decimal">940,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.34028%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag262" decimals="-3" scale="3" format="ixt:num-dot-decimal">151,363</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.42369%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1504" decimals="-3" scale="3" format="ixt:num-dot-decimal">270,910</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.42369%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1470" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,856,810</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.28535%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.67389%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1501" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,130,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.50709%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2301" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.59049%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1923" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other select data </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2591" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,059,239</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2455" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,714</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2396" decimals="-3" scale="3" format="ixt:num-dot-decimal">108,687</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2334" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,715,527</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1869" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag227" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,059,239</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1466" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1808" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,340,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1961" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,158,210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2094" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,184,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1511" decimals="-3" scale="3" format="ixt:num-dot-decimal">477,333</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1290" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,659,648</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2218" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,725,820</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2536" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,158,210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1320" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2560" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,315,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions to PP&amp;E, intangible </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and contract asset </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1638" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,159,415</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2174" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,006,881</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2172" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1999" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,979,213</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2422" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,936</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1940" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,159,415</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1760" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2453" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,034,688</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation of EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag266" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,130,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1823" decimals="-3" scale="3" format="ixt:num-dot-decimal">940,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1328" decimals="-3" scale="3" format="ixt:num-dot-decimal">151,363</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2225" decimals="-3" scale="3" format="ixt:num-dot-decimal">270,910</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2400" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,856,810</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2289" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,130,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1519" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2346" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,488,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2351" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">537,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2578" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">460,312</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag115" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">87,941</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2146" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">169,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2588" decimals="-3" scale="3" format="ixt:num-dot-decimal">215,576</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1652" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">537,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2344" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1873" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2072" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,431,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2204" decimals="-3" scale="3" format="ixt:num-dot-decimal">282,773</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1551" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,342</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag91" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,503,221</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1456" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,660</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1773" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,431,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1339" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1282" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1585" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,059,239</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag269" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,714</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2284" decimals="-3" scale="3" format="ixt:num-dot-decimal">108,687</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2426" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,715,527</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1365" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1698" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,059,239</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag242" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1688" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,340,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2246" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,158,210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1313" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,184,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2257" decimals="-3" scale="3" format="ixt:num-dot-decimal">477,333</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1839" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,659,648</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2460" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,725,820</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2442" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,158,210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_EliminationOfIntersegmentAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1609" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,731,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1536" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,315,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 0.917431%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 71.45pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160; </span>Domestic markets: sales within the country where each entity is located; external markets: sales export.</span></p>
<ix:exclude>
<div style="margin: 0 auto;">
<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;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-29</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_0OF8F9U1Y800000000000000000000b">
<table cellpadding="0" style="height: 704px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="26" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 222.432%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 (Restated)</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.53355%;" colspan="10">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported segments&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.8285%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.8285%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 8.4507%; height: 18px;" colspan="8">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 151.098%;" colspan="4"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Statement of profit or loss </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1389" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,230,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag98" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,007,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2203" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,072,163</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1690" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,473,730</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1963" decimals="-3" scale="3" format="ixt:num-dot-decimal">106</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1399" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">140,230,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1387" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,047</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:GrossRevenue" unitRef="BRL" id="Tag1981" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,516,586</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2452" decimals="-3" scale="3" format="ixt:num-dot-decimal">132,455,731</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_OperatingSegmentsMember_GasAndPowerMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2080" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,007,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_OperatingSegmentsMember_MooveMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1299" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,948,678</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_OperatingSegmentsMember_LogisticsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2017" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,232,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_UnallocatedAmountsMember_CosanCorporateMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1667" decimals="-3" scale="3" format="ixt:num-dot-decimal">106</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1517" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">132,455,731</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CountryOfDomicileMember_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1410" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,047</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CountryOfDomicileMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1332" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,151,529</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 25px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ForeignCountriesMember_OperatingSegmentsMember_RaizenMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2450" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,774,321</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_ForeignCountriesMember_OperatingSegmentsMember_GasAndPowerMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag7008" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ForeignCountriesMember_OperatingSegmentsMember_MooveMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2490" decimals="-3" scale="3" format="ixt:num-dot-decimal">123,485</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ForeignCountriesMember_OperatingSegmentsMember_LogisticsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2254" decimals="-3" scale="3" format="ixt:num-dot-decimal">241,572</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_ForeignCountriesMember_UnallocatedAmountsMember_CosanCorporateMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1535" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_ForeignCountriesMember_EliminationsAndReconcilingItemsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag2491" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,774,321</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_ForeignCountriesMember_EliminationOfIntersegmentAmountsMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag337" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 25px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ForeignCountriesMember" name="csan:GrossRevenue" unitRef="BRL" id="Tag1369" decimals="-3" scale="3" format="ixt:num-dot-decimal">365,057</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag296" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,349,463</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1840" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,514,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1651" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,046,296</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2298" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,087,840</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2065" decimals="-3" scale="3" format="ixt:num-dot-decimal">98</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1847" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">129,349,463</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1736" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,047</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2558" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2382" decimals="-3" scale="3" format="ixt:num-dot-decimal">122,429,335</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2604" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,859,090</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2125" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,185,745</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2494" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,608,781</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag2516" decimals="-3" scale="3" format="ixt:num-dot-decimal">416</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1802" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">122,429,335</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1952" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,047</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag1329" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,616,985</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2383" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,920,128</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag220" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,655,132</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2345" decimals="-3" scale="3" format="ixt:num-dot-decimal">860,551</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2507" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,479,059</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1641" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag2195" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,920,128</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1719" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:GrossProfit" unitRef="BRL" id="Tag1432" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,994,424</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2183" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,069,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1907" decimals="-3" scale="3" format="ixt:num-dot-decimal">157,740</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2421" decimals="-3" scale="3" format="ixt:num-dot-decimal">492,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2211" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,983</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2326" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,909</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1822" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,069,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag1447" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:SellingExpense" unitRef="BRL" id="Tag2527" decimals="0" scale="3" format="ixt:num-dot-decimal">666.114</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1730" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,232,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1497" decimals="-3" scale="3" format="ixt:num-dot-decimal">404,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2356" decimals="-3" scale="3" format="ixt:num-dot-decimal">173,212</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1520" decimals="-3" scale="3" format="ixt:num-dot-decimal">364,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2500" decimals="-3" scale="3" format="ixt:num-dot-decimal">293,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2205" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,232,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag1493" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:GeneralAndAdministrativeExpense" unitRef="BRL" id="Tag2343" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,236,062</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1458" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,021,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag249" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,534</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2600" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,806</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2342" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">24,084</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1628" decimals="-3" scale="3" format="ixt:num-dot-decimal">428,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1893" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,021,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1816" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag2555" decimals="-3" scale="3" format="ixt:num-dot-decimal">404,686</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag7007" decimals="-3" scale="3" format="ixt:num-dot-decimal">115,168</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2406" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1509" decimals="-3" scale="3" format="ixt:num-dot-decimal">439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1318" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,876</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2532" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,822,914</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1452" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">115,168</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1607" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6722" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,231</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag276" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2193" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2132" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag238" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1649" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,131,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1848" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag246" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1786" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,131,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1306" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,296,237</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1434" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">180,381</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1784" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">96,794</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1457" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,197,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2235" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">492,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag6211" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,296,237</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1308" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1567" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2278" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,180,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2436" decimals="-3" scale="3" format="ixt:num-dot-decimal">495,958</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2062" decimals="-3" scale="3" format="ixt:num-dot-decimal">38,514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1616" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,871,221</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1586" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,284,885</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag2557" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,180,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag1490" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag152" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,690,578</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1637" decimals="-3" scale="3" format="ixt:num-dot-decimal">767,336</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2071" decimals="-3" scale="3" format="ixt:num-dot-decimal">315,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1506" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,385</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2389" decimals="-3" scale="3" format="ixt:num-dot-decimal">202,875</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag111" decimals="-3" scale="3" format="ixt:num-dot-decimal">433,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag1967" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">767,336</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2213" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag2592" decimals="-3" scale="3" format="ixt:num-dot-decimal">974,604</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1483" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">571,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2435" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">27,518</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag341" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">92,989</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2281" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">205,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag2365" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">200,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1968" decimals="-3" scale="3" format="ixt:num-dot-decimal">571,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1312" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag1864" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,946</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1589" decimals="-3" scale="3" format="ixt:num-dot-decimal">688,230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1664" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag237" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,324</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1681" decimals="-3" scale="3" format="ixt:num-dot-decimal">676,368</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1811" decimals="-3" scale="3" format="ixt:num-dot-decimal">559,144</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1835" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">688,230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2103" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag1721" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,275,297</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1868" decimals="-3" scale="3" format="ixt:num-dot-decimal">923,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1558" decimals="-3" scale="3" format="ixt:num-dot-decimal">588,389</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1284" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1383" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,247</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2099" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,754</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1680" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">923,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1694" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2095" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,596</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from continuing operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag277" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2448" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,292,647</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1894" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1747" decimals="-3" scale="3" format="ixt:num-dot-decimal">778,249</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1338" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,580,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2413" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1508" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2009" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,882,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from discontinued </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> operation, net of tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag1521" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag1750" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag2279" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag2556" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag118" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,021</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag2149" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag2467" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromDiscontinuedOperations" unitRef="BRL" id="Tag2098" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,021</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2471" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1669" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,292,647</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2545" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1911" decimals="-3" scale="3" format="ixt:num-dot-decimal">778,249</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1568" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,591,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2353" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag209" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2292" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1837" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,399,076</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag2567" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,255,369</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1068" decimals="-3" scale="3" format="ixt:num-dot-decimal">72,971</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1439" decimals="-3" scale="3" format="ixt:num-dot-decimal">157,216</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1814" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,586,632</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag235" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,399,076</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag1942" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,755,847</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" unitRef="BRL" id="Tag2407" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,316,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1977" decimals="-3" scale="3" format="ixt:num-dot-decimal">128,652</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag221" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1529" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,131</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1768" decimals="-3" scale="3" format="ixt:num-dot-decimal">621,033</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2087" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag1909" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">128,652</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag261" decimals="-3" scale="3" format="ixt:num-dot-decimal">911,849</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag2359" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,577,032</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1643" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1378" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,292,647</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1951" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag207" decimals="-3" scale="3" format="ixt:num-dot-decimal">778,249</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1926" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,591,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag1404" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag2401" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag107" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other select data </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1799" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,625,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1865" decimals="-3" scale="3" format="ixt:num-dot-decimal">459,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1333" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,827</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2012" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,716,185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1871" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,281</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2210" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,625,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1953" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2446" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,287,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 15px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EBITDA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2514" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,372,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1671" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,521,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2469" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">324,929</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2084" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,821,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2603" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,094,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2066" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,372,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1851" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1415" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,917,448</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions to PP&amp;E, intangible </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and contract asset </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2237" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,586,261</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1359" decimals="-3" scale="3" format="ixt:num-dot-decimal">775,769</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2159" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1327" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,943,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1523" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,251</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag2546" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,586,261</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1505" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" unitRef="BRL" id="Tag1379" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,762,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation of EBITDA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2554" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2463" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,292,647</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2188" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1362" decimals="-3" scale="3" format="ixt:num-dot-decimal">778,249</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2337" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,580,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag2598" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,527,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1915" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromContinuingOperations" unitRef="BRL" id="Tag1424" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,882,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1875" decimals="-3" scale="3" format="ixt:num-dot-decimal">923,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2173" decimals="-3" scale="3" format="ixt:num-dot-decimal">588,389</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2398" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1577" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,247</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2060" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,754</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1293" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">923,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag121" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1834" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,596</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1655" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,296,237</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2068" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">180,381</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1343" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">96,794</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2566" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,197,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2140" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">492,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag1304" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,296,237</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2333" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncomeCost" unitRef="BRL" id="Tag2123" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2249" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,625,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1919" decimals="-3" scale="3" format="ixt:num-dot-decimal">459,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1357" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,827</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag6207" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,716,185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1354" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,281</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1936" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,625,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2594" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag2479" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,287,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> EBITDA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1720" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,372,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag241" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,521,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2584" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">324,929</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2564" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,821,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1435" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,094,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag2438" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,372,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_EliminationOfIntersegmentAmountsMember" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1403" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,843,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:EarningsBeforeInterestTaxDepreciationAndAmortization" unitRef="BRL" id="Tag1611" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,917,448</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 71.45pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160; </span>Domestic markets: sales within the countries where each entity is located; external markets: sales export.</span></p>
<ix:exclude>
<div>
<p style="margin: 0pt; text-align: center; text-indent: 35.45pt;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-30</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Notes to the consolidated financial statements</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">, </span><span style="font-style: italic;">unless otherwise stated</span><span style="font-style: italic;">)</span></span><br/></p>
</div>
</div>
</ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-size: 10pt; text-align: right;">&#160;</span></p>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div id="t_ft_Z8EM3GPJVK00000000000000000000b">
<table cellpadding="0" style="height: 612px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="26" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="13" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported segments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;" colspan="7">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;" colspan="2">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 19%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Statement of financial position</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1297" decimals="-3" scale="3" format="ixt:num-dot-decimal">110,136,182</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag233" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,982,611</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag2161" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,850,344</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag2473" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,174,556</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag2489" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,484,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1888" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,054,649</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1445" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">110,136,182</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag6723" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,704,942</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Assets" unitRef="BRL" id="Tag1745" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,842,023</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2228" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,034,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2579" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,562,358</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1860" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,059,866</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1992" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,448,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1765" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,468</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1825" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,096,245</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2370" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,034,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2415" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1640" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,174,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag122" decimals="-3" scale="3" format="ixt:num-dot-decimal">154,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1647" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,876,006</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1307" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,390</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2164" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,425,897</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1754" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,094</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1722" decimals="-3" scale="3" format="ixt:num-dot-decimal">910,620</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1898" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">154,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2250" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1437" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,388,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1592" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,618,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2104" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,427,720</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1887" decimals="-3" scale="3" format="ixt:num-dot-decimal">605,928</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1305" decimals="-3" scale="3" format="ixt:num-dot-decimal">503,316</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2486" decimals="-3" scale="3" format="ixt:num-dot-decimal">207,761</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag215" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,128</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1632" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,618,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1441" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1448" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,745,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag2447" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,805,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1484" decimals="-3" scale="3" format="ixt:num-dot-decimal">358,456</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1518" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,513</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag6628" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,674,821</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1931" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1510" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,673,136</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag2139" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,805,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1617" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1494" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,732,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inventories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1468" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,297,068</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2423" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1862" decimals="-3" scale="3" format="ixt:num-dot-decimal">790,825</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2497" decimals="-3" scale="3" format="ixt:num-dot-decimal">228,923</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2518" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2417" decimals="-3" scale="3" format="ixt:num-dot-decimal">2</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2580" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,297,068</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1526" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1828" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,149,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1324" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1916" decimals="-3" scale="3" format="ixt:num-dot-decimal">558,310</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag2007" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1348" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1949" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag2199" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1676" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag2296" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1512" decimals="-3" scale="3" format="ixt:num-dot-decimal">558,310</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2488" decimals="-3" scale="3" format="ixt:num-dot-decimal">261,412</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1479" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2397" decimals="-3" scale="3" format="ixt:num-dot-decimal">466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1850" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2416" decimals="-3" scale="3" format="ixt:num-dot-decimal">319,728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2317" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2572" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">261,412</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag258" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1322" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1702" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,545,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag2328" decimals="-3" scale="3" format="ixt:num-dot-decimal">340,909</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag214" decimals="-3" scale="3" format="ixt:num-dot-decimal">298,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1" decimals="-3" scale="3" format="ixt:num-dot-decimal">747,308</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag232" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,470</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag223" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,599,793</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1542" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,545,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag2085" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">668,152</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1514" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,331,332</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 23px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1446" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,562,180</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2535" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,370,964</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1557" decimals="-3" scale="3" format="ixt:num-dot-decimal">246,934</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag6209" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,197,105</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2371" decimals="-3" scale="3" format="ixt:num-dot-decimal">354</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2464" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,180,558</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1997" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,562,180</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1817" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">240,673</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2456" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,755,242</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2001" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2070" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag123" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1485" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,844</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2498" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1349" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,518,340</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1782" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1606" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,796,117</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2008" decimals="-3" scale="3" format="ixt:num-dot-decimal">780,067</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;"><br/></td>
</tr>
<tr style="height: 23px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1852" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,317,720</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1635" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1377" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1759" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2474" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1615" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,936,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2405" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,317,720</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1544" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1341" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,936,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Biological assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1818" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,106,744</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag339" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2332" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1406" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1707" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag239" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1929" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,106,744</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2153" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2358" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2256" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag1700" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag1780" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2088" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2482" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2217" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2308" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2027" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag2437" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contract asset </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag2574" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,941,390</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag2145" decimals="-3" scale="3" format="ixt:num-dot-decimal">684,970</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1623" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,011</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag2338" decimals="-3" scale="3" format="ixt:num-dot-decimal">1</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1712" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1757" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1414" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,941,390</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1289" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag2129" decimals="-3" scale="3" format="ixt:num-dot-decimal">705,982</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right-of-use assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1411" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,758,442</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1661" decimals="-3" scale="3" format="ixt:num-dot-decimal">73,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag84" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,458</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1311" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,784,941</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag2533" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,203</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1762" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,445</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag2171" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,758,442</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1417" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1360" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,947,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2402" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,506,160</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2240" decimals="-3" scale="3" format="ixt:num-dot-decimal">271,490</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1728" decimals="-3" scale="3" format="ixt:num-dot-decimal">334,065</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1540" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,974,562</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1934" decimals="-3" scale="3" format="ixt:num-dot-decimal">31</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2539" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,405</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2587" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">22,506,160</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2540" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag270" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,648,553</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;"><br/></td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Intangible assets and goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1861" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,226,852</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2226" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,328,654</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1291" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,285,884</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1701" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,131,645</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2090" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2472" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,315</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2404" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,226,852</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1461" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1478" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,781,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></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: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-weight: bold;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2368" decimals="-3" scale="3" format="ixt:num-dot-decimal">84,736,772</ix:nonFraction></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2470" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,609,495</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2537" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,564,187</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag92" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,156,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2355" decimals="-3" scale="3" format="ixt:num-dot-decimal">246,599</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2002" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,305,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2485" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">84,736,772</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag1737" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">909,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag1563" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,972,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1769" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,967,092</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1629" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,667,987</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag208" decimals="-3" scale="3" format="ixt:num-dot-decimal">831,148</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1684" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,178,748</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag243" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1998" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,981,154</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1380" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">26,967,092</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag2327" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1976" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,659,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1405" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,377,276</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1613" decimals="-3" scale="3" format="ixt:num-dot-decimal">357,932</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2186" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2214" decimals="-3" scale="3" format="ixt:num-dot-decimal">576,749</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1433" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1772" decimals="-3" scale="3" format="ixt:num-dot-decimal">141,480</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2484" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,377,276</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1748" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2220" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,076,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:TradePayable" unitRef="BRL" id="Tag1913" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,678,442</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:TradePayable" unitRef="BRL" id="Tag1547" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,798,977</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:TradePayable" unitRef="BRL" id="Tag1783" decimals="-3" scale="3" format="ixt:num-dot-decimal">828,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:TradePayable" unitRef="BRL" id="Tag1895" decimals="-3" scale="3" format="ixt:num-dot-decimal">618,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:TradePayable" unitRef="BRL" id="Tag2441" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,006</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:TradePayable" unitRef="BRL" id="Tag1454" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,173</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:TradePayable" unitRef="BRL" id="Tag2016" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,678,442</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:TradePayable" unitRef="BRL" id="Tag1486" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:TradePayable" unitRef="BRL" id="Tag1985" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,253,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employee benefits payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2375" decimals="-3" scale="3" format="ixt:num-dot-decimal">788,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag6204" decimals="-3" scale="3" format="ixt:num-dot-decimal">104,404</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2504" decimals="-3" scale="3" format="ixt:num-dot-decimal">132,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2222" decimals="-3" scale="3" format="ixt:num-dot-decimal">255,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2158" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag1648" decimals="-3" scale="3" format="ixt:num-dot-decimal">60,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2063" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">788,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2376" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2176" decimals="-3" scale="3" format="ixt:num-dot-decimal">552,991</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1958" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1626" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,372,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1877" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag2552" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag6203" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1975" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1732" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag55" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1431" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,372,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2331" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,591,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2151" decimals="-3" scale="3" format="ixt:num-dot-decimal">472,592</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2520" decimals="-3" scale="3" format="ixt:num-dot-decimal">349,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1612" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,384,611</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2459" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,739</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1918" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,384,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1696" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,591,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2424" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">148,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2163" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,491,829</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1662" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,685,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1922" decimals="-3" scale="3" format="ixt:num-dot-decimal">63,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1740" decimals="-3" scale="3" format="ixt:num-dot-decimal">53,436</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2458" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,106,883</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2352" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,253</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2409" decimals="-3" scale="3" format="ixt:num-dot-decimal">40,358</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1791" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,685,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2393" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1978" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,267,682</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2006" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,647,572</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2444" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,771,568</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1325" decimals="-3" scale="3" format="ixt:num-dot-decimal">368,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1793" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,034,881</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1920" decimals="-3" scale="3" format="ixt:num-dot-decimal">193,601</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2277" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,691,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2179" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,647,572</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1820" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">761,665</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1738" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,298,514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 28px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 28px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets (net of liabilities) allocated by segment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1795" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,399,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2329" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,373,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1418" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,286,157</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1571" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,018,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2175" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,238,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1375" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,749,587</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1924" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,399,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag342" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,795,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Equity" unitRef="BRL" id="Tag2022" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,870,022</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag250" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,870,251</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2403" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,585,768</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2322" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,599,949</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag1499" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,479,944</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag1646" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,119,104</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2434" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,751,279</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2293" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">23,870,251</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2528" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,795,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2227" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,740,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1899" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,529,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag2290" decimals="-3" scale="3" format="ixt:num-dot-decimal">787,348</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag2243" decimals="-3" scale="3" format="ixt:num-dot-decimal">686,208</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag2349" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,538,119</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1792" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,119,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1481" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag2565" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,529,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1785" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1665" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,129,085</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1677" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,399,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2077" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,373,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1969" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,286,157</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1672" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,018,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1983" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,238,206</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2023" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,749,587</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2425" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,399,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2391" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,795,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Equity" unitRef="BRL" id="Tag259" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,870,022</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-31</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Notes to the consolidated financial statements</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">, </span><span style="font-style: italic;">unless otherwise stated</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</ix:exclude>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div id="t_ft_XP4B6XLSXS00000000000000000000b">
<table cellpadding="0" style="height: 636px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="22" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 79.5663%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 (restated) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 18px; width: 1.16764%;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.2652%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="13" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 48.7907%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported segments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.834028%;"><br/></td>
<td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 29.0242%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.16764%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.917431%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.917431%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.917431%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 18px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Statement of financial position </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1989" decimals="-3" scale="3" format="ixt:num-dot-decimal">67,942,010</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag2412" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,027,675</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1633" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,439,453</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1390" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,912,604</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1910" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,324,494</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag1692" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">67,942,010</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag2144" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,990,661</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Assets" unitRef="BRL" id="Tag2181" decimals="-3" scale="3" format="ixt:num-dot-decimal">83,713,565</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag240" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,422,828</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1831" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,899,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1636" decimals="-3" scale="3" format="ixt:num-dot-decimal">936,345</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2502" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,778,612</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag268" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,028,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1330" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,422,828</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag1973" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2287" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,642,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1876" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,086</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1867" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,188,625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1751" decimals="-3" scale="3" format="ixt:num-dot-decimal">168,066</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1941" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,396,723</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1764" decimals="-3" scale="3" format="ixt:num-dot-decimal">915,695</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2542" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,086</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2392" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag1932" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag124" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,265,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1723" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,121,612</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2147" decimals="-3" scale="3" format="ixt:num-dot-decimal">483,227</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1787" decimals="-3" scale="3" format="ixt:num-dot-decimal">428,492</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2547" decimals="-3" scale="3" format="ixt:num-dot-decimal">110</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2431" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,265,294</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1693" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag1584" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag2299" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,064,604</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag2231" decimals="-3" scale="3" format="ixt:num-dot-decimal">517,181</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag108" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,463</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1621" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,988,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag2321" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,606,532</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag2347" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,064,604</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1303" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:DerivativeFinancialAssets" unitRef="BRL" id="Tag1376" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,140,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inventories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1890" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,317,566</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag119" decimals="-3" scale="3" format="ixt:num-dot-decimal">121,064</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1394" decimals="-3" scale="3" format="ixt:num-dot-decimal">564,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2538" decimals="-3" scale="3" format="ixt:num-dot-decimal">249,318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag6896" decimals="-3" scale="3" format="ixt:num-dot-decimal">46</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1388" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,317,566</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1964" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Inventories" unitRef="BRL" id="Tag1755" decimals="-3" scale="3" format="ixt:num-dot-decimal">935,264</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1355" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag2252" decimals="-3" scale="3" format="ixt:num-dot-decimal">241,749</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1904" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag2433" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1562" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag2138" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag1462" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="csan:SectorFinancialAssets" unitRef="BRL" id="Tag110" decimals="-3" scale="3" format="ixt:num-dot-decimal">241,749</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2581" decimals="-3" scale="3" format="ixt:num-dot-decimal">160,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1576" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2168" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1974" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1475" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1513" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">160,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag1334" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag6994" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1788" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,761,106</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1991" decimals="-3" scale="3" format="ixt:num-dot-decimal">276,139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1673" decimals="-3" scale="3" format="ixt:num-dot-decimal">146,166</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag2288" decimals="-3" scale="3" format="ixt:num-dot-decimal">685,659</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1408" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,938,096</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag234" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,761,106</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag1631" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">764,392</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="csan:OtherCurrentAssetsOther" unitRef="BRL" id="Tag2515" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,281,668</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2244" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,225,978</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1774" decimals="-3" scale="3" format="ixt:num-dot-decimal">169,905</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2492" decimals="-3" scale="3" format="ixt:num-dot-decimal">398,796</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1407" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,613,480</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1885" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,566,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1573" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,225,978</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag2303" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">410,191</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="csan:OtherNonCurrentAssetsOther" unitRef="BRL" id="Tag1944" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,338,418</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1555" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2154" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1925" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1491" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,715</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2590" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,149,214</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2517" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1771" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,816,078</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1982" decimals="-3" scale="3" format="ixt:num-dot-decimal">383,851</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1937" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,305,790</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2083" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1679" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1428" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1392" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,988,208</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag2305" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,305,790</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1697" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag1570" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,988,208</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Biological assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2501" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,073,582</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1574" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2251" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2306" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1469" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2553" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,073,582</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag2219" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231" name="ifrs-full:BiologicalAssets" unitRef="BRL" id="Tag1946" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contract asset </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1588" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,860,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag81" decimals="-3" scale="3" format="ixt:num-dot-decimal">686,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1575" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,248</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1594" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag105" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag2394" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,860,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag2177" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentContractAssets" unitRef="BRL" id="Tag1994" decimals="-3" scale="3" format="ixt:num-dot-decimal">695,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right-of-use assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1695" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,210,366</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag6210" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,865</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1962" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,550</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1957" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,823,401</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1356" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,414</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1779" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,210,366</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1531" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag2200" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,916,230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1990" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,165,518</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1809" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,326</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2081" decimals="-3" scale="3" format="ixt:num-dot-decimal">327,535</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1581" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,646,248</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag340" decimals="-3" scale="3" format="ixt:num-dot-decimal">79,397</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1703" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">18,165,518</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1614" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1987" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,068,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Intangible assets and goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1733" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,089,034</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2280" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,769,986</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1361" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,268,095</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1658" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,251,432</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2187" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1292" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,089,034</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2190" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2242" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,308,439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2495" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,528,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2232" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,681,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2155" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,473,884</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2313" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,359,866</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag56" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,553,779</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag1618" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">51,528,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag1687" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,174,583</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag2295" decimals="-3" scale="3" format="ixt:num-dot-decimal">62,894,698</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1619" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,557,518</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1420" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,043,909</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag36" decimals="-3" scale="3" format="ixt:num-dot-decimal">802,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag2466" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,656,908</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag2367" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,745,705</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1560" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">24,557,518</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1602" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag1593" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,249,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1777" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,088,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag1778" decimals="-3" scale="3" format="ixt:num-dot-decimal">286,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2559" decimals="-3" scale="3" format="ixt:num-dot-decimal">348</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2549" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2330" decimals="-3" scale="3" format="ixt:num-dot-decimal">159,695</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2059" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,088,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2350" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:DerivativeFinancialLiabilities" unitRef="BRL" id="Tag2202" decimals="-3" scale="3" format="ixt:num-dot-decimal">446,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:TradePayable" unitRef="BRL" id="Tag1639" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,311,282</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:TradePayable" unitRef="BRL" id="Tag1668" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,182,111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:TradePayable" unitRef="BRL" id="Tag2064" decimals="-3" scale="3" format="ixt:num-dot-decimal">688,139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:TradePayable" unitRef="BRL" id="Tag2586" decimals="-3" scale="3" format="ixt:num-dot-decimal">754,546</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:TradePayable" unitRef="BRL" id="Tag2026" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,258</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:TradePayable" unitRef="BRL" id="Tag2583" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,311,282</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:TradePayable" unitRef="BRL" id="Tag1564" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:TradePayable" unitRef="BRL" id="Tag1938" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,630,054</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employee benefits payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag1856" decimals="-3" scale="3" format="ixt:num-dot-decimal">534,376</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2014" decimals="-3" scale="3" format="ixt:num-dot-decimal">74,543</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag1370" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,192</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2526" decimals="-3" scale="3" format="ixt:num-dot-decimal">139,058</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2020" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,673</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag125" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">534,376</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2013" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan" unitRef="BRL" id="Tag2570" decimals="-3" scale="3" format="ixt:num-dot-decimal">336,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag2429" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag2152" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">565,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag2483" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1300" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1838" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag1423" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag2196" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:SectorFinancialLiabilities" unitRef="BRL" id="Tag2388" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">565,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2215" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,094,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag83" decimals="-3" scale="3" format="ixt:num-dot-decimal">662,779</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2101" decimals="-3" scale="3" format="ixt:num-dot-decimal">290,827</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1670" decimals="-3" scale="3" format="ixt:num-dot-decimal">950,582</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag2075" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,006,371</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1905" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,094,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1471" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">204,366</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:OtherCurrentLiabilitiesClassifiedAsOther" unitRef="BRL" id="Tag1683" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,706,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders payable in subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag2454" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag1675" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag1587" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag2233" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag1846" decimals="-3" scale="3" format="ixt:num-dot-decimal">387,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag1442" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag2362" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:PreferredShareholdersPayableSubsidiariesNonCurrent" unitRef="BRL" id="Tag1545" decimals="-3" scale="3" format="ixt:num-dot-decimal">387,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2069" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,734,766</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1455" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag213" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,299</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1286" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,912,317</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag1421" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2282" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,734,766</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag104" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:LeaseLiabilitiesFinance" unitRef="BRL" id="Tag2445" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,001,847</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2238" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,208,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2366" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,856,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1903" decimals="-3" scale="3" format="ixt:num-dot-decimal">554,141</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2506" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,946,455</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2089" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,185,122</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2550" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,208,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag1500" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">970,217</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:OtherNoncurrentLiabilitiesOther" unitRef="BRL" id="Tag2341" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,571,662</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets (net of liabilities) allocated by segment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1283" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,413,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1604" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,345,923</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1530" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,965,569</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2253" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,552,738</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1371" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,770,715</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1813" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">16,413,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1598" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,816,078</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Equity" unitRef="BRL" id="Tag1824" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,818,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag260" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,129,497</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2378" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,288,315</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag1358" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,367,157</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag1444" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,150,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag1810" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,270,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag1889" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">16,129,497</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2212" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,816,078</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:EquityAttributableToOwnersOfParent" unitRef="BRL" id="Tag2078" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,260,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1880" decimals="-3" scale="3" format="ixt:num-dot-decimal">283,515</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1660" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,608</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1309" decimals="-3" scale="3" format="ixt:num-dot-decimal">598,412</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag2165" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,402,686</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1480" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,500,078</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag2499" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">283,515</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1550" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1634" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,558,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RaizenMember_OperatingSegmentsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1498" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,413,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2477" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,345,923</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1819" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,965,569</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1800" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,552,738</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag1716" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,770,715</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag2430" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">16,413,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag230" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,816,078</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Equity" unitRef="BRL" id="Tag1298" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,818,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff; width: 1.16764%;"></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
</div>
<div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><br/></p>
<ix:exclude>
<div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-32</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Notes to the consolidated financial statements</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">, </span><span style="font-style: italic;">unless otherwise stated</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0px; text-align: right; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</ix:exclude>
</div>
<div>
<div style="margin: 0 auto;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfProductsAndServicesExplanatory" id="Tag6536" escape="true">
<div style="margin: 0 auto;">
<div style="border-right: none; border-left: none;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">5.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Net sales to external customers by product/customer&#160;</span></span></p>
<div id="t_ft_JL9JD8APMO00000000000000000000b">
<table cellpadding="0" style="height: 728px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.47059%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.61765%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 (restated) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.47059%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.61765%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 (restated) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.47059%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.61765%;" rowspan="2"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> Reported segment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.4412%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ethanol </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_EthanolMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2194" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,464,271</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_EthanolMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2307" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,625,060</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_EthanolMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1833" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,286,705</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sugar </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_SugarMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1685" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,946,480</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_SugarMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1595" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,241,141</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_SugarMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1761" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,925,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gasoline</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember_GasolineMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2160" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,158,035</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember_GasolineMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1858" decimals="-3" scale="3" format="ixt:num-dot-decimal">36,127,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember_GasolineMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1921" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,140,529</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diesel </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_DieselMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2241" decimals="-3" scale="3" format="ixt:num-dot-decimal">71,828,092</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_DieselMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1534" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,967,219</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_DieselMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1734" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,522,023</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cogeneration </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CogenerationMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2229" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,968,947</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_CogenerationMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1600" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,282,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_CogenerationMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1583" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,934,639</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_OtherMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1374" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,288,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_OtherMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1855" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,807,127</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_OtherMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2462" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,540,068</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Intercompany elimination<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 10.5882%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RaizenMember_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1398" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,607,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 10.4412%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RaizenMember_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2275" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 10.5882%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_RaizenMember_EliminationOfIntersegmentAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2291" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1554" decimals="-3" scale="3" format="ixt:num-dot-decimal">175,047,270</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1402" decimals="-3" scale="3" format="ixt:num-dot-decimal">118,049,722</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_RaizenMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2384" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,349,463</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Natural gas distribution </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Industrial </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_IndustrialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1430" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,386,258</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_IndustrialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1882" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,030,738</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_IndustrialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2589" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,045,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Residential </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_ResidentialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2121" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,610,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_ResidentialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2348" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,381,597</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_ResidentialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag6206" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,295,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cogeneration </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_CogenerationMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1425" decimals="-3" scale="3" format="ixt:num-dot-decimal">637,489</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_CogenerationMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1620" decimals="-3" scale="3" format="ixt:num-dot-decimal">389,732</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_CogenerationMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag100" decimals="-3" scale="3" format="ixt:num-dot-decimal">437,327</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Automotive </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_AutomotiveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1971" decimals="-3" scale="3" format="ixt:num-dot-decimal">364,664</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_AutomotiveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1302" decimals="-3" scale="3" format="ixt:num-dot-decimal">220,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_AutomotiveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2276" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Commercial </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_CommercialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2150" decimals="-3" scale="3" format="ixt:num-dot-decimal">448,615</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_CommercialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1821" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,760</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_CommercialMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1908" decimals="-3" scale="3" format="ixt:num-dot-decimal">507,550</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_ConstructionRevenueMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1395" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,020,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_ConstructionRevenueMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1790" decimals="-3" scale="3" format="ixt:num-dot-decimal">885,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_ConstructionRevenueMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1866" decimals="-3" scale="3" format="ixt:num-dot-decimal">813,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_OtherMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1986" decimals="-3" scale="3" format="ixt:num-dot-decimal">242,226</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_OtherMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1979" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,104</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember_OtherMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag70" decimals="-3" scale="3" format="ixt:num-dot-decimal">64,660</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2216" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,709,714</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1603" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,317,691</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_GasDistributionMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2302" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,514,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Electricity trading </span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_GasAndPowerMember_ElectricityDistributionMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1288" decimals="-3" scale="3" format="ixt:num-dot-decimal">620,495</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember_ElectricityDistributionMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1597" decimals="-3" scale="3" format="ixt:num-dot-decimal">775,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember_ElectricityDistributionMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1525" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_GasAndPowerMember_OperatingSegmentsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2408" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,330,209</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1515" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,093,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_GasAndPowerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1625" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,514,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finished goods </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember_FinishedGoodsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1335" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,088,102</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember_FinishedGoodsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1409" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,891,551</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember_FinishedGoodsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1797" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,786,636</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Base oil </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember_BasicOilMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1429" decimals="-3" scale="3" format="ixt:num-dot-decimal">457,991</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember_BasicOilMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1321" decimals="-3" scale="3" format="ixt:num-dot-decimal">392,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember_BasicOilMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1892" decimals="-3" scale="3" format="ixt:num-dot-decimal">194,353</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember_ServicesMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1803" decimals="-3" scale="3" format="ixt:num-dot-decimal">566,364</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember_ServicesMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2357" decimals="-3" scale="3" format="ixt:num-dot-decimal">131,871</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember_ServicesMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1296" decimals="-3" scale="3" format="ixt:num-dot-decimal">65,307</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_OperatingSegmentsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2509" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,112,457</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2074" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,415,575</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_MooveMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1849" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,046,296</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> North operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember_NorthOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1569" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,479,583</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember_NorthOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1474" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,270,436</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember_NorthOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag264" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,313,757</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> South operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember_SouthOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1496" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,624,084</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember_SouthOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag274" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,409,872</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember_SouthOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1746" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,478,314</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Container operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember_ContainerOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1482" decimals="-3" scale="3" format="ixt:num-dot-decimal">335,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember_ContainerOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1352" decimals="-3" scale="3" format="ixt:num-dot-decimal">285,851</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember_ContainerOperationsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag228" decimals="-3" scale="3" format="ixt:num-dot-decimal">295,769</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogisticsMember_OperatingSegmentsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2523" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,439,632</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1881" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,966,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LogisticsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1947" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,087,840</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cosan Investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Land leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_LandLeasesMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1610" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_LandLeasesMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2569" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_LandLeasesMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2324" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag6724" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag263" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_OperatingSegmentsMember_CosanInvestimentosMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag247" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Corporate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1314" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,292</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCorporateMember_UnallocatedAmountsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1608" decimals="-3" scale="3" format="ixt:num-dot-decimal">818</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_UnallocatedAmountsMember_CosanCorporateMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1287" decimals="-3" scale="3" format="ixt:num-dot-decimal">98</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deconsolidated effects </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and eliminations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_MaterialReconcilingItemsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2182" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">175,104,361</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_MaterialReconcilingItemsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2192" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">118,087,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_MaterialReconcilingItemsMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1492" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">129,386,510</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2312" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,865,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2568" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1928" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div style="margin: 0 auto;">
<ix:exclude>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-33</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-indent: -36pt;"><br/></p>
</div>
</ix:exclude>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 7%; text-align: center; vertical-align: top;" valign="top"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 92%; text-align: justify;"><span>On June 1, 2021, Ra&#237;zen S.A. started to consolidate Ra&#237;zen Energia and, therefore, the balances between the entities are presented net.</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<div style="border-right: none; border-left: none;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-size: 10pt; text-indent: 0px;"><br/></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfGeographicalAreasExplanatory" id="Tag6530" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">5.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Information on geographical area</span></span></p>
<div id="t_ft_DFBDNIBIYO00000000000000000000b">
<table cellpadding="0" style="height: 150px; border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="5" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Net sales </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-current assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 27px;" rowspan="2"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brazil </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20211231_BR" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1883" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,529,634</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_BR" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1642" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,100,012</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20191231_BR" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2440" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,522,108</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="I20211231_BR" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag1714" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,551,261</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="I20201231_BR" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag1436" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,577,376</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Europe<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> <ix:nonFraction contextRef="D20211231_EuropeMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2451" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,551,739</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> <ix:nonFraction contextRef="D20201231_EuropeMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1845" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,867,284</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> <ix:nonFraction contextRef="D20191231_EuropeMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1463" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,719,262</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> <ix:nonFraction contextRef="I20211231_EuropeMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag1503" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,515</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> <ix:nonFraction contextRef="I20201231_EuropeMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag1419" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,401</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Latin America<span style="vertical-align: super; font-size: 8pt;">(ii)</span></span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20211231_LatinAmericaMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2234" decimals="-3" scale="3" format="ixt:num-dot-decimal">632,235</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_LatinAmericaMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag120" decimals="-3" scale="3" format="ixt:num-dot-decimal">360,798</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20191231_LatinAmericaMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1781" decimals="-3" scale="3" format="ixt:num-dot-decimal">184,981</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="I20211231_LatinAmericaMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag1372" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,320</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="I20201231_LatinAmericaMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag1580" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,684</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> North America </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20211231_NorthAmericaMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1533" decimals="-3" scale="3" format="ixt:num-dot-decimal">81,384</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_NorthAmericaMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1744" decimals="-3" scale="3" format="ixt:num-dot-decimal">62,760</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20191231_NorthAmericaMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2531" decimals="-3" scale="3" format="ixt:num-dot-decimal">157,665</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20211231_NorthAmericaMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag2021" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20201231_NorthAmericaMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag2602" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Asia and other </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20211231_AsiaAndOtherMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1674" decimals="-3" scale="3" format="ixt:num-dot-decimal">70,009</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_AsiaAndOtherMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2092" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,981</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20191231_AsiaAndOtherMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1366" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,393</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20211231_AsiaAndOtherMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag2297" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20201231_AsiaAndOtherMember" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag2201" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1857" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,865,001</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1396" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2314" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag2093" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,568,096</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" unitRef="BRL" id="Tag2221" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,613,461</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Main countries:</span></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 92%;">England, France, Spain and Portugal; and</td>
</tr>
<tr>
<td style="text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td>Argentina, Bol&#237;via, Uruguay and Paraguay.</td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; text-indent: 0px;"> &#160;</span><br/></p>
</div>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span>5.3.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Major Customers</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span>The majority of the cargo Rumo transports and port elevation is for the agricultural commodities industry, especially corn, sugar, soy and derivatives thereof. Rumo&#8217;s major clients are export companies participating in this market. This participation corresponds approximately to the following amounts of net revenue from Rumo's <span><ix:nonFraction contextRef="D20211231_RumoSAMember_MajorCustomerMember" name="csan:NumberOfLargestCustomers" unitRef="Item" id="Tag1859" decimals="INF" format="ixt-sec:numwordsen">six</ix:nonFraction></span> largest customer in each year: <span>R$</span><ix:nonFraction contextRef="D20211231_RumoSAMember_MajorCustomerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag1281" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,916,247</ix:nonFraction> in 2021, R$<ix:nonFraction contextRef="D20201231_RumoSAMember_MajorCustomerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2323" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,939,945</ix:nonFraction> in 2020 and R$<ix:nonFraction contextRef="D20191231_RumoSAMember_MajorCustomerMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag2373" decimals="-3" scale="3" format="ixt:num-dot-decimal">773,286</ix:nonFraction> in 2019.&#160;</span></p>
</div>
</div>
</ix:nonNumeric>
</div>
</div><div id="Normadiv16" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:continuation id="c33ccff5e-de92-41e7-a0ad-0f5f0282a0de" continuedAt="c9a6f1441-09aa-40d4-beaa-f0413ddcd681">
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify; padding-left: 0pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">6.&#160; &#160; Financial assets and liabilities</span></p>
<p style="margin: 0pt; text-align: justify; padding-left: 0pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company initially measures a financial asset at its fair value plus, in the case of a financial asset not measured at fair value through profit or loss, transaction costs, except those measured at amortized cost maintained within a business model with the objective to obtain contractual cash flows that meet the criteria of principal and interest only.</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Debt financial instruments are subsequently measured at fair value through profit or loss, amortized cost or fair value through other comprehensive income.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span>The classification is based on <ix:nonFraction contextRef="D20211231_5" name="csan:NumberOfCriteriaForClassificationOfFinancialInstruments" unitRef="Item" id="Tag6516" decimals="0" format="ixt-sec:numwordsen">two</ix:nonFraction> criteria: (i) the Company&#8217;s business model for managing assets; and (ii) whether the contractual cash flows of the instruments represent only payments of principal and interest on the principal amount outstanding.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes its financial assets at amortized cost for financial assets that are maintained within a business model in order to obtain contractual cash flows that meet the &#8220;Principal and Interest&#8221; criteria. This category includes trade receivables, cash and cash equivalents, receivables from related parties, other financial assets and dividends and interest on capital receivable.</span></p>
</div>
<ix:exclude>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<div>
<div id="t_ft_P03IQJDGSW00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-34</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0cm; margin: 0cm 0cm 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><b><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Notes to the consolidated financial statements</span></span></b></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Purchases or sales of financial assets that require the delivery of assets within a period established by regulation or convention in the market (regular trading) are recognized on the trade date, that is, the date on which the Company commits to buy or sell the asset.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">No remeasurement of financial assets was carried out.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial liabilities are classified as measured at amortized cost or at fair value through profit or loss. A financial liability is classified as at fair value through profit or loss if it is classified as held-for-sale, it is a derivative or it is designated as such on initial recognition. Financial liabilities at fair value through profit or loss are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Any gain or loss on derecognition is also recognized in profit or loss.</span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" id="Tag6077" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The carrying amount of financial assets and financial liabilities are as follows:</span></p>
<div id="t_ft_DHJCABSM1C00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 316px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 63%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fair value through profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_CashAndCashEquivalentMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6226" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,103,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_CashAndCashEquivalentMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2737" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,155,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2719" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,388,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2676" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.4 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_OtherFinancialAssetMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2608" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_OtherFinancialAssetMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2704" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivate financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_DerivativesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2672" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,732,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_DerivativesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2687" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,140,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2694" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,544,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6223" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,034,381</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Amortized cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember_CashAndCashEquivalentMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2612" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,070,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember_CashAndCashEquivalentMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6514" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,487,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember_TradeReceivablesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2628" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,745,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember_TradeReceivablesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2720" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6.2</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember_RestrictedCashMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2723" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember_RestrictedCashMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6220" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,562</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember_ReceivablesFromRelatedPartiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2661" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,491</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember_ReceivablesFromRelatedPartiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2710" decimals="-3" scale="3" format="ixt:num-dot-decimal">929,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.9 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember_SectorFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6230" decimals="-3" scale="3" format="ixt:num-dot-decimal">558,310</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember_SectorFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2636" decimals="-3" scale="3" format="ixt:num-dot-decimal">241,749</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividend receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember_DividendsReceivableMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6227" decimals="-3" scale="3" format="ixt:num-dot-decimal">519,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember_DividendsReceivableMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6750" decimals="-3" scale="3" format="ixt:num-dot-decimal">80,755</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtAmortisedCostCategoryMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag1154" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,370,026</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtAmortisedCostCategoryMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2117" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,807,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2657" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,914,865</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag2668" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,842,050</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<div>
<div>
<ix:exclude>
<div>
<div>
<div style="margin: 0px; text-indent: 0px;"><br/></div>
<div>
<div id="t_ft_UCG2X0FBOG00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-35</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><b style="color: #000000; font-family: Arial, 'sans-serif'; font-size: 14.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Notes to the consolidated financial statements</span></span></b></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
</div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div>
<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><br/></p>
</div>
</div>
</div>
</ix:exclude>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div>
<div id="t_ft_RVNP7T4LGW00000000000000000000b">
<table cellpadding="0" style="height: 330px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 63%; background-color: #cceeff; height: 17px;"><span 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: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Liabilities</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; margin: 0pt; text-indent: 10pt; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: black;">Amortized cost&#160;</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 63%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.6 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2637" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,444,437</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6224" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,393,880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.7 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_LeasesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2733" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,267,678</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_LeasesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2686" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,001,847</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.8 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_TradePayablesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2620" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,253,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_TradePayablesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2734" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,630,054</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Consideration payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2731" decimals="-3" scale="3" format="ixt:num-dot-decimal">234,960</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2717" decimals="-3" scale="3" format="ixt:num-dot-decimal">224,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities <sup>(i)</sup></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_OtherFinancialLiabilityMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6218" decimals="-3" scale="3" format="ixt:num-dot-decimal">726,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_OtherFinancialLiabilityMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6754" decimals="-3" scale="3" format="ixt:num-dot-decimal">594,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_PayablesToRelatedPartiesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2627" decimals="-3" scale="3" format="ixt:num-dot-decimal">287,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_PayablesToRelatedPartiesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2112" decimals="-3" scale="3" format="ixt:num-dot-decimal">307,080</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railroad concession payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 13 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_RailroadConcessionPayableMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2640" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,054,248</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_RailroadConcessionPayableMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6964" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,154,919</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders payable in subsidiaries </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_PreferredShareholdersPayableInSubsidiariesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2614" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_PreferredShareholdersPayableInSubsidiariesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2658" decimals="-3" scale="3" format="ixt:num-dot-decimal">387,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_DividendsPayableMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2685" decimals="-3" scale="3" format="ixt:num-dot-decimal">799,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_DividendsPayableMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2728" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,413,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.9 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_SectorFinancialLiabilitiesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2680" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,372,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_SectorFinancialLiabilitiesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2646" decimals="-3" scale="3" format="ixt:num-dot-decimal">565,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax installments - REFIS </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 15 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember_TaxInstallmentsREFISMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2623" decimals="-3" scale="3" format="ixt:num-dot-decimal">200,664</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember_TaxInstallmentsREFISMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2631" decimals="-3" scale="3" format="ixt:num-dot-decimal">202,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtAmortisedCostCategoryMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2698" decimals="-3" scale="3" format="ixt:num-dot-decimal">38,641,440</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtAmortisedCostCategoryMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6222" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,875,309</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fair value through profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.6 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2713" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,214,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2118" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,855,580</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_DerivativesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2732" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,076,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_DerivativesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2613" decimals="-3" scale="3" format="ixt:num-dot-decimal">446,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6966" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,290,761</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2702" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,301,641</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2688" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,932,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag2625" decimals="-3" scale="3" format="ixt:num-dot-decimal">53,176,950</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<table style="width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="vertical-align: top; text-align: right; padding: 0px; width: 5%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)</span></td>
<td style="vertical-align: top; text-align: right; padding: 0px; width: 2%;"><br/></td>
<td style="vertical-align: top; width: 93%;" valign="top"><span>The balance substantially presented comes from the subsidiary Rumo and refers to amounts that were advanced by its suppliers with financial institutions. As of December 31, 2021 the balance was R$<ix:nonFraction contextRef="I20211231_RumoSAMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag2111" decimals="-3" scale="3" format="ixt:num-dot-decimal">576,786</ix:nonFraction> (R$<ix:nonFraction contextRef="I20201231_RumoSAMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag2682" decimals="-3" scale="3" format="ixt:num-dot-decimal">413,470</ix:nonFraction> as of December 31, 2020). These operations had Banco Ita&#250; and Banco Bradesco as counterparties, at an average rate of <ix:nonFraction contextRef="I20211231_BancoItauAndBancoBradescoMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag2639" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.60</ix:nonFraction>% p.a. (<ix:nonFraction contextRef="I20201231_BancoItauAndBancoBradescoMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag6221" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.00</ix:nonFraction>% p.a. on December 31, 2020). The average payment term of these operations is around <ix:nonNumeric contextRef="D20211231_BancoItauAndBancoBradescoMember" name="csan:AveragePaymentTermToSuppliers" id="Tag2693" format="ixt-sec:durday">90</ix:nonNumeric> days.&#160;</span></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Cash and cash equivalents</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents comprise cash balances, deposits held at call and highly liquid investments with maturities of <ix:nonNumeric contextRef="D20211231_TopOfRangeMember" name="csan:MaturityPeriodOfShortTermInvestmentsClassifiedAsCashAndCashEquivalents" id="Tag2108" format="ixt-sec:durwordsen">three months</ix:nonNumeric> or less from the acquisition date that are subject to an insignificant risk of change in value.&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory" id="Tag6066" escape="true">
<table cellpadding="0" style="height: 83px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and bank accounts </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Cash" unitRef="BRL" id="Tag2109" decimals="-3" scale="3" format="ixt:num-dot-decimal">98,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Cash" unitRef="BRL" id="Tag2622" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,134,074</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Savings account </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2644" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,594,723</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2659" decimals="-3" scale="3" format="ixt:num-dot-decimal">986,379</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Financial investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag6965" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,481,291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2669" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,522,465</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag6513" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,174,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag2724" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,642,918</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfFinancialInvestmentsTableTextBlock" id="Tag6535" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial investments include the following:</span></p>
<div id="t_ft_SJ0QWVN9GW00000000000000000000b">
<table cellpadding="0" style="height: 150px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Investment fund </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repurchase agreements </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InvestmentFundsMember_RepurchaseAgreements1Member" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2610" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,680,328</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_InvestmentFundsMember_RepurchaseAgreements1Member" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag6753" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,672,688</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank certificate of deposits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InvestmentFundsMember_BankCertificateOfDepositsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2726" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,423,385</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_InvestmentFundsMember_BankCertificateOfDepositsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2656" decimals="-3" scale="3" format="ixt:num-dot-decimal">475,213</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_InvestmentFundsMember_OtherBankInvestmentsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2655" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_InvestmentFundsMember_OtherBankInvestmentsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2736" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,545</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InvestmentFundsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2730" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,103,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_InvestmentFundsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag6213" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,155,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Bank investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repurchase agreements<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_BankInvestmentsMember_RepurchaseAgreements1Member" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag6746" decimals="-3" scale="3" format="ixt:num-dot-decimal">974,494</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_BankInvestmentsMember_RepurchaseAgreements1Member" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2697" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,293,833</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank certificate of deposits<sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_BankInvestmentsMember_BankCertificateOfDepositsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2692" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,321,614</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_BankInvestmentsMember_BankCertificateOfDepositsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2641" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,015,244</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other<sup>(iii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_BankInvestmentsMember_OtherBankInvestmentsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag186" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,081,470</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_BankInvestmentsMember_OtherBankInvestmentsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2716" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,942</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_BankInvestmentsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2700" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,377,578</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231_BankInvestmentsMember" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag6748" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,367,019</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2673" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,481,291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ShorttermInvestmentsClassifiedAsCashEquivalents" unitRef="BRL" id="Tag2634" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,522,465</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
</div>
<ix:exclude>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><br/></p>
<div>
<div id="t_ft_R3A84TNDPC00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-36</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><b style="color: #000000; font-family: Arial, 'sans-serif'; font-size: 14.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Notes to the consolidated financial statements</span></span></b></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 3.12753%; text-align: center;">(i)</td>
<td style="width: 0.823046%;"><br/></td>
<td style="width: 96.0493%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote45"><span><span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Repurchase agreements refer to the purchase of securities, with a commitment to repurchase them at a rate previously established by the parties, usually with a fixed term of up to&#160;</span><ix:nonNumeric contextRef="D20211231_TopOfRangeMember" name="csan:PeriodOfFixedTermOfRepurchaseAgreements" id="Tag6969" format="ixt-sec:durday">90</ix:nonNumeric><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;days, for which there are&#160;</span><ix:nonFraction contextRef="D20211231_5" name="csan:PenaltiesForEarlyRedemptionOfRepurchaseAgreements" unitRef="BRL" id="Tag2711" decimals="-3" scale="3" format="ixt-sec:numwordsen">no</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;penalties or other restrictions for their early redemption.</span></span></span></span></ix:footnote></td>
</tr>
<tr>
<td style="width: 3.12753%; text-align: center;">(ii)</td>
<td style="width: 0.823046%;"><br/></td>
<td style="width: 96.0493%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote46"><span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Bank deposit certificates (</span><span 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-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Certificado&#160;de&#160;Dep&#243;sito&#160;Banc&#225;rio</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;CDB,&#8221; are securities issued by Brazilian financial institutions, with original maturities of up to&#160;</span><ix:nonNumeric contextRef="D20211231_TopOfRangeMember" name="csan:MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" id="Tag2114" format="ixt-sec:durday">90</ix:nonNumeric><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;days, without penalties or other restrictions for their early redemption.</span></span></ix:footnote></td>
</tr>
<tr>
<td style="width: 3.12753%; text-align: center;">(iii)</td>
<td style="width: 0.823046%;"><br/></td>
<td style="width: 96.0493%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote47"><span><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The line other in bank investments substantially refers to investments in time deposits at&#160;Banco&#160;</span>Bradesco<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. Grand&#160;Cayman and Banco do&#160;</span>Brasil<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. in London for the amounts of&#160;</span>Rumo<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Luxembourg&#160;S.&#224;.r.l.<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, for the raising of Sustainability-Linked Notes due </span><span><span style="border-left: none; border-right: none;">2032</span></span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, with weighted remuneration of&#160;</span></span><ix:nonFraction contextRef="I20211231_BankInvestmentsMember_OtherBankInvestmentsMember" name="csan:WeightedRemunerationBasisPointsPerAnnum" unitRef="Pure" id="Tag2701" decimals="0" format="ixt:num-dot-decimal">49</ix:nonFraction><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;bps (</span></span><ix:nonFraction contextRef="I20211231_BankInvestmentsMember_OtherBankInvestmentsMember" name="csan:WeightedRemunerationPercentagePerAnnum" unitRef="Pure" id="Tag2113" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.47</ix:nonFraction><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% per annum) on December 31, 2021.</span></span></span></ix:footnote></td>
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<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;" class="ng-scope"><span style="font-size: 10pt;">The onshore financial investments are remunerated at rates around </span><ix:nonFraction contextRef="I20211231_InterBankDepositCertificateMember" name="csan:PercentageOfOnshoreFinancialInvestmentsRemuneration" unitRef="Pure" id="Tag6219" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction><span style="font-size: 10pt;">% of the interbank deposit certificate (</span><span style="font-size: 10pt; font-style: italic;">Certificados de Dep&#243;sitos Interbanc&#225;rios</span><span style="font-size: 10pt;">), or &#8220;CDI,&#8221; in </span><span>2021</span><span style="font-size: 10pt;"> (</span><ix:nonFraction contextRef="I20201231_InterBankDepositCertificateMember" name="csan:PercentageOfOnshoreFinancialInvestmentsRemuneration" unitRef="Pure" id="Tag2116" decimals="2" scale="-2" format="ixt:num-dot-decimal">97</ix:nonFraction><span style="font-size: 10pt;">% of CDI in </span><span>2020</span><span style="font-size: 10pt;">) and offshore financial investments are remunerated at rates around </span><ix:nonFraction contextRef="I20211231_FEDFUNDSMember" name="csan:PercentageOfOffshoreFinancialInvestmentsRemuneration" unitRef="Pure" id="Tag2715" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction><span style="font-size: 10pt;">% of Fed Funds. The sensitivity analysis on interest rate risks is presented in Note </span><span>6.12</span><span style="font-size: 10pt;">.</span><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Marketable securities</span><span style="font-weight: bold;"> and restricted cash</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marketable securities are measured and classified at fair value through profit or loss. The securities include all equity securities with a readily determinable fair value. Fair values for equity securities are deemed readily determinable if the securities are listed or if a current market value or fair value is available even without a direct listing (e.g., prices for shares in investment funds).&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span>Restricted cash are measured and classified at amortized cost, both of them with the average maturity of government bonds between two and <ix:nonNumeric contextRef="D20211231_TopOfRangeMember" name="csan:MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" id="Tag2714" format="ixt-sec:durwordsen">five years</ix:nonNumeric>, however they can be promptly redeemed and are subject to an insignificant risk of change in value.</span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_6YPWIT7OLS00000000000000000000b">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfMarketableSecuritiesAndRestrictedCashTableTextBlock" id="Tag6067" escape="true">
<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: auto; margin-right: auto; height: 158px;" width="100%">
<tbody>
<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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 73%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 10px;" valign="top">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Government security <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GovernmentSecuritiesMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2679" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,371,645</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> <ix:nonFraction contextRef="I20201231_GovernmentSecuritiesMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2638" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,543,886</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDB </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_BankCertificateOfDepositsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2110" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,051</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> <ix:nonFraction contextRef="I20201231_BankCertificateOfDepositsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2690" decimals="-3" scale="3" format="ixt:num-dot-decimal">116,963</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ESG funds <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ESGFundMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2684" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span><ix:nonFraction contextRef="I20201231_ESGFundMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2107" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repurchase agreements </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_RepurchaseAgreementsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2691" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> <ix:nonFraction contextRef="I20201231_RepurchaseAgreementsMember" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2683" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,260</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag2632" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,388,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> <ix:nonFraction contextRef="I20201231" name="csan:MarketableSecurities1" unitRef="BRL" id="Tag6968" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Securities pledged as collateral&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SecuritiesPledgedAsCollateral1Member" name="ifrs-full:RestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag6216" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> <ix:nonFraction contextRef="I20201231_SecuritiesPledgedAsCollateral1Member" name="ifrs-full:RestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag6225" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,562</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:RestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag2642" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:RestrictedCashAndCashEquivalents" unitRef="BRL" id="Tag6228" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,562</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<div id="t_ft_22SMNC7R5S00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 34px;">
<tbody>
<tr style="height: 34px;">
<td style="text-align: right; height: 34px; width: 5%; vertical-align: top; padding: 1px 1px 8px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="height: 34px; width: 2%; vertical-align: top; padding: 1px 1px 8px;" valign="top"><br/></td>
<td style="text-align: justify; height: 34px; width: 93%; vertical-align: top; padding: 1px 1px 8px;" valign="top"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Government securities have stated interest connected to Special System for Settlement and Custody (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Sistema&#160;Especial de&#160;Liquida&#231;&#227;o&#160;e de&#160;Cust&#243;dia</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;</span>Selic<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&#8221; with a return of approximately <span><ix:nonNumeric contextRef="D20211231_SelicMember_GovernmentSecuritiesMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag2667" escape="true">100% of the CDI</ix:nonNumeric></span>.</span></span></span></td>
</tr>
<tr>
<td style="text-align: right; width: 5%; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 2%; vertical-align: top;" valign="top"><br/></td>
<td style="text-align: justify; width: 93%; vertical-align: top;" valign="top" class="ng-scope">On October 6, 2021, the Company invested in the Fifth Wall Climate Tech Fund, from the United States, as an investor and partner in a business that also gives preferential access to investments in startups developing carbon solutions. The investment is measured at fair value through profit or loss maturing in <ix:nonNumeric contextRef="D20211006_ESGFundMember" name="csan:InvestmentMaturityTerm" id="Tag2677" format="ixt-sec:duryear">5</ix:nonNumeric> years.</td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
<ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div>
<div id="t_ft_H9FEA7X2OW00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-37</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0px; text-indent: 0px;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><b style="color: #000000; font-family: Arial, 'sans-serif'; font-size: 14.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Notes to the consolidated financial statements</span></span></b></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
<p><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.3</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Trade receivables</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Trade receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Company holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method.&#160; &#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">To measure the expected credit losses, trade receivables have been grouped based on credit risk characteristics and days overdue. A loss allowance for expected credit losses is recognized in selling expense.</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Expected loss rates are based on corresponding historical credit losses suffered in the period. Historical loss rates may be adjusted to reflect current and forward-looking information regarding macroeconomic factors that affect the customers&#8217; ability to settle the receivables. The Company identified the interest rate implied in the agreement as the most relevant factor, and consequently adjusts historical loss rates based on the expected changes in this factor.</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_OFCOSIHJE800000000000000000000b">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory" id="Tag6078" escape="true">
<div>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 155px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;" rowspan="2"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 72%; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Domestic &#8211; Brazilian reais </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DomesticBrazilianReaisMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag6967" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,810,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_DomesticBrazilianReaisMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2725" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,432,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export &#8211; foreign currency </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ExportForeignCurrencyMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag610" decimals="-3" scale="3" format="ixt:num-dot-decimal">74,450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ExportForeignCurrencyMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2678" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Unbilled receivables<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_UnbilledReceivablesMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag6217" decimals="-3" scale="3" format="ixt:num-dot-decimal">975,588</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_UnbilledReceivablesMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2729" decimals="-3" scale="3" format="ixt:num-dot-decimal">667,793</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2665" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,860,905</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10.75pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2643" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,169,465</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expected credit losses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_AccumulatedImpairmentMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2735" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">115,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_AccumulatedImpairmentMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2115" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">136,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag6212" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,745,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2695" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentTradeReceivables" unitRef="BRL" id="Tag6215" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,580,776</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentTradeReceivables" unitRef="BRL" id="Tag6963" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,007,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-current&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentTradeReceivables" unitRef="BRL" id="Tag2703" decimals="-3" scale="3" format="ixt:num-dot-decimal">165,077</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentTradeReceivables" unitRef="BRL" id="Tag2675" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,301</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2635" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,745,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2106" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_ZI8LKDR25S00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="text-align: right; vertical-align: top; width: 5%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 2%;"><br/></td>
<td style="width: 93%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Unbilled revenue refers to the part of the gas supply in the month, whose measurement and billing have not yet been carried out.</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:AnalysisOfAgeOfFinancialAssetsThatArePastDueButNotImpaired" id="Tag6079" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The aging of trade receivables is as follows:</span></p>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_1LQ7N7UGWW00000000000000000000b">
<table cellpadding="0" style="height: 150px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 72%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Not overdue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NotDueMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2621" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,484,633</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_NotDueMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2664" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,814,202</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Overdue: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 3.5pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span> From 1 to 30 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OverdueOneToThirtyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2662" decimals="-3" scale="3" format="ixt:num-dot-decimal">206,244</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OverdueOneToThirtyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2712" decimals="-3" scale="3" format="ixt:num-dot-decimal">166,467</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> From 31 to 60 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OverdueThirtyOneToSixtyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2615" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OverdueThirtyOneToSixtyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2699" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,169</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span> From 61 to 90 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2.3pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OverdueSixtyOneToNinetyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2645" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,351</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OverdueSixtyOneToNinetyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2708" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> More than 90 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_MoreThanNinetyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2619" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_MoreThanNinetyDaysMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2722" decimals="-3" scale="3" format="ixt:num-dot-decimal">151,471</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expected credit losses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_AccumulatedImpairmentMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2705" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">115,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_AccumulatedImpairmentMember" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2666" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">136,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag93" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,745,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeReceivables" unitRef="BRL" id="Tag2633" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:exclude>
<div>
<div id="t_ft_2ZIU6YIC5C00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-38</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><b style="color: #000000; font-family: Arial, 'sans-serif'; font-size: 14.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Notes to the consolidated financial statements</span></span></b></p>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfChangesInAllowanceForDoubtfulAccountsOfTradeReceivablesTableTextBlock" id="Tag6074" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Changes in the expected credit losses are as follows:</span></p>
<div id="t_ft_QZM40R0T6800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 88%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20191231" name="csan:AllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag2119" decimals="-3" scale="3" format="ixt:num-dot-decimal">120,407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13.8pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision / reversal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" unitRef="BRL" id="Tag2663" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,187</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Write-off </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="csan:WriteOffAllowanceForDoubtfulAccountsReceivable" unitRef="BRL" id="Tag2727" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,570</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13.8pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:AllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag2617" decimals="-3" scale="3" format="ixt:num-dot-decimal">136,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision / reversal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" unitRef="BRL" id="Tag2681" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,762</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13.8pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" unitRef="BRL" id="Tag6229" decimals="-3" scale="3" format="ixt:num-dot-decimal">340</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Write-off </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:WriteOffAllowanceForDoubtfulAccountsReceivable" unitRef="BRL" id="Tag94" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,074</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 14.4pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:AllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag2721" decimals="-3" scale="3" format="ixt:num-dot-decimal">115,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.4</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Other financial assets</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments in shares are measured at fair value through profit or loss and are equity instruments whose objective is to hold for trading.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial assets at fair value through other comprehensive income (&#8220;OCI&#8221;) are non-derivative financial assets or are not classified in any of the above categories. Financial assets are at fair value through OCI initially recorded at fair value plus any directly attributable transaction costs.</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">After initial recognition, these are measured at fair value and changes other than impairment losses and foreign currency differences on debt instruments are recognized in other comprehensive income and presented within equity. When an investment is written off, the result accumulated in other comprehensive income is transferred to income.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company's investments in equity securities and certain debt securities are classified as financial assets at fair value through OCI.</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:ScheduleOfOtherFinancialAssetsTableTextBlock" id="Tag6080" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The balance of other financial assets is composed as following:&#160;</span></p>
<div id="t_ft_HNJI5AD7E800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.836%; height: 108px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tellus&#160;and Janus shares <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_TellusEJanusSharesMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag95" decimals="-3" scale="3" format="ixt:num-dot-decimal">319,727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span><ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_TellusEJanusSharesMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2618" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other financial assets <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_OtherFinancialAssetsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2689" decimals="-3" scale="3" format="ixt:num-dot-decimal">466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_OtherFinancialAssetsMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2611" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2624" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag6214" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9893%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160; Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherCurrentFinancialAssets" unitRef="BRL" id="Tag2630" decimals="-3" scale="3" format="ixt:num-dot-decimal">466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherCurrentFinancialAssets" unitRef="BRL" id="Tag2616" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherNoncurrentFinancialAssets" unitRef="BRL" id="Tag2709" decimals="-3" scale="3" format="ixt:num-dot-decimal">319,727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span><ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherNoncurrentFinancialAssets" unitRef="BRL" id="Tag2626" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag2718" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> <ix:nonFraction contextRef="I20201231_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:OtherFinancialAssets" unitRef="BRL" id="Tag6744" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_KVTDFKA9GW00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; height: 123px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 69px;">
<td style="height: 69px; text-align: right; vertical-align: top; width: 5%; padding: 1px 1px 10px;" valign="top"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="height: 69px; width: 2%; padding: 1px 1px 10px;"><br/></td>
<td style="height: 69px; text-align: justify; width: 93%; padding: 1px 1px 10px;"><span style="font-size: 10pt;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary Radar </span>Propriedades<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Agr&#237;cola<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> S.A. holds investments in preferred shares issued by its related parties </span>Tellus<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Brasil<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Participa&#231;&#245;es<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> S.A. (&#8220;</span>Tellus<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;) and Janus </span>Brasil<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Participa&#231;&#245;es<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. (&#8220;Janus&#8221;), which also buy, sell and rent investment properties. These investments represent&#160;<span><ix:nonFraction contextRef="I20211231_TellusEJanusSharesMember" name="csan:PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" unitRef="Pure" id="Tag6515" decimals="2" scale="-2" format="ixt:num-dot-decimal">5</ix:nonFraction><span style="font-size: 10pt;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of the preferred shares issued by the&#160;</span>Tellus<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and Janus companies. The Company and the other shareholders are entitled to receive&#160;<span><ix:nonFraction contextRef="D20211231_TellusEJanusSharesMember" name="csan:PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" unitRef="Pure" id="Tag2671" decimals="2" scale="-2" format="ixt:num-dot-decimal">90</ix:nonFraction><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of the proposed annual dividends. Investments are redeemable when the entities sell the investment properties, which are valued on a quarterly basis, according to fair market value. Securities are classified as financial instruments at fair value through other comprehensive income.</span></span></span></span></span></span></span></td>
</tr>
<tr style="height: 10px;">
<td style="height: 10px; text-align: right; vertical-align: top; width: 5%;" valign="top"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="height: 10px; width: 2%;"><br/></td>
<td style="height: 10px; text-align: justify; width: 93%;"><span style="font-size: 10pt;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On March 31, 2020,&#160;</span>Cosan<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Lubes Investments Limited (&#8220;CLI&#8221;) received R$&#160;<span><ix:nonFraction contextRef="D20200331_1" name="csan:SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag294" decimals="-3" scale="3" format="ixt:num-dot-decimal">65,478</ix:nonFraction><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;due to the satisfaction of the precedent conditions on December 31, 2019, as provided for in the investment agreement between the Company and CVC Fund VII (&#8220;CVC&#8221;). On April 15, 2021, the updated amount of R$&#160;<span><ix:nonFraction contextRef="D20210415" name="csan:SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" unitRef="BRL" id="Tag2674" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,155</ix:nonFraction><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;was paid, according to the line &#8220;Receipt of consideration asset&#8221; in the cash flow.</span></span></span></span></span></span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
</ix:continuation>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<ix:continuation id="c2071b2e8-b27f-43cb-8bc4-354094fc91db" continuedAt="ce0f2143a-ebf5-4d52-828a-a747f0f670bc">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt; text-align: left;"><span style="font-size: 10pt; text-align: justify; text-indent: -22.6pt; font-weight: bold;"><span style="border-left: none; border-right: none;">6.5</span>.</span><span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 10pt; line-height: normal; text-align: justify; text-indent: -22.6pt;"> </span><span style="font-size: 10pt; text-align: justify; text-indent: -22.6pt; margin-left: 23px; font-weight: bold;">Related parties</span><br/></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><br/></div>
<div id="Normadiv62" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Commercial operations, involving related parties, are carried out at normal market prices. Financial and corporate transactions are carried out in accordance with the contracts established between the parties. Outstanding balances at year end are not guaranteed, are not subject to interest and are settled in cash. <ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction" id="Tag4691" escape="true">There were no guarantees given or received on any accounts receivable or payable involving related parties.</ix:nonNumeric> At the end of each period, an analysis of the recovery of amounts and receivables is carried out and for the years ended December 31, 2021 and 2020 no provision was recognize<span>d.&#160; &#160;</span></span></p>
<ix:exclude>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-39</span></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><b style="color: #000000; font-family: Arial, 'sans-serif'; font-size: 14.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Notes to the consolidated financial statements</span></span></b><br/></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">,<span>&#160;</span></span><span style="font-style: italic;">except earnings per share</span><span style="font-style: italic;">)</span></span></p>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
</ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Balances and transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.<br/></span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfAmountDueFromToRelatedPartyTableTextBlock" id="Tag6082" escape="true">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div id="Normadiv63" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Summary of balances with related parties</span></span></p>
<div id="t_ft_NKYIPW2G1C00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; height: 421px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: center; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: center; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Corporate / agreement operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_RaizenEnergiaMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4619" decimals="-3" scale="3" format="ixt:num-dot-decimal">38,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_RaizenEnergiaMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4244" decimals="-3" scale="3" format="ixt:num-dot-decimal">73,913</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_TermagTerminalMaritimoDeGuarujaSAMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4298" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><ix:nonFraction contextRef="I20201231_CorporateOperationAgreementsMember_TermagTerminalMaritimoDeGuarujaSAMember_CurrentAssetMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4425" xsi:nil="true"></ix:nonFraction> &#8212; </p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aguassanta Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_AguassantaParticipacoesSAMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag140" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,956</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_AguassantaParticipacoesSAMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4" decimals="-3" scale="3" format="ixt:num-dot-decimal">837</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_RaizenMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4668" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,489</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_RaizenMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4582" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_OtherRelatedPartiesMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4587" decimals="-3" scale="3" format="ixt:num-dot-decimal">361</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_OtherRelatedPartiesMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4525" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4520" decimals="-3" scale="3" format="ixt:num-dot-decimal">71,802</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4236" decimals="-3" scale="3" format="ixt:num-dot-decimal">103,092</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Financial operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_RaizenEnergiaMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4431" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,933</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_RaizenEnergiaMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4586" xsi:nil="true"></ix:nonFraction>&#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_RaizenMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4341" decimals="-3" scale="3" format="ixt:num-dot-decimal">45</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_RaizenMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag6752" xsi:nil="true"></ix:nonFraction>&#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span> Rio Minas Minera&#231;&#227;o S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_RioMinasMineracaoSAMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4421" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_RioMinasMineracaoSAMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4624" xsi:nil="true"></ix:nonFraction>&#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">Aguassanta Participa&#231;&#245;es S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_CurrentAssetMember_AguassantaParticipacoesSAMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4225" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_AguassantaParticipacoesSAMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4433" decimals="-3" scale="3" format="ixt:num-dot-decimal">576,957</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag2609" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,478</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4383" decimals="-3" scale="3" format="ixt:num-dot-decimal">576,957</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CurrentAssetMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4517" decimals="-3" scale="3" format="ixt:num-dot-decimal">92,280</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_CurrentAssetMember" name="ifrs-full:TradeAndOtherCurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4395" decimals="-3" scale="3" format="ixt:num-dot-decimal">680,049</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Corporate / agreement operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_RaizenMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4507" decimals="-3" scale="3" format="ixt:num-dot-decimal">47,732</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_NoncurrentAssetMember_RaizenMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4367" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,895</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_TermagTerminalMaritimoDeGuarujaSAMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4483" decimals="-3" scale="3" format="ixt:num-dot-decimal">64,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CorporateOperationAgreementsMember_TermagTerminalMaritimoDeGuarujaSAMember_NoncurrentAssetMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4700" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_OtherRelatedPartiesMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4503" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_NoncurrentAssetMember_OtherRelatedPartiesMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag6755" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,571</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4576" decimals="-3" scale="3" format="ixt:num-dot-decimal">112,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_NoncurrentAssetMember_CorporateOperationAgreementsMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4406" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Preferred shares </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_RaizenEnergiaMember_PreferredSharesMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4390" decimals="-3" scale="3" format="ixt:num-dot-decimal">205,958</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_NoncurrentAssetMember_RaizenEnergiaMember_PreferredSharesMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4584" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,175</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_OtherRelatedPartiesMember_PreferredSharesMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4526" decimals="-3" scale="3" format="ixt:num-dot-decimal">235</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_NoncurrentAssetMember_OtherRelatedPartiesMember_PreferredSharesMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag7006" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember_PreferredSharesMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4695" decimals="-3" scale="3" format="ixt:num-dot-decimal">206,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_NoncurrentAssetMember_PreferredSharesMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4242" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,175</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_NoncurrentAssetMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4302" decimals="-3" scale="3" format="ixt:num-dot-decimal">318,211</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_NoncurrentAssetMember" name="ifrs-full:NoncurrentReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag3922" decimals="-3" scale="3" format="ixt:num-dot-decimal">249,641</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeAndOtherReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4372" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,491</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeAndOtherReceivablesDueFromRelatedParties" unitRef="BRL" id="Tag4510" decimals="-3" scale="3" format="ixt:num-dot-decimal">929,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Corporate / agreement operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CorporateOperationAgreementsMember_RaizenEnergiaMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4369" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,289</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CorporateOperationAgreementsMember_RaizenEnergiaMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4568" decimals="-3" scale="3" format="ixt:num-dot-decimal">146,722</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CorporateOperationAgreementsMember_RaizenMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4460" decimals="-3" scale="3" format="ixt:num-dot-decimal">171,084</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CorporateOperationAgreementsMember_RaizenMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4497" decimals="-3" scale="3" format="ixt:num-dot-decimal">154,366</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CorporateOperationAgreementsMember_OtherRelatedPartiesMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4276" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,365</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CorporateOperationAgreementsMember_OtherRelatedPartiesMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4391" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag128" decimals="-3" scale="3" format="ixt:num-dot-decimal">227,738</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_CorporateOperationAgreementsMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4320" decimals="-3" scale="3" format="ixt:num-dot-decimal">302,246</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Financial operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FinancialOperationsMember_RaizenMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag138" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,959</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_FinancialOperationsMember_RaizenMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4566" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FinancialOperationsMember_RaizenEnergiaMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4601" decimals="-3" scale="3" format="ixt:num-dot-decimal">47,912</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FinancialOperationsMember_RaizenEnergiaMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4229" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,834</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4726" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,871</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_FinancialOperationsMember" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag6999" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,834</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag4345" decimals="-3" scale="3" format="ixt:num-dot-decimal">287,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" unitRef="BRL" id="Tag151" decimals="-3" scale="3" format="ixt:num-dot-decimal">307,080</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="text-align: justify;"><br/></p>
</div>
</div>
</div>
<div id="Normadiv64" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div id="t_ft_167ZPQTVV400000000000000000000b">
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-40</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="text-align: justify;"><br/></p>
</div>
</ix:exclude>
</div>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_41U3ZYQ35C00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="vertical-align: top; width: 3%; text-align: center;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; width: 97%;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote48"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Current and non-current assets receivable from&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Energia<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;reimburse&#160;</span>Cosan<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, with preferential dividends, when the net operating loss is consumed in&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.&#160;<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Current liabilities represent reimburse to&#160;</span>Ra&#237;zen<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Energia<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Ra&#237;zen<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>S.A.<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of&#160;</span>Cosan<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A.</span></span></span></ix:footnote></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: center;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote49"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 11, 2020, the Company disposed of <ix:nonFraction contextRef="I20201211_AguassantaInvestimentosSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag4557" decimals="0" format="ixt:num-dot-decimal">13,021,744</ix:nonFraction> shares that were held in treasury to&#160;</span>Aguassanta<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Investimentos<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. (&#8220;</span>Aguassanta<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;) paid on January 8, 2021.</span></span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
</div>
<div id="Normadiv65" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" id="Tag6081" escape="true">
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Related party transactions</span></span></p>
<div id="t_ft_B7E4JNDXQ800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 263px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 12.0669%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen International Universal Corporation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenInternationalUniversalCorporationMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4544" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenInternationalUniversalCorporationMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4196" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.19474%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_RaizenInternationalUniversalCorporationMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4731" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenEnergiaMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4222" decimals="-3" scale="3" format="ixt:num-dot-decimal">469,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenEnergiaMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4630" decimals="-3" scale="3" format="ixt:num-dot-decimal">483,934</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_RaizenEnergiaMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag7" decimals="-3" scale="3" format="ixt:num-dot-decimal">298,980</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen&#160;S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenMember_1" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag6997" decimals="-3" scale="3" format="ixt:num-dot-decimal">210,447</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenMember_1" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4546" decimals="-3" scale="3" format="ixt:num-dot-decimal">186,359</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_RaizenMember_1" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag149" decimals="-3" scale="3" format="ixt:num-dot-decimal">221,369</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherRelatedPartiesMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4603" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherRelatedPartiesMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4514" decimals="-3" scale="3" format="ixt:num-dot-decimal">268</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_OtherRelatedPartiesMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4473" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,010</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_OtherMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4361" decimals="-3" scale="3" format="ixt:num-dot-decimal">679,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_OtherMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4407" decimals="-3" scale="3" format="ixt:num-dot-decimal">675,704</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_OtherMember" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4422" decimals="-3" scale="3" format="ixt:num-dot-decimal">527,359</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Purchase of goods / inputs / services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenEnergiaMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag147" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenEnergiaMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4496" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,160</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_RaizenEnergiaMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4445" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,010</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenMember_1" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4667" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,543,917</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenMember_1" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4752" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,130,531</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_RaizenMember_1" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4338" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,240,781</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_OtherRelatedPartiesMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4663" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherRelatedPartiesMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag6998" decimals="-3" scale="3" format="ixt:num-dot-decimal">939</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_OtherRelatedPartiesMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4350" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_PurchaseOfGoodsMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4326" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,576,070</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_PurchaseOfGoodsMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4672" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,137,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.19474%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231_PurchaseOfGoodsMember" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" unitRef="BRL" id="Tag4363" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,247,791</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Shared expense </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenEnergiaMember" name="csan:IncomeExpenseFromRelatedPartyTransactions" unitRef="BRL" id="Tag4335" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">73,831</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenEnergiaMember" name="csan:IncomeExpenseFromRelatedPartyTransactions" unitRef="BRL" id="Tag4654" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">81,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_RaizenEnergiaMember" name="csan:IncomeExpenseFromRelatedPartyTransactions" unitRef="BRL" id="Tag4623" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">71,978</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncomeExpenseFromRelatedPartyTransactions" unitRef="BRL" id="Tag4333" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">73,831</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:IncomeExpenseFromRelatedPartyTransactions" unitRef="BRL" id="Tag4216" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">81,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:IncomeExpenseFromRelatedPartyTransactions" unitRef="BRL" id="Tag4632" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">71,978</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Financial result </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Usina Santa Luiza S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_UsinaSantaLuizaMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4215" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_UsinaSantaLuizaMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4673" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_UsinaSantaLuizaMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4737" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">41</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenEnergiaMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4614" decimals="-3" scale="3" format="ixt:num-dot-decimal">139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenEnergiaMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4277" decimals="-3" scale="3" format="ixt:num-dot-decimal">4</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_RaizenEnergiaMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4717" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenMember_1" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4698" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,798</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenMember_1" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4403" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_RaizenMember_1" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4439" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherRelatedPartiesMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4307" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherRelatedPartiesMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4436" decimals="-3" scale="3" format="ixt:num-dot-decimal">47</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_OtherRelatedPartiesMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4366" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_FinancialResultMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4627" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_FinancialResultMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag4378" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,392</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_FinancialResultMember" name="csan:FinanceIncomeCostRelatedPartyTransactions" unitRef="BRL" id="Tag6751" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,683</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff; vertical-align: middle; width: 12.0669%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:OperatingRevenueFromRelatedPartyTransactions" unitRef="BRL" id="Tag4494" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">965,464</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff; vertical-align: middle; width: 11.9474%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:OperatingRevenueFromRelatedPartyTransactions" unitRef="BRL" id="Tag4649" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">536,552</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 1.19474%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff; vertical-align: middle; width: 11.9474%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231" name="csan:OperatingRevenueFromRelatedPartyTransactions" unitRef="BRL" id="Tag4199" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">786,727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 20pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Officers&#8217; and directors&#8217; compensation</span></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has a compensation policy approved by the Board of Directors. Compensation of the Company&#8217;s key management personnel includes salaries, contributions to a post-employment defined benefit plan and share-based payment. We present below the consolidated balance as follows:</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" id="Tag6065" escape="true">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100.001%; height: 74px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Short-term benefits to officers and directors </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits" unitRef="BRL" id="Tag4487" decimals="-3" scale="3" format="ixt:num-dot-decimal">177,405</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits" unitRef="BRL" id="Tag7000" decimals="-3" scale="3" format="ixt:num-dot-decimal">102,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits" unitRef="BRL" id="Tag4475" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,440</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share-based payment transactions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment" unitRef="BRL" id="Tag4359" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,209</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment" unitRef="BRL" id="Tag4246" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:KeyManagementPersonnelCompensationSharebasedPayment" unitRef="BRL" id="Tag4465" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Long-term benefits to officers and directors </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:KeyManagementPersonnelCompensationOtherLongtermBenefits" unitRef="BRL" id="Tag4515" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,863</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:KeyManagementPersonnelCompensationOtherLongtermBenefits" unitRef="BRL" id="Tag4299" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:KeyManagementPersonnelCompensationOtherLongtermBenefits" unitRef="BRL" id="Tag6461" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Post-employment benefits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits" unitRef="BRL" id="Tag4543" decimals="-3" scale="3" format="ixt:num-dot-decimal">750</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits" unitRef="BRL" id="Tag4599" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,045</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:KeyManagementPersonnelCompensationPostemploymentBenefits" unitRef="BRL" id="Tag4482" decimals="-3" scale="3" format="ixt:num-dot-decimal">728</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:KeyManagementPersonnelCompensation" unitRef="BRL" id="Tag136" decimals="-3" scale="3" format="ixt:num-dot-decimal">252,227</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:KeyManagementPersonnelCompensation" unitRef="BRL" id="Tag4388" decimals="-3" scale="3" format="ixt:num-dot-decimal">118,736</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:KeyManagementPersonnelCompensation" unitRef="BRL" id="Tag4440" decimals="-3" scale="3" format="ixt:num-dot-decimal">105,991</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div>
<div id="t_ft_VJLQ4Q9HOG00000000000000000000b">
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-41</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian&#160;reais&#160;- R$, unless otherwise stated)</span></i></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: -21.6pt;"><br/></p>
</div>
</ix:exclude>
</div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">6.6</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold; margin-left: 23px;">Loans, borrowings and debentures</span></span></p>
<p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Borrowings are initially recognized at fair value, net of transaction costs. Borrowings are subsequently measured at amortized cost.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Borrowings are derecognized when the obligation specified in the contract is discharged, canceled or expires. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss as other income or finance costs.<br/></span></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><br/></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least <span style="border-left: none; border-right: none;">12</span> months after the reporting exercise.</span></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial guarantee contracts issued by the Business are initially measured at their fair values and, if not designated as at fair value through profit or loss, are subsequently measured at the higher of:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div id="t_ft_OBWIZ4XPKG00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 4.4856%; text-align: right; margin-left: 0.1px; vertical-align: top;" valign="top">i.</td>
<td style="width: 95.5143%; margin-left: 0.1px; vertical-align: top;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;the amount of the obligation under the contract; and </span></p>
</td>
</tr>
<tr>
<td style="width: 4.4856%; text-align: right; margin-left: 0.1px; vertical-align: top;" valign="top"><br/></td>
<td style="width: 95.5143%; margin-left: 0.1px; vertical-align: top;" valign="top"><br/></td>
</tr>
<tr>
<td style="width: 4.4856%; text-align: right; margin-left: 0.1px; vertical-align: top;" valign="top">ii.</td>
<td style="width: 95.5143%; margin-left: 0.1px; vertical-align: top;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;the amount initially recognized less, where appropriate, cumulative amortization recognized in accordance with the revenue recognition policies. </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms and conditions of outstanding loans are as follows:</span></p>
<div style="border-left: none; border-right: none;">
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfBorrowingsExplanatory" id="Tag6084" escape="true">
<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 359px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 17.8443%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Description </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 17.8443%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Index </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 9.94012%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Annual interest rate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 9.94012%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Maturity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Objective </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Secured </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 17.8443%; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BNDES </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.31737%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 17.8443%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_December2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4420" escape="true">URTJLP</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; width: 9.94012%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_December2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4254" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.49</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.976%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_December2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4701" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,598,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.976%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_December2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag7004" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,321,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.1976%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.94012%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_December2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4401" escape="true">Dec-2029</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.838323%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.976%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_December2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4741" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2025Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4250" escape="true">Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2025Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4670" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.69</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4293" decimals="-3" scale="3" format="ixt:num-dot-decimal">461,756</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4342" decimals="-3" scale="3" format="ixt:num-dot-decimal">647,435</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2025Member" name="ifrs-full:BorrowingsMaturity" id="Tag4374" escape="true">Jan-2025</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2025Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4434" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_November2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4309" escape="true">IPCA</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_November2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag9" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.46</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_November2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4466" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_November2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4468" decimals="-3" scale="3" format="ixt:num-dot-decimal">796</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_November2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4481" escape="true">Nov-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_November2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4343" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_January2048Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4282" escape="true">IPCA</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_January2048Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4285" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.08</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_January2048Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4200" decimals="-3" scale="3" format="ixt:num-dot-decimal">646,624</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_January2048Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag112" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_January2048Member" name="ifrs-full:BorrowingsMaturity" id="Tag4583" escape="true">Jan-2048</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexMember_January2048Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4530" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2024Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4733" escape="true">Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2024Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4461" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4351" decimals="-3" scale="3" format="ixt:num-dot-decimal">727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4534" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,077</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2024Member" name="ifrs-full:BorrowingsMaturity" id="Tag4470" escape="true">Jan-2024</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_FixedInterestRateMember_January2024Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4479" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_March2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4639" escape="true">URTJLP</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_March2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4469" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.34</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_March2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4256" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_March2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4690" decimals="-3" scale="3" format="ixt:num-dot-decimal">396</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_March2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4516" escape="true">Mar-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_URTJLPIndexMember_March2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4281" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus3Point25PercentMember_April2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4513" escape="true">IPCA + <span style="border-left: none; border-right: none;">3.25</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus3Point25PercentMember_April2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4552" decimals="4" scale="-2" format="ixt:num-dot-decimal">13.60</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus3Point25PercentMember_April2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4753" decimals="-3" scale="3" format="ixt:num-dot-decimal">945,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus3Point25PercentMember_April2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4463" decimals="-3" scale="3" format="ixt:num-dot-decimal">807,438</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus3Point25PercentMember_April2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4498" escape="true">Apr-2029</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus3Point25PercentMember_April2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4243" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus4Point10PercentMember_April2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4312" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.10</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus4Point10PercentMember_April2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4437" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.53</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus4Point10PercentMember_April2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4490" decimals="-3" scale="3" format="ixt:num-dot-decimal">154,843</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus4Point10PercentMember_April2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4197" decimals="-3" scale="3" format="ixt:num-dot-decimal">175,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus4Point10PercentMember_April2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4578" escape="true">Apr-2029</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_IPCAIndexPlus4Point10PercentMember_April2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4415" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export credit agreement </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_EuriborIndexPlus0Point58PercentMember_September2026Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4620" escape="true">Euribor + <span style="border-left: none; border-right: none;">0.58</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_EuriborIndexPlus0Point58PercentMember_September2026Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4275" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.58</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_EuriborIndexPlus0Point58PercentMember_September2026Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4327" decimals="-3" scale="3" format="ixt:num-dot-decimal">95,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_ExportCreditAgreementMember_EuriborIndexPlus0Point58PercentMember_September2026Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4424" decimals="-3" scale="3" format="ixt:num-dot-decimal">104,108</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_EuriborIndexPlus0Point58PercentMember_September2026Member" name="ifrs-full:BorrowingsMaturity" id="Tag4358" escape="true">Sep-<span style="border-left: none; border-right: none;">2026</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_EuriborIndexPlus0Point58PercentMember_September2026Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4746" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag129" escape="true">CDI + <span style="border-left: none; border-right: none;">1.03</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4751" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.79</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4360" decimals="-3" scale="3" format="ixt:num-dot-decimal">86,707</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4274" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag142" escape="true">Feb-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag135" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus2Point25PercentMember_May2026Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4412" escape="true">CDI + <span style="border-left: none; border-right: none;">2.25</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus2Point25PercentMember_May2026Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4385" decimals="4" scale="-2" format="ixt:num-dot-decimal">12.28</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus2Point25PercentMember_May2026Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4606" decimals="-3" scale="3" format="ixt:num-dot-decimal">60,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus2Point25PercentMember_May2026Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4575" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus2Point25PercentMember_May2026Member" name="ifrs-full:BorrowingsMaturity" id="Tag4642" escape="true">May-2026</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus2Point25PercentMember_May2026Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4297" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4352" escape="true">CDI + <span style="border-left: none; border-right: none;">0.80</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4625" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.02</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag131" decimals="-3" scale="3" format="ixt:num-dot-decimal">515,928</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4308" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4294" escape="true">Dec-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_ExportCreditAgreementMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag114" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Resolution 4,131 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_Resolution4131Member_USDollarIndexMember_November2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4368" escape="true">U.S.$</ix:nonNumeric></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_Resolution4131Member_USDollarIndexMember_November2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4683" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_Resolution4131Member_USDollarIndexMember_November2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4353" decimals="-3" scale="3" format="ixt:num-dot-decimal">148,932</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_Resolution4131Member_USDollarIndexMember_November2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag6" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_Resolution4131Member_USDollarIndexMember_November2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4590" escape="true">Nov-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_Resolution4131Member_USDollarIndexMember_November2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4641" escape="true">Working Capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point79PercentMember_June2027Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4377" escape="true">CDI + <span style="border-left: none; border-right: none;">1.79</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point79PercentMember_June2027Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4738" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.10</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point79PercentMember_June2027Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4504" decimals="-3" scale="3" format="ixt:num-dot-decimal">753,770</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point79PercentMember_June2027Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag1132" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point79PercentMember_June2027Member" name="ifrs-full:BorrowingsMaturity" id="Tag4559" escape="true">Jun-2027</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point79PercentMember_June2027Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4329" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point30PercentMember_October2027Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4722" escape="true">CDI + <span style="border-left: none; border-right: none;">1.30</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point30PercentMember_October2027Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4396" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.57</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point30PercentMember_October2027Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4681" decimals="-3" scale="3" format="ixt:num-dot-decimal">746,725</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point30PercentMember_October2027Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4495" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point30PercentMember_October2027Member" name="ifrs-full:BorrowingsMaturity" id="Tag4560" escape="true">Oct-2027</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point30PercentMember_October2027Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4334" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point77PercentMember_June2031Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4220" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.77</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point77PercentMember_June2031Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4305" decimals="4" scale="-2" format="ixt:num-dot-decimal">15.27</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point77PercentMember_June2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4198" decimals="-3" scale="3" format="ixt:num-dot-decimal">694,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point77PercentMember_June2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4458" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point77PercentMember_June2031Member" name="ifrs-full:BorrowingsMaturity" id="Tag4524" escape="true">Jun-2031</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point77PercentMember_June2031Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4521" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> European investment bank </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_May2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4213" escape="true">U.S.$ + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.54</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_May2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4674" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.80</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_May2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4591" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_May2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4527" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_May2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4267" escape="true">May-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_May2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4657" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_September2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4376" escape="true">U.S.$ + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.61</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 18px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_September2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4384" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.80</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_September2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4382" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_September2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4296" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,813</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_September2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag6757" escape="true">Sep-<span style="border-left: none; border-right: none;">2021</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_September2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4247" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.94012%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_SecuredBorrowingsMember" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4608" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,911,356</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_SecuredBorrowingsMember" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4732" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,147,093</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<div>
<ix:exclude>
<div style="margin: 0 auto;">
<div><br/></div>
</div>
<div>
<div id="t_ft_DKODF4YW4G00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-42</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</ix:exclude>
</div>
</div>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_7G6KM06HGG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 618px; width: 99.9987%;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Unsecured </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign loans </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.31265%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> GBP&#160;+ Libor 6-month + 1.50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.19332%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_July2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4364" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.68</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_July2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag2660" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.1976%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_July2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4558" decimals="-3" scale="3" format="ixt:num-dot-decimal">143,039</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.1976%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_July2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4555" escape="true">Jul-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_July2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag139" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_November2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4519" escape="true">GBP | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_November2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4523" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.40</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_November2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4227" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,674</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_November2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4665" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,556</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_November2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4313" escape="true">Nov-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_November2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4501" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_December2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag144" escape="true">GBP + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.10</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_December2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4337" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.17</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_December2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4371" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_December2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4413" decimals="-3" scale="3" format="ixt:num-dot-decimal">142,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_December2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4456" escape="true">Dec-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_December2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4484" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_December2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4245" escape="true">GBP + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.50</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_December2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4301" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.92</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_December2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4233" decimals="-3" scale="3" format="ixt:num-dot-decimal">263,501</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_December2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4416" decimals="-3" scale="3" format="ixt:num-dot-decimal">248,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_December2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4399" escape="true">Dec-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_December2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4579" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_EUROIndexFixedInterestRateMember_September2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4344" escape="true">EUR | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_EUROIndexFixedInterestRateMember_September2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4324" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.42</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_EUROIndexFixedInterestRateMember_September2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag1050" decimals="-3" scale="3" format="ixt:num-dot-decimal">857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ForeignLoansMember_EUROIndexFixedInterestRateMember_September2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4716" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,095</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_EUROIndexFixedInterestRateMember_September2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4604" escape="true">Sep-<span style="border-left: none; border-right: none;">2022</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_EUROIndexFixedInterestRateMember_September2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4192" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_December2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4650" escape="true">GBP | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_December2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4380" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4571" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,649</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4655" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_December2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4448" escape="true">Dec-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ForeignLoansMember_GBPIndexFixedInterestRateMember_December2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4386" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export credit notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4535" escape="true">CDI + <span style="border-left: none; border-right: none;">1.03</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4499" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.12</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4317" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4723" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4318" escape="true">Feb-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus1Point03PercentMember_February2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4743" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag308" escape="true">CDI + <span style="border-left: none; border-right: none;">0.80</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4506" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.72</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4300" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4332" decimals="-3" scale="3" format="ixt:num-dot-decimal">505,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4714" escape="true">Dec-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus0Point80PercentMember_December2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4491" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point05PercentMember_March2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4600" escape="true">CDI + <span style="border-left: none; border-right: none;">3.05</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point05PercentMember_March2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4518" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.01</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point05PercentMember_March2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4325" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point05PercentMember_March2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4592" decimals="-3" scale="3" format="ixt:num-dot-decimal">208,464</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point05PercentMember_March2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4398" escape="true">Mar-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point05PercentMember_March2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4689" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point15PercentMember_March2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4370" escape="true">CDI + <span style="border-left: none; border-right: none;">3.15</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point15PercentMember_March2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4537" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.11</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point15PercentMember_March2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4682" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point15PercentMember_March2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4348" decimals="-3" scale="3" format="ixt:num-dot-decimal">468,516</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point15PercentMember_March2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4730" escape="true">Mar-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_ExportCreditNoteMember_CDIIndexPlus3Point15PercentMember_March2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4419" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Resolution 4,131 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexFixedInterestRateMember_November2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4671" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexFixedInterestRateMember_November2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4355" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.60</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexFixedInterestRateMember_November2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4589" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexFixedInterestRateMember_November2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4451" decimals="-3" scale="3" format="ixt:num-dot-decimal">483,625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexFixedInterestRateMember_November2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4289" escape="true">Nov-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexFixedInterestRateMember_November2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4729" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_CDIIndexMember_April2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4585" escape="true">CDI</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_CDIIndexMember_April2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4354" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.60</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_CDIIndexMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag137" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_Resolution4131Member_CDIIndexMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4235" decimals="-3" scale="3" format="ixt:num-dot-decimal">206,908</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_CDIIndexMember_April2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4699" escape="true">Apr-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_CDIIndexMember_April2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4616" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus3Point67PercentMember_May2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4429" escape="true">U.S.$ + <span style="border-left: none; border-right: none;">3.67</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus3Point67PercentMember_May2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag6960" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.67</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus3Point67PercentMember_May2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4268" decimals="-3" scale="3" format="ixt:num-dot-decimal">438,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus3Point67PercentMember_May2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4540" decimals="-3" scale="3" format="ixt:num-dot-decimal">415,232</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus3Point67PercentMember_May2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4645" escape="true">May-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus3Point67PercentMember_May2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4718" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point59PercentMember_April2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4509" escape="true">U.S.$ + <span style="border-left: none; border-right: none;">1.59</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point59PercentMember_April2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag305" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.59</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point59PercentMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4272" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point59PercentMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4539" decimals="-3" scale="3" format="ixt:num-dot-decimal">388,912</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point59PercentMember_April2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4438" escape="true">Apr-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point59PercentMember_April2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4228" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point36PercentMember_February2024Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4545" escape="true">U.S.$ + <span style="border-left: none; border-right: none;">1.36</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point36PercentMember_February2024Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4749" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.36</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point36PercentMember_February2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4719" decimals="-3" scale="3" format="ixt:num-dot-decimal">414,378</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point36PercentMember_February2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4493" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point36PercentMember_February2024Member" name="ifrs-full:BorrowingsMaturity" id="Tag4480" escape="true">Feb-2024</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_Resolution4131Member_USDollarIndexPlus1Point36PercentMember_February2024Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4449" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Banking credit certificates </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 20px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_BankingCreditCertificatesMember_IPCAIndexPlus0Point81PercentMember_January2048Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4704" escape="true">IPCA + <span style="border-left: none; border-right: none;">0.81</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 20px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_BankingCreditCertificatesMember_IPCAIndexPlus0Point81PercentMember_January2048Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4322" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.31</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_BankingCreditCertificatesMember_IPCAIndexPlus0Point81PercentMember_January2048Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4397" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_BankingCreditCertificatesMember_IPCAIndexPlus0Point81PercentMember_January2048Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4745" decimals="-3" scale="3" format="ixt:num-dot-decimal">239,068</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_BankingCreditCertificatesMember_IPCAIndexPlus0Point81PercentMember_January2048Member" name="ifrs-full:BorrowingsMaturity" id="Tag4548" escape="true">Jan-2048</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_BankingCreditCertificatesMember_IPCAIndexPlus0Point81PercentMember_January2048Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4446" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Perpetual Notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PerpetualNotesMember_USDollarIndexMember_November2040Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4414" escape="true">U.S.$</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PerpetualNotesMember_USDollarIndexMember_November2040Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4580" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.25</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PerpetualNotesMember_USDollarIndexMember_November2040Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4349" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,825,420</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_PerpetualNotesMember_USDollarIndexMember_November2040Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4748" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,631,100</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PerpetualNotesMember_USDollarIndexMember_November2040Member" name="ifrs-full:BorrowingsMaturity" id="Tag4340" escape="true">Nov-2040</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PerpetualNotesMember_USDollarIndexMember_November2040Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4284" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2023 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2023Member_USDollarIndexFixedInterestRateMember_March2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4471" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2023Member_USDollarIndexFixedInterestRateMember_March2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4251" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2023Member_USDollarIndexFixedInterestRateMember_March2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4426" decimals="-3" scale="3" format="ixt:num-dot-decimal">685,550</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2023Member_USDollarIndexFixedInterestRateMember_March2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4462" decimals="-3" scale="3" format="ixt:num-dot-decimal">569,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2023Member_USDollarIndexFixedInterestRateMember_March2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4615" escape="true">Mar-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2023Member_USDollarIndexFixedInterestRateMember_March2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4262" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_February2024Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4593" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_February2024Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4336" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.38</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_February2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4656" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_February2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4610" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,514,289</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_February2024Member" name="ifrs-full:BorrowingsMaturity" id="Tag4432" escape="true">Feb-2024</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_February2024Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4214" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_September2024Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4290" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_September2024Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4511" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.95</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_September2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag307" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_September2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4270" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,232,844</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_September2024Member" name="ifrs-full:BorrowingsMaturity" id="Tag4522" escape="true">Sep-<span style="border-left: none; border-right: none;">2024</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2024Member_USDollarIndexFixedInterestRateMember_September2024Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4356" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due <span style="border-left: none; border-right: none;">2025<sup>(i)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember_January2025Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4687" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember_January2025Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4725" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.88</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember_January2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4736" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,981,335</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember_January2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4710" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,067,359</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember_January2025Member" name="ifrs-full:BorrowingsMaturity" id="Tag4754" escape="true">Jan-2025</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember_January2025Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4666" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2027 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2027Member_USDollarIndexFixedInterestRateMember_January2027Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4505" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2027Member_USDollarIndexFixedInterestRateMember_January2027Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4278" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2027Member_USDollarIndexFixedInterestRateMember_January2027Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4594" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,305,928</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2027Member_USDollarIndexFixedInterestRateMember_January2027Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4708" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,379,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2027Member_USDollarIndexFixedInterestRateMember_January2027Member" name="ifrs-full:BorrowingsMaturity" id="Tag4596" escape="true">Jan-2027</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2027Member_USDollarIndexFixedInterestRateMember_January2027Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag7001" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due <span style="border-left: none; border-right: none;">2028<sup>(ii)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember_January2028Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4643" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember_January2028Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4550" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.25</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember_January2028Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4453" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,700,621</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember_January2028Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4459" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,640,840</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember_January2028Member" name="ifrs-full:BorrowingsMaturity" id="Tag7003" escape="true">Jan-2028</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember_January2028Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4224" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2029 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2029Member_USDollarIndexFixedInterestRateMember_September2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4362" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2029Member_USDollarIndexFixedInterestRateMember_September2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4260" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2029Member_USDollarIndexFixedInterestRateMember_September2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4697" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,226,142</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2029Member_USDollarIndexFixedInterestRateMember_September2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4263" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,932,483</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2029Member_USDollarIndexFixedInterestRateMember_September2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4678" escape="true">Sep-<span style="border-left: none; border-right: none;">2029</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2029Member_USDollarIndexFixedInterestRateMember_September2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4500" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due <span style="border-left: none; border-right: none;">2032<sup>(iii)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_January2032Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag141" escape="true">U.S.$ | Fixed</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_January2032Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag306" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.20</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_January2032Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4577" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,800,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_January2032Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4553" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_January2032Member" name="ifrs-full:BorrowingsMaturity" id="Tag4617" escape="true">Jan-2032</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_January2032Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4303" escape="true">Acquisition</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Prepayment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus3Point50PercentMember_March2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4411" escape="true"><span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">3.50</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus3Point50PercentMember_March2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4452" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.57</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus3Point50PercentMember_March2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag6962" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus3Point50PercentMember_March2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4381" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,129</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus3Point50PercentMember_March2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4562" escape="true">Mar-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus3Point50PercentMember_March2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4626" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus1Point00PercentMember_November2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4679" escape="true"><span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">1.00</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus1Point00PercentMember_November2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4226" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.59</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus1Point00PercentMember_November2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4464" decimals="-3" scale="3" format="ixt:num-dot-decimal">111,955</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus1Point00PercentMember_November2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4556" decimals="-3" scale="3" format="ixt:num-dot-decimal">104,318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus1Point00PercentMember_November2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4442" escape="true">Nov-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_Libor3MonthPlus1Point00PercentMember_November2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4707" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_July2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4428" escape="true"><span style="border-left: none; border-right: none;">1.27</span>% Base <span style="border-left: none; border-right: none;">360</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PrepaymentMember_July2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4684" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.27</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PrepaymentMember_July2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag5" decimals="-3" scale="3" format="ixt:num-dot-decimal">166,355</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_PrepaymentMember_July2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4357" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_July2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4702" escape="true">Jul-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PrepaymentMember_July2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag146" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank overdrafts </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_BankOverdraftMember_CDIIndex125Point5PercentMember_January2020Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4280" escape="true"><span style="border-left: none; border-right: none;">125.5</span>% of CDI</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_BankOverdraftMember_CDIIndex125Point5PercentMember_January2020Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4258" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.53</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_BankOverdraftMember_CDIIndex125Point5PercentMember_January2020Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4283" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_BankOverdraftMember_CDIIndex125Point5PercentMember_January2020Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4528" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_BankOverdraftMember_CDIIndex125Point5PercentMember_January2020Member" name="ifrs-full:BorrowingsMaturity" id="Tag4266" escape="true">Jan-2020</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_BankOverdraftMember_CDIIndex125Point5PercentMember_January2020Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4693" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point68PercentMember_February2026Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4365" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.68</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point68PercentMember_February2026Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag133" decimals="4" scale="-2" format="ixt:num-dot-decimal">15.17</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point68PercentMember_February2026Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4400" decimals="-3" scale="3" format="ixt:num-dot-decimal">543,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point68PercentMember_February2026Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4238" decimals="-3" scale="3" format="ixt:num-dot-decimal">595,847</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point68PercentMember_February2026Member" name="ifrs-full:BorrowingsMaturity" id="Tag4635" escape="true">Feb-2026</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point68PercentMember_February2026Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4502" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point50PercentMember_February2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4488" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.50</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point50PercentMember_February2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4694" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.97</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point50PercentMember_February2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4252" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,483,873</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point50PercentMember_February2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4319" decimals="-3" scale="3" format="ixt:num-dot-decimal">739,202</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point50PercentMember_February2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4485" escape="true">Feb-2029</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point50PercentMember_February2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4595" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point60PercentMember_September2020Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4572" escape="true">IPCA + <span style="border-left: none; border-right: none;">3.60</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point60PercentMember_September2020Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4551" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.53</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point60PercentMember_September2020Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4486" decimals="-3" scale="3" format="ixt:num-dot-decimal">361,862</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point60PercentMember_September2020Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4721" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point60PercentMember_September2020Member" name="ifrs-full:BorrowingsMaturity" id="Tag4257" escape="true">Sep-<span style="border-left: none; border-right: none;">2020</span></ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point60PercentMember_September2020Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4685" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point65PercentMember_August2025Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4273" escape="true">CDI + <span style="border-left: none; border-right: none;">2.65</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point65PercentMember_August2025Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4744" decimals="4" scale="-2" format="ixt:num-dot-decimal">12.04</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point65PercentMember_August2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4316" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,858,837</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point65PercentMember_August2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4638" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,740,551</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point65PercentMember_August2025Member" name="ifrs-full:BorrowingsMaturity" id="Tag4221" escape="true">Aug-2025</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point65PercentMember_August2025Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4455" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus6Point80PercentMember_April2030Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4676" escape="true">IPCA + <span style="border-left: none; border-right: none;">6.80</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus6Point80PercentMember_April2030Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4321" decimals="4" scale="-2" format="ixt:num-dot-decimal">17.50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus6Point80PercentMember_April2030Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4677" decimals="-3" scale="3" format="ixt:num-dot-decimal">891,972</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus6Point80PercentMember_April2030Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4747" decimals="-3" scale="3" format="ixt:num-dot-decimal">803,745</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus6Point80PercentMember_April2030Member" name="ifrs-full:BorrowingsMaturity" id="Tag4291" escape="true">Apr-2030</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus6Point80PercentMember_April2030Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4328" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point90PercentMember_October2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4724" escape="true">IPCA + <span style="border-left: none; border-right: none;">3.90</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point90PercentMember_October2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4304" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.31</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point90PercentMember_October2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4287" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,018,844</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point90PercentMember_October2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4734" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,025,777</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point90PercentMember_October2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4740" escape="true">Oct-2029</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus3Point90PercentMember_October2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4648" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<div style="margin: 0 auto;">
<div><br/></div>
</div>
<div>
<div>
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-43</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</ix:exclude>
</div>
</div>
<div id="t_ft_PDR8OZOU0W00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 390px; width: 99.9987%;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point73PercentMember_October2033Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4735" escape="true">IPCA + <span style="border-left: none; border-right: none;">5.73</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point73PercentMember_October2033Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4457" decimals="4" scale="-2" format="ixt:num-dot-decimal">16.33</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point73PercentMember_October2033Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag143" decimals="-3" scale="3" format="ixt:num-dot-decimal">505,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point73PercentMember_October2033Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4715" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point73PercentMember_October2033Member" name="ifrs-full:BorrowingsMaturity" id="Tag4394" escape="true">Oct-2033</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point73PercentMember_October2033Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4492" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_October2029Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4569" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.00</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_October2029Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag148" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.53</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_October2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4477" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_October2029Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4271" decimals="-3" scale="3" format="ixt:num-dot-decimal">255,501</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_October2029Member" name="ifrs-full:BorrowingsMaturity" id="Tag4664" escape="true">Oct-2029</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_October2029Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4239" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_December2035Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4404" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.00</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_December2035Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4279" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.42</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_December2035Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4570" decimals="-3" scale="3" format="ixt:num-dot-decimal">952,671</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_December2035Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4588" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_December2035Member" name="ifrs-full:BorrowingsMaturity" id="Tag4669" escape="true">Dec-2035</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point00PercentMember_December2035Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4418" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point54PercentMember_June2036Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4532" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.54</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point54PercentMember_June2036Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag6961" decimals="4" scale="-2" format="ixt:num-dot-decimal">15.02</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point54PercentMember_June2036Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4417" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,668</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point54PercentMember_June2036Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4750" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point54PercentMember_June2036Member" name="ifrs-full:BorrowingsMaturity" id="Tag4387" escape="true">Jun-2036</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point54PercentMember_June2036Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4392" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point48PercentMember_December2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4705" escape="true">IPCA + <span style="border-left: none; border-right: none;">7.48</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point48PercentMember_December2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4633" decimals="4" scale="-2" format="ixt:num-dot-decimal">18.25</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point48PercentMember_December2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4476" decimals="-3" scale="3" format="ixt:num-dot-decimal">165,478</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point48PercentMember_December2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4288" decimals="-3" scale="3" format="ixt:num-dot-decimal">299,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point48PercentMember_December2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4249" escape="true">Dec-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point48PercentMember_December2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4441" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point36PercentMember_December2025Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4533" escape="true">IPCA + <span style="border-left: none; border-right: none;">7.36</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point36PercentMember_December2025Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4405" decimals="4" scale="-2" format="ixt:num-dot-decimal">18.12</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point36PercentMember_December2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4331" decimals="-3" scale="3" format="ixt:num-dot-decimal">108,451</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point36PercentMember_December2025Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4240" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,956</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point36PercentMember_December2025Member" name="ifrs-full:BorrowingsMaturity" id="Tag4443" escape="true">Dec-2025</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus7Point36PercentMember_December2025Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4739" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point87PercentMember_December2023Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4314" escape="true">IPCA + <span style="border-left: none; border-right: none;">5.87</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point87PercentMember_December2023Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4618" decimals="4" scale="-2" format="ixt:num-dot-decimal">16.48</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point87PercentMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4536" decimals="-3" scale="3" format="ixt:num-dot-decimal">873,474</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point87PercentMember_December2023Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4629" decimals="-3" scale="3" format="ixt:num-dot-decimal">890,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point87PercentMember_December2023Member" name="ifrs-full:BorrowingsMaturity" id="Tag4292" escape="true">Dec-2023</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point87PercentMember_December2023Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4637" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point33PercentMember_October2024Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4234" escape="true">IPCA + <span style="border-left: none; border-right: none;">4.33</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point33PercentMember_October2024Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4636" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.79</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point33PercentMember_October2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4613" decimals="-3" scale="3" format="ixt:num-dot-decimal">501,278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point33PercentMember_October2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4652" decimals="-3" scale="3" format="ixt:num-dot-decimal">452,457</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point33PercentMember_October2024Member" name="ifrs-full:BorrowingsMaturity" id="Tag4574" escape="true">Oct-2024</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus4Point33PercentMember_October2024Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4598" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IGPMIndexPlus6Point10PercentMember_May2028Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag2629" escape="true">IGPM + <span style="border-left: none; border-right: none;">6.10</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IGPMIndexPlus6Point10PercentMember_May2028Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4191" decimals="4" scale="-2" format="ixt:num-dot-decimal">12.11</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IGPMIndexPlus6Point10PercentMember_May2028Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4210" decimals="-3" scale="3" format="ixt:num-dot-decimal">352,235</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IGPMIndexPlus6Point10PercentMember_May2028Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4379" decimals="-3" scale="3" format="ixt:num-dot-decimal">298,706</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IGPMIndexPlus6Point10PercentMember_May2028Member" name="ifrs-full:BorrowingsMaturity" id="Tag4713" escape="true">May-2028</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IGPMIndexPlus6Point10PercentMember_May2028Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4489" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus0Point50PercentMember_October2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4605" escape="true">CDI + <span style="border-left: none; border-right: none;">0.50</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus0Point50PercentMember_October2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4347" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.70</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus0Point50PercentMember_October2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4567" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus0Point50PercentMember_October2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4512" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,007,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus0Point50PercentMember_October2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4628" escape="true">Oct-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus0Point50PercentMember_October2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4612" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point95PercentMember_August2024Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4658" escape="true">CDI + <span style="border-left: none; border-right: none;">1.95</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point95PercentMember_August2024Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4607" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.28</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point95PercentMember_August2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4259" decimals="-3" scale="3" format="ixt:num-dot-decimal">717,651</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point95PercentMember_August2024Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4310" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point95PercentMember_August2024Member" name="ifrs-full:BorrowingsMaturity" id="Tag4549" escape="true">Aug-2024</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point95PercentMember_August2024Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4508" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point12PercentMember_August2031Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4223" escape="true">IPCA + <span style="border-left: none; border-right: none;">5,12</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point12PercentMember_August2031Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4564" decimals="4" scale="-2" format="ixt:num-dot-decimal">15.66</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point12PercentMember_August2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag127" decimals="-3" scale="3" format="ixt:num-dot-decimal">484,974</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point12PercentMember_August2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4306" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point12PercentMember_August2031Member" name="ifrs-full:BorrowingsMaturity" id="Tag130" escape="true">Aug-2031</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point12PercentMember_August2031Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4450" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point22PercentMember_August2036Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4573" escape="true">IPCA + <span style="border-left: none; border-right: none;">5,22</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point22PercentMember_August2036Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4547" decimals="4" scale="-2" format="ixt:num-dot-decimal">15.77</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point22PercentMember_August2036Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4581" decimals="-3" scale="3" format="ixt:num-dot-decimal">477,578</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point22PercentMember_August2036Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4195" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point22PercentMember_August2036Member" name="ifrs-full:BorrowingsMaturity" id="Tag4703" escape="true">Aug-2036</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point22PercentMember_August2036Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4212" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point65PercentMember_August2028Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4647" escape="true">CDI + <span style="border-left: none; border-right: none;">1.65</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point65PercentMember_August2028Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4659" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point65PercentMember_August2028Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4375" decimals="-3" scale="3" format="ixt:num-dot-decimal">774,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point65PercentMember_August2028Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4565" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point65PercentMember_August2028Member" name="ifrs-full:BorrowingsMaturity" id="Tag4423" escape="true">Aug-2028</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus1Point65PercentMember_August2028Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4219" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point00PercentMember_August2031Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4410" escape="true">CDI + <span style="border-left: none; border-right: none;">2.00</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point00PercentMember_August2031Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4554" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.33</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point00PercentMember_August2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4531" decimals="-3" scale="3" format="ixt:num-dot-decimal">930,301</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point00PercentMember_August2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4742" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point00PercentMember_August2031Member" name="ifrs-full:BorrowingsMaturity" id="Tag4688" escape="true">Aug-2031</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_CDIIndexPlus2Point00PercentMember_August2031Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4295" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point75PercentMember_August2031Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4311" escape="true">IPCA + <span style="border-left: none; border-right: none;">5.75</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point75PercentMember_August2031Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4686" decimals="4" scale="-2" format="ixt:num-dot-decimal">16.35</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point75PercentMember_August2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4467" decimals="-3" scale="3" format="ixt:num-dot-decimal">374,761</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point75PercentMember_August2031Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4435" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point75PercentMember_August2031Member" name="ifrs-full:BorrowingsMaturity" id="Tag4602" escape="true">Aug-2031</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_DebenturesMember_IPCAIndexPlus5Point75PercentMember_August2031Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4622" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_WorkingCapitalMember_CDIIndexPlus2Point75PercentMember_June2022Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4447" escape="true">CDI + <span style="border-left: none; border-right: none;">2.75</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_WorkingCapitalMember_CDIIndexPlus2Point75PercentMember_June2022Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4346" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_WorkingCapitalMember_CDIIndexPlus2Point75PercentMember_June2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4644" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,157</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_WorkingCapitalMember_CDIIndexPlus2Point75PercentMember_June2022Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag134" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,045</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_WorkingCapitalMember_CDIIndexPlus2Point75PercentMember_June2022Member" name="ifrs-full:BorrowingsMaturity" id="Tag4661" escape="true">Jun-2022</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_WorkingCapitalMember_CDIIndexPlus2Point75PercentMember_June2022Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4621" escape="true">Working capital</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 12px; width: 17.8998%;">
<p style="margin-left: 13px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Promissory notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 12px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point00PercentMember_April2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4241" escape="true">CDI + <span style="border-left: none; border-right: none;">3.00</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point00PercentMember_April2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4662" decimals="4" scale="-2" format="ixt:num-dot-decimal">12.33</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point00PercentMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4709" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point00PercentMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4712" decimals="-3" scale="3" format="ixt:num-dot-decimal">601,058</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point00PercentMember_April2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4409" escape="true">Apr-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point00PercentMember_April2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag7002" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point40PercentMember_April2021Member" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag132" escape="true">CDI + <span style="border-left: none; border-right: none;">3.40</span>%</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point40PercentMember_April2021Member" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4631" decimals="4" scale="-2" format="ixt:num-dot-decimal">12.73</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point40PercentMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4651" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point40PercentMember_April2021Member" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4529" decimals="-3" scale="3" format="ixt:num-dot-decimal">520,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point40PercentMember_April2021Member" name="ifrs-full:BorrowingsMaturity" id="Tag4373" escape="true">Apr-2021</ix:nonNumeric> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_UnsecuredBorrowingsMember_PromissoryNotesMember_CDIIndexPlus3Point40PercentMember_April2021Member" name="csan:DescriptionOfBorrowingsObjective" id="Tag4597" escape="true">Investment</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_UnsecuredBorrowingsMember" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4323" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,747,681</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_UnsecuredBorrowingsMember" name="csan:LoansAndBorrowings" unitRef="BRL" id="Tag4680" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,102,367</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4255" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,659,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag3" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,249,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ShorttermBorrowings" unitRef="BRL" id="Tag4541" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,241,368</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ShorttermBorrowings" unitRef="BRL" id="Tag145" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,929,069</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4696" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,417,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4427" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,320,391</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
</div>
</div>
</div>
<ix:exclude>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div style="margin: 0 auto;"><br/></div>
</div>
</div>
</div>
</div>
<div style="margin: 0 auto;">
<div>
<div id="t_ft_HQ6VBO4CJ400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-44</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian&#160;reais&#160;- R$, unless otherwise stated)</span></i></span></p>
</div>
</div>
</ix:exclude>
<br/>
<div style="margin: 0pt; text-indent: 11pt;">
<div id="t_ft_8KUSIUJ9U800000000000000000000b">
<table style="height: 72px; width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 1px 1px 5px; vertical-align: top;" valign="top">(i)</td>
<td style="height: 10px; padding: 1px 1px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 1px 1px 5px; vertical-align: top;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote50"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On January 18, 2022, Rumo redeemed its <ix:nonFraction contextRef="I20220118_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4611" decimals="5" scale="-2" format="ixt:num-dot-decimal">5.875</ix:nonFraction>% senior notes due in 2025, in the amount of U.S.$<ix:nonFraction contextRef="I20220118_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:NotionalAmount" unitRef="USD" id="Tag4389" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction>, equivalent to R$<ix:nonFraction contextRef="I20220118_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2025Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4478" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,780,500</ix:nonFraction> pursuant to the terms of the indenture governing the notes.</span></ix:footnote></td>
</tr>
<tr style="height: 22px;">
<td style="margin-left: 0.1px; height: 22px; text-align: left; vertical-align: middle;" colspan="3">Sustainability-linked bonds<br/></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top; width: 8%;" valign="top">(ii)</td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top; width: 91%;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote51"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On July 10, 2020,&#160;</span>Rumo<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;completed an offering of <ix:nonFraction contextRef="I20200710_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4315" decimals="5" scale="-2" format="ixt:num-dot-decimal">5.250</ix:nonFraction>% senior notes due 2028 in an aggregate principal amount of U.S.$<ix:nonFraction contextRef="I20200710_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2028Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4542" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction>. The proceeds of this offering were used to finance certain green projects including the replacement or locomotives and rolling stock, infrastructure to double lines, new yards and extension of yards, and railway modernization.</span></ix:footnote></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top">(iii)</td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote52"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On September 22, 2021,&#160;</span>Rumo<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;completed an offering of <ix:nonFraction contextRef="I20210922_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag8" decimals="5" scale="-2" format="ixt:num-dot-decimal">4.200</ix:nonFraction>% sustainability-linked notes due 2032 in an aggregate principal amount of U.S.$<ix:nonFraction contextRef="I20210922_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4634" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction>. The proceeds of this offering were used for general corporate purposes, including repayment of&#160;</span>Rumo&#8217;s<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;indebtedness.</span></ix:footnote></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top">Rumo&#8217;s<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>Sustainability Performance Target would result in Greenhouse Gas Emissions not exceeding <ix:nonFraction contextRef="D20211231_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember_LaterThanOneYearAndNotLaterThanFiveYearsMember" name="csan:TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" unitRef="Pure" id="Tag4286" decimals="2" format="ixt:num-dot-decimal">11.82</ix:nonFraction> gtCO2e/TKU (gases Co2 equivalent, per net ton-kilometer - which is a freight activity-based metric) by December 31, 2026. For the year ended December 31, 2020, our Greenhouse Gas Emissions were equal to <ix:nonFraction contextRef="D20201231_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember" name="csan:RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" unitRef="Pure" id="Tag4728" decimals="2" format="ixt:num-dot-decimal">14.34</ix:nonFraction> gtCO2e/TKU.</span></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 10px; vertical-align: top;" valign="top"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">From and including July 18, 2027, the interest rate payable on the notes shall be increased by <ix:nonNumeric contextRef="D20211231_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember" name="csan:DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" id="Tag113" escape="true"><span style="border-left: none; border-right: none;">25</span> basis points</ix:nonNumeric> to <span style="border-left: none; border-right: none;"><ix:nonFraction contextRef="D20211231_RumoSAMember_UnsecuredBorrowingsMember_SeniorNotesDue2032Member_USDollarIndexFixedInterestRateMember" name="csan:EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" unitRef="Pure" id="Tag4538" decimals="5" scale="-2" format="ixt:num-dot-decimal">4.450</ix:nonFraction></span>% per annum unless in respect of the year ended December 31, 2026: (i) the Sustainability Performance Target has been satisfied and (ii) the satisfaction of the Sustainability Performance Target has been confirmed by the External Verifier.</span></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; text-indent: 35.45pt;">The Company used the annual average rate of the CDI of </span><ix:nonFraction contextRef="I20211231_WeightedAverageMember_CDIIndexMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4563" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.15</ix:nonFraction><span style="font-size: 10pt; text-indent: 35.45pt;">% and Long-term Interest Rate (Taxa de </span>Juros<span style="font-size: 10pt; text-indent: 35.45pt;"> de Longo </span>Prazo<span style="font-size: 10pt; text-indent: 35.45pt;">), or &#8220;TJLP,&#8221; of </span><ix:nonFraction contextRef="I20211231_WeightedAverageMember" name="ifrs-full:BorrowingsInterestRate" unitRef="Pure" id="Tag4609" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.32</ix:nonFraction><span style="font-size: 10pt; text-indent: 35.45pt;">%.&#160;</span><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfNonCurrentBorrowingsTableTextBlock" id="Tag6083" escape="true">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Non-current borrowings are scheduled to fall due as follows:</span></p>
<div id="t_ft_4UTQ3XAFU800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 167px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13 to 24 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4640" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,339,743</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanOneYearAndNotLaterThanTwoYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4248" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,759,874</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25 to 36 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag6756" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,968,458</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4261" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,667,857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 37 to 48 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFourYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4706" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,029,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanThreeYearsAndNotLaterThanFourYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4727" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,480,137</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 49 to 60 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanFourYearsAndNotLaterThanFiveYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4675" decimals="-3" scale="3" format="ixt:num-dot-decimal">984,015</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanFourYearsAndNotLaterThanFiveYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4339" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,298,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 61 to 72 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanFiveYearsAndNotLaterThanSixYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4269" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,902,914</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanFiveYearsAndNotLaterThanSixYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4402" decimals="-3" scale="3" format="ixt:num-dot-decimal">640,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73 to 84 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanSixYearsAndNotLaterThanSevenYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4330" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,701,952</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanSixYearsAndNotLaterThanSevenYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4720" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,427,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 85 to 96 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanSevenYearsAndNotLaterThanEightYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4472" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,595,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanSevenYearsAndNotLaterThanEightYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4660" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,023,694</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Thereafter </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanEightYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4474" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,895,043</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LaterThanEightYearsMember" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4692" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,023,093</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4393" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,417,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermBorrowings" unitRef="BRL" id="Tag4408" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,320,391</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfCarryingAmountsOfLoansBorrowingsAndDebenturesAreDenominatedByCurrenciesTableTextBlock" id="Tag6064" escape="true">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The carrying amounts of loans, borrowings and debentures are denominated in the following currencies:</span></p>
<div id="t_ft_3H0TOMC8EO00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 70px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brazilian reais </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; <ix:nonFraction contextRef="I20211231_BRL" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4430" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,304,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_BRL" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4253" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,022,405</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S. dollar </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; <ix:nonFraction contextRef="I20211231_USD" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4211" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,806,154</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_USD" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4561" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,551,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> British pound </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211231_GBP" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4264" decimals="-3" scale="3" format="ixt:num-dot-decimal">451,824</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GBP" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4653" decimals="-3" scale="3" format="ixt:num-dot-decimal">569,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Euro </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211231_EURMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4265" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,317</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_EURMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4646" decimals="-3" scale="3" format="ixt:num-dot-decimal">106,203</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; <ix:nonFraction contextRef="I20211231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4711" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,659,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4454" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,249,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All debts denominated in U.S. dollar have currency risk protection through derivative financial instruments (Note 6<span style="border-left: none; border-right: none;">.10</span>), except for perpetual notes.</span></p>
</div>
</div>
</ix:continuation>
</div>
</div>
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<div style="margin: 0 auto;">
<div id="fs_ZXH6ZYE89C00000000000000000000B">
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<div id="Normadiv18" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfMovementsInLoansBorrowingsAndDebenturesTableTextBlock" id="Tag6629" escape="true">
<div>
<div id="t_ft_ZLGT8W1TC000000000000000000000b">
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-45</span></td>
</tr>
</tbody>
</table>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="text-align: justify;"><br/></p>
</div>
</ix:exclude>
</div>
</div>
<p style="margin: 10pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span>Below are the movements in loans, borrowings and debentures occurred for the year ended December 31, 202</span><span>1</span><span>:&#160;</span></span></p>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 192px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 86%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4787" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,052,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Proceeds </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseThroughAcquisitionsBorrowings" unitRef="BRL" id="Tag4818" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,336,257</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" unitRef="BRL" id="Tag4790" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,397,060</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentOfInterestOfLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag6727" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,782,976</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest, exchange rate and fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" unitRef="BRL" id="Tag6726" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,041,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6745" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,249,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Proceeds </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughAcquisitionsBorrowings" unitRef="BRL" id="Tag4799" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,548,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" unitRef="BRL" id="Tag299" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,925,067</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentOfInterestOfLoansBorrowingsAndDebentures" unitRef="BRL" id="Tag4811" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,321,868</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest, exchange rate and fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" unitRef="BRL" id="Tag4804" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,107,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 21px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4798" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,659,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 21px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt;">&#160;</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Guarantees</span></span><br/></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Until September 2021, financing agreements with the European Investment Bank (&#8220;EIB&#8221;), intended for investments, were guaranteed by a bank guarantee, in accordance with each contract. On September 15, 2021, these bank guarantees were settled, due to the expiration of the loan term. On December 31, 2021, the balance of bank guarantees contracted was R$<ix:nonFraction contextRef="D20211231_SecuredBorrowingsMember_EuropeanInvestmentBankMember" name="csan:BalanceOfBankGuaranteesContracted" unitRef="BRL" id="Tag7015" decimals="-3" scale="3" format="ixt:num-dot-decimal">79,020</ix:nonFraction> (R$<ix:nonFraction contextRef="D20201231_SecuredBorrowingsMember_EuropeanInvestmentBankMember" name="csan:BalanceOfBankGuaranteesContracted" unitRef="BRL" id="Tag4810" decimals="-3" scale="3" format="ixt:num-dot-decimal">133,000</ix:nonFraction> on December 31, 2020).</span><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Some financing agreements with the Brazilian National Economic and Social Development Bank (</span><span 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-align: justify; text-indent: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Banco Nacional de Desenvolvimento Econ&#244;mico e Social</span><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;BNDES,&#8221; intended for investments, are also guaranteed, according to each agreement, by bank guarantees with an average cost of<span>&#160;</span></span><ix:nonFraction contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember_WeightedAverageMember" name="csan:GuaranteeFeeRate" unitRef="Pure" id="Tag4814" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.04</ix:nonFraction><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% p.a. or by real guarantees (assets) and escrow account. On December 31, 2021, the balance of bank guarantees contracted was R$</span><ix:nonFraction contextRef="D20211231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember" name="csan:BalanceOfBankGuaranteesContracted" unitRef="BRL" id="Tag6749" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,328,076</ix:nonFraction><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>(R$</span><ix:nonFraction contextRef="D20201231_SecuredBorrowingsMember_BrazilianNationalEconomicandSocialDevelopmentBankMember" name="csan:BalanceOfBankGuaranteesContracted" unitRef="BRL" id="Tag4793" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,687,323</ix:nonFraction><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>as of December 31, 2020).&#160;</span></span></p>
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Available credit line</span></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, the Company had credit lines in banks with AA rating, which were not used, in the total amount of R$ <ix:nonFraction contextRef="I20211231_ThreeBrazilianFinancialInstitutionsMember_CosanSAMember" name="csan:LineOfCreditFacilityRemainingBorrowingCapacity1" unitRef="BRL" id="Tag6747" decimals="-3" scale="3" format="ixt:num-dot-decimal">250,000</ix:nonFraction> (R$ <ix:nonFraction contextRef="I20201231_ThreeBrazilianFinancialInstitutionsMember_CosanSAMember" name="csan:LineOfCreditFacilityRemainingBorrowingCapacity1" unitRef="BRL" id="Tag300" decimals="-3" scale="3" format="ixt:num-dot-decimal">250,000</ix:nonFraction> on December 31, 2020), R$ <ix:nonFraction contextRef="I20211231_RumoSAMember_BNDESMember" name="csan:LineOfCreditFacilityRemainingBorrowingCapacity1" unitRef="BRL" id="Tag4797" decimals="-3" scale="3" format="ixt:num-dot-decimal">898,023</ix:nonFraction> (R$ <ix:nonFraction contextRef="I20201231_RumoSAMember_BNDESMember" name="csan:LineOfCreditFacilityRemainingBorrowingCapacity1" unitRef="BRL" id="Tag4816" decimals="-3" scale="3" format="ixt:num-dot-decimal">487,378</ix:nonFraction> as of December 31, 2020), to Rumo S.A. and R$ <ix:nonFraction contextRef="I20211231_ComgasMember_BNDESMember" name="csan:LineOfCreditFacilityRemainingBorrowingCapacity1" unitRef="BRL" id="Tag4803" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,500,000</ix:nonFraction> to Comg&#225;s.</span></p>
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<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The use of these credit lines is subject to certain contractual conditions.</span></p>
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<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Covenants</span></span></p>
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<p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the terms of the major borrowing facilities, the Company is required to comply with the following financial covenants:</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Debt </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Triggers </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ratios </span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Debenture 1st issue - Cosan S.A.</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_Debentures1StIssueMember_CosanSAMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag4813" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.26</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Resolution 4,131 - Comg&#225;s </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BrazilianNationalEconomicandSocialDevelopmentBankMember_ComgasMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag7168" decimals="4" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="D20211231_Debentures5ThTo8ThIssuesMember_ComgasMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag7169" decimals="4" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="D20211231_Resolution4131Member_ComgasMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag302" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.59</ix:nonFraction></ix:nonFraction></ix:nonFraction></span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BNDES - Comg&#225;s </span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7179">Net debt<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup>/EBITDA<sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup> cannot exceed <span style="border-left: none; border-right: none;">4.00</span></span></span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Debentures of 5<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> to 8<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issues &#8211; Comg&#225;s</span></p>
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<td style="padding: 0px; vertical-align: middle; width: 29.9582%; height: 10px;"><span style="font-family: 'times new roman', times; font-size: 13.3333px;">Debenture of&#160;</span>4<span style="font-size: 8pt;"><sup style="font-family: 'times new roman', times;"><sup><span style="vertical-align: super;">th</span></sup></sup></span><span style="font-family: 'times new roman', times; font-size: 13.3333px;">&#160;issue &#8211; Comg&#225;s</span><br/></td>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7166">Short-term indebtedness/Total indebtedness<sup><span style="vertical-align: super; font-size: 8pt;">(iii)</span></sup> cannot exceed <span style="border-left: none; border-right: none;">0.6</span></span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_DebenturesFourthIssueMember_ComgasMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag4808" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.34</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 11px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2027 &#8211; Cosan S.A. </span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7181">Net debt <span style="font-style: italic;">pro forma</span><sup><span style="vertical-align: super; font-size: 8pt;">(iv)</span></sup>/EBITDA <span style="font-style: italic;">pro forma</span><sup><span style="vertical-align: super; font-size: 8pt;">(ii | iv)</span></sup> not higher than or equal to <span style="border-left: none; border-right: none;">3.5</span></span></span></p>
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<td rowspan="2" style="padding: 0px; vertical-align: middle; height: 21px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_SeniorNotesDue2029Member_CosanSAMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag7170" decimals="4" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="D20211231_SeniorNotesDue2027Member_CosanSAMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag4800" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.11</ix:nonFraction></ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2029 &#8211; Cosan S.A. </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2025 &#8211; Rumo </span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7165">Net debt<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup>/EBITDA<sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup> not higher than or equal to <span style="border-left: none; border-right: none;">3.3</span></span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_SeniorNotesDue2025Member_RumoSAMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag4792" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.79</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BNDES &#8211; Rumo </span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7167">EBITDA/Consolidated financial result<sup><span style="vertical-align: super; font-size: 8pt;">(v)</span></sup> not higher than or equal to <span style="border-left: none; border-right: none;">2.0</span></span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BrazilianNationalEconomicandSocialDevelopmentBankMember_RumoSAMember" name="csan:FinancialCovenantLeverageRatio" unitRef="Pure" id="Tag6725" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.91</ix:nonFraction> </span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-46</span></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="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<td style="width: 3%; height: 10px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 97%; height: 10px; vertical-align: top;" valign="top"><span style="border-right: none; border-left: none;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Net debt consists of current and non-current debt, net of cash and</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">cash equivalents and marketable securities recorded in these</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;consolidated financial statements. Net debt is a non-GAAP measure.</span></span></span></td>
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<td style="height: 19px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="height: 19px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Corresponds to the accumulated EBITDA of the last twelve months.</span></span></td>
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<td style="height: 19px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="height: 19px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Indebtedness means the sum of current and noncurrent loans, financing and debentures, leases and current and noncurrent derivative financial instruments.</span></span></td>
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<td style="height: 17px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td style="height: 17px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Net debt and EBITDA&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">pro forma</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">, including joint ventures financial information. Net debt and EBITDA&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">pro forma</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">are</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;a non-GAAP measure</span></span></span></td>
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<td style="height: 17px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
<td style="height: 17px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The consolidated financial result of the debt is represented by the cost of the consolidated net debt.</span></span></td>
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<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; text-align: justify;">For the other loans, borrowings and debentures of the Company there are no debt financial and non-financial covenants.</span></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On December 31, 2021, the Company was in compliance with all debt financial and non-financial covenants.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms of loans included cross-default provisions.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Fair value and exposure to financial risk</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The fair value of the loans and debentures is based on the discounted cash flow using its implicit discount rate. They are classified as a level 2 fair value in the hierarchy (Note <span style="border-left: none; border-right: none;">6.11</span>) due to the use of unobservable data, including own credit risk.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The details of the Company&#8217;s exposure to risks arising from loans are shown in Note <span style="border-left: none; border-right: none;">6.12</span>.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-47</span></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="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/></p>
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
<p style="margin: 0pt 0pt 0pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">6.7</span>.&#160;</span><span style="font-weight: bold;">Leases</span></span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">At the beginning or in the modification of a contract, the Company assesses whether a contract is or contains a lease.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The lease liability is initially measured at the present value of lease payments that are not made on the start date, discounted at the interest rate implicit in the lease or, if that rate cannot be determined immediately, by the Company&#8217;s incremental loan rate. The Company generally uses its incremental loan rate as a discount rate. At December 31, 2021 and 2020, the lessee&#8217;s incremental borrowing rate applied to the lease liabilities follows a range from <ix:nonFraction contextRef="I20201231_BottomOfRangeMember" name="ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" unitRef="Pure" id="Tag7177" decimals="4" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="I20211231_BottomOfRangeMember" name="ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" unitRef="Pure" id="Tag4817" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.90</ix:nonFraction></ix:nonFraction>% to <ix:nonFraction contextRef="I20201231_TopOfRangeMember" name="ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" unitRef="Pure" id="Tag7176" decimals="4" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="I20211231_TopOfRangeMember" name="ifrs-full:WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" unitRef="Pure" id="Tag4781" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.20</ix:nonFraction></ix:nonFraction>% per year.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Assets and liabilities arising from a lease are initially measured on a present value basis. The lease payments included in the measurement of the lease liability comprise the following:</span></p>
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<td style="height: 10px; margin-left: 0.1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">i.</span></td>
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<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> fixed payments, including fixed payments in essence; </span></p>
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<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;"><br/></td>
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<td style="width: 4.18393%; height: 10px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 10px; margin-left: 0.1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ii.</span></td>
<td style="width: 92.8542%; height: 10px; margin-left: 0.1px;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> variable lease payments that depend on index or rate, initially measured using the index or rate on the start date; </span></p>
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<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
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<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;"><br/></td>
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<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; margin-left: 0.1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iii.</span></td>
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<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> amounts expected to be paid by the lessee, in accordance with the residual value guarantees; and </span></p>
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<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
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<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; vertical-align: top; margin-left: 0.1px;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iv.</span></td>
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<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> the exercise price of the call option if the lessee is reasonably certain to exercise that option, and payment of fines for terminating the lease, if the lease term reflects the lessee exercising the option to terminate the lease. </span></p>
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">To determine the incremental borrowing rate, the Company:</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<td style="height: 10px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">i.</span></td>
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<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received; </span></p>
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<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ii.</span></td>
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<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by the Company, which does not have recent third-part financing; and </span></p>
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<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iii.</span></td>
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<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> makes adjustments specific to the lease, e.g., term, country, currency and security. </span></p>
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.</span></p>
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<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.</span></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of <ix:nonNumeric contextRef="D20211231_5" name="csan:PeriodOfLeaseTermOfShortTermLeases" id="Tag1273" format="ixt-sec:durmonth">12</ix:nonNumeric> months or less. Low-value assets comprise IT equipment and small items of office furniture.</span></p>
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<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In determining the lease term, the Company considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).</span></p>
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For leases of warehouses, retail stores and equipment, the following factors are normally the most relevant:</span></p>
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<td style="height: 17px; width: 2.95748%; text-align: left;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="height: 17px; width: 96.9575%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">If there are significant penalties to terminate (or not extend), the group is typically reasonably certain to extend (or not terminate).</span></td>
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<td style="height: 17px; width: 2.95748%; text-align: left;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="height: 17px; width: 96.9575%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">If any leasehold improvements are expected to have a significant remaining value, the Company is typically reasonably certain to extend (or not terminate).</span></td>
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<td style="height: 17px; width: 2.95748%; text-align: left;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span><br/></td>
<td style="height: 17px; width: 96.9575%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Otherwise, the Company considers other factors including historical lease durations and the costs and business disruption required to replace the leased asset.</span></td>
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<p style="text-align: justify; margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Most extension options in offices and vehicles leases have not been included in the lease liability, because the Company could replace the assets without significant cost or business disruption.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent valuation of the lease liability is at amortized cost, using the effective interest method. It is remeasured when there is a change in future lease payments resulting from a change in index or rate, if there is a change in the amounts that are expected to be paid according to the residual value guarantee, if the Company changes its valuation, an option will be exercised purchase, extension or termination or if there is an essentially fixed revised lease payment.</span></p>
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<p style="margin: 0pt 0pt 10pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; text-indent: 35.45pt;">When the lease liability is remeasured in this way, an adjustment corresponding to the carrying amount of the right-of-use asset is made or is recorded in the income statement if the carrying amount of the right-of-use asset has been reduced to </span><span style="border-left: none; border-right: none;">zero</span><span style="font-size: 10pt; text-indent: 35.45pt;">.</span><br/></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfLeasesExplanatory" id="Tag293" escape="true">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The balance sheet shows the following amounts relating to lease liabilities:</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231" name="ifrs-full:LeaseLiabilities" unitRef="BRL" id="Tag4815" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,594,888</ix:nonFraction> </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" unitRef="BRL" id="Tag1156" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,531,470</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:InterestExpenseOnLeaseLiabilities" unitRef="BRL" id="Tag6730" decimals="-3" scale="3" format="ixt:num-dot-decimal">606,529</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Transfer between liabilities<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:TransferOfLiabilities" unitRef="BRL" id="Tag4805" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">111,737</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentOfLeasePrincipal" unitRef="BRL" id="Tag4782" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,424,917</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:PaymentOfLeaseInterest" unitRef="BRL" id="Tag4801" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">500,922</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary adjustment </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:ContractsMonetaryCorrection" unitRef="BRL" id="Tag4791" decimals="-3" scale="3" format="ixt:num-dot-decimal">306,536</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LeaseLiabilities" unitRef="BRL" id="Tag4806" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,001,847</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:AcquisitionsThroughBusinessCombinationsLeaseLiabilities" unitRef="BRL" id="Tag4783" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,281</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" unitRef="BRL" id="Tag4802" decimals="-3" scale="3" format="ixt:num-dot-decimal">142,562</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:InterestExpenseOnLeaseLiabilities" unitRef="BRL" id="Tag4786" decimals="-3" scale="3" format="ixt:num-dot-decimal">426,313</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Transfer between liabilities<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:TransferOfLiabilities" unitRef="BRL" id="Tag6731" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">54,139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentOfLeasePrincipal" unitRef="BRL" id="Tag4807" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">461,040</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:PaymentOfLeaseInterest" unitRef="BRL" id="Tag4809" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">165,301</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:ContractsMonetaryCorrection" unitRef="BRL" id="Tag4795" decimals="-3" scale="3" format="ixt:num-dot-decimal">374,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LeaseLiabilities" unitRef="BRL" id="Tag4794" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,267,678</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentLeaseLiabilities" unitRef="BRL" id="Tag301" decimals="-3" scale="3" format="ixt:num-dot-decimal">405,820</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentLeaseLiabilities" unitRef="BRL" id="Tag304" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,861,858</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; padding-left: 30px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote1">Transfer of railroad concession payable to lease (Note 13).</ix:footnote></span></p>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Lease agreements have different terms, with longest due to expire in December 2058. The amounts are adjusted annually for inflation rates, as measured by the General Market Price Index (<span>&#205;ndice Geral de Pre&#231;os &#8211; Mercado</span>, or &#8220;IGP-M,&#8221; or Extended National Consumer Price Index (<span>&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo</span>), or &#8220;IPCA,&#8221; or may incur interest based on the TJLP or CDI and some contracts have renewal or purchase options that were considered in determining the classification as lease.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;The Company does not face a significant liquidity risk with regard to the payment of its lease liabilities. Lease liabilities are monitored within the Company's treasury function.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:ScheduleOfLeasesCostTableTextBlock" id="Tag6760" escape="true">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition to the payment and appropriation of interest and exchange variation highlighted in the previous tables, the following impacts on income were recorded for other lease agreements that were not included in the measurement of lease liabilities:</span><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div id="t_ft_V5I23Z5R9C00000000000000000000b">
<table cellpadding="0" style="height: 83px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 202</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">1</span></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; text-align: right;"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 59%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> Variable lease payments not included&#160;in the measurement of lease liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; width: 12%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" unitRef="BRL" id="Tag4796" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,482</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" unitRef="BRL" id="Tag298" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,045</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" unitRef="BRL" id="Tag297" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,691</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expenses relating to short-term leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" unitRef="BRL" id="Tag4812" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,507</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" unitRef="BRL" id="Tag4819" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,101</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" unitRef="BRL" id="Tag6729" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,143</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expenses relating to leases of low-value assets&#160;excluding short-term leases of low-value assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" unitRef="BRL" id="Tag4789" decimals="-3" scale="3" format="ixt:num-dot-decimal">978</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" unitRef="BRL" id="Tag4788" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" unitRef="BRL" id="Tag303" decimals="-3" scale="3" format="ixt:num-dot-decimal">348</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="D20211231_5" name="csan:LeaseExpense" unitRef="BRL" id="Tag6728" decimals="-3" scale="3" format="ixt:num-dot-decimal">66,967</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="csan:LeaseExpense" unitRef="BRL" id="Tag4784" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,693</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px; text-align: right;"><span style="font-weight: bold; font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="csan:LeaseExpense" unitRef="BRL" id="Tag4785" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,182</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
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<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div>
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<table style="width: 100%; font-family: &quot;times new roman&quot;; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-50</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
</div>
</div><div id="Normadiv22" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
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<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">6.8</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Trade payables</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
</div>
<div style="margin: 0 auto;">
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<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span>The carrying amounts of trade payables are the same as their fair values, due to their short-term nature. Trade payables are generally paid within 30 days of recognition.</span></p>
<div id="t_ft_M832BXGMS000000000000000000000b">
<table cellpadding="0" style="height: 114px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Materials and service suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_MaterialsAndServiceSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag6759" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,847,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_MaterialsAndServiceSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag6234" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,675,553</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas and transportation suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NaturalGasAndTransportationSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag4774" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,314,946</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_NaturalGasAndTransportationSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag6732" decimals="-3" scale="3" format="ixt:num-dot-decimal">780,141</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity and transportation suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_ElectricityAndTransportationSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag6239" decimals="-3" scale="3" format="ixt:num-dot-decimal">74,893</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ElectricityAndTransportationSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag4777" decimals="-3" scale="3" format="ixt:num-dot-decimal">141,418</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fuels and lubricants suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FuelAndLubricantsSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag2797" decimals="-3" scale="3" format="ixt:num-dot-decimal">118</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FuelAndLubricantsSuppliersMember" name="ifrs-full:TradeAndOtherPayablesToTradeSuppliers" unitRef="BRL" id="Tag2778" decimals="-3" scale="3" format="ixt:num-dot-decimal">727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231" name="ifrs-full:OtherPayables" unitRef="BRL" id="Tag4772" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,325</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:OtherPayables" unitRef="BRL" id="Tag2818" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:TradeAndOtherPayables" unitRef="BRL" id="Tag6237" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,253,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:TradeAndOtherPayables" unitRef="BRL" id="Tag2814" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,630,054</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.9</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Sector financial asset and liability</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">Sector financial assets and liabilities are intended to offset the economic impacts on profit or loss of Comg&#225;s which arise from the difference between the cost of gas, the rates set by the administrative rulings issued by ARSESP, and the effective cost incurred by the Company, which will have to be adjusted through tariff review.</span></p>
</div>
<div style="margin: 0 auto;">
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<div>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-51</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
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<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">These differences between actual cost and cost considered in the tariff adjustments generate a right to the extent that the actual cost is higher than the cost specified in the tariff, or an obligation, when the actual costs are lower than those per the tariff. The differences are considered by ARSESP in the subsequent tariff adjustment and are included in Comg&#225;s&#8217;s tariff adjustment index.</span></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">As provided in Resolution No. 1,010 published by ARSESP, Comg&#225;s will be reimbursed for any balances existing at the end of the concession period or such balances will be returned to users within the period of 12 months before the end of the concession period, depending on whether the balances in regulatory accounts will be monetized and/or settled once they are included in the tariff on a prospective basis, which is determined up on each ARSESP ruling (which typically occur every quarter). The balance consists of: (i) the previous cycle (under amortization), which represents the balance approved by ARSESP already included in the tariff, and (ii) the cycle being constituted, which includes the differences to be approved by ARSESP in the next tariff adjustment.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, this resolution covered the balance contained in the current account of taxes, which accumulated amounts related to tax credits used by Comg&#225;s, but which essentially are part of the tariff composition and must be subsequently transferred in the tariff.</span></p>
<div style="border-left: none; border-right: none;">
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The changes in net sector financial asset (liability) for the year ended December 31, 2021, were as follows:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_LJVRRT678G00000000000000000000b">
<table cellpadding="0" style="height: 190px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 62.5%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.80392%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sectorial assets </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sectorial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 01, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20191231_SectorFinancialAssetsMember" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag4779" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20191231_SectorFinancialLiabilitiesMember" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag2805" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20191231" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag60" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of gas <sup>(i) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SectorFinancialAssetsMember" name="csan:CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag6251" decimals="-3" scale="3" format="ixt:num-dot-decimal">201,346</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_SectorFinancialLiabilitiesMember" name="csan:CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag1279" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2829" decimals="-3" scale="3" format="ixt:num-dot-decimal">201,346</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax credits <sup>(ii) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_SectorFinancialAssetsMember" name="csan:CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2816" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_SectorFinancialLiabilitiesMember" name="csan:CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag62" decimals="-3" scale="3" format="ixt:num-dot-decimal">565,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2827" decimals="-3" scale="3" format="ixt:num-dot-decimal">565,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest <sup>(iii) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SectorFinancialAssetsMember" name="csan:IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" unitRef="BRL" id="Tag2808" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,458</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_SectorFinancialLiabilitiesMember" name="csan:IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" unitRef="BRL" id="Tag2795" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" unitRef="BRL" id="Tag7122" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,458</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other revenue <sup>(iv)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SectorFinancialAssetsMember" name="csan:IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" unitRef="BRL" id="Tag2806" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,945</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_SectorFinancialLiabilitiesMember" name="csan:IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" unitRef="BRL" id="Tag2793" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" unitRef="BRL" id="Tag6758" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,945</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SectorFinancialAssetsMember" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag2768" decimals="-3" scale="3" format="ixt:num-dot-decimal">241,749</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_SectorFinancialLiabilitiesMember" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag1278" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">565,911</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag6244" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">324,162</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of gas <sup>(i) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SectorFinancialAssetsMember" name="csan:CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2796" decimals="-3" scale="3" format="ixt:num-dot-decimal">228,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_SectorFinancialLiabilitiesMember" name="csan:CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag6238" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2828" decimals="-3" scale="3" format="ixt:num-dot-decimal">228,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span 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: 13.3333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax credits&#160;<sup>(ii)</sup>&#160;</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_SectorFinancialAssetsMember" name="csan:CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2789" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_SectorFinancialLiabilitiesMember" name="csan:CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag6241" decimals="-3" scale="3" format="ixt:num-dot-decimal">542,962</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" unitRef="BRL" id="Tag2781" decimals="-3" scale="3" format="ixt:num-dot-decimal">542,962</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span 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: 13.3333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Interest<span>&#160;<sup>(iii)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SectorFinancialAssetsMember" name="csan:IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" unitRef="BRL" id="Tag2821" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,699</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_SectorFinancialLiabilitiesMember" name="csan:IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" unitRef="BRL" id="Tag6733" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">263,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" unitRef="BRL" id="Tag2813" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">243,711</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other revenue <sup>(iv) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SectorFinancialAssetsMember" name="csan:IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" unitRef="BRL" id="Tag59" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,709</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_SectorFinancialLiabilitiesMember" name="csan:IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" unitRef="BRL" id="Tag2803" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" unitRef="BRL" id="Tag63" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,709</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 62.5%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.80392%; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SectorFinancialAssetsMember" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag2819" decimals="-3" scale="3" format="ixt:num-dot-decimal">558,310</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_SectorFinancialLiabilitiesMember" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag6250" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,372,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:SectorFinancialAssetLiability" unitRef="BRL" id="Tag2810" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">813,973</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<div id="t_ft_2GK3SDMAPC00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr>
<td style="vertical-align: top; width: 11%; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote56"><span>Refers to the cost of gas purchased higher than that contained in the tariffs, <ix:nonFraction contextRef="I20211231" name="csan:PercentageOfCostOfGasClassifiedInCurrentAssets" unitRef="Pure" id="Tag2801" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% classified in current assets, since ARSESP's resolution provides for tariff recovery on a quarterly basis for the industrial segment, which is a substantial part of the volume of gas distributed by the subsidiary Comg&#225;s.</span></ix:footnote></td>
</tr>
<tr>
<td style="vertical-align: top; width: 11%; text-align: right;"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_W2BHTPDQ2O00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr>
<td style="width: 11%; vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 88%; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote59"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> <span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-IN; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Exclusion of the ICMS from the PIS and COFINS calculation basis.</span></span></span></ix:footnote></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><br/></td>
<td><br/></td>
<td style="text-align: justify;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td><br/></td>
<td style="text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote60"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> <span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts.</span>&#160;</span></span></ix:footnote><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><br/></td>
<td><br/></td>
<td style="text-align: justify;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td><br/></td>
<td style="text-align: justify;">
<p style="margin: 0px; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif; text-indent: 0px;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote61"><span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-ansi-language: EN-US;">Corresponding to inflation as measured by the General Market Price Index (<span style="font-style: italic;">&#205;ndice Geral de Pre&#231;os &#8211; Mercado</span>), or &#8220;IGP-M,&#8221; for the residential and commercial segments.</span></ix:footnote></p>
</td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><br/></td>
<td><br/></td>
<td style="text-align: justify;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
<div style="margin: 0 auto;">
<ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
</div>
<div>
<div id="t_ft_5OJG6UX3TC00000000000000000000b">
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<tbody>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-52</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/></p>
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</ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.10</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span><span style="font-weight: bold;">Derivative financial instruments</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. The Company designates certain derivatives as either:</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div id="t_ft_XBSSVYY5KW00000000000000000000b">
<table style="width: 99.9987%; font-family: 'times new roman'; font-size: 10pt; height: 55px; border-collapse: collapse;">
<tbody>
<tr style="height: 18px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 18px;"><br/></td>
<td style="height: 18px; vertical-align: top; text-align: right; width: 1.46708%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; text-align: right; width: 2.06995%; height: 18px;"><br/></td>
<td style="text-align: justify; height: 18px; vertical-align: top; width: 92.2798%;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges); or </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 17px;"><br/></td>
<td style="vertical-align: top; text-align: right; height: 17px; width: 1.46708%;" valign="top"><br/></td>
<td style="vertical-align: top; text-align: right; height: 17px; width: 2.06995%;"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 17px; width: 92.2798%;" valign="top"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 10px;"><br/></td>
<td style="height: 10px; vertical-align: top; text-align: right; width: 1.46708%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top; text-align: right; height: 10px; width: 2.06995%;"><br/></td>
<td style="text-align: justify; height: 10px; vertical-align: top; width: 92.2798%;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> hedges of a particular risk associated with the cash flows of recognized assets and liabilities and highly probable forecast transactions (cash flow hedges). </span></p>
</td>
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<tr style="height: 10px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 10px;"><br/></td>
<td style="vertical-align: top; text-align: right; height: 10px; width: 1.46708%;" valign="top"><br/></td>
<td style="vertical-align: top; text-align: right; height: 10px; width: 2.06995%;"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 10px; width: 92.2798%;" valign="top"><br/></td>
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</div>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">At inception of the hedge relationship, the Company documents the economic relationship between hedging instruments and hedged items including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The Company documents its risk management objective and strategy for undertaking its hedge transactions. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in profit or loss and are included in other gains / (losses).</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span>The fair values of derivative financial instruments designated in hedge relationships are disclosed below. The full fair value of a hedging derivative is classified as a non-current asset or liability when the remaining maturity of the hedged item is more than 12 months; it is classified as a current asset or liability when the remaining maturity of the hedged item is less than 12 months.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span>The Company makes an assessment, both at the inception of the hedge relationship as well as on an ongoing basis, of whether the hedging instruments are expected to be highly effective in offsetting the changes in the fair value or cash flows of the respective hedged items attributable to the hedged risk, and whether the actual results of each hedge are within a range of <ix:nonFraction contextRef="D20211231_BottomOfRangeMember" name="csan:HedgedRiskPositonPercentage" unitRef="Pure" id="Tag2823" decimals="2" scale="-2" format="ixt:num-dot-decimal">60</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_TopOfRangeMember" name="csan:HedgedRiskPositonPercentage" unitRef="Pure" id="Tag2809" decimals="2" scale="-2" format="ixt:num-dot-decimal">140</ix:nonFraction>%.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has a portfolio of energy contracts (purchase and sale) aimed at meeting energy supply and demand requirements. There is also a portfolio of contracts that comprises forward positions, generally of short term. For this portfolio there is <ix:nonFraction contextRef="I20211231_ElectricityDistributionMember" name="csan:PurchaseCommitments" unitRef="BRL" id="Tag2804" decimals="-3" scale="3" format="ixt-sec:numwordsen">no</ix:nonFraction> purchase commitment with a sale contra<span>ct.</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span><br/></span></span></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">The Company has flexibility to manage the contracts in this portfolio in order to obtain gains due to variations in market prices, considering its risk policies and limits. Contracts in this portfolio may be settled in cash or in another financial instrument (for example: by entering into an offset contract with a counterparty; or &#8220;undoing its position&#8221; of the contract before its exercise or expiration; or shortly after the purchase, making a sale in order to generate profit from short-term fluctuations in the price or gain with resale margin.</span></p>
<ix:exclude>
<div id="Normadiv24" style="font-family: 'times new roman', times; font-size: 10pt;">
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<div id="t_ft_JNSB65TR1C00000000000000000000b">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-53</span></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>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
</div>
</div>
</ix:exclude>
</div>
</div>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">These energy purchase and sale transactions are carried out in an active market and meet the definition of financial instruments due to the fact that they are settled in cash and are readily convertible into money. These contracts are accounted for as derivatives and are recognized in the statement of financial position at fair value at the date a derivative contract is entered into and are remeasured to fair value at the end of the reporting perio<span>d.</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when the Company currently has a legally enforceable right to set off the recognized amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. The legally enforceable rights must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or counterparty.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of these derivatives is estimated partly based on price quotations published in active markets, to the extent that such observable market data exist, and partly through the use of valuation techniques which consider: (i) prices established in recent purchase and sale transactions, (ii) risk margin in supply, and (iii) forecast market price in the availability period. Whenever the fair value on initial recognition for these contracts differs from the transaction price, a fair vale gain or fair value loss is recognized at the end of the reporting date.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory" id="Tag7134" escape="true">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The impact of the hedging instruments on the consolidated statement of financial position is, as follows:</span></p>
<div style="border-left: none; border-right: none;">
<div id="t_ft_XDYSMWEW8W00000000000000000000b">
<table cellpadding="0" style="height: 347px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 51.947%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 22.4492%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 22.1776%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Fair value </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.4881%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="margin: 0pt; text-align: center;"><span> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21655%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Exchange rate derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Forward agreements<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ExchangeRateDerivativesMember_ForwardContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6249" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,313,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ExchangeRateDerivativesMember_ForwardContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2792" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,656,489</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_ExchangeRateDerivativesMember_ForwardContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2798" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,305</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ExchangeRateDerivativesMember_ForwardContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag6240" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,227</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Electricity derivatives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.4881%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.21655%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 13.3333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Forward agreements</span><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ElectricityDerivativesMember_ForwardContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6246" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,407,476</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ElectricityDerivativesMember_ForwardContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6245" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,354,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_ElectricityDerivativesMember_ForwardContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag6242" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">248,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ElectricityDerivativesMember_ForwardContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2769" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">189,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fuel derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Forward agreements</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_ForwardContractMember_FuelDerivativesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2785" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ForwardContractMember_FuelDerivativesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2786" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,422</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_ForwardContractMember_FuelDerivativesMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2799" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ForwardContractMember_FuelDerivativesMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2790" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">348</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 9.942%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ExchangeRateDerivativesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6235" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,407,476</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 10.0249%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ExchangeRateDerivativesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2831" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,368,389</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 10.0249%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span>(<ix:nonFraction contextRef="I20211231_ExchangeRateDerivativesMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2830" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">248,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.21655%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 9.942%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ExchangeRateDerivativesMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag7121" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">189,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 51.947%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest rate and exchange rate risk </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (shares)<sup><span style="vertical-align: super; font-size: 8pt;">(iii)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2815" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,074,113</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6236" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag4773" decimals="-3" scale="3" format="ixt:num-dot-decimal">270,462</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2800" decimals="-3" scale="3" format="ixt:num-dot-decimal">79,950</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (inflation and interest rate)<sup><span style="vertical-align: super; font-size: 8pt;">(iv)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_InflationAndInterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2807" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,590,408</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_InflationAndInterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4775" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,229,136</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_InflationAndInterestRateSwapContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2779" decimals="-3" scale="3" format="ixt:num-dot-decimal">77,913</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_InflationAndInterestRateSwapContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2822" decimals="-3" scale="3" format="ixt:num-dot-decimal">408,867</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (interest rate)<sup><span style="vertical-align: super; font-size: 8pt;">(v)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2820" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,019,917</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2812" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,399,997</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_InterestRateSwapContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2787" decimals="-3" scale="3" format="ixt:num-dot-decimal">154,654</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_InterestRateSwapContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag6252" decimals="-3" scale="3" format="ixt:num-dot-decimal">755,355</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (exchange and interest rate)<sup><sup><span style="vertical-align: super;">(iv)</span></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_ExchangeAndInterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4778" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,223,981</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_ExchangeAndInterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag61" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,405,896</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_ExchangeAndInterestRateSwapContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag6995" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,380,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember_ExchangeAndInterestRateSwapContractMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2777" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,650,465</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2811" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,908,419</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6243" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,635,029</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag4776" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,883,583</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_InterestRateAndExchangeRateRiskMember" name="csan:FairValueOfDerivativeFinancialAssetsLiability" unitRef="BRL" id="Tag2780" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,894,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 51.947%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.942%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0249%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="csan:DerivativeFinancialInstruments" unitRef="BRL" id="Tag64" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,656,765</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="csan:DerivativeFinancialInstruments" unitRef="BRL" id="Tag2782" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,694,639</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.13379%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 17px;"><span style="font-weight: bold;">Current assets</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag2802" decimals="-3" scale="3" format="ixt:num-dot-decimal">194,878</ix:nonFraction></span><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag2817" decimals="-3" scale="3" format="ixt:num-dot-decimal">587,894</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">Non-current assets</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; background-color: #cceeff; height: 17px;"><span><ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag6248" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,538,048</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; background-color: #cceeff; height: 17px;"><span><ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentDerivativeFinancialAssets" unitRef="BRL" id="Tag2824" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,552,806</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 17px;"><span style="font-weight: bold;">Current liabilities</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; height: 17px;"><span>(<ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag2825" decimals="-3" scale="3" format="ixt:num-dot-decimal">925,650</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; text-align: left; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; height: 17px;"><span>(<ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag2783" decimals="-3" scale="3" format="ixt:num-dot-decimal">321,890</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">Non-current liabilities</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; background-color: #cceeff; height: 17px;"><span>(<ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag6247" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,511</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; margin: 0px; text-indent: 0px; text-align: left; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; background-color: #cceeff; height: 17px;"><span>(<ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" unitRef="BRL" id="Tag2826" decimals="-3" scale="3" format="ixt:num-dot-decimal">124,171</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 18px;"><span style="font-weight: bold;">Total</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 18px;"><span><ix:nonFraction contextRef="I20211231" name="csan:DerivativeFinancialInstruments" unitRef="BRL" id="Tag2771" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,656,765</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 18px;"><span><ix:nonFraction contextRef="I20201231" name="csan:DerivativeFinancialInstruments" unitRef="BRL" id="Tag6233" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,694,639</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div id="t_ft_ETWRX8A75C00000000000000000000b">
<ix:exclude>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<p><br/></p>
</div>
</div>
<div>
<div id="t_ft_Y8FZ8ZOMCG00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-54</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i><br/><i></i></p>
</div>
</div>
</div>
</ix:exclude>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_503JPFE2CW00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr>
<td style="width: 7%; vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 92%; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote58"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company and its subsidiaries TRSP and Moove have forward foreign exchange contracts to hedge exposures and expenses in foreign currency.</span></span></ix:footnote></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote57"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary Compass&#160;</span>G&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;e&#160;</span>Energia<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;has a portfolio of energy contracts (purchase and sale) aimed at meeting demands and offers for consumption or supply of energy. In addition, there is a portfolio of contracts that comprises forward positions, usually short-term. For this portfolio, there is <ix:nonFraction contextRef="I20211231_ElectricityDistributionMember_CompassGasEEnergiaSAMember" name="csan:PurchaseCommitments" unitRef="BRL" id="Tag2791" decimals="-3" scale="3" format="ixt-sec:numwordsen">no</ix:nonFraction> purchase commitment with a sales contract.</span></span></span></ix:footnote></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote53"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">During 2021, the Company entered into derivative negotiations, or Total Return Swap, with commercial banks. Under the Total Return Swap, which will have financial settlement,&#160;</span>Cosan<span>&#160;will receive the return on the variation in the price of CSAN3 shares adjusted by the dividends for the period and will pay annual interest referenced to CDI + Spread. The contracted value of CSAN3 shares with total return swap was <ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="csan:DerivativeFinancialInstrumentsSharesUnderDerivativeContract" unitRef="Shares" id="Tag2788" decimals="0" format="ixt:num-dot-decimal">61,983,012</ix:nonFraction> shares and the total initial value is R$<ix:nonFraction contextRef="I20211231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag2770" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,074,113</ix:nonFraction>. Part of these operations are guaranteed by RAIL3 shares of its subsidiary&#160;</span>Rumo<span>&#160;S.A.. On December 31, the mark-to-market income, recorded in the Company's financial income line, was R$<ix:nonFraction contextRef="D20211231_InterestRateAndExchangeRateRiskMember_SwapContractForSharesMember" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag2794" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,704</ix:nonFraction>.</span></span></ix:footnote></td>
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<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote54"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI.</span></span></ix:footnote></td>
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<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote55"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI.</span></span></ix:footnote></td>
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</ix:nonNumeric>
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Derivatives are only used for economic hedging purposes and not as speculative investments.&#160;</span></p>
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</ix:continuation>
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
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<ix:continuation id="ce0f2143a-ebf5-4d52-828a-a747f0f670bc" continuedAt="c3d8f847b-3135-497a-8382-8fe9ea3f7e9f">
<div id="Normadiv26" style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Fair value hedge</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Currently the Company has adopted the hedge accounting of fair value for some its operations. Both the hedging instruments and the hedged items are measured and recognized at fair value through profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There is an economic relationship between the hedged item and the hedge instrument, since the terms of the interest rate and foreign exchange swap correspond to the terms of the fixed rate loan, that is, notional amount, term and payment. <ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DescriptionOfHowEntityEstablishesHedgeRatioAndWhatSourcesOfHedgeIneffectivenessAre" id="Tag6958" escape="true">The Company established a 1:1 hedge ratio for hedge relationships, since the underlying risk of the interest rate and exchange rate swap is identical to the hedged risk component</ix:nonNumeric>. To test the effectiveness of the hedge, the Company uses the discounted cash flow method and compares the changes in the fair value of the hedge instrument with the changes in the fair value of the hedged item attributable to the hedged risk. <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The sources of hedge ineffectiveness that are expected to affect the hedging relationship during its term evaluated by the Company are mainly: (i) reduction or modification of the hedged item; and (ii) a change in the credit risk of the Company or the counterparty of the contracted swaps. The amounts related to the items designated as hedge instruments were as following:</span></span></p>
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<ix:exclude>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-55</span></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="margin: 0 auto;">
<div id="Normadiv2798" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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</ix:exclude>
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<div style="margin: 0 auto;">
<div id="Normadiv2706" style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_G6DNLQ253400000000000000000000b">
<table border="0" cellpadding="0" width="100%" style="height: 265px; margin: 0px 0px 0px 0.1px; border-collapse: collapse; width: 100%; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 10px;">
<td valign="bottom" style="height: 10px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;"></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 22.0115%; border-bottom: 1px solid #000000;" colspan="4">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: center; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt; text-align: center;"><span style="color: black; margin: 0pt; text-align: center;">Book value</span></b></span></p>
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<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 21.9291%; text-align: center; border-bottom: 1px solid #000000;" colspan="4"><b style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt;"><span style="color: black; margin: 0pt; text-align: center;">Accumulated fair value adjustment</span></b></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 1.07172%;"><br/></td>
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<tr style="height: 10px;">
<td valign="bottom" style="height: 10px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2021</span></b></span></p>
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<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2020</span></b></span></p>
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<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;"><br/></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2021</span></b></span></p>
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<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2020</span></b></span></p>
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<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td valign="bottom" style="height: 10px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;"><br/></td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: center; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">Notional</span></b></span></p>
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</td>
<td valign="bottom" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 9.97527%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 10.0577%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 1.14025%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 9.97527%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 9.97527%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 1.07172%;"><br/></td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: #000000; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">Exchange rate hedge</span></span></b></span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;"></td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 10.05pt; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: black; margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">Designated items</span> </span></b></span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;"></td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2024 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_RumoSAMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4827" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6906" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6691" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,514,289</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6944" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6645" decimals="-3" scale="3" format="ixt:num-dot-decimal">959,017</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2025 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2025Member_RumoSAMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6932" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,740,550</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2025Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4900" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2025Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6912" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,067,359</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2025Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4879" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">355,409</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2025Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6904" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,581</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2028 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2028Member_RumoSAMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4850" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,791,600</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2028Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6694" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,700,621</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2028Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4836" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2028Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4891" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">108,756</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2028Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4876" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2032 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2032Member_RumoSAMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6889" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,758,400</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2032Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4870" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,938,939</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2032Member_RumoSAMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6634" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2032Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4825" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,775</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2032Member_RumoSAMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6637" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2024 (Cosan Limited) </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_CosanLimitedMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4846" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_CosanLimitedMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4897" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_CosanLimitedMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6677" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,232,844</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_CosanLimitedMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6918" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorNotesDue2024Member_CosanLimitedMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6709" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,357</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: #000000; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">Debt</span></span></b></span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4903" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,290,550</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4858" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,639,560</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4888" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,814,492</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6702" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">449,390</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4917" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,756,955</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;"></td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;"></td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: #000000; margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: #000000;">Derivative financial instruments</span></span></b></span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2024 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_RumoSAMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6956" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4860" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6626" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,118,028</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6703" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6940" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,021,045</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2025 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2025Member_RumoSAMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4875" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2025Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4822" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2025Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6949" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,341,379</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2025Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6684" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">120,326</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2025Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4837" decimals="-3" scale="3" format="ixt:num-dot-decimal">825,015</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2028 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2028Member_RumoSAMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4901" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,791,600</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2028Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4845" decimals="-3" scale="3" format="ixt:num-dot-decimal">266,526</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2028Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6885" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2028Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6866" decimals="-3" scale="3" format="ixt:num-dot-decimal">277,542</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2028Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4855" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2032 (Rumo Luxembourg) </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2032Member_RumoSAMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4866" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,259,375</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2032Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4890" decimals="-3" scale="3" format="ixt:num-dot-decimal">675,572</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2032Member_RumoSAMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4872" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2032Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6959" decimals="-3" scale="3" format="ixt:num-dot-decimal">675,572</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2032Member_RumoSAMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4859" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; vertical-align: bottom; width: 40.8904%;">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2024 (Cosan Limited) </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_CosanLimitedMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6612" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_CosanLimitedMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6696" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_CosanLimitedMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4873" decimals="-3" scale="3" format="ixt:num-dot-decimal">463,502</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_CosanLimitedMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6737" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" align="right">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember_SeniorSwapsNotesDue2024Member_CosanLimitedMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6617" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">78,913</ix:nonFraction> </span></p>
</td>
<td valign="bottom" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%;" align="left">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 14px; background-color: #cceeff;">
<td valign="bottom" style="height: 14px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; color: black; font-weight: bold;"><span style="font-family: 'times new roman', times; font-size: 10pt; margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: #000000;"><b><span>Derivative</span></b></span><b></b></span></p>
</td>
<td valign="bottom" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6931" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,050,975</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 14px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 14px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4871" decimals="-3" scale="3" format="ixt:num-dot-decimal">942,098</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 14px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6616" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,922,909</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 14px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag1277" decimals="-3" scale="3" format="ixt:num-dot-decimal">832,788</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" align="right">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6682" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,767,147</ix:nonFraction></span></b><b style="margin: 0pt;"></b></span></p>
</td>
<td valign="bottom" style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
</tr>
<tr style="height: 13px;">
<td valign="bottom" style="height: 13px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;"></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;"></td>
<td valign="bottom" style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;"></td>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td valign="bottom" style="height: 0px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;">
<p style="text-align: left; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Total</span></b></span></p>
</td>
<td valign="bottom" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" align="right">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag6920" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,239,575</ix:nonFraction></span></b></span></p>
</div>
</td>
<td valign="bottom" style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" align="right">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6663" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,697,462</ix:nonFraction></span></b></span></p>
</div>
</td>
<td valign="bottom" style="height: 0px; white-space: nowrap; padding: 0px 0px 3px; margin: 0px; vertical-align: bottom; text-indent: 0px; width: 0.989283%; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" align="right">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6908" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,891,583</ix:nonFraction></span></b></span></p>
</div>
</td>
<td valign="bottom" style="height: 0px; white-space: nowrap; padding: 0px 0px 3px; margin: 0px; vertical-align: bottom; text-indent: 0px; width: 1.14025%; background-color: #cceeff;" align="left">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" align="right">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6907" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,282,178</ix:nonFraction></span></b></span></p>
</div>
</td>
<td valign="bottom" style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td valign="bottom" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" align="right">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_CurrencySwapContractMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag4913" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,192</ix:nonFraction></span></b></span></p>
</div>
</td>
<td valign="bottom" style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p><br/></p>
</div>
</div>
</div>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory" id="Tag6822" escape="true">
<div><br/></div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_TLNHOQ1EZK00000000000000000000b">
<table cellpadding="0" style="height: 354px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 99.8338%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Book value </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; text-align: center;" colspan="4"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Accumulated fair value adjustment</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center;"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2021</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center;" class="ng-scope"><span style="color: #000000; font-family: 'times new roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 20</span>20</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times;"> <b><span style="font-size: 10pt; color: black;">Interest rate hedge</span></b> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 41%;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup>&#160;issue - 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4863" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6790" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6955" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; width: 10%;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6713" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6905" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">575</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; width: 1%;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 5<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - single series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4831" decimals="-3" scale="3" format="ixt:num-dot-decimal">684,501</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6706" decimals="-3" scale="3" format="ixt:num-dot-decimal">873,474</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4904" decimals="-3" scale="3" format="ixt:num-dot-decimal">890,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; background-color: #cceeff;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6921" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">17,184</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6951" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,040</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 1st series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6950" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6953" decimals="-3" scale="3" format="ixt:num-dot-decimal">484,974</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6935" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6664" decimals="-3" scale="3" format="ixt:num-dot-decimal">484,974</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6704" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 2nd series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6685" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6701" decimals="-3" scale="3" format="ixt:num-dot-decimal">477,578</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4896" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; background-color: #cceeff;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6735" decimals="-3" scale="3" format="ixt:num-dot-decimal">477,578</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4828" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">BNDES Project VIII <sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4910" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,000,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6712" decimals="-3" scale="3" format="ixt:num-dot-decimal">921,949</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6939" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6648" decimals="-3" scale="3" format="ixt:num-dot-decimal">921,949</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6611" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debenture (Rumo) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6627" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,530,408</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6919" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,359,574</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6936" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,281,278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6618" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">149,491</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6721" decimals="-3" scale="3" format="ixt:num-dot-decimal">239,437</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</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: 20pt;"><span> Senior notes 2023 (Cosan Luxembourg) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_SeniorNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6690" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_SeniorNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4926" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_SeniorNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4862" decimals="-3" scale="3" format="ixt:num-dot-decimal">569,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom: 1pt solid #000000;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_SeniorNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4848" decimals="-3" scale="3" format="ixt:num-dot-decimal">188,083</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_SeniorNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6668" decimals="-3" scale="3" format="ixt:num-dot-decimal">237,050</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Debt </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4916" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,214,909</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4886" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,117,549</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6954" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,741,402</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6699" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,905,909</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4830" decimals="-3" scale="3" format="ixt:num-dot-decimal">497,952</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> issue - 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4835" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6640" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6671" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4864" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right; background-color: #cceeff;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesThirdIssueThirdSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6927" decimals="-3" scale="3" format="ixt:num-dot-decimal">862</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></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: 20pt;"><span>Debenture 5<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - single series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4843" decimals="-3" scale="3" format="ixt:num-dot-decimal">684,501</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4881" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">189,928</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6683" decimals="-3" scale="3" format="ixt:num-dot-decimal">211,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6659" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">401,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesFifthIssueSingleSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4914" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,731</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 1st series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6642" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6693" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,776</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4929" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6657" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,776</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right; background-color: #cceeff;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueFirstSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6942" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></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: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 2nd series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4930" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4820" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,939</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4861" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6670" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,939</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesNinthIssueSecondSeriesMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6669" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">BNDES Project VIII <sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4889" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,000,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6660" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6909" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4918" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; background-color: #cceeff;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_ComgasMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4832" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debenture (Rumo) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6679" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,556,236</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6625" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">75,806</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6644" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,693</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6913" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">196,959</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_DebenturesMember_RumoSAMember_FairValueHedgesMember_InterestRateSwapContractMember_1" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6924" decimals="-3" scale="3" format="ixt:num-dot-decimal">183,595</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span> Senior swaps notes 2023 (Cosan Luxembourg) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_SeniorSwapsNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6705" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_SeniorSwapsNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4884" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_SeniorSwapsNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6635" decimals="-3" scale="3" format="ixt:num-dot-decimal">392,899</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_SeniorSwapsNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6952" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,057</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span>(<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_SeniorSwapsNotesDue2023Member_CosanSAMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6662" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">42,532</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4921" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,240,737</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6917" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">195,799</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6643" decimals="-3" scale="3" format="ixt:num-dot-decimal">781,333</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span>(<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4865" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">518,636</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom: 1px solid #000000;"><span><ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4893" decimals="-3" scale="3" format="ixt:num-dot-decimal">152,656</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag6914" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,828</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6903" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,313,348</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag4844" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,960,069</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6672" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,424,545</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span>(<ix:nonFraction contextRef="I20201231_DesignatedAsHedgingInstrumentsMember_FairValueHedgesMember_InterestRateSwapContractMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6666" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">345,296</ix:nonFraction></span></td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_XPGIIJI93K00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="text-align: right; vertical-align: top; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="text-align: right; vertical-align: top; width: 1%;"><br/></td>
<td style="width: 92%; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote2"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span>In the subsidiary Comg&#225;s, the exposure of the BNDES Project VIII debt is substantially protected by the hedge contracted in July 2021, with a portion of less than <ix:nonFraction contextRef="D20210731_ComgasMember_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" name="csan:MaximumPercentageOfDebtInstrumentNotProtected" unitRef="Pure" id="Tag6622" decimals="2" scale="-2" format="ixt:num-dot-decimal">3</ix:nonFraction>%</span></span><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;not protected and for practical purposes its segregation at amortized cost becomes irrelevant.</span></span></span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<ix:exclude>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div id="t_ft_3UJEPQD1SG00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-56</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
</ix:exclude>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Fair value option</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Certain derivative instruments have not been linked to documented hedge structures.&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" id="Tag6119" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company chose to designate the protected liabilities (hedge objects) to record at fair value through profit or loss.</span></p>
<div id="t_ft_UG0P7B5XWG00000000000000000000b">
<table cellpadding="0" style="height: 390px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td colspan="2" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="8" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Book value </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Accumulated fair value adjustment </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td colspan="2" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 25%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Exchange rate </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 14%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Objects </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior Notes 2027 </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_SeniorNotesDue2027Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4877" escape="true">US$+<span style="border-left: none; border-right: none;">7.0</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_SeniorNotesDue2027Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4923" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,627,325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_SeniorNotesDue2027Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4839" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,305,928</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_SeniorNotesDue2027Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6928" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,379,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_SeniorNotesDue2027Member_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6738" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">313,052</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_SeniorNotesDue2027Member_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6621" decimals="-3" scale="3" format="ixt:num-dot-decimal">349,181</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export Credit Agreement </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_ExportCreditAgreementMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6697" escape="true">EUR + <span style="border-left: none; border-right: none;">0.58</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_ExportCreditAgreementMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6614" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,198</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_ExportCreditAgreementMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6899" decimals="-3" scale="3" format="ixt:num-dot-decimal">95,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_ExportCreditAgreementMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6619" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_ExportCreditAgreementMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4444" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,337</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_ExportCreditAgreementMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6652" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Rumo) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution4131Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6620" escape="true">US$ + <span style="border-left: none; border-right: none;">2.20</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution4131Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6900" decimals="-3" scale="3" format="ixt:num-dot-decimal">220,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution4131Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6708" decimals="-3" scale="3" format="ixt:num-dot-decimal">148,932</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution4131Member_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4894" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution4131Member_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6632" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,412</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution4131Member_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6719" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> EIB 3&#170; Tranche </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib3RdTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6765" escape="true">US$ + <span>LIBOR</span><span>6</span>M + <span>0.54</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib3RdTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6718" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib3RdTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6649" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib3RdTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4868" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib3RdTrancheMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6717" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib3RdTrancheMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6624" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> EIB 4&#170; Tranche </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib4ThTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6764" escape="true">US$ + <span>LIBOR</span><span>6</span>M + <span>0.61</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib4ThTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6922" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib4ThTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6930" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib4ThTrancheMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4833" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,813</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib4ThTrancheMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4856" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Eib4ThTrancheMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4908" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">308</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2018) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312018Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4925" escape="true">US$ + <span style="border-left: none; border-right: none;">3.67</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312018Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag4920" decimals="-3" scale="3" format="ixt:num-dot-decimal">268,125</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312018Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6698" decimals="-3" scale="3" format="ixt:num-dot-decimal">438,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312018Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4911" decimals="-3" scale="3" format="ixt:num-dot-decimal">415,232</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312018Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4857" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312018Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4840" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,247</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2020) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312020Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4853" escape="true">US$ + <span style="border-left: none; border-right: none;">1.59</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312020Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6711" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312020Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6710" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312020Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6687" decimals="-3" scale="3" format="ixt:num-dot-decimal">388,912</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312020Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4869" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312020Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6656" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2021) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312021Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6695" escape="true">US$ + <span style="border-left: none; border-right: none;">1.36</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312021Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6741" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312021Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4878" decimals="-3" scale="3" format="ixt:num-dot-decimal">414,378</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312021Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4834" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312021Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6665" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,526</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_Resolution41312021Member_ComgasMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6630" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6916" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,622,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6636" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,403,521</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6651" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,272,586</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6688" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">303,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4899" decimals="-3" scale="3" format="ixt:num-dot-decimal">370,997</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative instruments </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Swap Notes 2027 </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_SeniorSwapNotesDue2027Member_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6661" escape="true">R$ + <span style="border-left: none; border-right: none;">126.85</span>% do CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_SeniorSwapNotesDue2027Member_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4924" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,627,325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_SeniorSwapNotesDue2027Member_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6658" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,047,237</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_SeniorSwapNotesDue2027Member_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4851" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,272,648</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_SeniorSwapNotesDue2027Member_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6654" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,181</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_SeniorSwapNotesDue2027Member_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4821" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,320,629</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation and interest rate swaps </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6689" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">107</span>% do CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4882" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,198</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6742" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,535</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6639" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6901" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,096</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag1276" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation and interest rate swaps </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6707" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">118</span>% do CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6623" decimals="-3" scale="3" format="ixt:num-dot-decimal">220,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4829" decimals="-3" scale="3" format="ixt:num-dot-decimal">47,527</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6613" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6673" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,019</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_InflationAndInterestRateSwapsTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6740" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><span>EIB 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> Tranche</span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib3RdTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6714" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">88.5</span>% do CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib3RdTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6700" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib3RdTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6910" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib3RdTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4867" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib3RdTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4849" decimals="-3" scale="3" format="ixt:num-dot-decimal">844</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib3RdTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6380" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,927</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 22px;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><span>EIB 4<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> Tranche</span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib4ThTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6946" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">81.1</span>% do CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib4ThTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6925" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib4ThTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4915" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib4ThTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4906" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,256</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib4ThTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6911" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,583</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Eib4ThTrancheMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4838" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,219</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2018) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312018Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6923" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">107.9</span>% do CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312018Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4905" decimals="-3" scale="3" format="ixt:num-dot-decimal">268,125</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312018Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6681" decimals="-3" scale="3" format="ixt:num-dot-decimal">168,358</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312018Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6934" decimals="-3" scale="3" format="ixt:num-dot-decimal">154,627</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312018Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6646" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,794</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312018Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4874" decimals="-3" scale="3" format="ixt:num-dot-decimal">117,080</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2020) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312020Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6957" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + CDI + <span style="border-left: none; border-right: none;">2.75</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312020Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6692" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312020Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6938" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312020Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag4912" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,214</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312020Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6667" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,711</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312020Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6947" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,904</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2021) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312021Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6926" escape="true"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + CDI + <span style="border-left: none; border-right: none;">1.25</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312021Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4922" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312021Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6655" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312021Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6610" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312021Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4928" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,628</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember_Resolution41312021Member_ComgasMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4907" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative total </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4887" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,622,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6631" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,293,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6674" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,481,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4909" decimals="-3" scale="3" format="ixt:num-dot-decimal">95,408</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6686" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,475,951</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag4919" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag77" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,110,378</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag4847" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,791,093</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; height: 10px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag4883" decimals="-3" scale="3" format="ixt:num-dot-decimal">398,831</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_CurrencySwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6941" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,104,954</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<ix:exclude>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_9XC8AGP4G000000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-57</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
</ix:exclude>
<div id="t_ft_J8V0GNRJV400000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 205px;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="8" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Book value </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="8" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Accumulated fair value adjustment </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 25%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest rate </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 14%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 17px; width: 1%;"></td>
<td style="vertical-align: top; background-color: #cceeff; height: 17px; width: 1%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Objects </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160; Debenture (Rumo) </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureOneMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4841" escape="true">IPCA + <span>4,68</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureOneMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6734" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureOneMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4854" decimals="-3" scale="3" format="ixt:num-dot-decimal">543,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureOneMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6647" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureOneMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4892" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">82,474</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureOneMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6915" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160; Debenture (Rumo) </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureTwoMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6945" escape="true">IPCA + <span style="border-left: none; border-right: none;">4,50</span>%</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureTwoMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6902" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureTwoMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4852" decimals="-3" scale="3" format="ixt:num-dot-decimal">676,798</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureTwoMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4826" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureTwoMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6641" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">131,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DebentureTwoMember_RumoSAMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4927" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; padding: 0px; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag6638" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,100,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag4902" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,220,550</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:Borrowings" unitRef="BRL" id="Tag6678" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag6720" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">213,627</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:AccumulatedFairValueHedgeAdjustmentOfBorrowings" unitRef="BRL" id="Tag4823" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative instruments </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; padding: 0px; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange and interest swap </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag4885" escape="true"><span style="border-left: none; border-right: none;">107</span>% CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4824" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6650" decimals="-3" scale="3" format="ixt:num-dot-decimal">71,375</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6739" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#160; (<ix:nonFraction contextRef="I20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4898" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,682</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapOneMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4895" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Foreign exchange</span> and interest swap </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag6633" escape="true"><span style="border-left: none; border-right: none;">105</span>% CDI</ix:nonNumeric> </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag4880" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6736" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,344</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6943" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag4842" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">41,468</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember_ForexAndInterestSwapTwoMember_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6676" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; padding: 0px; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative total </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:CreditDerivativeNominalAmount" unitRef="BRL" id="Tag6615" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,100,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6845" decimals="-3" scale="3" format="ixt:num-dot-decimal">153,719</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" unitRef="BRL" id="Tag6716" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6653" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">53,150</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" unitRef="BRL" id="Tag6680" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag6933" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6929" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,066,831</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6675" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6937" decimals="-3" scale="3" format="ixt:num-dot-decimal">160,477</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_InterestRateSwapContractMember_DesignatedAsHedgingInstrumentsMember" name="csan:NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" unitRef="BRL" id="Tag6948" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
</ix:continuation>
</div>
</div><div id="Normadiv28" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfFinancialInstrumentsExplanatory" id="Tag281" escape="true" continuedAt="c2071b2e8-b27f-43cb-8bc4-354094fc91db">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"><span style="font-weight: bold;">6.11.</span>&#160;</span><span style="font-weight: bold;">Recognized fair value measurements</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">When the fair value of financial assets and liabilities cannot be derived from active markets, their fair value is determined using valuation techniques including the discounted cash flow model. The inputs to these models are taken from observable markets where possible, but when this is not feasible, a degree of judgment is required in determining fair values. Judgment is required in the determination of inputs such as liquidity risk, credit risk and volatility. Changes in these variables could affect the reported fair value of financial instruments.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">Specific valuation techniques used to value financial instruments include:<br/>i.&#160; &#160; &#160;the use of quoted market prices;<br/>ii.&#160; &#160; for swaps we use the present value of estimated future cash flows based on observable market curves; and <br/>iii.&#160; &#160;for other financial instruments we analyze discounted cash flow.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;" class="ng-scope">All resulting fair value estimates are included in level 2, when fair values have been determined based on present values and the discount rates used have been adjusted for counterparty or own credit risk.<br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span>The Company has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values, and reports directly to the Board.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the treasury assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Company&#8217;s policy, including the level in the fair value hierarchy in which the valuations should be classified.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Significant valuation issues are reported to the Board. When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
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<tbody>
<tr style="height: 14px;">
<td style="width: 4.43005%; text-align: center; vertical-align: top; height: 14px;"><br/></td>
<td style="width: 2.53703%; text-align: center; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="width: 2.56378%; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="width: 90.4691%; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: justify;" valign="top" class="ng-scope"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level<span>&#160;</span></span>1<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">: inputs represent unadjusted quoted prices for identical instruments traded in active markets.</span></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 10px;"><br/></td>
<td style="text-align: center; vertical-align: top; width: 2.53703%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="vertical-align: top; width: 2.56378%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="vertical-align: top; width: 90.4691%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: justify;" valign="top" class="ng-scope"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level<span>&#160;</span></span>2<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">: inputs include directly or indirectly observable inputs (other than Level<span>&#160;</span></span><span>1&#160;</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">input) such as quoted prices for similar financial instruments exchanged in active markets, quoted prices for identical or similar financial instruments exchanged in inactive markets and other market observable inputs. The fair value of the majority of the Company&#8217;s investments in securities, derivative contracts and bonds.</span></td>
</tr>
<tr style="height: 34px;">
<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 34px;"><br/></td>
<td style="text-align: center; vertical-align: top; width: 2.53703%; height: 34px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="vertical-align: top; width: 2.56378%; height: 34px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="vertical-align: top; width: 90.4691%; height: 34px; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: justify;" valign="top" class="ng-scope"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level<span>&#160;</span></span>3<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">: inputs for the asset or liability that are not based on observable market data (unobservable inputs). Management is required to use its own assumptions regarding unobservable inputs as there is little, if any, market activity in these instruments or related observable inputs that can be corroborated at the measurement date.</span></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Specific valuation techniques used to value financial instruments include:</span></p>
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<br/></div>
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<div>
<div id="t_ft_ILXG1L811C00000000000000000000b">
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<td class="pgno" style="padding: 0px; text-align: center;">F-58</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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/></p>
</div>
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<tbody>
<tr style="height: 17px;">
<td style="width: 4.43005%; text-align: center; vertical-align: top; height: 17px;"><br/></td>
<td style="width: 2.53703%; text-align: center; vertical-align: top; height: 17px;"><br/></td>
<td style="width: 2.56378%; vertical-align: top; height: 17px;"><br/></td>
<td style="width: 90.4691%; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 14px;">
<td style="width: 4.43005%; text-align: center; vertical-align: top; height: 14px;"><br/></td>
<td style="width: 2.53703%; vertical-align: top; height: 14px; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">i.</span></td>
<td style="width: 2.56378%; vertical-align: top; height: 14px;" valign="top"><br/></td>
<td style="width: 90.4691%; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> the use of quoted market prices </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 17px;"><br/></td>
<td style="vertical-align: top; width: 2.53703%; height: 17px; text-align: right;"><br/></td>
<td style="vertical-align: top; width: 2.56378%; height: 17px;"><br/></td>
<td style="vertical-align: top; width: 90.4691%; height: 17px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 10px;"><br/></td>
<td style="vertical-align: top; width: 2.53703%; height: 10px; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ii.</span></td>
<td style="vertical-align: top; width: 2.56378%; height: 10px;" valign="top"><br/></td>
<td style="vertical-align: top; width: 90.4691%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="text-align: justify; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> the fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed from similar sources and which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Company and of the&#160;counterparty; this is calculated based on credit spreads derived from current credit default swap; and </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 10px;"><br/></td>
<td style="vertical-align: top; width: 2.53703%; height: 10px; text-align: right;"><br/></td>
<td style="vertical-align: top; width: 2.56378%; height: 10px;"><br/></td>
<td style="vertical-align: top; width: 90.4691%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 10px;"><br/></td>
<td style="vertical-align: top; width: 2.53703%; height: 10px; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iii.</span></td>
<td style="vertical-align: top; width: 2.56378%; height: 10px;" valign="top"><br/></td>
<td style="vertical-align: top; width: 90.4691%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> for other financial instruments we analyze discounted cash flow. </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDebtSecuritiesExplanatory" id="Tag6091" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The market values of the Senior Notes are listed on the Luxembourg Stock Exchange (Note 6<span style="border-left: none; border-right: none;">.6</span>) is based on their quoted market price are as follows:</span></p>
<div id="t_ft_JCMIWK94EO00000000000000000000b">
<table cellpadding="0" style="height: 158px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Company </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 38%;">
<p style="margin: 0pt;"><span> Senior notes 2023 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 39%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Luxembourg S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SeniorNotesDueTwoThousandTwentyThreeMember_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag7112" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.26</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDueTwoThousandTwentyThreeMember_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4947" decimals="4" scale="-2" format="ixt:num-dot-decimal">101.02</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></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;"><span> Senior notes 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_SeniorNotesDueTwoThousandAndTwentyFourMember_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4970" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDueTwoThousandAndTwentyFourMember_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag7110" decimals="4" scale="-2" format="ixt:num-dot-decimal">104.17</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior notes 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Limited </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_SeniorNotesDueTwoThousandAndTwentyFourOneMember_CosanLimitedMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4984" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDueTwoThousandAndTwentyFourOneMember_CosanLimitedMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4770" decimals="4" scale="-2" format="ixt:num-dot-decimal">103.22</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> Senior notes 2025 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SeniorNotesDueTwoThousandAndTwentyFiveMember_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag7108" decimals="4" scale="-2" format="ixt:num-dot-decimal">103.04</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDueTwoThousandAndTwentyFiveMember_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag7107" decimals="4" scale="-2" format="ixt:num-dot-decimal">105.96</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior notes 2027 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Luxembourg S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SeniorNotesDueTwoZeroTwoSevenMember_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4948" decimals="4" scale="-2" format="ixt:num-dot-decimal">103.79</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDueTwoZeroTwoSevenMember_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4761" decimals="4" scale="-2" format="ixt:num-dot-decimal">108.20</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> Senior notes 2028 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SeniorNotesDue2028Member_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4968" decimals="4" scale="-2" format="ixt:num-dot-decimal">103.42</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDue2028Member_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4978" decimals="4" scale="-2" format="ixt:num-dot-decimal">108.75</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior notes 2029 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan&#160;S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SeniorNotesDue2029Member_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag7111" decimals="4" scale="-2" format="ixt:num-dot-decimal">104.39</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SeniorNotesDue2029Member_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag6898" decimals="4" scale="-2" format="ixt:num-dot-decimal">110.05</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> Senior notes 2032 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SeniorNotesDue2032Member_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4988" decimals="4" scale="-2" format="ixt:num-dot-decimal">94.34</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"> <span><ix:nonFraction contextRef="I20201231_SeniorNotesDue2032Member_RumoSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag6161" xsi:nil="true"></ix:nonFraction>&#8212;</span></span>&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Perpetual notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Luxembourg S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_PerpetualNotesMember_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag7022" decimals="4" scale="-2" format="ixt:num-dot-decimal">102.17</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_PerpetualNotesMember_CosanSAMember" name="csan:DebtInstrumentQuotedMarketPricePercentage" unitRef="Pure" id="Tag4958" decimals="4" scale="-2" format="ixt:num-dot-decimal">102.88</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span>All of the resulting fair value estimates are included in level 2 except for a contingent consideration payable where the fair values have been determined based on present values and the discount rates used were adjusted for counterparty or own credit risk.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory" id="Tag6120" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The carrying amounts and fair value of financial assets and financial liabilities are as follows:&#160;</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_0SRAWPW90G00000000000000000000b">
<table cellpadding="0" style="height: 202px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.649%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 5.1532%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 19.7772%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Carrying amount </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 54.8747%;" colspan="14">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets and liabilities measured at fair value</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.649%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 5.1532%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;" rowspan="2"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 30.0836%;" colspan="7">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 20.6128%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.649%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 5.1532%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; margin: 0pt; text-align: center; width: 8.49582%;"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160;<span style="font-family: 'times new roman', times; font-weight: bold; border-bottom-color: #000000; border-bottom-width: 0.5pt; font-size: 8pt;">Level 1</span></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; border-bottom: 1px solid #000000; margin-left: 0.1px; vertical-align: bottom; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 2&#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 7.52089%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 3&#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.33148%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment funds </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_InvestmentFundMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4979" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,103,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_InvestmentFundMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4983" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,155,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom" class="ng-scope">
<p style="margin: 0pt; text-align: right;"><br/></p>
<ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_InvestmentFundMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4991" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_InvestmentFundMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4998" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,103,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_InvestmentFundMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4989" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_InvestmentFundMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4949" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_InvestmentFundMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4977" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,155,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4938" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,388,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4996" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom" class="ng-scope"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4990" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4760" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,388,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_MarketableSecuritiesMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag7021" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4934" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_MarketableSecuritiesMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4767" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_OtherFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4986" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_OtherFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4971" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom" class="ng-scope"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_OtherFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4980" xsi:nil="true"></ix:nonFraction>&#8212;<br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_OtherFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4766" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_OtherFinancialAssetsMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4756" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_OtherFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag7109" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_OtherFinancialAssetsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4954" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_InvestmentPropertyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4965" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_InvestmentPropertyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4952" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom" class="ng-scope"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_InvestmentPropertyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4993" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_InvestmentPropertyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4936" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_InvestmentPropertyMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag75" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_InvestmentPropertyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4972" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_InvestmentPropertyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag7009" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivate financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4963" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,732,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4973" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,140,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 18px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom" class="ng-scope"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6897" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4764" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,732,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_DerivativeFinancialInstrumentsMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag74" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4946" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4967" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,140,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4943" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,431,535</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4995" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,034,381</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom" class="ng-scope"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4768" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4763" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,544,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AtFairValueMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag6159" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4981" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember" name="ifrs-full:FinancialAssets" unitRef="BRL" id="Tag4982" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,965,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.6 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4964" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,659,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span>(<ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4987" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,249,460</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt;">)</span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" class="ng-scope"><span style="font-size: 10pt;">(</span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6169" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,157,655</ix:nonFraction></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span>(<ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4762" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,214,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.52089%;" valign="bottom"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_LoansBorrowingsAndDebenturesMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4976" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.33148%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span>(<ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4966" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,971,099</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4992" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,855,850</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Consideration payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4758" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4961" decimals="-3" scale="3" format="ixt:num-dot-decimal">224,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;<ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4953" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4941" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 7.52089%;" valign="bottom"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_ContingentConsiderationMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4771" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4974" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (<ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_ContingentConsiderationMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4994" decimals="-3" scale="3" format="ixt:num-dot-decimal">224,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4950" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,076,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4945" decimals="-3" scale="3" format="ixt:num-dot-decimal">446,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;<ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6051" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4975" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,076,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_DerivativeFinancialInstrumentsMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4757" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4944" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4957" decimals="-3" scale="3" format="ixt:num-dot-decimal">446,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4956" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,735,198</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4955" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,920,308</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom">(<span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level1OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag6003" decimals="0" scale="3" format="ixt:num-dot-decimal">30,157.655</ix:nonFraction></span></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom">)</td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_AtFairValueMember_Level2OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4759" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,290,761</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; text-align: right; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 7.52089%;" valign="bottom"><span><ix:nonFraction contextRef="I20211231_AtFairValueMember_Level3OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag7018" xsi:nil="true"></ix:nonFraction>&#8212;</span><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span>(<ix:nonFraction contextRef="I20201231_AtFairValueMember_Level1OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4960" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,971,099</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom">)</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_AtFairValueMember_Level2OfFairValueHierarchyMember" name="ifrs-full:FinancialLiabilities" unitRef="BRL" id="Tag4959" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,526,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<ix:exclude>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_POW08SSKA800000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-59</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i><br/></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
</div>
</ix:exclude>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.12</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Financial risk management</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This note explains the Company&#8217;s exposure to financial risks and how these risks could affect the group&#8217;s future financial performance. Current year profit and loss information has been included where relevant to add further context.&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory" id="Tag6089" escape="true">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 371px; width: 100%;" width="100%">
<tbody>
<tr style="height: 30px;">
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 99.7pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Risk </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 136.8pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Exposure arising from </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 105.5pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Measurement </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 104.55pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Management </span></p>
</td>
</tr>
<tr style="height: 65px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk &#8211; foreign exchange </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-right: none; border-left: none;"><ix:nonNumeric contextRef="D20211231_CurrencyRiskMember_CashFlowForecastingMember" name="ifrs-full:DescriptionOfReasonForChangeInMethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4940" escape="true">(i) Future commercial transactions.</ix:nonNumeric></span></span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;(ii) Recognized financial assets and liabilities not denominated in Brazilian </span>reais<span style="font-family: 'times new roman', times; font-size: 10pt;">.</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CurrencyRiskMember_CashFlowForecastingMember" name="ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4942" escape="true">(i) Cash flow forecasting</ix:nonNumeric> (ii) Sensitivity analysis </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CurrencyRiskMember_CashFlowForecastingMember" name="ifrs-full:MethodsUsedInPreparingSensitivityAnalysisReflectingInterdependenciesBetweenRiskVariables" id="Tag4997" escape="true">Foreign currency.</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 65px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk &#8211; interest rate </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt 1.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_InterestRateRiskMember_SensitivityAnalysisMember" name="ifrs-full:DescriptionOfReasonForChangeInMethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag7017" escape="true">Cash and cash equivalents, marketable securities, loans, borrowings and debentures, leases and derivatives.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_InterestRateRiskMember_SensitivityAnalysisMember" name="ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4939" escape="true">(i) Sensitivity analysis</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_InterestRateRiskMember_SensitivityAnalysisMember" name="ifrs-full:MethodsUsedInPreparingSensitivityAnalysisReflectingInterdependenciesBetweenRiskVariables" id="Tag4765" escape="true">Interest rate Swap.</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 47px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk - prices </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt 1.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_OtherPriceRiskMember_CashFlowForecastingMember" name="ifrs-full:DescriptionOfReasonForChangeInMethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4962" escape="true">(i) Future commercial transactions.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_OtherPriceRiskMember_CashFlowForecastingMember" name="ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4935" escape="true">(i) Cash flow forecasting</ix:nonNumeric> (ii) Sensitivity analysis </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_OtherPriceRiskMember_CashFlowForecastingMember" name="ifrs-full:MethodsUsedInPreparingSensitivityAnalysisReflectingInterdependenciesBetweenRiskVariables" id="Tag4969" escape="true">Future electric energy price (purchase and sale).</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 82px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credit risk </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CreditRiskMember" name="ifrs-full:DescriptionOfReasonForChangeInMethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4933" escape="true">Cash and cash equivalents, marketable securities, restricted cash, trade receivables, derivatives, receivables from related parties and dividends, and investment property</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CreditRiskMember" name="ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4932" escape="true">(i) Aging analysis</ix:nonNumeric></span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;(ii) Credit ratings</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CreditRiskMember" name="ifrs-full:MethodsUsedInPreparingSensitivityAnalysisReflectingInterdependenciesBetweenRiskVariables" id="Tag4931" escape="true">Diversification of bank deposits, credit limits and letters of credit.</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 82px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Liquidity risk </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt 1.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_LiquidityRiskMember_CreditRatingMember" name="ifrs-full:DescriptionOfReasonForChangeInMethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4951" escape="true">Loans, borrowings and debentures, trade payables, other financial liabilities, tax installments, leases, derivatives, payables to related parties and dividends.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_LiquidityRiskMember_CreditRatingMember" name="ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag4985" escape="true">(i) Rolling cash flow forecasts</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_LiquidityRiskMember_CreditRatingMember" name="ifrs-full:MethodsUsedInPreparingSensitivityAnalysisReflectingInterdependenciesBetweenRiskVariables" id="Tag4769" escape="true">Availability of committed credit lines and borrowing facilities.</ix:nonNumeric></span></p>
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</ix:nonNumeric>
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<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-60</span></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: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i><br/></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-size: 10pt;">The Company&#8217;s Management identifies, evaluates and hedges financial risks in close co-operation with the Company&#8217;s operating units. The Board provides written principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.</span><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><br/></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Where all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognizing interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases.</span></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company may opt for the formal designation of new debt operations for which it has swap-type derivative financial instruments for exchange variation and interest, as measured at fair value. The option for fair value (&#8220;Fair Value Option&#8221;) is intended to eliminate or inconsistencies in the result arising from differences between the measurement credits of certain liabilities and their hedging instruments. Thus, both the swaps and the respective debts are now measured at fair value. Such option is irrevocable and must only be made in the initial accounting record of the operation.The Company&#8217;s policy is to maintain capital base to promote the confidence of investors, creditors and the market, and to ensure the future development of the business. Management monitors that the return on capital is adequate for each of its businesses.</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The usage of financial instruments in order to protect against these areas of volatility is determined through an analysis of the risk exposure that management intends to cover.</span></p>
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</div><div id="Normadiv30" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:continuation id="c3d8f847b-3135-497a-8382-8fe9ea3f7e9f" continuedAt="c33ccff5e-de92-41e7-a0ad-0f5f0282a0de">
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<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Market risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company uses derivatives to manage market risks. All such transactions are carried out within the guidelines set by the risk management committee. Generally, the Company seeks to apply hedge accounting to manage volatility in profit or loss.</span></p>
<ol style="padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 111.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Foreign exchange risk</span></li>
</ol>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" id="Tag6127" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net exposure to the exchange rate variations on assets and liabilities denominated in U.S. dollar, British pound and Euro:</span></p>
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<p style="margin: 0pt 0pt 10pt 72pt; text-align: justify;"><br/></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-61</span></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="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="text-align: justify;"><br/></p>
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</ix:exclude>
<div style="margin: 0 auto;">
<div id="t_ft_P4K05WGZ7K00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 90px;" width="100%">
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.6369%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 72.3214%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9048%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_CashAndCashEquivalentMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5177" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,811,598</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.04167%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9048%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_CashAndCashEquivalentMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5154" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,995,284</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.6369%; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_TradeReceivablesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5116" decimals="-3" scale="3" format="ixt:num-dot-decimal">93,326</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_TradeReceivablesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5164" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,619</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.6369%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_TradePayablesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5248" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,721</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_TradePayablesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5067" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">229,750</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5227" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,640,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_LoansBorrowingsAndDebenturesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5042" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,227,055</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_LeasesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5056" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">108,365</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_LeasesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5247" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">99,217</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contingent consideration </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_ContingentConsiderationMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5255" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">234,960</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_ContingentConsiderationMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5194" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">224,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5076" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,105,358</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember_DerivativeFinancialInstrumentsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5223" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,981,375</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.6369%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Foreign exchange exposure, net </span></p>
</td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: bottom; width: 11.9048%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ForeignExchangeRiskMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5010" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,021,936</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.4881%; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.04167%; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: bottom; width: 11.9048%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(<ix:nonFraction contextRef="I20201231_ForeignExchangeRiskMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5142" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,779,531</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.6369%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The sensitivity of profit or loss to changes in the exchange rates arises mainly from U.S. dollar denominated financial instruments and the impact on other components of equity arises from foreign forward exchange contracts designated as cash flow hedges.</span></p>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A reasonably possible strengthening (weakening) of the Brazilian <span style="font-style: italic;">reais</span> to U.S. dollar and Euro on December 31, 2021 would have affected the measurement of financial instruments denominated in a foreign currency and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. <ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" id="Tag5101" escape="true">Stressed scenarios (positive and negative effects before tax effects) were defined based on changes of a <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfChangeInInterestRateOneMember" name="ifrs-full:PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag7175" decimals="2" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfChangeInInterestRateOneMember" name="ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5084" decimals="2" scale="-2" format="ixt:num-dot-decimal">25</ix:nonFraction></ix:nonFraction>% and <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfChangeInInterestRateTwoMember" name="ifrs-full:PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag7174" decimals="2" scale="-2" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfChangeInInterestRateTwoMember" name="ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5264" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction></ix:nonFraction>% to the U.S. dollar and Euro exchange rate used in the probable scenario.</ix:nonNumeric> The Company&#8217;s exposure to foreign currency changes for all other currencies is not material.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfForeignCurrencySensitivityAnalysisImpactOnProfitLossTableTextBlock" id="Tag6129" escape="true">
<table cellpadding="0" style="height: 158px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;" colspan="10">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Variation scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Instrument </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Risk factor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; width: 17%; background-color: #cceeff; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CashAndCashEquivalentMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5158" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_CashAndCashEquivalentMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5081" decimals="-3" scale="3" format="ixt:num-dot-decimal">81,621</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_CashAndCashEquivalentMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5040" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,054,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_CashAndCashEquivalentMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5088" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,028,231</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_CashAndCashEquivalentMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5106" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">891,684</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_CashAndCashEquivalentMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5224" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,864,989</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_TradeReceivablesMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5098" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_TradeReceivablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5215" decimals="-3" scale="3" format="ixt:num-dot-decimal">76,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_TradeReceivablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5165" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,347</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_TradeReceivablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5093" decimals="-3" scale="3" format="ixt:num-dot-decimal">124,191</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_TradeReceivablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5216" decimals="-3" scale="3" format="ixt:num-dot-decimal">52,658</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_TradeReceivablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5079" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,813</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></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: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_TradePayablesMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5133" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_TradePayablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5074" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,414</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_TradePayablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5219" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_TradePayablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5207" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">438</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_TradePayablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5114" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,902</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_TradePayablesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5200" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,389</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_DerivativeFinancialInstrumentsMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5130" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_DerivativeFinancialInstrumentsMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5210" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,457,838</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_DerivativeFinancialInstrumentsMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5199" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,676,786</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_DerivativeFinancialInstrumentsMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5035" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,946,953</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_DerivativeFinancialInstrumentsMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5136" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,863,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_DerivativeFinancialInstrumentsMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5244" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,133,715</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</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: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_LoansBorrowingsAndDebenturesMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5113" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_LoansBorrowingsAndDebenturesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5157" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">424,712</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5183" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,017,875</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5057" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,489,738</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5085" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,925,849</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5156" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,397,712</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_LeasesMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5241" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_LeasesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5137" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,321</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_LeasesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5171" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">29,992</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_LeasesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5135" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">57,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_LeasesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5211" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,351</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_LeasesMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag6780" decimals="-3" scale="3" format="ixt:num-dot-decimal">53,022</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contingent consideration </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ContingentConsiderationMember" name="csan:ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="Tag5262" escape="true">Currency fluctuation</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_ContingentConsiderationMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5031" decimals="-3" scale="3" format="ixt:num-dot-decimal">239,993</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_ContingentConsiderationMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5063" decimals="-3" scale="3" format="ixt:num-dot-decimal">299,991</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_ContingentConsiderationMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5095" decimals="-3" scale="3" format="ixt:num-dot-decimal">359,989</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_ContingentConsiderationMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5222" decimals="-3" scale="3" format="ixt:num-dot-decimal">179,995</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_ContingentConsiderationMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5019" decimals="-3" scale="3" format="ixt:num-dot-decimal">119,997</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Impacts on profit or loss&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5238" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,427,507</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5259" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,916,743</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5127" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,088,475</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5161" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,424,719</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember" name="csan:SensitivityAnalysisImpactOnProfitLoss" unitRef="BRL" id="Tag5052" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,598,451</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfForeignCurrencySensitivityAnalysisTableTextBlock" id="Tag6125" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The probable scenario considers the estimated exchange rates, made by a specialized third part, at the due date of the transactions for the companies with functional currency Brazilian <span style="font-style: italic;">reais</span> (positive and negative, before tax effects), as follows:</span></p>
</div>
<ix:exclude>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-62</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div id="t_ft_7OOOODPLI800000000000000000000b"><br/></div>
</div>
</ix:exclude>
<table cellpadding="0" width="100%" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; height: 111px;">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="16" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Exchange rate sensitivity analysis (R$/U.S.$) and (R$/&#8364;) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 38px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 38px;" rowspan="2"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 38px;" rowspan="2"><br/></td>
<td colspan="13" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 18%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_USD" name="csan:ForeignCurrencySensitivityAnalysis" unitRef="Pure" id="Tag5178" decimals="6" scale="-2" format="ixt:num-dot-decimal">5.5805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_USD_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember" name="csan:ForeignCurrencyScenarioProbableSensitivityAnalysis" unitRef="Pure" id="Tag5237" decimals="6" scale="-2" format="ixt:num-dot-decimal">5.7000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_USD_ActuarialAssumptionsPercentageOneIncreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5153" decimals="6" scale="-2" format="ixt:num-dot-decimal">7.1250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_USD_ActuarialAssumptionsPercentageTwoIncreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5115" decimals="6" scale="-2" format="ixt:num-dot-decimal">8.5500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_USD_ActuarialAssumptionsPercentageOneDecreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5213" decimals="6" scale="-2" format="ixt:num-dot-decimal">4.2750</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_USD_ActuarialAssumptionsPercentageTwoDecreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5096" decimals="6" scale="-2" format="ixt:num-dot-decimal">2.8500</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8364; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EUR" name="csan:ForeignCurrencySensitivityAnalysis" unitRef="Pure" id="Tag5034" decimals="6" scale="-2" format="ixt:num-dot-decimal">6.3210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EUR_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember" name="csan:ForeignCurrencyScenarioProbableSensitivityAnalysis" unitRef="Pure" id="Tag5046" decimals="6" scale="-2" format="ixt:num-dot-decimal">6.5550</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EUR_ActuarialAssumptionsPercentageOneIncreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5017" decimals="6" scale="-2" format="ixt:num-dot-decimal">8.1938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EUR_ActuarialAssumptionsPercentageTwoIncreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5048" decimals="6" scale="-2" format="ixt:num-dot-decimal">9.8325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EUR_ActuarialAssumptionsPercentageOneDecreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5038" decimals="6" scale="-2" format="ixt:num-dot-decimal">4.9163</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_EUR_ActuarialAssumptionsPercentageTwoDecreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5263" decimals="6" scale="-2" format="ixt:num-dot-decimal">3.2775</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#163; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GBP" name="csan:ForeignCurrencySensitivityAnalysis" unitRef="Pure" id="Tag5023" decimals="6" scale="-2" format="ixt:num-dot-decimal">7.5242</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GBP_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember" name="csan:ForeignCurrencyScenarioProbableSensitivityAnalysis" unitRef="Pure" id="Tag5134" decimals="6" scale="-2" format="ixt:num-dot-decimal">7.9230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GBP_ActuarialAssumptionsPercentageOneIncreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5257" decimals="6" scale="-2" format="ixt:num-dot-decimal">9.9038</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GBP_ActuarialAssumptionsPercentageTwoIncreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5239" decimals="6" scale="-2" format="ixt:num-dot-decimal">11.8845</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GBP_ActuarialAssumptionsPercentageOneDecreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5107" decimals="6" scale="-2" format="ixt:num-dot-decimal">5.9423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GBP_ActuarialAssumptionsPercentageTwoDecreaseMember" name="csan:IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5201" decimals="6" scale="-2" format="ixt:num-dot-decimal">3.9615</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 111.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Interest rate risk</span></li>
</ol>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries monitor the fluctuations in variable interest rates in connection with its borrowings and uses derivative instruments in order to minimize variable interest rate fluctuation risks.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfSensitivityAnalysisOnInterestRatesOnLoansAndBorrowingsWhichImpactsOnProfitOrLossTableTextBlock" id="Tag6123" escape="true">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A sensitivity analysis on the interest rates on loans and borrowings in compensation for the CDI investments with pre-tax increases and decreases of <ix:nonFraction contextRef="D20211231_ScenarioOneMember" name="csan:PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" unitRef="Pure" id="Tag5123" decimals="2" scale="-2" format="ixt:num-dot-decimal">25</ix:nonFraction>% and <ix:nonFraction contextRef="D20211231_ScenarioTwoMember" name="csan:PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" unitRef="Pure" id="Tag5014" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% is presented below:</span></p>
<div id="t_ft_4RD202OEJ400000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 108px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="10" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Variation scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Exposure interest rate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 30%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_CashAndCashEquivalentMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5258" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,623,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_CashAndCashEquivalentMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag4999" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,995,927</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_CashAndCashEquivalentMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5053" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,385,014</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_CashAndCashEquivalentMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5145" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,423,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_CashAndCashEquivalentMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5094" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,116,070</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_MarketableSecuritiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5176" decimals="-3" scale="3" format="ixt:num-dot-decimal">487,145</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_MarketableSecuritiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5090" decimals="-3" scale="3" format="ixt:num-dot-decimal">598,464</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_MarketableSecuritiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5043" decimals="-3" scale="3" format="ixt:num-dot-decimal">714,627</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_MarketableSecuritiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5185" decimals="-3" scale="3" format="ixt:num-dot-decimal">430,749</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_MarketableSecuritiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5022" decimals="-3" scale="3" format="ixt:num-dot-decimal">340,218</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lease and concession in installments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_LeaseAndConcessionInInstallmentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5141" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">121,902</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_LeaseAndConcessionInInstallmentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5097" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">152,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_LeaseAndConcessionInInstallmentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5261" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">182,853</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_LeaseAndConcessionInInstallmentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5129" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">91,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_LeaseAndConcessionInInstallmentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5188" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">60,951</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_LeasesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5167" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">371,433</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_LeasesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5265" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">371,433</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_LeasesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5011" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">371,433</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_LeasesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5066" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">371,433</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_LeasesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5196" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">371,433</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_DerivativeFinancialInstrumentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5125" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,327,786</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_DerivativeFinancialInstrumentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5099" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,365,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_DerivativeFinancialInstrumentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5071" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,073,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_DerivativeFinancialInstrumentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5069" decimals="-3" scale="3" format="ixt:num-dot-decimal">223,066</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_DerivativeFinancialInstrumentsMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5151" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,124,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_LoansBorrowingsAndDebenturesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5189" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,244,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5152" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,760,945</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5086" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,184,050</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5119" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,914,734</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_LoansBorrowingsAndDebenturesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5217" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,491,629</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_OtherFinancialLiabilitiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5121" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">71,996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember_OtherFinancialLiabilitiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5029" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">88,073</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_OtherFinancialLiabilitiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5060" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">104,151</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember_OtherFinancialLiabilitiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5175" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">55,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_OtherFinancialLiabilitiesMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5209" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">39,840</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Impacts on profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5180" decimals="-3" scale="3" format="ixt:num-dot-decimal">628,702</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneIncreaseMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5124" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,143,748</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoIncreaseMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5055" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,815,858</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageOneDecreaseMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5138" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">356,054</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_ActuarialAssumptionsPercentageTwoDecreaseMember" name="csan:EstimatedPretaxProfitSensitivityAnalysis" unitRef="BRL" id="Tag5169" decimals="-3" scale="3" format="ixt:num-dot-decimal">616,606</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfSensitivityAnalysisOnInterestRatesTableTextBlock" id="Tag6124" escape="true">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The probable scenario considers the estimated interest rate, made by a specialized third party and Central Bank of Brazil (<span style="font-style: italic;">Banco Central do Brasil</span>), or &#8220;BACEN,&#8221; as follows:</span></p>
<div id="t_ft_RPJI7HEDZK00000000000000000000b">
<table cellpadding="0" style="height: 154px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 36%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> SELIC </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_SelicMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5001" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.15</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_SelicMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5144" decimals="4" scale="-2" format="ixt:num-dot-decimal">13.94</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_SelicMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5002" decimals="4" scale="-2" format="ixt:num-dot-decimal">16.73</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_SelicMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5045" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.36</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_SelicMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5003" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.58</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_CDIMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5065" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.15</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_CDIMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5203" decimals="4" scale="-2" format="ixt:num-dot-decimal">13.94</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_CDIMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5198" decimals="4" scale="-2" format="ixt:num-dot-decimal">16.73</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_CDIMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5072" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.36</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_CDIMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5193" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.58</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TJLP462 (TJLP + 1% p.a.) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_TJLPFourSixTwoTJLPPlusOnePercentageMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5226" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.60</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_TJLPFourSixTwoTJLPPlusOnePercentageMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5089" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.25</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_TJLPFourSixTwoTJLPPlusOnePercentageMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5050" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_TJLPFourSixTwoTJLPPlusOnePercentageMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5131" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.95</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_TJLPFourSixTwoTJLPPlusOnePercentageMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5044" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.30</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TJLP </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_TJLPMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5240" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.60</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_TJLPMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5172" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.25</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_TJLPMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5246" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_TJLPMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5208" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.95</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_TJLPMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5148" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.30</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_IPCAMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5028" decimals="4" scale="-2" format="ixt:num-dot-decimal">4.61</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_IPCAMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5073" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.76</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_IPCAMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5120" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.91</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_IPCAMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5068" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.46</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_IPCAMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5039" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.30</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IGPM </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_IGPMMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5236" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.19</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_IGPMMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5256" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.48</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_IGPMMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5197" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.78</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_IGPMMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5111" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.89</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_IGPMMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5187" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.59</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Libor </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_LIBORMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5159" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.16</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_LIBORMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5195" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.45</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_LIBORMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5058" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.74</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_LIBORMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5250" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.87</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_LIBORMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5233" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.58</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fed Funds </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionOfSensitivityAnalysisOnForeignExchangeProbableMember_FEDFUNDSMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5026" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneIncreaseMember_FEDFUNDSMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5112" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.13</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoIncreaseMember_FEDFUNDSMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5146" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.35</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageOneDecreaseMember_FEDFUNDSMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5205" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.68</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ActuarialAssumptionsPercentageTwoDecreaseMember_FEDFUNDSMember" name="csan:EstimatedInterestRate" unitRef="Pure" id="Tag5110" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.45</ix:nonFraction>%</span></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 111.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Price risk</span></li>
</ol>
<ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><br/></p>
<br/></div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-63</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 152.51pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Financial position and unrealized gains on electricity trading operations, net</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Electricity trading operations are carried out in an active market and recognized at fair value through profit or loss, based on the difference between the contracted price and the market price of open contracts at the reporting date.</span></p>
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This fair value is estimated mainly based on the price quotations used in the active over-the-counter market, insofar as such observable market data exist, and, to a lesser extent, by the use of valuation techniques that consider prices established in operations of purchase and sale and market prices estimated by specialized entities, when such information is available.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfOutstandingEnergyTradingOperationsTableTextBlock" id="Tag6761" escape="true">
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Statement of financial position balances referring to outstanding energy trading operations are as follows:</span></p>
<div id="t_ft_95MK4J0XSW00000000000000000000b">
<table cellpadding="0" style="height: 47px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Net gain </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Net gain </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 29%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity trading </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CommodityPriceRiskMember_ElectricityDistributionMember" name="ifrs-full:HedgingInstrumentAssets" unitRef="BRL" id="Tag5181" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,576</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_CommodityPriceRiskMember_ElectricityDistributionMember" name="ifrs-full:HedgingInstrumentLiabilities" unitRef="BRL" id="Tag5254" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">317,699</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CommodityPriceRiskMember_ElectricityDistributionMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag5126" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">248,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CommodityPriceRiskMember_ElectricityDistributionMember" name="ifrs-full:HedgingInstrumentAssets" unitRef="BRL" id="Tag5105" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,595</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_CommodityPriceRiskMember_ElectricityDistributionMember" name="ifrs-full:HedgingInstrumentLiabilities" unitRef="BRL" id="Tag5059" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">268,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_CommodityPriceRiskMember_ElectricityDistributionMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag5117" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">189,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The main risk factor that impacts the pricing of energy trading operations is the exposure to market energy prices. The scenarios for sensitivity analysis considering this factor are prepared using market data and specialized sources, considering future prices, applied to the market curves as of December 31, 2021, as follows:</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfSensitivityAnalysisOnPriceRiskOfEnergyTradingOperationsTableTextBlock" id="Tag6128" escape="true">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 15pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td colspan="10" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Variation scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 15pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 41%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Unrealized loss from&#160;electricity trading </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CommodityPriceRiskMember_ElectricityDistributionMember_VariationAnalysisProbableMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag5163" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">248,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CommodityPriceRiskMember_ElectricityDistributionMember_VariationAnalysis25PercentageIncreaseMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag5018" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">244,212</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CommodityPriceRiskMember_ElectricityDistributionMember_VariationAnalysis50PercentageIncreaseMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag6777" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">240,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CommodityPriceRiskMember_ElectricityDistributionMember_VariationAnalysis25PercentageDecreaseMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag5041" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">252,034</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CommodityPriceRiskMember_ElectricityDistributionMember_VariationAnalysis50PercentageDecreaseMember" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" unitRef="BRL" id="Tag5100" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">255,942</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; text-align: left;">)</td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" id="Tag6121" escape="true">
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The projection of settlement of positions, at nominal value, follows the schedule below:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_AEVMUNVVWG00000000000000000000b">
<table cellpadding="0" style="height: 34px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2022 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2023 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2024 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Above 2025 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; width: 44%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Positions to be settled </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_CommodityPriceRiskMember_ElectricityDistributionMember_NotLaterThanOneYearMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag5036" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">248,115</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; padding: 0px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_CommodityPriceRiskMember_ElectricityDistributionMember_LaterThanOneYearAndNotLaterThanTwoYearsMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag4755" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,822</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; padding: 0px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CommodityPriceRiskMember_ElectricityDistributionMember_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag5007" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,093</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; padding: 0px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CommodityPriceRiskMember_ElectricityDistributionMember_LaterThanFourYearsMember" name="csan:NominalValueOfHedgingInstruments" unitRef="BRL" id="Tag5174" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,721</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 5.75pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Credit risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s regular operations expose it to potential defaults when customers, suppliers and counterparties are unable to comply with their financial or other commitments. The Company seeks to mitigate this risk by entering into transactions with a diverse pool of counterparties. However, the Company continues to remain subject to unexpected third-party financial failures that could disrupt its operations.</span></p>
</div>
<ix:exclude>
<p style="text-align: justify;"><br/></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-64</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0px; text-indent: 0px;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfCreditRiskExposureExplanatory" id="Tag6090" escape="true">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The exposure to credit risk was as follows:</span></p>
<div id="t_ft_8VL3GQT1K000000000000000000000b">
<table cellpadding="0" style="height: 131px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 11px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 11px; width: 75%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CashAndCashEquivalentMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5182" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,174,130</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 11px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CashAndCashEquivalentMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5168" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,642,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 11px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_TradeReceivablesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5104" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,745,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_TradeReceivablesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5075" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,033,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MarketableSecuritiesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5033" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,388,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MarketableSecuritiesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5221" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,669,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 11px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 11px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RestrictedCashMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5139" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,990</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_RestrictedCashMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5225" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_DerivativeFinancialInstrumentsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5102" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,732,926</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_DerivativeFinancialInstrumentsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5012" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,140,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ReceivablesFromRelatedPartiesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5230" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,491</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ReceivablesFromRelatedPartiesMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5242" decimals="-3" scale="3" format="ixt:num-dot-decimal">929,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends receivable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_DividendsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5170" decimals="-3" scale="3" format="ixt:num-dot-decimal">519,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_DividendsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5013" decimals="-3" scale="3" format="ixt:num-dot-decimal">80,755</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RestrictedCashAndCashEquivalentsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5186" decimals="-3" scale="3" format="ixt:num-dot-decimal">320,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RestrictedCashAndCashEquivalentsMember" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5245" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,562</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag5061" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,356,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CreditExposure" unitRef="BRL" id="Tag6778" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,531,175</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is also exposed to risks in connection with its cash management activities and temporary investments.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Liquid assets are invested primarily in government security and other investments in Banks with a minimum grade of &#8220;A.&#8221; Credit risk from balances with banks and financial institutions is managed by the Company&#8217;s treasury department in accordance with the Company&#8217;s policy.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The credit risk of lease receivables is classified into <ix:nonFraction contextRef="D20211231_5" name="csan:NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" unitRef="Item" id="Tag5243" decimals="0" format="ixt-sec:numwordsen">two</ix:nonFraction> categories of customers: (i) Level 1 and (ii) Level 2. Most investment properties of subsidiaries are leased to customers classified as Level 1, with no history of late payment or default and with a sound financial situation. To mitigate the credit risk related to lease receivables, the Company's policy limits its exposure to Level 2 customers to a minimum. For accounts receivable related to the sale of investment properties, the risk is mitigated by granting ownership of land to the customer only when a down payment for the transaction is received. In addition, title to ownership is transferred only upon receipt of outstanding payments in full.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Counterparty credit limits are reviewed on an annual basis and may be updated throughout the year. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through potential counterparty&#8217;s failure to make payments. The credit risk on cash and cash equivalents, marketable securities and derivative financial instruments are determined by rating instruments widely accepted by the market and are arranged as follows:</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfExternalCreditExposuresExplanatory" id="Tag6126" escape="true">
<table cellpadding="0" style="height: 85px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: center; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: center; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 73%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> AAA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_AAACreditRatingMember" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5184" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,080,390</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AAACreditRatingMember" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5006" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,878,272</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> AA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_AACreditRatingMember" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5179" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,239,266</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AACreditRatingMember" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5078" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,991,846</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BBB</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_BBBCreditRatingMember" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5251" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,397</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_BBBCreditRatingMember" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5122" decimals="-3" scale="3" format="ixt:num-dot-decimal">617,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5235" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,354,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:MaximumExposureToCreditRisk" unitRef="BRL" id="Tag5173" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,487,289</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-65</span></td>
</tr>
</tbody>
</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Liquidity risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company&#8217;s reputation.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:MaturityAnalysisForNonderivativeFinancialLiabilities" id="Tag6122" escape="true">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The financial assets and liabilities of the Company by due dates (based on undiscounted cash flows contracted) are as follows:</span></p>
<div style="border-right: none; border-left: none;">
<table cellpadding="0" style="height: 229px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="17" style="padding: 0px; vertical-align: bottom; text-align: center; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021</span><br/></p>
</td>
<td style="vertical-align: top; padding: 0px; text-align: center; height: 10px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2020</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Up to 1 year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 1 - 2 years </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 3 - 5 years </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> More than 5 years </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 29%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_LoansBorrowingsAndDebenturesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5020" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,845,774</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_LoansBorrowingsAndDebenturesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5108" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,628,072</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_LoansBorrowingsAndDebenturesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5132" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,124,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_LoansBorrowingsAndDebenturesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5192" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">32,777,404</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LoansBorrowingsAndDebenturesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5231" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">57,375,287</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_LoansBorrowingsAndDebenturesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5005" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">46,012,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_TradePayablesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5166" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,253,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_TradePayablesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5218" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_TradePayablesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5212" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_TradePayablesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5030" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_TradePayablesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5025" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,253,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_TradePayablesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5147" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,629,734</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_OtherFinancialLiabilityMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5070" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">726,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_OtherFinancialLiabilityMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5000" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_OtherFinancialLiabilityMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5149" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_OtherFinancialLiabilityMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5191" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_OtherFinancialLiabilityMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5049" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">726,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_OtherFinancialLiabilityMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5206" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">562,763</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax installments - REFIS </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_TaxInstallmentsREFISMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5087" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">52,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_TaxInstallmentsREFISMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5109" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,453</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_TaxInstallmentsREFISMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5082" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,395</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_TaxInstallmentsREFISMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5234" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">143,011</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_TaxInstallmentsREFISMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5077" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">200,664</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_TaxInstallmentsREFISMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5021" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">203,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_LeasesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5143" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">413,310</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_LeasesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5064" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">413,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_LeasesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag1155" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,133,476</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_LeasesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5140" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,671,334</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LeasesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5162" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,631,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_LeasesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5220" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,348,296</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railway concession payable under litigation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_RailwayConcessionPayableUnderLitigationMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5091" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">187,972</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_RailwayConcessionPayableUnderLitigationMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5155" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">201,876</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_RailwayConcessionPayableUnderLitigationMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5160" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">198,532</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_RailwayConcessionPayableUnderLitigationMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5008" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">596,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_RailwayConcessionPayableUnderLitigationMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5228" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,185,076</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_RailwayConcessionPayableUnderLitigationMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5232" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,219,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_PayablesToRelatedPartiesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5103" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">287,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_PayablesToRelatedPartiesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5118" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_PayablesToRelatedPartiesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5047" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_PayablesToRelatedPartiesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5037" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_PayablesToRelatedPartiesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5128" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">287,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_PayablesToRelatedPartiesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5009" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">315,433</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_DividendsPayableMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5027" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">799,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_DividendsPayableMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5054" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_DividendsPayableMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5190" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_DividendsPayableMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag1158" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_DividendsPayableMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5015" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">799,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_DividendsPayableMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5062" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">24,238</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_DerivativeFinancialInstrumentsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5080" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,064,207</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_DerivativeFinancialInstrumentsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5051" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,078</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_DerivativeFinancialInstrumentsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5252" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,380,014</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_DerivativeFinancialInstrumentsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5150" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,998,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_DerivativeFinancialInstrumentsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5004" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,313,208</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_DerivativeFinancialInstrumentsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5024" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,988,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders payable in subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_PreferredShareholdersPayableInSubsidiariesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5260" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_PreferredShareholdersPayableInSubsidiariesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5083" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_PreferredShareholdersPayableInSubsidiariesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5032" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_PreferredShareholdersPayableInSubsidiariesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5253" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_PreferredShareholdersPayableInSubsidiariesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5202" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_PreferredShareholdersPayableInSubsidiariesMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag6779" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">387,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5214" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,631,238</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5092" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,248,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5016" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,077,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LaterThanFiveYearsMember_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5204" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">41,189,966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5229" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">73,146,801</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_LiquidityRiskMember" name="csan:NonDerivativeFinancialLiabilities" unitRef="BRL" id="Tag5249" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">61,713,570</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Capital management risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company's policy is to maintain a solid capital base to promote the trust of its parent companies, creditors and the market, and to ensure the future development of the business. Management monitors the return on capital, which is defined by the Company as the result of its operating activities divided by the total shareholders' equity, so that it is adequate for each of its businesses.</span></p>
</div>
</ix:continuation>
</div>
</div><div id="Normadiv31" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfCurrentTaxReceivablesExplanatory" id="Tag7010" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0pt; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; padding-left: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: black;"><span style="display: inline;">7</span>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other tax receivables</span></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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; padding-left: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: black;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 30pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 30pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 30pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax assets are measured at cost and primarily include (i) tax effects which are recognized when the asset is sold to a third party or recovered through amortization of the asset&#8217;s remaining economic life; and (ii) income tax receivables that are expected to be recovered either as refunds from taxing authorities or as a reduction to future tax obligations.&#160;&#160;</span></p>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div style="margin: 0 auto;">
<ix:exclude>
<div>
<div id="t_ft_00NBV09V9S00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-66</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
<div id="t_ft_R2LCIWXRJK00000000000000000000b">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureDetailsOfTradeReceivablesAndOtherCurrentAssetsExplanatory" id="Tag7011" escape="true">
<div>
<table cellpadding="0" style="height: 145px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;&#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">COFINS - Revenue tax<span style="vertical-align: super; font-size: 8pt;">(iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <span style="border-right: none; border-left: none;"><ix:nonFraction contextRef="I20211231_CofinsRevenueTaxMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6264" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,333,868</ix:nonFraction></span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CofinsRevenueTaxMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2053" decimals="-3" scale="3" format="ixt:num-dot-decimal">625,174</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS &#8211; State VAT<span style="font-size: 8pt;"><sup>(i)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ICMSTaxesMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6263" decimals="-3" scale="3" format="ixt:num-dot-decimal">873,203</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ICMSTaxesMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6255" decimals="-3" scale="3" format="ixt:num-dot-decimal">754,749</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS CIAP &#8211; State VAT<span style="font-size: 8pt;"><sup>(ii)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ICMSCIAPTaxesMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2049" decimals="-3" scale="3" format="ixt:num-dot-decimal">106,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ICMSCIAPTaxesMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2046" decimals="-3" scale="3" format="ixt:num-dot-decimal">124,006</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">PIS - Revenue tax<span style="vertical-align: super; font-size: 8pt;">(iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <span style="border-right: none; border-left: none;"><ix:nonFraction contextRef="I20211231_PISRevenueTaxMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6262" decimals="-3" scale="3" format="ixt:num-dot-decimal">299,610</ix:nonFraction></span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_PISRevenueTaxMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2056" decimals="-3" scale="3" format="ixt:num-dot-decimal">136,765</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credit installment&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CreditInstallmentMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2047" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,932</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CreditInstallmentMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2048" decimals="-3" scale="3" format="ixt:num-dot-decimal">42,138</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OtherTaxesMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6266" decimals="-3" scale="3" format="ixt:num-dot-decimal">145,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OtherTaxesMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2044" decimals="-3" scale="3" format="ixt:num-dot-decimal">60,206</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2055" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,801,167</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2054" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,743,038</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2045" decimals="-3" scale="3" format="ixt:num-dot-decimal">921,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2057" decimals="-3" scale="3" format="ixt:num-dot-decimal">785,367</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6265" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,879,695</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag6254" decimals="-3" scale="3" format="ixt:num-dot-decimal">957,671</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px; font-family: 'times new roman';"><span style="font-family: 'times new roman', times; font-size: 10pt;"> </span><br/></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 6%; text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%; vertical-align: top;" valign="top"><br/></td>
<td style="width: 93%; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote4"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS credit related to the purchase of materials and diesel used in rail transportation.</span></ix:footnote></p>
</td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><br/></td>
<td valign="top" style="vertical-align: top;"><br/></td>
<td valign="top" style="vertical-align: top;"><br/></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td valign="top" style="vertical-align: top;"><br/></td>
<td valign="top" style="vertical-align: top;">
<p style="margin: 0pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote5"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS credit arising from acquisitions of property, plant and equipment.</span></ix:footnote></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px; font-family: 'times new roman';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div style="border-left: none; border-right: none; font-size: 10pt; font-family: 'times new roman';">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 10px;">
<tbody>
<tr style="height: 10px;">
<td style="vertical-align: top; text-align: right; height: 10px; width: 6%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="height: 10px; width: 1%;"><br/></td>
<td style="text-align: justify; height: 10px; vertical-align: top; font-family: 'times new roman', times; font-size: 10pt; width: 93%;" valign="top">
<ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote3"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">At the subsidiary </span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, on March 15, 2017, the Federal Supreme Court (</span>Supremo<span> tribunal Federal or &#8220;STF&#8221;) concluded the judgment of Extraordinary Appeal No. 574,706 and, under the general repercussion system, established the thesis that the (</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> ICMS tax should not be included in the calculation basis of the Social Integration Program tax (</span>Programa<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> de </span>Integra&#231;&#227;o<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> ;Social or &#8220;PIS&#8221;) and the Contribution to Social Security Financing tax (</span>Contribui&#231;&#227;o<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> para o </span>Financiamento<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> da </span>Seguridade<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> Social or &#8220;COFINS&#8221;), since such amount does not constitute the Company's revenue. That is, taxpayers have the right to exclude the amount related to ICMS highlighted in the invoice from the PIS and COFINS calculation basis.</span></span></span></span>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span><span>In 2018, the subsidiary Comg&#225;s recognized the credits for the periods after March 2017 based on the decision given at that date by the Supreme Court, maintaining as contingent asset values arising from the action, not yet judged definitively, which went back to July 2008.</span></span></span></span>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span><span>At the subsidiary Comg&#225;s, on May 13, 2021, the STF concludes the judgment on the modulation of the effects of the decision that excluded ICMS from the PIS and COFINS calculation basis (RE 574,706), as well as confirmed that the ICMS to be considered in the matter is the highlighted, not collected. According to the modulation, the effects of the exclusion are valid from March 15, 2017 &#8211; the date on which the ministers decided on the merits in the Plenary of the Court. In the case of Comg&#225;s, since its original claim dates from July 2013, in accordance with the legal form of the modulation of the effects, the right to recover the undue amount until July 2008. In this way, all relevant circumstances and, up to then, pending on the subject were overcome and, therefore, from the point of view of IAS 37 , the amounts related to the claim were no longer classified as contingent assets, since their existence was confirmed, and their realization is practically certain. Therefore, in June 2021, the Company recorded, an amount of R$<ix:nonFraction contextRef="I20210630_ComgasMember_PisAndCofinsMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2058" decimals="-3" scale="3" format="ixt:num-dot-decimal">957,663</ix:nonFraction> (R$<ix:nonFraction contextRef="I20210630_ComgasMember_PisAndCofinsMember" name="csan:ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" unitRef="BRL" id="Tag7013" decimals="-3" scale="3" format="ixt:num-dot-decimal">573,462</ix:nonFraction> principal and R$<ix:nonFraction contextRef="I20210630_ComgasMember_PisAndCofinsMember" name="csan:ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" unitRef="BRL" id="Tag2042" decimals="-3" scale="3" format="ixt:num-dot-decimal">382,201</ix:nonFraction> monetary restatement), updated on December 31, 2021, total R$<ix:nonFraction contextRef="I20211231_ComgasMember_PisAndCofinsMember" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2050" decimals="-3" scale="3" format="ixt:num-dot-decimal">956,338</ix:nonFraction> (R$<ix:nonFraction contextRef="I20211231_ComgasMember_PisAndCofinsMember" name="csan:ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" unitRef="BRL" id="Tag2051" decimals="-3" scale="3" format="ixt:num-dot-decimal">563,175</ix:nonFraction> principal and R$<ix:nonFraction contextRef="I20211231_ComgasMember_PisAndCofinsMember" name="csan:ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" unitRef="BRL" id="Tag2043" decimals="-3" scale="3" format="ixt:num-dot-decimal">393,213</ix:nonFraction> monetary restatement), related to PIS and COFINS credits in its non-current assets, which includes monetary restatement at the SELIC rate. In August 2021, the final and unappealable decision of the individual action filed by the subsidiary Comg&#225;s on the subject in 2013 was certified. Eventually, be considered as a component of tariff adjustment within the scope of the economic and financial balance of the concession contract, and such interpretation gained greater clarity after the modulation of the effects by the STF in the judgment of May 13, 2021. Therefore, of the total amount of credits recognized up to December 31, 2021, the subsidiary Comg&#225;s also recorded a provision in the amount of R$<ix:nonFraction contextRef="I20211231_ComgasMember_ProvisionForTaxesOtherThanIncomeTaxMember_PisAndCofinsMember" name="ifrs-full:OtherProvisions" unitRef="BRL" id="Tag7012" decimals="-3" scale="3" format="ixt:num-dot-decimal">638,975</ix:nonFraction> (R$<ix:nonFraction contextRef="I20211231_ComgasMember_ProvisionForTaxesOtherThanIncomeTaxMember_PisAndCofinsMember" name="csan:OtherProvisionsPrincipalAmount" unitRef="BRL" id="Tag6253" decimals="-3" scale="3" format="ixt:num-dot-decimal">375,565</ix:nonFraction> principal and R$<ix:nonFraction contextRef="I20211231_ComgasMember_ProvisionForTaxesOtherThanIncomeTaxMember_PisAndCofinsMember" name="csan:OtherProvisionsMonetaryRestatment" unitRef="BRL" id="Tag2052" decimals="-3" scale="3" format="ixt:num-dot-decimal">263,410</ix:nonFraction> monetary restatement), equivalent to the uncertain portion, in its Sectoral Liabilities item, in non-current liabilities (Note 6<span style="border-left: none; border-right: none;">.9</span>). According to ARSESP Resolution No. 1,254 of December 8, 2021, as of December 10, 2021, tariffs already exclude ICMS from PIS and COFINS calculation basis.</span></span></span></span></span></span></ix:footnote>
</td>
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<p style="margin: 0pt 0pt 0pt 71.45pt; text-align: justify;"><br/></p>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-67</span></td>
</tr>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</div><p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div id="Normadiv32" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfInventoriesExplanatory" id="Tag2041" escape="true">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">8</span>.&#160; &#160; Inventories</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Inventories are stated at the lower of cost and net realizable value (it is the estimated selling price in the normal course of business, less estimated completion costs and estimated costs necessary to make the sale). The cost of finished and under construction products comprises direct materials, direct labor and an adequate proportion of variable and fixed overheads, the latter being allocated based on normal operational capacity. Costs are assigned to individual inventory items based on weighted average costs.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfCurrentInventoriesExplanatory" id="Tag2040" escape="true">
<p style="margin: 0pt 0pt 10pt 16pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The provision for obsolete inventories is made for the risks associated with the realization and sale of inventories due to obsolescence and measured at the net realizable value or the cost, whichever is less.</span></p>
<div id="t_ft_4FUFG6MXWG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.8338%; height: 129px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finished goods </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:FinishedGoods" unitRef="BRL" id="Tag6867" decimals="-3" scale="3" format="ixt:num-dot-decimal">814,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:FinishedGoods" unitRef="BRL" id="Tag2035" decimals="-3" scale="3" format="ixt:num-dot-decimal">560,028</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Spare parts and accessories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:SpareParts" unitRef="BRL" id="Tag2039" decimals="-3" scale="3" format="ixt:num-dot-decimal">180,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:SpareParts" unitRef="BRL" id="Tag2036" decimals="-3" scale="3" format="ixt:num-dot-decimal">219,831</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Raw material </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:RawMaterials" unitRef="BRL" id="Tag2038" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:RawMaterials" unitRef="BRL" id="Tag6868" decimals="-3" scale="3" format="ixt:num-dot-decimal">118,319</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Warehouse and other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:WarehouseAndOthers" unitRef="BRL" id="Tag2037" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,809</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:WarehouseAndOthers" unitRef="BRL" id="Tag2033" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,279</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fuels and lubricants </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentFuel" unitRef="BRL" id="Tag2030" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentFuel" unitRef="BRL" id="Tag2032" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,807</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2034" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,149,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:Inventories" unitRef="BRL" id="Tag2031" decimals="-3" scale="3" format="ixt:num-dot-decimal">935,264</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 0pt 16pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span>The balances are presented net of the provision for obsolete inventories in the amount of R$ <ix:nonFraction contextRef="D20211231_5" name="csan:ProvisionForObsoleteInventories" unitRef="BRL" id="Tag2029" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,841</ix:nonFraction> on December 31, 2021 (R$ <ix:nonFraction contextRef="D20201231_4" name="csan:ProvisionForObsoleteInventories" unitRef="BRL" id="Tag2028" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,449</ix:nonFraction> on December 31, 2020).</span> <br/></span></p>
</ix:nonNumeric>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
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<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">9.&#160; Investments in associates</span></p>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">9.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;</span><span style="font-weight: bold;">Investments in subsidiaries and associates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-68</span></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="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Subsidiaries</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsidiaries are all entities over which the Company has control. Subsidiaries are fully consolidated from the date of acquisition of control and continue to be consolidated until the date that control ceases to exist. They are deconsolidated from the date that control ceases. The financial statements of subsidiaries are prepared for the same reporting period as that of the parent company, using consistent accounting policies. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Company&#8217;s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Company are eliminated in full on consolidation. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company&#8217;s interest in the investee. Unrealized losses are similarly eliminated, but only to the extent that there is no evidence of impairment.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Associates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Associates are those entities in which the Company has significant influence, but not control or joint control, over the financial and operating policies.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments in associates are accounted for under the equity method and are recognized initially at cost. The cost of the investment includes transaction costs.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the equity method of accounting, the share attributable to the Company of the profit or loss for the period of such investments is accounted for in the statement of profit or loss, in &#8220;Equity in investees.&#8221; Unrealized gains and losses arising on transactions between the Company and the investees are eliminated based on the percentage of interest held in such investees. The other comprehensive income of subsidiaries, associates and jointly controlled entities is recorded directly in the Company&#8217;s shareholders&#8217; equity, in &#8220;Other comprehensive income.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company&#8217;s interest in the investee. Unrealized losses are similarly eliminated, but only to the extent that there is no evidence of impairment.</span></p>
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<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan&#8217;s subsidiaries are listed below:</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Directly owned subsidiaries </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Log&#237;stica S.A.<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
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<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_AssociatesMember_CosanLogisticaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6769" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
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<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember_CosanLogisticaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3777" decimals="4" scale="-2" format="ixt:num-dot-decimal">73.48</ix:nonFraction>% </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan S.A.<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_AssociatesMember_CosanSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6773" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember_CosanSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3716" decimals="4" scale="-2" format="ixt:num-dot-decimal">66.74</ix:nonFraction>% </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Limited Partners Brasil Consultoria Ltda<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
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<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_CosanLimitedPartnersBrasilConsultoriaLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6772" decimals="4" scale="-2" format="ixt:num-dot-decimal">97.50</ix:nonFraction>% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember_CosanLimitedPartnersBrasilConsultoriaLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6768" decimals="4" scale="-2" format="ixt:num-dot-decimal">60.00</ix:nonFraction>% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sinlog Tecnologia em Log&#237;stica S.A.<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_SinlogTecnologiaEmLogsticaSaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3761" decimals="4" scale="-2" format="ixt:num-dot-decimal">72.25</ix:nonFraction>% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember_SinlogTecnologiaEmLogsticaSaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3788" decimals="4" scale="-2" format="ixt:num-dot-decimal">64.52</ix:nonFraction>% </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia (i) </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3721" decimals="4" scale="-2" format="ixt:num-dot-decimal">88.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3719" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.01</ix:nonFraction>% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubes Investments Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLubesInvestmentsLimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5385" decimals="4" scale="-2" format="ixt:num-dot-decimal">70.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLubesInvestmentsLimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6829" decimals="4" scale="-2" format="ixt:num-dot-decimal">70.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Cayman II Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCaymanIILimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3733" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCaymanIILimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5402" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Global Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanGlobalLimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3792" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanGlobalLimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5338" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Investimentos e Participa&#231;&#245;es S.A. </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3804" xsi:nil="true"></ix:nonFraction> &#8212;% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6766" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Luxembourg S.A.<span style="vertical-align: super; font-size: 8pt;">(ii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLuxembourgSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3803" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLuxembourgSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3734" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Overseas Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanOverseasLimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3768" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanOverseasLimitedMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3722" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Pasadena Empreendimentos e Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PasadenaEmpreendimentoseParticipacoesSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3729" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_PasadenaEmpreendimentoseParticipacoesSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3696" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Atl&#226;ntico Participa&#231;&#245;es Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AtlanticoParticipacoesLtdaMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3736" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_AtlanticoParticipacoesLtdaMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6406" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payly Solu&#231;&#245;es de Pagamentos S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PaylySolucoesDePagamentosSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6832" decimals="4" scale="-2" format="ixt:num-dot-decimal">75.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_PaylySolucoesDePagamentosSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3769" decimals="4" scale="-2" format="ixt:num-dot-decimal">75.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo S.A.<span style="vertical-align: super; font-size: 8pt;">(ii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3807" decimals="4" scale="-2" format="ixt:num-dot-decimal">30.35</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3715" decimals="4" scale="-2" format="ixt:num-dot-decimal">30.35</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div><br/></div>
</div>
<div>
<ix:exclude>
<div>
<div id="t_ft_94DO2ON3V400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-69</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_8S7BO39GHS00000000000000000000b">
<table cellpadding="0" style="height: 650px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Violeta Fundo de Investimento Multimercado </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_VioletaFundoDeInvestimentoMultimercadoMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3744" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_VioletaFundoDeInvestimentoMultimercadoMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3757" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest of Compass G&#225;s e Energia in its subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Companhia de G&#225;s de S&#227;o Paulo - Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompanhiaDeGasDeSaoPauloComgasMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5288" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.15</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CompanhiaDeGasDeSaoPauloComgasMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3693" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Comercializa&#231;&#227;o S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassComercializacaoSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3784" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CompassComercializacaoSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5361" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Energia Ltda </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassEnergiaLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3806" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CompassEnergiaLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6405" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Terminal de Regaseifica&#231;&#227;o de S&#227;o Paulo - TRSP </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TerminalDeRegaseificacaoDeSaoPauloTRSPMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3758" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_TerminalDeRegaseificacaoDeSaoPauloTRSPMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3780" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span> Rota 4 Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_Rota4ParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6774" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_Rota4ParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3789" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Edge II - Empresa de Gera&#231;&#227;o de Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_EdgeIIEmpresaDeGeracaoDeEnergiaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3770" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_EdgeIIEmpresaDeGeracaoDeEnergiaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6840" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest of Cosan Lubes Investments </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Limited in its subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove Lubricants Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveLubricantsLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3766" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_MooveLubricantsLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3752" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Cinco S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanCincoSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3718" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanCincoSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3697" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Airport Energy Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AirportEnergyLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6771" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AirportEnergyLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3767" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Airport Energy Services Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AirportEnergyServicesLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3717" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AirportEnergyServicesLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6833" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Wessesx Petroleum Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_WessesxPetroleumLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3738" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_WessesxPetroleumLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5322" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Stanbridge Group Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_StanbridgeGroupLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3748" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_StanbridgeGroupLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3759" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubricants Espa&#241;a S.L.U. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLubricantsEspanaSLUMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3742" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLubricantsEspanaSLUMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3762" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Techniques ET Technologies Appliquees SAS - TTA<span style="vertical-align: super; font-size: 8pt;"> (iv)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TTAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3764" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_TTAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6828" decimals="4" scale="-2" format="ixt:num-dot-decimal">75.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubrificantes S.R.L. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLubrificantesSRLMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3732" decimals="4" scale="-2" format="ixt:num-dot-decimal">98.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLubrificantesSRLMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5377" decimals="4" scale="-2" format="ixt:num-dot-decimal">98.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> LubrigrupoII&#8211; Com&#233;rcio e </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Distribui&#231;&#227;o de Lubrificantes S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LubrigrupoiiMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3786" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_LubrigrupoiiMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3802" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma Oil &amp; Chemicals Marketing SRL </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CommaOilAndChemicalsMarketingSRLMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3774" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CommaOilAndChemicalsMarketingSRLMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3754" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma Otomotiv Yag Ve Kimyasallari </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CommaOtomotivYagVeKimyasallariMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6834" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CommaOtomotivYagVeKimyasallariMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3799" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Pazarlama Limited Sirketi </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PazarlamaLimitedSirketiMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6836" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_PazarlamaLimitedSirketiMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3787" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma Oil &amp; Chemicals Marketing B.V. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CommaOilAndChemicalsMarketingBVMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5282" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CommaOilAndChemicalsMarketingBVMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3760" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Commercial Lubricants Moove Corp </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CommercialLubricantsMooveCorpMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5311" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CommercialLubricantsMooveCorpMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3756" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubrificantes e Especialidades S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLubrificanteseEspecialidadesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5280" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLubrificanteseEspecialidadesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3749" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan US, Inc. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanUSIncMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6770" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanUSIncMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3773" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ilha Terminal Distribui&#231;&#227;o de </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Produtos Derivados de Petr&#243;leo Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3805" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5349" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Zip Lube S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ZipLubeSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3694" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ZipLubeSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3746" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Paraguay S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanParaguaySAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3720" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanParaguaySAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3737" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div>
<div style="border-left: none; border-right: none;">
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</div>
</div>
<div>
<div>
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-70</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
</div>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_0RA48R2OK000000000000000000000b">
<table cellpadding="0" style="height: 599px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Interest of Rumo S.A. in its subsidiaries</span><span style="font-weight: bold; vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMalhaOesteSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3796" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoMalhaOesteSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3753" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMalhaPaulistaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6775" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoMalhaPaulistaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3810" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Sul S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMalhaSulSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3747" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoMalhaSulSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3730" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Norte S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMalhaNorteSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6842" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.74</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoMalhaNorteSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3765" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.40</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Central S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMalhaCentralSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3801" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoMalhaCentralSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3776" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Eleva&#231;&#245;es Portu&#225;rias S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ElevacoesPortuariasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3735" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ElevacoesPortuariasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5381" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Logispot Armaz&#233;ns Gerais S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3731" decimals="4" scale="-2" format="ixt:num-dot-decimal">51.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_LogispotArmazensGeraisSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3723" decimals="4" scale="-2" format="ixt:num-dot-decimal">14.52</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg <span style="color: black;">S.&#224; r.l. </span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoLuxembourgSarlMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3775" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoLuxembourgSarlMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3778" decimals="5" scale="-2" format="ixt:num-dot-decimal"> 28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Intermodal S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoIntermodalSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6776" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoIntermodalSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3771" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Boswells S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_BoswellsSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6407" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_BoswellsSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3712" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Argentina S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ALLArgentinaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3755" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ALLArgentinaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3783" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Paranagu&#225; S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ParanaguaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3791" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.90</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ParanaguaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3750" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Armaz&#233;ns Gerais Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ALLArmazensGeraisLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3781" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ALLArmazensGeraisLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3779" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Portofer Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PortoferLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6831" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_PortoferLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5408" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Mesopot&#226;mica S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ALLMesopotamicaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3711" decimals="4" scale="-2" format="ixt:num-dot-decimal">70.56</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ALLMesopotamicaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3763" decimals="4" scale="-2" format="ixt:num-dot-decimal">20.09</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Central S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ALLCentralSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6830" decimals="4" scale="-2" format="ixt:num-dot-decimal">73.55</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ALLCentralSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3710" decimals="6" scale="-2" format="ixt:num-dot-decimal"> 20.94 </ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Servicios de Inversi&#243;n Log&#237;stica Integrales S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ServiciosDeInversionLogisticaIntegralesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3692" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ServiciosDeInversionLogisticaIntegralesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3741" decimals="4" scale="-2" format="ixt:num-dot-decimal">28.47</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brado Log&#237;stica e Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_BradoLogisticaeParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3739" decimals="4" scale="-2" format="ixt:num-dot-decimal">77.65</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_BradoLogisticaeParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6839" decimals="4" scale="-2" format="ixt:num-dot-decimal">17.71</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brado Log&#237;stica S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_BradoLogisticaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3713" decimals="4" scale="-2" format="ixt:num-dot-decimal">77.65</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_BradoLogisticaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3795" decimals="4" scale="-2" format="ixt:num-dot-decimal">17.71</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest of Violeta Fundo de Investimento </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Multimercado in its subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Verde Pinho Fundo de Investimento em Participa&#231;&#245;es </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_VerdePinhoFundoDeInvestimentoEmParticipacoesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3790" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_VerdePinhoFundoDeInvestimentoEmParticipacoesMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3714" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6404" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RadarPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3798" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3743" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RadarIIPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3695" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Nova Agr&#237;cola Ponte Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_NovaAgricolaPonteAltaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3809" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_NovaAgricolaPonteAltaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3782" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Nova Amaralina S.A Propriedades Agr&#237;colas </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3785" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5342" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Nova Santa B&#225;rbara Agr&#237;cola S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6835" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3800" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Terras da Ponta Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TerrasDaPontaAltaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6843" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_TerrasDaPontaAltaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3808" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Castanheira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6403" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5357" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Manac&#225; Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6841" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3751" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Paineira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3794" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag3793" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<ix:exclude>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><br/></p>
<div>
<div>
<div style="border-left: none; border-right: none;">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-71</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</div>
</div>
</ix:exclude>
<div>
<div style="margin: 0 auto;">
<div>
<p><br/></p>
</div>
</div>
</div>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;</span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote7" continuedAt="c418f4b97-83c2-4fcd-ae44-72c0d21ca546"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">As describe in Note 2, the subsidiary Compass G&#225;s e Energia, </span></span><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">, entered into Investment Agreements that resulted in the dilution of the Company's interest. As of December 31, 2021, contributions were made to Compass for a total amount of R$</span></span><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_1" name="ifrs-full:IncreaseDecreaseThroughOtherContributionsByOwners" unitRef="BRL" id="Tag3772" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,250,015</ix:nonFraction></span><span style="border-right: none; border-left: none;">.</span></span></ix:footnote></span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify;"><ix:continuation id="c418f4b97-83c2-4fcd-ae44-72c0d21ca546"><span style="border-right: none; border-left: none;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The agreement signed with Atmos has a clause that grants Atmos the option to sell its shares in Compass and the Company is committed to pay any difference between Atmos selling price and the base price determined in the agreement. On December 31, 2021, the option had<ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember" name="ifrs-full:Provisions" unitRef="BRL" id="Tag3740" decimals="-3" scale="3" format="ixt-sec:numwordsen">no</ix:nonFraction> value since Compass' valuation exceeds the base price determined in the contract.</span></span></ix:continuation></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(ii)&#160;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote8" continuedAt="cfe57061a-99d7-4b80-bdfa-b0843b7caaaf"><span style="border-right: none; border-left: none;">Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiary. Despite presenting on December 31, 2021, the amount with an unsecured liability of R$ </span><span><ix:nonFraction contextRef="I20211231" name="csan:UnsecuredLiability" unitRef="BRL" id="Tag3745" decimals="-3" scale="3" format="ixt:num-dot-decimal">356,442</ix:nonFraction></span></ix:footnote><span style="border-right: none; border-left: none;"><ix:continuation id="cfe57061a-99d7-4b80-bdfa-b0843b7caaaf">, as shown below, no events or conditions were identified that, individually or collectively, could raise significant doubts as to the ability to maintain their continuity operational. The subsidiaries have the financial support of the Company</ix:continuation>.</span></span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iii)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; </span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote6">Changes in equity interest resulting from the Corporate Reorganization.</ix:footnote></span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iv)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; </span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote9"><span style="border-right: none; border-left: none;">In August 2021, Moove Lubricants Limited acquired </span><span><ix:nonFraction contextRef="I20210831_MooveLubricantsLimitedMember_TtaMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6423" decimals="2" scale="-2" format="ixt:num-dot-decimal">25</ix:nonFraction></span>% of the remaining interest. A cash consideration of R$<span><ix:nonFraction contextRef="I20210831_MooveLubricantsLimitedMember_TtaMember" name="ifrs-full:CashTransferred" unitRef="BRL" id="Tag3811" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,030</ix:nonFraction></span> was paid to the non-controlling shareholder.</ix:footnote></span></p>
</div>
</ix:nonNumeric>
</div>
</ix:nonNumeric>
</div>
</div><div id="Normadiv34" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="border-right: none; border-left: none;">
<div style="margin: 0 auto;">
<ix:continuation id="c35f7d99c-f69f-4b9e-bcc0-c872f217c9c0" continuedAt="ca83726ab-e785-4cfd-a353-993469178ed7">
<div>
<div style="margin: 0 auto;">
<div>
<div style="margin: 0 auto;">
<div id="t_ft_U7K94M3LEO00000000000000000000b">
<table style="margin-left: 0.1px; float: right; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 100%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatedCompaniesExplanatory" id="Tag6176" escape="true">
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Set out below are the associates as of December 31, 2021, which are material to the Company:</span></p>
<div id="t_ft_3HJQ0LUNXS00000000000000000000b">
<table cellpadding="0" style="height: 138px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-right: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares issued by the associate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares held by Cosan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan ownership interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Economic benefit (%) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 45%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5432" decimals="0" format="ixt:num-dot-decimal">120,920,515</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag5471" decimals="0" format="ixt:num-dot-decimal">61,359,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag5847" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.74</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag6891" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5543" decimals="0" format="ixt:num-dot-decimal">229,689,888</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag5685" decimals="0" format="ixt:num-dot-decimal">116,620,166</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag6276" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.77</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag5554" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">Rhall Terminais Ltda</td>
<td style="padding: 0px 0px 0px 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember_AssociatesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5774" decimals="0" format="ixt:num-dot-decimal">28,580</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember_AssociatesMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag5754" decimals="0" format="ixt:num-dot-decimal">8,574</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag5671" decimals="4" scale="-2" format="ixt:num-dot-decimal">30.00</ix:nonFraction>%</span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag5530" decimals="4" scale="-2" format="ixt:num-dot-decimal">30.00</ix:nonFraction>% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5472" decimals="0" format="ixt:num-dot-decimal">500,000</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag6134" decimals="0" format="ixt:num-dot-decimal">99,246</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag5704" decimals="4" scale="-2" format="ixt:num-dot-decimal">19.85</ix:nonFraction>% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag5589" decimals="4" scale="-2" format="ixt:num-dot-decimal">19.85</ix:nonFraction>% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">&#160;TGG - Terminal de Gran&#233;is do Guaruj&#225; S.A.</span> <br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5673" decimals="0" format="ixt:num-dot-decimal">79,747,000</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag5653" decimals="0" format="ixt:num-dot-decimal">7,914,609</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag6301" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.92</ix:nonFraction>% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag6298" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.92</ix:nonFraction>%</span> <br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; color: black;">&#160;Terminal XXXIX S.A.</span> <br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember_AssociatesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5932" decimals="0" format="ixt:num-dot-decimal">200,000</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember_AssociatesMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag5869" decimals="0" format="ixt:num-dot-decimal">99,246</ix:nonFraction> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember_AssociatesMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag6792" decimals="4" scale="-2" format="ixt:num-dot-decimal">49.62</ix:nonFraction>% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember_AssociatesMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag6285" decimals="4" scale="-2" format="ixt:num-dot-decimal">49.62</ix:nonFraction>%</span> <br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TUP Porto S&#227;o Luis S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5986" decimals="0" format="ixt:num-dot-decimal">42,635,878</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag5878" decimals="0" format="ixt:num-dot-decimal">20,891,583</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" unitRef="Pure" id="Tag5444" decimals="4" scale="-2" format="ixt:num-dot-decimal">49.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="csan:ProportionOfEconomicBenefits" unitRef="Pure" id="Tag5466" decimals="4" scale="-2" format="ixt:num-dot-decimal">49.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<ix:exclude>
<div>
<div>
<div id="t_ft_OGE2FS0GGG00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-72</span></td>
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</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
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<div>
<div style="margin: 0 auto;">
<div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<div>
<p><br/></p>
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<div style="margin: 0 auto;">
<div id="t_ft_4GA4Y0YODC00000000000000000000b">
<table cellpadding="0" style="height: 184px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2021 </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> <b><span style="color: black;">Business Combination</span></b> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 21%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5868" decimals="-3" scale="3" format="ixt:num-dot-decimal">105,665</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5465" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">39,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5606" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5627" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag6277" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; text-align: right; width: 8%;" class="ng-scope"><ix:nonFraction contextRef="D20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5732" xsi:nil="true"></ix:nonFraction> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5991" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_TellusBrasilParticipacoesSAMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5494" decimals="-3" scale="3" format="ixt:num-dot-decimal">142,798</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5503" decimals="-3" scale="3" format="ixt:num-dot-decimal">130,901</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5598" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">49,235</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5724" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5693" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,738</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5531" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,959</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5701" xsi:nil="true"></ix:nonFraction> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5881" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_JanusBrasilParticipacoesSAMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5935" decimals="-3" scale="3" format="ixt:num-dot-decimal">183,357</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5522" decimals="-3" scale="3" format="ixt:num-dot-decimal">62,371</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; font-family: 'times new roman', times;"><span> (<ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5515" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,688</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5660" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,060</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5590" decimals="-3" scale="3" format="ixt:num-dot-decimal">879</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag6000" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5697" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,565</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;">(<span><ix:nonFraction contextRef="I20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5670" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">41,299</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5921" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6320" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,204</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5689" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,751</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5830" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,553</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5753" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag1153" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5619" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">45,659</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag6291" decimals="-3" scale="3" format="ixt:num-dot-decimal">5</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5418" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">Rhall Terminais Ltda</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20201231_AssociatesMember_RhallTerminaisLtdaMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5681" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,765</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5492" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,145</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5923" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>(<ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5710" decimals="-3" scale="3" format="ixt:num-dot-decimal">3</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5902" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5977" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5729" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;" class="ng-scope"><ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5703" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,907</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; color: black;">&#160;Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A.</span> <br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20201231_AssociatesMember_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6138" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,673</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5806" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,810</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5719" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5545" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5534" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5447" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5854" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">758</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6270" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,725</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">&#160;TGG - Terminal de Gran&#233;is do Guaruj&#225; S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20201231_AssociatesMember_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5786" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,679</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5655" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,850</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5775" xsi:nil="true"></ix:nonFraction>&#8212;</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span>(<ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5552" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,966</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5816" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag6268" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5659" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5557" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,563</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; margin: 0pt; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Terminal XXXIX S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20201231_AssociatesMember_TerminalXXXIXSAMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6294" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,597</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5570" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,052</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5713" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5761" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5505" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5848" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span><ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5549" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,649</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TUP Porto S&#227;o Luis S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_TUPPortoSaoLuisSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6257" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#160; <ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5945" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">801</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5427" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5662" xsi:nil="true"></ix:nonFraction>&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5758" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">393,579</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5632" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5783" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember_TUPPortoSaoLuisSAMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5657" decimals="-3" scale="3" format="ixt:num-dot-decimal">394,380</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OtherInvestmentsMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5586" decimals="-3" scale="3" format="ixt:num-dot-decimal">996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5480" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">16,331</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5850" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,243</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5718" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5876" xsi:nil="true"></ix:nonFraction> &#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag6890" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">59,906</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_OtherInvestmentsMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5680" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,878</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OtherInvestmentsMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5542" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,688</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6260" decimals="-3" scale="3" format="ixt:num-dot-decimal">383,851</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5779" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">130,225</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5547" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,856</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5885" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,099</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5648" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">398,538</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_AssociatesMember" name="csan:IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" unitRef="BRL" id="Tag5859" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">125,130</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5412" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">174</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5609" decimals="-3" scale="3" format="ixt:num-dot-decimal">780,067</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_RLRN7884LC00000000000000000000b">
<table cellpadding="0" style="height: 118px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 31%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5608" decimals="-3" scale="3" format="ixt:num-dot-decimal">102,342</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5766" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,883</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6348" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6343" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,560</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5917" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5989" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_TellusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5770" decimals="-3" scale="3" format="ixt:num-dot-decimal">105,665</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5707" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,087</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5479" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,591</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5841" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5864" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,909</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5592" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,132</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5877" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_JanusBrasilParticipacoesSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5961" decimals="-3" scale="3" format="ixt:num-dot-decimal">130,901</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5840" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,860</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5468" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,512</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5453" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">232</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5818" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,233</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5658" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag6143" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RadarPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6894" decimals="-3" scale="3" format="ixt:num-dot-decimal">62,371</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6330" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6331" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,747</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5435" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">45</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6309" decimals="-3" scale="3" format="ixt:num-dot-decimal">563</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5630" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5621" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RadarIIPropriedadesAgricolasSAMember_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6311" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,204</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_AssociatesMember_OtherInvestmentMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5487" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,443</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember_OtherInvestmentMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5449" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,068</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_AssociatesMember_OtherInvestmentMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5861" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_AssociatesMember_OtherInvestmentMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5572" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,187</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember_OtherInvestmentMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5513" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_AssociatesMember_OtherInvestmentMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag5788" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,587</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AssociatesMember_OtherInvestmentMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6314" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5425" decimals="-3" scale="3" format="ixt:num-dot-decimal">377,707</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5726" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">28,801</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember" name="csan:ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag5622" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">240</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_AssociatesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6292" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,452</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_AssociatesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5529" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,142</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_AssociatesMember" name="csan:OtherTransactionsInAssociates" unitRef="BRL" id="Tag6333" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,587</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_AssociatesMember" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6302" decimals="-3" scale="3" format="ixt:num-dot-decimal">383,851</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfReconciliationOfSummarisedFinancialInformationOfAssociateAccountedForUsingEquityMethodToCarryingAmountOfInterestInAssociateExplanatory" id="Tag6075" escape="true">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial information of associates:</span></p>
<div id="t_ft_VI1ZG6UGU800000000000000000000b">
<table cellpadding="0" style="height: 159px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="13" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td colspan="11" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Profit in the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Profit in the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 21px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es Ltda </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TellusBrasilParticipacoesSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5910" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,296,499</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_TellusBrasilParticipacoesSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5831" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,734</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TellusBrasilParticipacoesSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6267" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,793,765</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TellusBrasilParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5448" decimals="-3" scale="3" format="ixt:num-dot-decimal">782,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_TellusBrasilParticipacoesSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5636" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,137,559</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_TellusBrasilParticipacoesSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag6350" decimals="-3" scale="3" format="ixt:num-dot-decimal">136,375</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_TellusBrasilParticipacoesSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5789" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,001,184</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_TellusBrasilParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5725" decimals="-3" scale="3" format="ixt:num-dot-decimal">91,431</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_JanusBrasilParticipacoesSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5908" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,261,432</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_JanusBrasilParticipacoesSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5536" decimals="-3" scale="3" format="ixt:num-dot-decimal">666,361</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_JanusBrasilParticipacoesSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5691" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,595,071</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_JanusBrasilParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5688" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,048,514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_JanusBrasilParticipacoesSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag6259" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,632,321</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_JanusBrasilParticipacoesSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5540" decimals="-3" scale="3" format="ixt:num-dot-decimal">160,167</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_JanusBrasilParticipacoesSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5756" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,472,154</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_JanusBrasilParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5626" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,652</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; margin: 0pt; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;Rhall Terminais Ltda </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5769" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,068</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span><ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5573" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,708</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_RhallTerminaisLtdaMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5994" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,360</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RhallTerminaisLtdaMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag6341" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,073</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="I20201231_RhallTerminaisLtdaMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5484" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_RhallTerminaisLtdaMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5692" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_RhallTerminaisLtdaMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5857" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="D20201231_RhallTerminaisLtdaMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5473" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag6321" decimals="-3" scale="3" format="ixt:num-dot-decimal">276,284</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span><ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5996" decimals="-3" scale="3" format="ixt:num-dot-decimal">252,483</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5931" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,801</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5686" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,726</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="I20201231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5963" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5866" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6349" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="D20201231_TermagTerminalMaritimoDeGuarujaSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5951" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;TGG - Terminal de Gran&#233;is do Guaruj&#225; S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5583" decimals="-3" scale="3" format="ixt:num-dot-decimal">253,310</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span><ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5901" decimals="-3" scale="3" format="ixt:num-dot-decimal">76,257</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5833" decimals="-3" scale="3" format="ixt:num-dot-decimal">177,053</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5612" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,150</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="I20201231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5678" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5663" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6001" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="D20201231_TGGTerminalDeGraneisDoGuarujaSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5526" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Terminal XXXIX S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag6146" decimals="-3" scale="3" format="ixt:num-dot-decimal">335,511</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span><ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5507" decimals="-3" scale="3" format="ixt:num-dot-decimal">273,747</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_TerminalXXXIXSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5521" decimals="-3" scale="3" format="ixt:num-dot-decimal">61,764</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_TerminalXXXIXSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5973" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,075</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="I20201231_TerminalXXXIXSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag6324" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_TerminalXXXIXSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5638" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20201231_TerminalXXXIXSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5867" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="D20201231_TerminalXXXIXSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5767" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TUP Porto S&#227;o Luis S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TUPPortoSaoLuisSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag6142" decimals="-3" scale="3" format="ixt:num-dot-decimal">455,437</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_TUPPortoSaoLuisSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5914" decimals="-3" scale="3" format="ixt:num-dot-decimal">67,523</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TUPPortoSaoLuisSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5564" decimals="-3" scale="3" format="ixt:num-dot-decimal">387,914</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_TUPPortoSaoLuisSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5730" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_TUPPortoSaoLuisSAMember" name="ifrs-full:Assets" unitRef="BRL" id="Tag5602" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_TUPPortoSaoLuisSAMember" name="ifrs-full:Liabilities" unitRef="BRL" id="Tag5895" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_TUPPortoSaoLuisSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5687" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_TUPPortoSaoLuisSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5607" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
<div>
<div id="t_ft_RDQ89SQSUO00000000000000000000b">
<ix:exclude>
<div>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-73</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Notes to the consolidated financial statements</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">, </span><span style="font-style: italic;">unless otherwise stated</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</ix:exclude>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>9.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="font-weight: bold;">Non-controlling interests in subsidiaries</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions &#8211; that is, as transactions with the owners in their capacity as owners.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfNonControllingInterestInConsolidatedSubsidiariesExplanatory" id="Tag6359" escape="true">
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Set out below is summarized financial information for each subsidiary that has non-controlling interests that are material to the group. The amounts disclosed for each subsidiary are before inter-company elimination.</span></p>
<div id="t_ft_4CVN25TSOG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 334px; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares issued by the subsidiary </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares held by non-controlling shareholders </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-controlling interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5482" decimals="0" format="ixt:num-dot-decimal">714,190,095</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5871" decimals="0" format="ixt:num-dot-decimal">85,702,404</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5937" decimals="4" scale="-2" format="ixt:num-dot-decimal">12.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5706" decimals="0" format="ixt:num-dot-decimal">132,520,587</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5683" decimals="0" format="ixt:num-dot-decimal">1,139,210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5922" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.86</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubes </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanLubesInvestmentsLimitedMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6308" decimals="0" format="ixt:num-dot-decimal">34,963,764</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanLubesInvestmentsLimitedMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5803" decimals="0" format="ixt:num-dot-decimal">10,489,129</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLubesInvestmentsLimitedMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5434" decimals="4" scale="-2" format="ixt:num-dot-decimal">30.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payly Solu&#231;&#245;es de Pagamentos S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_PaylyMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5610" decimals="0" format="ixt:num-dot-decimal">78,527,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_PaylyMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5828" decimals="0" format="ixt:num-dot-decimal">19,631,324</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PaylyMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5486" decimals="4" scale="-2" format="ixt:num-dot-decimal">25.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5550" decimals="0" format="ixt:num-dot-decimal">1,854,158,791</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag6281" decimals="0" format="ixt:num-dot-decimal">1,291,629,301</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5463" decimals="4" scale="-2" format="ixt:num-dot-decimal">69.65</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Limited Partners Brasil Consultoria Ltda </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanLimitedPartnersBrasilConsultoriaLtdaMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5836" decimals="0" format="ixt:num-dot-decimal">160,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanLimitedPartnersBrasilConsultoriaLtdaMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5842" decimals="0" format="ixt:num-dot-decimal">4,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLimitedPartnersBrasilConsultoriaLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5439" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sinlog Tecnologia em Log&#237;stica S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SinlogTecnologiaEmLogisticaSaMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5639" decimals="0" format="ixt:num-dot-decimal">86,370</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SinlogTecnologiaEmLogisticaSaMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5823" decimals="0" format="ixt:num-dot-decimal">23,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SinlogTecnologiaEmLogisticaSaMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5558" decimals="4" scale="-2" format="ixt:num-dot-decimal">27.75</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">TTA &#8211; SAS Techniques et Technologie Appliqu&#233;es<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; 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;"><span> <ix:nonFraction contextRef="I20211231_TtaMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5943" decimals="0" format="ixt:num-dot-decimal">10,521</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; 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;"><span><ix:nonFraction contextRef="I20211231_TtaMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5799" xsi:nil="true"></ix:nonFraction> - </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; 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;"><span><ix:nonFraction contextRef="D20211231_TtaMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5791" xsi:nil="true"></ix:nonFraction> - </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RadarIIPropriedadesAgricolasSAMember_3" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5647" decimals="0" format="ixt:num-dot-decimal">81,440,221</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RadarIIPropriedadesAgricolasSAMember_3" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag6315" decimals="0" format="ixt:num-dot-decimal">40,720,111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarIIPropriedadesAgricolasSAMember_3" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag6895" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RadarPropriedadesAgricolasSAMember_3" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5728" decimals="0" format="ixt:num-dot-decimal">1,266,986</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RadarPropriedadesAgricolasSAMember_3" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5814" decimals="0" format="ixt:num-dot-decimal">633,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RadarPropriedadesAgricolasSAMember_3" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5954" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Agr&#237;cola Ponte Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NovaAgricolaPonteAltaSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5454" decimals="0" format="ixt:num-dot-decimal">160,693,378</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NovaAgricolaPonteAltaSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag6275" decimals="0" format="ixt:num-dot-decimal">80,346,689</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_NovaAgricolaPonteAltaSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5629" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Terras da Ponte Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TerrasDaPontaAltaSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5533" decimals="0" format="ixt:num-dot-decimal">16,066,329</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_TerrasDaPontaAltaSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5446" decimals="0" format="ixt:num-dot-decimal">8,033,165</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_TerrasDaPontaAltaSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5795" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Santa B&#225;rbara Agr&#237;cola S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5737" decimals="0" format="ixt:num-dot-decimal">32,336,994</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NovaSantaBarbaraAgricolaSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag6344" decimals="0" format="ixt:num-dot-decimal">16,168,497</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_NovaSantaBarbaraAgricolaSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5715" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Amaralina S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5646" decimals="0" format="ixt:num-dot-decimal">30,603,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_NovaAmaralinaSAPropriedadesAgricolasMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag6295" decimals="0" format="ixt:num-dot-decimal">15,301,580</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_NovaAmaralinaSAPropriedadesAgricolasMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5906" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Paineira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5740" decimals="0" format="ixt:num-dot-decimal">132,667,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_PaineiraPropriedadesAgricolasSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5467" decimals="0" format="ixt:num-dot-decimal">66,333,531</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_PaineiraPropriedadesAgricolasSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag6136" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Manac&#225; Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6887" decimals="0" format="ixt:num-dot-decimal">128,977,921</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ManacaPropriedadesAgricolasSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5511" decimals="0" format="ixt:num-dot-decimal">64,488,961</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ManacaPropriedadesAgricolasSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5464" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Castanheira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag5982" decimals="0" format="ixt:num-dot-decimal">83,850,838</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CastanheiraPropriedadesAgricolasSAMember" name="csan:SharesHeldByNoncontrollingShareholders" unitRef="Shares" id="Tag5421" decimals="0" format="ixt:num-dot-decimal">41,925,419</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CastanheiraPropriedadesAgricolasSAMember_1" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag5812" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the information relating to each of the Company&#8217;s subsidiaries that has material non-controlling interests, before any intra-group elimination.</span></p>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<ix:exclude>
<div>
<div>
<div id="t_ft_A9YNCNYQ4000000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-74</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Notes to the consolidated financial statements</span></p>
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic;">(In thousands of Brazilian reais - R$</span><span style="font-style: italic;">, </span><span style="font-style: italic;">unless otherwise stated</span><span style="font-style: italic;">)</span></span></p>
<p style="margin: 0pt; text-align: right;"><br/></p>
</div>
</div>
</ix:exclude>
<div id="t_ft_FKMWGOLAPC00000000000000000000b">
<table cellpadding="0" style="height: 229px; border-collapse: collapse; margin-left: 3.6px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 56px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 56px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sales or purchase of interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase (decrease) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px; border-bottom: 1px solid #000000; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; border-bottom-color: #000000; border-bottom-width: 0.5pt;"> <b><span>Predecessor adjustments</span></b> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 20%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5451" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,492,829</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag279" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,890</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanSAMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5517" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5975" decimals="-3" scale="3" format="ixt:num-dot-decimal">115,049</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanSAMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5509" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5939" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CosanSAMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5578" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,023</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right; width: 7%;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_CosanSAMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5872" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,448,693</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5661" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Log&#237;stica </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6137" decimals="-3" scale="3" format="ixt:num-dot-decimal">658,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5675" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLogisticaMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5524" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanLogisticaMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5970" decimals="-3" scale="3" format="ixt:num-dot-decimal">358</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5555" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5664" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CosanLogisticaMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6318" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_CosanLogisticaMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag6300" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">663,414</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6356" xsi:nil="true"></ix:nonFraction>&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5941" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5882" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_ComgasMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag6283" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5485" decimals="-3" scale="3" format="ixt:num-dot-decimal">625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5768" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,184</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_ComgasMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5992" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5553" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">228</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_ComgasMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5781" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5640" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,466</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6280" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5912" decimals="-3" scale="3" format="ixt:num-dot-decimal">74,390</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag6323" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,505,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5948" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,698</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5614" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,187</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag6261" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,250,015</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5950" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag6273" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5849" decimals="-3" scale="3" format="ixt:num-dot-decimal">761,432</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CLI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6352" decimals="-3" scale="3" format="ixt:num-dot-decimal">582,284</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5741" decimals="-3" scale="3" format="ixt:num-dot-decimal">87,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CliMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag1959" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5974" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CliMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5599" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CliMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5904" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CliMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5843" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_CliMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5880" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5862" decimals="-3" scale="3" format="ixt:num-dot-decimal">683,144</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5616" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,709,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5504" decimals="-3" scale="3" format="ixt:num-dot-decimal">107,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5722" decimals="-3" scale="3" format="ixt:num-dot-decimal">318,323</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5488" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,358</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5870" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,989</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RumoMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5539" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_RumoMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5512" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,748</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RumoMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5461" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,570</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5749" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,494,071</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Logispot Armaz&#233;ns Gerais S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5711" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,513</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5510" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,225</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5496" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5981" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5930" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,032</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5561" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5886" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5762" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5596" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,706</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">Radar</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RadarMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5490" xsi:nil="true"></ix:nonFraction>&#8212;</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RadarMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5577" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,502</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RadarMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5860" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RadarMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5879" decimals="-3" scale="3" format="ixt:num-dot-decimal">900</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_RadarMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5643" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,854</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RadarMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5617" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_RadarMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5562" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">54</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_RadarMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5431" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="I20211231_RadarMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag1152" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,119,102</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5699" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag6317" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,622</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5717" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,918</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5855" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,013</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5924" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,662</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5674" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OtherInvestmentsMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5978" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">363</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;" class="ng-scope"><ix:nonFraction contextRef="D20211231_OtherInvestmentsMember_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5760" decimals="-3" scale="3" format="ixt:num-dot-decimal">351</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5495" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,164</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6299" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,558,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5933" decimals="-3" scale="3" format="ixt:num-dot-decimal">384,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5822" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,835,552</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5611" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,086</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6351" decimals="-3" scale="3" format="ixt:num-dot-decimal">164,908</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag6256" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,252,306</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5682" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,131,407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; text-align: right;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_SubsidiariesMember" name="csan:IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" unitRef="BRL" id="Tag5874" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,109,186</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5656" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,129,085</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_TSXQP6KEV400000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 3.6px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 217px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sales or purchase of interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase (decrease) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 29%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CosanSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6274" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,604,875</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5798" decimals="-3" scale="3" format="ixt:num-dot-decimal">336,885</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanSAMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5525" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">407,177</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanSAMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag6284" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,573</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanSAMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5500" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,120</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5968" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CosanSAMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6201" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,207</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5858" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,492,829</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Log&#237;stica </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5679" decimals="-3" scale="3" format="ixt:num-dot-decimal">630,185</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5546" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLogisticaMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5934" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,006</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanLogisticaMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5493" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,006</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5952" decimals="-3" scale="3" format="ixt:num-dot-decimal">5</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5666" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanLogisticaMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6271" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CosanLogisticaMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5896" decimals="-3" scale="3" format="ixt:num-dot-decimal">658,158</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_ComgasMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6279" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,569</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5457" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,200</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ComgasMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5794" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5985" decimals="-3" scale="3" format="ixt:num-dot-decimal">484</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_ComgasMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5649" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,535</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ComgasMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5736" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5633" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6342" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20191231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5437" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5852" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5747" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,431</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5966" decimals="-3" scale="3" format="ixt:num-dot-decimal">552</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5460" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,986</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5569" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6328" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">35</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5520" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CLI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CliMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5702" decimals="-3" scale="3" format="ixt:num-dot-decimal">470,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5947" decimals="-3" scale="3" format="ixt:num-dot-decimal">44,816</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CliMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5700" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5898" decimals="-3" scale="3" format="ixt:num-dot-decimal">66,970</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CliMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5944" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CliMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5964" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CliMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6322" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5631" decimals="-3" scale="3" format="ixt:num-dot-decimal">582,284</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_RumoMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5498" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,058,973</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5777" decimals="-3" scale="3" format="ixt:num-dot-decimal">212,463</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5705" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,424,537</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag6269" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,786</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_RumoMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6883" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5506" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_RumoMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6278" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5888" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,709,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Logispot Armaz&#233;ns Gerais S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag6319" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,218</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5771" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,879</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5999" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag6202" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6286" decimals="-3" scale="3" format="ixt:num-dot-decimal">584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5695" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5581" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_LogispotArmazensGeraisSAMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5580" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,513</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5445" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag6306" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,755</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_OtherInvestmentsMember_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5535" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OtherInvestmentsMember_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5813" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,160</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag6339" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,566</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5567" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OtherInvestmentsMember_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag6307" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_OtherInvestmentsMember_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5574" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5527" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,838,616</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners" unitRef="BRL" id="Tag5489" decimals="-3" scale="3" format="ixt:num-dot-decimal">628,812</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SubsidiariesMember" name="csan:SalesOrPurchaseOfInterestsInNoncontrollingInterests" unitRef="BRL" id="Tag5415" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,061,797</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SubsidiariesMember" name="csan:OtherComprehensiveIncomeLoss" unitRef="BRL" id="Tag5528" decimals="-3" scale="3" format="ixt:num-dot-decimal">119,531</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_SubsidiariesMember" name="ifrs-full:DividendsPaidToNoncontrollingInterests" unitRef="BRL" id="Tag5782" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,538</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_SubsidiariesMember" name="ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings" unitRef="BRL" id="Tag5956" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,666</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_SubsidiariesMember" name="csan:OtherTransactions" unitRef="BRL" id="Tag5440" decimals="-3" scale="3" format="ixt:num-dot-decimal">100</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_SubsidiariesMember" name="ifrs-full:NoncontrollingInterests" unitRef="BRL" id="Tag5595" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,558,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfConsolidatedAndSeparateFinancialStatementsExplanatory" id="Tag7005" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Summarized statement of financial position:</span></p>
</div>
<div>
<ix:exclude>
<div>
<div id="t_ft_HEQUIBPDMO00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-75</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="text-align: justify;"><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_5IV1LP1T7K00000000000000000000b">
<table cellpadding="0" style="height: 199px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;" colspan="4">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="6">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="6">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> CLI </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="5">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="6">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investimentos </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 11%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5808" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,929,639</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5734" decimals="-3" scale="3" format="ixt:num-dot-decimal">402,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5918" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,148,735</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5942" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,225,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5938" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,327,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5477" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,047,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag6304" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,161,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5751" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,996,914</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5452" decimals="-3" scale="3" format="ixt:num-dot-decimal">147,662</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CurrentAssets" unitRef="BRL" id="Tag5568" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5483" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,374</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag6282" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,404</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5541" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,538,385</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5907" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,610,144</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5780" decimals="-3" scale="3" format="ixt:num-dot-decimal">755,995</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5909" decimals="-3" scale="3" format="ixt:num-dot-decimal">616,427</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5853" decimals="-3" scale="3" format="ixt:num-dot-decimal">760,522</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5676" decimals="-3" scale="3" format="ixt:num-dot-decimal">841,519</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5983" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,038</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CurrentLiabilities" unitRef="BRL" id="Tag5720" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5593" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,901,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5928" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">376,603</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5984" decimals="-3" scale="3" format="ixt:num-dot-decimal">389,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5422" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">615,644</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5566" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">571,477</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5450" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">431,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5887" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">400,505</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5863" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,155,395</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5804" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">97,624</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CurrentAssetsLiabilities" unitRef="BRL" id="Tag5597" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5604" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,453,679</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5677" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,944,593</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5826" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,122,763</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag6353" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,391,096</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5846" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,946,181</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5441" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,893,901</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag6340" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,568,088</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5936" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,624,672</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag5865" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,337,142</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:NoncurrentAssets" unitRef="BRL" id="Tag6325" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5829" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,296</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag6288" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5470" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,627,895</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5967" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,416,687</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag280" decimals="-3" scale="3" format="ixt:num-dot-decimal">229,802</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5962" decimals="-3" scale="3" format="ixt:num-dot-decimal">360,077</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5409" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,173,172</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5990" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,796,462</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5714" decimals="-3" scale="3" format="ixt:num-dot-decimal">196,562</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:NoncurrentLiabilities" unitRef="BRL" id="Tag5776" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5429" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,443,383</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5926" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,944,593</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_7" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5436" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,494,868</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231_ComgasMember_3" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5927" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,591</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5708" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,716,379</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5594" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,533,824</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag6289" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,394,916</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5694" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,828,210</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5980" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,140,580</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="csan:NoncurrentAssetsLiabilities" unitRef="BRL" id="Tag5765" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:Equity" unitRef="BRL" id="Tag6358" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,344,648</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5913" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,321,196</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:Equity" unitRef="BRL" id="Tag5455" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,105,218</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:Equity" unitRef="BRL" id="Tag6336" decimals="-3" scale="3" format="ixt:num-dot-decimal">590,035</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5623" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,287,856</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5735" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,965,335</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:Equity" unitRef="BRL" id="Tag6310" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,795,421</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:Equity" unitRef="BRL" id="Tag5800" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,983,605</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5582" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,238,204</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag5965" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 178.3pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Summarized statement of profit or loss and other comprehensive income:</span></p>
<div id="t_ft_TNBRFZ39Y800000000000000000000b">
<table cellpadding="0" style="height: 188px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="8">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="10">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;" colspan="10">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> CLI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 29px;" rowspan="2"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;" rowspan="2"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 19px;"></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 10px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 19%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5733" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5835" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5563" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5805" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,709,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5897" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,317,691</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5516" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,514,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5430" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,608,680</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5723" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,911,541</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5929" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,746,727</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff; width: 1%;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit before taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag6886" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,710,947</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5972" decimals="-3" scale="3" format="ixt:num-dot-decimal">920,426</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5817" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,614</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5600" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,274,269</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5801" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,719,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5560" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,993,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5819" decimals="-3" scale="3" format="ixt:num-dot-decimal">310,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5419" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,930</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5953" decimals="-3" scale="3" format="ixt:num-dot-decimal">74,982</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5911" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,164</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5748" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag6141" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag6345" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,148</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5442" decimals="-3" scale="3" format="ixt:num-dot-decimal">569,264</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5949" decimals="-3" scale="3" format="ixt:num-dot-decimal">626,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag1151" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5579" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,484</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5856" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,175</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">)</td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit (loss) for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5811" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,725,111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag6312" decimals="-3" scale="3" format="ixt:num-dot-decimal">931,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5998" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,725</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5651" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,119,121</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5628" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,150,613</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5802" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,367,179</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5650" decimals="-3" scale="3" format="ixt:num-dot-decimal">294,758</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5544" decimals="-3" scale="3" format="ixt:num-dot-decimal">149,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5712" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,807</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 19px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag6313" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5635" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5905" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5997" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5474" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5820" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5438" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5481" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5824" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5613" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,725,111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5458" decimals="-3" scale="3" format="ixt:num-dot-decimal">931,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5969" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,725</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5548" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,119,121</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5721" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,150,613</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5456" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,367,179</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5742" decimals="-3" scale="3" format="ixt:num-dot-decimal">294,758</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag6135" decimals="-3" scale="3" format="ixt:num-dot-decimal">149,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5585" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,807</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 20px;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><br/></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comprehensive income attributable&#160;to non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5915" decimals="-3" scale="3" format="ixt:num-dot-decimal">207,012</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5537" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5698" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;" colspan="2">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5889" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,217</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5993" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,762</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5601" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,967</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5873" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,427</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5696" decimals="-3" scale="3" format="ixt:num-dot-decimal">44,834</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5642" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,942</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 10px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends paid </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5652" decimals="-3" scale="3" format="ixt:num-dot-decimal">982,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5605" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag6332" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5890" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,649,653</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5645" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,135,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5851" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,010,101</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5443" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5588" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag6354" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff;"></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div>
<div id="t_ft_YOAYQYS8W000000000000000000000b">
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-76</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div>
<div style="margin: 0 auto;">
<div>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/><i></i></p>
</div>
</div>
</div>
</ix:exclude>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_THUN9Q6ZBK00000000000000000000b">
<table cellpadding="0" style="height: 219px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 49.1571%;" colspan="10">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 88.1021%;" colspan="10">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 40%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 7.95812%;">
<p style="border-bottom-color: #000000; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; width: 1.04712%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5690" decimals="-3" scale="3" format="ixt:num-dot-decimal">772,714</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5424" decimals="-3" scale="3" format="ixt:num-dot-decimal">950,269</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5900" decimals="-3" scale="3" format="ixt:num-dot-decimal">596,415</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5883" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5584" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:Revenue" unitRef="BRL" id="Tag5476" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit before taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5919" decimals="-3" scale="3" format="ixt:num-dot-decimal">198,239</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag6329" decimals="-3" scale="3" format="ixt:num-dot-decimal">349,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag6327" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,228</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag5958" decimals="-3" scale="3" format="ixt:num-dot-decimal">49,218</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag6297" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag6326" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; width: 1.04712%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag6357" decimals="-3" scale="3" format="ixt:num-dot-decimal">47,701</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5637" decimals="-3" scale="3" format="ixt:num-dot-decimal">52,137</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5834" decimals="-3" scale="3" format="ixt:num-dot-decimal">991</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5894" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,215</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5960" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag5790" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit (loss) for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5837" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,538</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5793" decimals="-3" scale="3" format="ixt:num-dot-decimal">297,163</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5764" decimals="-3" scale="3" format="ixt:num-dot-decimal">778,237</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5727" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,003</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5502" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag5739" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 19px; padding: 0px; width: 1.04712%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag6272" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5518" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5669" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5641" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag117" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag5603" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5979" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,538</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5618" decimals="-3" scale="3" format="ixt:num-dot-decimal">297,163</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 7.95812%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag6147" decimals="-3" scale="3" format="ixt:num-dot-decimal">780,953</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag6139" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,003</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5763" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ComprehensiveIncome" unitRef="BRL" id="Tag5266" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 20px; padding: 0px; width: 1.04712%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 47.9503%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 40%;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Comprehensive income attributable</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.99215%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 27.9712%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95812%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.99215%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 27.9712%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 47.9503%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 17px; padding: 0px; width: 1.04712%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> to non-controlling interests </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5615" decimals="-3" scale="3" format="ixt:num-dot-decimal">104,850</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag6893" decimals="-3" scale="3" format="ixt:num-dot-decimal">212,561</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5591" decimals="-3" scale="3" format="ixt:num-dot-decimal">558,616</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5428" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag5459" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests" unitRef="BRL" id="Tag6290" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends paid </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5750" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag6337" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5752" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,233</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5988" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag5797" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:DividendsPaid" unitRef="BRL" id="Tag6355" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; width: 1.04712%;"></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Summarized statements of cash flows:</span></p>
<div id="t_ft_7T040BEAUO00000000000000000000b">
<table cellpadding="0" style="height: 177px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;" colspan="7">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;" colspan="7">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;" colspan="8">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> CLI </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 19%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from operating activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag6287" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">44,974</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5903" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">18,046</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5940" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5957" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,539,222</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5413" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,111,551</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5787" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,512,303</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5807" decimals="-3" scale="3" format="ixt:num-dot-decimal">95,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5499" decimals="-3" scale="3" format="ixt:num-dot-decimal">71,654</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5815" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,946</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash from (used in) investing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5433" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">26,764</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5556" decimals="-3" scale="3" format="ixt:num-dot-decimal">776,872</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag6296" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag1342" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,025,104</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5462" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,768,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5508" decimals="-3" scale="3" format="ixt:num-dot-decimal">202,037</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5414" decimals="-3" scale="3" format="ixt:num-dot-decimal">77,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5825" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">38,910</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5759" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from financing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5538" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,265,679</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5716" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">525,030</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag6338" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5995" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,202,275</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag6347" decimals="-3" scale="3" format="ixt:num-dot-decimal">198,890</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag6144" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,233,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag6303" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,766</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5417" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,874</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5469" decimals="-3" scale="3" format="ixt:num-dot-decimal">291,898</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net increase (decrease) in&#160;cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5832" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,193,941</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5784" decimals="-3" scale="3" format="ixt:num-dot-decimal">233,796</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5491" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5576" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">688,157</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5625" decimals="-3" scale="3" format="ixt:num-dot-decimal">542,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5845" decimals="-3" scale="3" format="ixt:num-dot-decimal">480,792</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5731" decimals="-3" scale="3" format="ixt:num-dot-decimal">159,437</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5709" decimals="-3" scale="3" format="ixt:num-dot-decimal">47,618</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5684" decimals="-3" scale="3" format="ixt:num-dot-decimal">364,704</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents at beginning of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5668" decimals="-3" scale="3" format="ixt:num-dot-decimal">232,819</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CompassGasEEnergiaSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5410" decimals="-3" scale="3" format="ixt:num-dot-decimal">5</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20181231_CompassGasEEnergiaSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5987" decimals="-3" scale="3" format="ixt:num-dot-decimal">5</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5755" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,610,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_ComgasMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5844" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,083,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20181231_ComgasMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5946" decimals="-3" scale="3" format="ixt:num-dot-decimal">602,618</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5773" decimals="-3" scale="3" format="ixt:num-dot-decimal">492,619</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CliMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5620" decimals="-3" scale="3" format="ixt:num-dot-decimal">319,733</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20181231_CliMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5785" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">Effect of exchange rate fluctuations on cash held</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;" class="ng-scope">(<ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag6140" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,898</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;" class="ng-scope">(<ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_3" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5634" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">982</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;" class="ng-scope"><ix:nonFraction contextRef="D20191231_CompassGasEEnergiaSAMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5268" xsi:nil="true"></ix:nonFraction> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: right;" colspan="2" class="ng-scope">(<ix:nonFraction contextRef="D20211231_ComgasMember_13" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5420" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">30,741</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;" class="ng-scope">(<ix:nonFraction contextRef="D20201231_ComgasMember_3" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag6316" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,005</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;" class="ng-scope"><ix:nonFraction contextRef="D20191231_ComgasMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5796" xsi:nil="true"></ix:nonFraction> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;" colspan="2" class="ng-scope"><ix:nonFraction contextRef="D20211231_CliMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5971" decimals="-3" scale="3" format="ixt:num-dot-decimal">109,642</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: right;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CliMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5899" decimals="-3" scale="3" format="ixt:num-dot-decimal">125,268 </ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: right;">
<p style="margin: 0pt; text-align: right;"><span>(<ix:nonFraction contextRef="D20191231_CliMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag6258" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">44,971 </ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash and cash equivalents at end of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_4" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5792" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,412,862</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CompassGasEEnergiaSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag6884" decimals="-3" scale="3" format="ixt:num-dot-decimal">232,819</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CompassGasEEnergiaSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5821" decimals="-3" scale="3" format="ixt:num-dot-decimal">5</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_7" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag6346" decimals="-3" scale="3" format="ixt:num-dot-decimal">891,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_ComgasMember_3" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5892" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,610,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_ComgasMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5423" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,083,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CliMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5565" decimals="-3" scale="3" format="ixt:num-dot-decimal">761,698</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_CliMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag6145" decimals="-3" scale="3" format="ixt:num-dot-decimal">492,619</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_CliMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5772" decimals="-3" scale="3" format="ixt:num-dot-decimal">319,733</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_U5FT79D98G00000000000000000000b">
<table cellpadding="0" style="height: 157px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 33.995%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 81.8703%;" colspan="8">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investiments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 27.9156%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 27.9156%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from operating activities&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5523" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,679</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5891" decimals="-3" scale="3" format="ixt:num-dot-decimal">463,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5644" decimals="-3" scale="3" format="ixt:num-dot-decimal">197,313</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5624" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 10.0496%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5587" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 57.9249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" unitRef="BRL" id="Tag5416" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.24069%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.11663%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash from (used in) investing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5559" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,469,750</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5501" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,632,353</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5497" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">929,861</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5514" decimals="-3" scale="3" format="ixt:num-dot-decimal">49,227</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5809" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 57.9249%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" unitRef="BRL" id="Tag5839" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from financing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5838" decimals="-3" scale="3" format="ixt:num-dot-decimal">714,115</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5955" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,037,144</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5667" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,432,659</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5575" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5654" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" unitRef="BRL" id="Tag5426" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net increase (decrease) in&#160;cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5757" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">771,314</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5532" decimals="-3" scale="3" format="ixt:num-dot-decimal">867,961</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5827" decimals="-3" scale="3" format="ixt:num-dot-decimal">700,111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5411" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5571" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; width: 57.9249%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" unitRef="BRL" id="Tag5959" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents at beginning of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5672" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,568,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_RumoSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5884" decimals="-3" scale="3" format="ixt:num-dot-decimal">700,706</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20181231_RumoSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5475" decimals="-3" scale="3" format="ixt:num-dot-decimal">595</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5478" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5893" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20181231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5875" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 27.9156%;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Effect of exchange rate fluctuations on cash held</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 9.92556%;">(<ix:nonFraction contextRef="D20211231_RumoSAMember_17" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5665" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,551</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10.0496%;"><ix:nonFraction contextRef="D20201231_RumoSAMember_5" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag6305" xsi:nil="true"></ix:nonFraction>&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10.0496%;"><ix:nonFraction contextRef="D20191231_RumoSAMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5551" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 9.92556%;"><ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5976" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; width: 10.0496%;"><ix:nonFraction contextRef="D20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5267" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; width: 57.9249%;" colspan="2"><ix:nonFraction contextRef="D20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" unitRef="BRL" id="Tag5810" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash and cash equivalents at end of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_7" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5778" decimals="-3" scale="3" format="ixt:num-dot-decimal">791,802</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231_RumoSAMember_3" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5519" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,568,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231_RumoSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5920" decimals="-3" scale="3" format="ixt:num-dot-decimal">700,706</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5916" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20201231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5738" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20191231_CosanInvestimentoseParticipacoesSAMember" name="ifrs-full:CashAndCashEquivalents" unitRef="BRL" id="Tag5925" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.11663%;"><br/></td>
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</tbody>
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</div>
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<div>
<div id="t_ft_GFRN8LXJM800000000000000000000b">
<ix:exclude>
<p style="margin: 0px; text-align: center; text-indent: 0px;"><br/></p>
<div>
<div>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-77</span></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="margin: 0 auto;">
<div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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</ix:exclude>
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</div>
</ix:nonNumeric>
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</ix:continuation>
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</div>
</div><div id="Normadiv35" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<ix:continuation id="ca83726ab-e785-4cfd-a353-993469178ed7">
<div id="Normadiv36" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">9.3</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="font-weight: bold;">Acquisition of subsidiaries</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Business combinations are accounted for using the acquisition method when the control is transferred to the Company. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired and liabilities assumed. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognized in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">For each business combination, the Company chooses to measure any non-controlling interests in the acquisition:</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">i.&#160; &#160; at fair value; or<br/>ii.&#160; &#160;in its proportionate share of the acquirer's identifiable net assets, which are generally at fair value</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/>The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss for the year.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">Contingent consideration depends on whether an acquired business achieves goals within a fixed period. Estimates of future performance are required to calculate obligations at the time of acquisition and on each subsequent reporting date. In addition, estimates are necessary to assess the assets and liabilities acquired in business combinations. Intangible assets, such as brands, are commonly an essential part of an acquired business, as they allow us to obtain more value than would otherwise be possible.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><span style="font-weight: bold;">Measurement of fair values</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">In measuring fair values, valuation techniques were used considering market prices for similar items, discounted cash flow, among others.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/>Since it is a preliminary measurement of fair value, if new information obtained within one year, counting from the acquisition date, about the facts and circumstances that existed on the acquisition date, indicate adjustments in the values mentioned above, or any additional provision that existed on the acquisition date, the acquisition accounting will be revisited. Management's expectation is that only measurements of intangibles could have any impact in relation to this preliminary assessment.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">For convenience, the Company may designate the acquisition date at the end (or beginning) of a month, when the acquisition is concluded during the month</span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify; text-indent: -25.2pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">9.3.1.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;<span style="font-weight: bold;">Acquisition of</span>&#160;</span><span style="font-weight: bold;">Radar Group</span></span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_RadarGroupAcquisitionMember" name="csan:ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock" id="Tag6506" escape="true">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On November 3, 2021, Cosan acquired a <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6038" decimals="2" scale="-2" format="ixt:num-dot-decimal">47</ix:nonFraction>% equity interest in agricultural property management companies of the &#8220;Radar Group&#8221; (entities shown below), increasing an interest of&#160;<ix:nonFraction contextRef="D20211102_RadarGroupAcquisitionMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6605" decimals="2" scale="-2" format="ixt:num-dot-decimal">3</ix:nonFraction>% to <ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6607" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>%, as shown below:</span></p>
<div id="t_ft_IN2RIXVWWG00000000000000000000b">
<table cellpadding="0" style="height: 202px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 12px;">
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 32px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Acquired name </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest acquired </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 32px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Final interest</span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Direct </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Indirect </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 55%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_RadarPropriedadesAgricolasSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6580" escape="true">Radar Propriedades Agr&#237;colas S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 15%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_RadarPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6163" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 15%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_RadarPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag5744" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 15%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_RadarPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6194" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_RadarIIPropriedadesAgricolasSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6040" escape="true">Radar II Propriedades Agr&#237;colas S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_RadarIIPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6602" decimals="4" scale="-2" format="ixt:num-dot-decimal">47.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_RadarIIPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6037" xsi:nil="true"></ix:nonFraction> - </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_RadarIIPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6604" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_NovaAgricolaPonteAltaSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6600" escape="true">Nova Agr&#237;cola Ponte Alta S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_NovaAgricolaPonteAltaSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6582" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_NovaAgricolaPonteAltaSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6576" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_NovaAgricolaPonteAltaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6543" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:NameOfAcquiree" id="Tag6603" escape="true">Nova Amaralina S.A Propriedades Agr&#237;colas</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6015" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6149" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_NovaAmaralinaSAPropriedadesAgricolasMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5745" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6050" escape="true">Nova Santa B&#225;rbara Agr&#237;cola S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6172" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6173" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_NovaSantaBarbaraAgricolaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag5743" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_TerrasDaPontaAltaSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6361" escape="true">Terras da Ponta Alta S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_TerrasDaPontaAltaSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6198" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_TerrasDaPontaAltaSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6577" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_TerrasDaPontaAltaSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6009" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6599" escape="true">Castanheira Propriedades Agr&#237;colas S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6592" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag4937" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_CastanheiraPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6588" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:NameOfAcquiree" id="Tag6052" escape="true">Manac&#225; Propriedades Agr&#237;colas S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6578" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6060" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_ManacaPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6058" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211103_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:NameOfAcquiree" id="Tag153" escape="true">Paineira Propriedades Agr&#237;colas S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_DirectOwnershipMember_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6017" decimals="4" scale="-2" format="ixt:num-dot-decimal">38.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_IndirectOwnershipMember_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6049" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.06</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_PaineiraPropriedadesAgricolasSAMember" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" unitRef="Pure" id="Tag6155" decimals="4" scale="-2" format="ixt:num-dot-decimal">50.00</ix:nonFraction>%</span></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_QNLGBR217400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-78</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Shareholders' Agreement, Cosan has the majority of votes in matters of the Executive Board, as well as the power to decide on the relevant activities of the companies of the Radar Group and, therefore, acquired control. The equity interest immediately prior to the acquisition in the Radar Group net assets carrying value was substantially&#160;at fair value on the acquisition date.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The acquired companies are engaged in the land management business, with the capacity to invest in assets with high productive potential in Brazil. This acquisition is in line with the Company's capital allocation strategy, reinforcing the Company's commitment to the development of Brazilian agribusiness and the creation of value to its stakeholders.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The acquisition price paid in cash totaled R$<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" unitRef="BRL" id="Tag6010" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,572,352</ix:nonFraction>, of which R$<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" unitRef="BRL" id="Tag6196" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,479,404</ix:nonFraction> refers to the principal and R$<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" unitRef="BRL" id="Tag6006" decimals="-3" scale="3" format="ixt:num-dot-decimal">92,948</ix:nonFraction> to the adjustment of the installments by the IPCA. The consideration will be paid in <ix:nonFraction contextRef="D20210803_RadarGroupAcquisitionMember" name="csan:NumberOfInstallmentsForPaymentOfConsideration" unitRef="Pure" id="Tag6362" decimals="0" format="ixt:num-dot-decimal">4</ix:nonFraction> installments, with the first installment being paid on the of November 3, 2021, in the amount of R$<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="csan:PaymentOfFirstInstallmentInBusinessCombination" unitRef="BRL" id="Tag6608" decimals="-3" scale="3" format="ixt:num-dot-decimal">601,856</ix:nonFraction> and the other annual installments of R$<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="csan:AnnualInstallmentsAmountInBusinessCombination" unitRef="BRL" id="Tag6046" decimals="-3" scale="3" format="ixt:num-dot-decimal">295,881</ix:nonFraction>, adjusted by the IPCA, with final maturity in September 2024.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company, through independent consultants, assessed the fair value of all assets acquired and liabilities assumed as of the acquisition date.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On the acquisition date, the fair value of net assets acquired amounted to R$<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6601" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,231,107</ix:nonFraction>. The non-controlling interest is shown below considering Mansilla's proportional interest in the acquiree's&#160;net assets fair value.</span></p>
<ix:nonNumeric contextRef="D20211231_RadarGroupAcquisitionMember" name="csan:ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" id="Tag6508" escape="true">
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; border-bottom: 1px solid #000000; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders' equity attributable to non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: middle;"><br/></td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 72%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mansilla Participa&#231;&#245;es Ltda. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember_MansillaParticipacoesLtdaMember" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" unitRef="Pure" id="Tag6509" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember_MansillaParticipacoesLtdaMember" name="ifrs-full:NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" unitRef="BRL" id="Tag6014" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,115,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_LHEXXSOCY800000000000000000000b">
<ix:exclude>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-79</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<div id="Normadiv37" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><br/></div>
</div>
</ix:exclude>
</div>
</div>
<ix:nonNumeric contextRef="D20211231_RadarGroupAcquisitionMember" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" id="Tag6505" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0cm 0cm 10pt 53.45pt; text-indent: -18pt; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="mso-fareast-font-family: Arial; mso-bidi-font-family: Arial;"><span style="mso-list: Ignore;">a)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span></span></span></b><b><span>Identifiable assets acquired and liabilities assumed</span></b></span><span></span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of the assets and liabilities acquired is shown below:</span></p>
</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_BH3N1BV5K000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 382px;" width="100%">
<tbody>
<tr style="height: 31px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 31px; width: 87%;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 31px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Radar Group </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 31px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 10px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6044" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 10px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:MarketableSecuritiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6154" decimals="-3" scale="3" format="ixt:num-dot-decimal">38,675</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Accounts receivable from customers </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:TradeReceivablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6195" decimals="-3" scale="3" format="ixt:num-dot-decimal">194,715</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6061" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,780</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Taxes to recover </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:TaxAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6151" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other assets </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:OtherAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6048" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,099</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred income tax and social contribution </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:DeferredTaxAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6587" decimals="-3" scale="3" format="ixt:num-dot-decimal">44</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Judicial deposits </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:JudicialDepositsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6034" decimals="-3" scale="3" format="ixt:num-dot-decimal">279</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:OtherFinancialAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6056" decimals="-3" scale="3" format="ixt:num-dot-decimal">318,445</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:InvestmentPropertiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6166" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,875,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fixed assets </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6596" decimals="-3" scale="3" format="ixt:num-dot-decimal">33</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right of use </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:RightOfUseAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6360" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,240</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payable </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:TradePayablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6373" decimals="-3" scale="3" format="ixt:num-dot-decimal">992</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Taxes payable </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:TaxLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6160" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,443</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Related parts </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6372" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lease </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:LeaseLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6584" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,281</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Advance from customers </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:AdvanceFromCustomersRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6374" decimals="-3" scale="3" format="ixt:num-dot-decimal">41</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other obligations </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="csan:OtherLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6199" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,738</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred income tax and social contribution </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6510" decimals="-3" scale="3" format="ixt:num-dot-decimal">192,883</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision for contingencies </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:ContingentLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6579" decimals="-3" scale="3" format="ixt:num-dot-decimal">279</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total net identifiable assets at fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6378" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,231,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35135%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Since the acquisition date, the Radar Group contributed to the Company's revenues with R$<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="ifrs-full:RevenueOfAcquiree" unitRef="BRL" id="Tag6053" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,502</ix:nonFraction> and income before taxes of R$<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="ifrs-full:ProfitLossOfAcquiree" unitRef="BRL" id="Tag6370" decimals="-3" scale="3" format="ixt:num-dot-decimal">49,218</ix:nonFraction>. If the business combination had been completed at the beginning of the year, the Company's revenues would have totaled R$<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="ifrs-full:RevenueOfCombinedEntity" unitRef="BRL" id="Tag6026" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,179,637</ix:nonFraction>, and the profit for the year would have been R$<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="ifrs-full:ProfitLossOfCombinedEntity" unitRef="BRL" id="Tag6583" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,424,096</ix:nonFraction>.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; font-size: 10pt;"><b><span><span>b)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;<span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span>Gain on bargain purchase</span></b></span></span></span></span></b></span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160;<span>&#160;</span></span></span></p>
<ix:nonNumeric contextRef="D20211231_RadarGroupAcquisitionMember" name="csan:ScheduleOfConsiderationTransferredInBusinessCombinationTableTextBlock" id="Tag4231" escape="true">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of the net assets acquired exceeded the consideration transferred, generating a gain on bargain purchase as follow:</span></p>
<div id="t_ft_6FEJIB9RKW00000000000000000000b">
<table cellpadding="0" style="height: 78px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Consideration t</span>ransferred&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160; <ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" unitRef="BRL" id="Tag6368" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,572,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></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: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interest</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" unitRef="BRL" id="Tag6158" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,115,554</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value of Radar's Group pre-existing interest</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" unitRef="BRL" id="Tag6369" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,933</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></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: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Total net identifiable assets at fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; (<ix:nonFraction contextRef="I20211103_RadarGroupAcquisitionMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6193" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,231,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gain on bargain purchase </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160; &#160; &#160; &#160; &#160; &#160;(<ix:nonFraction contextRef="D20211103_RadarGroupAcquisitionMember" name="ifrs-full:GainRecognisedInBargainPurchaseTransaction" unitRef="BRL" id="Tag6544" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,268</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify; text-indent: -25.2pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">9.3.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Acquisition of Compass Group</span></span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On January 30, 2020, the Company completed the acquisition of <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" unitRef="Pure" id="Tag6595" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% interest in the Compass Group as follows:</span></p>
<ix:nonNumeric contextRef="D20211231_CompassGroupAcquisitionMember" name="csan:ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock" id="Tag4230" escape="true">
<div id="t_ft_YBQ4V6EYO000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 88px; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-top: 1px solid #000000; border-left: 1pt solid #000000; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Name of the acquiree </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-top: 1px solid #000000; border-right: 1pt solid #000000; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Description of the operation </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_CompassComercializadoraDeEnergiaLtdaMember" name="ifrs-full:NameOfAcquiree" id="Tag6012" escape="true">Compass Comercializadora de Energia Ltda.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_CompassComercializadoraDeEnergiaLtdaMember" name="ifrs-full:DescriptionOfAcquiree" id="Tag6375" escape="true">Natural gas and electricity trading</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_CompassGeracaoLtdaMember" name="ifrs-full:NameOfAcquiree" id="Tag6016" escape="true">Compass Gera&#231;&#227;o Ltda.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_CompassGeracaoLtdaMember" name="ifrs-full:DescriptionOfAcquiree" id="Tag6165" escape="true">Natural gas and electricity trading</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_CompassEnergiaLtdaMember" name="ifrs-full:NameOfAcquiree" id="Tag6150" escape="true">Compass Energia Ltda.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_CompassEnergiaLtdaMember" name="ifrs-full:DescriptionOfAcquiree" id="Tag6590" escape="true">No operation</ix:nonNumeric> </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_BlackRiverParticipacoesLtdaMember" name="ifrs-full:NameOfAcquiree" id="Tag6030" escape="true">Black River Participa&#231;&#245;es Ltda.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20200130_BlackRiverParticipacoesLtdaMember" name="ifrs-full:DescriptionOfAcquiree" id="Tag6039" escape="true">No operation</ix:nonNumeric></span></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:exclude>
<div>
<div id="t_ft_MU3O2BC3AO00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-80</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/></p>
</div>
</ix:exclude>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company, through its independent consultants, assessed whether the fair value of all assets and liabilities acquired in the opening statement of financial position is different from the stated carrying amount. The appraised assets and liabilities include property, plant and equipment items, customer portfolios, trademarks and, possibly, also long-term borrowings.</span></p>
<ix:nonNumeric contextRef="D20211231_CompassGroupAcquisitionMember" name="ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory" id="Tag6507" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of the assets and liabilities acquired is as follows:</span></p>
<div id="t_ft_AT4YDOELKG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 264px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass Comercializadora </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass Gera&#231;&#227;o </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6598" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,539</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6023" decimals="-3" scale="3" format="ixt:num-dot-decimal">177</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6609" decimals="-3" scale="3" format="ixt:num-dot-decimal">37</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6007" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,753</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:TradeReceivablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6019" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,384</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:TradeReceivablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6025" decimals="-3" scale="3" format="ixt:num-dot-decimal">149,163</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:TradeReceivablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6597" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:TradeReceivablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag5746" decimals="-3" scale="3" format="ixt:num-dot-decimal">161,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other tax receivable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:OtherTaxReceivableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6162" decimals="-3" scale="3" format="ixt:num-dot-decimal">134</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:OtherTaxReceivableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6062" decimals="-3" scale="3" format="ixt:num-dot-decimal">89</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:OtherTaxReceivableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6022" decimals="-3" scale="3" format="ixt:num-dot-decimal">31</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:OtherTaxReceivableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6581" decimals="-3" scale="3" format="ixt:num-dot-decimal">254</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6377" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6011" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6031" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6148" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:OtherCurrentAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6032" decimals="-3" scale="3" format="ixt:num-dot-decimal">24</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:OtherCurrentAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6027" decimals="-3" scale="3" format="ixt:num-dot-decimal">28</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:OtherCurrentAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6002" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:OtherCurrentAssetsRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6594" decimals="-3" scale="3" format="ixt:num-dot-decimal">52</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6511" decimals="-3" scale="3" format="ixt:num-dot-decimal">69</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6379" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6008" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6047" decimals="-3" scale="3" format="ixt:num-dot-decimal">69</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:TradePayablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6585" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,585</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:TradePayablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6036" decimals="-3" scale="3" format="ixt:num-dot-decimal">83,669</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:TradePayablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6197" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:TradePayablesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6170" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,254</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other taxes payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:OtherTaxesPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6164" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:OtherTaxesPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6021" decimals="-3" scale="3" format="ixt:num-dot-decimal">162</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:OtherTaxesPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6005" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:OtherTaxesPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6024" decimals="-3" scale="3" format="ixt:num-dot-decimal">162</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:OtherLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6171" decimals="-3" scale="3" format="ixt:num-dot-decimal">97</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:OtherLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6152" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:OtherLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6153" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:OtherLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6157" decimals="-3" scale="3" format="ixt:num-dot-decimal">97</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6033" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6043" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6035" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6059" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:DividendsPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6593" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:DividendsPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6045" decimals="-3" scale="3" format="ixt:num-dot-decimal">508</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:DividendsPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6156" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:DividendsPayableRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6200" decimals="-3" scale="3" format="ixt:num-dot-decimal">508</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="csan:PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6606" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="csan:PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6054" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="csan:PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6041" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="csan:PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6376" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred tax liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6004" decimals="-3" scale="3" format="ixt:num-dot-decimal">468</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6020" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6168" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6174" decimals="-3" scale="3" format="ixt:num-dot-decimal">468</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total identifiable assets, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20200130_CompassComercializadoraDeEnergiaLtdaMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6018" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,377</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20200130_CompassGeracaoLtdaMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6591" decimals="-3" scale="3" format="ixt:num-dot-decimal">48</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20200130_CompassEnergiaLtdaMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6167" decimals="-3" scale="3" format="ixt:num-dot-decimal">68</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6586" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Goodwill at the acquisition date consisted of:&#160;</span></p>
<div id="t_ft_URZ9E8LK9S00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; height: 66px;" width="100%">
<tbody>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 10px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Consideration transferred<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" unitRef="BRL" id="Tag6028" decimals="-3" scale="3" format="ixt:num-dot-decimal">99,385</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Total net assets acquired and </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> liabilities assumed at fair value(-) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" unitRef="BRL" id="Tag6371" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,493</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6057" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,892</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote10"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">On July 17, 2020, the Compass made an additional payment for the acquisition of Compass Trading in the amount of R$</span></span><span style="border-right: none; border-left: none;"><ix:nonFraction contextRef="D20200717_CompassGroupAcquisitionMember" name="ifrs-full:ConsiderationPaidReceived" unitRef="BRL" id="Tag6042" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,385</ix:nonFraction></span><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">, as provided for in the agreement.</span></span></ix:footnote></span></p>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The goodwill of R$<ix:nonFraction contextRef="I20200130_CompassGroupAcquisitionMember" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" unitRef="BRL" id="Tag6029" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,892</ix:nonFraction> comprises the value of future economic benefits arising from the acquisition.</span></p>
</div>
<ix:exclude>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_LFXDVRRXHS00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-81</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Had the acquisition of the Compass Group been completed on January 1, 2020, the Company's revenues would have been R$<ix:nonFraction contextRef="D20201231_CompassGroupAcquisitionMember" name="ifrs-full:RevenueOfAcquiree" unitRef="BRL" id="Tag6013" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,244,777</ix:nonFraction> and net profit would have been R$<ix:nonFraction contextRef="D20201231_CompassGroupAcquisitionMember" name="ifrs-full:ProfitLossOfAcquiree" unitRef="BRL" id="Tag6055" decimals="-3" scale="3" format="ixt:num-dot-decimal">934,817</ix:nonFraction>.</span></p>
</div>
</div>
</ix:continuation>
</div>
</div><div id="Normadiv38" style="font-family: 'times new roman', times; font-size: 10pt;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfJointVenturesExplanatory" id="Tag3874" escape="true">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">10.&#160; Investment in joint venture</span></p>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span style="font-weight: bold;">Accounting policy</span><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">The Company&#8217;s investment in joint venture is stated in the statement of financial position at the Company&#8217;s share of net assets under the equity method of accounting, less any impairment losses. If applicable, adjustments are made to bring into line any dissimilar accounting policies that may exist. The Company&#8217;s share of the results and reserves of joint venture is included in the statement of profit or loss, other comprehensive income and changes in equity, respectively. Unrealized gains and losses resulting from transactions between the Company and its joint venture is eliminated to the extent of the Company investment in the joint venture, except where unrealized losses provide evidence of an impairment of the asset transferred. Goodwill arising from the acquisition of joint venture is included as part of the Company&#8217;s investment in joint venture and, when necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment in accordance with IAS 36 Impairment of Assets as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with it carrying amount.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">The Company&#8217;s investment in joint venture is treated as non-current assets and are stated at cost less any impairment losses.<br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span> <span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-IN; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Changes to investment in joint venture were as follows:</span> <br/></span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfReconciliationOfSummarisedFinancialInformationOfJointVentureAccountedForUsingEquityMethodToCarryingAmountOfInterestInJointVentureExplanatory" id="Tag3875" escape="true">
<div id="t_ft_UGOHJDATCW00000000000000000000b">
<table cellpadding="0" style="height: 300px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Before reorganization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 20px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen Combust&#237;veis </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reorganization&#160;(note 2) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> Ra&#237;zen S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 45%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Shares issued by the joint venture </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6521" decimals="0" format="ixt:num-dot-decimal">1,661,418,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6522" decimals="0" format="ixt:num-dot-decimal">7,243,283,198</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ReorganizationMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6483" decimals="0" format="ixt:num-dot-decimal">1,447,807,814</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RaizenSAMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag3853" decimals="0" format="ixt:num-dot-decimal">10,352,509,484</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.5%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Shares held by Cosan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag3831" decimals="0" format="ixt:num-dot-decimal">830,709,236</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag3823" decimals="0" format="ixt:num-dot-decimal">3,621,641,599</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ReorganizationMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag3817" decimals="0" format="ixt:num-dot-decimal">105,246,282</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RaizenSAMember" name="csan:NumberOfSharesHeldByParent" unitRef="Shares" id="Tag3825" decimals="0" format="ixt:num-dot-decimal">4,557,597,117</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan ownership interest </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" unitRef="Pure" id="Tag3870" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" unitRef="Pure" id="Tag3819" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> -<ix:nonFraction contextRef="D20211231_ReorganizationMember" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" unitRef="Pure" id="Tag3872" decimals="2" scale="-2" format="ixt:num-dot-decimal">6</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenSAMember" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" unitRef="Pure" id="Tag3852" decimals="4" scale="-2" format="ixt:num-dot-decimal">44.02</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3824" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,212,601</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3821" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,336,359</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="I20191231_ReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6063" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20191231_RaizenSAMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3855" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,548,960</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3868" decimals="-3" scale="3" format="ixt:num-dot-decimal">332,240</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3832" decimals="-3" scale="3" format="ixt:num-dot-decimal">250,761</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ReorganizationMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3830" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenSAMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6482" decimals="-3" scale="3" format="ixt:num-dot-decimal">583,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive (losses) income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3834" decimals="-3" scale="3" format="ixt:num-dot-decimal">376,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3836" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">446,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ReorganizationMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3866" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenSAMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3867" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">69,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on capital </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag3843" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">73,388</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag6525" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ReorganizationMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag3846" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenSAMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag6494" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">73,388</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag6518" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag6457" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ReorganizationMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag3848" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RaizenSAMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag3862" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3822" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,847,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3826" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,140,702</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="I20201231_ReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3854" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_RaizenSAMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3818" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,988,208</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Interest in earnings of joint ventures <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6519" decimals="-3" scale="3" format="ixt:num-dot-decimal">448,124</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3851" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">72,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ReorganizationMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3828" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,215,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenSAMember" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3833" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,590,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive (losses) income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3813" decimals="-3" scale="3" format="ixt:num-dot-decimal">215,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3863" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">491,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ReorganizationMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6512" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">73,416</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenSAMember" name="csan:ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6484" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">349,177</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Interest on capital <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag6526" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">100,318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag3845" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ReorganizationMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag3812" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">122,480</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenSAMember" name="csan:InterestOnCapital" unitRef="BRL" id="Tag3861" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">222,798</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Corporate reorganization (Note 2) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" unitRef="BRL" id="Tag3829" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" unitRef="BRL" id="Tag3857" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,204,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ReorganizationMember" name="csan:IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" unitRef="BRL" id="Tag3859" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,204,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_RaizenSAMember" name="csan:IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" unitRef="BRL" id="Tag3869" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Dividends <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag3815" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">716,230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag3827" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">371,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ReorganizationMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag3814" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenSAMember" name="csan:DividendsReceivedFromJointVentures" unitRef="BRL" id="Tag6481" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,070,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_RaizenCombustiveisSAMember_BeforeReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6480" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,694,869</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="I20211231_RaizenEnergiaSAMember_BeforeReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3858" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ReorganizationMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag6118" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,241,794</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_RaizenSAMember" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3816" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,936,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<ix:exclude>
<p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_OFL17JDE3400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-82</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote11"><span style="border-right: none; border-left: none;">As disclosed in Note&#160;</span><span style="border-left: none; border-right: none;">2</span><span style="border-right: none; border-left: none;">, the conclusion of Ra&#237;zen's IPO and the acquisition of Biosev resulted in </span><span style="border-left: none; border-right: none;"><span style="border-right: none; border-left: none;">two</span></span><span style="border-right: none; border-left: none;"> capitalizations in Ra&#237;zen's equity of R$</span><span style="border-right: none; border-left: none;"><ix:nonFraction contextRef="D20210909_RaizenMember_1" name="csan:AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" unitRef="BRL" id="Tag3850" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,599,987</ix:nonFraction></span><span style="border-right: none; border-left: none;"> and R$</span><span style="border-right: none; border-left: none;"><ix:nonFraction contextRef="D20210810_BiosevMember_1" name="csan:SubscriptionBonusNetOfMarketValueAdjustment" unitRef="BRL" id="Tag3820" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,347,281</ix:nonFraction></span><span style="border-right: none; border-left: none;">, respectively. Such capitalizations resulted in a dilution of Cosan S.A.'s interest in Ra&#237;zen without the loss of shared control, keeping the investment classified as a joint venture. The following are the gains and losses recognized for the period:</span></ix:footnote></span></p>
</div>
</ix:nonNumeric>
<div style="margin: 0 auto;">
<div id="t_ft_0MQL93A3SG00000000000000000000b">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" id="Tag6524" escape="true">
<div>
<table cellpadding="0" style="height: 119px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; width: 86%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Reduction on previously held interest </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenMember_3" name="csan:ReductionOnPreviouslyHeldInterest" unitRef="BRL" id="Tag6527" decimals="-3" scale="3" format="ixt:num-dot-decimal">896,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Increase in investment due to cash contribution by non-controlling shareholders in the IPO</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenMember_3" name="csan:SubscribedCashInterestAtIPO" unitRef="BRL" id="Tag3842" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,929,872</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exercise of subscription bonus - H&#233;dera </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenMember_3" name="csan:ExerciseOfSubscriptionBonus" unitRef="BRL" id="Tag3835" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,043,347</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income * </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RaizenMember_3" name="csan:OtherComprehensiveIncomeReclassification" unitRef="BRL" id="Tag3856" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,243</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gain on dilution </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_RaizenMember_3" name="csan:GainOnDilution" unitRef="BRL" id="Tag3871" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,994,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year under the equity method</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RaizenMember_3" name="ifrs-full:ProfitLoss" unitRef="BRL" id="Tag3849" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,596,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest in earnings of joint venture</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_RaizenMember_3" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" unitRef="BRL" id="Tag3860" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,590,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 53.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">* <ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote12">Reclassification as part of the partial disposal.</ix:footnote></span></p>
</ix:nonNumeric>
</div>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(ii)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160; </span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote13"><span style="border-right: none; border-left: none;">Proposed amount in the period, of which R$</span><span style="border-right: none; border-left: none;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" unitRef="BRL" id="Tag3844" decimals="-3" scale="3" format="ixt:num-dot-decimal">819,729</ix:nonFraction></span><span style="border-right: none; border-left: none;"> were paid.</span></ix:footnote></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The statement of financial position and statement of profit or loss of the joint ventures are disclosed in Note 5 &#8211; Segment information.&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">According to the terms of the Joint Venture - Ra&#237;zen, Cosan is responsible for legal proceedings that existed before the formation of Ra&#237;zen, net of judicial deposits on April 1, 2011, as well as tax installments under the terms of the tax amnesty and the Refinancing Program, or REFIS, recorded in &#8220;Other taxes payable.&#8221; In addition, Cosan granted Ra&#237;zen access to a credit line (stand-by) in the amount of U.S.$<ix:nonFraction contextRef="I20211231" name="ifrs-full:UndrawnBorrowingFacilities" unitRef="BRL" id="Tag3865" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,000</ix:nonFraction> thousand, unused on December 31, 2021.&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2021, the Company was in compliance with the covenants of the contracts that govern the respective joint venture.&#160;<br/></span></p>
</div>
</ix:nonNumeric>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div><div id="Normadiv39" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock" id="Tag3728" escape="true">
<div id="Normadiv40" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0px; text-indent: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">11.&#160; &#160; Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets</span><br/></span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Impairment</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The recoverable amount is determined based on calculations of the value in use, using the discounted cash flow determined by Management based on budgets that take into account the assumptions related to each business, using information available in the market and previous performance. Discounted cash flows were drawn up over a ten-year period and carried forward in perpetuity without considering a real growth rate. Management uses periods greater than five years in the preparation of discounted cash flows considering that reflects the estimated time of use of the asset and business groups.</span></p>
</div>
<ix:exclude>
<div>
<div id="t_ft_WJPAPLM1J400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-83</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0px; text-indent: 0px;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company performs annually a review of impairment indicators for intangible assets with defined useful lives, property, plant and equipment and right-of-use assets. Also, an impairment test is undertaken for goodwill and intangible assets with indefinite useful lives. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Assumptions used in discounted cash flow projections &#8211; estimates of future business performance, cash generation, long term growth (<ix:nonNumeric contextRef="D20211231_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember" name="csan:AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" id="Tag1206" format="ixt-sec:durwordsen">ten years</ix:nonNumeric> for all subsidiaries, except for Logistics and Comg&#225;s that consider the remaining period of their concession contracts) and discount rates are used in our assessment of impairment of assets at the statement of financial position date. No reasonably plausible change to a key assumption would cause harm. The main assumptions used to determine the recoverable value of the different cash-generating units to which goodwill is allocated are explained below.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="display: inline;">11.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span><span style="font-weight: bold;">Property, plant and equipment</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent expenditure is capitalized only when it is probable that the future economic benefits associated with the expenditure will flow to the Company. Ongoing repairs and maintenance are expensed as incurred.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Items of property, plant and equipment are depreciated from the date they are available for use or, in respect of constructed assets, from the date that the asset is completed and ready for use.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation is calculated on the carrying value of property, plant and equipment less their estimated residual values using the straight-line basis over their estimated useful lives, recognized in profit or loss, unless it is capitalized as part of the cost of another asset. Land is not depreciated.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation methods, such as useful lives and residual values, are reviewed at the end of each year, or when there is a significant change without an expected consumption pattern, such as a relevant incident and technical obsolescence. Any adjustments are recognized as changes in accounting estimates, if appropriate.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfDepreciationEstimatedUsefulLifeExplanatory" id="Tag6424" escape="true">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows:</span></p>
<div id="t_ft_JS8W8897RK00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 136px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; width: 85%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Buildings and improvements </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; width: 15%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BuildingsAndImprovementsMember_BottomOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3447" decimals="2" scale="-2" format="ixt:num-dot-decimal">4</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_BuildingsAndImprovementsMember_TopOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag1189" decimals="2" scale="-2" format="ixt:num-dot-decimal">5</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Machinery, equipment and facilities </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_BottomOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag1201" decimals="2" scale="-2" format="ixt:num-dot-decimal">8</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_TopOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3671" decimals="2" scale="-2" format="ixt:num-dot-decimal">11</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;">Other</p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BottomOfRangeMember_OtherPropertyPlantAndEquipmentMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3608" decimals="2" scale="-2" format="ixt:num-dot-decimal">10</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_TopOfRangeMember_OtherPropertyPlantAndEquipmentMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag6447" decimals="2" scale="-2" format="ixt:num-dot-decimal">20</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railcars </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RailcarsMember_BottomOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3616" decimals="3" scale="-2" format="ixt:num-dot-decimal">2.9</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_RailcarsMember_TopOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag6451" decimals="2" scale="-2" format="ixt:num-dot-decimal">6</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Locomotives </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LocomotivesMember_BottomOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3564" decimals="3" scale="-2" format="ixt:num-dot-decimal">3.3</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_LocomotivesMember_TopOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3310" decimals="2" scale="-2" format="ixt:num-dot-decimal">8</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Permanent easement </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BottomOfRangeMember_PermanentEasementMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3572" decimals="2" scale="-2" format="ixt:num-dot-decimal">3</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_TopOfRangeMember_PermanentEasementMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3328" decimals="2" scale="-2" format="ixt:num-dot-decimal">4</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Furniture and fixtures </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_FixturesAndFittingsMember_BottomOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3566" decimals="2" scale="-2" format="ixt:num-dot-decimal">10</ix:nonFraction>% to <ix:nonFraction contextRef="D20211231_FixturesAndFittingsMember_TopOfRangeMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3337" decimals="2" scale="-2" format="ixt:num-dot-decimal">15</ix:nonFraction>% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Computer equipment </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ComputerEquipmentMember" name="ifrs-full:DepreciationRatePropertyPlantAndEquipment" unitRef="Pure" id="Tag3442" decimals="2" scale="-2" format="ixt:num-dot-decimal">20</ix:nonFraction>%</span></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Reconciliation of carrying amount:</span></p>
</div>
<ix:exclude>
<div>
<div id="t_ft_5GUIE0VMI800000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-84</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0px; text-indent: 0px;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<div id="t_ft_5LRKE9IY0W00000000000000000000b">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" id="Tag6415" escape="true">
<div>
<table cellpadding="0" style="height: 506px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 21.798%; text-align: center;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.23645%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Land, buildings and improvements </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Machinery, equipment and facilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">Railcars and locomotives<sup>(i)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Permanent easement </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Construction in progress </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.25123%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2271" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,186,365</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3653" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,163,862</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3451" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,000,272</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3673" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,724,322</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3623" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,509,025</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3368" decimals="-3" scale="3" format="ixt:num-dot-decimal">434,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1163" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,018,401</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3357" decimals="-3" scale="3" format="ixt:num-dot-decimal">125</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag2262" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,528</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3510" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,900</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3378" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,193</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1124" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,303,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3550" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,113</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1178" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,326,796</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3415" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">576</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag1217" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,113</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3223" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">94,689</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PermanentEasementMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3321" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3660" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag1251" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">24,293</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag1239" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">122,177</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3221" decimals="-3" scale="3" format="ixt:num-dot-decimal">370,302</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag6444" decimals="-3" scale="3" format="ixt:num-dot-decimal">261,705</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1221" decimals="-3" scale="3" format="ixt:num-dot-decimal">796,982</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3621" decimals="-3" scale="3" format="ixt:num-dot-decimal">645,611</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3546" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,008,901</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3404" decimals="-3" scale="3" format="ixt:num-dot-decimal">79,088</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3486" decimals="-3" scale="3" format="ixt:num-dot-decimal">144,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3595" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,028</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3453" decimals="-3" scale="3" format="ixt:num-dot-decimal">31,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3613" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1164" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3226" decimals="-3" scale="3" format="ixt:num-dot-decimal">619</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1177" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,593</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag6427" decimals="-3" scale="3" format="ixt:num-dot-decimal">70,492</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1230" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,577,244</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3668" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,457,234</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3584" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,720,465</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1042" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,371,126</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1199" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,804,174</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1274" decimals="-3" scale="3" format="ixt:num-dot-decimal">508,056</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3509" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,438,299</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3334" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3602" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1075" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3225" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3662" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1120" decimals="-3" scale="3" format="ixt:num-dot-decimal">41</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3539" decimals="-3" scale="3" format="ixt:num-dot-decimal">41</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1204" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,481</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3479" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,678</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag6426" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,681</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3495" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,501</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3570" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,852,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1073" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,326</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3315" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,871,139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag6819" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">81</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3488" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,189</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3444" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">123,980</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PermanentEasementMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3523" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">758</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3220" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3558" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">86,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3311" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">247,035</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3474" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,859</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3591" decimals="-3" scale="3" format="ixt:num-dot-decimal">538,179</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3663" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,140,723</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag6528" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,378,132</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1175" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,412,132</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3466" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,700</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1226" decimals="-3" scale="3" format="ixt:num-dot-decimal">76,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3326" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,662</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3417" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,712</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1079" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1214" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3349" decimals="-3" scale="3" format="ixt:num-dot-decimal">139</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag255" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,646</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1125" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LandAndBuildingsMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3587" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,001,165</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1043" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,974,614</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_RailcarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3593" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,738,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PermanentEasementMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3463" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,755,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ConstructionInProgressMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1202" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,244,653</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherPropertyPlantAndEquipmentMember_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1255" decimals="-3" scale="3" format="ixt:num-dot-decimal">441,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3683" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,156,064</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Depreciation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3682" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">360,434</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3512" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">532,019</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3233" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,914,789</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3481" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,020,767</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag5371" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,870</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1087" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">30,386</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1072" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,865,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3493" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">60,907</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3522" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">138,579</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3232" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">566,259</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag2267" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">517,033</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1074" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,048</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3461" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">34,309</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag1253" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,319,135</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3594" decimals="-3" scale="3" format="ixt:num-dot-decimal">7</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3384" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,188</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3555" decimals="-3" scale="3" format="ixt:num-dot-decimal">90,668</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag1250" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3402" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3317" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,654</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3508" decimals="-3" scale="3" format="ixt:num-dot-decimal">112,517</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3366" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">75,174</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3362" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">38,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1271" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">59,353</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3562" decimals="-3" scale="3" format="ixt:num-dot-decimal">67,841</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3394" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,795</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1210" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,419</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3645" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">121,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Impairment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag3625" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag3585" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag1071" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,405</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag1161" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">80,340</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag6421" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,256</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag3525" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,308</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag6452" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">143,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3590" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,054</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3418" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,997</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag6869" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3359" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3457" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3383" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,424</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3422" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">33,475</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag6435" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">507,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3632" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">732,412</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3657" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,481,138</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3305" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,550,299</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1170" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,379</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3473" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">85,192</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3332" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,369,793</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3609" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">91,631</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3596" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">202,154</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3445" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">532,558</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag6985" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">550,969</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3405" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3476" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">30,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" unitRef="BRL" id="Tag3436" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,407,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag6438" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,922</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag1223" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,165</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3498" decimals="-3" scale="3" format="ixt:num-dot-decimal">112,362</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag1227" decimals="-3" scale="3" format="ixt:num-dot-decimal">196</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3620" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3530" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,574</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" unitRef="BRL" id="Tag3433" decimals="-3" scale="3" format="ixt:num-dot-decimal">234,219</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3434" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">20,891</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1216" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,190</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3482" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,284</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3443" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,569</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag1198" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3610" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">242</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" unitRef="BRL" id="Tag3637" decimals="-3" scale="3" format="ixt:num-dot-decimal">44,772</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3664" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,645</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3338" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,331</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1231" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3507" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag1224" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag6986" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,949</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" unitRef="BRL" id="Tag3409" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">8,925</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3499" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">618,618</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1162" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">882,542</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_RailcarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3387" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,842,050</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_PermanentEasementMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3298" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,115,641</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_ConstructionInProgressMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1229" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,379</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_OtherPropertyPlantAndEquipmentMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1187" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">35,281</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3346" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,507,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LandAndBuildingsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1213" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,069,871</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MachineryEquipmentAndFacilitiesMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3636" decimals="-3" scale="3" format="ixt:num-dot-decimal">724,822</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RailcarsAndLocomotivesMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag2266" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,239,327</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PermanentEasementMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3627" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,820,827</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ConstructionInProgressMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1165" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,790,795</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.25123%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherPropertyPlantAndEquipmentMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3358" decimals="-3" scale="3" format="ixt:num-dot-decimal">422,864</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3532" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,068,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LandAndBuildingsMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3556" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,382,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_MachineryEquipmentAndFacilitiesMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag7025" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,092,072</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_RailcarsAndLocomotivesMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3544" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,896,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PermanentEasementMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1046" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,639,360</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ConstructionInProgressMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1069" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,231,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.25123%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherPropertyPlantAndEquipmentMember" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag3390" decimals="-3" scale="3" format="ixt:num-dot-decimal">406,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:PropertyPlantAndEquipment" unitRef="BRL" id="Tag1167" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,648,553</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_RPJYCZ5RW000000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 11%; text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 88%; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote17"><span style="border-right: none; border-left: none;">On December 31, 2021, and 2020, wagons and locomotives in the amount of R$<ix:nonFraction contextRef="I20201231_WagonsAndLocomotivesMember" name="csan:BankLoanGuarantee" unitRef="BRL" id="Tag7178" decimals="-3" scale="3" format="ixt:num-dot-decimal"><ix:nonFraction contextRef="I20211231_WagonsAndLocomotivesMember" name="csan:BankLoanGuarantee" unitRef="BRL" id="Tag1065" decimals="-3" scale="3" format="ixt:num-dot-decimal">745,203</ix:nonFraction></ix:nonFraction> were pledged to guarantee bank loans.</span></ix:footnote></td>
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<tr>
<td style="text-align: right; vertical-align: top; width: 11%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><br/></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top; width: 11%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote14"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">They are substantially transferring from property, plant and equipment under construction as a result of the capitalization of said assets.</span></ix:footnote></td>
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</ix:nonNumeric>
</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Capitalization of borrowing costs</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary Rumo capitalized during the year ended December 31, 2021, R$<ix:nonFraction contextRef="D20211231_RumoMember" name="ifrs-full:BorrowingCostsCapitalised" unitRef="BRL" id="Tag3347" decimals="-3" scale="3" format="ixt:num-dot-decimal">70,609</ix:nonFraction> (R$ <ix:nonFraction contextRef="D20201231_RumoMember" name="ifrs-full:BorrowingCostsCapitalised" unitRef="BRL" id="Tag3547" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,107</ix:nonFraction> on December 31, 2020) in construction in progress, at a weighted average rate of <ix:nonFraction contextRef="D20211231_RumoMember" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" unitRef="Pure" id="Tag1076" decimals="4" scale="-2" format="ixt:num-dot-decimal">11.81</ix:nonFraction>% p.a. (<ix:nonFraction contextRef="D20201231_RumoMember" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" unitRef="Pure" id="Tag3665" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.40</ix:nonFraction>% on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The indirect subsidiary TRSP capitalized during the year ended December 31, 2021, R$<ix:nonFraction contextRef="D20211231_TRSPMember" name="ifrs-full:BorrowingCostsCapitalised" unitRef="BRL" id="Tag3411" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,512</ix:nonFraction> in fixed assets, at a weighted average rate of <ix:nonFraction contextRef="D20211231_TRSPMember" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" unitRef="Pure" id="Tag1261" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.78</ix:nonFraction>% p.a.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-85</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
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<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">11.2.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Intangible assets</span><span style="font-weight: bold;"> and</span><span style="font-weight: bold;"> </span><span style="font-weight: bold;">goodwill</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
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<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">G</span><span style="font-weight: bold;">oodwill</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Goodwill is initially recognized based on the accounting policy for business combinations. Goodwill is measured at cost less accumulated impairment losses.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Goodwill acquired in a business combination is allocated to the Company&#8217;s cash-generating units (&#8220;CGU&#8221;), or groups of CGUs, that are expected to benefit from the synergies of the combination.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)<span 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: justify; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;&#160;&#160;&#160;&#160;</span>Other intangible assets</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other intangible assets that are acquired by the Company and have a short life are measured at cost, less accumulated amortization and any accumulated impairment losses.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Customer relationships</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Costs incurred on development of gas systems for new customers (including pipelines, valves, and general equipment) are recognized as intangible assets and amortized over the contract period.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Costs incurred with the customer portfolio and right-of-use and operating agreements are recognized as intangible assets and amortized over the term of the agreement.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Comg&#225;s</span><span style="font-weight: bold;">&#8217;s</span><span style="font-weight: bold;"> c</span><span style="font-weight: bold;">oncession rights</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s has a public concession agreement for a natural gas distribution service in which the Granting Authority controls what services will be provided and the price, as well it holds a significant participation in the infrastructure at the end of the concession. This concession agreement represents the right to charge users for gas supply during the term of the agreement. Accordingly, the subsidiary Comg&#225;s recognizes this right as an intangible asset.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s is subject to regulation, control and supervision of ARSESP. ARSESP establishes the maximum values of Comg&#225;s&#8217;s rates and regulates and supervises its business. Pursuant to Comg&#225;s&#8217;s concession agreement, every five years&#8212;or whenever ARSESP deems the economic and financial balance of the concession agreement to be adversely affected due to the variation of costs incurred by Comg&#225;s&#8212;Comg&#225;s&#8217;s rates are reviewed by ARSESP, which directly affects Comg&#225;s&#8217;s margins and its results, either positively or negatively.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Such margins are adjusted annually by the IGP-M minus the efficiency factor determined for each tariff cycle by ARSESP.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The intangible asset comprises: (i) <ix:nonNumeric contextRef="D20211231_5" name="csan:DescriptionOfAgreementOfIntangibleAssets" id="Tag5366" escape="true">the concession right recognized upon the business combination of Comg&#225;s, which is being amortized over the concession period on a straight line basis, considering the extension of the distribution services for another 20 years</ix:nonNumeric>; and (ii) the acquired or constructed assets underlying the concession necessary for the distribution of gas, which is being depreciated to match the period over which the future economic benefits of the asset are expected to accrue to the Company, or the final term of the concession, whatever occurs first. This period reflects the economic useful lives of each of the underlying assets that comprise the concession. This economic useful life is also used by the ARSESP to determine the basis for measuring the tariff for rendering the services under the concession.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amortization of intangible assets reflects the pattern expected for the utilization of the future economic benefits by the Company, which corresponds to the useful lives of the assets comprising the infrastructure according to the ARSESP provisions.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amortization of the intangible assets is discontinued when the related asset is fully used or written off, and no longer is included in the calculation basis of the tariff for the rendering of the concession services, whichever occurs first.</span></p>
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<ix:exclude>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-86</span></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="margin: 0px; text-indent: 0px;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
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<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">e)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Rumo&#8217;s concession rights</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo&#8217;s concession rights generated in the business combination of Rumo Malha Norte S.A. (&#8220;Rumo Malha Norte&#8221;) was fully allocated to the Rumo Malha Norte concession and amortized on a straight-line basis.</span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">f)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Subsequent expenditure</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent expenditures are capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are recognized in profit or loss as incurred.</span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">g)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; <span style="font-weight: bold;">Amortization</span></span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Except for goodwill, intangible assets are amortized on a straight-line basis over their estimated useful lives, from the date they are available for use or acquired.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.</span></p>
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</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" id="Tag3727" escape="true">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 502px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 22.2906%; text-align: center;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Goodwill </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.867%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Concession rights </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Operating license </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.867%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Trademarks </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.99015%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Customer relationships </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.49754%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 22.2906%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.62069%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.867%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.62069%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.867%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.99015%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.49754%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.74384%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3649" decimals="-3" scale="3" format="ixt:num-dot-decimal">904,977</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3573" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,024,518</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3651" decimals="-3" scale="3" format="ixt:num-dot-decimal">435,795</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1067" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3542" decimals="-3" scale="3" format="ixt:num-dot-decimal">829,091</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1257" decimals="-3" scale="3" format="ixt:num-dot-decimal">387,278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3605" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,627,829</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1240" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,167</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3618" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,227</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3448" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6446" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6443" decimals="-3" scale="3" format="ixt:num-dot-decimal">111,656</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3230" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,149</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3504" decimals="-3" scale="3" format="ixt:num-dot-decimal">137,199</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1172" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,892</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1083" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3670" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3344" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1078" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3472" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3667" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,892</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1197" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2265" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">48,442</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1212" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3537" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3502" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">131</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6434" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,474</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2263" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">61,047</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3586" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3567" decimals="-3" scale="3" format="ixt:num-dot-decimal">695,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3655" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3237" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6445" decimals="-3" scale="3" format="ixt:num-dot-decimal">408,470</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3336" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,573</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1228" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,066,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Discontinued operation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodwillMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3484" decimals="-3" scale="3" format="ixt:num-dot-decimal">80,684</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1054" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1047" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_BrandNamesMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3339" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,541</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3303" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,861</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1203" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,919</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="csan:IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3437" decimals="-3" scale="3" format="ixt:num-dot-decimal">181,005</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3462" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,088,720</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3410" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,676,443</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3681" decimals="-3" scale="3" format="ixt:num-dot-decimal">435,795</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3465" decimals="-3" scale="3" format="ixt:num-dot-decimal">54,207</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6532" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,424,947</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3551" decimals="-3" scale="3" format="ixt:num-dot-decimal">366,299</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1191" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,046,411</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3219" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1254" decimals="-3" scale="3" format="ixt:num-dot-decimal">765</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3631" decimals="-3" scale="3" format="ixt:num-dot-decimal">35,834</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1262" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3543" decimals="-3" scale="3" format="ixt:num-dot-decimal">155,469</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6825" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1246" decimals="-3" scale="3" format="ixt:num-dot-decimal">219,050</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1082" decimals="-3" scale="3" format="ixt:num-dot-decimal">224</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3582" decimals="-3" scale="3" format="ixt:num-dot-decimal">169,815</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3350" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1077" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1272" decimals="-3" scale="3" format="ixt:num-dot-decimal">44</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3355" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,146</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2269" decimals="-3" scale="3" format="ixt:num-dot-decimal">173,229</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3342" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6824" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,109,131</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1258" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">92,447</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3374" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1195" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">786</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3652" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,253</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1160" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,165,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange variation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3521" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3234" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3354" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6534" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,232</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3477" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,481</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.49754%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3617" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,361</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3449" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,699</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_GoodwillMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3487" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,132,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ServiceConcessionRightsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1080" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,616,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OperatingLicenseMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3580" decimals="-3" scale="3" format="ixt:num-dot-decimal">379,182</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_BrandNamesMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3614" decimals="-3" scale="3" format="ixt:num-dot-decimal">66,640</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3468" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,604,067</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherIntangibleAssetsMember_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3680" decimals="-3" scale="3" format="ixt:num-dot-decimal">509,053</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1236" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,308,283</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.867%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.867%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.99015%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.49754%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20191231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3675" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3430" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,884,699</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3227" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">236,122</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3329" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1058" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">410,449</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2260" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">243,699</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1256" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,784,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1159" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1219" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">490,100</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3370" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,774</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3511" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3306" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">86,162</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6433" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">88,988</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1044" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">677,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3684" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3438" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">17,030</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6437" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3541" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3640" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6449" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3691" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">21,958</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3690" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3571" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3403" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1179" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3464" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">390,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag287" decimals="-3" scale="3" format="ixt:num-dot-decimal">105,459</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1084" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">275,904</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1260" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3538" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3650" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3297" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3341" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">17,978</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3318" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,854</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1086" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">22,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1118" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6517" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,357,779</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6430" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">247,896</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3331" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1218" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">905,032</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3343" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">227,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1208" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,737,972</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3615" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1259" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">588,411</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3467" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">11,838</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3644" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3574" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">116,860</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3377" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">38,524</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3630" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">755,633</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3557" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag2261" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">152,236</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1057" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3319" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6439" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">114</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1171" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,828</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3459" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">156,178</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3565" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3588" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">116,305</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3485" decimals="-3" scale="3" format="ixt:num-dot-decimal">92,447</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3647" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3492" decimals="-3" scale="3" format="ixt:num-dot-decimal">533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6984" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">146,481</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3548" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">179,007</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3324" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3312" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3603" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3686" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3455" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,363</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1183" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,988</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3400" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,351</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="I20211231_GoodwillMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1180" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_ServiceConcessionRightsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3575" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,910,259</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_OperatingLicenseMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6821" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">167,287</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_BrandNamesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3592" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3553" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,028,608</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_OtherIntangibleAssetsMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3348" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">411,430</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3689" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,526,785</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GoodwillMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3401" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,088,720</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ServiceConcessionRightsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1205" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,318,664</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OperatingLicenseMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3228" decimals="-3" scale="3" format="ixt:num-dot-decimal">187,899</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_BrandNamesMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3581" decimals="-3" scale="3" format="ixt:num-dot-decimal">54,207</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3304" decimals="-3" scale="3" format="ixt:num-dot-decimal">519,915</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.49754%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherIntangibleAssetsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag6088" decimals="-3" scale="3" format="ixt:num-dot-decimal">139,034</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3351" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,308,439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_GoodwillMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1173" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,132,817</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ServiceConcessionRightsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag1235" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,706,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OperatingLicenseMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3674" decimals="-3" scale="3" format="ixt:num-dot-decimal">211,895</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_BrandNamesMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3491" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3222" decimals="-3" scale="3" format="ixt:num-dot-decimal">575,459</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.49754%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherIntangibleAssetsMember" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3345" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:IntangibleAssetsAndGoodwill" unitRef="BRL" id="Tag3322" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,781,498</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<ix:exclude>
<div>
<div style="border-left: none; border-right: none;">
<div id="t_ft_0800J0TDQO00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-87</span></td>
</tr>
</tbody>
</table>
</div>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p><br/></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Amortization methods and useful lives</span></li>
</ul>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfIntangibleAssetsExcludingGoodwillExplanatory" id="Tag3726" escape="true">
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 296px;" width="100%">
<tbody>
<tr style="height: 35px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 64.4089%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Intangible assets (excluding goodwill) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 35px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Annual rate of amortization </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 35px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 35px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.80368%; height: 35px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_CompanhiaDeGasDeSaoPauloMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag3407" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ServiceConcessionRightsMember_CompanhiaDeGasDeSaoPauloMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3371" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,953,495</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; background-color: #cceeff; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; width: 9.97537%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ServiceConcessionRightsMember_CompanhiaDeGasDeSaoPauloMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3490" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,425,014</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.80368%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo<sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ServiceConcessionRightsMember_RumoMalhaNorteSAMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag3327" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.59</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ServiceConcessionRightsMember_RumoMalhaNorteSAMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3406" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,752,770</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ServiceConcessionRightsMember_RumoMalhaNorteSAMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3629" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,893,650</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.80368%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ServiceConcessionRightsMember_6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3323" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,706,265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_ServiceConcessionRightsMember_6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3658" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,318,664</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 1.80368%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Operating license for port terminal </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OperatingLicenseMember_4" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag6873" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.70</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OperatingLicenseMember_4" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1252" decimals="-3" scale="3" format="ixt:num-dot-decimal">211,895</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OperatingLicenseMember_4" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3313" decimals="-3" scale="3" format="ixt:num-dot-decimal">187,899</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Trademarks </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 19px;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Undefined </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CommaMember_BrandNamesMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6440" decimals="-3" scale="3" format="ixt:num-dot-decimal">57,439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CommaMember_BrandNamesMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1190" decimals="-3" scale="3" format="ixt:num-dot-decimal">54,207</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Customer relationships </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 19px;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_CompanhiaDeGasDeSaoPauloMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag6988" decimals="4" scale="-2" format="ixt:num-dot-decimal">20.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember_CompanhiaDeGasDeSaoPauloMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6441" decimals="-3" scale="3" format="ixt:num-dot-decimal">276,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember_CompanhiaDeGasDeSaoPauloMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3626" decimals="-3" scale="3" format="ixt:num-dot-decimal">210,038</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_MooveMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag3611" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember_MooveMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag6232" decimals="-3" scale="3" format="ixt:num-dot-decimal">297,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember_MooveMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3528" decimals="-3" scale="3" format="ixt:num-dot-decimal">309,877</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_CustomerrelatedIntangibleAssetsMember_AllOtherSegmentsMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag3599" decimals="4" scale="-2" format="ixt:num-dot-decimal">20.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember_AllOtherSegmentsMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1222" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,362</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember_AllOtherSegmentsMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3330" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CustomerrelatedIntangibleAssetsMember_7" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3364" decimals="-3" scale="3" format="ixt:num-dot-decimal">575,459</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_CustomerrelatedIntangibleAssetsMember_7" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3299" decimals="-3" scale="3" format="ixt:num-dot-decimal">519,915</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 19px;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 19px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Software license </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ComputerSoftwareMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag3372" decimals="4" scale="-2" format="ixt:num-dot-decimal">20.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ComputerSoftwareMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3676" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,770</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ComputerSoftwareMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3622" decimals="-3" scale="3" format="ixt:num-dot-decimal">86,090</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherMember_MobilMember" name="csan:PercentageOfAmortizationRate" unitRef="Pure" id="Tag1200" decimals="4" scale="-2" format="ixt:num-dot-decimal">20.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherMember_MobilMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3666" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,853</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherMember_MobilMember" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag3656" decimals="-3" scale="3" format="ixt:num-dot-decimal">52,944</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.97537%; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherIntangibleAssetsMember_4" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1117" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,623</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.97537%; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_OtherIntangibleAssetsMember_4" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag5396" decimals="-3" scale="3" format="ixt:num-dot-decimal">139,034</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 10px;"></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 9.97537%; height: 10px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1126" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,648,681</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 10px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 9.97537%; height: 10px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" unitRef="BRL" id="Tag1130" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,219,719</ix:nonFraction> </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 10px;"></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<ix:exclude>
<div>
<div id="t_ft_2IB4WY1PZ400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-88</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0px; text-indent: 0px;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<div id="t_ft_MGBWHMX0KG00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 11%; text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 88%; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote15"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the intangible asset for the public gas distribution service concession, which represents the right to charge users for the supply of gas, comprised of: (i) the concession rights recognized in the business combination and (ii) concession assets.</span></ix:footnote></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><br/></td>
<td><br/></td>
<td><br/></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td><br/></td>
<td><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote16"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the railroad concession right agreement of&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. The amount will be amortized until the end of the concession in 2079.</span></span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Impairment testing of cash-generating units (&#8220;CGU&#8221;) goodwill</span></li>
</ul>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" id="Tag3724" escape="true">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The combined carrying amounts of goodwill allocated to each cash-generating unit are as follows:</span></p>
<div id="t_ft_15PSM9J53K00000000000000000000b">
<table cellpadding="0" style="height: 102px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 66.4766%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 16.9897%; text-align: right; border-bottom: 1px solid #000000; height: 17px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2020</span></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Moove </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CashGeneratingUnitMooveMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag1241" decimals="-3" scale="3" format="ixt:num-dot-decimal">916,742</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 16.9897%; text-align: right; height: 17px;"><ix:nonFraction contextRef="I20201231_CashGeneratingUnitMooveMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3678" decimals="-3" scale="3" format="ixt:num-dot-decimal">882,373</ix:nonFraction></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Compass </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CashGeneratingUnitCompassMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag1061" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,891</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 16.9897%; text-align: right; height: 17px;"><ix:nonFraction contextRef="I20201231_CashGeneratingUnitCompassMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3340" decimals="-3" scale="3" format="ixt:num-dot-decimal">94,891</ix:nonFraction></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Log&#237;stica </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CashGeneratingUnitLogisticaMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3413" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,451</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 16.9897%; text-align: right; height: 17px;"><ix:nonFraction contextRef="I20201231_CashGeneratingUnitLogisticaMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3669" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,451</ix:nonFraction></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Cosan &#8211; Other Business </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; border-bottom: 1px solid #000000; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CashGeneratingUnitCosanOtherBusinessMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3441" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,733</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 16.9897%; text-align: right; border-bottom: 1px solid #000000; height: 17px;"><ix:nonFraction contextRef="I20201231_CashGeneratingUnitCosanOtherBusinessMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3229" decimals="-3" scale="3" format="ixt:num-dot-decimal">43</ix:nonFraction></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 66.4766%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 18.0159%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3569" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,132,817</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 16.9897%; text-align: right; border-bottom: 2.8pt double #000000; height: 17px;"><ix:nonFraction contextRef="I20201231_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember" name="ifrs-full:Goodwill" unitRef="BRL" id="Tag3420" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,077,758</ix:nonFraction></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In general, the Company's future cash flow projections apply growth rates of <ix:nonFraction contextRef="I20211231" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" unitRef="Pure" id="Tag3536" decimals="2" scale="-2" format="ixt:num-dot-decimal">3</ix:nonFraction>% (<ix:nonFraction contextRef="I20201231" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" unitRef="Pure" id="Tag3577" decimals="3" scale="-2" format="ixt:num-dot-decimal">3.3</ix:nonFraction>% in 2020), which in no case are increasing or exceeding the average long-term growth rates for the industry and country in particular.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows are discounted at a pre-tax rate to calculate their present value. Discount rates, before tax and expressed in nominal terms, were between <ix:nonFraction contextRef="I20211231_BottomOfRangeMember" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" unitRef="Pure" id="Tag3494" decimals="3" scale="-2" format="ixt:num-dot-decimal">8.3</ix:nonFraction>% and <ix:nonFraction contextRef="I20211231_TopOfRangeMember" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" unitRef="Pure" id="Tag6442" decimals="3" scale="-2" format="ixt:num-dot-decimal">12.2</ix:nonFraction>% (between <ix:nonFraction contextRef="I20201231_BottomOfRangeMember" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" unitRef="Pure" id="Tag1188" decimals="3" scale="-2" format="ixt:num-dot-decimal">8.3</ix:nonFraction>% and <ix:nonFraction contextRef="I20201231_TopOfRangeMember" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" unitRef="Pure" id="Tag6871" decimals="3" scale="-2" format="ixt:num-dot-decimal">9.3</ix:nonFraction>% in 2020).</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory" id="Tag2772" escape="true">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The annual impairment test used assumptions of which we list some:</span></p>
<div id="t_ft_BJVCTHW17K00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 205px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assumptions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % annual </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 86%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Risk-free fee (T-Note 10y) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" unitRef="Pure" id="Tag3365" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.46</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation (BR) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BR_1" name="csan:AnnualImpairmentTestAssumptionsInflationPercentage" unitRef="Pure" id="Tag6454" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation (US) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_US" name="csan:AnnualImpairmentTestAssumptionsInflationPercentage" unitRef="Pure" id="Tag3589" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.16</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation (UK) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GB" name="csan:AnnualImpairmentTestAssumptionsInflationPercentage" unitRef="Pure" id="Tag1275" decimals="4" scale="-2" format="ixt:num-dot-decimal">2.04</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Country risk premium (BR) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BR_1" name="csan:AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" unitRef="Pure" id="Tag2268" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.68</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Country risk premium (UK) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GB" name="csan:AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" unitRef="Pure" id="Tag3412" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.51</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Country risk premium (ARG) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AR" name="csan:AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" unitRef="Pure" id="Tag1263" decimals="4" scale="-2" format="ixt:num-dot-decimal">10.21</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk premium </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" unitRef="Pure" id="Tag3458" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.63</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax rate (BR) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BR_1" name="csan:AnnualImpairmentTestAssumptionsTaxRatePercentage" unitRef="Pure" id="Tag3642" decimals="4" scale="-2" format="ixt:num-dot-decimal">34.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax rate (UK) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GB" name="csan:AnnualImpairmentTestAssumptionsTaxRatePercentage" unitRef="Pure" id="Tag1225" decimals="4" scale="-2" format="ixt:num-dot-decimal">19.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax rate (ARG) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AR" name="csan:AnnualImpairmentTestAssumptionsTaxRatePercentage" unitRef="Pure" id="Tag3450" decimals="4" scale="-2" format="ixt:num-dot-decimal">30.00</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2020, the Logistics CGU recorded a provision for impairment in the amount of R$<ix:nonFraction contextRef="D20211231_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember_RumoSAMember" name="ifrs-full:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" unitRef="BRL" id="Tag1122" decimals="-3" scale="3" format="ixt:num-dot-decimal">143,987</ix:nonFraction> referring to the concession of Rumo Malha Oeste S.A. (&#8220;Rumo Malha Oeste&#8221;), of which R$<ix:nonFraction contextRef="D20211231_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember_RumoSAMember" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" unitRef="BRL" id="Tag6990" decimals="-3" scale="3" format="ixt:num-dot-decimal">143,018</ix:nonFraction> refers to property, plant and equipment and R$<ix:nonFraction contextRef="D20211231_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember_RumoSAMember" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag3545" decimals="-3" scale="3" format="ixt:num-dot-decimal">966</ix:nonFraction> refers to up to the right of use. During the year ended December 31, 2021, no changes were identified in the 2020 valuations for a provision revaluation. Additionally, management filed a re-bidding request for Rumo Malha Oeste to extend the concession period and, thus, reinvest in the rail network.</span></p>
<ix:exclude>
<div>
<div id="t_ft_D91HW2Y68000000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-89</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ImpairmentLoss" unitRef="BRL" id="Tag3598" decimals="-3" scale="3" format="ixt-sec:numwordsen">no</ix:nonFraction> impairment charge on assets and goodwill was recognized. The determination of the recoverability of the assets depends on certain key assumptions, as described above, which are influenced by the market, technological and economic conditions prevailing when this recovery is tested and, therefore, it is not possible to determine whether further reductions in the recoverable value will occur in the future and, if they occur, whether they would be material.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">11.3</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Contract asset</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory" id="Tag3864" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Contract assets are measured at acquisition cost, including capitalized borrowing costs. When the assets come into operation, the depreciable values within the concession agreement are transferred to intangible assets. Comg&#225;s reassess useful lives, whenever such assessment indicates that amortization period will exceed concession contract term, a portion of the asset is converted into financial asset as it represents an account receivable from the concession authority. Such classification is in accordance with IFRIC 12 &#8220;Service Concession Arrangements.&#8221;&#160;</span></p>
<div id="t_ft_NKKKLKQYIO00000000000000000000b">
<table cellpadding="0" style="height: 224px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 0.5pt solid #000000; height: 34px;"><span style="font-weight: bold;">Gas and Power</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 0.5pt solid #000000; height: 34px;"><span style="font-weight: bold;">Moove</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 0.5pt solid #000000; height: 34px;"><span style="font-weight: bold;">Total</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><ix:nonFraction contextRef="I20191231_GasAndPowerMember" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag6453" decimals="-3" scale="3" format="ixt:num-dot-decimal">594,601</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><ix:nonFraction contextRef="I20191231_MooveMember" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag3540" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,940</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag1267" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,541</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 65%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 10%;"><ix:nonFraction contextRef="D20201231_GasAndPowerMember" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" unitRef="BRL" id="Tag3529" decimals="-3" scale="3" format="ixt:num-dot-decimal">885,631</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 10%;"><ix:nonFraction contextRef="D20201231_MooveMember" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" unitRef="BRL" id="Tag3367" decimals="-3" scale="3" format="ixt:num-dot-decimal">571</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" unitRef="BRL" id="Tag3561" decimals="-3" scale="3" format="ixt:num-dot-decimal">886,202</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><ix:nonFraction contextRef="D20201231_GasAndPowerMember" name="ifrs-full:DecreaseThroughImpairmentContractAssets" unitRef="BRL" id="Tag1045" xsi:nil="true"></ix:nonFraction>&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="D20201231_MooveMember" name="ifrs-full:DecreaseThroughImpairmentContractAssets" unitRef="BRL" id="Tag3308" xsi:nil="true"></ix:nonFraction>&#8212;</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DecreaseThroughImpairmentContractAssets" unitRef="BRL" id="Tag6989" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfer to concession rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and customer relationships </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(<ix:nonFraction contextRef="D20201231_GasAndPowerMember" name="ifrs-full:DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets" unitRef="BRL" id="Tag3480" decimals="-3" scale="3" format="ixt:num-dot-decimal">793,542</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><ix:nonFraction contextRef="D20201231_MooveMember" name="ifrs-full:DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets" unitRef="BRL" id="Tag2264" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,737</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets" unitRef="BRL" id="Tag3352" decimals="-3" scale="3" format="ixt:num-dot-decimal">790,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><ix:nonFraction contextRef="I20201231_GasAndPowerMember" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag3672" decimals="-3" scale="3" format="ixt:num-dot-decimal">686,690</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><ix:nonFraction contextRef="I20201231_MooveMember" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag1193" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,248</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag3316" decimals="-3" scale="3" format="ixt:num-dot-decimal">695,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><ix:nonFraction contextRef="D20211231_GasAndPowerMember" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" unitRef="BRL" id="Tag1176" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,020,176</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><ix:nonFraction contextRef="D20211231_MooveMember" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" unitRef="BRL" id="Tag3654" decimals="-3" scale="3" format="ixt:num-dot-decimal">37,203</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" unitRef="BRL" id="Tag3579" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,057,379</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><ix:nonFraction contextRef="D20211231_GasAndPowerMember" name="ifrs-full:DecreaseThroughImpairmentContractAssets" unitRef="BRL" id="Tag1174" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">(<ix:nonFraction contextRef="D20211231_MooveMember" name="ifrs-full:DecreaseThroughImpairmentContractAssets" unitRef="BRL" id="Tag3469" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,439</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DecreaseThroughImpairmentContractAssets" unitRef="BRL" id="Tag3395" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,439</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfer to concession rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and customer relationships </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(<ix:nonFraction contextRef="D20211231_GasAndPowerMember" name="ifrs-full:DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets" unitRef="BRL" id="Tag3471" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,021,896</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:nonFraction contextRef="D20211231_MooveMember" name="ifrs-full:DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets" unitRef="BRL" id="Tag6436" xsi:nil="true"></ix:nonFraction>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets" unitRef="BRL" id="Tag6888" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,021,896</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2021&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px; text-align: right;"><span style="font-weight: bold; border-left: none; border-right: none;"><ix:nonFraction contextRef="I20211231_GasAndPowerMember" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag3687" decimals="-3" scale="3" format="ixt:num-dot-decimal">684,970</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px; text-align: right;"><span style="font-weight: bold; border-left: none; border-right: none;"><ix:nonFraction contextRef="I20211231_MooveMember" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag1048" decimals="-3" scale="3" format="ixt:num-dot-decimal">21,012</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:ContractAssets" unitRef="BRL" id="Tag6432" decimals="-3" scale="3" format="ixt:num-dot-decimal">705,982</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_XP8IQ8GCK000000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td style="width: 8.60547%; text-align: right; vertical-align: top; height: 17px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1.34208%; height: 17px;"><br/></td>
<td style="width: 90.0525%; text-align: justify; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount of the transfers also includes a portion of the intangible asset that was reclassified to a financial asset according to the provisions of IFRIC&#160;</span><span>12</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<ul style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Capitalization of borrowing costs</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 75.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">During the year ended December 31, 2021, the indirect subsidiary<span>&#160;</span>Comg&#225;s<span>&#160;</span>capitalized R$<ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_ContractAssetsMember" name="ifrs-full:BorrowingCostsCapitalised" unitRef="BRL" id="Tag1059" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,829</ix:nonFraction><span>&#160;</span>at a weighted average rate of<span>&#160;</span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_ContractAssetsMember" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" unitRef="Pure" id="Tag6456" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.45</ix:nonFraction>% p.a. (R$<ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_ContractAssetsMember" name="ifrs-full:BorrowingCostsCapitalised" unitRef="BRL" id="Tag1062" decimals="-3" scale="3" format="ixt:num-dot-decimal">36,522</ix:nonFraction><span>&#160;</span>at a weighted average rate of<span>&#160;</span><ix:nonFraction contextRef="D20201231_CompassGasEEnergiaSAMember_ContractAssetsMember" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" unitRef="Pure" id="Tag3392" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.40</ix:nonFraction>% p.a. on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">11.4</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Right-of-use assets</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;">The right-of-use asset is measured initially at cost, which comprises the initial measurement amount of the lease liability, adjusted for any lease payments made through the commencement date, plus any initial direct costs incurred by the lessee and an estimate of the costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the location in which it is located, or restoring the underlying asset to the condition required by the terms and conditions of the lease, less any lease incentives received.</p>
<ix:exclude>
<div>
<div id="t_ft_8THORIFCIO00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-90</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0px; text-indent: 0px;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The right-of-use asset is subsequently depreciated on a straight-line basis from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the lessee at the end of the lease term, or if the cost of right-of-use asset reflects that the lessee will exercise the purchase option. In this case, the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as that of the property, plant and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.&#160;&#160;<br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary Rumo evaluated its railroad concessions within the scope of the IFRIC 12&#160;Concession Contracts interpretation and, as it did not meet the terms within the scope of this interpretation, it registered its concession contracts as a right of use.<br/></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" id="Tag3725" escape="true">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 545px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 9.23645%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Land, buildings and improvements </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Machinery, equipment and facilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Freight cars and locomotives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.37438%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Software </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.37438%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Vehicles </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 9.23645%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Port and rail infrastructure </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 20.8128%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.23645%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.74384%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.74384%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.37438%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.37438%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.23645%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.62069%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3363" decimals="-3" scale="3" format="ixt:num-dot-decimal">247,430</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3452" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,718</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1194" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,038,641</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_SoftwareMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3641" decimals="-3" scale="3" format="ixt:num-dot-decimal">66,931</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_VehiclesMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1209" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,259</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3314" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,803,954</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3688" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,181,933</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3679" decimals="-3" scale="3" format="ixt:num-dot-decimal">124,014</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3552" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,714</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3460" decimals="-3" scale="3" format="ixt:num-dot-decimal">864</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_SoftwareMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag254" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,438</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_VehiclesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag6431" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3446" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,406,560</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3559" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,565,590</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contractual adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1041" decimals="-3" scale="3" format="ixt:num-dot-decimal">187</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3524" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,397</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1169" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,783</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_SoftwareMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3501" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_VehiclesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag5398" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">334</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1128" decimals="-3" scale="3" format="ixt:num-dot-decimal">251,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag6428" decimals="-3" scale="3" format="ixt:num-dot-decimal">263,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag6425" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3380" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3396" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">107,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_SoftwareMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3526" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_VehiclesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag6420" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag1265" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3607" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">107,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag6450" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,197</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3612" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">707</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3320" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_SoftwareMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3424" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_VehiclesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3475" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3333" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;<ix:nonFraction contextRef="D20201231_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1085" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,490</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><ix:nonFraction contextRef="I20201231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3425" decimals="-3" scale="3" format="ixt:num-dot-decimal">380,828</ix:nonFraction></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1211" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,122</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3534" decimals="-3" scale="3" format="ixt:num-dot-decimal">933,325</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SoftwareMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3563" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,369</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_VehiclesMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1270" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,925</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1123" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,462,368</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag2274" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,911,937</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag3361" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,240</ix:nonFraction>&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag6422" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag3628" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_GrossCarryingAmountMember" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag3578" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_VehiclesMember_GrossCarryingAmountMember" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag1220" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag1247" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="csan:AcquisitionsThroughBusinessCombinationsRightOfUseAssets" unitRef="BRL" id="Tag1264" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,240</ix:nonFraction>&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag6892" decimals="-3" scale="3" format="ixt:num-dot-decimal">73,039</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag1207" decimals="-3" scale="3" format="ixt:num-dot-decimal">47,554</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3606" decimals="-3" scale="3" format="ixt:num-dot-decimal">43</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3634" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_VehiclesMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag38" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,219</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3419" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,108</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag1238" decimals="-3" scale="3" format="ixt:num-dot-decimal">150,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contractual adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3381" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,663</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag6987" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,784</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag6087" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,242</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_SoftwareMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1070" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,659</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_VehiclesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3478" decimals="-3" scale="3" format="ixt:num-dot-decimal">41</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3505" decimals="-3" scale="3" format="ixt:num-dot-decimal">330,312</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag6874" decimals="-3" scale="3" format="ixt:num-dot-decimal">430,701</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag1182" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,121</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3648" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3583" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_GrossCarryingAmountMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag1121" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_VehiclesMember_GrossCarryingAmountMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3643" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3379" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3604" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14,957</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3391" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">233,296</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag1186" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,264</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3426" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3600" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_VehiclesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3633" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag1248" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,475</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag6872" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">233,507</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3398" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,530</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1215" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,561</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3376" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag2270" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_VehiclesMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1185" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">86</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1184" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GrossCarryingAmountMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag6455" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,005</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LandAndBuildingsMember_GrossCarryingAmountMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1192" decimals="-3" scale="3" format="ixt:num-dot-decimal">254,883</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_MachineryEquipmentAndFacilitiesMember_GrossCarryingAmountMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3677" decimals="-3" scale="3" format="ixt:num-dot-decimal">142,449</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_FreightCarsAndLocomotivesMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3325" decimals="-3" scale="3" format="ixt:num-dot-decimal">938,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_SoftwareMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag37" decimals="-3" scale="3" format="ixt:num-dot-decimal">87,028</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_VehiclesMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3638" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,099</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PortAndRailInfrastructureMember_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag6231" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,800,313</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_GrossCarryingAmountMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1266" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,252,382</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.37438%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.37438%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3393" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">78,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3560" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,074</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3421" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">367,072</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3659" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,594</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1237" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,457</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1127" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">250,456</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1196" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">713,618</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1053" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">34,977</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1166" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,527</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3309" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">53,413</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3454" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,940</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3382" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,572</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1052" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">230,057</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1049" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">339,486</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Impairment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag3576" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag1040" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag3300" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag3496" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag3497" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag2272" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="csan:ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" unitRef="BRL" id="Tag6870" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3489" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3549" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag1119" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,745</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3397" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3483" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag6429" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3388" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,745</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1168" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,888</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3440" decimals="-3" scale="3" format="ixt:num-dot-decimal">506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3431" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3535" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3661" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1060" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3470" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,382</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1269" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">115,830</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3428" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,095</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3224" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">360,740</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1234" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,534</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag6820" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,029</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3533" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">481,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3360" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">995,707</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3601" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">30,838</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3432" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">16,339</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1181" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">38,478</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1066" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">4,425</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1249" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,131</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1131" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">322,042</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3639" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">414,253</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3231" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,134</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag1055" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,547</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3356" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3307" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3456" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag3568" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,885</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughTransfersRightOfUseAssets" unitRef="BRL" id="Tag1056" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,472</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3369" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,880</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3527" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,229</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag1063" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag6448" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag6791" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3386" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="csan:DisposalsOfRightOfUseAssets" unitRef="BRL" id="Tag3635" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3597" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">265</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3416" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag1268" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3353" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3423" decimals="-3" scale="3" format="ixt:num-dot-decimal">35</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3385" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedDepreciationAndAmortisationMember" name="csan:IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" unitRef="BRL" id="Tag3399" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,736</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LandAndBuildingsMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1129" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">67,919</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_MachineryEquipmentAndFacilitiesMember_AccumulatedDepreciationAndAmortisationMember_1" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3624" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">29,258</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_FreightCarsAndLocomotivesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3235" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">399,218</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_SoftwareMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3646" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">16,959</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_VehiclesMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1233" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,125</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_PortAndRailInfrastructureMember_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3335" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">776,636</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_AccumulatedDepreciationAndAmortisationMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag6549" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,305,115</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LandAndBuildingsMember_4" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3435" decimals="-3" scale="3" format="ixt:num-dot-decimal">264,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MachineryEquipmentAndFacilitiesMember_4" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3389" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FreightCarsAndLocomotivesMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3429" decimals="-3" scale="3" format="ixt:num-dot-decimal">572,585</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_SoftwareMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3503" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,835</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_VehiclesMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3506" decimals="-3" scale="3" format="ixt:num-dot-decimal">896</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PortAndRailInfrastructureMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1081" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,980,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag2273" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,916,230</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LandAndBuildingsMember_4" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3236" decimals="-3" scale="3" format="ixt:num-dot-decimal">186,964</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_MachineryEquipmentAndFacilitiesMember_4" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3427" decimals="-3" scale="3" format="ixt:num-dot-decimal">113,191</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_FreightCarsAndLocomotivesMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3439" decimals="-3" scale="3" format="ixt:num-dot-decimal">539,392</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_SoftwareMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3373" decimals="-3" scale="3" format="ixt:num-dot-decimal">70,069</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_VehiclesMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3500" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,974</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PortAndRailInfrastructureMember" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag1064" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,023,677</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:RightofuseAssets" unitRef="BRL" id="Tag3414" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,947,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><br/></p>
<div id="t_ft_RQ227XHUZK00000000000000000000b">
<table style="width: 100%; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px;">
<tbody>
<tr>
<td style="width: 71.901px; text-align: right;">(i)</td>
<td style="width: 9.21875px;"><br/></td>
<td style="width: 787.357px; margin: 0px; text-indent: 0px; padding: 0px;"><span style="border-right: none; border-left: none;"><span style="border-left: none; border-right: none; text-align: justify;">On June 16, 2021, the subsidiary Rumo exercised a purchase option on the Rondon&#243;polis Railway Terminal in the amount of R$<ix:nonFraction contextRef="D20210616_RumoMember" name="ifrs-full:AdditionsToRightofuseAssets" unitRef="BRL" id="Tag3408" decimals="-3" scale="3" format="ixt:num-dot-decimal">184,100</ix:nonFraction> (historical cost), which is being leased to the subsidiary Rumo Malha Norte S.A.</span></span></td>
</tr>
</tbody>
</table>
</div>
<ix:exclude>
<div>
<div id="t_ft_JAWJ89MJ7K00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-91</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p><br/></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">11.5</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Investment property</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investment property is measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is stated at fair value, which reflects market conditions at the reporting date. Revenue from the sale of agricultural properties is not recognized in income until (i) the sale is completed, (ii) the Company determines that payment by the buyer is probable; (iii) revenue can be measured reliably; and (iv) the Company has transferred the ownership risks to the purchaser, and no longer has any involvement in the property. Gains on the sale of agricultural properties are presented in the income statement as net income and the cost is presented as cost of properties sold.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of agricultural properties was determined based on the direct comparative method of market data applied to transactions with similar properties (type, location and quality of the property), and to some extent based on sales quotations for potential transactions with comparable assets (level 3). The methodology used to determine fair value takes into account direct comparisons of market information, such as market research, homogenization of values, spot market prices, sales, distances, facilities, access to land, topography and soil, use of land (type of crop) and rainfall, among other data, in line with the standards issued by the Brazilian Association of Technical Standards Associa&#231;&#227;o Brasileira de Normas T&#233;cnicas), or &#8220;ABNT&#8221;. Significant unobservable inputs range from <ix:nonFraction contextRef="D20211231_BottomOfRangeMember" name="csan:SignificantUnobservableInputPercentage" unitRef="Pure" id="Tag3375" decimals="3" scale="-2" format="ixt:num-dot-decimal">6.5</ix:nonFraction>% p.a. and <ix:nonFraction contextRef="D20211231_TopOfRangeMember" name="csan:SignificantUnobservableInputPercentage" unitRef="Pure" id="Tag3554" decimals="2" scale="-2" format="ixt:num-dot-decimal">9</ix:nonFraction>% p.a. on December 31, 2021.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The portfolio is evaluated annually by external experts and is periodically reviewed by in-house professionals technically qualified to carry out this type of evaluation.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfInvestmentPropertyExplanatory" id="Tag6419" escape="true">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The balances of investment properties are shown below:</span></p>
<div id="t_ft_Y51H97581S00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 120px;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Investment property </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; width: 86%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag1232" xsi:nil="true"></ix:nonFraction>&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Subsidiary acquisition (Note 9.3) </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AcquisitionsThroughBusinessCombinationsInvestmentProperty" unitRef="BRL" id="Tag286" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,875,752</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Variation in fair value, net </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag6767" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision of Real Estate Transfer Tax </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughPropertyTransferTaxProvision" unitRef="BRL" id="Tag3531" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseThroughOtherChangesInvestmentProperty" unitRef="BRL" id="Tag3619" decimals="-3" scale="3" format="ixt:num-dot-decimal">278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:InvestmentProperty" unitRef="BRL" id="Tag3685" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,886,696</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: middle; height: 18px;"><br/></td>
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
</div><div id="Normadiv42" style="font-family: 'times new roman', times; font-size: 10pt;">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-92</span></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="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div>
</div>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfCommitmentsExplanatory" id="Tag3174" escape="true">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">12. Commitments</span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>Considering the current gas supply contracts, Comg&#225;s has a total financial commitment in an estimated present value of R$<ix:nonFraction contextRef="I20211231_ComgasMember_GasDistributionMember" name="csan:FinancialCommitmentInEstimatedPresentValue" unitRef="BRL" id="Tag7026" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,745,842</ix:nonFraction>, until the end of December 2023, which amount includes the minimum established in contract in both commodity and transportation.&#160; &#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>The sub-concession contracts to which the Rumo, through its subsidiaries, is a party, often include commitments to execute investments with certain characteristics during the term of the contract. We can highlight: The renewal addendum to the concession of Rumo Malha Paulista, which foresees the execution long with the concession of a set of investment projects to increase capacity and reduce urban conflicts, estimated by the agency at R$<ix:nonFraction contextRef="I20211231_RumoMalhaPaulistaSAMember" name="csan:EstimatedInvestmentsToBeMadeForSubConcessionContracts" unitRef="BRL" id="Tag7027" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,100,000</ix:nonFraction> (value updated until December 2017). Of this amount, around R$<ix:nonFraction contextRef="I20211231_RumoMalhaPaulistaSAMember" name="csan:ObligationsOfEstimatedInvestmentsForSubConcessionContracts" unitRef="BRL" id="Tag6838" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,000,000</ix:nonFraction> comprise the obligations, whose physical execution was <ix:nonFraction contextRef="I20211231_RumoMalhaPaulistaSAMember" name="csan:PercentageOfPhysicalExecution" unitRef="Pure" id="Tag6837" decimals="2" scale="-2" format="ixt:num-dot-decimal">16</ix:nonFraction>%. The Rumo Malha Central sub-concession contract provides for investments with a fixed term (<span style="-sec-ix-hidden:Tag7155">one</span> to <span style="-sec-ix-hidden:Tag7154">three</span> years from the signing of the contract), estimated by ANTT at R$<ix:nonFraction contextRef="I20211231_RumoMalhaCentralSAMember" name="csan:EstimatedInvestmentsToBeMadeForSubConcessionContracts" unitRef="BRL" id="Tag6529" decimals="-3" scale="3" format="ixt:num-dot-decimal">645,573</ix:nonFraction>. As of December 31, 2021, the physical execution of the obligation book projects was <ix:nonFraction contextRef="I20211231_RumoMalhaCentralSAMember" name="csan:PercentageOfPhysicalExecution" unitRef="Pure" id="Tag6520" decimals="2" scale="-2" format="ixt:num-dot-decimal">65</ix:nonFraction>% (<ix:nonFraction contextRef="I20201231_RumoMalhaCentralSAMember" name="csan:PercentageOfPhysicalExecution" unitRef="Pure" id="Tag3154" decimals="2" scale="-2" format="ixt:num-dot-decimal">56</ix:nonFraction>% on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span>The Eleva&#231;&#245;es Portu&#225;rias concession and lease agreement provide for investments aimed at improving and modernizing the facilities and equipment allocated therein, estimated in the amount of R$<ix:nonFraction contextRef="I20211231_RumoSAMember_PortElevationMember" name="csan:FinancialCommitmentInEstimatedPresentValue" unitRef="BRL" id="Tag3173" decimals="-3" scale="3" format="ixt:num-dot-decimal">340,000</ix:nonFraction>. On December 31, 2021, the subsidiary had made investments at a cost of R$<ix:nonFraction contextRef="I20211231_RumoSAMember_PortElevationMember" name="csan:InvestmentsAtCost" unitRef="BRL" id="Tag3172" decimals="-3" scale="3" format="ixt:num-dot-decimal">270,629</ix:nonFraction>&#160;(R$ <ix:nonFraction contextRef="I20201231_RumoSAMember_PortElevationMember" name="csan:InvestmentsAtCost" unitRef="BRL" id="Tag3155" decimals="-3" scale="3" format="ixt:num-dot-decimal">270,629</ix:nonFraction> on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span> The subsidiary Compass G&#225;s e Energia, through Compass Comercializa&#231;&#227;o, has a contract for the supply of Liquefied Natural Gas ("LNG") with Total Gas &amp; Power Limited which after overcoming the preceding conditions, is committed to incurring the staggered acquisition LNG supply capacity of up to <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaMember_GasDistributionMember" name="srt:ProductionBarrelsOfOilEquivalents1" unitRef="MillionsOfBTU" id="Tag3147" decimals="-6" scale="6" format="ixt:num-dot-decimal">120</ix:nonFraction> TBTU for a period of <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaMember_GasDistributionMember" name="csan:ContractualFixedTerm" id="Tag3146" format="ixt-sec:duryear">10</ix:nonNumeric> years.</span></p>
</ix:nonNumeric>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div><div id="Normadiv44" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfConcessionsPayableExplanatory" id="Tag2776" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">13</span>.&#160; &#160; Concessions payable</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The balance of lease installments involved in lawsuits with the granting authority is recorded in this account. The initial registration takes place at the amount of the installment at maturity, by transferring the &#8220;Leases&#8221; account. Subsequently, the values are corrected by Selic.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Balances paid in installments with the Granting Authority are kept in this account. The initial registration is for the amount remaining due from the resolution of the dispute. The values are corrected by Selic until payment.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfConcessionsPayableAndJudicialDepositsExplanatory" id="Tag2784" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This account also includes balances payable in connection with the granting of concession rights (&#8220;Concessions&#8221;), initially recorded as a contra entry to intangible assets (Note <span style="border-left: none; border-right: none;">11.2</span>). Subsequent measurement occurs at the effective rate.</span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Court discussion </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CourtDiscussionMember_RumoMalhaPaulistaSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag200" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CourtDiscussionMember_RumoMalhaPaulistaSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag197" decimals="-3" scale="3" format="ixt:num-dot-decimal">101,871</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CourtDiscussionMember_RumoMalhaOesteSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag175" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,747,233</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CourtDiscussionMember_RumoMalhaOesteSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag202" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,617,764</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_CourtDiscussionMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag160" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,802,403</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_CourtDiscussionMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag188" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,719,635</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Railroad concession payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RailroadConcessionPayableUnderLitigationMember_RumoMalhaPaulistaSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag156" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,145,450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RailroadConcessionPayableUnderLitigationMember_RumoMalhaPaulistaSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag174" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,154,919</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Sul S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherConcessionsPayableMember_RumoMalhaSulSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag190" decimals="-3" scale="3" format="ixt:num-dot-decimal">85,713</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherConcessionsPayableMember_RumoMalhaSulSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag178" decimals="-3" scale="3" format="ixt:num-dot-decimal">84,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherConcessionsPayableMember_RumoMalhaPaulistaSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag154" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,682</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherConcessionsPayableMember_RumoMalhaPaulistaSAMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag187" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,151</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherConcessionsPayableMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag194" decimals="-3" scale="3" format="ixt:num-dot-decimal">106,395</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_OtherConcessionsPayableMember" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag167" decimals="-3" scale="3" format="ixt:num-dot-decimal">108,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag161" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,054,248</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:ConcessionsPayables" unitRef="BRL" id="Tag158" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,983,342</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:CurrentConcessionsPayables" unitRef="BRL" id="Tag198" decimals="-3" scale="3" format="ixt:num-dot-decimal">160,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:CurrentConcessionsPayables" unitRef="BRL" id="Tag177" decimals="-3" scale="3" format="ixt:num-dot-decimal">158,705</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:NoncurrentConcessionsPayables" unitRef="BRL" id="Tag195" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,893,477</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:NoncurrentConcessionsPayables" unitRef="BRL" id="Tag168" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,824,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_WA41KHLVEO00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-93</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Court Discussion</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo Malha Oeste also pleads for the reestablishment of the economic and financial balance, lost due to the cancellation of transportation contracts existing at the time of privatization, configuring changes in the regulatory scenario and conditions established in the Privatization Notice - in addition, the growth forecasts that defined the business value did not materialize. The lawsuit is pending before the Federal Regional Court of the second Region. The amount referring to the Company&#8217;s overdue installments was guaranteed by the acquisition of public debt securities (<span style="font-style: italic;">Letras Financeiras do Tesouro</span>) or &#8220;LFT.&#8221; In March 2008, the Company obtained authorization to replace the guarantee with bank guarantee and in May 2008 the Company redeemed the amounts. In December 2014, a decision was handed down that upheld the lawsuit, recognizing the occurrence of economic and financial imbalance in the contracts. In December 2015, a request for replacement of letters of guarantee presented by the Company with guaranteed insurance was granted. An appeal judgment is pending before the Federal Regional Court (<span style="font-style: italic;">Tribunal Regional Federal</span>), or &#8220;TRF.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Management, supported by the opinion of its lawyers, assesses the chances of success as probable, but maintains the record of the liability because it is a contractual obligation not yet withdrawn from the Company, and because the amount is still pending.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On July 21, 2020, the Company filed with the ANTT, a request to qualify for a new bidding process to third parties of the object of the Concession Contract signed between Rumo Malha Oeste and the Brazilian government, through the Ministry of Transport (&#8220;Re-bidding Process&#8221;), according to Federal Law No. 13,448 of June 5, 2017, and regulated by Decree No. 9,957 of August 7, 2019.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfDetailedInformationAboutJudicialDepositsExplanatory" id="Tag2000" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Judicial deposits at December 31, 2021 and 2020 concerning the above claims are as follows:&#160;</span></p>
<div id="t_ft_K2H4S4URK000000000000000000000b">
<table cellpadding="0" style="height: 0px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;"> December 31, 2021</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><br/></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 10px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 20</span><span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">20</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1pt solid #000000; height: 18px; width: 12%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RumoMalhaOesteMember" name="csan:JudicialDeposits" unitRef="BRL" id="Tag179" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,119</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1pt solid #000000; height: 18px; width: 12%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RumoMalhaOesteMember" name="csan:JudicialDeposits" unitRef="BRL" id="Tag181" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,119</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 18px; width: 1%;"></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:JudicialDeposits" unitRef="BRL" id="Tag155" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,119</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:JudicialDeposits" unitRef="BRL" id="Tag170" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,119</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 20px;"></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rail</span><span style="font-style: italic; font-weight: bold;">road</span><span style="font-style: italic; font-weight: bold;"> concession payable</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a condition for entering into the renewal amendment for Rumo Malha Paulista, there was a need for the Company to resolve the dispute involving the economic and financial rebalancing of the original contract. To this end, an agreement was signed between Rumo Malha Paulista, Brazilian government and ANTT, in which it was agreed: i) a credit in favor of the Company related to labor liens paid up to 2005; ii) the conversion of existing judicial deposits in favor of the Union; iii) an uncontroversial balance in favor of the Federal Government, divided into eight annual installments adjusted by Selic; iv) a portion of liabilities to be offset against potential credits in favor of the Company, these credits, subject to the assessment to be carried out by a working group involving the parties.&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The effects of the offsetting of balances were updated up to the registration date and resulted in a reversal of R$<ix:nonFraction contextRef="D20211231_RailroadConcessionPayableUnderLitigationMember_RumoSAMember" name="ifrs-full:GainsOnLitigationSettlements" unitRef="BRL" id="Tag182" decimals="-3" scale="3" format="ixt:num-dot-decimal">479,563</ix:nonFraction> (R$<ix:nonFraction contextRef="D20211231_RailroadConcessionPayableUnderLitigationMember_RumoSAMember" name="csan:GainOnReversalOfLeaseLiabilitiesRelatedToOtherIncomeExpenses" unitRef="BRL" id="Tag164" decimals="-3" scale="3" format="ixt:num-dot-decimal">348,319</ix:nonFraction> in other expenses and R$<ix:nonFraction contextRef="D20211231_RailroadConcessionPayableUnderLitigationMember_RumoSAMember" name="csan:GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult" unitRef="BRL" id="Tag163" decimals="-3" scale="3" format="ixt:num-dot-decimal">131,243</ix:nonFraction> in the financial result). As a result of the agreement, suspensions of the proceedings for return lawsuits filed by Rumo against the Brazilian government were required to determine labor claims that were not part of the agreement (from 2005), and which will be the subject of an investigation to be carried out by working group involving the parties. In parallel, the parties will submit a request for judicial approval of the agreement in the records of the economic and financial rebalancing action of the contract.</span></p>
</div>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_UTC7TB64I800000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-94</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfLeasesAndGrantsRelatedToConcessionPayableTableTextBlock" id="Tag2696" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Leases and grants under IFRS 16</span><span style="font-style: italic; font-weight: bold;"> (Note 6.</span><span style="font-style: italic; font-weight: bold;">7</span><span style="font-style: italic; font-weight: bold;">)</span></span></p>
<div id="t_ft_FN881L1QRK00000000000000000000b">
<table cellpadding="0" style="height: 271px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 10px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Sul&#160;</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RumoMalhaSulSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag171" decimals="-3" scale="3" format="ixt:num-dot-decimal">623,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 2%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RumoMalhaSulSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag165" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,745</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RumoMalhaPaulistaSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag173" decimals="-3" scale="3" format="ixt:num-dot-decimal">508,169</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RumoMalhaPaulistaSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag183" decimals="-3" scale="3" format="ixt:num-dot-decimal">475,647</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RumoMalhaOesteSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag176" decimals="-3" scale="3" format="ixt:num-dot-decimal">216,101</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RumoMalhaOesteSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag169" decimals="-3" scale="3" format="ixt:num-dot-decimal">179,568</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Eleva&#231;&#245;es Portu&#225;rias </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ElevacoesPortuariasSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag172" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,046</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ElevacoesPortuariasSAMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag166" decimals="-3" scale="3" format="ixt:num-dot-decimal">76,925</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Portofer </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_PortoferLtdaMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag157" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,921</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PortoferLtdaMember" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag180" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,463</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag162" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,458,392</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:LeasesRelatedToConcessionPayable" unitRef="BRL" id="Tag204" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,345,348</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Grants </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 21px;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista (renewal) </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RumoMalhaPaulistaSAMember" name="csan:GrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag201" decimals="-3" scale="3" format="ixt:num-dot-decimal">590,594</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RumoMalhaPaulistaSAMember" name="csan:GrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag159" decimals="-3" scale="3" format="ixt:num-dot-decimal">492,222</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Central S.A. </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_RumoMalhaCentralSAMember" name="csan:GrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag196" decimals="-3" scale="3" format="ixt:num-dot-decimal">614,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_RumoMalhaCentralSAMember" name="csan:GrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag199" decimals="-3" scale="3" format="ixt:num-dot-decimal">491,354</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:GrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag203" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,205,004</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:GrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag185" decimals="-3" scale="3" format="ixt:num-dot-decimal">983,576</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:LeasesAndGrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag205" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,663,396</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:LeasesAndGrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag193" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,328,924</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 20px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:CurrentLeasesAndGrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag189" decimals="-3" scale="3" format="ixt:num-dot-decimal">274,774</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:CurrentLeasesAndGrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag184" decimals="-3" scale="3" format="ixt:num-dot-decimal">232,212</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:NonCurrentLeasesAndGrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag192" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,388,622</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:NonCurrentLeasesAndGrantsRelatedToConcessionPayable" unitRef="BRL" id="Tag191" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,096,712</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
</ix:nonNumeric>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div><div id="Normadiv45" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfOtherTaxesPayableExplanatory" id="Tag2773" escape="true">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">14</span>.&#160; &#160; Other taxes payable</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfOtherThanIncomeTaxExplanatory" id="Tag2775" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is subject to taxes, contributions and municipal, state and federal duties, in its respective jurisdictions.&#160;</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax amnesty and refinancing program </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_REFISMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2759" decimals="-3" scale="3" format="ixt:num-dot-decimal">200,664</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_REFISMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag43" decimals="-3" scale="3" format="ixt:num-dot-decimal">202,377</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ICMS &#8211; State VAT </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_IcmsStateVatMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag33" decimals="-3" scale="3" format="ixt:num-dot-decimal">278,351</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_IcmsStateVatMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2757" decimals="-3" scale="3" format="ixt:num-dot-decimal">198,708</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> COFINS &#8211; Revenue tax </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_COFINSMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2755" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,214</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_COFINSMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2750" decimals="-3" scale="3" format="ixt:num-dot-decimal">61,930</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> PIS &#8211; Revenue tax </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_PISMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2756" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,082</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PISMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2762" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,578</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> INSS &#8211; Social security </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_INSSMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2766" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,215</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_INSSMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2751" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,515</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IRRF - Withhold Income Tax </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_WithholdingIncomeTaxMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag13" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,024</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_WithholdingIncomeTaxMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2761" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ISS &#8211; Service tax </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_ISSMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2746" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
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<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ISSMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2760" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,108</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IOF &#8211; Financial tax </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_IOFMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2752" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_IOFMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2765" decimals="-3" scale="3" format="ixt:num-dot-decimal">873</ix:nonFraction> </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherTaxPayableMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag44" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,559</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherTaxPayableMember" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2753" decimals="-3" scale="3" format="ixt:num-dot-decimal">55,255</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
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<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2745" decimals="-3" scale="3" format="ixt:num-dot-decimal">683,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:OtherTaxPayable" unitRef="BRL" id="Tag2764" decimals="-3" scale="3" format="ixt:num-dot-decimal">566,344</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2754" decimals="-3" scale="3" format="ixt:num-dot-decimal">536,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2763" decimals="-3" scale="3" format="ixt:num-dot-decimal">417,326</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-current </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag39" decimals="-3" scale="3" format="ixt:num-dot-decimal">146,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag42" decimals="-3" scale="3" format="ixt:num-dot-decimal">149,018</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-95</span></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: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amounts due on non-current liabilities present the following maturity schedule:&#160;&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13 to 24 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodOneMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag67" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,370</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodOneMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag68" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,254</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25 to 36 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodTwoMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag69" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodTwoMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag46" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 37 to 48 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodThreeMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag45" decimals="-3" scale="3" format="ixt:num-dot-decimal">716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodThreeMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2758" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,478</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 49 to 60 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodFourMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag40" decimals="-3" scale="3" format="ixt:num-dot-decimal">716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodFourMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2767" decimals="-3" scale="3" format="ixt:num-dot-decimal">691</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 61 to 72 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodFiveMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2748" decimals="-3" scale="3" format="ixt:num-dot-decimal">137,687</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodFiveMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag10" decimals="-3" scale="3" format="ixt:num-dot-decimal">134,151</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73 to 84 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodSixMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2749" decimals="-3" scale="3" format="ixt:num-dot-decimal">716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodSixMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag65" decimals="-3" scale="3" format="ixt:num-dot-decimal">691</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 85 to 96 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodSevenMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2744" decimals="-3" scale="3" format="ixt:num-dot-decimal">716</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodSevenMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag2747" decimals="-3" scale="3" format="ixt:num-dot-decimal">691</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Thereafter </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_MaturityPeriodEightAndThereafterMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag11" decimals="-3" scale="3" format="ixt:num-dot-decimal">454</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_MaturityPeriodEightAndThereafterMember" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag41" decimals="-3" scale="3" format="ixt:num-dot-decimal">919</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag66" decimals="-3" scale="3" format="ixt:num-dot-decimal">146,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" unitRef="BRL" id="Tag35" decimals="-3" scale="3" format="ixt:num-dot-decimal">149,018</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
</ix:nonNumeric>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div><div id="Normadiv46" style="font-family: 'times new roman', times; font-size: 10pt;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfIncomeTaxExplanatory" id="Tag6531" escape="true">
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">15. Income tax and social contribution</span></p>
<p style="margin: 10pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The statutory income taxes rate in Brazil is <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ApplicableTaxRate" unitRef="Pure" id="Tag1108" decimals="2" scale="-2" format="ixt:num-dot-decimal">34</ix:nonFraction>%. Income taxes in Brazil are paid by each legal entity on a stand-alone basis and tax consolidation is not permitted. Current tax and deferred tax are recognized in profit or loss except for some transactions that are recognized directly in equity or in other comprehensive income.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">a) Current tax</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Current tax is the expected tax payable or receivable on the taxable income or loss for the period, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">b) Deferred tax</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes and tax loss.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The measurement of deferred tax reflects the way the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to taxes levied by the same tax authority and the same taxable entity.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">c) Tax exposure</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In determining the amount of current and deferred tax, the Company considers the impact of uncertain tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Company to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact tax expense in the period that such a determination is made.</span></p>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_7ULY5YVS2O00000000000000000000b">
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-96</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">d) Recoverability of deferred income tax and social contribution</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In assessing the recoverability of deferred taxes, management considers the projections of future taxable income. When it is not probable that part or all the taxes will be realized, the tax asset is reversed. There is no expiration date for the use of tax loss carryforwards and negative bases, but the use of these accumulated losses of previous years is limited to <ix:nonFraction contextRef="D20211231_5" name="csan:MaximumPermittedTaxLossCarryforwardsPercentage" unitRef="Pure" id="Tag6188" decimals="2" scale="-2" format="ixt:num-dot-decimal">30</ix:nonFraction>% of annual taxable income.&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfReconciliationBetweenStatutoryTaxRateAndEffectiveTaxExpensesRateExplanatory" id="Tag3041" escape="true">
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Reconciliation of income tax and social contribution expenses&#160;</span></span></p>
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<table cellpadding="0" style="height: 322px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt; color: black; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt; color: black; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt; color: black; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Profit before taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag1106" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,250,876</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag2986" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,990,961</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossBeforeTax" unitRef="BRL" id="Tag2865" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,661,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></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-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Income tax and social contribution nominal rate (<ix:nonFraction contextRef="D20211231_5" name="csan:NominalInterestRate" unitRef="Pure" id="Tag3010" decimals="2" scale="-2" format="ixt:num-dot-decimal">34</ix:nonFraction>%) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:IncomeTaxAndSocialContribution" unitRef="BRL" id="Tag2962" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,125,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:IncomeTaxAndSocialContribution" unitRef="BRL" id="Tag2923" decimals="-3" scale="3" format="ixt:num-dot-decimal">676,927</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20191231" name="csan:IncomeTaxAndSocialContribution" unitRef="BRL" id="Tag6186" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,245,062</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Adjustments to determine the effective rate&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Interest in earnings of investees (non-taxable income) <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfInterestInEarningsOfInvestees" unitRef="BRL" id="Tag6097" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,734,883</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfInterestInEarningsOfInvestees" unitRef="BRL" id="Tag6113" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">207,940</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfInterestInEarningsOfInvestees" unitRef="BRL" id="Tag2706" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">385,097</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Differences in tax rates on earnings&#160;(losses) of overseas companies </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfPermanentAndOtherDifferenceTaxRates" unitRef="BRL" id="Tag2904" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">55,910</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfPermanentAndOtherDifferenceTaxRates" unitRef="BRL" id="Tag2971" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,793</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfPermanentAndOtherDifferenceTaxRates" unitRef="BRL" id="Tag20" decimals="-3" scale="3" format="ixt:num-dot-decimal">78,026</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Granted income tax incentive </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20211231_5" name="csan:IncomeTaxIncentiveAmount" unitRef="BRL" id="Tag2887" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">199,687</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20201231_4" name="csan:IncomeTaxIncentiveAmount" unitRef="BRL" id="Tag2845" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">109,081</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20191231" name="csan:IncomeTaxIncentiveAmount" unitRef="BRL" id="Tag2980" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">178,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Share-based payment transactions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfSharebasedCompensation" unitRef="BRL" id="Tag1098" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfSharebasedCompensation" unitRef="BRL" id="Tag3003" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,941</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfSharebasedCompensation" unitRef="BRL" id="Tag2886" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,986</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Interest on shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfInterestOnEquity" unitRef="BRL" id="Tag31" decimals="-3" scale="3" format="ixt:num-dot-decimal">72,804</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfInterestOnEquity" unitRef="BRL" id="Tag2931" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,773</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfInterestOnEquity" unitRef="BRL" id="Tag2917" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,766</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Non-deductible expenses (donations, gifts, etc.) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfNondeductibleExpenses" unitRef="BRL" id="Tag1100" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfNondeductibleExpenses" unitRef="BRL" id="Tag2888" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,183</ix:nonFraction>) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfNondeductibleExpenses" unitRef="BRL" id="Tag1110" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,925</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Tax losses not recorded </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfTaxLossesNotRecognized" unitRef="BRL" id="Tag2738" decimals="-3" scale="3" format="ixt:num-dot-decimal">203,809</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfTaxLossesNotRecognized" unitRef="BRL" id="Tag2949" decimals="-3" scale="3" format="ixt:num-dot-decimal">170,017</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (<ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfTaxLossesNotRecognized" unitRef="BRL" id="Tag2950" decimals="-3" scale="3" format="ixt:num-dot-decimal">69,335</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="background-color: #cceeff; height: 20px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; background-color: #cceeff; margin: 0pt; text-indent: 10pt; height: 20px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <span>ICMS benefit -<span>&#160; </span>extemporaneous tax credits </span><sup><span>(ii)</span></sup> </span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20211231_5" name="csan:ICMSBenefitExtemporaneousTaxCredits" unitRef="BRL" id="Tag25" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">290,745</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20201231_4" name="csan:ICMSBenefitExtemporaneousTaxCredits" unitRef="BRL" id="Tag2977" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20191231" name="csan:ICMSBenefitExtemporaneousTaxCredits" unitRef="BRL" id="Tag6115" xsi:nil="true"></ix:nonFraction>&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; margin: 0pt; text-indent: 10pt; height: 20px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <span>ICMS benefit - current period </span><sup><span>(iii)</span></sup> </span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20211231_5" name="csan:ICMSBenefitCurrentPeriod" unitRef="BRL" id="Tag1111" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">118,107</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20201231_4" name="csan:ICMSBenefitCurrentPeriod" unitRef="BRL" id="Tag2981" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20191231" name="csan:ICMSBenefitCurrentPeriod" unitRef="BRL" id="Tag2906" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; background-color: #cceeff; margin: 0pt; text-indent: 10pt; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Rate difference&#160;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:TaxEffectFromChangeInTaxRate" unitRef="BRL" id="Tag2911" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,577</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:TaxEffectFromChangeInTaxRate" unitRef="BRL" id="Tag1105" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:TaxEffectFromChangeInTaxRate" unitRef="BRL" id="Tag1093" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; margin: 0pt; text-indent: 10pt; height: 20px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <span>Amortization of the effects on formation of joint ventures </span><sup><span>(iv)</span></sup> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20211231_5" name="csan:TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" unitRef="BRL" id="Tag2937" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">402,571</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20201231_4" name="csan:TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" unitRef="BRL" id="Tag6102" xsi:nil="true"></ix:nonFraction>&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><ix:nonFraction contextRef="D20191231" name="csan:TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" unitRef="BRL" id="Tag2877" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Goodwill amortization effect&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:TaxEffectOfImpairmentOfGoodwill" unitRef="BRL" id="Tag2985" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,271</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:TaxEffectOfImpairmentOfGoodwill" unitRef="BRL" id="Tag6569" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,271</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:TaxEffectOfImpairmentOfGoodwill" unitRef="BRL" id="Tag3004" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,271</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span>Other</span><sup><span> (v) (vi)</span></sup> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" unitRef="BRL" id="Tag6185" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">66,355</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" unitRef="BRL" id="Tag2907" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,207</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" unitRef="BRL" id="Tag23" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">71,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Income tax and social contribution - current and deferred </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag19" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">445,584</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag289" decimals="-3" scale="3" format="ixt:num-dot-decimal">502,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:IncomeTaxExpenseContinuingOperations" unitRef="BRL" id="Tag2915" decimals="-3" scale="3" format="ixt:num-dot-decimal">779,596</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Effective rate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AverageEffectiveTaxRate" unitRef="Pure" id="Tag2921" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.13</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AverageEffectiveTaxRate" unitRef="Pure" id="Tag1089" decimals="4" scale="-2" format="ixt:num-dot-decimal">25.25</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:AverageEffectiveTaxRate" unitRef="Pure" id="Tag6386" decimals="4" scale="-2" format="ixt:num-dot-decimal">21.29</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="border-right: none; border-left: none;">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="text-align: right; vertical-align: top; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="padding: 1px 1px 7px;"><br/></td>
<td style="text-align: justify; padding: 1px 1px 7px;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote18"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount of R$<ix:nonFraction contextRef="D20211231_5" name="csan:DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag2742" decimals="-3" scale="3" format="ixt:num-dot-decimal">129,792</ix:nonFraction><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, referring to the amortization of the surplus value of&#160;</span>Raizen<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, is treated as a temporary difference.</span></span></ix:footnote></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 2%;"><br/></td>
<td style="text-align: justify; width: 95%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote25"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary&#160;</span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;recognized an extemporaneous credit in the amount of R$&#160;<ix:nonFraction contextRef="D20211231_ComgasMember" name="csan:ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" unitRef="BRL" id="Tag1157" decimals="-3" scale="3" format="ixt:num-dot-decimal">358,898</ix:nonFraction><span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;(R$&#160;<ix:nonFraction contextRef="D20211231_ComgasMember" name="csan:ICMSBenefitExtemporaneousTaxCredits" unitRef="BRL" id="Tag2879" decimals="-3" scale="3" format="ixt:num-dot-decimal">290,745</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;principal and R$&#160;<ix:nonFraction contextRef="D20211231_ComgasMember" name="csan:ICMSBenefitExtemporaneousTaxCreditsInterest" unitRef="BRL" id="Tag2902" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,152</ix:nonFraction><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;interest), used through its offset against IRPJ, CSLL, PIS and COFINS payable due in the year , related to the overpayments of Income Taxes (<span style="font-style: italic;">Imposto de Renda Pessoa Jur&#237;dica</span>), or &#8220;IRPJ,&#8221; and Social Contribution on Net Profits (Contribui&#231;&#227;o Social sobre o Lucro L&#237;quido), or &#8220;CSLL&#8221;, in the years 2015, 2016 and 2019, when this benefit was not computed in the calculation of the IRPJ and CSLL due by the Company, due to the non-taxation of the benefit of the reduction in the tax base of ICMS in the State of S&#227;o Paulo from (<ix:nonFraction contextRef="D20211231_BottomOfRangeMember_StateVatIcmsCreditsMember" name="csan:TaxBaseOfICMS" unitRef="Pure" id="Tag2903" decimals="2" scale="-2" format="ixt:num-dot-decimal">12</ix:nonFraction><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% to<ix:nonFraction contextRef="D20211231_TopOfRangeMember_StateVatIcmsCreditsMember" name="csan:TaxBaseOfICMS" unitRef="Pure" id="Tag6117" decimals="3" scale="-2" format="ixt:num-dot-decimal">15.6</ix:nonFraction>&#160;<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% pursuant to art. 8 of Annex II of the ICMS Regulation, approved by State Decree No. 45,900 (&#8220;RICMS/SP&#8221;), as amended by State Decree No. 62,399/2016. These credits were recognized by the Company based on its best understanding of the subject, substantiated by the opinion of its external legal advisors, which took into account all the jurisprudence applicable to the subject. The Company also considered all the accounting rules in force, which, after being analyzed together, did not indicate any other accounting effect to be recognized.</span></span></span></span></span></span></span></span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_53D5FL69SW00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-97</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="border-left: none; border-right: none;">
<table style="width: 100%; margin-left: 0.1px; height: 119px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 34px;">
<td style="text-align: right; vertical-align: top; height: 34px; width: 3%; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="vertical-align: top; height: 34px; width: 2%; padding: 1px 1px 7px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 34px; width: 95%; padding: 1px 1px 7px;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote19"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">After January 1, 2021, the subsidiary&#160;</span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;changed its tax procedure, excluding the benefit of the reduction in the ICMS tax base, granted by the State of&#160;</span>S&#227;o<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo, directly from the calculation of IR and CS for the current year.</span></span></ix:footnote></td>
</tr>
<tr style="height: 17px;">
<td style="text-align: right; vertical-align: top; height: 17px; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td style="vertical-align: top; height: 17px; padding: 1px 1px 7px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 17px; padding: 1px 1px 7px;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote20"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Reversal of deferred income tax and social contribution liabilities on the amortization of fair value related to the gain recorded in the formation of&#160;</span>Ra&#237;zen</span></ix:footnote></td>
</tr>
<tr style="height: 34px;">
<td style="text-align: right; vertical-align: top; height: 34px; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
<td style="vertical-align: top; height: 34px; padding: 1px 1px 7px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 34px; padding: 1px 1px 7px;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote21"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company reversed the deferred IRPJ and CSLL in the amount of R$<ix:nonFraction contextRef="D20211231_CosanInvestimentoseParticipacoesSAMember_1" name="ifrs-full:DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" unitRef="BRL" id="Tag2997" decimals="-3" scale="3" format="ixt:num-dot-decimal">284,738</ix:nonFraction><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, on the interest on the put option in the investment transaction, which involved CIP</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and the banks, as a result of the settlement of the put option see Note 2.</span></span></span></ix:footnote></td>
</tr>
<tr style="height: 34px;">
<td style="text-align: right; vertical-align: top; height: 34px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vi)</span></td>
<td style="vertical-align: top; height: 34px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 34px;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote22"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considering the effects of the judgment of STF RE No.&#160;1,063,187, dated September 24, 2021, it concluded that certain financial effects related to the equity recomposition in the event of repetition of undue taxes should not form the basis of the company's taxable income. Company and its subsidiaries the amount of R$</span><ix:nonFraction contextRef="I20211231_TaxContingentLiabilityMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag2960" decimals="-3" scale="3" format="ixt:num-dot-decimal">370,564</ix:nonFraction>.</ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDeferredTaxesExplanatory" id="Tag6175" escape="true">
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Deferred income tax assets and liabilities</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The tax effects of temporary differences that give rise to significant portions of the Company&#8217;s deferred tax assets and liabilities are presented below:</span></p>
<div id="t_ft_A15JXBE5AO00000000000000000000b">
<table cellpadding="0" style="height: 331px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets credits of: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1%;"></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxIncomeTaxLossCarryForwards" unitRef="BRL" id="Tag1109" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,987,069</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxIncomeTaxLossCarryForwards" unitRef="BRL" id="Tag2942" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,574,260</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Social contribution losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxSocialContributionTaxLossCarryForwards" unitRef="BRL" id="Tag6545" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,087,742</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxSocialContributionTaxLossCarryForwards" unitRef="BRL" id="Tag3005" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">929,432</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Temporary differences </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share-based payment transactions </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsShareBasedPayments" unitRef="BRL" id="Tag2863" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">50,114</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsShareBasedPayments" unitRef="BRL" id="Tag2972" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,129</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Allowance for expected credit losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsAllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag2843" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">28,948</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsAllowanceForDoubtfulAccounts" unitRef="BRL" id="Tag6072" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">31,416</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit sharing </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsProfitSharing" unitRef="BRL" id="Tag2984" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">111,931</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsProfitSharing" unitRef="BRL" id="Tag2893" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">41,080</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax credit losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetImpairmentOfTaxCredit" unitRef="BRL" id="Tag1102" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">81,918</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetImpairmentOfTaxCredit" unitRef="BRL" id="Tag6107" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">83,833</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on preferred shareholders payable in subsidiaries </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsInterestOnEquity" unitRef="BRL" id="Tag2873" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsInterestOnEquity" unitRef="BRL" id="Tag6104" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">167,412</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Post-employment benefits </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetProvisionsForEmployeeBenefits" unitRef="BRL" id="Tag2841" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">160,082</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetProvisionsForEmployeeBenefits" unitRef="BRL" id="Tag2909" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">200,461</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss allowances for impairment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsImpairmentOfAssets" unitRef="BRL" id="Tag6184" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">193,207</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsImpairmentOfAssets" unitRef="BRL" id="Tag6096" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">226,092</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision for legal proceedings </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetLegalProceedingsProvision" unitRef="BRL" id="Tag2851" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">374,369</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetLegalProceedingsProvision" unitRef="BRL" id="Tag6533" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">288,967</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Miscellaneous expense allowance </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetMiscellaneousProvisions" unitRef="BRL" id="Tag2908" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">401,423</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetMiscellaneousProvisions" unitRef="BRL" id="Tag2858" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">366,224</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Review of useful life of property, plant and equipment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" unitRef="BRL" id="Tag1099" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" unitRef="BRL" id="Tag2846" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">399,537</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsLeaseTransactions" unitRef="BRL" id="Tag2918" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">431,629</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsLeaseTransactions" unitRef="BRL" id="Tag1114" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange - Loans and borrowings </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsForeignCurrencyLosses" unitRef="BRL" id="Tag2943" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,667,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsForeignCurrencyLosses" unitRef="BRL" id="Tag6069" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,962,892</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 20px;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other&#160;<sup>(i)</sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsOtherTemporaryDifferences" unitRef="BRL" id="Tag2979" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">300,307</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsOtherTemporaryDifferences" unitRef="BRL" id="Tag2913" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">242,018</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 10px; background-color: #cceeff;"></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsTemporaryDifferencesNet" unitRef="BRL" id="Tag2934" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,876,239</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsTemporaryDifferencesNet" unitRef="BRL" id="Tag2993" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,532,753</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">(</span><span style="font-weight: bold;">-) Deferred</span><span style="font-weight: bold;"> taxes assets net not recognized </span><span style="font-size: 8pt;"><sup>(ii)</sup></span></span></p>
</td>
<td colspan="2" style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxAssetsNotRecognised" unitRef="BRL" id="Tag2856" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,483,035</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxAssetsNotRecognised" unitRef="BRL" id="Tag6070" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,318,998</ix:nonFraction> </span></p>
</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
<div>
<div id="t_ft_262GLKYQ7400000000000000000000b">
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-98</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</ix:exclude>
</div>
</div>
<div id="t_ft_BP94I4IA6800000000000000000000b">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table cellpadding="0" style="height: 286px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities credits of: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.987%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Temporary differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;" colspan="2"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value option to loans </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesFairValueOptionInLoans" unitRef="BRL" id="Tag2990" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">127,318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesFairValueOptionInLoans" unitRef="BRL" id="Tag2847" decimals="-3" scale="3" format="ixt:num-dot-decimal">526,001</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value amortization of the property, plant and equipment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" unitRef="BRL" id="Tag2882" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">15,976</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" unitRef="BRL" id="Tag2853" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,640</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesLeaseTransactions" unitRef="BRL" id="Tag6293" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesLeaseTransactions" unitRef="BRL" id="Tag288" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,460</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax deductible goodwill </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesTaxDeductibleGoodwill" unitRef="BRL" id="Tag30" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">331,404</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesTaxDeductibleGoodwill" unitRef="BRL" id="Tag2967" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">839,939</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 20px; background-color: #cceeff; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesInvestmentProperties" unitRef="BRL" id="Tag2741" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">100,197</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesInvestmentProperties" unitRef="BRL" id="Tag2976" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesMarketableSecurities" unitRef="BRL" id="Tag2876" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">62,593</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesMarketableSecurities" unitRef="BRL" id="Tag18" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;"></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provision for realization - Goodwill recorded in equity <sup>(iii)</sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" unitRef="BRL" id="Tag2974" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">449,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" unitRef="BRL" id="Tag6100" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income on formation of joint ventures </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesGainOnFormationOfJointVentures" unitRef="BRL" id="Tag2864" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">668,508</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesGainOnFormationOfJointVentures" unitRef="BRL" id="Tag32" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,135,036</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Unrealized gains on derivatives instruments </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesUnrealizedGainsLossesOnDerivativesInstruments" unitRef="BRL" id="Tag1095" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,034,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesUnrealizedGainsLossesOnDerivativesInstruments" unitRef="BRL" id="Tag17" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,206,216</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Review of useful life of property, plant and equipment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" unitRef="BRL" id="Tag6574" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">53,347</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" unitRef="BRL" id="Tag2969" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value amortization of the intangible asset </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" unitRef="BRL" id="Tag2" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,551,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" unitRef="BRL" id="Tag24" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,603,568</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesOtherTemporaryDifferences" unitRef="BRL" id="Tag6387" decimals="-3" scale="3" format="ixt:num-dot-decimal">235,073</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesOtherTemporaryDifferences" unitRef="BRL" id="Tag2924" decimals="-3" scale="3" format="ixt:num-dot-decimal">282,212</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 10px; background-color: #cceeff; width: 1.08063%;"></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="csan:DeferredTaxLiabilitiesTemporaryDifferences" unitRef="BRL" id="Tag6095" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">6,159,632</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231" name="csan:DeferredTaxLiabilitiesTemporaryDifferences" unitRef="BRL" id="Tag6101" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,004,646</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total deferred taxes recorded, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxLiabilityAsset" unitRef="BRL" id="Tag1103" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">766,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:DeferredTaxLiabilityAsset" unitRef="BRL" id="Tag290" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,790,891</ix:nonFraction> </span></p>
</td>
<td style="height: 20px; background-color: #cceeff; width: 1.08063%; padding: 0px 0px 2px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Deferred tax assets </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag3002" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,051,628</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag2932" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,900,241</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Deferred tax liabilities </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxLiabilities" unitRef="BRL" id="Tag2881" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,818,056</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:DeferredTaxLiabilities" unitRef="BRL" id="Tag2740" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,691,132</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 10px; background-color: #cceeff; width: 1.08063%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
<p style="text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><br/></p>
<div id="t_ft_0AV8T6YUNK00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 2%; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 98%; vertical-align: top;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote23"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers mainly to tax losses and temporary differences of the Company,&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Sul<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Oeste<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, which, under current conditions, do not meet the requirements for accounting for said income tax and social contribution assets deferred due to the lack of predictability of future generation of tax profits.</span></span></ix:footnote></td>
</tr>
<tr>
<td style="vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote24"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Provision for accounting realization of tax loss recognized in the capital contribution in a subsidiary.</span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfChangesInDeferredIncomeTaxesExplanatory" id="Tag6133" escape="true">
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Changes in deferred income tax</span></span></p>
<div id="t_ft_K7FO2HEYPS00000000000000000000b">
<table cellpadding="0" style="height: 258px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Tax loss and negative basis </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Employee benefits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Provisions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Post-employment benefits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Property, plant and equipment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Unregistered credits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2855" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,915,329</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag6189" decimals="-3" scale="3" format="ixt:num-dot-decimal">73,866</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2947" decimals="-3" scale="3" format="ixt:num-dot-decimal">963,637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2926" decimals="-3" scale="3" format="ixt:num-dot-decimal">214,496</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_PropertyDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2927" decimals="-3" scale="3" format="ixt:num-dot-decimal">408,581</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2941" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,198,164</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_OtherDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag1096" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,177,857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_DeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag78" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,555,602</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6109" decimals="-3" scale="3" format="ixt:num-dot-decimal">587,315</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2920" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">13,657</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2739" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,612</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2965" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,958</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PropertyDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2872" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">9,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2991" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">120,834</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2850" decimals="-3" scale="3" format="ixt:num-dot-decimal">113,454</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_DeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6098" decimals="-3" scale="3" format="ixt:num-dot-decimal">570,580</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2994" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,048</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2867" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag1090" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,505</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag1112" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">28,993</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PropertyDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2898" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2957" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag14" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,930</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_DeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2933" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,490</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag6073" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag1094" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2892" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2922" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_PropertyDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag6094" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2948" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_OtherDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2989" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,041,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_DeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag3014" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,041,083</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag29" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,503,692</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag6573" decimals="-3" scale="3" format="ixt:num-dot-decimal">60,209</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2910" decimals="-3" scale="3" format="ixt:num-dot-decimal">996,530</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag27" decimals="-3" scale="3" format="ixt:num-dot-decimal">200,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_PropertyDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2862" decimals="-3" scale="3" format="ixt:num-dot-decimal">399,537</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2930" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,318,998</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_OtherDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2875" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,372,324</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_DeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag1088" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,213,755</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6110" decimals="-3" scale="3" format="ixt:num-dot-decimal">565,197</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag76" decimals="-3" scale="3" format="ixt:num-dot-decimal">101,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag1115" decimals="-3" scale="3" format="ixt:num-dot-decimal">93,396</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2848" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">12,737</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PropertyDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag1116" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">433,371</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6187" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">163,890</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_OtherDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag1101" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,642,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_DeferredTaxAssetsMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6071" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,491,712</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2868" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag97" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag3007" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2895" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">27,642</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PropertyDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2970" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2956" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">147</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherDeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag21" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,035</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_DeferredTaxAssetsMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2982" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">7,754</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Recognized in equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag2885" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,878</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag2935" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag2998" decimals="-3" scale="3" format="ixt:num-dot-decimal">68</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag1092" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PropertyDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag79" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag2880" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherDeferredTaxAssetsMember" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag1104" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" unitRef="BRL" id="Tag2919" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,213</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business combination (Note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2905" decimals="-3" scale="3" format="ixt:num-dot-decimal">44</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2966" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag6572" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">10,129</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2884" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PropertyDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2901" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">19,513</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2870" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2899" xsi:nil="true"></ix:nonFraction> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_DeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2869" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">29,598</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag96" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2916" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag3000" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag3873" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PropertyDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2992" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2975" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_OtherDeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag6116" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,213,324</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_DeferredTaxAssetsMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag12" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,213,324</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_TaxLossAndNegativeBasisDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag6106" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,074,811</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_EmployeeBenefitsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2936" decimals="-3" scale="3" format="ixt:num-dot-decimal">162,045</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_ProvisionsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag6384" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,079,865</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PostEmploymentObligationsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2852" decimals="-3" scale="3" format="ixt:num-dot-decimal">160,082</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PropertyDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2958" decimals="-3" scale="3" format="ixt:num-dot-decimal">53,347</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_UnregisteredCreditsDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag2883" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,483,035</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OtherDeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag6099" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,967,807</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_DeferredTaxAssetsMember" name="ifrs-full:NetDeferredTaxAssets" unitRef="BRL" id="Tag28" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,908,228</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div>
<ix:exclude>
<div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_NMGAFAEE7K00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-99</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</ix:exclude>
</div>
<div style="border-left: none; border-right: none;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 229px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Effects on the formation of joint ventures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Intangible assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Unrealized gains on derivatives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Fair value adjustment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 24%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag292" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,135,036</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag26" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,663,085</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag3008" decimals="-3" scale="3" format="ixt:num-dot-decimal">923,672</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2940" decimals="-3" scale="3" format="ixt:num-dot-decimal">36,346</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2874" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">174,597</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2889" decimals="-3" scale="3" format="ixt:num-dot-decimal">248,060</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2946" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,831,602</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2988" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6382" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,517</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag3001" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,282,808</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2978" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,667</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2944" decimals="-3" scale="3" format="ixt:num-dot-decimal">351,405</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2859" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">311,745</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2840" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,172,964</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2914" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2983" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag3006" decimals="-3" scale="3" format="ixt:num-dot-decimal">264</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag291" decimals="-3" scale="3" format="ixt:num-dot-decimal">220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2939" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2854" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">34</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag6114" decimals="-3" scale="3" format="ixt:num-dot-decimal">450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business combination </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2894" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag6111" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2987" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag6105" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2996" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2844" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">530</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2968" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">530</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2995" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,135,036</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag3009" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,603,568</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2670" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,206,216</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2959" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,459</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2900" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,002</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2928" decimals="-3" scale="3" format="ixt:num-dot-decimal">560,369</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag1113" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,004,646</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2857" decimals="-3" scale="3" format="ixt:num-dot-decimal">466,528</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2891" decimals="-3" scale="3" format="ixt:num-dot-decimal">51,732</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag1091" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,063,297</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2866" decimals="-3" scale="3" format="ixt:num-dot-decimal">456,858</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2896" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">653,320</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2890" decimals="-3" scale="3" format="ixt:num-dot-decimal">126,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" unitRef="BRL" id="Tag2842" decimals="-3" scale="3" format="ixt:num-dot-decimal">450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2938" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2925" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><ix:nonFraction contextRef="D20211231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2707" decimals="-3" scale="3" format="ixt:num-dot-decimal">108,546</ix:nonFraction></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><ix:nonFraction contextRef="D20211231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag1107" decimals="-3" scale="3" format="ixt:num-dot-decimal">230</ix:nonFraction></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><ix:nonFraction contextRef="D20211231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2849" xsi:nil="true"></ix:nonFraction>&#8212;</p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag2743" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">127,076</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" unitRef="BRL" id="Tag6381" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">18,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business combination (Note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2878" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag22" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2973" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag15" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag2964" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag34" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">163,284</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" unitRef="BRL" id="Tag16" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">163,284</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2021</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2999" decimals="-3" scale="3" format="ixt:num-dot-decimal">668,508</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_IntangibleDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2929" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,551,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2860" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,034,373</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_LeasesDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2963" decimals="-3" scale="3" format="ixt:num-dot-decimal">431,629</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2839" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">127,318</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_OtherDeferredTaxLiabilitiesMember" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag6108" decimals="-3" scale="3" format="ixt:num-dot-decimal">724,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:NetDeferredTaxLiabilities" unitRef="BRL" id="Tag2861" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,674,656</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total deferred taxes recorded </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxLiabilityAsset" unitRef="BRL" id="Tag1097" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">766,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company evaluated the period for offsetting its deferred tax assets on tax losses, negative basis of social contribution and temporary differences through the projection of its taxable income. In the year ended December 31, 2021, the Company continued to monitor the observed impacts of the COVID-19 pandemic and evaluated the impacts of the increase in interest rates and judged that the potential effects should not affect the medium and long-term projections to point of harming the realization of balances. The results projected by the Company generate the following expected realization on December 31, 2021:&#160;&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" id="Tag6093" escape="true">
<table cellpadding="0" style="height: 140px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin: 0px; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 17px; width: 87%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Within 1 year </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_NotLaterThanOneYearMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag6103" decimals="-3" scale="3" format="ixt:num-dot-decimal">266,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 1 to 2 years </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanOneYearAndNotLaterThanTwoYearsMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag2945" decimals="-3" scale="3" format="ixt:num-dot-decimal">277,527</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 2 to 3 years </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag2871" decimals="-3" scale="3" format="ixt:num-dot-decimal">322,779</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 3 to 4 years </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanThreeYearsAndNotLaterThanFourYearsMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag2897" decimals="-3" scale="3" format="ixt:num-dot-decimal">329,506</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 4 to 5 years </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanFourYearsAndNotLaterThanFiveYearsMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag6183" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,582</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 5 to 8 years </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanFiveYearsAndNotLaterThanEightYearsMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag6112" decimals="-3" scale="3" format="ixt:num-dot-decimal">976,496</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 8 to 10 years </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LaterThanEightYearsAndNotLaterThanTenYearsMember" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag2912" decimals="-3" scale="3" format="ixt:num-dot-decimal">528,129</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:DeferredTaxAssets" unitRef="BRL" id="Tag2961" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,051,628</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div><div id="Normadiv47" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfProvisionsExplanatory" id="Tag4237" escape="true">
<div style="margin: 0 auto;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">16.&#160; Provision for legal proceedings and judicial deposits</span></p>
<p style="margin: 9pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provisions for legal proceedings are recognized as other expenses when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The assessment of probability loss includes the available evidence, hierarchy of laws, jurisprudence, the most recent court decisions and relevance in the legal system, as well as the opinion of outside counsel. Provisions are reviewed and adjusted according to circumstances, such as limitation period, conclusions of tax inspections or additional exposures identified based on new matters or court decisions.</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provisions for legal proceedings resulting from business combinations are estimated at fair value at acquisition date.</span></p>
</div>
<div>
<div id="t_ft_G5A1ZPN9V400000000000000000000b">
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-100</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
</div>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<div style="border-right: none; border-left: none;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company had provision for legal proceedings and judicial deposits recorded at December 31, 2021 and 2020 in respect of:</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfContingentLiabilitiesExplanatory" id="Tag6130" escape="true">
<table cellpadding="0" style="height: 103px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Provision for legal proceedings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td colspan="5" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Judicial deposit </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 53%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3919" decimals="-3" scale="3" format="ixt:num-dot-decimal">647,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4161" decimals="-3" scale="3" format="ixt:num-dot-decimal">635,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionTaxMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4180" decimals="-3" scale="3" format="ixt:num-dot-decimal">500,484</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionTaxMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag2837" decimals="-3" scale="3" format="ixt:num-dot-decimal">462,197</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Civil, environmental and regulatory </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CivilEnvironmentalAndRegulatoryClaimsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag7024" decimals="-3" scale="3" format="ixt:num-dot-decimal">585,034</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CivilEnvironmentalAndRegulatoryClaimsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4162" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,769</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CivilEnvironmentalAndRegulatoryClaimsMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag6993" decimals="-3" scale="3" format="ixt:num-dot-decimal">169,857</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CivilEnvironmentalAndRegulatoryClaimsMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag3706" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,833</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Labor </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionLaborMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4150" decimals="-3" scale="3" format="ixt:num-dot-decimal">411,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionLaborMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3705" decimals="-3" scale="3" format="ixt:num-dot-decimal">374,723</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionLaborMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4204" decimals="-3" scale="3" format="ixt:num-dot-decimal">252,720</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionLaborMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4165" decimals="-3" scale="3" format="ixt:num-dot-decimal">272,812</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag103" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,644,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4144" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,360,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag3513" decimals="-3" scale="3" format="ixt:num-dot-decimal">923,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4183" decimals="-3" scale="3" format="ixt:num-dot-decimal">875,842</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
</div>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfChangesInProvisionExplanatory" id="Tag7019" escape="true">
<p style="margin: 0pt 0pt 10pt 53.85pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt;">Changes in provision for legal proceedings:</span><br/></p>
<div style="border-right: none; border-left: none;">
<div id="t_ft_LMKULNV2XC00000000000000000000b">
<table cellpadding="0" style="height: 182px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 23px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 52.9461%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Tax </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 10.0415%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Civil, environmental and regulatory </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Labor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag6789" decimals="-3" scale="3" format="ixt:num-dot-decimal">589,180</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4143" decimals="-3" scale="3" format="ixt:num-dot-decimal">332,527</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_LegalProceedingsProvisionLaborMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4137" decimals="-3" scale="3" format="ixt:num-dot-decimal">432,464</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3840" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,354,171</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provisions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionTaxMember" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4179" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,443</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4158" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,989</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionLaborMember" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4142" decimals="-3" scale="3" format="ixt:num-dot-decimal">68,049</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4201" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,481</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Settlement / Write-offs </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionTaxMember" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag4185" decimals="-3" scale="3" format="ixt:num-dot-decimal">11,947</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.0415%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag4153" decimals="-3" scale="3" format="ixt:num-dot-decimal">76,772</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionLaborMember" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag4130" decimals="-3" scale="3" format="ixt:num-dot-decimal">134,071</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag4182" decimals="-3" scale="3" format="ixt:num-dot-decimal">222,790</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.07884%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange rate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionTaxMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" unitRef="BRL" id="Tag3699" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" unitRef="BRL" id="Tag4174" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionLaborMember" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" unitRef="BRL" id="Tag4193" decimals="-3" scale="3" format="ixt:num-dot-decimal">109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" unitRef="BRL" id="Tag4202" decimals="-3" scale="3" format="ixt:num-dot-decimal">109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest<sup> (i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionTaxMember" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag2836" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,730</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10.0415%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag4160" decimals="-3" scale="3" format="ixt:num-dot-decimal">48,025</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_LegalProceedingsProvisionLaborMember" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag4178" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,172</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag4169" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,927</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4170" decimals="-3" scale="3" format="ixt:num-dot-decimal">635,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag6334" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,769</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionLaborMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4186" decimals="-3" scale="3" format="ixt:num-dot-decimal">374,723</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag2833" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,360,898</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provisions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionTaxMember" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag6795" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,559</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.0415%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4218" decimals="-3" scale="3" format="ixt:num-dot-decimal">103,805</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionLaborMember" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4206" decimals="-3" scale="3" format="ixt:num-dot-decimal">114,596</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdditionalProvisionsOtherProvisions" unitRef="BRL" id="Tag4149" decimals="-3" scale="3" format="ixt:num-dot-decimal">242,960</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Settlement / Write-offs </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionTaxMember" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag4163" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,331</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag4181" decimals="-3" scale="3" format="ixt:num-dot-decimal">56,931</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionLaborMember" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag6784" decimals="-3" scale="3" format="ixt:num-dot-decimal">117,238</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:UnusedProvisionReversedOtherProvisions" unitRef="BRL" id="Tag3703" decimals="-3" scale="3" format="ixt:num-dot-decimal">189,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionTaxMember" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag87" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,976</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10.0415%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag6788" decimals="-3" scale="3" format="ixt:num-dot-decimal">187,391</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_LegalProceedingsProvisionLaborMember" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag4188" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,336</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:IncreaseDecreaseThroughInterestOtherProvisions" unitRef="BRL" id="Tag4209" decimals="-3" scale="3" format="ixt:num-dot-decimal">229,703</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 52.9461%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4152" decimals="-3" scale="3" format="ixt:num-dot-decimal">647,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 10.0415%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3516" decimals="-3" scale="3" format="ixt:num-dot-decimal">585,034</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionLaborMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag6793" decimals="-3" scale="3" format="ixt:num-dot-decimal">411,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4190" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,644,061</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.07884%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_T0J00OP7B400000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 91%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote26"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes write-off of interest due to reversals.</span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s legal proceedings are secured by assets, cash deposit, bank guarantee or insurance guarantee.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has indemnity actions in addition to those mentioned, which, since they are considered probable, were not recorded because they represent contingent assets.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Probable losses</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Tax</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfPrincipalTaxProceedingsForWhichRiskOfLossIsProbableExplanatory" id="Tag6589" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The principal tax proceedings for which the risk of loss is probable are described below:</span></p>
<div id="t_ft_DBLELFXT0G00000000000000000000b">
<table cellpadding="0" style="height: 132px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 73%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Compensation with FINSOCIAL <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_CompensationWithFINSOCIALMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag90" decimals="-3" scale="3" format="ixt:num-dot-decimal">300,470</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_CompensationWithFINSOCIALMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3515" decimals="-3" scale="3" format="ixt:num-dot-decimal">296,445</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">INSS - Social security <sup>(ii)</sup>&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_InssSocialSecurityContributionsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag86" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,847</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_InssSocialSecurityContributionsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4184" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,928</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">State VAT - ICMS credit <sup>(iii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_StateVatIcmsCreditsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4140" decimals="-3" scale="3" format="ixt:num-dot-decimal">85,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_StateVatIcmsCreditsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3701" decimals="-3" scale="3" format="ixt:num-dot-decimal">93,743</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPI - Excise tax credit - NT <sup>(iv)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_IpiExciseTaxCreditNtMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4145" decimals="-3" scale="3" format="ixt:num-dot-decimal">43,461</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_IpiExciseTaxCreditNtMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag6786" decimals="-3" scale="3" format="ixt:num-dot-decimal">53,697</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Federal income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FederalIncomeTaxesMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag6335" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,553</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FederalIncomeTaxesMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4127" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,508</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> PIS and COFINS </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_PisAndCofinsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag89" decimals="-3" scale="3" format="ixt:num-dot-decimal">28,427</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PisAndCofinsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4164" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,304</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other&#160;&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherClaimsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4175" decimals="-3" scale="3" format="ixt:num-dot-decimal">82,887</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherClaimsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3517" decimals="-3" scale="3" format="ixt:num-dot-decimal">81,781</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3519" decimals="-3" scale="3" format="ixt:num-dot-decimal">647,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4133" decimals="-3" scale="3" format="ixt:num-dot-decimal">635,406</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><br/></p>
<div>
<div style="border-left: none; border-right: none;">
<div style="border-right: none; border-left: none;">
<div id="t_ft_6A06KT180000000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-101</span></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div id="t_ft_SJA8Z80RI800000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 8%; text-align: right; padding: 0px 1px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%; padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="width: 91%; padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote39"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian federal tax authorities denied applications filed by CLE to set off credits derived from undue payments of FINSOCIAL, a social tax levy, against other federal tax debts. Based on a favorable judicial decision, Mobil acquired the right to set off credits of FINSOCIAL against certain COFINS liabilities. However, a subsequent favorable judicial decision granted CLE immunity against the enforcement of such COFINS-related debts. Therefore, previous set-off applications were canceled, because COFINS liabilities ceased to exist, and CLE sought to use the relevant tax credits to set off other federal tax debts. However, the Brazilian federal tax authorities refused to ratify the set-offs, claiming that the COFINS immunity applied only to the fiscal year during which the lawsuit was filed (i.e., in 1992). <ix:nonFraction contextRef="I20211231_CompensationWithFINSOCIALMember_LegalProceedingsProvisionTaxMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4194" decimals="-3" scale="3" format="ixt-sec:numwordsen">No</ix:nonFraction> judicial deposits were made for these proceedings. The provision for these proceedings was R$<ix:nonFraction contextRef="I20201231_CompensationWithFINSOCIALMember_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag3698" decimals="-3" scale="3" format="ixt:num-dot-decimal">296,400</ix:nonFraction> as of December 31, 2020, and R$<ix:nonFraction contextRef="I20191231_LegalProceedingsProvisionTaxMember_CompensationWithFINSOCIALMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4121" decimals="-3" scale="3" format="ixt:num-dot-decimal">293,291</ix:nonFraction> as of December 31, 2019. <ix:nonFraction contextRef="I20211231_CompensationWithFINSOCIALMember_LegalProceedingsProvisionTaxMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4138" decimals="-3" scale="3" format="ixt-sec:numwordsen">No</ix:nonFraction> judicial deposits were made.&#160;</span></ix:footnote></p>
</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">&#160;</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">
<p style="margin: 0pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote40"><span style="font-family: 'times new roman', times; font-size: 10pt;"> The amount provisioned for INSS, among other cases, is represented, essentially, by amounts related to social security contributions levied on billing, pursuant to Article 22-A of the Law No. 8,212/91, whose constitutionality is being challenged in court. Judicial deposits are made monthly. </span></ix:footnote></p>
</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top"><br/></td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">
<p style="margin: 0pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote41"><span style="font-family: 'times new roman', times; font-size: 10pt;">The provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for &#8220;use and consumption&#8221; and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company&#8217;s sugarcane plants and Central Paulista Ltda. A&#231;&#250;car e &#193;lcool; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. <ix:nonFraction contextRef="I20211231_StateVatIcmsCreditsMember_LegalProceedingsProvisionTaxMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag4187" decimals="-3" scale="3" format="ixt-sec:numwordsen">No</ix:nonFraction> judicial deposits have been made in connection with these proceedings. These provisions amounted to R$<ix:nonFraction contextRef="I20201231_StateVatIcmsCreditsMember_LegalProceedingsProvisionTaxMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag6783" decimals="-3" scale="3" format="ixt:num-dot-decimal">93,700</ix:nonFraction> as of December 31, 2020, and R$<ix:nonFraction contextRef="I20191231_LegalProceedingsProvisionTaxMember_StateVatIcmsCreditsMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4128" decimals="-3" scale="3" format="ixt:num-dot-decimal">97,534</ix:nonFraction> as of December 31, 2019.</span></ix:footnote></p>
</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top"><br/></td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">
<p style="margin: 0pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote42"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPI Selectivity proceedings, from November 1992 to December 1995, judged by the STF, using the General Repercussion method (RE No. 592,145, item 080), in the amount of R$<ix:nonFraction contextRef="I20211231_IpiExciseTaxCreditNtMember_LegalProceedingsProvisionTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4146" decimals="-3" scale="3" format="ixt:num-dot-decimal">39,407</ix:nonFraction>, with unfavorable scenario for the Company. </span></ix:footnote></p>
</td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Civil, Environmental and Regulatory Proceedings&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries and jointly controlled entity are parties to a several numbers of civil legal claims related to (1) indemnity for material and moral damages; (2) termination or litigation of in relation to different kinds of agreements (3) public civil claims related to sugarcane stubble burning; (4) environmental matters; and (5) compliance with certain conduct adjustment agreement and other matters. Provisions for civil, regulatory and environmental claims as of December 31, 2021, amounted to R$<ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4173" decimals="-3" scale="3" format="ixt:num-dot-decimal">585,034</ix:nonFraction> and R$<ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="ifrs-full:LongtermLegalProceedingsProvision" unitRef="BRL" id="Tag4205" decimals="-3" scale="3" format="ixt:num-dot-decimal">350,769</ix:nonFraction> as of December 31, 2020. As of December 31, 2021, R$<ix:nonFraction contextRef="I20211231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag3916" decimals="-3" scale="3" format="ixt:num-dot-decimal">169,857</ix:nonFraction> in judicial deposits were made for civil and environmental claims, and this figure was R$<ix:nonFraction contextRef="I20201231_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" name="csan:MandatoryJudicialDepositsForLegalProceedings" unitRef="BRL" id="Tag6575" decimals="-3" scale="3" format="ixt:num-dot-decimal">140,833</ix:nonFraction> as of December 31, 2020. Cosan S.A., its subsidiaries and jointly controlled entities are also parties to a number of regulatory legal proceedings related to (1) collection of fines by the ANTT; (2) discussions on the tariff ceiling imposed by the ANTT; and (3) certain other matters.&#160;<br/></span></p>
</div>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><br/></p>
<div>
<div style="border-left: none; border-right: none;">
<div style="border-right: none; border-left: none;">
<div id="t_ft_NLJSY8Z8HS00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-102</span></td>
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</tbody>
</table>
</div>
</div>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Labor claims</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries are also parties to a number of labor claims filed by former employees and service providers challenging, among other matters, the payment of overtime, night shift premiums and risk premiums, the recognition of employment relationships and the reimbursement of discounts from payroll, such as social contribution and trade union charges. Additionally, we are involved in several labor administrative and judicial proceedings such as labor investigations and class actions filed by the labor prosecutor&#8217;s office regarding alleged non-compliance with certain labor regulations, including work and safety rules, labor conditions and work environment, and social assistance plans. Moreover, we entered into certain consent orders (<span style="font-style: italic;">Termos de Ajustamento de Conduta</span>) with Brazilian authorities and in the event, we fail to comply with such consent orders, we could be subject to fines.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Possible losses</span></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfPrincipalProceedingsForWhichWeDeemRiskOfLossAsPossibleExplanatory" id="Tag4232" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The principal proceedings for which we deem the risk of loss as possible are described below:</span></p>
<div id="t_ft_X8EHJ0N03K00000000000000000000b">
<table cellpadding="0" style="height: 87px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag85" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,647,917</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3700" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,416,966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Civil, environmental and regulatory </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3920" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,905,964</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4159" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,476,470</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Labor </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityLaborMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4148" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,830</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityLaborMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4147" decimals="-3" scale="3" format="ixt:num-dot-decimal">942,352</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4151" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,413,711</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4208" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,835,788</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Tax</span></p>
<div id="t_ft_2ZFLMG3Q7K00000000000000000000b">
<table cellpadding="0" style="height: 207px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Federal income taxes <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_FederalIncomeTaxesMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag2832" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,404,264</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_FederalIncomeTaxesMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3921" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,344,963</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS &#8722; State VAT <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_IcmsStateVatMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3915" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,877,144</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_IcmsStateVatMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag7023" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,042,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">PIS and COFINS &#8722; Revenue taxes <sup>(iii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_PisAndCofinsRevenueTaxesMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4129" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,368,123</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_PisAndCofinsRevenueTaxesMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4157" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,182,933</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IRRF &#8722; Withholding tax<sup> (iv)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_IrrfWithholdingTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4135" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,251,394</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_IrrfWithholdingTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4141" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,227,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Penalties related to tax positions <sup>(v)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_PenaltiesRelatedToTaxPositionsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4131" decimals="-3" scale="3" format="ixt:num-dot-decimal">461,747</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_PenaltiesRelatedToTaxPositionsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4189" decimals="-3" scale="3" format="ixt:num-dot-decimal">473,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPI &#8722; Excise tax credit &#8722; NT <sup>(vi)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_IpiExciseTaxCreditNtMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3702" decimals="-3" scale="3" format="ixt:num-dot-decimal">492,025</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_IpiExciseTaxCreditNtMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4154" decimals="-3" scale="3" format="ixt:num-dot-decimal">455,121</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">MP 470 &#8722; Tax installments <sup>(vii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_Mp470TaxInstallmentsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4168" decimals="-3" scale="3" format="ixt:num-dot-decimal">398,184</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_Mp470TaxInstallmentsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag2835" decimals="-3" scale="3" format="ixt:num-dot-decimal">357,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">INSS &#8722; Social security and other <sup>(viii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_InssSocialSecurityAndOtherMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4167" decimals="-3" scale="3" format="ixt:num-dot-decimal">180,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_InssSocialSecurityAndOtherMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3518" decimals="-3" scale="3" format="ixt:num-dot-decimal">226,807</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Compensation with IPI &#8722; IN 67/<span style="border-left: none; border-right: none;">98 <sup>(ix)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_CompensationWithIpiIn6798Member" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3514" decimals="-3" scale="3" format="ixt:num-dot-decimal">186,048</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_CompensationWithIpiIn6798Member" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag6794" decimals="-3" scale="3" format="ixt:num-dot-decimal">183,585</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_GoodwillRumoMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3917" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_GoodwillRumoMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4217" decimals="-3" scale="3" format="ixt:num-dot-decimal">84,953</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Stock option <sup>(x)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_StockOptionClaimsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4203" decimals="-3" scale="3" format="ixt:num-dot-decimal">65,260</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_StockOptionClaimsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag88" decimals="-3" scale="3" format="ixt:num-dot-decimal">63,986</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign financial operation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_ForeignFinancialOperationMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3918" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_ForeignFinancialOperationMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag6787" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,136</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Financial transactions tax on loan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_FinancialTransactionsTaxOnLoanMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4126" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,450</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_FinancialTransactionsTaxOnLoanMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4166" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,886</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Capital gain<sup> (xi)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_CapitalGainMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4172" decimals="-3" scale="3" format="ixt:num-dot-decimal">29,516</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_CapitalGainMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4136" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IOF on Mutual <sup>(xii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_IOFOnMutualMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag6762" decimals="-3" scale="3" format="ixt:num-dot-decimal">136,286</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_IOFOnMutualMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4177" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember_OtherClaimsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4156" decimals="-3" scale="3" format="ixt:num-dot-decimal">788,943</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember_OtherClaimsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag3520" decimals="-3" scale="3" format="ixt:num-dot-decimal">729,141</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 12px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_LegalProceedingsContingentLiabilityTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag2838" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,647,917</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 12px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_LegalProceedingsContingentLiabilityTaxMember" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" unitRef="BRL" id="Tag4155" decimals="-3" scale="3" format="ixt:num-dot-decimal">13,416,966</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 12px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<div style="margin: 0 auto;">
<ix:exclude>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<div>
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<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-103</span></td>
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</tbody>
</table>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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</ix:exclude>
<div id="t_ft_7D0JR9ESNK00000000000000000000b">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;">
<tbody>
<tr>
<td style="vertical-align: top; width: 8%; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; text-align: justify; width: 1%;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote27"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company and its subsidiaries have (a) assessment notices related to the disallowance of deductions from the amortization of goodwill expense; (b) The subsidiary&#160;</span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;was aware of the non-approval of tax debt offsetting carried out in 2015 and 2016, using credits arising from Corporate Income Taxes (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Imposto&#160;de&#160;Renda&#160;Pessoa&#160;Jur&#237;dica</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">&#160;</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8220;IRPJ,&#8221; and Social Contribution on Net Profits (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Contribui&#231;&#227;o&#160;Social&#160;sobre&#160;o&#160;Lucro&#160;L&#237;quido</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;CSLL.&#8221; After administrative discussion, some of the declarations have already been definitively ratified by the Brazil Internal Revenue Service (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Receita&#160;Federal do&#160;Brasil</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">); (c) <ix:nonFraction contextRef="D20211231_NonHomologationOfOffsettingOfTaxCreditMember" name="csan:FederalAndProvincialIncomeTaxRate" unitRef="Pure" id="Tag4139" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% isolated fine tax assessment notices resulting from non-approval. compensation made through PER/DCOMP; and (d) questioning the limitations included in article 74, IX, of Law No. 9,430/96, by article 6 of Law No. 13,670/2018, which restricted the right of companies to proceed with the settlement of the monthly anticipations of IRPJ and CSLL calculated by estimate, through compensation.</span></span></ix:footnote></td>
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<td style="vertical-align: top; width: 8%; text-align: right;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 1%;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;"><br/></td>
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<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top; text-align: justify;"><br/></td>
<td style="vertical-align: top; text-align: justify;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote28"><span style="font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The legal claims related to the ICMS essentially involve: (a) Infraction Notices drawn up by the&#160;</span>S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo State Finance Department (</span>Secretaria<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;da&#160;</span>Fazenda<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;de&#160;</span>S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo), against&#160;</span>Rumo<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Paulista<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, with the reporting of infractions for alleged lack collection of ICMS in the provision of rail transport services for export; improper credit of ICMS for alleged bookkeeping in the Book of Entries of amounts higher than those found in the Tax Books; improper credit of ICMS for acquisitions supposedly classified as use and consumption. Fines of <ix:nonFraction contextRef="D20211231_StateVatIcmsCreditsMember" name="csan:FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" unitRef="Pure" id="Tag6781" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% of the tax amount and <ix:nonFraction contextRef="D20211231_StateVatIcmsCreditsMember" name="csan:PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" unitRef="Pure" id="Tag4171" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% of the amount of credit considered undue were also included. (b) state tax authorities assessed the charges for non-taxation by ICMS on the invoices for the provision of rail freight services for export. All assessments were challenged, since there is a favorable position for taxpayers consolidated in the higher courts, based on the Federal Constitution and Complementary Law 87/1996 (c) the Treasury of the State of&#160;</span>Mato<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Grosso<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;drew up several Terms of Seizure and Deposit (</span>TADs<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">) in order to collect ICMS and a <ix:nonFraction contextRef="D20211231_StateVatIcmsCreditsMember" name="csan:FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" unitRef="Pure" id="Tag6785" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% fine on the value of the fined operations, under the mistaken understanding that the goods exit operations destined for export would be cancelled with the&#160;</span>DACTEs<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;(Auxiliary Document of Electronic Transport Knowledge), with the supposed characterization of untrue documentation, under the terms of articles 35-A and 35-B of State Law 7098/98. The Company and its subsidiaries contest challenge the assessments and demonstrate to the Tax Authorities that the goods transported were duly covered by suitable tax documentation; (d) collection of ICMS, for the years 2018 and 2019, in the acquisition of wagons as a result of the alleged non-exemption provided for by the Tax System for Incentives to the Modernization and Expansion of the Port Structure - REPORTO by the&#160;</span>S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo tax authorities.</span></span></ix:footnote></td>
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<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-104</span></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="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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</ix:exclude>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
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<tbody>
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<td style="vertical-align: top; width: 8%; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="vertical-align: top; width: 1%; text-align: right;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote29"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The administrative demands for PIS and COFINS in&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;subsidiary are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system related to the following items: a) credits launched out of time unaccompanied by prior rectification of tax returns; b) claims on expenses arising from mutual traffic contracts; c) credits related to expenses with services classified as inputs in the activity carried out by the Company that supposedly were not proven during the Inspection; d) credits on expenses with transportation of employees; e) credits related to electricity expenses; f) credits on expenses with machinery rentals and rentals that were not proven in the course of the Inspection; g) credits on expenses on the acquisition of machinery, equipment and other assets incorporated into the subsidiary's fixed assets; and (h) and isolated fine corresponding to <ix:nonFraction contextRef="D20211231_PisAndCofinsMember" name="csan:IsolatedFineRateOfAcquiredAssets" unitRef="Pure" id="Tag2834" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>% of the value of the credits.</span></span></ix:footnote></td>
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<td style="vertical-align: top; width: 8%; text-align: right;"><br/></td>
<td style="vertical-align: top; width: 1%; text-align: right;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;"><br/></td>
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<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
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<td style="vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 10pt;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote30" continuedAt="c9f379a22-b8ee-47e6-9a46-82b9470baa55"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The legal claims related to the IRRF essentially involve: (a) The subsidiary CLE had an assessment notice drawn up for the collection of income tax withheld at source, as a tax officer, due to an alleged capital gain resulting from the acquisition of assets from companies located abroad. (b)&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Paulista<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;had part of its IRPJ credit balance offset partially disallowed by the Federal Revenue Service (</span>Receita<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Federal do&#160;</span>Brasil</ix:footnote><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><ix:continuation id="c9f379a22-b8ee-47e6-9a46-82b9470baa55">) based on the argument that the Company would not be entitled to IRRF offset on swap transactions.</ix:continuation>&#160;</span></span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
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<td style="vertical-align: top; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote31"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Infraction Notices drawn up in the face of&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;to demand differences in IRPJ, CSLL, PIS and COFINS, related to the calendar years 2005 to 2008, due to the following alleged a) undue deduction of the Real Profit and the Calculation Base of CSLL of financial expenses arising from loans entered into with financial institutions abroad, b) undue exclusion of&#160;</span>CSLL's<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Real Profit and Calculation Base of financial income from securities issued by the Government of Austria and the Government of Spain, c) no inclusion, in the Real Profit and in the CSLL Calculation Base, of the gains earned in swap operations, and no taxation of the financial income resulting from such contracts by PIS and COFINS, d) undue exclusion of the Real Profit and the Calculation Base of CSLL, carried out as PIS and COFINS credits, e) undue exclusion of Real Profit and the CSLL Calculation Base carried out as deferred CSLL. f) undue exclusion of taxable income and the CSLL calculation basis made as deferred CSLL; and Violation g) insufficient payment of advances of IRPJ and CSLL, which generated the application of an isolated fine at the percentage of <ix:nonFraction contextRef="D20211231_5" name="csan:IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" unitRef="Pure" id="Tag4132" decimals="2" scale="-2" format="ixt:num-dot-decimal">50</ix:nonFraction>%, together with the fines of <ix:nonFraction contextRef="D20211231_5" name="csan:AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" unitRef="Pure" id="Tag6385" decimals="2" scale="-2" format="ixt:num-dot-decimal">75</ix:nonFraction>%. In 2019, we had definitive success regarding the completeness of the infractions &#8220;a&#8221;, &#8220;b&#8221;, &#8220;d&#8221;, &#8220;e&#8221; and &#8220;f&#8221;, as well as part of the infraction &#8220;c&#8221;, to recognize the possibility of exclusion of the actual profit and the CSLL calculation basis of the revenues arising from the Austrian public debt securities acquired on July 24, 2006 and, as a consequence, of part of the infraction &#8220;g&#8221;, in the extension of the partial cancellation of the item &#8220;c&#8221;. Contingency adjusted for ultimate success. The remainder of item &#8220;g&#8221; remains under administrative discussion. The discussion on the remainder of item &#8220;c&#8221; ended at the administrative level and continued at the judicial level.</span></span></ix:footnote></td>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<td style="vertical-align: top; width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vi)</span></td>
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<td style="vertical-align: top; text-align: justify; width: 91%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote32"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax claims filed by the Brazilian federal government regarding the tax on industrialized products (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Imposto&#160;sobre&#160;produtos&#160;industrializados</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;IPI,&#8221; mainly related to: (i) allegedly due as a result of the removal of certain types of sugar from 1995 to 1997 and from 1992 to 1997. Three of the lawsuits are pending judgment by the lower court, while two of the lawsuits are pending judgment of the appeal filed by the attorney general against the lower court decision rendered in favor of the Company. In addition, to these tax claims, the Company is also a party to other proceedings regarding the IPI imposed on sugar products of certain polarity levels (sugar products with a polarity level of at least 99.5&#186; are exempt from IPI); and (ii) CLE has a requirement of IPI at restricting its constitutional immunity from oil lubricant derived.</span></span></ix:footnote></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vii)</span></td>
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<td style="vertical-align: top; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote33"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazilian federal tax authorities have partially rejected the Company&#8217;s application for payment of federal tax debts with&#160;</span>carryforward<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;losses, pursuant to the payment plan provided for by provisional measure No. 470/2009. The Brazilian federal tax authorities&#8217; notice in this respect stated that Company&#8217;s&#160;</span>carryforward<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;losses are not sufficient to offset the relevant debts.</span></span></ix:footnote></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(viii)</span></td>
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<td style="vertical-align: top; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote34"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The legal proceeding related to INSS payment involve the following: (a) the legality and constitutionality questioning Normative Instruction MPS/SRP N&#186; 03/2005, which restricted the constitutional immunity over social contributions on export revenues through direct sales, consistent with the manner exports made via trading companies are now taxed; (b) assessment of National Rural Apprenticeship Service (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Servi&#231;o&#160;Nacional&#160;de&#160;Aprendizagem&#160;Rural</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;SENAR,&#8221; social contribution on direct and indirect exports, in which the tax authorities disregard the right to constitutional immunity and (c) requirement of social security contribution on stock purchase through stock option plans.</span></span></ix:footnote></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ix)</span></td>
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<td style="vertical-align: top; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote35"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The lawsuits related to the IPI essentially involve: (a) Tax requirement on sugar sales subject to zero rate, due to their polarization degree greater than 99.5&#186; or without IPI, under the terms of the Normative Instruction 67/98 and (b) in the subsidiary CLE tax requirement, on the output of lubricating grease, of a product immune to the collection of IPI, as it is derived from oil.</span></ix:footnote></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(x)</span></td>
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<td style="vertical-align: top; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote36"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax assessments issued against the&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. for the collection of social security contributions (<ix:nonFraction contextRef="D20211231_RumoSAMember" name="csan:SocialSecurityPercentage" unitRef="Pure" id="Tag3704" decimals="2" scale="-2" format="ixt:num-dot-decimal">20</ix:nonFraction>% on the amount paid) of amounts related to the stock option plan granted to employees, managers and third parties. The main reason for the assessment is the alleged remunerative nature.</span></span></ix:footnote></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(xi)</span></td>
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<td style="vertical-align: top; text-align: justify;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote37"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax assessment notices issued by the Federal Revenue Service (</span>Receita<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Federal do&#160;</span>Brasil<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">) in 2011 and 2013 and 2019 against&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;related to a) disallowance of goodwill expense based on future profitability, as well as financial expenses; b) non-taxation of supposed capital gain on the sale of equity interest in a Company of the same economic group; and c) supposed capital gain on the incorporation of shares in companies of the same economic group. In 2019, the subsidiary had definitive success in terms of reducing the capital gain launch base. Contingency adjusted for ultimate success.</span></span></ix:footnote></td>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<td style="vertical-align: top; width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(xii)</span></td>
<td style="vertical-align: top; text-align: justify; width: 1%;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote38"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The lawsuits related to the IOF essentially involve a) The Federal Treasury intends to enforce the levy of IOF on the current accounts maintained by the parent Company for&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and its subsidiaries (most substantial part of the assessment). In the understanding of the tax authorities, the use of an accounting item as advances for expenses to related companies, without a formal loan agreement, characterizes the existence of a current account, and the IOF due must be determined according to the rules specific to revolving credit operations. The tax assessment notices are still being questioned at the administrative level; b) Tax Assessment Notice issued by the Federal Tax Authorities against&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Norte<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;for alleged failure to pay IOF in the period 2017 and 2018, relating to the collection of alleged financial transactions between the group companies, essentially on the remittance of amounts arising from mutual traffic between&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Norte<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Paulista<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, contracts with&#160;</span>Ra&#237;zen<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and other amounts listed in other accounting accounts.</span></span></ix:footnote></td>
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<div style="margin: 0 auto;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span></span>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has not identified effects of IFRIC 23 - <span style="font-style: italic;">Uncertainty over Income Tax Treatments</span> that could significantly affect the Company&#8217;s consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax contingencies refer to tax assessments mainly at the Federal level assessed as possible losses by lawyers and management and, therefore, without a provision being recorded.</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Civil, environment and regulatory</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries are parties to a several numbers of civil legal claims related to (1) indemnity for loss and moral damages; (2) termination or litigation of in relation to different kinds of agreements; (3) environmental matters; and (4) compliance with certain conduct adjustment agreement and other matters</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Labor&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">One of Rumo&#8217;s subsidiaries, Rumo Malha Paulista is currently a party to a public civil action before the labor courts. This proceeding originated in an inspection of the company MS Teixeira, which was hired by Prumo Engenharia Ltda. (&#8220;Prumo Engenharia&#8221;), Rumo&#8217;s subcontractor. The inspecting authority alleged that workers for MS Teixeira were working in conditions that were degrading and analogous to indentured servitude. Prumo Engenharia fully assumed the responsibility for the condition of the employees, including labor and contractual liabilities and all losses resulting from the alleged unlawful working conditions put in place by its subcontractors, and the dismissal agreements of such employees were approved by the Brazilian Ministry of Labor without any participation by Rumo. In addition, a criminal investigation against Rumo was filed, which was later dismissed with the acquittal of Malha Paulista. Notwithstanding the foregoing, the Labor Prosecutor&#8217;s Office filed a public civil action solely against Rumo. Rumo was ordered (in both the first instance and on initial appeal) to comply with several obligations relating to workplace conditions, and pay collective moral damages, as well as fines of R$<ix:nonFraction contextRef="D20211231_RumoSAMember" name="csan:CompensationForMoralDamages" unitRef="BRL" id="Tag6383" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,000</ix:nonFraction>. However, any potential future loss on this lawsuit cannot result in the inclusion of Rumo Malha Paulista on the list maintained by the Brazilian Ministry of Labor of employers who engage in labor irregularities. Rumo appealed to the Regional Appeal Court, but the appeal was dismissed. Rumo appealed again to the Superior Labor Court and this appeal is currently pending.&#160; &#160;&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Contingent assets</span></span></p>
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<td style="width: 9%; padding: 0px 1px; vertical-align: top; text-align: right;" valign="top">(i)</td>
<td style="width: 2%; padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="width: 89%; padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> On March 15, 2017, in case that sets a judicial precedent, the STF granted Extraordinary Appeal No. 574,706 against a decision that required the inclusion of the tax on the circulation of goods and transportation and communication services, a state sales tax (Imposto sobre Circula&#231;&#227;o de Mercadorias e Servi&#231;os), or &#8220;ICMS,&#8221; in the calculation of the tax base of employees&#8217; profit participation program (Programa de Integra&#231;&#227;o Social), or &#8220;PIS,&#8221; and social contribution for social security financing (Contribui&#231;&#227;o para o Financiamento da Seguridade Social), or &#8220;COFINS.&#8221; </span></p>
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<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
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<tr>
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<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There is still an approximate amount of R$<ix:nonFraction contextRef="I20211231_LegalProceedingsContingentAssetsMember" name="csan:ContingentAssetRecognizedForTaxContingencies" unitRef="BRL" id="Tag4134" decimals="-3" scale="3" format="ixt:num-dot-decimal">932,000</ix:nonFraction> of Comg&#225;s, related to exclusion of ICMS from PIS and COFINS tax bases, arising prior to the STF ruling and not considered res judicata, which remains considered as a contingent asset.</span></p>
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<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
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<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top">(ii)</td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> On December 6, 2019, ARSESP published Resolution No. 933, which approved the amount of R$<ix:nonFraction contextRef="I20191206_LegalProceedingsContingentAssetsMember_Arsesp933ResolutionMember_ComgasMember" name="csan:ContingentAssetRecognizedForServiceConcessionArrangement" unitRef="BRL" id="Tag4176" decimals="-3" scale="3" format="ixt:num-dot-decimal">683,358</ix:nonFraction> plus monetary adjustment since April 2018, as a result of the Third Ordinary Tariff Review, to be applied to the value of the assets returned by Comg&#225;s, upon termination of the concession, or to any amounts payable by Comg&#225;s if the concession is renewed, or to any amounts payable in connection with any renewal of the concession agreement, as it comes to be defined by ARSESP, according to Resolution No. 995 of May 27, 2020. With the publication of the aforementioned resolution, there are no more ongoing discussions regarding tariffs related to previous periods with ARSESP. The amount indicated in Resolution No. 933 was not recognized in our financial statements because it does not comply with accounting standards. </span></p>
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<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top"><br/></td>
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<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
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<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top">(iii)</td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> The Company has an indemnity proceeding due to the economic and financial imbalance of the Concession Agreement, with respect to tariff reviews. The right to recovery is the result of the wrong criteria followed for the tariff review. The updated case amount is R$<ix:nonFraction contextRef="I20211231_ComgasMember_LegalProceedingsContingentAssetsMember" name="ifrs-full:EstimatedFinancialEffectOfContingentAssets" unitRef="BRL" id="Tag4207" decimals="-3" scale="3" format="ixt:num-dot-decimal">658,096</ix:nonFraction> as an economic-financial rebalancing of Comg&#225;s.&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-107</span></td>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">17</span>.&#160; &#160; Shareholders&#8217; equity</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;</span><span style="font-weight: bold;">Share capital</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity. Income taxes relating to transaction costs of an equity transaction are accounted for in accordance with policy described in Note 16.</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subscribed capital is R$<ix:nonFraction contextRef="I20211231" name="csan:FullyPaidInIssuedCapital" unitRef="BRL" id="Tag6880" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,365,853</ix:nonFraction> as of December 31, 2021, and R$<ix:nonFraction contextRef="I20201231" name="csan:FullyPaidInIssuedCapital" unitRef="BRL" id="Tag3245" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,727,478</ix:nonFraction> as of December 31, 2020, fully paid in, is represented by <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag3259" decimals="0" format="ixt:num-dot-decimal">1,874,070,932</ix:nonFraction>common shares, outstanding and without par value. According to the bylaws, the authorized capital may be increased up to the limit of R$<ix:nonFraction contextRef="I20211231" name="csan:AmountOfSharesAuthorised" unitRef="BRL" id="Tag3241" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,000,000</ix:nonFraction>.</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 30, 2021, share split was approved at Annual and Extraordinary&#160;General Meeting in the proportion of <span style="-sec-ix-hidden:Tag7157"><span style="border-left: none; border-right: none;">1</span>:<span style="border-left: none; border-right: none;">4</span></span>, All share information prior to April 30, 2021 in the consolidated financial is presented on a split basis.<br/></span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-108</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="text-align: justify; margin: 0 0 10pt 57pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">At December 31, 2021, share capital is composed of the following:&#160;</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Common shares </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % </span></p>
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</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Controlling group </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ControlingGroupMember_OrdinarySharesMember" name="ifrs-full:NumberOfSharesOutstanding" unitRef="Shares" id="Tag6878" decimals="0" format="ixt:num-dot-decimal">672,762,132</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ControlingGroupMember_OrdinarySharesMember" name="csan:PercentageOfSharesOutstanding" unitRef="Pure" id="Tag3244" decimals="4" scale="-2" format="ixt:num-dot-decimal">35.90</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Board of directors and executive officers </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_BoardOfDirectorsAndExecutiveOfficersMember_OrdinarySharesMember" name="ifrs-full:NumberOfSharesOutstanding" unitRef="Shares" id="Tag6875" decimals="0" format="ixt:num-dot-decimal">25,285,335</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_BoardOfDirectorsAndExecutiveOfficersMember_OrdinarySharesMember" name="csan:PercentageOfSharesOutstanding" unitRef="Pure" id="Tag3260" decimals="4" scale="-2" format="ixt:num-dot-decimal">1.35</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Free float </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FreeFloatMember_OrdinarySharesMember" name="ifrs-full:NumberOfSharesOutstanding" unitRef="Shares" id="Tag3292" decimals="0" format="ixt:num-dot-decimal">1,170,582,693</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_FreeFloatMember_OrdinarySharesMember" name="csan:PercentageOfSharesOutstanding" unitRef="Pure" id="Tag3272" decimals="4" scale="-2" format="ixt:num-dot-decimal">62.46</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total of shares </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="ifrs-full:NumberOfSharesOutstanding" unitRef="Shares" id="Tag3287" decimals="0" format="ixt:num-dot-decimal">1,868,630,160</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:PercentageOfSharesOutstanding" unitRef="Pure" id="Tag3257" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.71</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div id="t_ft_XAGISWC8PS00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 35px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Treasury shares </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="csan:TreasurySharesShares" unitRef="Shares" id="Tag3289" decimals="0" format="ixt:num-dot-decimal">5,440,772</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="csan:PercentageOfTreasuryShares" unitRef="Pure" id="Tag6394" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.29</ix:nonFraction>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total of shares </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="ifrs-full:NumberOfSharesIssued" unitRef="Shares" id="Tag6882" decimals="0" format="ixt:num-dot-decimal">1,874,070,932</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="csan:PercentageOfSharesIssued" unitRef="Pure" id="Tag3180" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</ix:nonNumeric>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;b)</span><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Treasury shares</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Treasury shares represent the stocks that are repurchased by the company and are available for specific and limited intents. For accounting purposes, Cosan hold the shares required to meet the future employee share-based payment plans and the volume is treated in the same manner as treasury shares.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2021, the Company had <ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="csan:TreasurySharesShares" unitRef="Shares" id="Tag3243" decimals="0" format="ixt:num-dot-decimal">5,440,772</ix:nonFraction> shares in treasury, whose market price was R$<ix:nonFraction contextRef="I20211231_OrdinarySharesMember" name="csan:MarketValuePricePerShare" unitRef="BRLPerShare" id="Tag3239" decimals="0" format="ixt:num-dot-decimal">21,69</ix:nonFraction>. This reduction refers to: (i) the cancellations of <ix:nonFraction contextRef="D20210202_OrdinarySharesMember" name="csan:NumberOfSharesCancelled" unitRef="Shares" id="Tag6393" decimals="0" format="ixt:num-dot-decimal">10,000,000</ix:nonFraction> shares, equivalent to R$<ix:nonFraction contextRef="D20210202_OrdinarySharesMember" name="ifrs-full:CancellationOfTreasuryShares" unitRef="BRL" id="Tag6390" decimals="-3" scale="3" format="ixt:num-dot-decimal">496,916</ix:nonFraction> resulting from the corporate restructuring process, effective on February 2, 2021, (ii) split of shares issued by the Company on April 30, 2021, of <span style="-sec-ix-hidden:Tag7156"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">1</span></span>:<span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">4</span></span></span>, (iii) repurchase of <ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:NumberOfSharesRepurchased" unitRef="Shares" id="Tag3249" decimals="0" format="ixt:num-dot-decimal">60,000</ix:nonFraction> shares equivalent to R$<ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:AmountOfSharesRepurchased" unitRef="BRL" id="Tag3264" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,778</ix:nonFraction>, and (iv) delivery of <ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" unitRef="Shares" id="Tag6391" decimals="0" format="ixt:num-dot-decimal">1,393,156</ix:nonFraction> shares to members of the share-based compensation plans and (v) sale of <ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" unitRef="Shares" id="Tag3274" decimals="0" format="ixt:num-dot-decimal">363,263</ix:nonFraction> equivalent to R$<ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:AmountOfSharesIssuedUnderShareBasedCriteriaPlan" unitRef="BRL" id="Tag3279" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,603</ix:nonFraction> to members of the share-based criteria plans. The amount of cash received of R$<ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:AmountOfCashReceivedFromExecutives" unitRef="BRL" id="Tag3254" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,428</ix:nonFraction> from the executives generated a gain of R$<ix:nonFraction contextRef="D20211231_OrdinarySharesMember" name="csan:GainGeneratedOnCashReceivedFromExecutives" unitRef="BRL" id="Tag3179" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,825</ix:nonFraction> in the capital reserve item. </span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On March 26, 2021, the Company approved the common share buyback program, with a maximum of <ix:nonFraction contextRef="D20210326_OrdinarySharesMember" name="csan:NumberOfSharesRepurchased" unitRef="Shares" id="Tag3261" decimals="0" format="ixt:num-dot-decimal">68,000,000</ix:nonFraction> shares, representing <ix:nonFraction contextRef="D20210326_OrdinarySharesMember" name="csan:PercentageOfOwnSharesRepurchased" unitRef="Pure" id="Tag3278" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.89</ix:nonFraction>% of the total shares available on the market, with the deadline until September 25, 2022, for the purpose of keeping in treasury, cancellation or sale.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)<span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;&#160;</span>Statutory reserve - special reserve</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Accounting policy</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Its purpose is to reinforce working capital, finance the maintenance, expansion and development of activities that make up the Company's corporate purpose.&#160;<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)<span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;&#160;</span>Legal Reserve</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold; font-style: italic;">Accounting policy</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">It is constituted through the appropriation of <ix:nonFraction contextRef="D20211231_LegalReservesMember" name="csan:PercentageOfReserveAllocationFromNetIncome" unitRef="Pure" id="Tag3285" decimals="2" scale="-2" format="ixt:num-dot-decimal">5</ix:nonFraction>% of the net income for the year up to the limit of <ix:nonFraction contextRef="D20211231_LegalReservesMember" name="csan:ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" unitRef="Pure" id="Tag3250" decimals="2" scale="-2" format="ixt:num-dot-decimal">20</ix:nonFraction>% of the capital stock, pursuant to Law 6,404.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">e)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Dividends</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company's bylaws, at the end of the year, are intended for the minimum mandatory dividend corresponding to <ix:nonFraction contextRef="D20211231_5" name="csan:DividendPayoutPercentage" unitRef="Pure" id="Tag6876" decimals="2" scale="-2" format="ixt:num-dot-decimal">25</ix:nonFraction>% of annual net income adjusted by the equity variation of reserves, pursuant to corporate law.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dividends, allocation of net income for the year and excess profit reserves, as determined in art. 199 of the Brazilian Corporation Law will be the subject of deliberations at the next Annual Shareholders' Meeting.</span></p>
<ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_S9Z1320PQ800000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-109</span></td>
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</tbody>
</table>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</ix:exclude>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfDetailInfprmationOfComponentsOfOtherComprehensiveLossIncomeExplanatory" id="Tag3301" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">f)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Other comprehensive (loss) income</span></span></p>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_88MFXJYQA800000000000000000000b">
<table cellpadding="0" style="height: 145px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comprehensive (loss) income </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3295" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,316,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3294" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">601,415</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3258" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,917,917</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3247" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3256" decimals="-3" scale="3" format="ixt:num-dot-decimal">89,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3182" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,362</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveLossActuarialGainLossMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3240" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">217,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveLossActuarialGainLossMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3242" decimals="-3" scale="3" format="ixt:num-dot-decimal">41,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveLossActuarialGainLossMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6504" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">175,939</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain on measurement of financial instrument </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6396" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3283" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6392" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3282" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3276" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,269</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6881" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,824</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 10px; border-bottom: 2.8pt double #000000; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6877" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,511,204</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; height: 10px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 2.8pt double #000000; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3277" decimals="-3" scale="3" format="ixt:num-dot-decimal">914,332</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 2.8pt double #000000; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3248" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">596,872</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3290" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,524,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3275" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,002,418</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3263" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">521,609</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AociAttributableToNoncontrollingInterest1Member" name="ifrs-full:Equity" unitRef="BRL" id="Tag3246" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20211231_AociAttributableToNoncontrollingInterest1Member" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3273" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">88,086</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="I20211231_AociAttributableToNoncontrollingInterest1Member" name="ifrs-full:Equity" unitRef="BRL" id="Tag3266" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">75,263</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p><br/></p>
<div id="t_ft_35IWVDARJ400000000000000000000b">
<table cellpadding="0" style="height: 147px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comprehensive (loss) income </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3181" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">790,403</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3293" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,099</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3281" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,316,502</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3269" decimals="-3" scale="3" format="ixt:num-dot-decimal">49,281</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3286" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">42,767</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3291" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,514</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveLossActuarialGainLossMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3251" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">180,958</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveLossActuarialGainLossMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3255" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,813</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveLossActuarialGainLossMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3271" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">217,771</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain on measurement of financial instrument&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3238" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3178" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag6395" decimals="-3" scale="3" format="ixt:num-dot-decimal">15,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3284" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,277</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3265" decimals="-3" scale="3" format="ixt:num-dot-decimal">278</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3270" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,555</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 21px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3253" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">905,803</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3288" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">605,401</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3268" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,511,204</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3252" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">805,471</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3177" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">718,556</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_AccumulatedOtherComprehensiveIncomeMember" name="ifrs-full:Equity" unitRef="BRL" id="Tag3262" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,524,027</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;">)</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_AociAttributableToNoncontrollingInterest1Member" name="ifrs-full:Equity" unitRef="BRL" id="Tag3267" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">100,332</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_AociAttributableToNoncontrollingInterest1Member" name="ifrs-full:OtherComprehensiveIncome" unitRef="BRL" id="Tag3280" decimals="-3" scale="3" format="ixt:num-dot-decimal">113,155</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_AociAttributableToNoncontrollingInterest1Member" name="ifrs-full:Equity" unitRef="BRL" id="Tag6879" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,823</ix:nonFraction> </span></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">18</span>.&#160; &#160; Earnings per share</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">a) Basic earnings per share</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Basic earnings per share are calculated by dividing:</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">i. the profit attributable to the owners of the company, excluding any equity service costs other than common shares; and&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ii. by the weighted average number of common shares outstanding during the year, adjusted by the bonus elements in common shares issued during the period and excluding treasury shares, if applicable.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">b) Diluted earnings per share</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Diluted earnings per share adjust the amounts used in determining basic earnings per share to take into account:</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">i. the effect after tax on interest income and other financing costs associated with potential diluting common shares; and</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ii. the weighted average number of additional common shares that would be outstanding, assuming conversion of all potential dilutive common shares.&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-110</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Basic earnings per share are calculated by dividing net earnings by the weighted average number of common shares outstanding during the period. The diluted earnings per share are calculated by adjusting the earnings and the number of shares by the impacts of potentially dilutive instruments.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For the purpose of calculating basic and dilutive earnings per share for all periods presented, the number of ordinary shares outstanding of Cosan S.A., as a result of the corporate reorganization, was reflected retroactively as of January 1, 2019.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 30, 2021, the <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Annual and Extraordinary General Meeting approved a share&#160;</span>split in the proportion of <span style="-sec-ix-hidden:Tag7153">1:4</span>. Consequently, the effect of the share split was retroactively reflected in all periods presented.&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth the calculation of earnings per share (in thousands of Brazilian <span style="font-style: italic;">reais</span>, except per share amounts):&#160;&#160;</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 (restated)</span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 (restated)</span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit attributable to the holders of the </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Company&#8217;s common shares used in the </span></p>
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<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> calculation of basic earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" unitRef="BRL" id="Tag3045" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" unitRef="BRL" id="Tag3055" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" unitRef="BRL" id="Tag3065" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,316,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from continuing operations attributable </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> to the ordinary equity holders of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> used in calculating basic earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" unitRef="BRL" id="Tag3042" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,312,140</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" unitRef="BRL" id="Tag3058" decimals="-3" scale="3" format="ixt:num-dot-decimal">859,482</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" unitRef="BRL" id="Tag3064" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,305,320</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dilutive effect of the share-based plan of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" unitRef="BRL" id="Tag6848" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,249</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" unitRef="BRL" id="Tag3012" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,739</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" unitRef="BRL" id="Tag3053" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">5,714</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit attributable to the holders of the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Company&#8217;s common shares used in the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> calculation of diluted earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" unitRef="BRL" id="Tag3046" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,306,891</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" unitRef="BRL" id="Tag3030" decimals="-3" scale="3" format="ixt:num-dot-decimal">853,743</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" unitRef="BRL" id="Tag3044" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,310,627</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from continuing operations attributable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> to the ordinary equity holders of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> used in calculating diluted earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" unitRef="BRL" id="Tag3048" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,306,891</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" unitRef="BRL" id="Tag3054" decimals="-3" scale="3" format="ixt:num-dot-decimal">853,743</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" unitRef="BRL" id="Tag3029" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,299,606</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Weighted average number of outstanding </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Shares of Cosan&#160;S.A. (in thousands of shares) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:WeightedAverageShares" unitRef="Shares" id="Tag3011" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,834,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:WeightedAverageShares" unitRef="Shares" id="Tag3052" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,834,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:WeightedAverageShares" unitRef="Shares" id="Tag3057" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,834,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dilutive effect of the share-based plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" unitRef="Shares" id="Tag3033" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,687</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" unitRef="Shares" id="Tag3032" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,741</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" unitRef="Shares" id="Tag3051" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,530</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="vertical-align: top; height: 21px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Dilutive </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:AdjustedWeightedAverageShares" unitRef="Shares" id="Tag3060" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,839,220</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:AdjustedWeightedAverageShares" unitRef="Shares" id="Tag3061" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,841,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:AdjustedWeightedAverageShares" unitRef="Shares" id="Tag3062" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,843,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:BasicEarningsLossPerShare" unitRef="BRLPerShare" id="Tag3013" decimals="4" format="ixt:num-dot-decimal">3.4407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:BasicEarningsLossPerShare" unitRef="BRLPerShare" id="Tag3056" decimals="4" format="ixt:num-dot-decimal">0.4685</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:BasicEarningsLossPerShare" unitRef="BRLPerShare" id="Tag3049" decimals="4" format="ixt:num-dot-decimal">0.7175</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diluted </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DilutedEarningsLossPerShare" unitRef="BRLPerShare" id="Tag3035" decimals="4" format="ixt:num-dot-decimal">3.4291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DilutedEarningsLossPerShare" unitRef="BRLPerShare" id="Tag3036" decimals="4" format="ixt:num-dot-decimal">0.4637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:DilutedEarningsLossPerShare" unitRef="BRLPerShare" id="Tag6743" decimals="4" format="ixt:num-dot-decimal">0.7111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Earnings per share from continuing operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:BasicEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag3050" decimals="4" format="ixt:num-dot-decimal">3.4407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:BasicEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag3031" decimals="4" format="ixt:num-dot-decimal">0.4685</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:BasicEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag3043" decimals="4" format="ixt:num-dot-decimal">0.7115</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diluted </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag3047" decimals="4" format="ixt:num-dot-decimal">3.4291</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag3059" decimals="4" format="ixt:num-dot-decimal">0.4637</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations" unitRef="BRLPerShare" id="Tag3063" decimals="4" format="ixt:num-dot-decimal">0.7051</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Dilutive instruments</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s subsidiaries have <ix:nonFraction contextRef="D20211231_5" name="csan:NumberOfCategoriesOfPotentialDilutiveEffects" unitRef="Pure" id="Tag3034" decimals="0" format="ixt-sec:numwordsen">two</ix:nonFraction> categories of potential dilutive effects: share options and put options. For the share options, a calculation is done to determine the effect of the dilution in the profit attributable to shareholders of the parent due the exercise of the share options at subsidiaries. For the put option, is assumed to have been converted into ordinary shares, and the profit attributable to shareholders of the parent is adjusted.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Anti-dilutive instruments</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For the year ended December 31, 2021, <ix:nonFraction contextRef="D20211231_5" name="csan:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" unitRef="Shares" id="Tag6846" decimals="0" format="ixt:num-dot-decimal">45,765,000</ix:nonFraction> shares related to the Cosan&#160;S.A. share buyback plan were not considered in the diluted earnings per share analysis, as they would have an anti-dilutive effect.&#160;</span></p>
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</ix:nonNumeric>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-111</span></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
</div>
</div>
</div><div id="Normadiv50" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfRevenueExplanatory" id="Tag3130" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">19.&#160; &#160; Net sales</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenues from the following main sources:</span></p>
<p style="margin: 0pt 0pt 10pt 35.85pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Sale of products</span></span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Company</span>&#160;operates in the production and distribution of lubricants including the brands Mobil and Comma. Products are sold in contracts identified with individual customers and in sets, as a package of goods or services.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes sales revenues upon delivery to the customer as long as revenue and costs can be measured reliably, receipt of the consideration is probable and there is no continuous involvement of management with the products. Delivery is considered to be the moment when the customer accepts the goods, and the risks and benefits related to the property are transferred.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Some lubricant sales contracts cannot be purchased separately from a package of services. However, the goods and services are clearly distinct in the contracts. This sales modality represents two separate performance obligations and therefore revenue is recognized for each of these performance obligations when control of the respective goods and services is transferred to the customer. The transaction price is allocated to different performance obligations based on the independent selling price, in which revenues are identified, measured and recorded separately. Trade incentives, including cash incentives, discounts and volume rebates, and free or discounted goods or services, are accounted for as a reduction of revenue.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Discounts, rebates, credits, price concessions, performance bonuses and similar incentives are treated as variable consideration and included in the transaction price at the company&#8217;s best estimate and is included in revenue to the extent that it is highly probable that there will be no significant reversal of the cumulative amount of revenue when any pricing uncertainty is resolved.<br/></span></p>
</div>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Logistics services rendered</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenues from the provision of services are recognized when the entity transfers to the counterpart the significant risks and benefits inherent to the provision of services, when it is probable that the economic benefits associated with the transaction will flow to the Company, as well as when its related value and incurred costs can be reliably measured.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Service prices are fixed based on service orders or contracts. The Company&#8217;s revenue is basically comprised of rail freight, road freight, container transport and port elevation services, which is why the above criteria are normally met to the extent that the logistics service is provided. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Deferred Revenue</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Consists in advances received from clients seeking investment in fixed assets in return for a rail service contract requiring future performance of services by the Company. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Natural gas distribution</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is measured based on the consideration specified in a contract with a customer. Revenues from natural gas sales are recorded based on the volume of natural gas sold and its respective tariffs regulated by ARSESP, which provides for <span style="-sec-ix-hidden:Tag7199">five</span>-year tariff cycles, with annual inflation adjustment. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is recognized when the gas is delivered to the delivery points (predetermined in the agreements with each customer) i.e., performance obligation on delivery of gas is satisfied. Customers obtain control of gas when it&#8217;s transferred through pipelines to the customer. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with contractual terms, late payment fees and interests are calculated based on outstanding balances as of invoices original due dates. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The transaction price does not have variable consideration. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenues from the following main sources:<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">i.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Billed revenue</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company provides gas distribution services through the subsidiary Comg&#225;s. The fair value and selling prices of individual services are broadly similar.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Gas distribution revenue is recognized when its value can be measured reliably, being recognized in the income statement in the same period in which the volumes are delivered to customers based on the monthly measurements made.</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">ii.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Unbilled revenue</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Unbilled revenue refers to the portion of gas supplied for which metering and billing to customers have not yet occurred. This amount is estimated based on the period between measurement and the last day of the month.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The actual volume billed may be different from estimates. The Company believes that, based on its historical experience, the unbilled estimated amount will not significantly differ from actual amounts.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">iii.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Infrastructure concessions</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The construction of the infrastructure necessary for gas distribution is considered a construction service rendered to the ARSESP, and the related revenue is recognized over time based on the cost incurred method.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Construction costs are recognized by reference to the stage of completion of the construction activity at the end of the reporting year and are included in cost of sales.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Advances received are included in contract liabilities.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">iv.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Services rendered</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is recognized over time as services are provided. The stage of completion to determine the amount of revenue to be recognized is evaluated based on assessments of progress of work performed.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If services under a single contract occur in different periods, consideration is allocated based on their individual sales prices. The individual selling price is determined on the basis of the list prices at which the Company sells the services in separate transactions.</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">e)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; <span style="font-weight: bold;">Electricity</span></span><span style="font-weight: bold;">&#160;trading</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenue from electricity supply to customers and wholesalers at fair value of the related consideration, for delivery of electricity in a given period. The volume of electric energy delivered to buyer is determined on a monthly basis. Customers obtain control of electricity from the moment they consume it. Invoices are issued monthly and are usually paid within 30 days from their issue date..</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue from energy trading is recorded based on bilateral contracts signed with market agents and duly registered with the Electric Energy Trading Chamber (C&#226;mara de Comercializa&#231;&#227;o de Energia El&#233;trica), or &#8220;CCEE.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is recognized based on the energy sold and at prices specified under the supply to customers and <span>wholesalers&#8217;</span> contracts. The Company&#160;may sell the energy produced in two environments: (i) in the Free Contracting Environment (Ambiente de Contrata&#231;&#227;o Livre), or &#8220;ACL,&#8221; where energy trading takes place through free negotiation of prices and conditions between the parties, through bilateral contracts; and (ii) in the Regulated Contracting Environment (Ambiente de Contrata&#231;&#227;o Regulada), or &#8220;ACR,&#8221; where <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">electricity</span> is sold to distribution agents.</span></p>
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<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 28.96pt; padding-left: 24.89pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Short-term market</span></li>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenue at the fair value of the consideration receivable when transactions in the short-term market occur. The price of energy in these operations is characterized by the link with the Differences Settlement Price (Pre&#231;o de Liquida&#231;&#227;o de Diferen&#231;as), or &#8220;PLD.&#8221;</span></p>
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<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 32.02pt; padding-left: 21.83pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Trading operations</span></li>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Energy trading operations are carried out in an active market and, for accounting measurement purposes, they meet the definition of financial instruments at fair value.</span></p>
<p style="margin: 7pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Compass Trading recognizes revenue when the energy is delivered to customers at fair value of the consideration. In addition, unrealized net gains resulting from mark-to-market - difference between contracted and market prices - from open net contracted operations on the date of the consolidated financial statements are recognized in revenue.&#160;&#160;</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: #ffffff; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands of Brazilian<span>&#160;</span>reais<span>&#160;</span>- R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">f)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Lease revenues</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rental income mainly corresponds to land leased by Radar and is recognized on a straight-line basis over the term of each contract, to the extent that the contracts transfer to customers the right to use the assets for a period in exchange for consideration, which can be measured reliably.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">g)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Sale of investment properties</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue comprises the fair value of the consideration received or receivable for the disposal of investment properties in the ordinary course of the subsidiary's activities. Revenues are presented net of taxes, returns, rebates and discounts, and in the consolidated financial statements after eliminating sales within the subsidiary. Revenue is recognized when the subsidiary fulfills all obligations and promises identified in the contract for the transfer of goods to the customer.&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfAnalysisOfRevenueFromContinuingOperationsExplanatory" id="Tag3127" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following is an analysis of the Company&#8217;s net sales for the year:</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross revenue from sales </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.5%;"><br/></td>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> of products and services </span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" unitRef="BRL" id="Tag2951" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,317,755</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" unitRef="BRL" id="Tag3110" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,040,536</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="csan:RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" unitRef="BRL" id="Tag3100" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,703,245</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction revenue </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:RevenueFromConstructionContracts" unitRef="BRL" id="Tag3081" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,020,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:RevenueFromConstructionContracts" unitRef="BRL" id="Tag3082" decimals="-3" scale="3" format="ixt:num-dot-decimal">885,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:RevenueFromConstructionContracts" unitRef="BRL" id="Tag3103" decimals="-3" scale="3" format="ixt:num-dot-decimal">813,341</ix:nonFraction> </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Indirect taxes and deductions </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:IndirectTaxesAndDeductions" unitRef="BRL" id="Tag3084" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,472,930</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:IndirectTaxesAndDeductions" unitRef="BRL" id="Tag2954" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,488,331</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:IndirectTaxesAndDeductions" unitRef="BRL" id="Tag3074" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,905,177</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:Revenue" unitRef="BRL" id="Tag3076" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,865,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:Revenue" unitRef="BRL" id="Tag3111" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:Revenue" unitRef="BRL" id="Tag3038" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory" id="Tag3126" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In the following table, revenue is disaggregated by products and service lines and timing of revenue recognition:&#160;</span></p>
<div id="t_ft_UJS2MHL0LS00000000000000000000b">
<table cellpadding="0" style="height: 161px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At a point in time </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; width: 59%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas distribution </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredAtPointInTimeMember_GasDistributionMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag2952" decimals="-3" scale="3" format="ixt:num-dot-decimal">10,447,312</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredAtPointInTimeMember_GasDistributionMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3085" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,372,957</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredAtPointInTimeMember_GasDistributionMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3090" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,636,221</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.5%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity trading </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredAtPointInTimeMember_ElectricityDistributionMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3075" decimals="-3" scale="3" format="ixt:num-dot-decimal">620,495</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredAtPointInTimeMember_ElectricityDistributionMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3080" decimals="-3" scale="3" format="ixt:num-dot-decimal">775,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredAtPointInTimeMember_ElectricityDistributionMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3094" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lubricants and base oil </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredAtPointInTimeMember_LubricantsAndBasicOilMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3093" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,546,093</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredAtPointInTimeMember_LubricantsAndBasicOilMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3037" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,283,704</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredAtPointInTimeMember_LubricantsAndBasicOilMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3089" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,916,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredAtPointInTimeMember_OtherProductsMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3039" decimals="-3" scale="3" format="ixt:num-dot-decimal">277,571</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredAtPointInTimeMember_OtherProductsMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3086" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,923</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredAtPointInTimeMember_OtherProductsMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3040" decimals="-3" scale="3" format="ixt:num-dot-decimal">64,682</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredAtPointInTimeMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3101" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,891,471</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredAtPointInTimeMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3083" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,492,063</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredAtPointInTimeMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3098" decimals="-3" scale="3" format="ixt:num-dot-decimal">12,617,407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Over time </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railroad transportation services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredOverTimeMember_TransportationMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3107" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,103,706</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredOverTimeMember_TransportationMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag2953" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,680,307</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredOverTimeMember_TransportationMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3092" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,548,109</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Port elevation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredOverTimeMember_PortElevationMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3095" decimals="-3" scale="3" format="ixt:num-dot-decimal">335,965</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredOverTimeMember_PortElevationMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3106" decimals="-3" scale="3" format="ixt:num-dot-decimal">285,852</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredOverTimeMember_PortElevationMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3091" decimals="-3" scale="3" format="ixt:num-dot-decimal">351,563</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredOverTimeMember_ConstructionRevenueMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3108" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,020,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredOverTimeMember_ConstructionRevenueMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3109" decimals="-3" scale="3" format="ixt:num-dot-decimal">885,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredOverTimeMember_ConstructionRevenueMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3078" decimals="-3" scale="3" format="ixt:num-dot-decimal">813,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Services rendered </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredOverTimeMember_OtherServicesMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3079" decimals="-3" scale="3" format="ixt:num-dot-decimal">566,364</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredOverTimeMember_OtherServicesMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3102" decimals="-3" scale="3" format="ixt:num-dot-decimal">131,871</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredOverTimeMember_OtherServicesMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3097" decimals="-3" scale="3" format="ixt:num-dot-decimal">317,960</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_GoodsOrServicesTransferredOverTimeMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3096" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,026,211</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_GoodsOrServicesTransferredOverTimeMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3088" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,983,660</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231_GoodsOrServicesTransferredOverTimeMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3077" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,030,973</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Elimination </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_EliminationsAndReconcilingItemsMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3112" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">52,681</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_EliminationsAndReconcilingItemsMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3104" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">37,888</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231_EliminationsAndReconcilingItemsMember" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3087" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">36,971</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3113" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,865,001</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3099" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,437,835</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:RevenueFromContractsWithCustomers" unitRef="BRL" id="Tag3105" decimals="-3" scale="3" format="ixt:num-dot-decimal">20,611,409</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
</ix:nonNumeric>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_D5MWJCB0B400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-114</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div><div id="Normadiv51" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 9pt;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 9pt; font-family: 'times new roman', times;"><i><span>(In thousands of Brazilian reais - R$, unless otherwise stated)</span></i></span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfExpensesExplanatory" id="Tag3125" escape="true">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">20. Costs and expenses by nature</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfOperatingExpensesIncludingCostOfSalesExplanatory" id="Tag3145" escape="true">
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: 'times new roman', times;">The costs and expenses are presented in the statement of profit and loss by function. The&#160;</span><span style="font-family: 'times new roman', times;">reconciliation of income by nature/purpose is as follows:&#160;&#160;</span></span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<div id="t_ft_53Z911AL7K00000000000000000000b">
<table cellpadding="0" style="height: 323px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020&#160;(restated)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 (restated)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 59%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Commodity cost (natural gas) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:CommodityCost" unitRef="BRL" id="Tag2649" decimals="-3" scale="3" format="ixt:num-dot-decimal">6,137,104</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:CommodityCost" unitRef="BRL" id="Tag3067" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,867,044</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:CommodityCost" unitRef="BRL" id="Tag3116" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,885,497</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Raw materials </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:RawMaterialsAndConsumablesUsed" unitRef="BRL" id="Tag3068" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,631,436</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:RawMaterialsAndConsumablesUsed" unitRef="BRL" id="Tag3066" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,289,845</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:RawMaterialsAndConsumablesUsed" unitRef="BRL" id="Tag3138" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,231,169</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Personnel expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:WagesAndSalaries" unitRef="BRL" id="Tag3073" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,997,881</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:WagesAndSalaries" unitRef="BRL" id="Tag2653" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,533,429</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:WagesAndSalaries" unitRef="BRL" id="Tag3121" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,244,252</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag3143" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,504,384</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag1242" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,340,854</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:DepreciationAndAmortisationExpense" unitRef="BRL" id="Tag3136" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,287,877</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railroad transportation and port elevation expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:RailroadTransportationAndPortElevationExpenses" unitRef="BRL" id="Tag2650" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,128,043</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:RailroadTransportationAndPortElevationExpenses" unitRef="BRL" id="Tag3117" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,897,975</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:RailroadTransportationAndPortElevationExpenses" unitRef="BRL" id="Tag252" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,867,196</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity purchased for resale&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:CostOfElectricalEnergyPurchasedForResale" unitRef="BRL" id="Tag3118" decimals="-3" scale="3" format="ixt:num-dot-decimal">968,503</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:CostOfElectricalEnergyPurchasedForResale" unitRef="BRL" id="Tag3119" decimals="-3" scale="3" format="ixt:num-dot-decimal">927,913</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:CostOfElectricalEnergyPurchasedForResale" unitRef="BRL" id="Tag3133" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:ConstructionCost" unitRef="BRL" id="Tag3132" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,020,176</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:ConstructionCost" unitRef="BRL" id="Tag3137" decimals="-3" scale="3" format="ixt:num-dot-decimal">885,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:ConstructionCost" unitRef="BRL" id="Tag3072" decimals="-3" scale="3" format="ixt:num-dot-decimal">813,341</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas transportation cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:NaturalGasTransportationCost" unitRef="BRL" id="Tag6132" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,074,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:NaturalGasTransportationCost" unitRef="BRL" id="Tag2647" decimals="-3" scale="3" format="ixt:num-dot-decimal">753,603</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:NaturalGasTransportationCost" unitRef="BRL" id="Tag3071" decimals="-3" scale="3" format="ixt:num-dot-decimal">703,500</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other transport </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:OtherTransportExpenses" unitRef="BRL" id="Tag3070" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:OtherTransportExpenses" unitRef="BRL" id="Tag253" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:OtherTransportExpenses" unitRef="BRL" id="Tag3141" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:SalesAndMarketingExpense" unitRef="BRL" id="Tag3122" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,638</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:SalesAndMarketingExpense" unitRef="BRL" id="Tag2648" decimals="-3" scale="3" format="ixt:num-dot-decimal">23,387</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:SalesAndMarketingExpense" unitRef="BRL" id="Tag2652" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,168</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expenses with third-party services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:ExpensesWithThirdPartyServices" unitRef="BRL" id="Tag3131" decimals="-3" scale="3" format="ixt:num-dot-decimal">751,486</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:ExpensesWithThirdPartyServices" unitRef="BRL" id="Tag3134" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:ExpensesWithThirdPartyServices" unitRef="BRL" id="Tag2654" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherExpenseByNature" unitRef="BRL" id="Tag3114" decimals="-3" scale="3" format="ixt:num-dot-decimal">897,789</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherExpenseByNature" unitRef="BRL" id="Tag256" decimals="-3" scale="3" format="ixt:num-dot-decimal">731,869</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherExpenseByNature" unitRef="BRL" id="Tag251" decimals="-3" scale="3" format="ixt:num-dot-decimal">460,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ExpenseByNature" unitRef="BRL" id="Tag3135" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,160,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ExpenseByNature" unitRef="BRL" id="Tag3129" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,251,549</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:ExpenseByNature" unitRef="BRL" id="Tag3144" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,519,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag3128" decimals="-3" scale="3" format="ixt:num-dot-decimal">19,864,248</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag3115" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,999,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:CostOfSales" unitRef="BRL" id="Tag3139" decimals="-3" scale="3" format="ixt:num-dot-decimal">14,616,985</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:SellingExpense1" unitRef="BRL" id="Tag3142" decimals="-3" scale="3" format="ixt:num-dot-decimal">723,419</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:SellingExpense1" unitRef="BRL" id="Tag2651" decimals="-3" scale="3" format="ixt:num-dot-decimal">661,907</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:SellingExpense1" unitRef="BRL" id="Tag285" decimals="-3" scale="3" format="ixt:num-dot-decimal">666,114</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:GeneralAndAdministrativeExpense2" unitRef="BRL" id="Tag1243" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,572,357</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:GeneralAndAdministrativeExpense2" unitRef="BRL" id="Tag3140" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,589,819</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:GeneralAndAdministrativeExpense2" unitRef="BRL" id="Tag3069" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,236,062</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:OperatingExpensesIncludingCostOfSales" unitRef="BRL" id="Tag3120" decimals="-3" scale="3" format="ixt:num-dot-decimal">22,160,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:OperatingExpensesIncludingCostOfSales" unitRef="BRL" id="Tag1245" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,251,549</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:OperatingExpensesIncludingCostOfSales" unitRef="BRL" id="Tag1244" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,519,161</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
</div>
</div><div id="Normadiv52" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory" id="Tag3707" escape="true">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">21. Other income (expenses), net</span></p>
<p><br/></p>
<div id="t_ft_YSA58L26OG00000000000000000000b">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfDetailsOtherExpenseIncomeExplanatory" id="Tag3708" escape="true">
<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="height: 248px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Settlement of disputes in the renewal process<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnLitigationSettlements" unitRef="BRL" id="Tag1139" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,242</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnLitigationSettlements" unitRef="BRL" id="Tag6398" decimals="-3" scale="3" format="ixt:num-dot-decimal">278,496</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnLitigationSettlements" unitRef="BRL" id="Tag1135" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax credits<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:TaxCredits" unitRef="BRL" id="Tag1134" decimals="-3" scale="3" format="ixt:num-dot-decimal">287,049</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:TaxCredits" unitRef="BRL" id="Tag3016" decimals="-3" scale="3" format="ixt:num-dot-decimal">132,399</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="csan:TaxCredits" unitRef="BRL" id="Tag3023" decimals="-3" scale="3" format="ixt:num-dot-decimal">165,398</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain (loss) on disposal of non-current assets and intangibles&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" unitRef="BRL" id="Tag1147" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,295</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" unitRef="BRL" id="Tag3022" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,610</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" unitRef="BRL" id="Tag3026" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">35,274</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain from bargain purchase (Note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainRecognisedInBargainPurchaseTransaction" unitRef="BRL" id="Tag1137" decimals="-3" scale="3" format="ixt:num-dot-decimal">416,268</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainRecognisedInBargainPurchaseTransaction" unitRef="BRL" id="Tag3025" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:GainRecognisedInBargainPurchaseTransaction" unitRef="BRL" id="Tag1149" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Reimbursement of natural gas loss in the process </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="csan:ReimbursementOfGasLossesInProcess" unitRef="BRL" id="Tag1150" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:ReimbursementOfGasLossesInProcess" unitRef="BRL" id="Tag1143" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,945</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="csan:ReimbursementOfGasLossesInProcess" unitRef="BRL" id="Tag1148" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain on compensation claims </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="csan:GainLossOnCompensationClaims" unitRef="BRL" id="Tag6401" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_4" name="csan:GainLossOnCompensationClaims" unitRef="BRL" id="Tag1138" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="csan:GainLossOnCompensationClaims" unitRef="BRL" id="Tag1136" decimals="-3" scale="3" format="ixt:num-dot-decimal">50,284</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net effect of legal proceedings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:NetEffectOfLegalProceedings" unitRef="BRL" id="Tag3021" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">263,945</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:NetEffectOfLegalProceedings" unitRef="BRL" id="Tag1146" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">32,704</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:NetEffectOfLegalProceedings" unitRef="BRL" id="Tag3027" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">105,153</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation of right-of-use </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag3015" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag1145" decimals="-3" scale="3" format="ixt:num-dot-decimal">100,593</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:DepreciationRightofuseAssets" unitRef="BRL" id="Tag6400" decimals="-3" scale="3" format="ixt:num-dot-decimal">40,545</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposal of credit rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="csan:CreditSalesToThirdParties" unitRef="BRL" id="Tag3020" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:CreditSalesToThirdParties" unitRef="BRL" id="Tag6399" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">68,311</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20191231" name="csan:CreditSalesToThirdParties" unitRef="BRL" id="Tag1141" decimals="-3" scale="3" format="ixt:num-dot-decimal">410,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of investment properties (note 11.5) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag3017" decimals="-3" scale="3" format="ixt:num-dot-decimal">17,116</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag3028" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnFairValueAdjustmentInvestmentProperty" unitRef="BRL" id="Tag1140" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on impairment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLoss" unitRef="BRL" id="Tag3018" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLoss" unitRef="BRL" id="Tag1133" decimals="-3" scale="3" format="ixt:num-dot-decimal">143,984</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6402" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:OtherExpenseIncome" unitRef="BRL" id="Tag3019" decimals="-3" scale="3" format="ixt:num-dot-decimal">90,425</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="csan:OtherExpenseIncome" unitRef="BRL" id="Tag1144" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">54,011</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20191231" name="csan:OtherExpenseIncome" unitRef="BRL" id="Tag6397" decimals="-3" scale="3" format="ixt:num-dot-decimal">40,024</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag1142" decimals="-3" scale="3" format="ixt:num-dot-decimal">382,600</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag3024" decimals="-3" scale="3" format="ixt:num-dot-decimal">176,869</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20191231" name="ifrs-full:OtherOperatingIncomeExpense" unitRef="BRL" id="Tag6983" decimals="-3" scale="3" format="ixt:num-dot-decimal">404,686</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div style="margin: 0 auto;">
<div id="t_ft_0YGZHFYMJ400000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 10px;">
<tbody>
<tr style="height: 10px;">
<td style="text-align: right; vertical-align: top; width: 8%; height: 10px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td valign="top" style="vertical-align: top; width: 1%; height: 10px;"><br/></td>
<td style="text-align: justify; vertical-align: top; width: 91%; height: 10px;" valign="top"><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote43"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">Effect referring to the reversal of lease liabilities in dispute registered, related to labor credits from lawsuits for return, of subsidiary&#160;Rumo&#160;in the amount of R$</span><span style="border-left: none; border-right: none;">52,963</span><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">; and waiver of administrative and regulatory proceedings contemplated in the&#160;</span><span style="border-left: none; border-right: none;">7</span><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">th Addendum to the Concession Agreement Renewal of the concession agreement of subsidiary&#160;Comg&#225;s&#160;in the amount of (R$</span><span style="border-left: none; border-right: none;">43,721</span><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">).</span></ix:footnote></td>
</tr>
</tbody>
</table>
</div>
</div>
<div>
<ix:exclude>
<div>
<div style="border-left: none; border-right: none;">
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-115</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="text-align: justify; text-indent: -18pt;"><br/></p>
</div>
</ix:exclude>
</div>
</ix:nonNumeric>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;</span></span></p>
</div>
</div><div id="Normadiv53" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfFinancialResultsExplanatory" id="Tag3218" escape="true">
<div style="margin: 0 auto;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">22</span>. Finance results</span></p>
<p style="margin: 10pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Finance income comprises interest income on funds invested, dividend income, fair value gains on financial assets at fair value through profit or loss, gains on the remeasurement to fair value of any pre-existing interest in an acquire in a business combination, gains on hedging instruments that are recognized in profit or loss and reclassifications of net gains previously recognized in other comprehensive income. Interest income is recognized as it accrues in profit or loss, using the effective interest method. Dividend income is recognized in profit or loss on the date that the Company&#8217;s right to receive payment is established, which in the case of quoted securities is normally the ex-dividend date.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Finance expense comprise interest expense on borrowings, unwinding of the discount on provisions and deferred consideration, dividends on preference shares classified as liabilities, fair value losses on financial assets at fair value through profit or loss and contingent consideration, impairment losses recognized on financial assets (other than trade receivables), losses on hedging instruments that are recognized in profit or loss and reclassifications of net losses previously recognized in other comprehensive income.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss using the effective interest method.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Foreign exchange gains and losses on financial assets and financial liabilities are reported on a net basis as financial income or financial cost, depending on whether the net foreign currency fluctuations result in a gain or loss position.</span></p>
</div>
<div style="margin: 0 auto;">
<ix:exclude>
<div>
<div id="t_ft_5YNJ9JKCGW00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-116</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="text-align: justify;"><br/></p>
</div>
</ix:exclude>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory" id="Tag3709" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Details of finance income and costs are as follows:</span></p>
<div id="t_ft_2LKFY9CSCW00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 455px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost of gross debt </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%; background-color: #cceeff;"></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58.936%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on debt </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9701%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:InterestExpenseOnDebtInstrumentsIssued" unitRef="BRL" id="Tag3211" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,162,853</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9701%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:InterestExpenseOnDebtInstrumentsIssued" unitRef="BRL" id="Tag3152" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,148,322</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9701%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:InterestExpenseOnDebtInstrumentsIssued" unitRef="BRL" id="Tag3157" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,626,911</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; width: 1.08063%; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary and exchange rate variation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" unitRef="BRL" id="Tag3191" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,069,157</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6408" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,253,446</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" unitRef="BRL" id="Tag6410" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">438,430</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives and fair value measurement </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" unitRef="BRL" id="Tag6409" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,193,855</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" unitRef="BRL" id="Tag3148" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,918,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" unitRef="BRL" id="Tag3150" decimals="-3" scale="3" format="ixt:num-dot-decimal">764,816</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Amortization of borrowing costs </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:AmortizationOfBorrowingCost" unitRef="BRL" id="Tag3196" decimals="-3" scale="3" format="ixt:num-dot-decimal">341,034</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:AmortizationOfBorrowingCost" unitRef="BRL" id="Tag3214" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,732</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:AmortizationOfBorrowingCost" unitRef="BRL" id="Tag3193" decimals="-3" scale="3" format="ixt:num-dot-decimal">56,397</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Guarantees and warranties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:FinanceAndWarrantiesOnDebt" unitRef="BRL" id="Tag3195" decimals="-3" scale="3" format="ixt:num-dot-decimal">52,082</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:FinanceAndWarrantiesOnDebt" unitRef="BRL" id="Tag3207" decimals="-3" scale="3" format="ixt:num-dot-decimal">56,079</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:FinanceAndWarrantiesOnDebt" unitRef="BRL" id="Tag2607" decimals="-3" scale="3" format="ixt:num-dot-decimal">65,207</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:CostOfDebtGross" unitRef="BRL" id="Tag3208" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,431,271</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:CostOfDebtGross" unitRef="BRL" id="Tag295" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,597,731</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:CostOfDebtGross" unitRef="BRL" id="Tag3187" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,422,129</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income from financial investment and exchange rate in cash and cash equivalents</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:InterestIncomeOnCashAndCashEquivalents" unitRef="BRL" id="Tag3160" decimals="-3" scale="3" format="ixt:num-dot-decimal">600,894</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:InterestIncomeOnCashAndCashEquivalents" unitRef="BRL" id="Tag3190" decimals="-3" scale="3" format="ixt:num-dot-decimal">369,690</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:InterestIncomeOnCashAndCashEquivalents" unitRef="BRL" id="Tag3188" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,701</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost of debt, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:CostOfDebtNet" unitRef="BRL" id="Tag3216" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,830,377</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:CostOfDebtNet" unitRef="BRL" id="Tag3212" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,228,041</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:CostOfDebtNet" unitRef="BRL" id="Tag3165" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,014,428</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on other receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:InterestOnOtherReceivables" unitRef="BRL" id="Tag3192" decimals="-3" scale="3" format="ixt:num-dot-decimal">411,394</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="csan:InterestOnOtherReceivables" unitRef="BRL" id="Tag3186" decimals="-3" scale="3" format="ixt:num-dot-decimal">201,060</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="csan:InterestOnOtherReceivables" unitRef="BRL" id="Tag3164" decimals="-3" scale="3" format="ixt:num-dot-decimal">435,498</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary variation of other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:MonetaryVariationOfOtherFinancialAssets" unitRef="BRL" id="Tag2955" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">372</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_4" name="csan:MonetaryVariationOfOtherFinancialAssets" unitRef="BRL" id="Tag3169" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20191231" name="csan:MonetaryVariationOfOtherFinancialAssets" unitRef="BRL" id="Tag3209" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on other payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:InterestExpenseOnOtherPayables" unitRef="BRL" id="Tag3210" decimals="-3" scale="3" format="ixt:num-dot-decimal">424,946</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:InterestExpenseOnOtherPayables" unitRef="BRL" id="Tag3159" decimals="-3" scale="3" format="ixt:num-dot-decimal">16,293</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:InterestExpenseOnOtherPayables" unitRef="BRL" id="Tag3206" decimals="-3" scale="3" format="ixt:num-dot-decimal">302,620</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on lease liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" unitRef="BRL" id="Tag3176" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,972</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" unitRef="BRL" id="Tag3201" decimals="-3" scale="3" format="ixt:num-dot-decimal">595,482</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" unitRef="BRL" id="Tag3166" decimals="-3" scale="3" format="ixt:num-dot-decimal">559,240</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on shareholders' equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:InterestExpenseOnShareholdersEquity" unitRef="BRL" id="Tag3158" decimals="-3" scale="3" format="ixt:num-dot-decimal">8,288</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:InterestExpenseOnShareholdersEquity" unitRef="BRL" id="Tag3204" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,959</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:InterestExpenseOnShareholdersEquity" unitRef="BRL" id="Tag3197" decimals="-3" scale="3" format="ixt:num-dot-decimal">18,726</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on contingencies and contracts </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:InterestExpenseOnContingenciesAndContracts" unitRef="BRL" id="Tag3156" decimals="-3" scale="3" format="ixt:num-dot-decimal">315,620</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:InterestExpenseOnContingenciesAndContracts" unitRef="BRL" id="Tag3153" decimals="-3" scale="3" format="ixt:num-dot-decimal">234,368</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:InterestExpenseOnContingenciesAndContracts" unitRef="BRL" id="Tag3161" decimals="-3" scale="3" format="ixt:num-dot-decimal">222,617</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank charges and other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:BankAndSimilarCharges" unitRef="BRL" id="Tag3203" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,983</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:BankAndSimilarCharges" unitRef="BRL" id="Tag3198" decimals="-3" scale="3" format="ixt:num-dot-decimal">75,408</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:BankAndSimilarCharges" unitRef="BRL" id="Tag3189" decimals="-3" scale="3" format="ixt:num-dot-decimal">196,230</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="csan:OtherForeignExchangeNet" unitRef="BRL" id="Tag3175" decimals="-3" scale="3" format="ixt:num-dot-decimal">115,607</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:OtherForeignExchangeNet" unitRef="BRL" id="Tag3202" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">30,505</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:OtherForeignExchangeNet" unitRef="BRL" id="Tag47" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">89,260</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:OtherChargesAndMonetaryVariationsNet" unitRef="BRL" id="Tag3149" decimals="-3" scale="3" format="ixt:num-dot-decimal">727,180</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:OtherChargesAndMonetaryVariationsNet" unitRef="BRL" id="Tag3183" decimals="-3" scale="3" format="ixt:num-dot-decimal">755,955</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:OtherChargesAndMonetaryVariationsNet" unitRef="BRL" id="Tag48" decimals="-3" scale="3" format="ixt:num-dot-decimal">953,195</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:FinancialResults" unitRef="BRL" id="Tag3171" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,557,557</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:FinancialResults" unitRef="BRL" id="Tag3217" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:FinancialResults" unitRef="BRL" id="Tag1051" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 58.936%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag3185" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,527,506</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag49" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,727,561</ix:nonFraction></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceCosts" unitRef="BRL" id="Tag3170" decimals="-3" scale="3" format="ixt:num-dot-decimal">3,690,578</ix:nonFraction></span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag3194" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,258,441</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag3200" decimals="-3" scale="3" format="ixt:num-dot-decimal">407,710</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:FinanceIncome" unitRef="BRL" id="Tag3151" decimals="-3" scale="3" format="ixt:num-dot-decimal">974,604</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;"></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag3184" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,099,536</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag3215" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">3,258,656</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" unitRef="BRL" id="Tag3213" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">526,946</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag3162" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">188,956</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag3199" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,594,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20191231" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" unitRef="BRL" id="Tag3168" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,275,297</ix:nonFraction> </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:FinancialResults" unitRef="BRL" id="Tag3205" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">2,557,557</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="csan:FinancialResults" unitRef="BRL" id="Tag3167" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,983,996</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20191231" name="csan:FinancialResults" unitRef="BRL" id="Tag3163" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,967,623</ix:nonFraction> </span></p>
</td>
<td style="height: 10px; width: 1.08063%; padding: 0px 0px 1px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
</div>
</div><div id="Normadiv54" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfEmployeeBenefitsExplanatory" id="Tag6068" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">23.&#160; &#160; Post-employment benefits</span></span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Accounting </span><span style="font-style: italic; font-weight: bold;">policy</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The cost of defined benefit pension plans and other post-employment and the present value of the pension obligation is determined using actuarial valuations. An actuarial valuation involves the use of various assumptions which may differ from actual results in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. A defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed by management at each reporting date.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">a) Defined contribution</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A defined contribution plan is a post-employment benefit plan under which the Company pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognized as an employee benefit expense in profit or loss in the periods during which related services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. Contributions to a defined contribution plan that is due more than 12 months after the end of the period in which the employees render the service are discounted to their present value.</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company provides defined contribution plans to all employees. The plan assets are Futura II - Entidade de Previd&#234;ncia Complementar (&#8220;Futura&#8221;) and Plano de Pens&#245;es Comg&#225;s (&#8220;PLAC&#8221;). The Company and its subsidiaries do not have a legal or constructive obligation to pay further contributions if the fund does not have sufficient assets to pay all of the benefits owed.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">b) Defined benefit</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is the sponsor of defined benefit pension plans for some of its employees. A defined benefit plan is a post-employment benefit plans other than a defined contribution plan.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows, using interest rates that are denominated in the currency in which the benefits will be paid, and that have terms approximating to the terms of the related obligation.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service costs.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Some of the Company&#8217;s pension plan, even though it is substantially defined contribution, has a variable component, whose risk is linked to the payment of minimum benefit and to the increase of the future contributions of the sponsors in the benefits in the event of Death Tax of the active taxpayer as well as in Disability Retirement, limited to three salaries. Any actuarial liability calculated, is recorded by the Company.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Defined benefit plan paid off, whose active participants have a paid-up benefit calculated in accordance with the regulation, which is being updated to the date of receipt by the plan of readjustment index, which leads the company to adopt such a provision the present value of benefits and that assisted participants receive annuity under the plan. The main actuarial risks are:</span></p>
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<li style="font-family: Arial; font-size: 11pt; margin: 0pt 0pt 10pt 28.35pt; padding-left: 25.5pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">higher survival to that specified in mortality tables;</span></li>
<li style="font-family: Arial; font-size: 11pt; margin: 0pt 0pt 10pt 30.79pt; padding-left: 23.06pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the return on equity under the actuarial discount rate plus the accumulated IGP-DI; and</span></li>
<li style="font-family: Arial; font-size: 11pt; margin: 0pt 0pt 10pt 33.24pt; padding-left: 20.61pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">real family structure of different retirees established hypothesis.</span></li>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">c) Health Plan</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Subsidiary Comg&#225;s offers the following post-employment health care benefits, granted to former employees and their dependents who retired up to May 31, 2000. After this date, only employees with <ix:nonNumeric contextRef="D20200531_1" name="csan:ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" id="Tag5362" format="ixt-sec:durwordsen"><span style="border-left: none; border-right: none;">20</span> years</ix:nonNumeric> contribution to Social Security (<span style="font-style: italic;">Instituto Nacional do Seguro Social</span>), or &#8220;INSS,&#8221; and <ix:nonNumeric contextRef="D20200531_1" name="csan:ExpectedServiceDurationForEntitledToDefinedBenefitPlan" id="Tag5352" format="ixt-sec:durwordsen"><span style="border-left: none; border-right: none;">15</span> years</ix:nonNumeric> uninterrupted work at the Company up to May 31, 2000, are entitled to this defined benefit plan, provided that, on the date of retirement, they were working at the Company.</span></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The liability recognized in the statement of financial position in respect of defined benefit post-employment plans is calculated annually by independent actuaries.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amount recognized in the statement of financial position in relation to health plan liabilities represents the present value of the obligations less the fair value of the assets, including actuarial gains and losses. Remeasurement of the net obligation, which include: actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset cap (if any, excluding interest), are recognized immediately in other comprehensive income. Net interest and other expenses related to defined benefit plans are recognized in profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Actuarial gains and losses based on experience adjustments and changes in actuarial assumptions are recognized directly in equity as other comprehensive income, when incurred.</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Defined contribution </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Futura II </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_FuturaTwoPensionPlanMember_DefinedContributionMember" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5323" decimals="-3" scale="3" format="ixt:num-dot-decimal">190</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_FuturaTwoPensionPlanMember_DefinedContributionMember" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5373" decimals="-3" scale="3" format="ixt:num-dot-decimal">186</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Defined benefit </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Futura </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_DefinedBenefitMember_FuturaPensionPlanMember" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5313" decimals="-3" scale="3" format="ixt:num-dot-decimal">198,761</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_DefinedBenefitMember_FuturaPensionPlanMember" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5328" decimals="-3" scale="3" format="ixt:num-dot-decimal">163,972</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
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<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Health Plan </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5272" decimals="-3" scale="3" format="ixt:num-dot-decimal">470,524</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag50" decimals="-3" scale="3" format="ixt:num-dot-decimal">564,576</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5350" decimals="-3" scale="3" format="ixt:num-dot-decimal">669,475</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:PostemploymentBenefitExpenseDefinedBenefitPlans" unitRef="BRL" id="Tag5370" decimals="-3" scale="3" format="ixt:num-dot-decimal">728,734</ix:nonFraction> </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
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<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;</span><span style="font-weight: bold;">Defined contribution</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">During the year ended December 31, 2021, the amount of sponsor contributions to the plans was R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag51" decimals="-3" scale="3" format="ixt:num-dot-decimal">217</ix:nonFraction> (R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5325" decimals="-3" scale="3" format="ixt:num-dot-decimal">214</ix:nonFraction> and R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5336" decimals="-3" scale="3" format="ixt:num-dot-decimal">215</ix:nonFraction> on December 31, 2020 and 2019, respectively).</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="font-weight: bold;">Defined benefit</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary CLE sponsors Futura - Supplementary Pension Entity (&#8220;Futura&#8221;), formerly Previd Exxon - Supplementary Pension Entity, whose main purpose is the complementary benefits, within certain limits established in the Regulation of the Retirement Plan. This plan was amended to close it to new participants and approved by the competent authorities on May 5, 2011. During the year ended December 31, 2021, the amounts of contributions totaled R$<ix:nonFraction contextRef="D20211231_FuturaPensionPlanMember_CLEMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5335" decimals="-3" scale="3" format="ixt:num-dot-decimal">5,166</ix:nonFraction> (R$<ix:nonFraction contextRef="D20201231_FuturaPensionPlanMember_CLEMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5312" decimals="-3" scale="3" format="ixt:num-dot-decimal">7,044</ix:nonFraction>&#160;and R$<ix:nonFraction contextRef="D20191231_FuturaPensionPlanMember_CLEMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5320" decimals="-3" scale="3" format="ixt:num-dot-decimal">4,349</ix:nonFraction> on December 31, 2020 and 2019, respectively). The weighted average duration of the obligation is <ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:WeightedAverageDurationOfDefinedBenefitObligation2019" id="Tag5284" format="ixt-sec:duryear">9.6</ix:nonNumeric> years. In 2022, the subsidiary expects to make a contribution of R$<ix:nonFraction contextRef="D20211231_FuturaPensionPlanMember_CLEMember_DefinedBenefitObligationMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5290" decimals="-3" scale="3" format="ixt:num-dot-decimal">60,560</ix:nonFraction> in relation to its defined benefit plan.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Medical </span><span style="font-weight: bold;">p</span><span style="font-weight: bold;">lan</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s: Obligations related to post-employment benefit plans, which include medical assistance and retirement incentives, sick pay and disability pension.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The defined benefit pension plan is governed by Brazilian labor laws, which require final salary payments to be adjusted to the consumer price index at the time of payment upon retirement. The level of benefits provided depends on the member's length of service and salary at retirement age. During the year ended December 31, 2021, the amounts of contributions totaled R$<ix:nonFraction contextRef="D20211231_ComgasPensionPlanMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5305" decimals="-3" scale="3" format="ixt:num-dot-decimal">25,169</ix:nonFraction> (R$<ix:nonFraction contextRef="D20201231_ComgasPensionPlanMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5337" decimals="-3" scale="3" format="ixt:num-dot-decimal">26,804</ix:nonFraction> for the year ended December 31, 2020). The weighted average duration of the obligation is <ix:nonNumeric contextRef="D20211231_ComgasPensionPlanMember" name="ifrs-full:WeightedAverageDurationOfDefinedBenefitObligation2019" id="Tag5364" format="ixt-sec:duryear">11.7</ix:nonNumeric> years (<ix:nonNumeric contextRef="D20201231_ComgasPensionPlanMember" name="ifrs-full:WeightedAverageDurationOfDefinedBenefitObligation2019" id="Tag5344" format="ixt-sec:duryear">14.9</ix:nonNumeric> years in 2020).</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-119</span></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: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><br/></p>
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</ix:exclude>
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<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" id="Tag6827" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The details of the present value of the defined benefit obligation and the fair value of plan assets are as follows:</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 1pt solid #000000;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 63.9467%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial obligation at beginning of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5330" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,249,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5384" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,249,630</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="I20181231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag6363" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,012,792</ix:nonFraction></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current service cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5399" decimals="-3" scale="3" format="ixt:num-dot-decimal">487</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5375" decimals="-3" scale="3" format="ixt:num-dot-decimal">540</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5277" decimals="-3" scale="3" format="ixt:num-dot-decimal">480</ix:nonFraction></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on actuarial obligation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5289" decimals="-3" scale="3" format="ixt:num-dot-decimal">88,299</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag6364" decimals="-3" scale="3" format="ixt:num-dot-decimal">89,253</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5285" decimals="-3" scale="3" format="ixt:num-dot-decimal">91,849</ix:nonFraction></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial (gain) loss arising from financial assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5321" decimals="-3" scale="3" format="ixt:num-dot-decimal">183,159</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5340" decimals="-3" scale="3" format="ixt:num-dot-decimal">58,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5365" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">211,030</ix:nonFraction></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss (gain) arising from experience adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5307" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">77,111</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag54" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">30,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5360" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,216</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss arising from demographic assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5348" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5374" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">14</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5379" xsi:nil="true"></ix:nonFraction>&#8212;</span><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Benefit payments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5404" decimals="-3" scale="3" format="ixt:num-dot-decimal">70,201</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5271" decimals="-3" scale="3" format="ixt:num-dot-decimal">62,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5278" decimals="-3" scale="3" format="ixt:num-dot-decimal">65,305</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Actuarial obligation at the end of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5292" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,161,693</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5304" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,249,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="I20191231_PresentValueOfDefinedBenefitObligationMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag6365" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,249,630</ix:nonFraction></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value of plan assets at the beginning of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20201231_PlanAssetsMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5276" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">520,608</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20191231_PlanAssetsMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5395" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">544,988</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="I20181231_PlanAssetsMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5382" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">433,174</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PlanAssetsMember" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5309" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">35,809</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PlanAssetsMember" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5339" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">38,452</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20191231_PlanAssetsMember" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5324" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">39,299</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Return on investments in the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> year (excluding interest income) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PlanAssetsMember" name="csan:GainLossOnAssetsGreaterThanDiscountRateToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5397" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">24,143</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PlanAssetsMember" name="csan:GainLossOnAssetsGreaterThanDiscountRateToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag58" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">34,370</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20191231_PlanAssetsMember" name="csan:GainLossOnAssetsGreaterThanDiscountRateToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5275" decimals="-3" scale="3" format="ixt:num-dot-decimal">105,417</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employer contributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_PlanAssetsMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5333" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,336</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_PlanAssetsMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5376" decimals="-3" scale="3" format="ixt:num-dot-decimal">33,836</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="D20191231_PlanAssetsMember" name="ifrs-full:ContributionsToPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5400" decimals="-3" scale="3" format="ixt:num-dot-decimal">32,403</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Benefit payments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_PlanAssetsMember" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5316" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">70,202</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_PlanAssetsMember" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5314" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">62,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20191231_PlanAssetsMember" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5401" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">65,305</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fair value of plan assets at the end of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231_PlanAssetsMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5354" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">492,408</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20201231_PlanAssetsMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5372" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">520,608</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(<ix:nonFraction contextRef="I20191231_PlanAssetsMember" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5329" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">544,988</ix:nonFraction></span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net defined benefit liability </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:NetDefinedBenefitLiability" unitRef="BRL" id="Tag5281" decimals="-3" scale="3" format="ixt:num-dot-decimal">669,285</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:NetDefinedBenefitLiability" unitRef="BRL" id="Tag5347" decimals="-3" scale="3" format="ixt:num-dot-decimal">728,548</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><ix:nonFraction contextRef="I20191231" name="csan:NetDefinedBenefitLiability" unitRef="BRL" id="Tag5317" decimals="-3" scale="3" format="ixt:num-dot-decimal">704,642</ix:nonFraction></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfExpenseIncomeRecognizedNetDefinedBenefitLiabilityAssetExplanatory" id="Tag3838" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total expense recognized in profit or loss is as follows:</span></p>
<div id="t_ft_4LKWY26UKG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.9988%; height: 94px;" width="100%">
<tbody>
<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 64.9376%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 1.05668%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.960615%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 1.05668%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.960615%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; text-align: right; border-bottom: 1pt solid #000000; width: 9.99039%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.960615%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 64.9376%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current service cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.99039%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5367" decimals="-3" scale="3" format="ixt:num-dot-decimal">487</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.05668%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.99039%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5297" decimals="-3" scale="3" format="ixt:num-dot-decimal">540</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.05668%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; width: 9.99039%; height: 19px; text-align: right;">(<ix:nonFraction contextRef="D20191231" name="ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5291" decimals="-3" scale="3" format="ixt:num-dot-decimal">480</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.960615%; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 64.9376%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on actuarial obligation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5319" decimals="-3" scale="3" format="ixt:num-dot-decimal">52,490</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.05668%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5383" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,567</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.05668%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 0.5pt solid #000000; width: 9.99039%;">(<ix:nonFraction contextRef="D20191231" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5295" decimals="-3" scale="3" format="ixt:num-dot-decimal">45,601</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.960615%;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 64.9376%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20211231_5" name="csan:ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5303" decimals="-3" scale="3" format="ixt:num-dot-decimal">52,977</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.05668%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.960615%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (<ix:nonFraction contextRef="D20201231_4" name="csan:ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5331" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,107</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.05668%;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.960615%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right; border-bottom: 2.8pt double #000000; font-weight: bold; width: 9.99039%;"><span style="font-weight: bold;">(</span><ix:nonFraction contextRef="D20191231" name="csan:ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5302" decimals="-3" scale="3" format="ixt:num-dot-decimal">46,081</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.960615%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfDefinedBenefitPlanRecognisedInAOCIExplanatory" id="Tag6826" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total amount recognized as other accumulated comprehensive income:</span></p>
<div id="t_ft_TVW8EXOHEO00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.9988%; height: 153px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 65%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Accumulated at the beginning of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231" name="csan:AccumulatedLiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5274" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,904</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20191231" name="csan:AccumulatedLiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5355" decimals="-3" scale="3" format="ixt:num-dot-decimal">66,305</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; width: 10%; text-align: right; height: 19px;"><ix:nonFraction contextRef="I20181231" name="csan:AccumulatedLiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5407" decimals="-3" scale="3" format="ixt:num-dot-decimal">170,702</ix:nonFraction></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial gain (loss) arising from financial assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5326" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">183,156</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5403" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">58,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; text-align: right; height: 19px;">(<ix:nonFraction contextRef="D20191231" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5283" decimals="-3" scale="3" format="ixt:num-dot-decimal">211,030</ix:nonFraction></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial (loss) gain arising from experience adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5356" decimals="-3" scale="3" format="ixt:num-dot-decimal">77,112</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5390" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,267</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5378" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">1,216</ix:nonFraction></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss arising from demographic assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5308" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5299" decimals="-3" scale="3" format="ixt:num-dot-decimal">14</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; text-align: right; height: 19px;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag53" xsi:nil="true"></ix:nonFraction>&#8212;</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Return on investments in the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> year (excluding interest income) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag52" decimals="-3" scale="3" format="ixt:num-dot-decimal">24,145</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5359" decimals="-3" scale="3" format="ixt:num-dot-decimal">34,370</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; text-align: right; height: 19px; border-bottom: 0.5pt solid #000000;"><ix:nonFraction contextRef="D20191231" name="ifrs-full:ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" unitRef="BRL" id="Tag5300" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">105,417</ix:nonFraction></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Accumulated at the end of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:AccumulatedLiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5405" decimals="-3" scale="3" format="ixt:num-dot-decimal">141,803</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:AccumulatedLiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5296" decimals="-3" scale="3" format="ixt:num-dot-decimal">59,904</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px; font-weight: bold; border-bottom: 2.8pt double #000000;"><ix:nonFraction contextRef="I20191231" name="csan:AccumulatedLiabilityAssetOfDefinedBenefitPlans" unitRef="BRL" id="Tag5368" decimals="-3" scale="3" format="ixt:num-dot-decimal">66,305</ix:nonFraction></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<ix:exclude>
<div>
<div id="t_ft_GVGV5SM7IO00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-120</span></td>
</tr>
</tbody>
</table>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
</div>
</ix:exclude>
</div>
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory" id="Tag3837" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The plan assets are composed of the following:</span></p>
<div id="t_ft_BJHPVCXZTC00000000000000000000b">
<table cellpadding="0" style="height: 87px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 63.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 16.9576%;" colspan="3">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 202</span><span style="font-weight: bold;">1</span></span><br/></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 0.997506%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center; border-bottom: 1px solid #000000; width: 18.7864%;" colspan="3"><span style="font-size: 8pt;"><span 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: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 20</span><span 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: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">20</span></span><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 63.9235%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Amount </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 9.97506%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Amount </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.831255%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.08063%; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 63.9235%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fixed income bonds </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 7.98005%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FixedIncomeBondsMember" name="ifrs-full:AssetsOfBenefitPlan" unitRef="BRL" id="Tag5406" decimals="-3" scale="3" format="ixt:num-dot-decimal">484,847</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 7.98005%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FixedIncomeBondsMember" name="csan:PercentageOfFairValueOfPlanAssets" unitRef="Pure" id="Tag5334" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.99</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 9.97506%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FixedIncomeBondsMember" name="ifrs-full:AssetsOfBenefitPlan" unitRef="BRL" id="Tag5392" decimals="-3" scale="3" format="ixt:num-dot-decimal">513,470</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.831255%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 7.98005%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FixedIncomeBondsMember" name="csan:PercentageOfFairValueOfPlanAssets" unitRef="Pure" id="Tag5269" decimals="4" scale="-2" format="ixt:num-dot-decimal">99.96</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.08063%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 63.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherSecuritiesMember" name="ifrs-full:AssetsOfBenefitPlan" unitRef="BRL" id="Tag5386" decimals="-3" scale="3" format="ixt:num-dot-decimal">48</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_OtherSecuritiesMember" name="csan:PercentageOfFairValueOfPlanAssets" unitRef="Pure" id="Tag5310" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.01</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 9.97506%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherSecuritiesMember" name="ifrs-full:AssetsOfBenefitPlan" unitRef="BRL" id="Tag5358" decimals="-3" scale="3" format="ixt:num-dot-decimal">180</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.831255%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_OtherSecuritiesMember" name="csan:PercentageOfFairValueOfPlanAssets" unitRef="Pure" id="Tag5279" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.04</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.08063%; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 63.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:AssetsOfBenefitPlan" unitRef="BRL" id="Tag5332" decimals="-3" scale="3" format="ixt:num-dot-decimal">484,895</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="csan:PercentageOfFairValueOfPlanAssets" unitRef="Pure" id="Tag5351" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 9.97506%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="ifrs-full:AssetsOfBenefitPlan" unitRef="BRL" id="Tag5273" decimals="-3" scale="3" format="ixt:num-dot-decimal">513,650</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> <ix:nonFraction contextRef="I20201231" name="csan:PercentageOfFairValueOfPlanAssets" unitRef="Pure" id="Tag5294" decimals="4" scale="-2" format="ixt:num-dot-decimal">100.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.08063%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Plan assets are comprised of financial assets with quoted prices in active markets and therefore are classified as level 1 and level 2 in the valuation hierarchy of fair value. The overall expected rate of return on plan assets in determined based on prevailing market expectations on that date, applicable to the period over which the obligation is to be settled.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The tax effects from this provision are detailed in Note <span style="border-left: none; border-right: none;">15</span>.</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="csan:DisclosureOfDefinedBenefitPlanAssumptionsForBenefitObligationsExplanatory" id="Tag3841" escape="true">
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The main assumptions used to determine the benefit obligations of the Company are&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">as follows:</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<div id="t_ft_JWLU6VEJCG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 183px;" width="100%">
<tbody>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Defined benefit </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Health plan </span></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 10px; border-bottom-width: 1px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 56%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Discount rate (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:ActuarialAssumptionOfDiscountRates" unitRef="Pure" id="Tag5391" decimals="4" scale="-2" format="ixt:num-dot-decimal">8.64</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:ActuarialAssumptionOfDiscountRates" unitRef="Pure" id="Tag5343" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.20</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfDiscountRates" unitRef="Pure" id="Tag5388" decimals="4" scale="-2" format="ixt:num-dot-decimal">9.09</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfDiscountRates" unitRef="Pure" id="Tag5363" decimals="4" scale="-2" format="ixt:num-dot-decimal">7.43</ix:nonFraction>% </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation rate (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation" unitRef="Pure" id="Tag5318" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.25</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation" unitRef="Pure" id="Tag5315" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation" unitRef="Pure" id="Tag5346" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.50</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation" unitRef="Pure" id="Tag5394" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.50</ix:nonFraction>% </span></p>
</td>
<td style="vertical-align: top; height: 19px; border-bottom-width: 1px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Future salary increases (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" unitRef="Pure" id="Tag5287" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.60</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" unitRef="Pure" id="Tag5393" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.60</ix:nonFraction>% </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aging factor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="D20211231_5" name="csan:ActuarialAssumptionOfAgingFactor" unitRef="Pure" id="Tag5286" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Increase in pension plans (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfPensionIncreases" unitRef="Pure" id="Tag5389" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.25</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfPensionIncreases" unitRef="Pure" id="Tag5341" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfPensionIncreases" unitRef="Pure" id="Tag6367" decimals="4" scale="-2" format="ixt:num-dot-decimal">3.00</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20201231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfPensionIncreases" unitRef="Pure" id="Tag5345" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.60</ix:nonFraction>% </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 19px;"></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Overall mortality (segregated by gender) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="csan:ActuarialAssumptionOfMortality" id="Tag5306" escape="true">AT-2000</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; height: 19px;"></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disable mortality table </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="csan:ActuarialAssumptionOfDisableMortalityRates" id="Tag5387" escape="true">IAPB-1957</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 19px;"></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Entry into disability (modified) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="csan:ActuarialAssumptionOfEntryIntoDisability" id="Tag5327" escape="true">UP-84 Modified</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; height: 10px;"></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Turnover </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span><ix:nonNumeric contextRef="D20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="csan:ActuarialAssumptionOfTurnover" id="Tag5293" escape="true">0.60/ (services time +1)</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 10px;"></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Sensitivity analysis</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory" id="Tag3797" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Change in the discount rate for the statement of financial position date in one of the relevant actual assumptions, while maintaining other assumptions, would have affected the defined benefit obligation as shown below:</span></p>
<div id="t_ft_913ZWCMU9S00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 76px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; height: 19px; border-bottom: 1px solid #000000; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Discount rate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 19px; border-bottom: 1px solid #000000; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> <ix:nonFraction contextRef="I20211231" name="ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" unitRef="Pure" id="Tag5380" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.50</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 19px; border-bottom: 1px solid #000000; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (<ix:nonFraction contextRef="I20211231" name="ifrs-full:PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" unitRef="Pure" id="Tag5353" decimals="4" scale="-2" format="ixt:num-dot-decimal">0.50</ix:nonFraction>)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 76%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Defined benefit </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="BRL" id="Tag5298" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">28,170</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_FuturaPensionPlanMember_DefinedBenefitMember" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="BRL" id="Tag5369" decimals="-3" scale="3" format="ixt:num-dot-decimal">30,525</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Health plan </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (<ix:nonFraction contextRef="I20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" unitRef="BRL" id="Tag5270" decimals="-3" scale="3" sign="-" format="ixt:num-dot-decimal">25,019</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonFraction contextRef="I20211231_ComgasPensionPlanMember_PostemploymentMedicalDefinedBenefitPlansMember" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" unitRef="BRL" id="Tag5301" decimals="-3" scale="3" format="ixt:num-dot-decimal">27,708</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="border-right: none; border-left: none;">
<div id="Normadiv55" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DescriptionOfChangesInMethodsAndAssumptionsUsedInPreparingSensitivityAnalysisForActuarialAssumptions" id="Tag6366" escape="true">There was no change in relation to previous years in the methods and assumptions used in preparing the sensitivity analysis.</ix:nonNumeric></span></p>
</div>
</div>
</div>
</div>
</ix:nonNumeric>
</div>
<div>
<div id="t_ft_CP99BXO66O00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-121</span></td>
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</tbody>
</table>
</div>
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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><div id="Normadiv56" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i></i><br/></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory" id="Tag4125" escape="true">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: normal; float: none; display: inline !important;">24.&#160; &#160; Share-based payment</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of share-based payment benefits at the grant date is recognized as employee benefit expense with a corresponding increase in shareholders&#8217; equity for the period in which employees unconditionally acquire the right to benefits.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amount recognized as an expense is adjusted to reflect the number of shares for which there is an expectation that the conditions of service and non-market acquisition conditions will be met in such a way that the amount finally recognized as an expense is based on the number of actions that actually meet the conditions of the service and non-market acquisition conditions on the date the vesting date is acquired. For non-vesting share-based payment benefits, the fair value on the grant date of the share-based payment is measured to reflect such conditions and there is no change to the difference between expected and actual benefits.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The plans have been administered by the Board of Directors, at its option, by a Committee, within the limits established in the guidelines for the preparation and structuring of each plan and in the applicable legislation. Description of share-based payment arrangements follow:</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Employee share scheme (Share-based compensation plan)</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span>A scheme under which share may be issued by the Company to employees for no cash consideration was approved by shareholders at the 2016 annual general meeting.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the scheme, eligible employees may be granted common shares annually for no cash consideration. The number of shares issued to plan participants is the offer amount divided by the weighted average price at which the Company&#8217;s shares are traded on the Stock Exchange. The shares are recognized at the closing share price on the grant date (grant date fair value) as an issue of treasury shares and as part of employee benefit costs in the period the shares are granted.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For equity-settled share-based compensation, expense is based on the grant date of fair value of the awards expected to vest over the vesting period. For awards with graded vesting, the fair value of each tranche is recognized over the respective vesting period. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the statement of profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Black-Scholes methodology was used to calculate the fair value under the terms of the Stock-Based Compensation Plan.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Cash-Settled transactions</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has phantom stock plan that provides for the granting of stock appreciation rights (&#8220;SARs&#8221;) and other cash-based awards to certain employees. SARs provide the opportunity to receive a cash payment equal to the fair market value of the Company&#8217;s common shares less the grant prince. Compensation expense is recognized based on the fair value, measured according to the market-to-market of the Cosan&#160;S.A.&#8217;s shares. Any changes in the liability are recognized in profit or loss.</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Equity-settled transactions</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span>The cost of equity-settled transactions with employees is measured by reference to fair value of the equity instruments on the date on which they are granted and is recognized as an expense over the vesting period, which ends on the date on which the employees become fully entitled to the award. A corresponding credit is recognized within equity. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions). Non-vesting conditions, such as the condition that employees contribute to a savings-related plan, are taken into account in the grant-date fair value, a failure to meet a non-vesting condition, where this within the control of the employee is treated as a cancellation and any remaining unrecognized cost is expensed. The Black-Scholes model was developed for use in estimating the fair value of traded options that have on vesting restrictions. The model requires the use of subjective assumptions, including expected stock-price volatility, expected life of the stock option or stock grant and yield. The last two years of historical data shares value of the Company and subsidiaries have been considered in setting the assumptions.</span></p>
<ix:exclude>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-122</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i><br/></p>
<p><br/></p>
</div>
</ix:exclude>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility has been based on an evaluation of the historical volatility the Company&#8217;s share price, particularly over the historical period commensurate with the expected term. The expected term of the instruments has been based on historical experience and general option holder behavior.</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For other equity-settled share-based payment transactions, the goods or services received and the corresponding increase inequity are measured at the fair value of the goods or services received unless their fair value cannot reliably estimate. If the fair value of the goods and services received cannot be reliably estimated, the transaction is measured by reference to the fair value of the equity instruments granted.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries have Share-Based Compensation Plans that are settled in cash or equity. For the year ended December 31, 2021, the Group has the following share-based payment arrangements:</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span> Plans granted in 2021</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="text-decoration: underline;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Share-based payment plan (Equity-settled)</span></span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" id="Tag4123" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2021, the Company established the following share-based payment arrangements:<br/></span></p>
<div id="t_ft_ZHAZKDWBRK00000000000000000000b">
<table style="height: 110px; width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
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<td style="height: 17px; width: 20%; border-bottom: 1pt solid #000000; padding: 0px 0px 4px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Program</span></b> </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; width: 77%; border-bottom: 1pt solid #000000; padding: 0px 0px 4px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Vesting conditions</span></b> </span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; padding: 0px 0px 10px; vertical-align: top; width: 20%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cosan - Investe I </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; padding: 0px 0px 10px; width: 77%;"><span> <ix:nonNumeric contextRef="D20211231_EquitysettledPlansMember_InvestmentProgramOneMember_PerformanceStocksMember" name="csan:PeriodOfContinuedEmploymentUnderServiceConditions" id="Tag4103" format="ixt-sec:duryear">3</ix:nonNumeric> years of service from the grant date and achievement of specific metrics that can vary between <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramOneMember_PerformanceStocksMember_BottomOfRangeMember" name="csan:PercentageOfAchievementOfSpecificMetrics" unitRef="Pure" id="Tag3929" decimals="2" scale="-2" format="ixt:num-dot-decimal">0</ix:nonFraction>% and <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramOneMember_PerformanceStocksMember_TopOfRangeMember" name="csan:PercentageOfAchievementOfSpecificMetrics" unitRef="Pure" id="Tag3986" decimals="2" scale="-2" format="ixt:num-dot-decimal">200</ix:nonFraction>% (to calculate the fair value, the achievement of <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramOneMember_PerformanceStocksMember" name="csan:PercentageOfAchievementToCalculateFairValue" unitRef="Pure" id="Tag6823" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. </span></td>
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<tr style="height: 17px;">
<td style="height: 17px; padding: 0px 0px 10px; vertical-align: top; width: 20%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cosan - Investe II </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; padding: 0px 0px 10px; width: 77%;"><span> <ix:nonNumeric contextRef="D20211231_EquitysettledPlansMember_InvestmentProgramTwoMember_PerformanceStocksMember" name="csan:PeriodOfContinuedEmploymentUnderServiceConditions" id="Tag4002" format="ixt-sec:duryear">4</ix:nonNumeric> years of service from the grant date and achievement of specific metrics that can vary between <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramTwoMember_PerformanceStocksMember_BottomOfRangeMember" name="csan:PercentageOfAchievementOfSpecificMetrics" unitRef="Pure" id="Tag4004" decimals="2" scale="-2" format="ixt:num-dot-decimal">0</ix:nonFraction>% and <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramTwoMember_PerformanceStocksMember_TopOfRangeMember" name="csan:PercentageOfAchievementOfSpecificMetrics" unitRef="Pure" id="Tag3883" decimals="2" scale="-2" format="ixt:num-dot-decimal">150</ix:nonFraction>% (to calculate the fair value, the achievement of <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramTwoMember_PerformanceStocksMember" name="csan:PercentageOfAchievementToCalculateFairValue" unitRef="Pure" id="Tag3911" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. </span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; width: 20%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cosan - Investe III </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; padding: 0px 0px 10px; width: 77%;"><span> <ix:nonNumeric contextRef="D20211231_EquitysettledPlansMember_InvestmentProgramThreeMember_RestrictedStocksMember" name="csan:PeriodOfContinuedEmploymentUnderServiceConditions" id="Tag4049" format="ixt-sec:duryear">5</ix:nonNumeric> years of service from the grant date with restricted shares and additional restricted shares being delivered. The restricted shares being equivalent to <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_InvestmentProgramThreeMember_RestrictedStocksMember" name="csan:PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" unitRef="Pure" id="Tag4088" decimals="2" scale="-2" format="ixt:num-dot-decimal">25</ix:nonFraction>% of the participant's Long-Term Incentive Program and the additional restricted shares transferred as a result of the Company's Matching. </span></td>
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<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top; width: 20%;" valign="top"><span> Rumo &#8211;Special Program 2021 </span></td>
<td style="height: 10px; width: 3%;"><br/></td>
<td style="height: 10px; padding: 0px 0px 10px; width: 77%;"><span> <ix:nonNumeric contextRef="D20211231_EquitysettledPlansMember_RumoSAMember_SpecialProgram2021Member" name="csan:PeriodOfContinuedEmploymentUnderServiceConditions" id="Tag3895" format="ixt-sec:duryear">5</ix:nonNumeric> years of service from the grant date and achievement of specific metrics. </span></td>
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<tr style="height: 32px;">
<td style="vertical-align: top; height: 32px; width: 20%;" valign="top"><span> Rumo - Program 2021 </span></td>
<td style="height: 32px; width: 3%;"><br/></td>
<td style="padding: 0px; height: 32px; width: 77%;"><span> <ix:nonNumeric contextRef="D20211231_EquitysettledPlansMember_RumoSAMember_OtherThanSpecialProgram2021Member" name="csan:PeriodOfContinuedEmploymentUnderServiceConditions" id="Tag4024" format="ixt-sec:duryear">3</ix:nonNumeric> years of service from the grant date and achievement of specific metrics that can vary between <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_RumoSAMember_OtherThanSpecialProgram2021Member_BottomOfRangeMember" name="csan:PercentageOfAchievementOfSpecificMetrics" unitRef="Pure" id="Tag3901" decimals="2" scale="-2" format="ixt:num-dot-decimal">0</ix:nonFraction>% and <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_RumoSAMember_OtherThanSpecialProgram2021Member_TopOfRangeMember" name="csan:PercentageOfAchievementOfSpecificMetrics" unitRef="Pure" id="Tag3951" decimals="2" scale="-2" format="ixt:num-dot-decimal">150</ix:nonFraction>% (to calculate the fair value, the achievement of <ix:nonFraction contextRef="I20211231_EquitysettledPlansMember_RumoSAMember_OtherThanSpecialProgram2021Member" name="csan:PercentageOfAchievementToCalculateFairValue" unitRef="Pure" id="Tag3997" decimals="2" scale="-2" format="ixt:num-dot-decimal">100</ix:nonFraction>% was considered).</span></td>
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</ix:nonNumeric>
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<p style="margin: 10pt 0pt 10pt 17.85pt; text-align: justify;"><span>In these programs, executives are entitled to shares with consideration of R$<ix:nonFraction contextRef="D20211231_EquitysettledPlansMember" name="csan:ConcessionAmountPerShare" unitRef="BRLPerShare" id="Tag3949" decimals="2" format="ixt:num-dot-decimal">0.01</ix:nonFraction> by executives, in which the concession is conditioned to the fulfillment of certain conditions of acquisition rights. The holders of such shares have the same rights as the holders of shares not subject to a vesting condition (e.g. dividends).<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="text-decoration: underline;">Share-based payment plan (Cash-settled)</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary Compass has awarded a phantom share plan that provides for the granting of share appreciation rights (&#8220;SARs&#8221;) and other cash-based awards to certain employees. SARs provide the opportunity to receive a cash payment equal to the fair market value of the Company's common shares, less the grant price.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>The subsidiary Moove granted a Long-Term Incentive Plan (LTIP): &#8220;Moove Phantom Shares&#8221;. It is a phantom share plan, in which a specific number of units referenced to a theoretical price of shares calculated based on the Group&#8217;s EBITDA of each year, is granted nominally to beneficiaries. The units will be paid in cash, upon fulfilment of the contractual conditions and <ix:nonNumeric contextRef="D20211231_CashSettledTransactionsMember_MooveLubricantsLimitedMember_PhantomStocksMember" name="csan:VestingPeriodShareOptionsGranted" id="Tag4068" format="ixt-sec:duryear">5</ix:nonNumeric> years of vesting period. Payments happen at the end of each cycle (<ix:nonNumeric contextRef="D20211231_CashSettledTransactionsMember_MooveLubricantsLimitedMember_PhantomStocksMember" name="csan:PeriodOfContinuedEmploymentUnderServiceConditions" id="Tag4095" format="ixt-sec:duryear">5</ix:nonNumeric> years after grant date), based on the referenced converted value of the share at that time<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The payment forecast is being provisioned monthly based on EBITDA projections that are reviewed each quarter<br/></span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-123</span></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="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following share-based payment arrangements:<br/></span></p>
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory" id="Tag4124" escape="true">
<table cellpadding="0" style="height: 747px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 41.6256%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Type of award / Grant date </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 13.5447%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Company </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 6.40394%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Expected life (years) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Shares granted </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Exercised / canceled / transferred </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Available </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.60099%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Share-based payment plan </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AprilTwentySevenTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4076" escape="true">April 27, 2017</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AprilTwentySevenTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4120" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AprilTwentySevenTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3925" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_AprilTwentySevenTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4022" decimals="0" format="ixt:num-dot-decimal">1,096,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_AprilTwentySevenTwoThousandSeventeenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3933" decimals="0" sign="-" format="ixt:num-dot-decimal">954,028</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_AprilTwentySevenTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3998" decimals="0" format="ixt:num-dot-decimal">141,972</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4000" escape="true">July 31, 2017</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4091" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3950" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4040" decimals="0" format="ixt:num-dot-decimal">1,192,428</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4010" decimals="0" sign="-" format="ixt:num-dot-decimal">396,848</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3900" decimals="0" format="ixt:num-dot-decimal">795,580</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4016" escape="true">July 31, 2018</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4100" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4070" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4034" decimals="0" format="ixt:num-dot-decimal">842,408</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandEighteenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4030" decimals="0" sign="-" format="ixt:num-dot-decimal">107,576</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4118" decimals="0" format="ixt:num-dot-decimal">734,832</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3964" escape="true">July 31, 2019</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3935" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4114" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4058" decimals="0" format="ixt:num-dot-decimal">229,020</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3913" decimals="0" sign="-" format="ixt:num-dot-decimal">20,080</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3961" decimals="0" format="ixt:num-dot-decimal">208,940</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2020Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3938" escape="true">July 31, 2020</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2020Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag6852" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2020Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag6853" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2020Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4053" decimals="0" format="ixt:num-dot-decimal">68,972</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2020Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3903" decimals="0" sign="-" format="ixt:num-dot-decimal">6,704</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_July31St2020Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4037" decimals="0" format="ixt:num-dot-decimal">62,268</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-right: none; border-left: none;"><ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2021Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4020" escape="true">July 31, 2021</ix:nonNumeric> - Invest I</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2021Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4048" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2021Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3904" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3888" decimals="0" format="ixt:num-dot-decimal">424,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_July31St2021Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3981" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_July31St2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3982" decimals="0" format="ixt:num-dot-decimal">424,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 22px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_September10Th2021Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3902" escape="true">September 10, 2021</ix:nonNumeric> - Invest II </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_September10Th2021Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3939" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_September10Th2021Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3985" format="ixt-sec:duryear">4</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_September10Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3940" decimals="0" format="ixt:num-dot-decimal">5,283,275</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_September10Th2021Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3923" decimals="0" sign="-" format="ixt:num-dot-decimal">660,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_September10Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3971" decimals="0" format="ixt:num-dot-decimal">4,622,865</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_October11Th2021Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4057" escape="true">October 11, 2021</ix:nonNumeric> - Invest III </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_October11Th2021Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4041" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_October11Th2021Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag6782" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_October11Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4059" decimals="0" format="ixt:num-dot-decimal">809,944</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_October11Th2021Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag6860" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_October11Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3994" decimals="0" format="ixt:num-dot-decimal">809,944</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 22px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4033" decimals="0" format="ixt:num-dot-decimal">9,946,886</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3893" decimals="0" sign="-" format="ixt:num-dot-decimal">2,145,646</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3908" decimals="0" format="ixt:num-dot-decimal">7,801,240</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.21065%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.35468%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_AprilTwentyTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag6858" escape="true">April 20, 2017</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_AprilTwentyTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3936" escape="true">Comg&#225;s</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_ComgasMember_AprilTwentyTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3954" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_AprilTwentyTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3955" decimals="0" format="ixt:num-dot-decimal">61,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_AprilTwentyTwoThousandSeventeenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4110" decimals="0" sign="-" format="ixt:num-dot-decimal">61,300</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_ComgasMember_AprilTwentyTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4060" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_AugustTwelveTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3996" escape="true">August 12, 2017</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_AugustTwelveTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4023" escape="true">Comg&#225;s</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_ComgasMember_AugustTwelveTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4026" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_AugustTwelveTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3877" decimals="0" format="ixt:num-dot-decimal">97,780</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_AugustTwelveTwoThousandSeventeenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4067" decimals="0" sign="-" format="ixt:num-dot-decimal">97,780</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_ComgasMember_AugustTwelveTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3979" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3987" escape="true">August 1, 2018</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3952" escape="true">Comg&#225;s</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_ComgasMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3959" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4025" decimals="0" format="ixt:num-dot-decimal">96,787</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3969" decimals="0" sign="-" format="ixt:num-dot-decimal">17,761</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4089" decimals="0" format="ixt:num-dot-decimal">79,026</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4065" escape="true">July 31, 2019</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag6851" escape="true">Comg&#225;s</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_ComgasMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4106" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3962" decimals="0" format="ixt:num-dot-decimal">83,683</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4112" decimals="0" sign="-" format="ixt:num-dot-decimal">14,794</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_JulyThirtyOneTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3946" decimals="0" format="ixt:num-dot-decimal">68,889</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_February01St2020Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3941" escape="true">February 1, 2020</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_February01St2020Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4099" escape="true">Compass G&#225;s e Energia</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_February01St2020Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag6861" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_February01St2020Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3906" decimals="0" format="ixt:num-dot-decimal">1,858,969</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_February01St2020Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4081" decimals="0" sign="-" format="ixt:num-dot-decimal">1,858,969</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_February01St2020Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4014" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasAndCompassGasEEnergiaSAMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4117" decimals="0" format="ixt:num-dot-decimal">2,198,519</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_ComgasAndCompassGasEEnergiaSAMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3973" decimals="0" sign="-" format="ixt:num-dot-decimal">2,050,604</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasAndCompassGasEEnergiaSAMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag6864" decimals="0" format="ixt:num-dot-decimal">147,915</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_JanuaryTwoTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3930" escape="true">January 2, 2017</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_JanuaryTwoTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4047" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_JanuaryTwoTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag6863" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_JanuaryTwoTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4036" decimals="0" format="ixt:num-dot-decimal">1,476,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_JanuaryTwoTwoThousandSeventeenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4082" decimals="0" sign="-" format="ixt:num-dot-decimal">1,476,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_RumoSAMember_JanuaryTwoTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3975" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_SeptemberOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3932" escape="true">September 1, 2017</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_SeptemberOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4071" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_SeptemberOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3977" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_SeptemberOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4087" decimals="0" format="ixt:num-dot-decimal">870,900</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_SeptemberOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3978" decimals="0" sign="-" format="ixt:num-dot-decimal">255,250</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_SeptemberOneTwoThousandSeventeenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4006" decimals="0" format="ixt:num-dot-decimal">615,650</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3989" escape="true">August 1, 2018</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3984" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4079" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3980" decimals="0" format="ixt:num-dot-decimal">1,149,544</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4043" decimals="0" sign="-" format="ixt:num-dot-decimal">308,417</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_AugustOneTwoThousandEighteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3881" decimals="0" format="ixt:num-dot-decimal">841,127</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_AugustFifteenTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4044" escape="true">August 15, 2019</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_AugustFifteenTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3909" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_AugustFifteenTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3992" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_AugustFifteenTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3894" decimals="0" format="ixt:num-dot-decimal">843,152</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_AugustFifteenTwoThousandNineteenMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4061" decimals="0" sign="-" format="ixt:num-dot-decimal">147,214</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_AugustFifteenTwoThousandNineteenMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3999" decimals="0" format="ixt:num-dot-decimal">695,938</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 15px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_November11Th2021Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4035" escape="true">November 11, 2020</ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_November11Th2021Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3968" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_November11Th2021Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4045" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_November11Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4098" decimals="0" format="ixt:num-dot-decimal">776,142</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_November11Th2021Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3880" decimals="0" sign="-" format="ixt:num-dot-decimal">115,303</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_November11Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3974" decimals="0" format="ixt:num-dot-decimal">660,839</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 15px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_May05Th2021Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4038" escape="true">May 05, 2021</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_May05Th2021Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3931" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_May05Th2021Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3898" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_May05Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4115" decimals="0" format="ixt:num-dot-decimal">1,481,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_May05Th2021Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag6862" decimals="0" sign="-" format="ixt:num-dot-decimal">414,702</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_May05Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4092" decimals="0" format="ixt:num-dot-decimal">1,066,298</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 23px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_September15Th2021Member_StockGrantProgramsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3960" escape="true">September 15, 2021</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_RumoSAMember_September15Th2021Member_StockGrantProgramsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3942" escape="true">Rumo</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_RumoSAMember_September15Th2021Member_StockGrantProgramsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4073" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_September15Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4074" decimals="0" format="ixt:num-dot-decimal">1,560,393</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_September15Th2021Member_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4050" decimals="0" sign="-" format="ixt:num-dot-decimal">8,422</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_September15Th2021Member_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag6856" decimals="0" format="ixt:num-dot-decimal">1,551,971</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember_StockGrantProgramsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3970" decimals="0" format="ixt:num-dot-decimal">8,157,131</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_RumoSAMember_StockGrantProgramsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4107" decimals="0" sign="-" format="ixt:num-dot-decimal">2,725,308</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_RumoSAMember_StockGrantProgramsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3943" decimals="0" format="ixt:num-dot-decimal">5,431,823</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Share-based payment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 21px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> plan</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_StockGrantModificationMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3967" escape="true">August 18, 2011</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_StockGrantModificationMember" name="ifrs-full:NameOfSubsidiary" id="Tag3905" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_BottomOfRangeMember_StockGrantModificationMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4077" format="ixt-sec:duryear">1</ix:nonNumeric> to <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_TopOfRangeMember_StockGrantModificationMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4021" format="ixt-sec:duryear">12</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_StockGrantModificationMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3944" decimals="0" format="ixt:num-dot-decimal">6,006,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_StockGrantModificationMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4017" decimals="0" sign="-" format="ixt:num-dot-decimal">6,006,504</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_AugustEighteenTwoThousandElevenTwoMember_StockGrantModificationMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4008" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_StockGrantModificationMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4029" escape="true">August 31, 2015</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_StockGrantModificationMember" name="ifrs-full:NameOfSubsidiary" id="Tag4018" escape="true">Cosan S.A.</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_BottomOfRangeMember_StockGrantModificationMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4005" format="ixt-sec:duryear">5</ix:nonNumeric> to <ix:nonNumeric contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_TopOfRangeMember_StockGrantModificationMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3963" format="ixt-sec:duryear">7</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_StockGrantModificationMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3878" decimals="0" format="ixt:num-dot-decimal">463,906</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_StockGrantModificationMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3945" decimals="0" sign="-" format="ixt:num-dot-decimal">463,906</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_AugustThirtyOneTwoThousandFifteenMember_StockGrantModificationMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3965" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 12px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_StockGrantModificationMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4078" decimals="0" format="ixt:num-dot-decimal">6,470,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember_StockGrantModificationMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3948" decimals="0" sign="-" format="ixt:num-dot-decimal">6,470,410</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="I20211231_CosanSAIndustriaeComercioMember_StockGrantModificationMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4075" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash-settled transactions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_MooveMember_JulyThirtyOneTwoThousandNineteenMember_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3972" escape="true">July 31, 2019</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_MooveMember_JulyThirtyOneTwoThousandNineteenMember_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag6854" escape="true">Moove</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_MooveMember_JulyThirtyOneTwoThousandNineteenMember_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4064" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_JulyThirtyOneTwoThousandNineteenMember_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3956" decimals="0" format="ixt:num-dot-decimal">132,670</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_MooveMember_JulyThirtyOneTwoThousandNineteenMember_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4046" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_MooveMember_JulyThirtyOneTwoThousandNineteenMember_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4032" decimals="0" format="ixt:num-dot-decimal">132,670</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_MooveMember_July31St2020Member_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3990" escape="true">July 31, 2020</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_MooveMember_July31St2020Member_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3879" escape="true">Moove</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_MooveMember_July31St2020Member_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3953" format="ixt-sec:duryear">5</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_July31St2020Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3886" decimals="0" format="ixt:num-dot-decimal">106,952</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_MooveMember_July31St2020Member_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4096" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_MooveMember_July31St2020Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4056" decimals="0" format="ixt:num-dot-decimal">106,952</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_MooveMember_July31St2021Member_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3927" escape="true">July 31, 2021</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_MooveMember_July31St2021Member_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4055" escape="true">Moove</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_MooveMember_July31St2021Member_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4101" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_MooveMember_July31St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3887" decimals="0" format="ixt:num-dot-decimal">80,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_MooveMember_July31St2021Member_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3966" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_MooveMember_July31St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4062" decimals="0" format="ixt:num-dot-decimal">80,729</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021Member_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4086" escape="true">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag3988" escape="true">Compass G&#225;s e Energia</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021Member_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4015" format="ixt-sec:duryear">2</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3896" decimals="0" format="ixt:num-dot-decimal">26,625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021Member_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4042" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_August1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4066" decimals="0" format="ixt:num-dot-decimal">26,625</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_CompasComercializacaoMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3889" escape="true">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_CompasComercializacaoMember" name="ifrs-full:NameOfSubsidiary" id="Tag3958" escape="true">Compass Comercializa&#231;&#227;o</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_CompasComercializacaoMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4102" format="ixt-sec:duryear">2</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_CompasComercializacaoMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4019" decimals="0" format="ixt:num-dot-decimal">31,535</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_CompasComercializacaoMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4108" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_August1St2021Member_CashSettledTransactionsMember_CompasComercializacaoMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3882" decimals="0" format="ixt:num-dot-decimal">31,535</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021TwoMember_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag6859" escape="true">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021TwoMember_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4007" escape="true">Compass G&#225;s e Energia</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021TwoMember_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4051" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021TwoMember_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3928" decimals="0" format="ixt:num-dot-decimal">152,770</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_August1St2021TwoMember_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4084" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_August1St2021TwoMember_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4031" decimals="0" format="ixt:num-dot-decimal">152,770</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_TRSPMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3885" escape="true">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_TRSPMember" name="ifrs-full:NameOfSubsidiary" id="Tag3912" escape="true">TRSP</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_TRSPMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3914" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_TRSPMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4009" decimals="0" format="ixt:num-dot-decimal">33,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_August1St2021Member_CashSettledTransactionsMember_TRSPMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4105" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_August1St2021Member_CashSettledTransactionsMember_TRSPMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4090" decimals="0" format="ixt:num-dot-decimal">33,634</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_ComgasMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag4111" escape="true">November 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_ComgasMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag4116" escape="true">Comg&#225;s</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_ComgasMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag4028" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3891" decimals="0" format="ixt:num-dot-decimal">172,251</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_ComgasMember_November1St2021Member_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag4027" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_ComgasMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3976" decimals="0" format="ixt:num-dot-decimal">172,251</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:DateOfGrantOfSharebasedPaymentArrangement" id="Tag3899" escape="true">November 1<sup><sup><span style="vertical-align: super;">st</span></sup></sup>, <span>2021</span></ix:nonNumeric></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NameOfSubsidiary" id="Tag6855" escape="true">Compass G&#225;s e Energia</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> <ix:nonNumeric contextRef="D20211231_CompassGasEEnergiaSAMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" id="Tag3934" format="ixt-sec:duryear">3</ix:nonNumeric> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag3907" decimals="0" format="ixt:num-dot-decimal">1,474,367</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CompassGasEEnergiaSAMember_November1St2021Member_CashSettledTransactionsMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3937" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CompassGasEEnergiaSAMember_November1St2021Member_CashSettledTransactionsMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3892" decimals="0" format="ixt:num-dot-decimal">1,474,367</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CashSettledTransactionsMember_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag6849" decimals="0" format="ixt:num-dot-decimal">2,211,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_CashSettledTransactionsMember_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3884" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231_CashSettledTransactionsMember_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3924" decimals="0" format="ixt:num-dot-decimal">2,211,533</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4054" decimals="0" format="ixt:num-dot-decimal">28,984,479</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="csan:NumberOfShareOptionsExercisedCanceledTransferred" unitRef="Shares" id="Tag3897" decimals="0" sign="-" format="ixt:num-dot-decimal">13,391,968</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4063" decimals="0" format="ixt:num-dot-decimal">15,592,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<ix:exclude>
<div>
<div style="border-left: none; border-right: none;">
<div id="t_ft_5JRMH5AA0W00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-124</span></td>
</tr>
</tbody>
</table>
</div>
</div>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Measurement of fair values</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" id="Tag4122" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>The weighted average fair value of the programs granted during the financial years ended December 31, 2021 and 2020 and the principal assumptions used in applying the Black-Scholes model were as follows:</span></p>
<div id="t_ft_MSC9B0MJ2800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 106px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td colspan="15" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Stock grant programs </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan S.A. </span></p>
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<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo S.A. </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;" colspan="3">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;" colspan="3">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 28%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Key assumptions </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share price at grant date </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag3890" decimals="2" format="ixt:num-dot-decimal">23.20</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanSAIndustriaeComercioMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag4119" decimals="2" format="ixt:num-dot-decimal">83.73</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag4104" decimals="2" format="ixt:num-dot-decimal">18.20</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag3957" decimals="2" format="ixt:num-dot-decimal">20.01</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20211231_ComgasMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag3991" decimals="2" format="ixt:num-dot-decimal">78.58</ix:nonFraction></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span><ix:nonFraction contextRef="D20201231_ComgasMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag4011" xsi:nil="true"></ix:nonFraction> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CompassGasEEnergiaMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag3947" decimals="2" format="ixt:num-dot-decimal">27.27</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CompassGasEEnergiaMember" name="ifrs-full:WeightedAverageSharePriceShareOptionsGranted2019" unitRef="BRLPerShare" id="Tag4109" decimals="2" format="ixt:num-dot-decimal">13.58</ix:nonFraction> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Risk-free interest rate </span></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;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" unitRef="Pure" id="Tag3995" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.82</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> <ix:nonFraction contextRef="D20201231_CosanSAIndustriaeComercioMember" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" unitRef="Pure" id="Tag3926" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" unitRef="Pure" id="Tag4085" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" unitRef="Pure" id="Tag4093" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" unitRef="Pure" id="Tag4039" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.82</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember" name="ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted" unitRef="Pure" id="Tag4780" decimals="4" scale="-2" format="ixt:num-dot-decimal">6.94</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Volatility factor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_CosanSAIndustriaeComercioMember" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" unitRef="Pure" id="Tag4094" decimals="4" scale="-2" format="ixt:num-dot-decimal">36.50</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_CosanSAIndustriaeComercioMember" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" unitRef="Pure" id="Tag6857" decimals="4" scale="-2" format="ixt:num-dot-decimal">36.50</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_RumoSAMember" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" unitRef="Pure" id="Tag4069" decimals="4" scale="-2" format="ixt:num-dot-decimal">26.51</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_RumoSAMember" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" unitRef="Pure" id="Tag4072" decimals="4" scale="-2" format="ixt:num-dot-decimal">36.50</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_ComgasMember" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" unitRef="Pure" id="Tag3993" decimals="4" scale="-2" format="ixt:num-dot-decimal">32.81</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_ComgasMember" name="ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted" unitRef="Pure" id="Tag4013" decimals="4" scale="-2" format="ixt:num-dot-decimal">32.81</ix:nonFraction>% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</ix:nonNumeric>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Reconciliation of outstanding share options</span></p>
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" id="Tag6865" escape="true">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The movement in the number of awards outstanding and their related weighted-average exercise prices are as follows:</span></p>
<div id="t_ft_RRJ0Z4BV0000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 164px;" width="100%">
<tbody>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 88%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2020<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20191231" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3910" decimals="0" format="ixt:num-dot-decimal">11,478,287</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Granted<sup><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span> </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20201231_4" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4001" decimals="0" format="ixt:num-dot-decimal">3,131,000</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Vested<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20201231" name="csan:NumberOfShareOptionsVestedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag6847" decimals="0" format="ixt:num-dot-decimal">3,875,167</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Canceled<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4083" decimals="0" format="ixt:num-dot-decimal">197,330</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2020<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20201231" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag4113" decimals="0" format="ixt:num-dot-decimal">10,536,790</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Granted </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="D20211231_5" name="ifrs-full:NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4097" decimals="0" format="ixt:num-dot-decimal">11,531,359</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Vested </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="I20211231" name="csan:NumberOfShareOptionsVestedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag4052" decimals="0" format="ixt:num-dot-decimal">6,200,231</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Canceled </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" unitRef="Shares" id="Tag6850" decimals="0" format="ixt:num-dot-decimal">275,407</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> <ix:nonFraction contextRef="I20211231" name="ifrs-full:NumberOfOutstandingShareOptions" unitRef="Shares" id="Tag3983" decimals="0" format="ixt:num-dot-decimal">15,592,511</ix:nonFraction> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
<p><br/></p>
<p style="margin: 0cm 0cm 10pt 53.85pt; text-indent: -18pt; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-list: Ignore;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span></span></span><span><ix:footnote xml:lang="en-US" footnoteRole="http://www.xbrl.org/2003/role/footnote" id="footnote44"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 6, 2021, the Company split the issued shares, in the proportion of <span style="-sec-ix-hidden:Tag7159">1:4</span>, without changing the share capital. The split of shares was approved at the Annual and Extraordinary General Meeting on April 30, 2021.</span></ix:footnote></span></p>
</div>
</ix:nonNumeric>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Expense recognized in profit or loss</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>Share-based compensation expense included in the statement of profit and loss for the years ended December 31, 2021, 2020 and 2019 was R$<ix:nonFraction contextRef="D20211231_5" name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees" unitRef="BRL" id="Tag4012" decimals="-3" scale="3" format="ixt:num-dot-decimal">84,052</ix:nonFraction>, R$<ix:nonFraction contextRef="D20201231_4" name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees" unitRef="BRL" id="Tag4080" decimals="-3" scale="3" format="ixt:num-dot-decimal">293,011</ix:nonFraction> and R$<ix:nonFraction contextRef="D20191231" name="ifrs-full:ExpenseFromSharebasedPaymentTransactionsWithEmployees" unitRef="BRL" id="Tag4003" decimals="-3" scale="3" format="ixt:num-dot-decimal">96,212</ix:nonFraction>, respectively.</span></p>
</div>
</ix:nonNumeric>
</div>
</div><div id="Normadiv57" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<ix:nonNumeric contextRef="D20211231_5" name="ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory" id="Tag6131" escape="true">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">25.&#160; &#160; Subsequent events</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent material events that began before the end of the year ended December 31, 2021 and ended after that date were included in note 2 so that users of the consolidated financial statements have a better understanding of these events.</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Extraordinary Shareholders&#8217; Meeting</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 29, 2022, the Extraordinary Shareholders&#8217; Meeting approved a capital increase in the amount of R$<ix:nonFraction contextRef="I20220429_ExtraordinaryShareholdersMeetingMember" name="csan:ApprovalAmountOfIncreaseInShareCapital" unitRef="BRL" id="Tag7131" decimals="-3" scale="3" format="ixt:num-dot-decimal">2,036,691</ix:nonFraction> and the increase in the Company&#8217;s authorized capital to up to R$<ix:nonFraction contextRef="I20220429_ExtraordinaryShareholdersMeetingMember" name="csan:AmountOfSharesAuthorised" unitRef="BRL" id="Tag7014" decimals="-3" scale="3" format="ixt:num-dot-decimal">9,000,000</ix:nonFraction>.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Conclusion of the Acquisition of the Lubricants Business by Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 2, 2022, Ra&#237;zen concluded the total acquisition of the lubrificants business of Shell Brasil Petr&#243;leo Ltda.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Cosan&#8217;s fourth debenture issuance</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 6, 2022, Cosan issued debentures in an aggregate principal amount of R$<ix:nonFraction contextRef="I20220506_DebenturesIssuedMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag7128" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,500,000</ix:nonFraction> divided into two tranches. The first tranche is in an aggregate principal amount of R$<ix:nonFraction contextRef="I20220506_DebenturesIssuedMember_FirstTrancheMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag7120" decimals="-3" scale="3" format="ixt:num-dot-decimal">400,000</ix:nonFraction>, accrues interest at a rate equal to the <ix:nonNumeric contextRef="D20220506_DebenturesIssuedMember_FirstTrancheMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag7129" escape="true">CDI plus <span style="border-left: none; border-right: none;">1.50</span>%</ix:nonNumeric> and matures in <ix:nonNumeric contextRef="D20220506_DebenturesIssuedMember_FirstTrancheMember" name="ifrs-full:BorrowingsMaturity" id="Tag7127" escape="true">May 2028</ix:nonNumeric>, with the principal being due at maturity. The second tranche is in an aggregate principal amount of R$<ix:nonFraction contextRef="I20220506_SecondTrancheMember" name="ifrs-full:NotionalAmount" unitRef="BRL" id="Tag7016" decimals="-3" scale="3" format="ixt:num-dot-decimal">1,100,000</ix:nonFraction>, accrues interest at a rate equal to the <ix:nonNumeric contextRef="D20220506_SecondTrancheMember" name="ifrs-full:BorrowingsInterestRateBasis" id="Tag7132" escape="true">CDI plus <span style="border-left: none; border-right: none;">1.90</span>%</ix:nonNumeric> and matures in <ix:nonNumeric contextRef="D20220506_SecondTrancheMember" name="ifrs-full:BorrowingsMaturity" id="Tag7130" escape="true">May 2032</ix:nonNumeric>, with the principal being due in the eighth, ninth and tenth years of the term.</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Share buyback program</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 9, 2022, our board of directors approved a new share buyback program pursuant to which up to <ix:nonFraction contextRef="D20220509_NewShareBuybackProgramMember" name="csan:NumberOfSharesBuybackAuthorised" unitRef="Shares" id="Tag7133" decimals="0" format="ixt:num-dot-decimal">110,000,000</ix:nonFraction> common shares of Cosan S.A. representing <ix:nonFraction contextRef="I20220509_NewShareBuybackProgramMember" name="csan:PercentageOfBuybackSharesRepresentTotalShares" unitRef="Pure" id="Tag7119" decimals="4" scale="-2" format="ixt:num-dot-decimal">5.87</ix:nonFraction>% of our total shares may be repurchased over a period of <span style="-sec-ix-hidden:Tag7200"><span style="border-left: none; border-right: none;">18</span> months</span> from the date of approval. The shares repurchased may be used to meet our obligations from potential exercises of our equity-based compensation plans, and may also be held in treasury, disposed of or cancelled in accordance with applicable law. This share buyback program supersedes our previous share buyback program which had been approved on March 26, 2021.</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><br/></p>
</ix:nonNumeric>
</div>
<div>
<div id="t_ft_IT3QWR6KZ400000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-125</span></td>
</tr>
</tbody>
</table>
</div>
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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 0pt 10pt 17.85pt; text-align: justify;"><br/></p>
<p><br/></p>
</div><div id="Normadiv58" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div id="Normadiv59" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
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<div id="Normadiv60" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; font-weight: bold; float: none; display: inline !important;">26.<span><span>&#160; &#160;</span> Recent accounting developments adopted by the Company</span></span></p>
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<div style="font-family: 'times new roman', times; font-size: 10pt;"><br/></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
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<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; border: 1pt solid #000000; height: 20px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="color: #ffffff; font-weight: bold;">Applicable standard</span></span></p>
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<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; border: 1pt solid #000000; height: 20px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Key requirements</span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; border: 1pt solid #000000; height: 20px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Impact</span></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000; width: 25%; height: 99px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest Rate Benchmark Reform (Phase 1)</span></p>
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Amendments to IFRS 9, IAS 39 and IFRS 7</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000; width: 50%; height: 99px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amendments modified specific hedge accounting requirements so entities can continue to forecast future cash flows assuming that the interest rate benchmark continue despite ongoing reviews of interest rate benchmark reform. As a result, there is no requirement for an entity to discontinue hedge relationships or to reassess the economic relationships between hedged items and hedging instruments as a result of the uncertainties of the interest rate benchmark reform.</span></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000; width: 25%; height: 99px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For phase 1 and 2, we do not have significant derivatives that refer to an interest rate benchmark, so these amendments have not had a material impact in the Company.</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">COVID-19 &#8722; Related Rent Concessions (Amendment to IFRS 16)</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the practical expedient, lessees are not required to assess whether eligible rent concessions are lease modifications, and instead are permitted to account for them as if they were not lease modifications. Rent concessions are eligible for the practical expedient if they occur as a direct consequence of the COVID-19 pandemic and if all of the following criteria are met:</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8226;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span>the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change;</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8226;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span>any reduction in lease payments affects only payments originally due on or before June 30, 2022; and</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8226;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span>there is no substantive change to the other terms and conditions of the lease.</span></p>
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amendment is effective for annual periods beginning on or after June 1, 2020.</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There has been no change in the consideration for the leases that we are both lessees and lessors.</span></p>
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<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All other standards or amendments to standards that have been issued by the IASB and were effective by January 1, 2021, were not applicable or material to the Company.</span></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><span style="font-size: 10pt;" class="pageno">F-126</span></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 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><br/></p>
<p><br/></p>
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<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: right;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">27.&#160; &#160; New standards and interpretations not yet effective</span></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br/></span></span></p>
<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: justify; text-indent: 35.45pt; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following new standards, interpretations and amendments were issued by the IASB, but are not effective for annual periods beginning after January 1, 2021. Although early adoption is permitted, the Company did not adopt them in advance in the preparation of these consolidated financial statements. In addition, based on an initial review the Company does not currently believe adoption of the following standard/amendments will have a material impact on the consolidated profit or loss or financial position of the Company.&#160;</span></p>
<div id="t_ft_B0MNV8MKPC00000000000000000000b">
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<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: center; widows: 0;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Applicable standard </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: center; widows: 0;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Key requirements or changes in accounting policy </span></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 30%; border: 1pt solid #000000;">
<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest Rate Benchmark Reform (Phase 2) Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Effective from the year ended December 31, 2021 &#160; </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 70%; border: 1pt solid #000000;">
<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> The amendments are applicable when an existing interest rate benchmark is replaced by another interest rate benchmark. The amendments provide a practical expedient that modifications to asset and liability values as a direct consequence of the interest rate benchmark reform and made on an economically equivalent basis (i.e., where the basis for determining contractual cash flows is the same), can be accounted for by only updating the effective interest rate. Additionally, hedge accounting is not discontinued solely because of the replacement of another interest rate benchmark. Hedging relationships (and related documentation) must instead be amended to reflect modifications to the hedged item, hedging instrument and hedged risk. </span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IFRS 17 Insurance Contracts Effective from the year ended December 31, 2023 </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border: 1pt solid #000000;">
<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> This standard introduces a new model for accounting for insurance contracts. Work continues to review existing arrangements to determine the impact on adoption. </span></p>
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<p style="margin: 0pt; orphans: 0; text-align: justify; text-indent: 35.45pt; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: justify; text-indent: 35.45pt; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All other standards or amendments to standards that have been issued by the IASB and are effective from January 1, 2022, onwards are not applicable or material to the Company.&#160;</span></p>
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<td class="pgno" style="padding: 0px; text-align: center; height: 17px;"><span style="font-size: 10pt;" class="pageno">F-127</span></td>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>6
<FILENAME>csan-20211231_def.xml
<DESCRIPTION>DEFINITION
<TEXT>
<XBRL>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:title="ifrs-full_SegmentConsolidationItemsAxis" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:title="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" />
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:title="Definition : ifrs-full_SegmentConsolidationItemsAxis to ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="arc" use="optional" order="0" xbrldt:closed="false" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:title="ifrs-full_EliminationOfIntersegmentAmountsMember" />
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:title="Definition : ifrs-full_EntitysTotalForSegmentConsolidationItemsMember to ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="arc" use="optional" order="0" xbrldt:closed="false" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:title="ifrs-full_GeographicalAreasAxis" />
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    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="country_BR" xlink:title="Definition : ifrs-full_GeographicalAreasMember to country_BR" xlink:type="arc" use="optional" order="0" xbrldt:closed="false" />
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    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="ifrs-full_DepreciationAndAmortisationExpense" xlink:title="Calculation : ifrs-full_ExpenseByNature to ifrs-full_DepreciationAndAmortisationExpense" order="3" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailroadTransportationAndPortElevationExpenses" xlink:label="csan_RailroadTransportationAndPortElevationExpenses" xlink:title="csan_RailroadTransportationAndPortElevationExpenses" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="csan_RailroadTransportationAndPortElevationExpenses" xlink:title="Calculation : ifrs-full_ExpenseByNature to csan_RailroadTransportationAndPortElevationExpenses" order="4" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfElectricalEnergyPurchasedForResale" xlink:label="csan_CostOfElectricalEnergyPurchasedForResale" xlink:title="csan_CostOfElectricalEnergyPurchasedForResale" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="csan_CostOfElectricalEnergyPurchasedForResale" xlink:title="Calculation : ifrs-full_ExpenseByNature to csan_CostOfElectricalEnergyPurchasedForResale" order="5" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConstructionCost" xlink:label="csan_ConstructionCost" xlink:title="csan_ConstructionCost" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="csan_ConstructionCost" xlink:title="Calculation : ifrs-full_ExpenseByNature to csan_ConstructionCost" order="6" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NaturalGasTransportationCost" xlink:label="csan_NaturalGasTransportationCost" xlink:title="csan_NaturalGasTransportationCost" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="csan_NaturalGasTransportationCost" xlink:title="Calculation : ifrs-full_ExpenseByNature to csan_NaturalGasTransportationCost" order="7" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SalesAndMarketingExpense" xlink:label="ifrs-full_SalesAndMarketingExpense" xlink:title="ifrs-full_SalesAndMarketingExpense" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="ifrs-full_SalesAndMarketingExpense" xlink:title="Calculation : ifrs-full_ExpenseByNature to ifrs-full_SalesAndMarketingExpense" order="8" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherExpenseByNature" xlink:label="ifrs-full_OtherExpenseByNature" xlink:title="ifrs-full_OtherExpenseByNature" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature" xlink:title="Calculation : ifrs-full_ExpenseByNature to ifrs-full_OtherExpenseByNature" order="9" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTransportExpenses" xlink:label="csan_OtherTransportExpenses" xlink:title="csan_OtherTransportExpenses" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="csan_OtherTransportExpenses" xlink:title="Calculation : ifrs-full_ExpenseByNature to csan_OtherTransportExpenses" order="10" weight="1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExpensesWithThirdPartyServices" xlink:label="csan_ExpensesWithThirdPartyServices" xlink:title="csan_ExpensesWithThirdPartyServices" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ExpenseByNature" xlink:to="csan_ExpensesWithThirdPartyServices" xlink:title="Calculation : ifrs-full_ExpenseByNature to csan_ExpensesWithThirdPartyServices" order="11" weight="1" />
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  <link:calculationLink xlink:type="extended" xlink:role="http://www.cosan.com/role/PostEmploymentBenefitsSummaryOfExpenseRecognizedInProfitOrLossDetail">
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:title="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:title="Calculation : csan_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset to ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:title="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:title="Calculation : csan_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset to ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" order="1" weight="1" use="optional" />
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  <link:calculationLink xlink:type="extended" xlink:role="http://www.cosan.com/role/OtherTaxReceivablesSummaryofOtherTaxReceivablesDetail">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" xlink:title="ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" xlink:to="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="Calculation : ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax to ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" xlink:to="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="Calculation : ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax to ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" order="1" weight="1" use="optional" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://www.cosan.com/role/IncomeTaxAndSocialContributionSummaryOfDeferredIncomeTaxAssetsAndLiabilitiesDetail">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:title="ifrs-full_DeferredTaxLiabilityAsset" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:label="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:title="csan_DeferredTaxAssetsTemporaryDifferencesNet" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:title="Calculation : ifrs-full_DeferredTaxLiabilityAsset to csan_DeferredTaxAssetsTemporaryDifferencesNet" order="0" weight="-1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxIncomeTaxLossCarryForwards" xlink:label="csan_DeferredTaxIncomeTaxLossCarryForwards" xlink:title="csan_DeferredTaxIncomeTaxLossCarryForwards" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxIncomeTaxLossCarryForwards" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxIncomeTaxLossCarryForwards" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxSocialContributionTaxLossCarryForwards" xlink:label="csan_DeferredTaxSocialContributionTaxLossCarryForwards" xlink:title="csan_DeferredTaxSocialContributionTaxLossCarryForwards" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxSocialContributionTaxLossCarryForwards" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxSocialContributionTaxLossCarryForwards" order="1" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsShareBasedPayments" xlink:label="csan_DeferredTaxAssetsShareBasedPayments" xlink:title="csan_DeferredTaxAssetsShareBasedPayments" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsShareBasedPayments" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsShareBasedPayments" order="2" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:label="csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:title="csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" order="3" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsProfitSharing" xlink:label="csan_DeferredTaxAssetsProfitSharing" xlink:title="csan_DeferredTaxAssetsProfitSharing" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsProfitSharing" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsProfitSharing" order="4" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetImpairmentOfTaxCredit" xlink:label="csan_DeferredTaxAssetImpairmentOfTaxCredit" xlink:title="csan_DeferredTaxAssetImpairmentOfTaxCredit" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetImpairmentOfTaxCredit" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetImpairmentOfTaxCredit" order="5" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsInterestOnEquity" xlink:label="csan_DeferredTaxAssetsInterestOnEquity" xlink:title="csan_DeferredTaxAssetsInterestOnEquity" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsInterestOnEquity" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsInterestOnEquity" order="6" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:label="csan_DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:title="csan_DeferredTaxAssetProvisionsForEmployeeBenefits" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetProvisionsForEmployeeBenefits" order="7" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsImpairmentOfAssets" xlink:label="csan_DeferredTaxAssetsImpairmentOfAssets" xlink:title="csan_DeferredTaxAssetsImpairmentOfAssets" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsImpairmentOfAssets" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsImpairmentOfAssets" order="8" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetLegalProceedingsProvision" xlink:label="csan_DeferredTaxAssetLegalProceedingsProvision" xlink:title="csan_DeferredTaxAssetLegalProceedingsProvision" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetLegalProceedingsProvision" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetLegalProceedingsProvision" order="9" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetMiscellaneousProvisions" xlink:label="csan_DeferredTaxAssetMiscellaneousProvisions" xlink:title="csan_DeferredTaxAssetMiscellaneousProvisions" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetMiscellaneousProvisions" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetMiscellaneousProvisions" order="10" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" xlink:label="csan_DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" xlink:title="csan_DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" order="11" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsLeaseTransactions" xlink:label="csan_DeferredTaxAssetsLeaseTransactions" xlink:title="csan_DeferredTaxAssetsLeaseTransactions" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsLeaseTransactions" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsLeaseTransactions" order="12" weight="1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsForeignCurrencyLosses" xlink:label="csan_DeferredTaxAssetsForeignCurrencyLosses" xlink:title="csan_DeferredTaxAssetsForeignCurrencyLosses" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsForeignCurrencyLosses" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsForeignCurrencyLosses" order="13" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsOtherTemporaryDifferences" xlink:label="csan_DeferredTaxAssetsOtherTemporaryDifferences" xlink:title="csan_DeferredTaxAssetsOtherTemporaryDifferences" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxAssetsTemporaryDifferencesNet" xlink:to="csan_DeferredTaxAssetsOtherTemporaryDifferences" xlink:title="Calculation : csan_DeferredTaxAssetsTemporaryDifferencesNet to csan_DeferredTaxAssetsOtherTemporaryDifferences" order="14" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsNotRecognised" xlink:label="csan_DeferredTaxAssetsNotRecognised" xlink:title="csan_DeferredTaxAssetsNotRecognised" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="csan_DeferredTaxAssetsNotRecognised" xlink:title="Calculation : ifrs-full_DeferredTaxLiabilityAsset to csan_DeferredTaxAssetsNotRecognised" order="1" weight="-1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesTemporaryDifferences" xlink:label="csan_DeferredTaxLiabilitiesTemporaryDifferences" xlink:title="csan_DeferredTaxLiabilitiesTemporaryDifferences" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="csan_DeferredTaxLiabilitiesTemporaryDifferences" xlink:title="Calculation : ifrs-full_DeferredTaxLiabilityAsset to csan_DeferredTaxLiabilitiesTemporaryDifferences" order="2" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesFairValueOptionInLoans" xlink:label="csan_DeferredTaxLiabilitiesFairValueOptionInLoans" xlink:title="csan_DeferredTaxLiabilitiesFairValueOptionInLoans" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxLiabilitiesTemporaryDifferences" xlink:to="csan_DeferredTaxLiabilitiesFairValueOptionInLoans" xlink:title="Calculation : csan_DeferredTaxLiabilitiesTemporaryDifferences to csan_DeferredTaxLiabilitiesFairValueOptionInLoans" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:label="csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:title="csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_DeferredTaxLiabilitiesTemporaryDifferences" xlink:to="csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:title="Calculation : csan_DeferredTaxLiabilitiesTemporaryDifferences to csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" order="1" weight="1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesLeaseTransactions" xlink:label="csan_DeferredTaxLiabilitiesLeaseTransactions" xlink:title="csan_DeferredTaxLiabilitiesLeaseTransactions" />
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    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="Calculation : ifrs-full_OtherComprehensiveIncome to ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" order="1" weight="1" use="optional" />
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    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_CurrentFuel" xlink:title="Calculation : ifrs-full_Inventories to ifrs-full_CurrentFuel" order="2" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SpareParts" xlink:label="ifrs-full_SpareParts" xlink:title="ifrs-full_SpareParts" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_SpareParts" xlink:title="Calculation : ifrs-full_Inventories to ifrs-full_SpareParts" order="3" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WarehouseAndOthers" xlink:label="csan_WarehouseAndOthers" xlink:title="csan_WarehouseAndOthers" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageShares" xlink:label="ifrs-full_WeightedAverageShares" xlink:title="ifrs-full_WeightedAverageShares" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_WeightedAverageShares" xlink:title="Calculation : ifrs-full_AdjustedWeightedAverageShares to ifrs-full_WeightedAverageShares" order="0" weight="1" use="optional" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:label="ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:title="ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" xlink:label="csan_DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" xlink:title="csan_DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BusinessCombinationNetOfCashAcquired" xlink:label="csan_BusinessCombinationNetOfCashAcquired" xlink:title="csan_BusinessCombinationNetOfCashAcquired" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:label="csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:title="csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:label="csan_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:title="csan_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:label="csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:title="csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" />
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    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_CostOfDebtGross" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="Calculation : csan_CostOfDebtGross to ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" order="1" weight="-1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:label="csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:title="csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="csan_CostOfDebtGross" xlink:to="csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:title="Calculation : csan_CostOfDebtGross to csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" order="2" weight="-1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmortizationOfBorrowingCost" xlink:label="csan_AmortizationOfBorrowingCost" xlink:title="csan_AmortizationOfBorrowingCost" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceAndWarrantiesOnDebt" xlink:label="csan_FinanceAndWarrantiesOnDebt" xlink:title="csan_FinanceAndWarrantiesOnDebt" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestExpenseOnContingenciesAndContracts" xlink:label="csan_InterestExpenseOnContingenciesAndContracts" xlink:title="csan_InterestExpenseOnContingenciesAndContracts" />
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  <link:calculationLink xlink:type="extended" xlink:role="http://www.cosan.com/role/FinancialAssetsAndLiabilitiesSummaryOfOfficersAndDirectorsCompensationDetail">
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    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_KeyManagementPersonnelCompensation" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="Calculation : ifrs-full_KeyManagementPersonnelCompensation to ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" order="0" weight="1" use="optional" />
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    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_InvestmentProperty" xlink:title="Calculation : ifrs-full_NoncurrentAssets to ifrs-full_InvestmentProperty" order="17" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LongtermDepositsNotClassifiedAsCashEquivalents" xlink:label="csan_LongtermDepositsNotClassifiedAsCashEquivalents" xlink:title="csan_LongtermDepositsNotClassifiedAsCashEquivalents" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="csan_LongtermDepositsNotClassifiedAsCashEquivalents" xlink:title="Calculation : ifrs-full_NoncurrentAssets to csan_LongtermDepositsNotClassifiedAsCashEquivalents" order="18" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:title="ifrs-full_EquityAndLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:title="ifrs-full_Liabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_Liabilities" xlink:title="Calculation : ifrs-full_EquityAndLiabilities to ifrs-full_Liabilities" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:title="ifrs-full_CurrentLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_CurrentLiabilities" xlink:title="Calculation : ifrs-full_Liabilities to ifrs-full_CurrentLiabilities" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings" xlink:title="ifrs-full_ShorttermBorrowings" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_ShorttermBorrowings" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_ShorttermBorrowings" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceLeaseLiabilitiesCurrent" xlink:label="csan_FinanceLeaseLiabilitiesCurrent" xlink:title="csan_FinanceLeaseLiabilitiesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="csan_FinanceLeaseLiabilitiesCurrent" xlink:title="Calculation : ifrs-full_CurrentLiabilities to csan_FinanceLeaseLiabilitiesCurrent" order="1" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:title="ifrs-full_CurrentDerivativeFinancialLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_CurrentDerivativeFinancialLiabilities" order="2" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:title="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" order="3" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:label="ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan" order="4" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:title="ifrs-full_CurrentTaxLiabilitiesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_CurrentTaxLiabilitiesCurrent" order="5" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" order="6" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentDividendPayables" xlink:label="ifrs-full_CurrentDividendPayables" xlink:title="ifrs-full_CurrentDividendPayables" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentDividendPayables" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_CurrentDividendPayables" order="7" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentConcessionsPayables" xlink:label="csan_CurrentConcessionsPayables" xlink:title="csan_CurrentConcessionsPayables" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="csan_CurrentConcessionsPayables" xlink:title="Calculation : ifrs-full_CurrentLiabilities to csan_CurrentConcessionsPayables" order="8" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:title="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" order="9" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentSectorFinancialLiabilities" xlink:label="csan_CurrentSectorFinancialLiabilities" xlink:title="csan_CurrentSectorFinancialLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="csan_CurrentSectorFinancialLiabilities" xlink:title="Calculation : ifrs-full_CurrentLiabilities to csan_CurrentSectorFinancialLiabilities" order="10" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentFinancialLiabilities" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities" xlink:title="ifrs-full_OtherCurrentFinancialLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_OtherCurrentFinancialLiabilities" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_OtherCurrentFinancialLiabilities" order="11" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="ifrs-full_OtherCurrentLiabilities" xlink:title="ifrs-full_OtherCurrentLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_OtherCurrentLiabilities" xlink:title="Calculation : ifrs-full_CurrentLiabilities to ifrs-full_OtherCurrentLiabilities" order="12" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:title="ifrs-full_NoncurrentLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_NoncurrentLiabilities" xlink:title="Calculation : ifrs-full_Liabilities to ifrs-full_NoncurrentLiabilities" order="1" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:title="ifrs-full_LongtermBorrowings" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_LongtermBorrowings" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_LongtermBorrowings" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceLeaseLiabilitiesNonCurrent" xlink:label="csan_FinanceLeaseLiabilitiesNonCurrent" xlink:title="csan_FinanceLeaseLiabilitiesNonCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="csan_FinanceLeaseLiabilitiesNonCurrent" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to csan_FinanceLeaseLiabilitiesNonCurrent" order="1" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:label="csan_PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:title="csan_PreferredShareholdersPayableSubsidiariesNonCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="csan_PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to csan_PreferredShareholdersPayableSubsidiariesNonCurrent" order="2" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:title="ifrs-full_NoncurrentDerivativeFinancialLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_NoncurrentDerivativeFinancialLiabilities" order="3" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" order="4" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LongtermLegalProceedingsProvision" xlink:label="ifrs-full_LongtermLegalProceedingsProvision" xlink:title="ifrs-full_LongtermLegalProceedingsProvision" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_LongtermLegalProceedingsProvision" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_LongtermLegalProceedingsProvision" order="5" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NoncurrentConcessionsPayables" xlink:label="csan_NoncurrentConcessionsPayables" xlink:title="csan_NoncurrentConcessionsPayables" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="csan_NoncurrentConcessionsPayables" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to csan_NoncurrentConcessionsPayables" order="6" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:title="ifrs-full_OtherNoncurrentFinancialLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_OtherNoncurrentFinancialLiabilities" order="7" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:label="ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" order="8" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:title="ifrs-full_DeferredTaxLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_DeferredTaxLiabilities" order="9" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonCurrentSectorFinancialLiabilities" xlink:label="csan_NonCurrentSectorFinancialLiabilities" xlink:title="csan_NonCurrentSectorFinancialLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="csan_NonCurrentSectorFinancialLiabilities" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to csan_NonCurrentSectorFinancialLiabilities" order="10" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:title="ifrs-full_OtherNoncurrentLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_OtherNoncurrentLiabilities" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_OtherNoncurrentLiabilities" order="11" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:label="ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:title="ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:title="Calculation : ifrs-full_NoncurrentLiabilities to ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" order="12" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:title="ifrs-full_Equity" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_Equity" xlink:title="Calculation : ifrs-full_EquityAndLiabilities to ifrs-full_Equity" order="1" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:title="ifrs-full_EquityAttributableToOwnersOfParent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent" xlink:title="Calculation : ifrs-full_Equity to ifrs-full_EquityAttributableToOwnersOfParent" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital" xlink:title="ifrs-full_IssuedCapital" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_IssuedCapital" xlink:title="Calculation : ifrs-full_EquityAttributableToOwnersOfParent to ifrs-full_IssuedCapital" order="0" weight="1" use="optional" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" xlink:title="ifrs-full_TreasuryShares" />
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>9
<FILENAME>csan-20211231_lab.xml
<DESCRIPTION>LABEL
<TEXT>
<XBRL>
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<!--Created by 2H Software, Powered by IRIS Carbon, Unique Code 627ecfc639fddb04f4fecdb5, Generated At Fri, 13 May 2022 21:42:12 GMT-->
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    <link:label xlink:type="resource" xlink:label="label_DocumentPeriodEndDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DocumentPeriodEndDate_1" xml:lang="en-US" id="label_DocumentPeriodEndDate_1">Document Period End Date</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentType" xlink:to="label_DocumentType" xlink:title="Label : DocumentType to label_DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_DocumentType_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DocumentType_1" xml:lang="en-US" id="label_DocumentType_1">Document Type</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLubesInvestmentsLimitedMember" xlink:label="CosanLubesInvestmentsLimitedMember" xlink:title="CosanLubesInvestmentsLimitedMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubesInvestmentsLimitedMember" xlink:to="label_CosanLubesInvestmentsLimitedMember" xlink:title="Label : CosanLubesInvestmentsLimitedMember to label_CosanLubesInvestmentsLimitedMember" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditorFirmId" xlink:label="AuditorFirmId" xlink:title="AuditorFirmId" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August2031Member" xlink:label="August2031Member" xlink:title="August2031Member" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point75PercentMember" xlink:to="label_IPCAIndexPlus5Point75PercentMember" xlink:title="Label : IPCAIndexPlus5Point75PercentMember to label_IPCAIndexPlus5Point75PercentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point75PercentMember" xlink:to="label_IPCAIndexPlus5Point75PercentMember_2" xlink:title="Label : IPCAIndexPlus5Point75PercentMember to label_IPCAIndexPlus5Point75PercentMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point22PercentMember" xlink:to="label_IPCAIndexPlus5Point22PercentMember_2" xlink:title="Label : IPCAIndexPlus5Point22PercentMember to label_IPCAIndexPlus5Point22PercentMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point12PercentMember" xlink:to="label_IPCAIndexPlus5Point12PercentMember" xlink:title="Label : IPCAIndexPlus5Point12PercentMember to label_IPCAIndexPlus5Point12PercentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point12PercentMember" xlink:to="label_IPCAIndexPlus5Point12PercentMember_1" xlink:title="Label : IPCAIndexPlus5Point12PercentMember to label_IPCAIndexPlus5Point12PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point12PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus5Point12PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus5Point12PercentMember_2">IPCA +&#xA0;5.12%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point12PercentMember" xlink:to="label_IPCAIndexPlus5Point12PercentMember_2" xlink:title="Label : IPCAIndexPlus5Point12PercentMember to label_IPCAIndexPlus5Point12PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus1Point95PercentMember" xlink:label="CDIIndexPlus1Point95PercentMember" xlink:title="CDIIndexPlus1Point95PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point95PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus1Point95PercentMember" xml:lang="en-US" id="label_CDIIndexPlus1Point95PercentMember">This member stands for the information pertaining to index CDI + 1.95%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point95PercentMember" xlink:to="label_CDIIndexPlus1Point95PercentMember" xlink:title="Label : CDIIndexPlus1Point95PercentMember to label_CDIIndexPlus1Point95PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point95PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus1Point95PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus1Point95PercentMember_1">CDI Index Plus 1 Point 95 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point95PercentMember" xlink:to="label_CDIIndexPlus1Point95PercentMember_1" xlink:title="Label : CDIIndexPlus1Point95PercentMember to label_CDIIndexPlus1Point95PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point95PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus1Point95PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus1Point95PercentMember_2">CDI + 1.95%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point95PercentMember" xlink:to="label_CDIIndexPlus1Point95PercentMember_2" xlink:title="Label : CDIIndexPlus1Point95PercentMember to label_CDIIndexPlus1Point95PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point54PercentMember" xlink:label="IPCAIndexPlus4Point54PercentMember" xlink:title="IPCAIndexPlus4Point54PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point54PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point54PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point54PercentMember">This member stands for the information pertaining to index IPCA +&#xA0;4.54%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point54PercentMember" xlink:to="label_IPCAIndexPlus4Point54PercentMember" xlink:title="Label : IPCAIndexPlus4Point54PercentMember to label_IPCAIndexPlus4Point54PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point54PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point54PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point54PercentMember_1">IPCA Index Plus 4 Point 54 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point54PercentMember" xlink:to="label_IPCAIndexPlus4Point54PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point54PercentMember to label_IPCAIndexPlus4Point54PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point54PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point54PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point54PercentMember_2">IPCA + 4.54%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point54PercentMember" xlink:to="label_IPCAIndexPlus4Point54PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point54PercentMember to label_IPCAIndexPlus4Point54PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus5Point73PercentMember" xlink:label="IPCAIndexPlus5Point73PercentMember" xlink:title="IPCAIndexPlus5Point73PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point73PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus5Point73PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus5Point73PercentMember">This member stands for the information pertaining to index IPCA +&#xA0;5.73%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point73PercentMember" xlink:to="label_IPCAIndexPlus5Point73PercentMember" xlink:title="Label : IPCAIndexPlus5Point73PercentMember to label_IPCAIndexPlus5Point73PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point73PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus5Point73PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus5Point73PercentMember_1">IPCA Index Plus 5 Point 73 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point73PercentMember" xlink:to="label_IPCAIndexPlus5Point73PercentMember_1" xlink:title="Label : IPCAIndexPlus5Point73PercentMember to label_IPCAIndexPlus5Point73PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point73PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus5Point73PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus5Point73PercentMember_2">IPCA + 5.73%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point73PercentMember" xlink:to="label_IPCAIndexPlus5Point73PercentMember_2" xlink:title="Label : IPCAIndexPlus5Point73PercentMember to label_IPCAIndexPlus5Point73PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August2024Member" xlink:label="August2024Member" xlink:title="August2024Member" />
    <link:label xlink:type="resource" xlink:label="label_August2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_August2024Member" xml:lang="en-US" id="label_August2024Member">August 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2024Member" xlink:to="label_August2024Member" xlink:title="Label : August2024Member to label_August2024Member" />
    <link:label xlink:type="resource" xlink:label="label_August2024Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August2024Member_1" xml:lang="en-US" id="label_August2024Member_1">This member stands for a time band of August-2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2024Member" xlink:to="label_August2024Member_1" xlink:title="Label : August2024Member to label_August2024Member_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_June2036Member" xlink:label="June2036Member" xlink:title="June2036Member" />
    <link:label xlink:type="resource" xlink:label="label_June2036Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_June2036Member" xml:lang="en-US" id="label_June2036Member">June 2036 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2036Member" xlink:to="label_June2036Member" xlink:title="Label : June2036Member to label_June2036Member" />
    <link:label xlink:type="resource" xlink:label="label_August2024Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_August2024Member_2" xml:lang="en-US" id="label_August2024Member_2">August-2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2024Member" xlink:to="label_August2024Member_2" xlink:title="Label : August2024Member to label_August2024Member_2" />
    <link:label xlink:type="resource" xlink:label="label_June2036Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_June2036Member_1" xml:lang="en-US" id="label_June2036Member_1">June-2036</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2036Member" xlink:to="label_June2036Member_1" xlink:title="Label : June2036Member to label_June2036Member_1" />
    <link:label xlink:type="resource" xlink:label="label_June2036Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_June2036Member_2" xml:lang="en-US" id="label_June2036Member_2">This member stands for a time band of June-2036.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2036Member" xlink:to="label_June2036Member_2" xlink:title="Label : June2036Member to label_June2036Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus3Point60PercentMember" xlink:label="IPCAIndexPlus3Point60PercentMember" xlink:title="IPCAIndexPlus3Point60PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point60PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus3Point60PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus3Point60PercentMember">This member stands for the information pertaining to index IPCA +&#xA0;3.60%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point60PercentMember" xlink:to="label_IPCAIndexPlus3Point60PercentMember" xlink:title="Label : IPCAIndexPlus3Point60PercentMember to label_IPCAIndexPlus3Point60PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point60PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus3Point60PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus3Point60PercentMember_1">IPCA Index Plus 3 Point 60 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point60PercentMember" xlink:to="label_IPCAIndexPlus3Point60PercentMember_1" xlink:title="Label : IPCAIndexPlus3Point60PercentMember to label_IPCAIndexPlus3Point60PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point60PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus3Point60PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus3Point60PercentMember_2">IPCA + 3.60%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point60PercentMember" xlink:to="label_IPCAIndexPlus3Point60PercentMember_2" xlink:title="Label : IPCAIndexPlus3Point60PercentMember to label_IPCAIndexPlus3Point60PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndex125Point5PercentMember" xlink:label="CDIIndex125Point5PercentMember" xlink:title="CDIIndex125Point5PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndex125Point5PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndex125Point5PercentMember" xml:lang="en-US" id="label_CDIIndex125Point5PercentMember">This member stands for the information pertaining to 125.5% of CDI index.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndex125Point5PercentMember" xlink:to="label_CDIIndex125Point5PercentMember" xlink:title="Label : CDIIndex125Point5PercentMember to label_CDIIndex125Point5PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndex125Point5PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndex125Point5PercentMember_1" xml:lang="en-US" id="label_CDIIndex125Point5PercentMember_1">CDI Index 125 Point 5 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndex125Point5PercentMember" xlink:to="label_CDIIndex125Point5PercentMember_1" xlink:title="Label : CDIIndex125Point5PercentMember to label_CDIIndex125Point5PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndex125Point5PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndex125Point5PercentMember_2" xml:lang="en-US" id="label_CDIIndex125Point5PercentMember_2">125.5% of CDI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndex125Point5PercentMember" xlink:to="label_CDIIndex125Point5PercentMember_2" xlink:title="Label : CDIIndex125Point5PercentMember to label_CDIIndex125Point5PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexPlus1Point36PercentMember" xlink:label="USDollarIndexPlus1Point36PercentMember" xlink:title="USDollarIndexPlus1Point36PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus1Point36PercentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexPlus1Point36PercentMember" xml:lang="en-US" id="label_USDollarIndexPlus1Point36PercentMember">U.S. Dollar + 1.36%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus1Point36PercentMember" xlink:to="label_USDollarIndexPlus1Point36PercentMember" xlink:title="Label : USDollarIndexPlus1Point36PercentMember to label_USDollarIndexPlus1Point36PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus1Point36PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_USDollarIndexPlus1Point36PercentMember_1" xml:lang="en-US" id="label_USDollarIndexPlus1Point36PercentMember_1">US Dollar Index Plus 1 Point 36 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus1Point36PercentMember" xlink:to="label_USDollarIndexPlus1Point36PercentMember_1" xlink:title="Label : USDollarIndexPlus1Point36PercentMember to label_USDollarIndexPlus1Point36PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus1Point36PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexPlus1Point36PercentMember_2" xml:lang="en-US" id="label_USDollarIndexPlus1Point36PercentMember_2">This member stands for the information pertaining to index U.S. Dollar + 1.36%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus1Point36PercentMember" xlink:to="label_USDollarIndexPlus1Point36PercentMember_2" xlink:title="Label : USDollarIndexPlus1Point36PercentMember to label_USDollarIndexPlus1Point36PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_December2035Member" xlink:label="December2035Member" xlink:title="December2035Member" />
    <link:label xlink:type="resource" xlink:label="label_December2035Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_December2035Member" xml:lang="en-US" id="label_December2035Member">December 2035 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2035Member" xlink:to="label_December2035Member" xlink:title="Label : December2035Member to label_December2035Member" />
    <link:label xlink:type="resource" xlink:label="label_December2035Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_December2035Member_1" xml:lang="en-US" id="label_December2035Member_1">This member stands for a time band of December-2035.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2035Member" xlink:to="label_December2035Member_1" xlink:title="Label : December2035Member to label_December2035Member_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2032Member" xlink:label="January2032Member" xlink:title="January2032Member" />
    <link:label xlink:type="resource" xlink:label="label_January2032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2032Member" xml:lang="en-US" id="label_January2032Member">This member stands for a time band of January-2032.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2032Member" xlink:to="label_January2032Member" xlink:title="Label : January2032Member to label_January2032Member" />
    <link:label xlink:type="resource" xlink:label="label_December2035Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_December2035Member_2" xml:lang="en-US" id="label_December2035Member_2">December-2035</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2035Member" xlink:to="label_December2035Member_2" xlink:title="Label : December2035Member to label_December2035Member_2" />
    <link:label xlink:type="resource" xlink:label="label_January2032Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2032Member_1" xml:lang="en-US" id="label_January2032Member_1">January-2032</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2032Member" xlink:to="label_January2032Member_1" xlink:title="Label : January2032Member to label_January2032Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2032Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2032Member_2" xml:lang="en-US" id="label_January2032Member_2">January 2032 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2032Member" xlink:to="label_January2032Member_2" xlink:title="Label : January2032Member to label_January2032Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2032Member" xlink:label="SeniorNotesDue2032Member" xlink:title="SeniorNotesDue2032Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2032Member" xml:lang="en-US" id="label_SeniorNotesDue2032Member">Senior Notes Due 2032</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2032Member" xlink:to="label_SeniorNotesDue2032Member" xlink:title="Label : SeniorNotesDue2032Member to label_SeniorNotesDue2032Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2032Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2032Member_1" xml:lang="en-US" id="label_SeniorNotesDue2032Member_1">This member stands for the information pertaining to Senior notes due 2032.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2032Member" xlink:to="label_SeniorNotesDue2032Member_1" xlink:title="Label : SeniorNotesDue2032Member to label_SeniorNotesDue2032Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2032Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2032Member_2" xml:lang="en-US" id="label_SeniorNotesDue2032Member_2">Senior Notes Due 2032 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2032Member" xlink:to="label_SeniorNotesDue2032Member_2" xlink:title="Label : SeniorNotesDue2032Member to label_SeniorNotesDue2032Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_November1St2021Member" xlink:label="November1St2021Member" xlink:title="November1St2021Member" />
    <link:label xlink:type="resource" xlink:label="label_November1St2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_November1St2021Member" xml:lang="en-US" id="label_November1St2021Member">November 1st, 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November1St2021Member" xlink:to="label_November1St2021Member" xlink:title="Label : November1St2021Member to label_November1St2021Member" />
    <link:label xlink:type="resource" xlink:label="label_November1St2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_November1St2021Member_1" xml:lang="en-US" id="label_November1St2021Member_1">This member stands for the information pertaining to November 1st, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November1St2021Member" xlink:to="label_November1St2021Member_1" xlink:title="Label : November1St2021Member to label_November1St2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_November1St2021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_November1St2021Member_2" xml:lang="en-US" id="label_November1St2021Member_2">November 1 St 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November1St2021Member" xlink:to="label_November1St2021Member_2" xlink:title="Label : November1St2021Member to label_November1St2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August1St2021TwoMember" xlink:label="August1St2021TwoMember" xlink:title="August1St2021TwoMember" />
    <link:label xlink:type="resource" xlink:label="label_August1St2021TwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_August1St2021TwoMember" xml:lang="en-US" id="label_August1St2021TwoMember">August 1st, 2021, Two [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August1St2021TwoMember" xlink:to="label_August1St2021TwoMember" xlink:title="Label : August1St2021TwoMember to label_August1St2021TwoMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeaseAndConcessionInInstallmentsMember" xlink:label="LeaseAndConcessionInInstallmentsMember" xlink:title="LeaseAndConcessionInInstallmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAndConcessionInInstallmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseAndConcessionInInstallmentsMember" xml:lang="en-US" id="label_LeaseAndConcessionInInstallmentsMember">This member stands for information pertaining to lease and concession in installments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAndConcessionInInstallmentsMember" xlink:to="label_LeaseAndConcessionInInstallmentsMember" xlink:title="Label : LeaseAndConcessionInInstallmentsMember to label_LeaseAndConcessionInInstallmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_LeaseAndConcessionInInstallmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseAndConcessionInInstallmentsMember_1" xml:lang="en-US" id="label_LeaseAndConcessionInInstallmentsMember_1">Lease and concession in installments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseAndConcessionInInstallmentsMember" xlink:to="label_LeaseAndConcessionInInstallmentsMember_1" xlink:title="Label : LeaseAndConcessionInInstallmentsMember to label_LeaseAndConcessionInInstallmentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_August1St2021TwoMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August1St2021TwoMember_1" xml:lang="en-US" id="label_August1St2021TwoMember_1">This member stands for the information pertaining to August 1st, 2021, second grant.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August1St2021TwoMember" xlink:to="label_August1St2021TwoMember_1" xlink:title="Label : August1St2021TwoMember to label_August1St2021TwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_August1St2021TwoMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_August1St2021TwoMember_2" xml:lang="en-US" id="label_August1St2021TwoMember_2">August 1 St Two 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August1St2021TwoMember" xlink:to="label_August1St2021TwoMember_2" xlink:title="Label : August1St2021TwoMember to label_August1St2021TwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August1St2021Member" xlink:label="August1St2021Member" xlink:title="August1St2021Member" />
    <link:label xlink:type="resource" xlink:label="label_August1St2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_August1St2021Member" xml:lang="en-US" id="label_August1St2021Member">August 1st, 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August1St2021Member" xlink:to="label_August1St2021Member" xlink:title="Label : August1St2021Member to label_August1St2021Member" />
    <link:label xlink:type="resource" xlink:label="label_August1St2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August1St2021Member_1" xml:lang="en-US" id="label_August1St2021Member_1">This member stands for the information pertaining to August 1st, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August1St2021Member" xlink:to="label_August1St2021Member_1" xlink:title="Label : August1St2021Member to label_August1St2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_August1St2021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_August1St2021Member_2" xml:lang="en-US" id="label_August1St2021Member_2">August 1 St 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August1St2021Member" xlink:to="label_August1St2021Member_2" xlink:title="Label : August1St2021Member to label_August1St2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September15Th2021Member" xlink:label="September15Th2021Member" xlink:title="September15Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_September15Th2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September15Th2021Member" xml:lang="en-US" id="label_September15Th2021Member">September 15, 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September15Th2021Member" xlink:to="label_September15Th2021Member" xlink:title="Label : September15Th2021Member to label_September15Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_September15Th2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September15Th2021Member_1" xml:lang="en-US" id="label_September15Th2021Member_1">This member stands for the information pertaining to September 15th, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September15Th2021Member" xlink:to="label_September15Th2021Member_1" xlink:title="Label : September15Th2021Member to label_September15Th2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September15Th2021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September15Th2021Member_2" xml:lang="en-US" id="label_September15Th2021Member_2">September 15 Th, 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September15Th2021Member" xlink:to="label_September15Th2021Member_2" xlink:title="Label : September15Th2021Member to label_September15Th2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_May05Th2021Member" xlink:label="May05Th2021Member" xlink:title="May05Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_May05Th2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_May05Th2021Member" xml:lang="en-US" id="label_May05Th2021Member">May 05, 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May05Th2021Member" xlink:to="label_May05Th2021Member" xlink:title="Label : May05Th2021Member to label_May05Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_May05Th2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_May05Th2021Member_1" xml:lang="en-US" id="label_May05Th2021Member_1">This member stands for the information pertaining to May 05th, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May05Th2021Member" xlink:to="label_May05Th2021Member_1" xlink:title="Label : May05Th2021Member to label_May05Th2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_May05Th2021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_May05Th2021Member_2" xml:lang="en-US" id="label_May05Th2021Member_2">May 05 Th, 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May05Th2021Member" xlink:to="label_May05Th2021Member_2" xlink:title="Label : May05Th2021Member to label_May05Th2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_November11Th2021Member" xlink:label="November11Th2021Member" xlink:title="November11Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_November11Th2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_November11Th2021Member" xml:lang="en-US" id="label_November11Th2021Member">November 11, 2020 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November11Th2021Member" xlink:to="label_November11Th2021Member" xlink:title="Label : November11Th2021Member to label_November11Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_November11Th2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_November11Th2021Member_1" xml:lang="en-US" id="label_November11Th2021Member_1">This member stands for the information pertaining to November 11th, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November11Th2021Member" xlink:to="label_November11Th2021Member_1" xlink:title="Label : November11Th2021Member to label_November11Th2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_November11Th2021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_November11Th2021Member_2" xml:lang="en-US" id="label_November11Th2021Member_2">November 11 Th, 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November11Th2021Member" xlink:to="label_November11Th2021Member_2" xlink:title="Label : November11Th2021Member to label_November11Th2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_October11Th2021Member" xlink:label="October11Th2021Member" xlink:title="October11Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_October11Th2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October11Th2021Member" xml:lang="en-US" id="label_October11Th2021Member">October 11 Th, 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October11Th2021Member" xlink:to="label_October11Th2021Member" xlink:title="Label : October11Th2021Member to label_October11Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_October11Th2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October11Th2021Member_1" xml:lang="en-US" id="label_October11Th2021Member_1">This member stands for the information pertaining to October 11th, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October11Th2021Member" xlink:to="label_October11Th2021Member_1" xlink:title="Label : October11Th2021Member to label_October11Th2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October11Th2021Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October11Th2021Member_2" xml:lang="en-US" id="label_October11Th2021Member_2">October 11, 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October11Th2021Member" xlink:to="label_October11Th2021Member_2" xlink:title="Label : October11Th2021Member to label_October11Th2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September10Th2021Member" xlink:label="September10Th2021Member" xlink:title="September10Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_September10Th2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September10Th2021Member" xml:lang="en-US" id="label_September10Th2021Member">September 10, 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September10Th2021Member" xlink:to="label_September10Th2021Member" xlink:title="Label : September10Th2021Member to label_September10Th2021Member" />
    <link:label xlink:type="resource" xlink:label="label_September10Th2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September10Th2021Member_1" xml:lang="en-US" id="label_September10Th2021Member_1">This member stands for the information pertaining to September 10th, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September10Th2021Member" xlink:to="label_September10Th2021Member_1" xlink:title="Label : September10Th2021Member to label_September10Th2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September10Th2021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September10Th2021Member_2" xml:lang="en-US" id="label_September10Th2021Member_2">September 10 Th, 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September10Th2021Member" xlink:to="label_September10Th2021Member_2" xlink:title="Label : September10Th2021Member to label_September10Th2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_July31St2021Member" xlink:label="July31St2021Member" xlink:title="July31St2021Member" />
    <link:label xlink:type="resource" xlink:label="label_July31St2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_July31St2021Member" xml:lang="en-US" id="label_July31St2021Member">July 31 St 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July31St2021Member" xlink:to="label_July31St2021Member" xlink:title="Label : July31St2021Member to label_July31St2021Member" />
    <link:label xlink:type="resource" xlink:label="label_July31St2021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_July31St2021Member_1" xml:lang="en-US" id="label_July31St2021Member_1">This member stands for the information pertaining to July 31st, 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July31St2021Member" xlink:to="label_July31St2021Member_1" xlink:title="Label : July31St2021Member to label_July31St2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_July31St2021Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_July31St2021Member_2" xml:lang="en-US" id="label_July31St2021Member_2">July 31, 2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July31St2021Member" xlink:to="label_July31St2021Member_2" xlink:title="Label : July31St2021Member to label_July31St2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_June2031Member" xlink:label="June2031Member" xlink:title="June2031Member" />
    <link:label xlink:type="resource" xlink:label="label_June2031Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_June2031Member" xml:lang="en-US" id="label_June2031Member">This member stands for a time band of June-2031.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2031Member" xlink:to="label_June2031Member" xlink:title="Label : June2031Member to label_June2031Member" />
    <link:label xlink:type="resource" xlink:label="label_June2031Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_June2031Member_1" xml:lang="en-US" id="label_June2031Member_1">June 2031 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2031Member" xlink:to="label_June2031Member_1" xlink:title="Label : June2031Member to label_June2031Member_1" />
    <link:label xlink:type="resource" xlink:label="label_June2031Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_June2031Member_2" xml:lang="en-US" id="label_June2031Member_2">June-2031</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2031Member" xlink:to="label_June2031Member_2" xlink:title="Label : June2031Member to label_June2031Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_October2027Member" xlink:label="October2027Member" xlink:title="October2027Member" />
    <link:label xlink:type="resource" xlink:label="label_October2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2027Member" xml:lang="en-US" id="label_October2027Member">October-2027</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2027Member" xlink:to="label_October2027Member" xlink:title="Label : October2027Member to label_October2027Member" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus2Point00PercentMember" xlink:label="CDIIndexPlus2Point00PercentMember" xlink:title="CDIIndexPlus2Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point00PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus2Point00PercentMember" xml:lang="en-US" id="label_CDIIndexPlus2Point00PercentMember">CDI Index Plus 2 Point 00 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point00PercentMember" xlink:to="label_CDIIndexPlus2Point00PercentMember" xlink:title="Label : CDIIndexPlus2Point00PercentMember to label_CDIIndexPlus2Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point00PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus2Point00PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus2Point00PercentMember_1">This member stands for the information pertaining to index CDI + 2.00%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point00PercentMember" xlink:to="label_CDIIndexPlus2Point00PercentMember_1" xlink:title="Label : CDIIndexPlus2Point00PercentMember to label_CDIIndexPlus2Point00PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point65PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus1Point65PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus1Point65PercentMember_2">This member stands for the information pertaining to index CDI + 1.65%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point65PercentMember" xlink:to="label_CDIIndexPlus1Point65PercentMember_2" xlink:title="Label : CDIIndexPlus1Point65PercentMember to label_CDIIndexPlus1Point65PercentMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point00PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus2Point00PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus2Point00PercentMember_2">CDI + 2.00%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point00PercentMember" xlink:to="label_CDIIndexPlus2Point00PercentMember_2" xlink:title="Label : CDIIndexPlus2Point00PercentMember to label_CDIIndexPlus2Point00PercentMember_2" />
    <link:label xlink:type="resource" xlink:label="label_October2027Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October2027Member_1" xml:lang="en-US" id="label_October2027Member_1">This member stands for a time band of October-2027.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2027Member" xlink:to="label_October2027Member_1" xlink:title="Label : October2027Member to label_October2027Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October2027Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2027Member_2" xml:lang="en-US" id="label_October2027Member_2">October 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2027Member" xlink:to="label_October2027Member_2" xlink:title="Label : October2027Member to label_October2027Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_June2027Member" xlink:label="June2027Member" xlink:title="June2027Member" />
    <link:label xlink:type="resource" xlink:label="label_June2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_June2027Member" xml:lang="en-US" id="label_June2027Member">June-2027</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2027Member" xlink:to="label_June2027Member" xlink:title="Label : June2027Member to label_June2027Member" />
    <link:label xlink:type="resource" xlink:label="label_June2027Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_June2027Member_1" xml:lang="en-US" id="label_June2027Member_1">This member stands for a time band of June-2027.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2027Member" xlink:to="label_June2027Member_1" xlink:title="Label : June2027Member to label_June2027Member_1" />
    <link:label xlink:type="resource" xlink:label="label_June2027Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_June2027Member_2" xml:lang="en-US" id="label_June2027Member_2">June 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2027Member" xlink:to="label_June2027Member_2" xlink:title="Label : June2027Member to label_June2027Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_May2026Member" xlink:label="May2026Member" xlink:title="May2026Member" />
    <link:label xlink:type="resource" xlink:label="label_May2026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_May2026Member" xml:lang="en-US" id="label_May2026Member">May 2026 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2026Member" xlink:to="label_May2026Member" xlink:title="Label : May2026Member to label_May2026Member" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August2036Member" xlink:label="August2036Member" xlink:title="August2036Member" />
    <link:label xlink:type="resource" xlink:label="label_August2036Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_August2036Member" xml:lang="en-US" id="label_August2036Member">August 2036 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2036Member" xlink:to="label_August2036Member" xlink:title="Label : August2036Member to label_August2036Member" />
    <link:label xlink:type="resource" xlink:label="label_August2036Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August2036Member_1" xml:lang="en-US" id="label_August2036Member_1">This member stands for a time band of August-2036.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2036Member" xlink:to="label_August2036Member_1" xlink:title="Label : August2036Member to label_August2036Member_1" />
    <link:label xlink:type="resource" xlink:label="label_August2031Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August2031Member_2" xml:lang="en-US" id="label_August2031Member_2">This member stands for a time band of August-2031.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2031Member" xlink:to="label_August2031Member_2" xlink:title="Label : August2031Member to label_August2031Member_2" />
    <link:label xlink:type="resource" xlink:label="label_August2036Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_August2036Member_2" xml:lang="en-US" id="label_August2036Member_2">August-2036</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2036Member" xlink:to="label_August2036Member_2" xlink:title="Label : August2036Member to label_August2036Member_2" />
    <link:label xlink:type="resource" xlink:label="label_May2026Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_May2026Member_1" xml:lang="en-US" id="label_May2026Member_1">This member stands for a time band of May-2026.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2026Member" xlink:to="label_May2026Member_1" xlink:title="Label : May2026Member to label_May2026Member_1" />
    <link:label xlink:type="resource" xlink:label="label_May2026Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_May2026Member_2" xml:lang="en-US" id="label_May2026Member_2">May-2026</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2026Member" xlink:to="label_May2026Member_2" xlink:title="Label : May2026Member to label_May2026Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point77PercentMember" xlink:label="IPCAIndexPlus4Point77PercentMember" xlink:title="IPCAIndexPlus4Point77PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point77PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point77PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point77PercentMember">This member stands for the information pertaining to index IPCA +&#xA0;4.77%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point77PercentMember" xlink:to="label_IPCAIndexPlus4Point77PercentMember" xlink:title="Label : IPCAIndexPlus4Point77PercentMember to label_IPCAIndexPlus4Point77PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point77PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point77PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point77PercentMember_1">IPCA Index Plus 4 Point 77 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point77PercentMember" xlink:to="label_IPCAIndexPlus4Point77PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point77PercentMember to label_IPCAIndexPlus4Point77PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point77PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point77PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point77PercentMember_2">IPCA +&#xA0;4.77%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point77PercentMember" xlink:to="label_IPCAIndexPlus4Point77PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point77PercentMember to label_IPCAIndexPlus4Point77PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus1Point30PercentMember" xlink:label="CDIIndexPlus1Point30PercentMember" xlink:title="CDIIndexPlus1Point30PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point30PercentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus1Point30PercentMember" xml:lang="en-US" id="label_CDIIndexPlus1Point30PercentMember">This member stands for the information pertaining to index CDI + 1.30%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point30PercentMember" xlink:to="label_CDIIndexPlus1Point30PercentMember" xlink:title="Label : CDIIndexPlus1Point30PercentMember to label_CDIIndexPlus1Point30PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point30PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus1Point30PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus1Point30PercentMember_1">CDI Index Plus 1 Point 30 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point30PercentMember" xlink:to="label_CDIIndexPlus1Point30PercentMember_1" xlink:title="Label : CDIIndexPlus1Point30PercentMember to label_CDIIndexPlus1Point30PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point30PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus1Point30PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus1Point30PercentMember_2">CDI +&#xA0;1.30%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point30PercentMember" xlink:to="label_CDIIndexPlus1Point30PercentMember_2" xlink:title="Label : CDIIndexPlus1Point30PercentMember to label_CDIIndexPlus1Point30PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:label="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:title="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xml:lang="en-US" id="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod">Other comprehensive (losses) income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:title="Label : ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod to label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_1" xml:lang="en-US" id="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_1">Other comprehensive (losses) income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_1" xlink:title="Label : ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod to label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CancellationOfTreasuryShares" xlink:label="CancellationOfTreasuryShares" xlink:title="CancellationOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_CancellationOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CancellationOfTreasuryShares" xml:lang="en-US" id="label_CancellationOfTreasuryShares">Cancellation of treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CancellationOfTreasuryShares" xlink:to="label_CancellationOfTreasuryShares" xlink:title="Label : CancellationOfTreasuryShares to label_CancellationOfTreasuryShares" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WeightedRemunerationBasisPointsPerAnnum" xlink:label="WeightedRemunerationBasisPointsPerAnnum" xlink:title="WeightedRemunerationBasisPointsPerAnnum" />
    <link:label xlink:type="resource" xlink:label="label_WeightedRemunerationBasisPointsPerAnnum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedRemunerationBasisPointsPerAnnum" xml:lang="en-US" id="label_WeightedRemunerationBasisPointsPerAnnum">Weighted Remuneration Basis Points Per Annum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedRemunerationBasisPointsPerAnnum" xlink:to="label_WeightedRemunerationBasisPointsPerAnnum" xlink:title="Label : WeightedRemunerationBasisPointsPerAnnum to label_WeightedRemunerationBasisPointsPerAnnum" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCurrentReportingStatus" xlink:label="EntityCurrentReportingStatus" xlink:title="EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityCurrentReportingStatus" xml:lang="en-US" id="label_EntityCurrentReportingStatus">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCurrentReportingStatus" xlink:to="label_EntityCurrentReportingStatus" xlink:title="Label : EntityCurrentReportingStatus to label_EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_EntityCurrentReportingStatus_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntityCurrentReportingStatus_1" xml:lang="en-US" id="label_EntityCurrentReportingStatus_1">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCurrentReportingStatus" xlink:to="label_EntityCurrentReportingStatus_1" xlink:title="Label : EntityCurrentReportingStatus to label_EntityCurrentReportingStatus_1" />
    <link:label xlink:type="resource" xlink:label="label_EntityWellKnownSeasonedIssuer_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntityWellKnownSeasonedIssuer_1" xml:lang="en-US" id="label_EntityWellKnownSeasonedIssuer_1">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityWellKnownSeasonedIssuer" xlink:to="label_EntityWellKnownSeasonedIssuer_1" xlink:title="Label : EntityWellKnownSeasonedIssuer to label_EntityWellKnownSeasonedIssuer_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityVoluntaryFilers" xlink:label="EntityVoluntaryFilers" xlink:title="EntityVoluntaryFilers" />
    <link:label xlink:type="resource" xlink:label="label_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityVoluntaryFilers" xml:lang="en-US" id="label_EntityVoluntaryFilers">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityVoluntaryFilers" xlink:to="label_EntityVoluntaryFilers" xlink:title="Label : EntityVoluntaryFilers to label_EntityVoluntaryFilers" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RioMinasMineracaoSAMember" xlink:label="RioMinasMineracaoSAMember" xlink:title="RioMinasMineracaoSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RioMinasMineracaoSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RioMinasMineracaoSAMember" xml:lang="en-US" id="label_RioMinasMineracaoSAMember">Rio Minas Mineracao S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RioMinasMineracaoSAMember" xlink:to="label_RioMinasMineracaoSAMember" xlink:title="Label : RioMinasMineracaoSAMember to label_RioMinasMineracaoSAMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PhantomStocksMember" xlink:label="PhantomStocksMember" xlink:title="PhantomStocksMember" />
    <link:label xlink:type="resource" xlink:label="label_PhantomStocksMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PhantomStocksMember" xml:lang="en-US" id="label_PhantomStocksMember">Phantom shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PhantomStocksMember" xlink:to="label_PhantomStocksMember" xlink:title="Label : PhantomStocksMember to label_PhantomStocksMember" />
    <link:label xlink:type="resource" xlink:label="label_PhantomStocksMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PhantomStocksMember_1" xml:lang="en-US" id="label_PhantomStocksMember_1">Phantom Stocks [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PhantomStocksMember" xlink:to="label_PhantomStocksMember_1" xlink:title="Label : PhantomStocksMember to label_PhantomStocksMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AwardTypesDomain" xlink:label="AwardTypesDomain" xlink:title="AwardTypesDomain" />
    <link:label xlink:type="resource" xlink:label="label_AwardTypesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AwardTypesDomain" xml:lang="en-US" id="label_AwardTypesDomain">Award Types [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardTypesDomain" xlink:to="label_AwardTypesDomain" xlink:title="Label : AwardTypesDomain to label_AwardTypesDomain" />
    <link:label xlink:type="resource" xlink:label="label_RhallTerminaisLtdaMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RhallTerminaisLtdaMember_1" xml:lang="en-US" id="label_RhallTerminaisLtdaMember_1">Represents Rhall Terminais Ltda.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RhallTerminaisLtdaMember" xlink:to="label_RhallTerminaisLtdaMember_1" xlink:title="Label : RhallTerminaisLtdaMember to label_RhallTerminaisLtdaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_WeightedRemunerationBasisPointsPerAnnum_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WeightedRemunerationBasisPointsPerAnnum_1" xml:lang="en-US" id="label_WeightedRemunerationBasisPointsPerAnnum_1">Represents weighted average remuneration basis points.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedRemunerationBasisPointsPerAnnum" xlink:to="label_WeightedRemunerationBasisPointsPerAnnum_1" xlink:title="Label : WeightedRemunerationBasisPointsPerAnnum to label_WeightedRemunerationBasisPointsPerAnnum_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsContingentLiabilityLaborMember" xlink:label="LegalProceedingsContingentLiabilityLaborMember" xlink:title="LegalProceedingsContingentLiabilityLaborMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityLaborMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsContingentLiabilityLaborMember" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityLaborMember">Legal Proceedings Contingent Liability Labor [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityLaborMember" xlink:to="label_LegalProceedingsContingentLiabilityLaborMember" xlink:title="Label : LegalProceedingsContingentLiabilityLaborMember to label_LegalProceedingsContingentLiabilityLaborMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityLaborMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsContingentLiabilityLaborMember_1" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityLaborMember_1">Member stands for the legal proceedings contingent liability labor.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityLaborMember" xlink:to="label_LegalProceedingsContingentLiabilityLaborMember_1" xlink:title="Label : LegalProceedingsContingentLiabilityLaborMember to label_LegalProceedingsContingentLiabilityLaborMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityLaborMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsContingentLiabilityLaborMember_2" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityLaborMember_2">Legal Proceedings Contingent Liability, Labor [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityLaborMember" xlink:to="label_LegalProceedingsContingentLiabilityLaborMember_2" xlink:title="Label : LegalProceedingsContingentLiabilityLaborMember to label_LegalProceedingsContingentLiabilityLaborMember_2" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCommonStockSharesOutstanding" xlink:to="label_EntityCommonStockSharesOutstanding" xlink:title="Label : EntityCommonStockSharesOutstanding to label_EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_EntityCommonStockSharesOutstanding_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntityCommonStockSharesOutstanding_1" xml:lang="en-US" id="label_EntityCommonStockSharesOutstanding_1">Entity Common Stock, Shares Outstanding</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
    <link:label xlink:type="resource" xlink:label="label_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecurityExchangeName" xml:lang="en-US" id="label_SecurityExchangeName">Security Exchange Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecurityExchangeName" xlink:to="label_SecurityExchangeName" xlink:title="Label : SecurityExchangeName to label_SecurityExchangeName" />
    <link:label xlink:type="resource" xlink:label="label_SecurityExchangeName_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecurityExchangeName_1" xml:lang="en-US" id="label_SecurityExchangeName_1">Security Exchange Name</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCountry" xlink:label="EntityAddressCountry" xlink:title="EntityAddressCountry" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressCountry" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressCountry" xml:lang="en-US" id="label_EntityAddressCountry">Entity Address, Country</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialPositionAbstract" xml:lang="en-US" id="label_StatementOfFinancialPositionAbstract">Statement of financial position [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="label_StatementOfFinancialPositionAbstract" xlink:title="Label : StatementOfFinancialPositionAbstract to label_StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialPositionAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementOfFinancialPositionAbstract_1" xml:lang="en-US" id="label_StatementOfFinancialPositionAbstract_1">Statement of financial position:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="label_StatementOfFinancialPositionAbstract_1" xlink:title="Label : StatementOfFinancialPositionAbstract to label_StatementOfFinancialPositionAbstract_1" />
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    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAbstract" xml:lang="en-US" id="label_AssetsAbstract">Assets [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract" xlink:title="Label : AssetsAbstract to label_AssetsAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="CashAndCashEquivalents" xlink:title="CashAndCashEquivalents" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalents_1" xml:lang="en-US" id="label_CashAndCashEquivalents_1">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_1" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_2" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents" xlink:to="label_CashAndCashEquivalents_3" xlink:title="Label : CashAndCashEquivalents to label_CashAndCashEquivalents_3" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTradeReceivables" xlink:to="label_CurrentTradeReceivables_1" xlink:title="Label : CurrentTradeReceivables to label_CurrentTradeReceivables_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTradeReceivables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentTradeReceivables_2" xml:lang="en-US" id="label_CurrentTradeReceivables_2">Current</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialAssets" xlink:to="label_CurrentDerivativeFinancialAssets" xlink:title="Label : CurrentDerivativeFinancialAssets to label_CurrentDerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentDerivativeFinancialAssets_1" xml:lang="en-US" id="label_CurrentDerivativeFinancialAssets_1">Current derivative financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialAssets" xlink:to="label_CurrentDerivativeFinancialAssets_1" xlink:title="Label : CurrentDerivativeFinancialAssets to label_CurrentDerivativeFinancialAssets_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Inventories" xlink:to="label_Inventories" xlink:title="Label : Inventories to label_Inventories" />
    <link:label xlink:type="resource" xlink:label="label_Inventories_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Inventories_1" xml:lang="en-US" id="label_Inventories_1">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Inventories" xlink:to="label_Inventories_1" xlink:title="Label : Inventories to label_Inventories_1" />
    <link:label xlink:type="resource" xlink:label="label_Inventories_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Inventories_2" xml:lang="en-US" id="label_Inventories_2">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Inventories" xlink:to="label_Inventories_2" xlink:title="Label : Inventories to label_Inventories_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:title="TradeAndOtherCurrentReceivablesDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties">Current receivables due from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:to="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:title="Label : TradeAndOtherCurrentReceivablesDueFromRelatedParties to label_TradeAndOtherCurrentReceivablesDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_1" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_1">Receivables from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:to="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_1" xlink:title="Label : TradeAndOtherCurrentReceivablesDueFromRelatedParties to label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_1" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_2" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_2">Receivables from related parties, current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:to="label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_2" xlink:title="Label : TradeAndOtherCurrentReceivablesDueFromRelatedParties to label_TradeAndOtherCurrentReceivablesDueFromRelatedParties_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="CurrentTaxAssetsCurrent" xlink:title="CurrentTaxAssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentTaxAssetsCurrent" xml:lang="en-US" id="label_CurrentTaxAssetsCurrent">Current tax assets, current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxAssetsCurrent" xlink:to="label_CurrentTaxAssetsCurrent" xlink:title="Label : CurrentTaxAssetsCurrent to label_CurrentTaxAssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxAssetsCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentTaxAssetsCurrent_1" xml:lang="en-US" id="label_CurrentTaxAssetsCurrent_1">Income tax receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxAssetsCurrent" xlink:to="label_CurrentTaxAssetsCurrent_1" xlink:title="Label : CurrentTaxAssetsCurrent to label_CurrentTaxAssetsCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="CurrentReceivablesFromTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentReceivablesFromTaxesOtherThanIncomeTax" xml:lang="en-US" id="label_CurrentReceivablesFromTaxesOtherThanIncomeTax">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="Label : CurrentReceivablesFromTaxesOtherThanIncomeTax to label_CurrentReceivablesFromTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_1" xml:lang="en-US" id="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_1">Other current tax receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_1" xlink:title="Label : CurrentReceivablesFromTaxesOtherThanIncomeTax to label_CurrentReceivablesFromTaxesOtherThanIncomeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_2" xml:lang="en-US" id="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_2">Current receivables from taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_CurrentReceivablesFromTaxesOtherThanIncomeTax_2" xlink:title="Label : CurrentReceivablesFromTaxesOtherThanIncomeTax to label_CurrentReceivablesFromTaxesOtherThanIncomeTax_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsReceivable1" xlink:label="DividendsReceivable1" xlink:title="DividendsReceivable1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivable1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsReceivable1" xml:lang="en-US" id="label_DividendsReceivable1">Dividends receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivable1" xlink:to="label_DividendsReceivable1" xlink:title="Label : DividendsReceivable1 to label_DividendsReceivable1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivable1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsReceivable1_1" xml:lang="en-US" id="label_DividendsReceivable1_1">Dividend receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivable1" xlink:to="label_DividendsReceivable1_1" xlink:title="Label : DividendsReceivable1 to label_DividendsReceivable1_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivable1_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsReceivable1_2" xml:lang="en-US" id="label_DividendsReceivable1_2">Dividends Receivable1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivable1" xlink:to="label_DividendsReceivable1_2" xlink:title="Label : DividendsReceivable1 to label_DividendsReceivable1_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentSectorFinancialAssets" xlink:label="CurrentSectorFinancialAssets" xlink:title="CurrentSectorFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentSectorFinancialAssets" xml:lang="en-US" id="label_CurrentSectorFinancialAssets">Current Sector Financial Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialAssets" xlink:to="label_CurrentSectorFinancialAssets" xlink:title="Label : CurrentSectorFinancialAssets to label_CurrentSectorFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentSectorFinancialAssets_1" xml:lang="en-US" id="label_CurrentSectorFinancialAssets_1">The amount of current portion of sector financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialAssets" xlink:to="label_CurrentSectorFinancialAssets_1" xlink:title="Label : CurrentSectorFinancialAssets to label_CurrentSectorFinancialAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentSectorFinancialAssets_2" xml:lang="en-US" id="label_CurrentSectorFinancialAssets_2">Sector financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialAssets" xlink:to="label_CurrentSectorFinancialAssets_2" xlink:title="Label : CurrentSectorFinancialAssets to label_CurrentSectorFinancialAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentFinancialAssets" xlink:label="OtherCurrentFinancialAssets" xlink:title="OtherCurrentFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentFinancialAssets" xml:lang="en-US" id="label_OtherCurrentFinancialAssets">Other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentFinancialAssets" xlink:to="label_OtherCurrentFinancialAssets" xlink:title="Label : OtherCurrentFinancialAssets to label_OtherCurrentFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentFinancialAssets_1" xml:lang="en-US" id="label_OtherCurrentFinancialAssets_1">Other current financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentFinancialAssets" xlink:to="label_OtherCurrentFinancialAssets_1" xlink:title="Label : OtherCurrentFinancialAssets to label_OtherCurrentFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentAssets" xlink:label="OtherCurrentAssets" xlink:title="OtherCurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentAssets" xml:lang="en-US" id="label_OtherCurrentAssets">Other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssets" xlink:to="label_OtherCurrentAssets" xlink:title="Label : OtherCurrentAssets to label_OtherCurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentAssets_1" xml:lang="en-US" id="label_OtherCurrentAssets_1">Other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssets" xlink:to="label_OtherCurrentAssets_1" xlink:title="Label : OtherCurrentAssets to label_OtherCurrentAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentAssets" xlink:label="CurrentAssets" xlink:title="CurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAssets" xml:lang="en-US" id="label_CurrentAssets">Current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssets" xlink:to="label_CurrentAssets" xlink:title="Label : CurrentAssets to label_CurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CurrentAssets_1" xml:lang="en-US" id="label_CurrentAssets_1">Total current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssets" xlink:to="label_CurrentAssets_1" xlink:title="Label : CurrentAssets to label_CurrentAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentAssets_2" xml:lang="en-US" id="label_CurrentAssets_2">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssets" xlink:to="label_CurrentAssets_2" xlink:title="Label : CurrentAssets to label_CurrentAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentTradeReceivables" xlink:label="NoncurrentTradeReceivables" xlink:title="NoncurrentTradeReceivables" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentTradeReceivables" xml:lang="en-US" id="label_NoncurrentTradeReceivables">Non-current trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentTradeReceivables" xlink:to="label_NoncurrentTradeReceivables" xlink:title="Label : NoncurrentTradeReceivables to label_NoncurrentTradeReceivables" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentTradeReceivables_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentTradeReceivables_1" xml:lang="en-US" id="label_NoncurrentTradeReceivables_1">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentTradeReceivables" xlink:to="label_NoncurrentTradeReceivables_1" xlink:title="Label : NoncurrentTradeReceivables to label_NoncurrentTradeReceivables_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentTradeReceivables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentTradeReceivables_2" xml:lang="en-US" id="label_NoncurrentTradeReceivables_2">Non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentTradeReceivables" xlink:to="label_NoncurrentTradeReceivables_2" xlink:title="Label : NoncurrentTradeReceivables to label_NoncurrentTradeReceivables_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentRestrictedCashAndCashEquivalents" xlink:label="NoncurrentRestrictedCashAndCashEquivalents" xlink:title="NoncurrentRestrictedCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentRestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentRestrictedCashAndCashEquivalents" xml:lang="en-US" id="label_NoncurrentRestrictedCashAndCashEquivalents">Non-current restricted cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentRestrictedCashAndCashEquivalents" xlink:to="label_NoncurrentRestrictedCashAndCashEquivalents" xlink:title="Label : NoncurrentRestrictedCashAndCashEquivalents to label_NoncurrentRestrictedCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentRestrictedCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentRestrictedCashAndCashEquivalents_1" xml:lang="en-US" id="label_NoncurrentRestrictedCashAndCashEquivalents_1">Restricted cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentRestrictedCashAndCashEquivalents" xlink:to="label_NoncurrentRestrictedCashAndCashEquivalents_1" xlink:title="Label : NoncurrentRestrictedCashAndCashEquivalents to label_NoncurrentRestrictedCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxAssets" xlink:label="DeferredTaxAssets" xlink:title="DeferredTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssets" xml:lang="en-US" id="label_DeferredTaxAssets">Deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_1" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_DeferredTaxAssets_1" xml:lang="en-US" id="label_DeferredTaxAssets_1">Deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_1" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_2" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:title="label_DeferredTaxAssets_2" xml:lang="en-US" id="label_DeferredTaxAssets_2">Deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_2" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxAssets_3" xml:lang="en-US" id="label_DeferredTaxAssets_3">Deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_3" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_3" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_4" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_DeferredTaxAssets_4" xml:lang="en-US" id="label_DeferredTaxAssets_4">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_4" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_4" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_5" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_DeferredTaxAssets_5" xml:lang="en-US" id="label_DeferredTaxAssets_5">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_5" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_5" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentReceivablesDueFromRelatedParties" xlink:label="NoncurrentReceivablesDueFromRelatedParties" xlink:title="NoncurrentReceivablesDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentReceivablesDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentReceivablesDueFromRelatedParties" xml:lang="en-US" id="label_NoncurrentReceivablesDueFromRelatedParties">Non-current receivables due from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentReceivablesDueFromRelatedParties" xlink:to="label_NoncurrentReceivablesDueFromRelatedParties" xlink:title="Label : NoncurrentReceivablesDueFromRelatedParties to label_NoncurrentReceivablesDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentReceivablesDueFromRelatedParties_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentReceivablesDueFromRelatedParties_1" xml:lang="en-US" id="label_NoncurrentReceivablesDueFromRelatedParties_1">Receivables from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentReceivablesDueFromRelatedParties" xlink:to="label_NoncurrentReceivablesDueFromRelatedParties_1" xlink:title="Label : NoncurrentReceivablesDueFromRelatedParties to label_NoncurrentReceivablesDueFromRelatedParties_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentReceivablesDueFromRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentReceivablesDueFromRelatedParties_2" xml:lang="en-US" id="label_NoncurrentReceivablesDueFromRelatedParties_2">Receivables from related parties, non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentReceivablesDueFromRelatedParties" xlink:to="label_NoncurrentReceivablesDueFromRelatedParties_2" xlink:title="Label : NoncurrentReceivablesDueFromRelatedParties to label_NoncurrentReceivablesDueFromRelatedParties_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTaxAssetsNoncurrent" xlink:label="CurrentTaxAssetsNoncurrent" xlink:title="CurrentTaxAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxAssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentTaxAssetsNoncurrent" xml:lang="en-US" id="label_CurrentTaxAssetsNoncurrent">Income tax receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxAssetsNoncurrent" xlink:to="label_CurrentTaxAssetsNoncurrent" xlink:title="Label : CurrentTaxAssetsNoncurrent to label_CurrentTaxAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxAssetsNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentTaxAssetsNoncurrent_1" xml:lang="en-US" id="label_CurrentTaxAssetsNoncurrent_1">Current tax assets, non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxAssetsNoncurrent" xlink:to="label_CurrentTaxAssetsNoncurrent_1" xlink:title="Label : CurrentTaxAssetsNoncurrent to label_CurrentTaxAssetsNoncurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="NoncurrentReceivablesFromTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xml:lang="en-US" id="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax">Non-Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:title="Label : NoncurrentReceivablesFromTaxesOtherThanIncomeTax to label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_1" xml:lang="en-US" id="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_1">Other non-current tax receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_1" xlink:title="Label : NoncurrentReceivablesFromTaxesOtherThanIncomeTax to label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_2" xml:lang="en-US" id="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_2">Non-current receivables from taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_2" xlink:title="Label : NoncurrentReceivablesFromTaxesOtherThanIncomeTax to label_NoncurrentReceivablesFromTaxesOtherThanIncomeTax_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LongtermDeposits" xlink:label="LongtermDeposits" xlink:title="LongtermDeposits" />
    <link:label xlink:type="resource" xlink:label="label_LongtermDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongtermDeposits" xml:lang="en-US" id="label_LongtermDeposits">Long-term deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDeposits" xlink:to="label_LongtermDeposits" xlink:title="Label : LongtermDeposits to label_LongtermDeposits" />
    <link:label xlink:type="resource" xlink:label="label_LongtermDeposits_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongtermDeposits_1" xml:lang="en-US" id="label_LongtermDeposits_1">Judicial deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDeposits" xlink:to="label_LongtermDeposits_1" xlink:title="Label : LongtermDeposits to label_LongtermDeposits_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherNoncurrentFinancialAssets" xlink:label="OtherNoncurrentFinancialAssets" xlink:title="OtherNoncurrentFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNoncurrentFinancialAssets" xml:lang="en-US" id="label_OtherNoncurrentFinancialAssets">Other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentFinancialAssets" xlink:to="label_OtherNoncurrentFinancialAssets" xlink:title="Label : OtherNoncurrentFinancialAssets to label_OtherNoncurrentFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentFinancialAssets_1" xml:lang="en-US" id="label_OtherNoncurrentFinancialAssets_1">Other non-current financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentFinancialAssets" xlink:to="label_OtherNoncurrentFinancialAssets_1" xlink:title="Label : OtherNoncurrentFinancialAssets to label_OtherNoncurrentFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="NoncurrentDerivativeFinancialAssets" xlink:title="NoncurrentDerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentDerivativeFinancialAssets" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialAssets">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialAssets" xlink:to="label_NoncurrentDerivativeFinancialAssets" xlink:title="Label : NoncurrentDerivativeFinancialAssets to label_NoncurrentDerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentDerivativeFinancialAssets_1" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialAssets_1">Non-current derivative financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialAssets" xlink:to="label_NoncurrentDerivativeFinancialAssets_1" xlink:title="Label : NoncurrentDerivativeFinancialAssets to label_NoncurrentDerivativeFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="OtherNoncurrentAssets" xlink:title="OtherNoncurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentAssets" xml:lang="en-US" id="label_OtherNoncurrentAssets">Other non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentAssets" xlink:to="label_OtherNoncurrentAssets" xlink:title="Label : OtherNoncurrentAssets to label_OtherNoncurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNoncurrentAssets_1" xml:lang="en-US" id="label_OtherNoncurrentAssets_1">Other non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentAssets" xlink:to="label_OtherNoncurrentAssets_1" xlink:title="Label : OtherNoncurrentAssets to label_OtherNoncurrentAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:label="InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:title="InvestmentsInAssociatesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsInAssociatesAccountedForUsingEquityMethod" xml:lang="en-US" id="label_InvestmentsInAssociatesAccountedForUsingEquityMethod">Investments in associates accounted for using equity method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:title="Label : InvestmentsInAssociatesAccountedForUsingEquityMethod to label_InvestmentsInAssociatesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_1" xml:lang="en-US" id="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_1">Investments in associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_1" xlink:title="Label : InvestmentsInAssociatesAccountedForUsingEquityMethod to label_InvestmentsInAssociatesAccountedForUsingEquityMethod_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_2" xml:lang="en-US" id="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_2" xlink:title="Label : InvestmentsInAssociatesAccountedForUsingEquityMethod to label_InvestmentsInAssociatesAccountedForUsingEquityMethod_2" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_3" xml:lang="en-US" id="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInAssociatesAccountedForUsingEquityMethod_3" xlink:title="Label : InvestmentsInAssociatesAccountedForUsingEquityMethod to label_InvestmentsInAssociatesAccountedForUsingEquityMethod_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:label="InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:title="InvestmentsInJointVenturesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xml:lang="en-US" id="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod">Investments in joint ventures accounted for using equity method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:title="Label : InvestmentsInJointVenturesAccountedForUsingEquityMethod to label_InvestmentsInJointVenturesAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_1" xml:lang="en-US" id="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_1">Investments in joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_1" xlink:title="Label : InvestmentsInJointVenturesAccountedForUsingEquityMethod to label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_2" xml:lang="en-US" id="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_2" xlink:title="Label : InvestmentsInJointVenturesAccountedForUsingEquityMethod to label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_2" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_3" xml:lang="en-US" id="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInJointVenturesAccountedForUsingEquityMethod" xlink:to="label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_3" xlink:title="Label : InvestmentsInJointVenturesAccountedForUsingEquityMethod to label_InvestmentsInJointVenturesAccountedForUsingEquityMethod_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RightofuseAssets" xlink:label="RightofuseAssets" xlink:title="RightofuseAssets" />
    <link:label xlink:type="resource" xlink:label="label_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RightofuseAssets" xml:lang="en-US" id="label_RightofuseAssets">Right-of-use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightofuseAssets" xlink:to="label_RightofuseAssets" xlink:title="Label : RightofuseAssets to label_RightofuseAssets" />
    <link:label xlink:type="resource" xlink:label="label_RightofuseAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RightofuseAssets_1" xml:lang="en-US" id="label_RightofuseAssets_1">Right-of-use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightofuseAssets" xlink:to="label_RightofuseAssets_1" xlink:title="Label : RightofuseAssets to label_RightofuseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_RightofuseAssets_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_RightofuseAssets_2" xml:lang="en-US" id="label_RightofuseAssets_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightofuseAssets" xlink:to="label_RightofuseAssets_2" xlink:title="Label : RightofuseAssets to label_RightofuseAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_RightofuseAssets_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_RightofuseAssets_3" xml:lang="en-US" id="label_RightofuseAssets_3">Ending Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightofuseAssets" xlink:to="label_RightofuseAssets_3" xlink:title="Label : RightofuseAssets to label_RightofuseAssets_3" />
    <link:label xlink:type="resource" xlink:label="label_RightofuseAssets_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RightofuseAssets_4" xml:lang="en-US" id="label_RightofuseAssets_4">Rights-of-use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightofuseAssets" xlink:to="label_RightofuseAssets_4" xlink:title="Label : RightofuseAssets to label_RightofuseAssets_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentContractAssets" xlink:label="NoncurrentContractAssets" xlink:title="NoncurrentContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentContractAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentContractAssets" xml:lang="en-US" id="label_NoncurrentContractAssets">Non-current contract assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentContractAssets" xlink:to="label_NoncurrentContractAssets" xlink:title="Label : NoncurrentContractAssets to label_NoncurrentContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentContractAssets_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentContractAssets_1" xml:lang="en-US" id="label_NoncurrentContractAssets_1">Contract asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentContractAssets" xlink:to="label_NoncurrentContractAssets_1" xlink:title="Label : NoncurrentContractAssets to label_NoncurrentContractAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="PropertyPlantAndEquipment" xlink:title="PropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipment" xml:lang="en-US" id="label_PropertyPlantAndEquipment">Property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipment" xlink:to="label_PropertyPlantAndEquipment" xlink:title="Label : PropertyPlantAndEquipment to label_PropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PropertyPlantAndEquipment_1" xml:lang="en-US" id="label_PropertyPlantAndEquipment_1">Property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipment" xlink:to="label_PropertyPlantAndEquipment_1" xlink:title="Label : PropertyPlantAndEquipment to label_PropertyPlantAndEquipment_1" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipment_2" xml:lang="en-US" id="label_PropertyPlantAndEquipment_2">Property plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipment" xlink:to="label_PropertyPlantAndEquipment_2" xlink:title="Label : PropertyPlantAndEquipment to label_PropertyPlantAndEquipment_2" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipment_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_PropertyPlantAndEquipment_3" xml:lang="en-US" id="label_PropertyPlantAndEquipment_3">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipment" xlink:to="label_PropertyPlantAndEquipment_3" xlink:title="Label : PropertyPlantAndEquipment to label_PropertyPlantAndEquipment_3" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipment_4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_PropertyPlantAndEquipment_4" xml:lang="en-US" id="label_PropertyPlantAndEquipment_4">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipment" xlink:to="label_PropertyPlantAndEquipment_4" xlink:title="Label : PropertyPlantAndEquipment to label_PropertyPlantAndEquipment_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="IntangibleAssetsAndGoodwill" xlink:title="IntangibleAssetsAndGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsAndGoodwill" xml:lang="en-US" id="label_IntangibleAssetsAndGoodwill">Intangible assets and goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwill" xlink:to="label_IntangibleAssetsAndGoodwill" xlink:title="Label : IntangibleAssetsAndGoodwill to label_IntangibleAssetsAndGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwill_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntangibleAssetsAndGoodwill_1" xml:lang="en-US" id="label_IntangibleAssetsAndGoodwill_1">Intangible assets and goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwill" xlink:to="label_IntangibleAssetsAndGoodwill_1" xlink:title="Label : IntangibleAssetsAndGoodwill to label_IntangibleAssetsAndGoodwill_1" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_IntangibleAssetsAndGoodwill_2" xml:lang="en-US" id="label_IntangibleAssetsAndGoodwill_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwill" xlink:to="label_IntangibleAssetsAndGoodwill_2" xlink:title="Label : IntangibleAssetsAndGoodwill to label_IntangibleAssetsAndGoodwill_2" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwill_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_IntangibleAssetsAndGoodwill_3" xml:lang="en-US" id="label_IntangibleAssetsAndGoodwill_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwill" xlink:to="label_IntangibleAssetsAndGoodwill_3" xlink:title="Label : IntangibleAssetsAndGoodwill to label_IntangibleAssetsAndGoodwill_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentAssets" xlink:label="NoncurrentAssets" xlink:title="NoncurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssets" xml:lang="en-US" id="label_NoncurrentAssets">Non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssets" xlink:to="label_NoncurrentAssets" xlink:title="Label : NoncurrentAssets to label_NoncurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NoncurrentAssets_1" xml:lang="en-US" id="label_NoncurrentAssets_1">Total non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssets" xlink:to="label_NoncurrentAssets_1" xlink:title="Label : NoncurrentAssets to label_NoncurrentAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentAssets_2" xml:lang="en-US" id="label_NoncurrentAssets_2">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssets" xlink:to="label_NoncurrentAssets_2" xlink:title="Label : NoncurrentAssets to label_NoncurrentAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets" xlink:title="Label : Assets to label_Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Assets_1" xml:lang="en-US" id="label_Assets_1">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_1" xlink:title="Label : Assets to label_Assets_1" />
    <link:label xlink:type="resource" xlink:label="label_Assets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Assets_2" xml:lang="en-US" id="label_Assets_2">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_2" xlink:title="Label : Assets to label_Assets_2" />
    <link:label xlink:type="resource" xlink:label="label_Assets_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Assets_3" xml:lang="en-US" id="label_Assets_3">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_3" xlink:title="Label : Assets to label_Assets_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="LiabilitiesAbstract" xlink:title="LiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesAbstract" xml:lang="en-US" id="label_LiabilitiesAbstract">Liabilities [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAbstract" xlink:to="label_LiabilitiesAbstract" xlink:title="Label : LiabilitiesAbstract to label_LiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesAbstract_1" xml:lang="en-US" id="label_LiabilitiesAbstract_1">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAbstract" xlink:to="label_LiabilitiesAbstract_1" xlink:title="Label : LiabilitiesAbstract to label_LiabilitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ShorttermBorrowings" xlink:title="ShorttermBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShorttermBorrowings" xml:lang="en-US" id="label_ShorttermBorrowings">Current borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermBorrowings" xlink:to="label_ShorttermBorrowings" xlink:title="Label : ShorttermBorrowings to label_ShorttermBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ShorttermBorrowings_1" xml:lang="en-US" id="label_ShorttermBorrowings_1">Loans, borrowings and debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermBorrowings" xlink:to="label_ShorttermBorrowings_1" xlink:title="Label : ShorttermBorrowings to label_ShorttermBorrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShorttermBorrowings_2" xml:lang="en-US" id="label_ShorttermBorrowings_2">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermBorrowings" xlink:to="label_ShorttermBorrowings_2" xlink:title="Label : ShorttermBorrowings to label_ShorttermBorrowings_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceLeaseLiabilitiesCurrent" xlink:label="FinanceLeaseLiabilitiesCurrent" xlink:title="FinanceLeaseLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceLeaseLiabilitiesCurrent" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesCurrent">Finance Lease Liabilities Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesCurrent" xlink:to="label_FinanceLeaseLiabilitiesCurrent" xlink:title="Label : FinanceLeaseLiabilitiesCurrent to label_FinanceLeaseLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinanceLeaseLiabilitiesCurrent_1" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesCurrent_1">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesCurrent" xlink:to="label_FinanceLeaseLiabilitiesCurrent_1" xlink:title="Label : FinanceLeaseLiabilitiesCurrent to label_FinanceLeaseLiabilitiesCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_FinanceLeaseLiabilitiesCurrent_2" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesCurrent_2">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesCurrent" xlink:to="label_FinanceLeaseLiabilitiesCurrent_2" xlink:title="Label : FinanceLeaseLiabilitiesCurrent to label_FinanceLeaseLiabilitiesCurrent_2" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesCurrent_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinanceLeaseLiabilitiesCurrent_3" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesCurrent_3">Amount of finance lease liabilities current.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesCurrent" xlink:to="label_FinanceLeaseLiabilitiesCurrent_3" xlink:title="Label : FinanceLeaseLiabilitiesCurrent to label_FinanceLeaseLiabilitiesCurrent_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="CurrentDerivativeFinancialLiabilities" xlink:title="CurrentDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_CurrentDerivativeFinancialLiabilities">Current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialLiabilities" xlink:to="label_CurrentDerivativeFinancialLiabilities" xlink:title="Label : CurrentDerivativeFinancialLiabilities to label_CurrentDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentDerivativeFinancialLiabilities_1" xml:lang="en-US" id="label_CurrentDerivativeFinancialLiabilities_1">Current derivative financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialLiabilities" xlink:to="label_CurrentDerivativeFinancialLiabilities_1" xlink:title="Label : CurrentDerivativeFinancialLiabilities to label_CurrentDerivativeFinancialLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:title="TradeAndOtherCurrentPayablesToTradeSuppliers" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentPayablesToTradeSuppliers" xml:lang="en-US" id="label_TradeAndOtherCurrentPayablesToTradeSuppliers">Current trade payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="label_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:title="Label : TradeAndOtherCurrentPayablesToTradeSuppliers to label_TradeAndOtherCurrentPayablesToTradeSuppliers" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayablesToTradeSuppliers_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentPayablesToTradeSuppliers_1" xml:lang="en-US" id="label_TradeAndOtherCurrentPayablesToTradeSuppliers_1">Trade payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="label_TradeAndOtherCurrentPayablesToTradeSuppliers_1" xlink:title="Label : TradeAndOtherCurrentPayablesToTradeSuppliers to label_TradeAndOtherCurrentPayablesToTradeSuppliers_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:label="CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="CurrentRecognisedLiabilitiesDefinedBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xml:lang="en-US" id="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan">Current net defined benefit liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:to="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="Label : CurrentRecognisedLiabilitiesDefinedBenefitPlan to label_CurrentRecognisedLiabilitiesDefinedBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_1" xml:lang="en-US" id="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_1">Employee benefits payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:to="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_1" xlink:title="Label : CurrentRecognisedLiabilitiesDefinedBenefitPlan to label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_2" xml:lang="en-US" id="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_2">Employee benefits payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:to="label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_2" xlink:title="Label : CurrentRecognisedLiabilitiesDefinedBenefitPlan to label_CurrentRecognisedLiabilitiesDefinedBenefitPlan_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="CurrentTaxLiabilitiesCurrent" xlink:title="CurrentTaxLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentTaxLiabilitiesCurrent" xml:lang="en-US" id="label_CurrentTaxLiabilitiesCurrent">Current tax liabilities, current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxLiabilitiesCurrent" xlink:to="label_CurrentTaxLiabilitiesCurrent" xlink:title="Label : CurrentTaxLiabilitiesCurrent to label_CurrentTaxLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxLiabilitiesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentTaxLiabilitiesCurrent_1" xml:lang="en-US" id="label_CurrentTaxLiabilitiesCurrent_1">Income tax payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxLiabilitiesCurrent" xlink:to="label_CurrentTaxLiabilitiesCurrent_1" xlink:title="Label : CurrentTaxLiabilitiesCurrent to label_CurrentTaxLiabilitiesCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xml:lang="en-US" id="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">Current payables on social security and taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="Label : CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" xml:lang="en-US" id="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1">Other taxes payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" xlink:title="Label : CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" xml:lang="en-US" id="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" xlink:title="Label : CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentDividendPayables" xlink:label="CurrentDividendPayables" xlink:title="CurrentDividendPayables" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDividendPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentDividendPayables" xml:lang="en-US" id="label_CurrentDividendPayables">Current dividend payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDividendPayables" xlink:to="label_CurrentDividendPayables" xlink:title="Label : CurrentDividendPayables to label_CurrentDividendPayables" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDividendPayables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentDividendPayables_1" xml:lang="en-US" id="label_CurrentDividendPayables_1">Dividends payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDividendPayables" xlink:to="label_CurrentDividendPayables_1" xlink:title="Label : CurrentDividendPayables to label_CurrentDividendPayables_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentConcessionsPayables" xlink:label="CurrentConcessionsPayables" xlink:title="CurrentConcessionsPayables" />
    <link:label xlink:type="resource" xlink:label="label_CurrentConcessionsPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentConcessionsPayables" xml:lang="en-US" id="label_CurrentConcessionsPayables">Current concessions payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentConcessionsPayables" xlink:to="label_CurrentConcessionsPayables" xlink:title="Label : CurrentConcessionsPayables to label_CurrentConcessionsPayables" />
    <link:label xlink:type="resource" xlink:label="label_CurrentConcessionsPayables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentConcessionsPayables_1" xml:lang="en-US" id="label_CurrentConcessionsPayables_1">Concessions payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentConcessionsPayables" xlink:to="label_CurrentConcessionsPayables_1" xlink:title="Label : CurrentConcessionsPayables to label_CurrentConcessionsPayables_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentConcessionsPayables_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CurrentConcessionsPayables_2" xml:lang="en-US" id="label_CurrentConcessionsPayables_2">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentConcessionsPayables" xlink:to="label_CurrentConcessionsPayables_2" xlink:title="Label : CurrentConcessionsPayables to label_CurrentConcessionsPayables_2" />
    <link:label xlink:type="resource" xlink:label="label_CurrentConcessionsPayables_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentConcessionsPayables_3" xml:lang="en-US" id="label_CurrentConcessionsPayables_3">Current concessions payables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentConcessionsPayables" xlink:to="label_CurrentConcessionsPayables_3" xlink:title="Label : CurrentConcessionsPayables to label_CurrentConcessionsPayables_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:label="TradeAndOtherCurrentPayablesToRelatedParties" xlink:title="TradeAndOtherCurrentPayablesToRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentPayablesToRelatedParties" xml:lang="en-US" id="label_TradeAndOtherCurrentPayablesToRelatedParties">Current payables to related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayablesToRelatedParties" xlink:to="label_TradeAndOtherCurrentPayablesToRelatedParties" xlink:title="Label : TradeAndOtherCurrentPayablesToRelatedParties to label_TradeAndOtherCurrentPayablesToRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentPayablesToRelatedParties_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentPayablesToRelatedParties_1" xml:lang="en-US" id="label_TradeAndOtherCurrentPayablesToRelatedParties_1">Payables to related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentPayablesToRelatedParties" xlink:to="label_TradeAndOtherCurrentPayablesToRelatedParties_1" xlink:title="Label : TradeAndOtherCurrentPayablesToRelatedParties to label_TradeAndOtherCurrentPayablesToRelatedParties_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentSectorFinancialLiabilities" xlink:label="CurrentSectorFinancialLiabilities" xlink:title="CurrentSectorFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentSectorFinancialLiabilities" xml:lang="en-US" id="label_CurrentSectorFinancialLiabilities">Sector financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialLiabilities" xlink:to="label_CurrentSectorFinancialLiabilities" xlink:title="Label : CurrentSectorFinancialLiabilities to label_CurrentSectorFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentSectorFinancialLiabilities_1" xml:lang="en-US" id="label_CurrentSectorFinancialLiabilities_1">The amount of current portion of sector financial liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialLiabilities" xlink:to="label_CurrentSectorFinancialLiabilities_1" xlink:title="Label : CurrentSectorFinancialLiabilities to label_CurrentSectorFinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentSectorFinancialLiabilities_2" xml:lang="en-US" id="label_CurrentSectorFinancialLiabilities_2">Current Sector Financial Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialLiabilities" xlink:to="label_CurrentSectorFinancialLiabilities_2" xlink:title="Label : CurrentSectorFinancialLiabilities to label_CurrentSectorFinancialLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_CurrentSectorFinancialLiabilities_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentSectorFinancialLiabilities_3" xml:lang="en-US" id="label_CurrentSectorFinancialLiabilities_3">Sector financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentSectorFinancialLiabilities" xlink:to="label_CurrentSectorFinancialLiabilities_3" xlink:title="Label : CurrentSectorFinancialLiabilities to label_CurrentSectorFinancialLiabilities_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentFinancialLiabilities" xlink:label="OtherCurrentFinancialLiabilities" xlink:title="OtherCurrentFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentFinancialLiabilities" xml:lang="en-US" id="label_OtherCurrentFinancialLiabilities">Other current financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentFinancialLiabilities" xlink:to="label_OtherCurrentFinancialLiabilities" xlink:title="Label : OtherCurrentFinancialLiabilities to label_OtherCurrentFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentFinancialLiabilities_1" xml:lang="en-US" id="label_OtherCurrentFinancialLiabilities_1">Other financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentFinancialLiabilities" xlink:to="label_OtherCurrentFinancialLiabilities_1" xlink:title="Label : OtherCurrentFinancialLiabilities to label_OtherCurrentFinancialLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentLiabilities" xlink:label="OtherCurrentLiabilities" xlink:title="OtherCurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentLiabilities" xml:lang="en-US" id="label_OtherCurrentLiabilities">Other current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentLiabilities" xlink:to="label_OtherCurrentLiabilities" xlink:title="Label : OtherCurrentLiabilities to label_OtherCurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentLiabilities_1" xml:lang="en-US" id="label_OtherCurrentLiabilities_1">Other current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentLiabilities" xlink:to="label_OtherCurrentLiabilities_1" xlink:title="Label : OtherCurrentLiabilities to label_OtherCurrentLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentLiabilities" xlink:label="CurrentLiabilities" xlink:title="CurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentLiabilities" xml:lang="en-US" id="label_CurrentLiabilities">Current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilities" xlink:to="label_CurrentLiabilities" xlink:title="Label : CurrentLiabilities to label_CurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CurrentLiabilities_1" xml:lang="en-US" id="label_CurrentLiabilities_1">Total current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilities" xlink:to="label_CurrentLiabilities_1" xlink:title="Label : CurrentLiabilities to label_CurrentLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLiabilities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentLiabilities_2" xml:lang="en-US" id="label_CurrentLiabilities_2">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLiabilities" xlink:to="label_CurrentLiabilities_2" xlink:title="Label : CurrentLiabilities to label_CurrentLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LongtermBorrowings" xlink:label="LongtermBorrowings" xlink:title="LongtermBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_LongtermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongtermBorrowings" xml:lang="en-US" id="label_LongtermBorrowings">Non-current portion of non-current borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings" xlink:title="Label : LongtermBorrowings to label_LongtermBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_LongtermBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongtermBorrowings_1" xml:lang="en-US" id="label_LongtermBorrowings_1">Loans, borrowings and debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings_1" xlink:title="Label : LongtermBorrowings to label_LongtermBorrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_LongtermBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LongtermBorrowings_2" xml:lang="en-US" id="label_LongtermBorrowings_2">Non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings_2" xlink:title="Label : LongtermBorrowings to label_LongtermBorrowings_2" />
    <link:label xlink:type="resource" xlink:label="label_LongtermBorrowings_3" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_LongtermBorrowings_3" xml:lang="en-US" id="label_LongtermBorrowings_3">Non-current borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermBorrowings" xlink:to="label_LongtermBorrowings_3" xlink:title="Label : LongtermBorrowings to label_LongtermBorrowings_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceLeaseLiabilitiesNonCurrent" xlink:label="FinanceLeaseLiabilitiesNonCurrent" xlink:title="FinanceLeaseLiabilitiesNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesNonCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceLeaseLiabilitiesNonCurrent" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesNonCurrent">Finance Lease Liabilities Non Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesNonCurrent" xlink:to="label_FinanceLeaseLiabilitiesNonCurrent" xlink:title="Label : FinanceLeaseLiabilitiesNonCurrent to label_FinanceLeaseLiabilitiesNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesNonCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinanceLeaseLiabilitiesNonCurrent_1" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesNonCurrent_1">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesNonCurrent" xlink:to="label_FinanceLeaseLiabilitiesNonCurrent_1" xlink:title="Label : FinanceLeaseLiabilitiesNonCurrent to label_FinanceLeaseLiabilitiesNonCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesNonCurrent_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_FinanceLeaseLiabilitiesNonCurrent_2" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesNonCurrent_2">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesNonCurrent" xlink:to="label_FinanceLeaseLiabilitiesNonCurrent_2" xlink:title="Label : FinanceLeaseLiabilitiesNonCurrent to label_FinanceLeaseLiabilitiesNonCurrent_2" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseLiabilitiesNonCurrent_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinanceLeaseLiabilitiesNonCurrent_3" xml:lang="en-US" id="label_FinanceLeaseLiabilitiesNonCurrent_3">Amount of finance lease liabilities non current.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseLiabilitiesNonCurrent" xlink:to="label_FinanceLeaseLiabilitiesNonCurrent_3" xlink:title="Label : FinanceLeaseLiabilitiesNonCurrent to label_FinanceLeaseLiabilitiesNonCurrent_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:label="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:title="PreferredShareholdersPayableSubsidiariesNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredShareholdersPayableSubsidiariesNonCurrent" xml:lang="en-US" id="label_PreferredShareholdersPayableSubsidiariesNonCurrent">Preferred shareholders payable subsidiaries non current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:to="label_PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:title="Label : PreferredShareholdersPayableSubsidiariesNonCurrent to label_PreferredShareholdersPayableSubsidiariesNonCurrent" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableSubsidiariesNonCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredShareholdersPayableSubsidiariesNonCurrent_1" xml:lang="en-US" id="label_PreferredShareholdersPayableSubsidiariesNonCurrent_1">Preferred shareholders payable in subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:to="label_PreferredShareholdersPayableSubsidiariesNonCurrent_1" xlink:title="Label : PreferredShareholdersPayableSubsidiariesNonCurrent to label_PreferredShareholdersPayableSubsidiariesNonCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableSubsidiariesNonCurrent_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PreferredShareholdersPayableSubsidiariesNonCurrent_2" xml:lang="en-US" id="label_PreferredShareholdersPayableSubsidiariesNonCurrent_2">Preferred shareholders payable in subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:to="label_PreferredShareholdersPayableSubsidiariesNonCurrent_2" xlink:title="Label : PreferredShareholdersPayableSubsidiariesNonCurrent to label_PreferredShareholdersPayableSubsidiariesNonCurrent_2" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableSubsidiariesNonCurrent_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_PreferredShareholdersPayableSubsidiariesNonCurrent_3" xml:lang="en-US" id="label_PreferredShareholdersPayableSubsidiariesNonCurrent_3">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:to="label_PreferredShareholdersPayableSubsidiariesNonCurrent_3" xlink:title="Label : PreferredShareholdersPayableSubsidiariesNonCurrent to label_PreferredShareholdersPayableSubsidiariesNonCurrent_3" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableSubsidiariesNonCurrent_4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_PreferredShareholdersPayableSubsidiariesNonCurrent_4" xml:lang="en-US" id="label_PreferredShareholdersPayableSubsidiariesNonCurrent_4">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:to="label_PreferredShareholdersPayableSubsidiariesNonCurrent_4" xlink:title="Label : PreferredShareholdersPayableSubsidiariesNonCurrent to label_PreferredShareholdersPayableSubsidiariesNonCurrent_4" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableSubsidiariesNonCurrent_5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredShareholdersPayableSubsidiariesNonCurrent_5" xml:lang="en-US" id="label_PreferredShareholdersPayableSubsidiariesNonCurrent_5">Preferred shareholders payable subsidiaries non current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableSubsidiariesNonCurrent" xlink:to="label_PreferredShareholdersPayableSubsidiariesNonCurrent_5" xlink:title="Label : PreferredShareholdersPayableSubsidiariesNonCurrent to label_PreferredShareholdersPayableSubsidiariesNonCurrent_5" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="NoncurrentDerivativeFinancialLiabilities" xlink:title="NoncurrentDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NoncurrentDerivativeFinancialLiabilities" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialLiabilities">Non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialLiabilities" xlink:to="label_NoncurrentDerivativeFinancialLiabilities" xlink:title="Label : NoncurrentDerivativeFinancialLiabilities to label_NoncurrentDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentDerivativeFinancialLiabilities_1" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialLiabilities_1">Non-current derivative financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialLiabilities" xlink:to="label_NoncurrentDerivativeFinancialLiabilities_1" xlink:title="Label : NoncurrentDerivativeFinancialLiabilities to label_NoncurrentDerivativeFinancialLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xml:lang="en-US" id="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">Non-current payables on social security and taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:title="Label : NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" xml:lang="en-US" id="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1">Other taxes payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" xlink:title="Label : NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" xml:lang="en-US" id="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2">Non-Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" xlink:title="Label : NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_2" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_3" xml:lang="en-US" id="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_3">Other tax payable non current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_3" xlink:title="Label : NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax to label_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LongtermLegalProceedingsProvision" xlink:label="LongtermLegalProceedingsProvision" xlink:title="LongtermLegalProceedingsProvision" />
    <link:label xlink:type="resource" xlink:label="label_LongtermLegalProceedingsProvision" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongtermLegalProceedingsProvision" xml:lang="en-US" id="label_LongtermLegalProceedingsProvision">Non-current legal proceedings provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermLegalProceedingsProvision" xlink:to="label_LongtermLegalProceedingsProvision" xlink:title="Label : LongtermLegalProceedingsProvision to label_LongtermLegalProceedingsProvision" />
    <link:label xlink:type="resource" xlink:label="label_LongtermLegalProceedingsProvision_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongtermLegalProceedingsProvision_1" xml:lang="en-US" id="label_LongtermLegalProceedingsProvision_1">Provision for legal proceedings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermLegalProceedingsProvision" xlink:to="label_LongtermLegalProceedingsProvision_1" xlink:title="Label : LongtermLegalProceedingsProvision to label_LongtermLegalProceedingsProvision_1" />
    <link:label xlink:type="resource" xlink:label="label_LongtermLegalProceedingsProvision_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_LongtermLegalProceedingsProvision_2" xml:lang="en-US" id="label_LongtermLegalProceedingsProvision_2">Legal proceedings provision beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermLegalProceedingsProvision" xlink:to="label_LongtermLegalProceedingsProvision_2" xlink:title="Label : LongtermLegalProceedingsProvision to label_LongtermLegalProceedingsProvision_2" />
    <link:label xlink:type="resource" xlink:label="label_LongtermLegalProceedingsProvision_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_LongtermLegalProceedingsProvision_3" xml:lang="en-US" id="label_LongtermLegalProceedingsProvision_3">Legal proceedings provision ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermLegalProceedingsProvision" xlink:to="label_LongtermLegalProceedingsProvision_3" xlink:title="Label : LongtermLegalProceedingsProvision to label_LongtermLegalProceedingsProvision_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NoncurrentConcessionsPayables" xlink:label="NoncurrentConcessionsPayables" xlink:title="NoncurrentConcessionsPayables" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentConcessionsPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentConcessionsPayables" xml:lang="en-US" id="label_NoncurrentConcessionsPayables">Noncurrent concessions payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentConcessionsPayables" xlink:to="label_NoncurrentConcessionsPayables" xlink:title="Label : NoncurrentConcessionsPayables to label_NoncurrentConcessionsPayables" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentConcessionsPayables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentConcessionsPayables_1" xml:lang="en-US" id="label_NoncurrentConcessionsPayables_1">Concessions payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentConcessionsPayables" xlink:to="label_NoncurrentConcessionsPayables_1" xlink:title="Label : NoncurrentConcessionsPayables to label_NoncurrentConcessionsPayables_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentConcessionsPayables_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentConcessionsPayables_2" xml:lang="en-US" id="label_NoncurrentConcessionsPayables_2">Non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentConcessionsPayables" xlink:to="label_NoncurrentConcessionsPayables_2" xlink:title="Label : NoncurrentConcessionsPayables to label_NoncurrentConcessionsPayables_2" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentConcessionsPayables_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NoncurrentConcessionsPayables_3" xml:lang="en-US" id="label_NoncurrentConcessionsPayables_3">Noncurrent concessions payables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentConcessionsPayables" xlink:to="label_NoncurrentConcessionsPayables_3" xlink:title="Label : NoncurrentConcessionsPayables to label_NoncurrentConcessionsPayables_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:label="OtherNoncurrentFinancialLiabilities" xlink:title="OtherNoncurrentFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentFinancialLiabilities" xml:lang="en-US" id="label_OtherNoncurrentFinancialLiabilities">Other non-current financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentFinancialLiabilities" xlink:to="label_OtherNoncurrentFinancialLiabilities" xlink:title="Label : OtherNoncurrentFinancialLiabilities to label_OtherNoncurrentFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNoncurrentFinancialLiabilities_1" xml:lang="en-US" id="label_OtherNoncurrentFinancialLiabilities_1">Other financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentFinancialLiabilities" xlink:to="label_OtherNoncurrentFinancialLiabilities_1" xlink:title="Label : OtherNoncurrentFinancialLiabilities to label_OtherNoncurrentFinancialLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:label="NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xml:lang="en-US" id="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan">Non-current net defined benefit liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:to="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:title="Label : NoncurrentRecognisedLiabilitiesDefinedBenefitPlan to label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan_1" xml:lang="en-US" id="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan_1">Post-employment benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentRecognisedLiabilitiesDefinedBenefitPlan" xlink:to="label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan_1" xlink:title="Label : NoncurrentRecognisedLiabilitiesDefinedBenefitPlan to label_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="DeferredTaxLiabilities" xlink:title="DeferredTaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:title="label_DeferredTaxLiabilities" xml:lang="en-US" id="label_DeferredTaxLiabilities">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_DeferredTaxLiabilities" xlink:title="Label : DeferredTaxLiabilities to label_DeferredTaxLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilities_1" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:title="label_DeferredTaxLiabilities_1" xml:lang="en-US" id="label_DeferredTaxLiabilities_1">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_DeferredTaxLiabilities_1" xlink:title="Label : DeferredTaxLiabilities to label_DeferredTaxLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxLiabilities_2" xml:lang="en-US" id="label_DeferredTaxLiabilities_2">Deferred tax liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_DeferredTaxLiabilities_2" xlink:title="Label : DeferredTaxLiabilities to label_DeferredTaxLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilities_3" xml:lang="en-US" id="label_DeferredTaxLiabilities_3">Deferred tax liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilities" xlink:to="label_DeferredTaxLiabilities_3" xlink:title="Label : DeferredTaxLiabilities to label_DeferredTaxLiabilities_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonCurrentSectorFinancialLiabilities" xlink:label="NonCurrentSectorFinancialLiabilities" xlink:title="NonCurrentSectorFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentSectorFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonCurrentSectorFinancialLiabilities" xml:lang="en-US" id="label_NonCurrentSectorFinancialLiabilities">Non Current Sector Financial Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentSectorFinancialLiabilities" xlink:to="label_NonCurrentSectorFinancialLiabilities" xlink:title="Label : NonCurrentSectorFinancialLiabilities to label_NonCurrentSectorFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentSectorFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonCurrentSectorFinancialLiabilities_1" xml:lang="en-US" id="label_NonCurrentSectorFinancialLiabilities_1">The amount of non-current portion of sector financial liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentSectorFinancialLiabilities" xlink:to="label_NonCurrentSectorFinancialLiabilities_1" xlink:title="Label : NonCurrentSectorFinancialLiabilities to label_NonCurrentSectorFinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentSectorFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonCurrentSectorFinancialLiabilities_2" xml:lang="en-US" id="label_NonCurrentSectorFinancialLiabilities_2">Sector financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentSectorFinancialLiabilities" xlink:to="label_NonCurrentSectorFinancialLiabilities_2" xlink:title="Label : NonCurrentSectorFinancialLiabilities to label_NonCurrentSectorFinancialLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="OtherNoncurrentLiabilities" xlink:title="OtherNoncurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentLiabilities" xml:lang="en-US" id="label_OtherNoncurrentLiabilities">Other non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentLiabilities" xlink:to="label_OtherNoncurrentLiabilities" xlink:title="Label : OtherNoncurrentLiabilities to label_OtherNoncurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNoncurrentLiabilities_1" xml:lang="en-US" id="label_OtherNoncurrentLiabilities_1">Other non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentLiabilities" xlink:to="label_OtherNoncurrentLiabilities_1" xlink:title="Label : OtherNoncurrentLiabilities to label_OtherNoncurrentLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="NoncurrentLiabilities" xlink:title="NoncurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentLiabilities" xml:lang="en-US" id="label_NoncurrentLiabilities">Non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilities" xlink:to="label_NoncurrentLiabilities" xlink:title="Label : NoncurrentLiabilities to label_NoncurrentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NoncurrentLiabilities_1" xml:lang="en-US" id="label_NoncurrentLiabilities_1">Total non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilities" xlink:to="label_NoncurrentLiabilities_1" xlink:title="Label : NoncurrentLiabilities to label_NoncurrentLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentLiabilities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NoncurrentLiabilities_2" xml:lang="en-US" id="label_NoncurrentLiabilities_2">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLiabilities" xlink:to="label_NoncurrentLiabilities_2" xlink:title="Label : NoncurrentLiabilities to label_NoncurrentLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities" xlink:title="Label : Liabilities to label_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Liabilities_1" xml:lang="en-US" id="label_Liabilities_1">Total liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities_1" xlink:title="Label : Liabilities to label_Liabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_Liabilities_2" xml:lang="en-US" id="label_Liabilities_2">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities_2" xlink:title="Label : Liabilities to label_Liabilities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAbstract" xml:lang="en-US" id="label_EquityAbstract">Equity [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_EquityAbstract" xlink:title="Label : EquityAbstract to label_EquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EquityAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EquityAbstract_1" xml:lang="en-US" id="label_EquityAbstract_1">Shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="label_EquityAbstract_1" xlink:title="Label : EquityAbstract to label_EquityAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssuedCapital" xlink:label="IssuedCapital" xlink:title="IssuedCapital" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuedCapital" xml:lang="en-US" id="label_IssuedCapital">Issued capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_IssuedCapital" xlink:title="Label : IssuedCapital to label_IssuedCapital" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapital_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuedCapital_1" xml:lang="en-US" id="label_IssuedCapital_1">Share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapital" xlink:to="label_IssuedCapital_1" xlink:title="Label : IssuedCapital to label_IssuedCapital_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:label="AccumulatedOtherComprehensiveIncome" xlink:title="AccumulatedOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedOtherComprehensiveIncome" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncome">Accumulated other comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncome" xlink:to="label_AccumulatedOtherComprehensiveIncome" xlink:title="Label : AccumulatedOtherComprehensiveIncome to label_AccumulatedOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncome_1" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncome_1">Accumulated other comprehensive loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncome" xlink:to="label_AccumulatedOtherComprehensiveIncome_1" xlink:title="Label : AccumulatedOtherComprehensiveIncome to label_AccumulatedOtherComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RetainedEarnings" xlink:label="RetainedEarnings" xlink:title="RetainedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarnings" xml:lang="en-US" id="label_RetainedEarnings">Retained earnings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarnings" xlink:to="label_RetainedEarnings" xlink:title="Label : RetainedEarnings to label_RetainedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarnings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarnings_1" xml:lang="en-US" id="label_RetainedEarnings_1">Retained earnings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarnings" xlink:to="label_RetainedEarnings_1" xlink:title="Label : RetainedEarnings to label_RetainedEarnings_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ShareholdersEquityAttributableToAbstract" xlink:label="ShareholdersEquityAttributableToAbstract" xlink:title="ShareholdersEquityAttributableToAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdersEquityAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareholdersEquityAttributableToAbstract" xml:lang="en-US" id="label_ShareholdersEquityAttributableToAbstract">Shareholders Equity Attributable to [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdersEquityAttributableToAbstract" xlink:to="label_ShareholdersEquityAttributableToAbstract" xlink:title="Label : ShareholdersEquityAttributableToAbstract to label_ShareholdersEquityAttributableToAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdersEquityAttributableToAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ShareholdersEquityAttributableToAbstract_1" xml:lang="en-US" id="label_ShareholdersEquityAttributableToAbstract_1">Shareholders' equity attributable to:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdersEquityAttributableToAbstract" xlink:to="label_ShareholdersEquityAttributableToAbstract_1" xlink:title="Label : ShareholdersEquityAttributableToAbstract to label_ShareholdersEquityAttributableToAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdersEquityAttributableToAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareholdersEquityAttributableToAbstract_2" xml:lang="en-US" id="label_ShareholdersEquityAttributableToAbstract_2">Equity attributable to:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdersEquityAttributableToAbstract" xlink:to="label_ShareholdersEquityAttributableToAbstract_2" xlink:title="Label : ShareholdersEquityAttributableToAbstract to label_ShareholdersEquityAttributableToAbstract_2" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdersEquityAttributableToAbstract_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareholdersEquityAttributableToAbstract_3" xml:lang="en-US" id="label_ShareholdersEquityAttributableToAbstract_3">Shareholders Equity Attributable to [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdersEquityAttributableToAbstract" xlink:to="label_ShareholdersEquityAttributableToAbstract_3" xlink:title="Label : ShareholdersEquityAttributableToAbstract to label_ShareholdersEquityAttributableToAbstract_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="EquityAttributableToOwnersOfParent" xlink:title="EquityAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAttributableToOwnersOfParent" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParent">Equity attributable to owners of parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParent" xlink:to="label_EquityAttributableToOwnersOfParent" xlink:title="Label : EquityAttributableToOwnersOfParent to label_EquityAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EquityAttributableToOwnersOfParent_1" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParent_1">Owners of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParent" xlink:to="label_EquityAttributableToOwnersOfParent_1" xlink:title="Label : EquityAttributableToOwnersOfParent to label_EquityAttributableToOwnersOfParent_1" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EquityAttributableToOwnersOfParent_2" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParent_2">Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParent" xlink:to="label_EquityAttributableToOwnersOfParent_2" xlink:title="Label : EquityAttributableToOwnersOfParent to label_EquityAttributableToOwnersOfParent_2" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParent_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAttributableToOwnersOfParent_3" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParent_3">Owners of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParent" xlink:to="label_EquityAttributableToOwnersOfParent_3" xlink:title="Label : EquityAttributableToOwnersOfParent to label_EquityAttributableToOwnersOfParent_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncontrollingInterests" xlink:label="NoncontrollingInterests" xlink:title="NoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterests" xml:lang="en-US" id="label_NoncontrollingInterests">Non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterests" xlink:to="label_NoncontrollingInterests" xlink:title="Label : NoncontrollingInterests to label_NoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterests_1" xml:lang="en-US" id="label_NoncontrollingInterests_1">Non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterests" xlink:to="label_NoncontrollingInterests_1" xlink:title="Label : NoncontrollingInterests to label_NoncontrollingInterests_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_NoncontrollingInterests_2" xml:lang="en-US" id="label_NoncontrollingInterests_2">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterests" xlink:to="label_NoncontrollingInterests_2" xlink:title="Label : NoncontrollingInterests to label_NoncontrollingInterests_2" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterests_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_NoncontrollingInterests_3" xml:lang="en-US" id="label_NoncontrollingInterests_3">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterests" xlink:to="label_NoncontrollingInterests_3" xlink:title="Label : NoncontrollingInterests to label_NoncontrollingInterests_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Equity" xlink:label="Equity" xlink:title="Equity" />
    <link:label xlink:type="resource" xlink:label="label_Equity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Equity" xml:lang="en-US" id="label_Equity">Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity" xlink:title="Label : Equity to label_Equity" />
    <link:label xlink:type="resource" xlink:label="label_Equity_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Equity_1" xml:lang="en-US" id="label_Equity_1">Total shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_1" xlink:title="Label : Equity to label_Equity_1" />
    <link:label xlink:type="resource" xlink:label="label_Equity_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_Equity_2" xml:lang="en-US" id="label_Equity_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_2" xlink:title="Label : Equity to label_Equity_2" />
    <link:label xlink:type="resource" xlink:label="label_Equity_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_Equity_3" xml:lang="en-US" id="label_Equity_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_3" xlink:title="Label : Equity to label_Equity_3" />
    <link:label xlink:type="resource" xlink:label="label_Equity_4" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_Equity_4" xml:lang="en-US" id="label_Equity_4">Total shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_4" xlink:title="Label : Equity to label_Equity_4" />
    <link:label xlink:type="resource" xlink:label="label_Equity_5" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_Equity_5" xml:lang="en-US" id="label_Equity_5">Total assets (net of liabilities) allocated by segment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_5" xlink:title="Label : Equity to label_Equity_5" />
    <link:label xlink:type="resource" xlink:label="label_Equity_6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Equity_6" xml:lang="en-US" id="label_Equity_6">Shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Equity" xlink:to="label_Equity_6" xlink:title="Label : Equity to label_Equity_6" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAndLiabilities" xlink:label="EquityAndLiabilities" xlink:title="EquityAndLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAndLiabilities" xml:lang="en-US" id="label_EquityAndLiabilities">Equity and liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_EquityAndLiabilities" xlink:title="Label : EquityAndLiabilities to label_EquityAndLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EquityAndLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EquityAndLiabilities_1" xml:lang="en-US" id="label_EquityAndLiabilities_1">Total shareholders' equity and liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAndLiabilities" xlink:to="label_EquityAndLiabilities_1" xlink:title="Label : EquityAndLiabilities to label_EquityAndLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Revenue" xlink:label="Revenue" xlink:title="Revenue" />
    <link:label xlink:type="resource" xlink:label="label_Revenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Revenue" xml:lang="en-US" id="label_Revenue">Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue" xlink:title="Label : Revenue to label_Revenue" />
    <link:label xlink:type="resource" xlink:label="label_Revenue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Revenue_1" xml:lang="en-US" id="label_Revenue_1">Net sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue_1" xlink:title="Label : Revenue to label_Revenue_1" />
    <link:label xlink:type="resource" xlink:label="label_Revenue_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Revenue_2" xml:lang="en-US" id="label_Revenue_2">Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue_2" xlink:title="Label : Revenue to label_Revenue_2" />
    <link:label xlink:type="resource" xlink:label="label_Revenue_3" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_Revenue_3" xml:lang="en-US" id="label_Revenue_3">Revenue from Major Customer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue_3" xlink:title="Label : Revenue to label_Revenue_3" />
    <link:label xlink:type="resource" xlink:label="label_Revenue_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Revenue_4" xml:lang="en-US" id="label_Revenue_4">Net sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenue" xlink:to="label_Revenue_4" xlink:title="Label : Revenue to label_Revenue_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CostOfSales" xlink:label="CostOfSales" xlink:title="CostOfSales" />
    <link:label xlink:type="resource" xlink:label="label_CostOfSales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfSales" xml:lang="en-US" id="label_CostOfSales">Cost of sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfSales" xlink:to="label_CostOfSales" xlink:title="Label : CostOfSales to label_CostOfSales" />
    <link:label xlink:type="resource" xlink:label="label_CostOfSales_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CostOfSales_1" xml:lang="en-US" id="label_CostOfSales_1">Cost of sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfSales" xlink:to="label_CostOfSales_1" xlink:title="Label : CostOfSales to label_CostOfSales_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit" />
    <link:label xlink:type="resource" xlink:label="label_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossProfit" xml:lang="en-US" id="label_GrossProfit">Gross profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="label_GrossProfit" xlink:title="Label : GrossProfit to label_GrossProfit" />
    <link:label xlink:type="resource" xlink:label="label_GrossProfit_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_GrossProfit_1" xml:lang="en-US" id="label_GrossProfit_1">Gross profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="label_GrossProfit_1" xlink:title="Label : GrossProfit to label_GrossProfit_1" />
    <link:label xlink:type="resource" xlink:label="label_GrossProfit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrossProfit_2" xml:lang="en-US" id="label_GrossProfit_2">Gross profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="label_GrossProfit_2" xlink:title="Label : GrossProfit to label_GrossProfit_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SellingExpenses" xlink:label="SellingExpenses" xlink:title="SellingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SellingExpenses" xml:lang="en-US" id="label_SellingExpenses">Selling Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpenses" xlink:to="label_SellingExpenses" xlink:title="Label : SellingExpenses to label_SellingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpenses_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_SellingExpenses_1" xml:lang="en-US" id="label_SellingExpenses_1">Selling expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpenses" xlink:to="label_SellingExpenses_1" xlink:title="Label : SellingExpenses to label_SellingExpenses_1" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpenses_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SellingExpenses_2" xml:lang="en-US" id="label_SellingExpenses_2">Selling expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpenses" xlink:to="label_SellingExpenses_2" xlink:title="Label : SellingExpenses to label_SellingExpenses_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GeneralAndAdministrativeExpenses" xlink:label="GeneralAndAdministrativeExpenses" xlink:title="GeneralAndAdministrativeExpenses" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeneralAndAdministrativeExpenses" xml:lang="en-US" id="label_GeneralAndAdministrativeExpenses">General And Administrative Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpenses" xlink:to="label_GeneralAndAdministrativeExpenses" xlink:title="Label : GeneralAndAdministrativeExpenses to label_GeneralAndAdministrativeExpenses" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpenses_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_GeneralAndAdministrativeExpenses_1" xml:lang="en-US" id="label_GeneralAndAdministrativeExpenses_1">General and administrative expenses</link:label>
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    <link:label xlink:type="resource" xlink:label="label_FinanceIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceIncome" xml:lang="en-US" id="label_FinanceIncome">Finance income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncome" xlink:to="label_FinanceIncome" xlink:title="Label : FinanceIncome to label_FinanceIncome" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinanceIncome_1" xml:lang="en-US" id="label_FinanceIncome_1">Finance income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncome" xlink:to="label_FinanceIncome_1" xlink:title="Label : FinanceIncome to label_FinanceIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:label="GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:title="GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xml:lang="en-US" id="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax">Gains (losses) on exchange differences on translation, before tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:title="Label : GainsLossesOnExchangeDifferencesOnTranslationBeforeTax to label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_1" xml:lang="en-US" id="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_1">Foreign exchange, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_1" xlink:title="Label : GainsLossesOnExchangeDifferencesOnTranslationBeforeTax to label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_2" xml:lang="en-US" id="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_2">Foreign exchange, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_2" xlink:title="Label : GainsLossesOnExchangeDifferencesOnTranslationBeforeTax to label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_2" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_3" xml:lang="en-US" id="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_3">Foreign exchange, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_3" xlink:title="Label : GainsLossesOnExchangeDifferencesOnTranslationBeforeTax to label_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="GainsLossesOnChangeInFairValueOfDerivatives" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnChangeInFairValueOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GainsLossesOnChangeInFairValueOfDerivatives" xml:lang="en-US" id="label_GainsLossesOnChangeInFairValueOfDerivatives">Net effect of derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_GainsLossesOnChangeInFairValueOfDerivatives" xlink:title="Label : GainsLossesOnChangeInFairValueOfDerivatives to label_GainsLossesOnChangeInFairValueOfDerivatives" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnChangeInFairValueOfDerivatives_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnChangeInFairValueOfDerivatives_1" xml:lang="en-US" id="label_GainsLossesOnChangeInFairValueOfDerivatives_1">Gains (losses) on change in fair value of derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_GainsLossesOnChangeInFairValueOfDerivatives_1" xlink:title="Label : GainsLossesOnChangeInFairValueOfDerivatives to label_GainsLossesOnChangeInFairValueOfDerivatives_1" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnChangeInFairValueOfDerivatives_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnChangeInFairValueOfDerivatives_2" xml:lang="en-US" id="label_GainsLossesOnChangeInFairValueOfDerivatives_2">Derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_GainsLossesOnChangeInFairValueOfDerivatives_2" xlink:title="Label : GainsLossesOnChangeInFairValueOfDerivatives to label_GainsLossesOnChangeInFairValueOfDerivatives_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinanceIncomeCost" xlink:label="FinanceIncomeCost" xlink:title="FinanceIncomeCost" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceIncomeCost" xml:lang="en-US" id="label_FinanceIncomeCost">Finance income (cost)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCost" xlink:to="label_FinanceIncomeCost" xlink:title="Label : FinanceIncomeCost to label_FinanceIncomeCost" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCost_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FinanceIncomeCost_1" xml:lang="en-US" id="label_FinanceIncomeCost_1">Finance results, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCost" xlink:to="label_FinanceIncomeCost_1" xlink:title="Label : FinanceIncomeCost to label_FinanceIncomeCost_1" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCost_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinanceIncomeCost_2" xml:lang="en-US" id="label_FinanceIncomeCost_2">Finance results, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCost" xlink:to="label_FinanceIncomeCost_2" xlink:title="Label : FinanceIncomeCost to label_FinanceIncomeCost_2" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCost_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_FinanceIncomeCost_3" xml:lang="en-US" id="label_FinanceIncomeCost_3">Finance results, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCost" xlink:to="label_FinanceIncomeCost_3" xlink:title="Label : FinanceIncomeCost to label_FinanceIncomeCost_3" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCost_4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinanceIncomeCost_4" xml:lang="en-US" id="label_FinanceIncomeCost_4">Finance results, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCost" xlink:to="label_FinanceIncomeCost_4" xlink:title="Label : FinanceIncomeCost to label_FinanceIncomeCost_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ProfitLossBeforeTax" xlink:title="ProfitLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossBeforeTax" xml:lang="en-US" id="label_ProfitLossBeforeTax">Profit (loss) before tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ProfitLossBeforeTax_1" xml:lang="en-US" id="label_ProfitLossBeforeTax_1">Profit before income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax_1" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossBeforeTax_2" xml:lang="en-US" id="label_ProfitLossBeforeTax_2">Profit before taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax_2" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:title="MajorComponentsOfTaxExpenseIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorComponentsOfTaxExpenseIncomeAbstract" xml:lang="en-US" id="label_MajorComponentsOfTaxExpenseIncomeAbstract">Major components of tax expense (income) [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="label_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:title="Label : MajorComponentsOfTaxExpenseIncomeAbstract to label_MajorComponentsOfTaxExpenseIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_MajorComponentsOfTaxExpenseIncomeAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorComponentsOfTaxExpenseIncomeAbstract_1" xml:lang="en-US" id="label_MajorComponentsOfTaxExpenseIncomeAbstract_1">Income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="label_MajorComponentsOfTaxExpenseIncomeAbstract_1" xlink:title="Label : MajorComponentsOfTaxExpenseIncomeAbstract to label_MajorComponentsOfTaxExpenseIncomeAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="CurrentTaxExpenseIncome" xlink:title="CurrentTaxExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentTaxExpenseIncome" xml:lang="en-US" id="label_CurrentTaxExpenseIncome">Current tax expense (income)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxExpenseIncome" xlink:to="label_CurrentTaxExpenseIncome" xlink:title="Label : CurrentTaxExpenseIncome to label_CurrentTaxExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_CurrentTaxExpenseIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentTaxExpenseIncome_1" xml:lang="en-US" id="label_CurrentTaxExpenseIncome_1">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentTaxExpenseIncome" xlink:to="label_CurrentTaxExpenseIncome_1" xlink:title="Label : CurrentTaxExpenseIncome to label_CurrentTaxExpenseIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="DeferredTaxExpenseIncome" xlink:title="DeferredTaxExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxExpenseIncome" xml:lang="en-US" id="label_DeferredTaxExpenseIncome">Deferred tax expense (income)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxExpenseIncome" xlink:to="label_DeferredTaxExpenseIncome" xlink:title="Label : DeferredTaxExpenseIncome to label_DeferredTaxExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxExpenseIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxExpenseIncome_1" xml:lang="en-US" id="label_DeferredTaxExpenseIncome_1">Deferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxExpenseIncome" xlink:to="label_DeferredTaxExpenseIncome_1" xlink:title="Label : DeferredTaxExpenseIncome to label_DeferredTaxExpenseIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="IncomeTaxExpenseContinuingOperations" xlink:title="IncomeTaxExpenseContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations">Income tax and social contribution benefit (expense) - current and deferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations_1" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_1">Income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_1" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:title="label_IncomeTaxExpenseContinuingOperations_2" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_2">Income tax and social contribution expense - current and deferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_2" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_2" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations_3" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_3">Income tax expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_3" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_3" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations_4" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_4">Income tax (expense) benefit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_4" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_4" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations_5" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_5">Income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_5" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_5" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_6" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_IncomeTaxExpenseContinuingOperations_6" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_6">Income Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_6" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_6" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxExpenseContinuingOperations_7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxExpenseContinuingOperations_7" xml:lang="en-US" id="label_IncomeTaxExpenseContinuingOperations_7">Tax expense (income)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxExpenseContinuingOperations" xlink:to="label_IncomeTaxExpenseContinuingOperations_7" xlink:title="Label : IncomeTaxExpenseContinuingOperations to label_IncomeTaxExpenseContinuingOperations_7" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ProfitLossFromContinuingOperations" xlink:title="ProfitLossFromContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossFromContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossFromContinuingOperations" xml:lang="en-US" id="label_ProfitLossFromContinuingOperations">Profit (loss) from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromContinuingOperations" xlink:to="label_ProfitLossFromContinuingOperations" xlink:title="Label : ProfitLossFromContinuingOperations to label_ProfitLossFromContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossFromContinuingOperations_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLossFromContinuingOperations_1" xml:lang="en-US" id="label_ProfitLossFromContinuingOperations_1">Profit from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossFromContinuingOperations" xlink:to="label_ProfitLossFromContinuingOperations_1" xlink:title="Label : ProfitLossFromContinuingOperations to label_ProfitLossFromContinuingOperations_1" />
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    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_1" xml:lang="en-US" id="label_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_1">Loss on cash flow hedge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:to="label_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_1" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxCashFlowHedges to label_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xlink:label="OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xlink:title="OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xml:lang="en-US" id="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets">Change in fair value of financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xlink:to="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets to label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets_1" xml:lang="en-US" id="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets_1">Other comprehensive income, before tax, available-for-sale financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets" xlink:to="label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets_1" xlink:title="Label : OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets to label_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xml:lang="en-US" id="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax">Items that are or may be reclassified subsequently to profit or loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:title="Label : OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax to label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xml:lang="en-US" id="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1">Other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" xlink:title="Label : OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax to label_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="OtherComprehensiveIncome" xlink:title="OtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherComprehensiveIncome" xml:lang="en-US" id="label_OtherComprehensiveIncome">Total other comprehensive loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncome_1" xml:lang="en-US" id="label_OtherComprehensiveIncome_1">Comprehensive (loss) income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome_1" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherComprehensiveIncome_2" xml:lang="en-US" id="label_OtherComprehensiveIncome_2">Other comprehensive income (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome_2" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome_2" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome_3" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xlink:title="label_OtherComprehensiveIncome_3" xml:lang="en-US" id="label_OtherComprehensiveIncome_3">Other comprehensive (loss) income for the year, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome_3" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome_3" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncome_4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncome_4" xml:lang="en-US" id="label_OtherComprehensiveIncome_4">Other comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncome" xlink:to="label_OtherComprehensiveIncome_4" xlink:title="Label : OtherComprehensiveIncome to label_OtherComprehensiveIncome_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ComprehensiveIncome" xlink:title="ComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncome" xml:lang="en-US" id="label_ComprehensiveIncome">Comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome" xlink:title="Label : ComprehensiveIncome to label_ComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncome_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ComprehensiveIncome_1" xml:lang="en-US" id="label_ComprehensiveIncome_1">Total comprehensive income for the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncome" xlink:to="label_ComprehensiveIncome_1" xlink:title="Label : ComprehensiveIncome to label_ComprehensiveIncome_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ProfitLossAttributableToAbstract" xlink:title="ProfitLossAttributableToAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossAttributableToAbstract" xml:lang="en-US" id="label_ProfitLossAttributableToAbstract">Profit (loss), attributable to [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToAbstract" xlink:to="label_ProfitLossAttributableToAbstract" xlink:title="Label : ProfitLossAttributableToAbstract to label_ProfitLossAttributableToAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToAbstract_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLossAttributableToAbstract_1" xml:lang="en-US" id="label_ProfitLossAttributableToAbstract_1">Profit attributable to:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToAbstract" xlink:to="label_ProfitLossAttributableToAbstract_1" xlink:title="Label : ProfitLossAttributableToAbstract to label_ProfitLossAttributableToAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossAttributableToAbstract_2" xml:lang="en-US" id="label_ProfitLossAttributableToAbstract_2">Profit (loss) attributable to:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToAbstract" xlink:to="label_ProfitLossAttributableToAbstract_2" xlink:title="Label : ProfitLossAttributableToAbstract to label_ProfitLossAttributableToAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ProfitLossAttributableToOwnersOfParent" xlink:title="ProfitLossAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossAttributableToOwnersOfParent" xml:lang="en-US" id="label_ProfitLossAttributableToOwnersOfParent">Profit (loss), attributable to owners of parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOwnersOfParent" xlink:to="label_ProfitLossAttributableToOwnersOfParent" xlink:title="Label : ProfitLossAttributableToOwnersOfParent to label_ProfitLossAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossAttributableToOwnersOfParent_1" xml:lang="en-US" id="label_ProfitLossAttributableToOwnersOfParent_1">Owners of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOwnersOfParent" xlink:to="label_ProfitLossAttributableToOwnersOfParent_1" xlink:title="Label : ProfitLossAttributableToOwnersOfParent to label_ProfitLossAttributableToOwnersOfParent_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToOwnersOfParent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLossAttributableToOwnersOfParent_2" xml:lang="en-US" id="label_ProfitLossAttributableToOwnersOfParent_2">Owners of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToOwnersOfParent" xlink:to="label_ProfitLossAttributableToOwnersOfParent_2" xlink:title="Label : ProfitLossAttributableToOwnersOfParent to label_ProfitLossAttributableToOwnersOfParent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ProfitLossAttributableToNoncontrollingInterests" xlink:title="ProfitLossAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossAttributableToNoncontrollingInterests" xml:lang="en-US" id="label_ProfitLossAttributableToNoncontrollingInterests">Profit (loss), attributable to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossAttributableToNoncontrollingInterests" xlink:title="Label : ProfitLossAttributableToNoncontrollingInterests to label_ProfitLossAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossAttributableToNoncontrollingInterests_1" xml:lang="en-US" id="label_ProfitLossAttributableToNoncontrollingInterests_1">Non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossAttributableToNoncontrollingInterests_1" xlink:title="Label : ProfitLossAttributableToNoncontrollingInterests to label_ProfitLossAttributableToNoncontrollingInterests_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossAttributableToNoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLossAttributableToNoncontrollingInterests_2" xml:lang="en-US" id="label_ProfitLossAttributableToNoncontrollingInterests_2">Non-controlling&#xA0;interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossAttributableToNoncontrollingInterests" xlink:to="label_ProfitLossAttributableToNoncontrollingInterests_2" xlink:title="Label : ProfitLossAttributableToNoncontrollingInterests to label_ProfitLossAttributableToNoncontrollingInterests_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ComprehensiveIncomeAttributableToAbstract" xlink:title="ComprehensiveIncomeAttributableToAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeAttributableToAbstract" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToAbstract">Comprehensive income attributable to [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToAbstract" xlink:to="label_ComprehensiveIncomeAttributableToAbstract" xlink:title="Label : ComprehensiveIncomeAttributableToAbstract to label_ComprehensiveIncomeAttributableToAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComprehensiveIncomeAttributableToAbstract_1" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToAbstract_1">Total comprehensive income attributable to:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToAbstract" xlink:to="label_ComprehensiveIncomeAttributableToAbstract_1" xlink:title="Label : ComprehensiveIncomeAttributableToAbstract to label_ComprehensiveIncomeAttributableToAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ComprehensiveIncomeAttributableToOwnersOfParent" xlink:title="ComprehensiveIncomeAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeAttributableToOwnersOfParent" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToOwnersOfParent">Comprehensive income, attributable to owners of parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="label_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:title="Label : ComprehensiveIncomeAttributableToOwnersOfParent to label_ComprehensiveIncomeAttributableToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComprehensiveIncomeAttributableToOwnersOfParent_1" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToOwnersOfParent_1">Owners of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="label_ComprehensiveIncomeAttributableToOwnersOfParent_1" xlink:title="Label : ComprehensiveIncomeAttributableToOwnersOfParent to label_ComprehensiveIncomeAttributableToOwnersOfParent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:title="ComprehensiveIncomeAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComprehensiveIncomeAttributableToNoncontrollingInterests" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToNoncontrollingInterests">Comprehensive income, attributable to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="label_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:title="Label : ComprehensiveIncomeAttributableToNoncontrollingInterests to label_ComprehensiveIncomeAttributableToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1">Non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" xlink:title="Label : ComprehensiveIncomeAttributableToNoncontrollingInterests to label_ComprehensiveIncomeAttributableToNoncontrollingInterests_1" />
    <link:label xlink:type="resource" xlink:label="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_2" xml:lang="en-US" id="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_2">Comprehensive income attributable to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="label_ComprehensiveIncomeAttributableToNoncontrollingInterests_2" xlink:title="Label : ComprehensiveIncomeAttributableToNoncontrollingInterests to label_ComprehensiveIncomeAttributableToNoncontrollingInterests_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract" xlink:title="Label : EarningsPerShareAbstract to label_EarningsPerShareAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="label_EarningsPerShareAbstract_1" xlink:title="Label : EarningsPerShareAbstract to label_EarningsPerShareAbstract_1" />
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    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShare_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BasicEarningsLossPerShare_1" xml:lang="en-US" id="label_BasicEarningsLossPerShare_1">Basic</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="DilutedEarningsLossPerShare" xlink:title="DilutedEarningsLossPerShare" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare" xlink:title="Label : DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShare_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DilutedEarningsLossPerShare_1" xml:lang="en-US" id="label_DilutedEarningsLossPerShare_1">Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare_1" xlink:title="Label : DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:label="BasicEarningsLossPerShareFromContinuingOperations" xlink:title="BasicEarningsLossPerShareFromContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShareFromContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasicEarningsLossPerShareFromContinuingOperations" xml:lang="en-US" id="label_BasicEarningsLossPerShareFromContinuingOperations">Basic earnings (loss) per share from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShareFromContinuingOperations" xlink:to="label_BasicEarningsLossPerShareFromContinuingOperations" xlink:title="Label : BasicEarningsLossPerShareFromContinuingOperations to label_BasicEarningsLossPerShareFromContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShareFromContinuingOperations_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BasicEarningsLossPerShareFromContinuingOperations_1" xml:lang="en-US" id="label_BasicEarningsLossPerShareFromContinuingOperations_1">Basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShareFromContinuingOperations" xlink:to="label_BasicEarningsLossPerShareFromContinuingOperations_1" xlink:title="Label : BasicEarningsLossPerShareFromContinuingOperations to label_BasicEarningsLossPerShareFromContinuingOperations_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:label="DilutedEarningsLossPerShareFromContinuingOperations" xlink:title="DilutedEarningsLossPerShareFromContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShareFromContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DilutedEarningsLossPerShareFromContinuingOperations" xml:lang="en-US" id="label_DilutedEarningsLossPerShareFromContinuingOperations">Diluted earnings (loss) per share from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="label_DilutedEarningsLossPerShareFromContinuingOperations" xlink:title="Label : DilutedEarningsLossPerShareFromContinuingOperations to label_DilutedEarningsLossPerShareFromContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShareFromContinuingOperations_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutedEarningsLossPerShareFromContinuingOperations_1" xml:lang="en-US" id="label_DilutedEarningsLossPerShareFromContinuingOperations_1">Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="label_DilutedEarningsLossPerShareFromContinuingOperations_1" xlink:title="Label : DilutedEarningsLossPerShareFromContinuingOperations to label_DilutedEarningsLossPerShareFromContinuingOperations_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="StatementOfChangesInEquityAbstract" xlink:title="StatementOfChangesInEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityAbstract" xml:lang="en-US" id="label_StatementOfChangesInEquityAbstract">Statement of changes in equity [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityAbstract" xlink:to="label_StatementOfChangesInEquityAbstract" xlink:title="Label : StatementOfChangesInEquityAbstract to label_StatementOfChangesInEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="StatementOfChangesInEquityTable" xlink:title="StatementOfChangesInEquityTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfChangesInEquityTable" xml:lang="en-US" id="label_StatementOfChangesInEquityTable">Statement of changes in equity [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityTable" xlink:to="label_StatementOfChangesInEquityTable" xlink:title="Label : StatementOfChangesInEquityTable to label_StatementOfChangesInEquityTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfChangesInEquityTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementOfChangesInEquityTable_1" xml:lang="en-US" id="label_StatementOfChangesInEquityTable_1">Statement of changes in equity [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfChangesInEquityTable" xlink:to="label_StatementOfChangesInEquityTable_1" xlink:title="Label : StatementOfChangesInEquityTable to label_StatementOfChangesInEquityTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ComponentsOfEquityAxis" xlink:title="ComponentsOfEquityAxis" />
    <link:label xlink:type="resource" xlink:label="label_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComponentsOfEquityAxis" xml:lang="en-US" id="label_ComponentsOfEquityAxis">Components of equity [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfEquityAxis" xlink:to="label_ComponentsOfEquityAxis" xlink:title="Label : ComponentsOfEquityAxis to label_ComponentsOfEquityAxis" />
    <link:label xlink:type="resource" xlink:label="label_ComponentsOfEquityAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComponentsOfEquityAxis_1" xml:lang="en-US" id="label_ComponentsOfEquityAxis_1">Components of equity [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComponentsOfEquityAxis" xlink:to="label_ComponentsOfEquityAxis_1" xlink:title="Label : ComponentsOfEquityAxis to label_ComponentsOfEquityAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityMember" xlink:label="EquityMember" xlink:title="EquityMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityMember" xml:lang="en-US" id="label_EquityMember">Equity [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMember" xlink:to="label_EquityMember" xlink:title="Label : EquityMember to label_EquityMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityMember_1" xml:lang="en-US" id="label_EquityMember_1">Equity [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMember" xlink:to="label_EquityMember_1" xlink:title="Label : EquityMember to label_EquityMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssuedCapitalMember" xlink:label="IssuedCapitalMember" xlink:title="IssuedCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuedCapitalMember" xml:lang="en-US" id="label_IssuedCapitalMember">Issued capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember" xlink:title="Label : IssuedCapitalMember to label_IssuedCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapitalMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuedCapitalMember_1" xml:lang="en-US" id="label_IssuedCapitalMember_1">Share capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalMember" xlink:to="label_IssuedCapitalMember_1" xlink:title="Label : IssuedCapitalMember to label_IssuedCapitalMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:label="AccumulatedOtherComprehensiveIncomeMember" xlink:title="AccumulatedOtherComprehensiveIncomeMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember">Accumulated other comprehensive income [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="label_AccumulatedOtherComprehensiveIncomeMember" xlink:title="Label : AccumulatedOtherComprehensiveIncomeMember to label_AccumulatedOtherComprehensiveIncomeMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember_1" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember_1">Accumulated other comprehensive income [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="label_AccumulatedOtherComprehensiveIncomeMember_1" xlink:title="Label : AccumulatedOtherComprehensiveIncomeMember to label_AccumulatedOtherComprehensiveIncomeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember_2" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember_2">Attributable to Owners of the Company [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeMember" xlink:to="label_AccumulatedOtherComprehensiveIncomeMember_2" xlink:title="Label : AccumulatedOtherComprehensiveIncomeMember to label_AccumulatedOtherComprehensiveIncomeMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsMember" xml:lang="en-US" id="label_RetainedEarningsMember">Retained earnings [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember" xlink:title="Label : RetainedEarningsMember to label_RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarningsMember_1" xml:lang="en-US" id="label_RetainedEarningsMember_1">Retained earnings [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="label_RetainedEarningsMember_1" xlink:title="Label : RetainedEarningsMember to label_RetainedEarningsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="EquityAttributableToOwnersOfParentMember" xlink:title="EquityAttributableToOwnersOfParentMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityAttributableToOwnersOfParentMember" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParentMember">Equity attributable to owners of parent [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="label_EquityAttributableToOwnersOfParentMember" xlink:title="Label : EquityAttributableToOwnersOfParentMember to label_EquityAttributableToOwnersOfParentMember" />
    <link:label xlink:type="resource" xlink:label="label_EquityAttributableToOwnersOfParentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityAttributableToOwnersOfParentMember_1" xml:lang="en-US" id="label_EquityAttributableToOwnersOfParentMember_1">Equity attributable to owners of the company [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAttributableToOwnersOfParentMember" xlink:to="label_EquityAttributableToOwnersOfParentMember_1" xlink:title="Label : EquityAttributableToOwnersOfParentMember to label_EquityAttributableToOwnersOfParentMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="NoncontrollingInterestsMember" xlink:title="NoncontrollingInterestsMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterestsMember" xml:lang="en-US" id="label_NoncontrollingInterestsMember">Non-controlling interests [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsMember" xlink:to="label_NoncontrollingInterestsMember" xlink:title="Label : NoncontrollingInterestsMember to label_NoncontrollingInterestsMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterestsMember_1" xml:lang="en-US" id="label_NoncontrollingInterestsMember_1">Non-controlling interest [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsMember" xlink:to="label_NoncontrollingInterestsMember_1" xlink:title="Label : NoncontrollingInterestsMember to label_NoncontrollingInterestsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:label="RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:title="RetrospectiveApplicationAndRetrospectiveRestatementAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="label_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:title="Label : RetrospectiveApplicationAndRetrospectiveRestatementAxis to label_RetrospectiveApplicationAndRetrospectiveRestatementAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="label_RetrospectiveApplicationAndRetrospectiveRestatementAxis_1" xlink:title="Label : RetrospectiveApplicationAndRetrospectiveRestatementAxis to label_RetrospectiveApplicationAndRetrospectiveRestatementAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RestatedMember" xlink:label="RestatedMember" xlink:title="RestatedMember" />
    <link:label xlink:type="resource" xlink:label="label_RestatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestatedMember" xml:lang="en-US" id="label_RestatedMember">Currently stated [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestatedMember" xlink:to="label_RestatedMember" xlink:title="Label : RestatedMember to label_RestatedMember" />
    <link:label xlink:type="resource" xlink:label="label_RestatedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestatedMember_1" xml:lang="en-US" id="label_RestatedMember_1">Restated [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestatedMember" xlink:to="label_RestatedMember_1" xlink:title="Label : RestatedMember to label_RestatedMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PreviouslyStatedMember" xlink:label="PreviouslyStatedMember" xlink:title="PreviouslyStatedMember" />
    <link:label xlink:type="resource" xlink:label="label_PreviouslyStatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreviouslyStatedMember" xml:lang="en-US" id="label_PreviouslyStatedMember">Previously stated [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreviouslyStatedMember" xlink:to="label_PreviouslyStatedMember" xlink:title="Label : PreviouslyStatedMember to label_PreviouslyStatedMember" />
    <link:label xlink:type="resource" xlink:label="label_PreviouslyStatedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreviouslyStatedMember_1" xml:lang="en-US" id="label_PreviouslyStatedMember_1">As issued [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreviouslyStatedMember" xlink:to="label_PreviouslyStatedMember_1" xlink:title="Label : PreviouslyStatedMember to label_PreviouslyStatedMember_1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:title="OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:title="OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:label="OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" xlink:title="OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ComprehensiveIncomeFromContinuingOperation" xlink:label="ComprehensiveIncomeFromContinuingOperation" xlink:title="ComprehensiveIncomeFromContinuingOperation" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContributionsByAndDistributionsToOwnersOfParentAbstract" xlink:label="ContributionsByAndDistributionsToOwnersOfParentAbstract" xlink:title="ContributionsByAndDistributionsToOwnersOfParentAbstract" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" xlink:label="IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" xlink:title="IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:to="label_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:title="Label : DividendsRecognisedAsDistributionsToNoncontrollingInterests to label_DividendsRecognisedAsDistributionsToNoncontrollingInterests" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughExerciseOfOptions" xlink:label="IncreaseDecreaseThroughExerciseOfOptions" xlink:title="IncreaseDecreaseThroughExerciseOfOptions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughExerciseOfOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughExerciseOfOptions" xml:lang="en-US" id="label_IncreaseDecreaseThroughExerciseOfOptions">Share options exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughExerciseOfOptions" xlink:to="label_IncreaseDecreaseThroughExerciseOfOptions" xlink:title="Label : IncreaseDecreaseThroughExerciseOfOptions to label_IncreaseDecreaseThroughExerciseOfOptions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughExerciseOfOptions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughExerciseOfOptions_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughExerciseOfOptions_1">Increase (decrease) through exercise of options, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughExerciseOfOptions" xlink:to="label_IncreaseDecreaseThroughExerciseOfOptions_1" xlink:title="Label : IncreaseDecreaseThroughExerciseOfOptions to label_IncreaseDecreaseThroughExerciseOfOptions_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommonStockDividendsDeclared" xlink:label="CommonStockDividendsDeclared" xlink:title="CommonStockDividendsDeclared" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsDeclared" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommonStockDividendsDeclared" xml:lang="en-US" id="label_CommonStockDividendsDeclared">Common stock dividends declared.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsDeclared" xlink:to="label_CommonStockDividendsDeclared" xlink:title="Label : CommonStockDividendsDeclared to label_CommonStockDividendsDeclared" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsDeclared_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockDividendsDeclared_1" xml:lang="en-US" id="label_CommonStockDividendsDeclared_1">Prescribed dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsDeclared" xlink:to="label_CommonStockDividendsDeclared_1" xlink:title="Label : CommonStockDividendsDeclared to label_CommonStockDividendsDeclared_1" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockDividendsDeclared_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockDividendsDeclared_2" xml:lang="en-US" id="label_CommonStockDividendsDeclared_2">Common Stock Dividends Declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsDeclared" xlink:to="label_CommonStockDividendsDeclared_2" xlink:title="Label : CommonStockDividendsDeclared to label_CommonStockDividendsDeclared_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PurchaseOfTreasuryShares" xlink:label="PurchaseOfTreasuryShares" xlink:title="PurchaseOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfTreasuryShares" xml:lang="en-US" id="label_PurchaseOfTreasuryShares">Purchase of treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfTreasuryShares" xlink:to="label_PurchaseOfTreasuryShares" xlink:title="Label : PurchaseOfTreasuryShares to label_PurchaseOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfTreasuryShares_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchaseOfTreasuryShares_1" xml:lang="en-US" id="label_PurchaseOfTreasuryShares_1">Treasury shares acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfTreasuryShares" xlink:to="label_PurchaseOfTreasuryShares_1" xlink:title="Label : PurchaseOfTreasuryShares to label_PurchaseOfTreasuryShares_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughInBusinessCombinations" xlink:label="IncreaseDecreaseThroughInBusinessCombinations" xlink:title="IncreaseDecreaseThroughInBusinessCombinations" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInBusinessCombinations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughInBusinessCombinations" xml:lang="en-US" id="label_IncreaseDecreaseThroughInBusinessCombinations">Increase (decrease) through in business combinations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInBusinessCombinations" xlink:to="label_IncreaseDecreaseThroughInBusinessCombinations" xlink:title="Label : IncreaseDecreaseThroughInBusinessCombinations to label_IncreaseDecreaseThroughInBusinessCombinations" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInBusinessCombinations_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughInBusinessCombinations_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughInBusinessCombinations_1">Business Combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInBusinessCombinations" xlink:to="label_IncreaseDecreaseThroughInBusinessCombinations_1" xlink:title="Label : IncreaseDecreaseThroughInBusinessCombinations to label_IncreaseDecreaseThroughInBusinessCombinations_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInBusinessCombinations_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughInBusinessCombinations_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughInBusinessCombinations_2">Increase (decrease) through in business combinations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInBusinessCombinations" xlink:to="label_IncreaseDecreaseThroughInBusinessCombinations_2" xlink:title="Label : IncreaseDecreaseThroughInBusinessCombinations to label_IncreaseDecreaseThroughInBusinessCombinations_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DividendsPaid" xlink:label="DividendsPaid" xlink:title="DividendsPaid" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaid" xml:lang="en-US" id="label_DividendsPaid">Dividends recognised as distributions to owners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid" xlink:title="Label : DividendsPaid to label_DividendsPaid" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaid_1" xml:lang="en-US" id="label_DividendsPaid_1">Dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_1" xlink:title="Label : DividendsPaid to label_DividendsPaid_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DividendsPaid_2" xml:lang="en-US" id="label_DividendsPaid_2">Dividends paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_2" xlink:title="Label : DividendsPaid to label_DividendsPaid_2" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaid_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPaid_3" xml:lang="en-US" id="label_DividendsPaid_3">Dividend paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaid" xlink:to="label_DividendsPaid_3" xlink:title="Label : DividendsPaid to label_DividendsPaid_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="IncreaseDecreaseThroughSharebasedPaymentTransactions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xml:lang="en-US" id="label_IncreaseDecreaseThroughSharebasedPaymentTransactions">Increase (decrease) through share-based payment transactions, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:title="Label : IncreaseDecreaseThroughSharebasedPaymentTransactions to label_IncreaseDecreaseThroughSharebasedPaymentTransactions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_1">Share-based payment transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="label_IncreaseDecreaseThroughSharebasedPaymentTransactions_1" xlink:title="Label : IncreaseDecreaseThroughSharebasedPaymentTransactions to label_IncreaseDecreaseThroughSharebasedPaymentTransactions_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContributionsByAndDistributionsToOwnersOfParent" xlink:label="ContributionsByAndDistributionsToOwnersOfParent" xlink:title="ContributionsByAndDistributionsToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ContributionsByAndDistributionsToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContributionsByAndDistributionsToOwnersOfParent" xml:lang="en-US" id="label_ContributionsByAndDistributionsToOwnersOfParent">Contributions by and distributions to owners of parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionsByAndDistributionsToOwnersOfParent" xlink:to="label_ContributionsByAndDistributionsToOwnersOfParent" xlink:title="Label : ContributionsByAndDistributionsToOwnersOfParent to label_ContributionsByAndDistributionsToOwnersOfParent" />
    <link:label xlink:type="resource" xlink:label="label_ContributionsByAndDistributionsToOwnersOfParent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ContributionsByAndDistributionsToOwnersOfParent_1" xml:lang="en-US" id="label_ContributionsByAndDistributionsToOwnersOfParent_1">Total contributions and distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionsByAndDistributionsToOwnersOfParent" xlink:to="label_ContributionsByAndDistributionsToOwnersOfParent_1" xlink:title="Label : ContributionsByAndDistributionsToOwnersOfParent to label_ContributionsByAndDistributionsToOwnersOfParent_1" />
    <link:label xlink:type="resource" xlink:label="label_ContributionsByAndDistributionsToOwnersOfParent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContributionsByAndDistributionsToOwnersOfParent_2" xml:lang="en-US" id="label_ContributionsByAndDistributionsToOwnersOfParent_2">Contributions by and distributions to owners of parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionsByAndDistributionsToOwnersOfParent" xlink:to="label_ContributionsByAndDistributionsToOwnersOfParent_2" xlink:title="Label : ContributionsByAndDistributionsToOwnersOfParent to label_ContributionsByAndDistributionsToOwnersOfParent_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TransactionsWithOwnersOfParentAbstract" xlink:label="TransactionsWithOwnersOfParentAbstract" xlink:title="TransactionsWithOwnersOfParentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TransactionsWithOwnersOfParentAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TransactionsWithOwnersOfParentAbstract" xml:lang="en-US" id="label_TransactionsWithOwnersOfParentAbstract">Transactions with owners of parent [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransactionsWithOwnersOfParentAbstract" xlink:to="label_TransactionsWithOwnersOfParentAbstract" xlink:title="Label : TransactionsWithOwnersOfParentAbstract to label_TransactionsWithOwnersOfParentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TransactionsWithOwnersOfParentAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TransactionsWithOwnersOfParentAbstract_1" xml:lang="en-US" id="label_TransactionsWithOwnersOfParentAbstract_1">Changes in ownership interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransactionsWithOwnersOfParentAbstract" xlink:to="label_TransactionsWithOwnersOfParentAbstract_1" xlink:title="Label : TransactionsWithOwnersOfParentAbstract to label_TransactionsWithOwnersOfParentAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_TransactionsWithOwnersOfParentAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TransactionsWithOwnersOfParentAbstract_2" xml:lang="en-US" id="label_TransactionsWithOwnersOfParentAbstract_2">Transactions with owners of parent [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransactionsWithOwnersOfParentAbstract" xlink:to="label_TransactionsWithOwnersOfParentAbstract_2" xlink:title="Label : TransactionsWithOwnersOfParentAbstract to label_TransactionsWithOwnersOfParentAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:label="IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:title="IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xml:lang="en-US" id="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries">Increase (decrease) through change in equity of subsidiaries, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:to="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:title="Label : IncreaseDecreaseThroughChangeInEquityOfSubsidiaries to label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_1">Change of shareholding interest in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:to="label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_1" xlink:title="Label : IncreaseDecreaseThroughChangeInEquityOfSubsidiaries to label_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:label="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:title="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xml:lang="en-US" id="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:to="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:title="Label : IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl to label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1">Total changes in ownership interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:to="label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" xlink:title="Label : IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl to label_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:label="IncreaseDecreaseThroughTransactionsWithOwners" xlink:title="IncreaseDecreaseThroughTransactionsWithOwners" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransactionsWithOwners" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_IncreaseDecreaseThroughTransactionsWithOwners" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransactionsWithOwners">Total transactions with owners of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransactionsWithOwners" xlink:to="label_IncreaseDecreaseThroughTransactionsWithOwners" xlink:title="Label : IncreaseDecreaseThroughTransactionsWithOwners to label_IncreaseDecreaseThroughTransactionsWithOwners" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransactionsWithOwners_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughTransactionsWithOwners_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransactionsWithOwners_1">Increase (decrease) through transactions with owners, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransactionsWithOwners" xlink:to="label_IncreaseDecreaseThroughTransactionsWithOwners_1" xlink:title="Label : IncreaseDecreaseThroughTransactionsWithOwners to label_IncreaseDecreaseThroughTransactionsWithOwners_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransactionsWithOwners_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughTransactionsWithOwners_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransactionsWithOwners_2">Interest in earnings (losses) of associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransactionsWithOwners" xlink:to="label_IncreaseDecreaseThroughTransactionsWithOwners_2" xlink:title="Label : IncreaseDecreaseThroughTransactionsWithOwners to label_IncreaseDecreaseThroughTransactionsWithOwners_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfCashFlowsAbstract" xml:lang="en-US" id="label_StatementOfCashFlowsAbstract">Statement of cash flows [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="label_StatementOfCashFlowsAbstract" xlink:title="Label : StatementOfCashFlowsAbstract to label_StatementOfCashFlowsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="CashFlowsFromUsedInOperatingActivitiesAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:title="Label : CashFlowsFromUsedInOperatingActivitiesAbstract to label_CashFlowsFromUsedInOperatingActivitiesAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="label_CashFlowsFromUsedInOperatingActivitiesAbstract_1" xlink:title="Label : CashFlowsFromUsedInOperatingActivitiesAbstract to label_CashFlowsFromUsedInOperatingActivitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="AdjustmentsForReconcileProfitLossAbstract" xlink:title="AdjustmentsForReconcileProfitLossAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="label_AdjustmentsForReconcileProfitLossAbstract" xlink:title="Label : AdjustmentsForReconcileProfitLossAbstract to label_AdjustmentsForReconcileProfitLossAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForReconcileProfitLossAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForReconcileProfitLossAbstract_1" xml:lang="en-US" id="label_AdjustmentsForReconcileProfitLossAbstract_1">Adjustments for:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForReconcileProfitLossAbstract" xlink:to="label_AdjustmentsForReconcileProfitLossAbstract_1" xlink:title="Label : AdjustmentsForReconcileProfitLossAbstract to label_AdjustmentsForReconcileProfitLossAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:label="AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:title="AdjustmentsForDepreciationAmortizationAndImpairmentExpense" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xml:lang="en-US" id="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense">Adjustments for depreciation amortization and impairment expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:to="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:title="Label : AdjustmentsForDepreciationAmortizationAndImpairmentExpense to label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_1" xml:lang="en-US" id="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_1">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:to="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_1" xlink:title="Label : AdjustmentsForDepreciationAmortizationAndImpairmentExpense to label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_2" xml:lang="en-US" id="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_2">Adjustments for depreciation, amortization and impairment expense,</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDepreciationAmortizationAndImpairmentExpense" xlink:to="label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_2" xlink:title="Label : AdjustmentsForDepreciationAmortizationAndImpairmentExpense to label_AdjustmentsForDepreciationAmortizationAndImpairmentExpense_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:label="AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:title="AdjustmentsForProvisionReversalOfLeaseAndConcession" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForProvisionReversalOfLeaseAndConcession" xml:lang="en-US" id="label_AdjustmentsForProvisionReversalOfLeaseAndConcession">Adjustments for Provision Reversal of Lease and Concession</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:to="label_AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:title="Label : AdjustmentsForProvisionReversalOfLeaseAndConcession to label_AdjustmentsForProvisionReversalOfLeaseAndConcession" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_1" xml:lang="en-US" id="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_1">Adjustments for provision (reversal of provision) of lease and concession to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:to="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_1" xlink:title="Label : AdjustmentsForProvisionReversalOfLeaseAndConcession to label_AdjustmentsForProvisionReversalOfLeaseAndConcession_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_2" xml:lang="en-US" id="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_2">Lease and concession (reversal) provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisionReversalOfLeaseAndConcession" xlink:to="label_AdjustmentsForProvisionReversalOfLeaseAndConcession_2" xlink:title="Label : AdjustmentsForProvisionReversalOfLeaseAndConcession to label_AdjustmentsForProvisionReversalOfLeaseAndConcession_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:label="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:title="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xml:lang="en-US" id="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment">(Gain) loss on disposed assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:title="Label : AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment to label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_1">Adjustments for gain (loss) on disposals, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_1" xlink:title="Label : AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment to label_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="AdjustmentsForSharebasedPayments" xlink:title="AdjustmentsForSharebasedPayments" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSharebasedPayments" xlink:to="label_AdjustmentsForSharebasedPayments" xlink:title="Label : AdjustmentsForSharebasedPayments to label_AdjustmentsForSharebasedPayments" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForSharebasedPayments_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForSharebasedPayments_1" xml:lang="en-US" id="label_AdjustmentsForSharebasedPayments_1">Share-based payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSharebasedPayments" xlink:to="label_AdjustmentsForSharebasedPayments_1" xlink:title="Label : AdjustmentsForSharebasedPayments to label_AdjustmentsForSharebasedPayments_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="AdjustmentsForProvisions" xlink:title="AdjustmentsForProvisions" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisions" xlink:to="label_AdjustmentsForProvisions" xlink:title="Label : AdjustmentsForProvisions to label_AdjustmentsForProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForProvisions_1" xml:lang="en-US" id="label_AdjustmentsForProvisions_1">Legal proceedings provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForProvisions" xlink:to="label_AdjustmentsForProvisions_1" xlink:title="Label : AdjustmentsForProvisions to label_AdjustmentsForProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:label="AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:title="AdjustmentsForIndexationChargesInterestAndExchangeNet" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AdjustmentsForIndexationChargesInterestAndExchangeNet" xml:lang="en-US" id="label_AdjustmentsForIndexationChargesInterestAndExchangeNet">Interest in earnings of joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:to="label_AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:title="Label : AdjustmentsForIndexationChargesInterestAndExchangeNet to label_AdjustmentsForIndexationChargesInterestAndExchangeNet" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_1" xml:lang="en-US" id="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_1">Adjustments for indexation charges interest and exchange net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:to="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_1" xlink:title="Label : AdjustmentsForIndexationChargesInterestAndExchangeNet to label_AdjustmentsForIndexationChargesInterestAndExchangeNet_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_2" xml:lang="en-US" id="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_2">Interest and exchange, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:to="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_2" xlink:title="Label : AdjustmentsForIndexationChargesInterestAndExchangeNet to label_AdjustmentsForIndexationChargesInterestAndExchangeNet_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIndexationChargesInterestAndExchangeNet" xlink:to="label_AdjustmentsForIndexationChargesInterestAndExchangeNet_3" xlink:title="Label : AdjustmentsForIndexationChargesInterestAndExchangeNet to label_AdjustmentsForIndexationChargesInterestAndExchangeNet_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:label="AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:title="AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xml:lang="en-US" id="label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet">Adjustments for Sector Financial Assets and Liabilities Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:to="label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:title="Label : AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet to label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:to="label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet_1" xlink:title="Label : AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet to label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" xlink:to="label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet_2" xlink:title="Label : AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet to label_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForDeferredRevenue" xlink:label="AdjustmentsForDeferredRevenue" xlink:title="AdjustmentsForDeferredRevenue" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDeferredRevenue" xlink:to="label_AdjustmentsForDeferredRevenue" xlink:title="Label : AdjustmentsForDeferredRevenue to label_AdjustmentsForDeferredRevenue" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDeferredRevenue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDeferredRevenue_1" xml:lang="en-US" id="label_AdjustmentsForDeferredRevenue_1">Deferred revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDeferredRevenue" xlink:to="label_AdjustmentsForDeferredRevenue_1" xlink:title="Label : AdjustmentsForDeferredRevenue to label_AdjustmentsForDeferredRevenue_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDeferredRevenue" xlink:to="label_AdjustmentsForDeferredRevenue_2" xlink:title="Label : AdjustmentsForDeferredRevenue to label_AdjustmentsForDeferredRevenue_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForEmployeeBenefitsProvisions" xlink:label="AdjustmentsForEmployeeBenefitsProvisions" xlink:title="AdjustmentsForEmployeeBenefitsProvisions" />
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    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForEmployeeBenefitsProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForEmployeeBenefitsProvisions_1" xml:lang="en-US" id="label_AdjustmentsForEmployeeBenefitsProvisions_1">Provisions for employee benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForEmployeeBenefitsProvisions" xlink:to="label_AdjustmentsForEmployeeBenefitsProvisions_1" xlink:title="Label : AdjustmentsForEmployeeBenefitsProvisions to label_AdjustmentsForEmployeeBenefitsProvisions_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForEmployeeBenefitsProvisions" xlink:to="label_AdjustmentsForEmployeeBenefitsProvisions_2" xlink:title="Label : AdjustmentsForEmployeeBenefitsProvisions to label_AdjustmentsForEmployeeBenefitsProvisions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForAllowanceForDoubtfulAccounts" xlink:label="AdjustmentsForAllowanceForDoubtfulAccounts" xlink:title="AdjustmentsForAllowanceForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForAllowanceForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForAllowanceForDoubtfulAccounts" xml:lang="en-US" id="label_AdjustmentsForAllowanceForDoubtfulAccounts">Adjustments for Allowance for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForAllowanceForDoubtfulAccounts" xlink:to="label_AdjustmentsForAllowanceForDoubtfulAccounts" xlink:title="Label : AdjustmentsForAllowanceForDoubtfulAccounts to label_AdjustmentsForAllowanceForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForAllowanceForDoubtfulAccounts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForAllowanceForDoubtfulAccounts_1" xml:lang="en-US" id="label_AdjustmentsForAllowanceForDoubtfulAccounts_1">Allowance for expected credit losses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForAllowanceForDoubtfulAccounts" xlink:to="label_AdjustmentsForAllowanceForDoubtfulAccounts_1" xlink:title="Label : AdjustmentsForAllowanceForDoubtfulAccounts to label_AdjustmentsForAllowanceForDoubtfulAccounts_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForAllowanceForDoubtfulAccounts_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForAllowanceForDoubtfulAccounts_2" xml:lang="en-US" id="label_AdjustmentsForAllowanceForDoubtfulAccounts_2">Adjustments for Allowance for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForAllowanceForDoubtfulAccounts" xlink:to="label_AdjustmentsForAllowanceForDoubtfulAccounts_2" xlink:title="Label : AdjustmentsForAllowanceForDoubtfulAccounts to label_AdjustmentsForAllowanceForDoubtfulAccounts_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForCreditSalesToThirdParty" xlink:label="AdjustmentsForCreditSalesToThirdParty" xlink:title="AdjustmentsForCreditSalesToThirdParty" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForCreditSalesToThirdParty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForCreditSalesToThirdParty" xml:lang="en-US" id="label_AdjustmentsForCreditSalesToThirdParty">Adjustments for credit sales to third party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForCreditSalesToThirdParty" xlink:to="label_AdjustmentsForCreditSalesToThirdParty" xlink:title="Label : AdjustmentsForCreditSalesToThirdParty to label_AdjustmentsForCreditSalesToThirdParty" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForCreditSalesToThirdParty_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdjustmentsForCreditSalesToThirdParty_1" xml:lang="en-US" id="label_AdjustmentsForCreditSalesToThirdParty_1">Disposal of credit rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForCreditSalesToThirdParty" xlink:to="label_AdjustmentsForCreditSalesToThirdParty_1" xlink:title="Label : AdjustmentsForCreditSalesToThirdParty to label_AdjustmentsForCreditSalesToThirdParty_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForCreditSalesToThirdParty_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForCreditSalesToThirdParty_2" xml:lang="en-US" id="label_AdjustmentsForCreditSalesToThirdParty_2">Adjustments for credit sales to third party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForCreditSalesToThirdParty" xlink:to="label_AdjustmentsForCreditSalesToThirdParty_2" xlink:title="Label : AdjustmentsForCreditSalesToThirdParty to label_AdjustmentsForCreditSalesToThirdParty_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForRecoveringTaxCredits" xlink:label="AdjustmentsForRecoveringTaxCredits" xlink:title="AdjustmentsForRecoveringTaxCredits" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForRecoveringTaxCredits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForRecoveringTaxCredits" xml:lang="en-US" id="label_AdjustmentsForRecoveringTaxCredits">Adjustments for recovering tax credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForRecoveringTaxCredits" xlink:to="label_AdjustmentsForRecoveringTaxCredits" xlink:title="Label : AdjustmentsForRecoveringTaxCredits to label_AdjustmentsForRecoveringTaxCredits" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForRecoveringTaxCredits_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdjustmentsForRecoveringTaxCredits_1" xml:lang="en-US" id="label_AdjustmentsForRecoveringTaxCredits_1">Recovering tax credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForRecoveringTaxCredits" xlink:to="label_AdjustmentsForRecoveringTaxCredits_1" xlink:title="Label : AdjustmentsForRecoveringTaxCredits to label_AdjustmentsForRecoveringTaxCredits_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForRecoveringTaxCredits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForRecoveringTaxCredits_2" xml:lang="en-US" id="label_AdjustmentsForRecoveringTaxCredits_2">Recovering tax credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForRecoveringTaxCredits" xlink:to="label_AdjustmentsForRecoveringTaxCredits_2" xlink:title="Label : AdjustmentsForRecoveringTaxCredits to label_AdjustmentsForRecoveringTaxCredits_2" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForRecoveringTaxCredits_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForRecoveringTaxCredits_3" xml:lang="en-US" id="label_AdjustmentsForRecoveringTaxCredits_3">Adjustments for recovering tax credits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForRecoveringTaxCredits" xlink:to="label_AdjustmentsForRecoveringTaxCredits_3" xlink:title="Label : AdjustmentsForRecoveringTaxCredits to label_AdjustmentsForRecoveringTaxCredits_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherAdjustmentsToReconcileProfitLoss" xlink:label="OtherAdjustmentsToReconcileProfitLoss" xlink:title="OtherAdjustmentsToReconcileProfitLoss" />
    <link:label xlink:type="resource" xlink:label="label_OtherAdjustmentsToReconcileProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAdjustmentsToReconcileProfitLoss" xml:lang="en-US" id="label_OtherAdjustmentsToReconcileProfitLoss">Other adjustments to reconcile profit (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAdjustmentsToReconcileProfitLoss" xlink:to="label_OtherAdjustmentsToReconcileProfitLoss" xlink:title="Label : OtherAdjustmentsToReconcileProfitLoss to label_OtherAdjustmentsToReconcileProfitLoss" />
    <link:label xlink:type="resource" xlink:label="label_OtherAdjustmentsToReconcileProfitLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAdjustmentsToReconcileProfitLoss_1" xml:lang="en-US" id="label_OtherAdjustmentsToReconcileProfitLoss_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAdjustmentsToReconcileProfitLoss" xlink:to="label_OtherAdjustmentsToReconcileProfitLoss_1" xlink:title="Label : OtherAdjustmentsToReconcileProfitLoss to label_OtherAdjustmentsToReconcileProfitLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:label="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:title="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xml:lang="en-US" id="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital">Cash flows from (used in) operations before changes in working capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:title="Label : CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital to label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" xml:lang="en-US" id="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1">Cash flows from operating activities before changes in working capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" xlink:title="Label : CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital to label_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:label="ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:title="ChangeInOperatingAssetsAndLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangeInOperatingAssetsAndLiabilitiesAbstract" xml:lang="en-US" id="label_ChangeInOperatingAssetsAndLiabilitiesAbstract">Change in Operating Assets and Liabilities [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:to="label_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:title="Label : ChangeInOperatingAssetsAndLiabilitiesAbstract to label_ChangeInOperatingAssetsAndLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_1" xml:lang="en-US" id="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_1">Changes in:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:to="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_1" xlink:title="Label : ChangeInOperatingAssetsAndLiabilitiesAbstract to label_ChangeInOperatingAssetsAndLiabilitiesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_2" xml:lang="en-US" id="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_2">Changes in:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:to="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_2" xlink:title="Label : ChangeInOperatingAssetsAndLiabilitiesAbstract to label_ChangeInOperatingAssetsAndLiabilitiesAbstract_2" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_3" xml:lang="en-US" id="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_3">Change in Operating Assets and Liabilities [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:to="label_ChangeInOperatingAssetsAndLiabilitiesAbstract_3" xlink:title="Label : ChangeInOperatingAssetsAndLiabilitiesAbstract to label_ChangeInOperatingAssetsAndLiabilitiesAbstract_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable">Adjustments for decrease (increase) in trade accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:title="Label : AdjustmentsForDecreaseIncreaseInTradeAccountReceivable to label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_1" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_1">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInTradeAccountReceivable to label_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="AdjustmentsForDecreaseIncreaseInInventories" xlink:title="AdjustmentsForDecreaseIncreaseInInventories" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInInventories" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInInventories">Adjustments for decrease (increase) in inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInInventories" xlink:to="label_AdjustmentsForDecreaseIncreaseInInventories" xlink:title="Label : AdjustmentsForDecreaseIncreaseInInventories to label_AdjustmentsForDecreaseIncreaseInInventories" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInInventories_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInInventories_1" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInInventories_1">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInInventories" xlink:to="label_AdjustmentsForDecreaseIncreaseInInventories_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInInventories to label_AdjustmentsForDecreaseIncreaseInInventories_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForOtherCurrentTaxNet" xlink:label="AdjustmentsForOtherCurrentTaxNet" xlink:title="AdjustmentsForOtherCurrentTaxNet" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForOtherCurrentTaxNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForOtherCurrentTaxNet" xml:lang="en-US" id="label_AdjustmentsForOtherCurrentTaxNet">Adjustments For Other Current Tax Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForOtherCurrentTaxNet" xlink:to="label_AdjustmentsForOtherCurrentTaxNet" xlink:title="Label : AdjustmentsForOtherCurrentTaxNet to label_AdjustmentsForOtherCurrentTaxNet" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForOtherCurrentTaxNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForOtherCurrentTaxNet_1" xml:lang="en-US" id="label_AdjustmentsForOtherCurrentTaxNet_1">Other current tax, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForOtherCurrentTaxNet" xlink:to="label_AdjustmentsForOtherCurrentTaxNet_1" xlink:title="Label : AdjustmentsForOtherCurrentTaxNet to label_AdjustmentsForOtherCurrentTaxNet_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForOtherCurrentTaxNet_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForOtherCurrentTaxNet_2" xml:lang="en-US" id="label_AdjustmentsForOtherCurrentTaxNet_2">Adjustments for other current tax net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForOtherCurrentTaxNet" xlink:to="label_AdjustmentsForOtherCurrentTaxNet_2" xlink:title="Label : AdjustmentsForOtherCurrentTaxNet to label_AdjustmentsForOtherCurrentTaxNet_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:label="IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:title="IncreaseDecreaseInIncomeTaxAndOtherTax" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInIncomeTaxAndOtherTax" xml:lang="en-US" id="label_IncreaseDecreaseInIncomeTaxAndOtherTax">Increase decrease in income tax and other tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:to="label_IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:title="Label : IncreaseDecreaseInIncomeTaxAndOtherTax to label_IncreaseDecreaseInIncomeTaxAndOtherTax" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInIncomeTaxAndOtherTax_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncreaseDecreaseInIncomeTaxAndOtherTax_1" xml:lang="en-US" id="label_IncreaseDecreaseInIncomeTaxAndOtherTax_1">Income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:to="label_IncreaseDecreaseInIncomeTaxAndOtherTax_1" xlink:title="Label : IncreaseDecreaseInIncomeTaxAndOtherTax to label_IncreaseDecreaseInIncomeTaxAndOtherTax_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInIncomeTaxAndOtherTax_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInIncomeTaxAndOtherTax_2" xml:lang="en-US" id="label_IncreaseDecreaseInIncomeTaxAndOtherTax_2">Increase decrease in income tax and other tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInIncomeTaxAndOtherTax" xlink:to="label_IncreaseDecreaseInIncomeTaxAndOtherTax_2" xlink:title="Label : IncreaseDecreaseInIncomeTaxAndOtherTax to label_IncreaseDecreaseInIncomeTaxAndOtherTax_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:label="AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:title="AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties">Adjustments For Decrease Increase In Due From Related Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:to="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:title="Label : AdjustmentsForDecreaseIncreaseInDueFromRelatedParties to label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_1" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_1">Related parties, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:to="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_1" xlink:title="Label : AdjustmentsForDecreaseIncreaseInDueFromRelatedParties to label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_2" xml:lang="en-US" id="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_2">Adjustments for decrease increase in due from related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" xlink:to="label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_2" xlink:title="Label : AdjustmentsForDecreaseIncreaseInDueFromRelatedParties to label_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:label="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" xlink:title="AdjustmentsForIncreaseDecreaseInTradeAccountPayable" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseInJudicialDeposits" xlink:label="IncreaseDecreaseInJudicialDeposits" xlink:title="IncreaseDecreaseInJudicialDeposits" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:title="CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" xlink:label="AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" xlink:title="AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" xlink:label="AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" xlink:title="AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" xlink:label="AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" xlink:title="AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsInConcessionsPayable" xlink:label="AdjustmentsInConcessionsPayable" xlink:title="AdjustmentsInConcessionsPayable" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseInWorkingCapital" xlink:label="IncreaseDecreaseInWorkingCapital" xlink:title="IncreaseDecreaseInWorkingCapital" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:title="CashFlowsFromUsedInInvestingActivitiesAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:title="CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BusinessCombinationNetOfCashAcquired" xlink:label="BusinessCombinationNetOfCashAcquired" xlink:title="BusinessCombinationNetOfCashAcquired" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:title="CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:label="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" xlink:title="CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" xlink:label="OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" xlink:title="OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LoansAndBorrowingsAndDebenturesRaised" xlink:label="LoansAndBorrowingsAndDebenturesRaised" xlink:title="LoansAndBorrowingsAndDebenturesRaised" />
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    <link:label xlink:type="resource" xlink:label="label_ProceedsFromDerivativeFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromDerivativeFinancialInstruments" xml:lang="en-US" id="label_ProceedsFromDerivativeFinancialInstruments">Proceeds from derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDerivativeFinancialInstruments" xlink:to="label_ProceedsFromDerivativeFinancialInstruments" xlink:title="Label : ProceedsFromDerivativeFinancialInstruments to label_ProceedsFromDerivativeFinancialInstruments" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromDerivativeFinancialInstruments_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromDerivativeFinancialInstruments_1" xml:lang="en-US" id="label_ProceedsFromDerivativeFinancialInstruments_1">Receipt of derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDerivativeFinancialInstruments" xlink:to="label_ProceedsFromDerivativeFinancialInstruments_1" xlink:title="Label : ProceedsFromDerivativeFinancialInstruments to label_ProceedsFromDerivativeFinancialInstruments_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromDerivativeFinancialInstruments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromDerivativeFinancialInstruments_2" xml:lang="en-US" id="label_ProceedsFromDerivativeFinancialInstruments_2">Proceeds from derivative financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDerivativeFinancialInstruments" xlink:to="label_ProceedsFromDerivativeFinancialInstruments_2" xlink:title="Label : ProceedsFromDerivativeFinancialInstruments to label_ProceedsFromDerivativeFinancialInstruments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:label="PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:title="PaymentsForDerivativeFinancialInstrumentsExceptDebt" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt" xml:lang="en-US" id="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt">Payment of non-debt related derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:to="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:title="Label : PaymentsForDerivativeFinancialInstrumentsExceptDebt to label_PaymentsForDerivativeFinancialInstrumentsExceptDebt" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_1" xml:lang="en-US" id="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_1">The cash outflow for payments of derivative financial instruments, except debt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:to="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_1" xlink:title="Label : PaymentsForDerivativeFinancialInstrumentsExceptDebt to label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_2" xml:lang="en-US" id="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_2">Payments for Derivative Financial Instruments Except Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForDerivativeFinancialInstrumentsExceptDebt" xlink:to="label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_2" xlink:title="Label : PaymentsForDerivativeFinancialInstrumentsExceptDebt to label_PaymentsForDerivativeFinancialInstrumentsExceptDebt_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:label="ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:title="ProceedsFromDerivativeFinancialInstrumentsExceptDebt" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xml:lang="en-US" id="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt">Receipt of non-debt related derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:to="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:title="Label : ProceedsFromDerivativeFinancialInstrumentsExceptDebt to label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_1" xml:lang="en-US" id="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_1">The cash inflow from derivative financial instruments, except debt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:to="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_1" xlink:title="Label : ProceedsFromDerivativeFinancialInstrumentsExceptDebt to label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_2" xml:lang="en-US" id="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_2">Proceeds from Derivative Financial Instruments Except Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromDerivativeFinancialInstrumentsExceptDebt" xlink:to="label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_2" xlink:title="Label : ProceedsFromDerivativeFinancialInstrumentsExceptDebt to label_ProceedsFromDerivativeFinancialInstrumentsExceptDebt_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:title="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xml:lang="en-US" id="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities">Repayment of principal on lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:title="Label : PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities to label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_1">Payments of lease liabilities, classified as financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_1" xlink:title="Label : PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities to label_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOperationsAndCorporateReorganizationAbstract" xlink:label="DisclosureOfOperationsAndCorporateReorganizationAbstract" xlink:title="DisclosureOfOperationsAndCorporateReorganizationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationAbstract" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationAbstract">Operations and Corporate Reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationAbstract" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationAbstract" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationAbstract to label_DisclosureOfOperationsAndCorporateReorganizationAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="InterestPaidClassifiedAsFinancingActivities" xlink:title="InterestPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_InterestPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPaidClassifiedAsFinancingActivities" xml:lang="en-US" id="label_InterestPaidClassifiedAsFinancingActivities">Interest paid, classified as financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPaidClassifiedAsFinancingActivities" xlink:to="label_InterestPaidClassifiedAsFinancingActivities" xlink:title="Label : InterestPaidClassifiedAsFinancingActivities to label_InterestPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_InterestPaidClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestPaidClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_InterestPaidClassifiedAsFinancingActivities_1">Payment of interest on leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPaidClassifiedAsFinancingActivities" xlink:to="label_InterestPaidClassifiedAsFinancingActivities_1" xlink:title="Label : InterestPaidClassifiedAsFinancingActivities to label_InterestPaidClassifiedAsFinancingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:label="ProceedsFromContributionsOfNoncontrollingInterests" xlink:title="ProceedsFromContributionsOfNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromContributionsOfNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromContributionsOfNoncontrollingInterests" xml:lang="en-US" id="label_ProceedsFromContributionsOfNoncontrollingInterests">Cash contribution from non-controlling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromContributionsOfNoncontrollingInterests" xlink:to="label_ProceedsFromContributionsOfNoncontrollingInterests" xlink:title="Label : ProceedsFromContributionsOfNoncontrollingInterests to label_ProceedsFromContributionsOfNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromContributionsOfNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromContributionsOfNoncontrollingInterests_1" xml:lang="en-US" id="label_ProceedsFromContributionsOfNoncontrollingInterests_1">Proceeds from contributions of non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromContributionsOfNoncontrollingInterests" xlink:to="label_ProceedsFromContributionsOfNoncontrollingInterests_1" xlink:title="Label : ProceedsFromContributionsOfNoncontrollingInterests to label_ProceedsFromContributionsOfNoncontrollingInterests_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:label="PaymentsToAcquireOrRedeemEntitysShares" xlink:title="PaymentsToAcquireOrRedeemEntitysShares" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireOrRedeemEntitysShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsToAcquireOrRedeemEntitysShares" xml:lang="en-US" id="label_PaymentsToAcquireOrRedeemEntitysShares">Payments to redeem entity's shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireOrRedeemEntitysShares" xlink:to="label_PaymentsToAcquireOrRedeemEntitysShares" xlink:title="Label : PaymentsToAcquireOrRedeemEntitysShares to label_PaymentsToAcquireOrRedeemEntitysShares" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireOrRedeemEntitysShares_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentsToAcquireOrRedeemEntitysShares_1" xml:lang="en-US" id="label_PaymentsToAcquireOrRedeemEntitysShares_1">Payments to redeem entity&#x2019;s shares and acquisition of treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireOrRedeemEntitysShares" xlink:to="label_PaymentsToAcquireOrRedeemEntitysShares_1" xlink:title="Label : PaymentsToAcquireOrRedeemEntitysShares to label_PaymentsToAcquireOrRedeemEntitysShares_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsToAcquireOrRedeemEntitysShares_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsToAcquireOrRedeemEntitysShares_2" xml:lang="en-US" id="label_PaymentsToAcquireOrRedeemEntitysShares_2">Payments to acquire or redeem entity's shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireOrRedeemEntitysShares" xlink:to="label_PaymentsToAcquireOrRedeemEntitysShares_2" xlink:title="Label : PaymentsToAcquireOrRedeemEntitysShares to label_PaymentsToAcquireOrRedeemEntitysShares_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:label="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:title="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xml:lang="en-US" id="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities">Sale of Non-controlling Interests in Subsidiaries Classified as Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:to="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:title="Label : SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities to label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_1">Transactions with non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:to="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_1" xlink:title="Label : SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities to label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_2" xml:lang="en-US" id="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_2">Receipt of consideration asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:to="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_2" xlink:title="Label : SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities to label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_2" />
    <link:label xlink:type="resource" xlink:label="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_3" xml:lang="en-US" id="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_3">Sale of non-controlling interests in subsidiaries classified as financing activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" xlink:to="label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_3" xlink:title="Label : SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities to label_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentForAcquisitionOfNoncontrollingInterests" xlink:label="PaymentForAcquisitionOfNoncontrollingInterests" xlink:title="PaymentForAcquisitionOfNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentForAcquisitionOfNoncontrollingInterests" xml:lang="en-US" id="label_PaymentForAcquisitionOfNoncontrollingInterests">Payment for Acquisition of Non-controlling Interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfNoncontrollingInterests" xlink:to="label_PaymentForAcquisitionOfNoncontrollingInterests" xlink:title="Label : PaymentForAcquisitionOfNoncontrollingInterests to label_PaymentForAcquisitionOfNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentForAcquisitionOfNoncontrollingInterests_1" xml:lang="en-US" id="label_PaymentForAcquisitionOfNoncontrollingInterests_1">Acquisition of non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfNoncontrollingInterests" xlink:to="label_PaymentForAcquisitionOfNoncontrollingInterests_1" xlink:title="Label : PaymentForAcquisitionOfNoncontrollingInterests to label_PaymentForAcquisitionOfNoncontrollingInterests_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfNoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentForAcquisitionOfNoncontrollingInterests_2" xml:lang="en-US" id="label_PaymentForAcquisitionOfNoncontrollingInterests_2">Acquisition of non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfNoncontrollingInterests" xlink:to="label_PaymentForAcquisitionOfNoncontrollingInterests_2" xlink:title="Label : PaymentForAcquisitionOfNoncontrollingInterests to label_PaymentForAcquisitionOfNoncontrollingInterests_2" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfNoncontrollingInterests_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentForAcquisitionOfNoncontrollingInterests_3" xml:lang="en-US" id="label_PaymentForAcquisitionOfNoncontrollingInterests_3">Payment for acquisition of Non-controlling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfNoncontrollingInterests" xlink:to="label_PaymentForAcquisitionOfNoncontrollingInterests_3" xlink:title="Label : PaymentForAcquisitionOfNoncontrollingInterests to label_PaymentForAcquisitionOfNoncontrollingInterests_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="DividendsPaidClassifiedAsFinancingActivities" xlink:title="DividendsPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities" xml:lang="en-US" id="label_DividendsPaidClassifiedAsFinancingActivities">Dividends paid, classified as financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities" xlink:title="Label : DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaidClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_DividendsPaidClassifiedAsFinancingActivities_1">Dividends paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidClassifiedAsFinancingActivities_1" xlink:title="Label : DividendsPaidClassifiedAsFinancingActivities to label_DividendsPaidClassifiedAsFinancingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:label="DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:title="DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xml:lang="en-US" id="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities">Dividends paid for preference shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:title="Label : DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities to label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_1">Dividends Paid On Preferential Shares Classified As Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_1" xlink:title="Label : DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities to label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_2" xml:lang="en-US" id="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_2">Dividends paid on preferential shares classified as financing activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" xlink:to="label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_2" xlink:title="Label : DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities to label_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:label="CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:title="CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xml:lang="en-US" id="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations">Cash Flow From Used In Financing Activities Discontinued Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:to="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:title="Label : CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations to label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_1" xml:lang="en-US" id="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_1">Discontinued operation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:to="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_1" xlink:title="Label : CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations to label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_2" xml:lang="en-US" id="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_2">The cash flows from (used in) the entity's financing activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) financing activities]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:to="label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_2" xlink:title="Label : CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations to label_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:label="PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:title="PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xml:lang="en-US" id="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities">Payment Of ShareBased Compensation Classified As Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:to="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:title="Label : PaymentOfSharebasedCompensationClassifiedAsFinancingActivities to label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_1">Payment of share-based compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:to="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_1" xlink:title="Label : PaymentOfSharebasedCompensationClassifiedAsFinancingActivities to label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_2" xml:lang="en-US" id="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_2">Payment of share-based compensation classified as financing activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" xlink:to="label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_2" xlink:title="Label : PaymentOfSharebasedCompensationClassifiedAsFinancingActivities to label_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:label="CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:title="CashFlowsFromUsedInFinancingActivitiesContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xml:lang="en-US" id="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations">Cash flow from financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:to="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:title="Label : CashFlowsFromUsedInFinancingActivitiesContinuingOperations to label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_1" xml:lang="en-US" id="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_1">Net cash from (used in) financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:to="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_1" xlink:title="Label : CashFlowsFromUsedInFinancingActivitiesContinuingOperations to label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_2" xml:lang="en-US" id="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_2">Cash flows from (used in) financing activities, continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:to="label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_2" xlink:title="Label : CashFlowsFromUsedInFinancingActivitiesContinuingOperations to label_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="EffectOfExchangeRateChangesOnCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xml:lang="en-US" id="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents">Effect of exchange rate changes on cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:title="Label : EffectOfExchangeRateChangesOnCashAndCashEquivalents to label_EffectOfExchangeRateChangesOnCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" xml:lang="en-US" id="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1">Effect of foreign exchange rate changes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" xlink:title="Label : EffectOfExchangeRateChangesOnCashAndCashEquivalents to label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionalInformationAbstract" xlink:label="AdditionalInformationAbstract" xlink:title="AdditionalInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalInformationAbstract" xml:lang="en-US" id="label_AdditionalInformationAbstract">Additional information [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalInformationAbstract" xlink:to="label_AdditionalInformationAbstract" xlink:title="Label : AdditionalInformationAbstract to label_AdditionalInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalInformationAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalInformationAbstract_1" xml:lang="en-US" id="label_AdditionalInformationAbstract_1">Additional information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalInformationAbstract" xlink:to="label_AdditionalInformationAbstract_1" xlink:title="Label : AdditionalInformationAbstract to label_AdditionalInformationAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncomeTaxesPaidRefund" xlink:label="IncomeTaxesPaidRefund" xlink:title="IncomeTaxesPaidRefund" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesPaidRefund" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxesPaidRefund" xml:lang="en-US" id="label_IncomeTaxesPaidRefund">Income taxes paid (refund)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesPaidRefund" xlink:to="label_IncomeTaxesPaidRefund" xlink:title="Label : IncomeTaxesPaidRefund to label_IncomeTaxesPaidRefund" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesPaidRefund_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeTaxesPaidRefund_1" xml:lang="en-US" id="label_IncomeTaxesPaidRefund_1">Income tax paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesPaidRefund" xlink:to="label_IncomeTaxesPaidRefund_1" xlink:title="Label : IncomeTaxesPaidRefund to label_IncomeTaxesPaidRefund_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementTable" xml:lang="en-US" id="label_StatementTable">Statement [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="label_StatementTable" xlink:title="Label : StatementTable to label_StatementTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementTable_1" xml:lang="en-US" id="label_StatementTable_1">Statement [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="label_StatementTable_1" xlink:title="Label : StatementTable to label_StatementTable_1" />
    <link:label xlink:type="resource" xlink:label="label_StatementTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StatementTable_2" xml:lang="en-US" id="label_StatementTable_2">Schedule reflecting a Statement of Income, Statement of Cash Flows, Statement of Financial Position, Statement of Shareholders Equity and Other Comprehensive Income, or other statement as needed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="label_StatementTable_2" xlink:title="Label : StatementTable to label_StatementTable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="SignificantInvestmentsInSubsidiariesAxis" xlink:title="SignificantInvestmentsInSubsidiariesAxis" />
    <link:label xlink:type="resource" xlink:label="label_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SignificantInvestmentsInSubsidiariesAxis" xml:lang="en-US" id="label_SignificantInvestmentsInSubsidiariesAxis">Subsidiaries [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="label_SignificantInvestmentsInSubsidiariesAxis" xlink:title="Label : SignificantInvestmentsInSubsidiariesAxis to label_SignificantInvestmentsInSubsidiariesAxis" />
    <link:label xlink:type="resource" xlink:label="label_SignificantInvestmentsInSubsidiariesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SignificantInvestmentsInSubsidiariesAxis_1" xml:lang="en-US" id="label_SignificantInvestmentsInSubsidiariesAxis_1">Subsidiaries [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInSubsidiariesAxis" xlink:to="label_SignificantInvestmentsInSubsidiariesAxis_1" xlink:title="Label : SignificantInvestmentsInSubsidiariesAxis to label_SignificantInvestmentsInSubsidiariesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="EntitysTotalForSubsidiariesMember" xlink:title="EntitysTotalForSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForSubsidiariesMember" xml:lang="en-US" id="label_EntitysTotalForSubsidiariesMember">Entity's total for subsidiaries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="label_EntitysTotalForSubsidiariesMember" xlink:title="Label : EntitysTotalForSubsidiariesMember to label_EntitysTotalForSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForSubsidiariesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntitysTotalForSubsidiariesMember_1" xml:lang="en-US" id="label_EntitysTotalForSubsidiariesMember_1">Entity's total for subsidiaries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForSubsidiariesMember" xlink:to="label_EntitysTotalForSubsidiariesMember_1" xlink:title="Label : EntitysTotalForSubsidiariesMember to label_EntitysTotalForSubsidiariesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SubsidiariesMember" xlink:label="SubsidiariesMember" xlink:title="SubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubsidiariesMember" xml:lang="en-US" id="label_SubsidiariesMember">Subsidiaries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesMember" xlink:to="label_SubsidiariesMember" xlink:title="Label : SubsidiariesMember to label_SubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_SubsidiariesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubsidiariesMember_1" xml:lang="en-US" id="label_SubsidiariesMember_1">Subsidiaries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesMember" xlink:to="label_SubsidiariesMember_1" xlink:title="Label : SubsidiariesMember to label_SubsidiariesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RezendeBarbosaSaMember" xlink:label="RezendeBarbosaSaMember" xlink:title="RezendeBarbosaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_RezendeBarbosaSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RezendeBarbosaSaMember" xml:lang="en-US" id="label_RezendeBarbosaSaMember">Rezende Barbosa SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RezendeBarbosaSaMember" xlink:to="label_RezendeBarbosaSaMember" xlink:title="Label : RezendeBarbosaSaMember to label_RezendeBarbosaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_RezendeBarbosaSaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RezendeBarbosaSaMember_1" xml:lang="en-US" id="label_RezendeBarbosaSaMember_1">Rezende Barbosa SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RezendeBarbosaSaMember" xlink:to="label_RezendeBarbosaSaMember_1" xlink:title="Label : RezendeBarbosaSaMember to label_RezendeBarbosaSaMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaylySolucoesDePagamentosSaMember" xlink:label="PaylySolucoesDePagamentosSaMember" xlink:title="PaylySolucoesDePagamentosSaMember" />
    <link:label xlink:type="resource" xlink:label="label_PaylySolucoesDePagamentosSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaylySolucoesDePagamentosSaMember" xml:lang="en-US" id="label_PaylySolucoesDePagamentosSaMember">Payly Solucoes de Pagamentos SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaylySolucoesDePagamentosSaMember" xlink:to="label_PaylySolucoesDePagamentosSaMember" xlink:title="Label : PaylySolucoesDePagamentosSaMember to label_PaylySolucoesDePagamentosSaMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PreferenceSharesMember" xlink:label="PreferenceSharesMember" xlink:title="PreferenceSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferenceSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferenceSharesMember" xml:lang="en-US" id="label_PreferenceSharesMember">Preference shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesMember" xlink:to="label_PreferenceSharesMember" xlink:title="Label : PreferenceSharesMember to label_PreferenceSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferenceSharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferenceSharesMember_1" xml:lang="en-US" id="label_PreferenceSharesMember_1">Preference shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesMember" xlink:to="label_PreferenceSharesMember_1" xlink:title="Label : PreferenceSharesMember to label_PreferenceSharesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OrdinarySharesMember" xlink:label="OrdinarySharesMember" xlink:title="OrdinarySharesMember" />
    <link:label xlink:type="resource" xlink:label="label_OrdinarySharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OrdinarySharesMember" xml:lang="en-US" id="label_OrdinarySharesMember">Ordinary shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesMember" xlink:to="label_OrdinarySharesMember" xlink:title="Label : OrdinarySharesMember to label_OrdinarySharesMember" />
    <link:label xlink:type="resource" xlink:label="label_OrdinarySharesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OrdinarySharesMember_1" xml:lang="en-US" id="label_OrdinarySharesMember_1">Ordinary shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesMember" xlink:to="label_OrdinarySharesMember_1" xlink:title="Label : OrdinarySharesMember to label_OrdinarySharesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OrdinarySharesMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OrdinarySharesMember_2" xml:lang="en-US" id="label_OrdinarySharesMember_2">Common shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesMember" xlink:to="label_OrdinarySharesMember_2" xlink:title="Label : OrdinarySharesMember to label_OrdinarySharesMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CounterpartiesAxis" xlink:label="CounterpartiesAxis" xlink:title="CounterpartiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CounterpartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CounterpartiesAxis" xml:lang="en-US" id="label_CounterpartiesAxis">Counterparties [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartiesAxis" xlink:to="label_CounterpartiesAxis" xlink:title="Label : CounterpartiesAxis to label_CounterpartiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CounterpartiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CounterpartiesAxis_1" xml:lang="en-US" id="label_CounterpartiesAxis_1">Counterparties [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartiesAxis" xlink:to="label_CounterpartiesAxis_1" xlink:title="Label : CounterpartiesAxis to label_CounterpartiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CounterpartiesMember" xlink:label="CounterpartiesMember" xlink:title="CounterpartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_CounterpartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CounterpartiesMember" xml:lang="en-US" id="label_CounterpartiesMember">Counterparties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartiesMember" xlink:to="label_CounterpartiesMember" xlink:title="Label : CounterpartiesMember to label_CounterpartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_CounterpartiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CounterpartiesMember_1" xml:lang="en-US" id="label_CounterpartiesMember_1">Counterparties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartiesMember" xlink:to="label_CounterpartiesMember_1" xlink:title="Label : CounterpartiesMember to label_CounterpartiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLogsticaMember" xlink:label="CosanLogsticaMember" xlink:title="CosanLogsticaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogsticaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLogsticaMember" xml:lang="en-US" id="label_CosanLogsticaMember">Cosan Logstica [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogsticaMember" xlink:to="label_CosanLogsticaMember" xlink:title="Label : CosanLogsticaMember to label_CosanLogsticaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogsticaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLogsticaMember_1" xml:lang="en-US" id="label_CosanLogsticaMember_1">Cosan Log&#xED;stica [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogsticaMember" xlink:to="label_CosanLogsticaMember_1" xlink:title="Label : CosanLogsticaMember to label_CosanLogsticaMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanSAMember" xlink:label="CosanSAMember" xlink:title="CosanSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanSAMember" xml:lang="en-US" id="label_CosanSAMember">Cosan SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAMember" xlink:to="label_CosanSAMember" xlink:title="Label : CosanSAMember to label_CosanSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanSAMember_1" xml:lang="en-US" id="label_CosanSAMember_1">Cosan S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAMember" xlink:to="label_CosanSAMember_1" xlink:title="Label : CosanSAMember to label_CosanSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanSAMember_2" xml:lang="en-US" id="label_CosanSAMember_2">Cosan S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAMember" xlink:to="label_CosanSAMember_2" xlink:title="Label : CosanSAMember to label_CosanSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="ClassesOfPropertyPlantAndEquipmentAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfPropertyPlantAndEquipmentAxis" xml:lang="en-US" id="label_ClassesOfPropertyPlantAndEquipmentAxis">Classes of property, plant and equipment [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="label_ClassesOfPropertyPlantAndEquipmentAxis" xlink:title="Label : ClassesOfPropertyPlantAndEquipmentAxis to label_ClassesOfPropertyPlantAndEquipmentAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfPropertyPlantAndEquipmentAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfPropertyPlantAndEquipmentAxis_1" xml:lang="en-US" id="label_ClassesOfPropertyPlantAndEquipmentAxis_1">Classes of property, plant and equipment [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="label_ClassesOfPropertyPlantAndEquipmentAxis_1" xlink:title="Label : ClassesOfPropertyPlantAndEquipmentAxis to label_ClassesOfPropertyPlantAndEquipmentAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="PropertyPlantAndEquipmentMember" xlink:title="PropertyPlantAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentMember" xml:lang="en-US" id="label_PropertyPlantAndEquipmentMember">Property, plant and equipment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="label_PropertyPlantAndEquipmentMember" xlink:title="Label : PropertyPlantAndEquipmentMember to label_PropertyPlantAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentMember_1" xml:lang="en-US" id="label_PropertyPlantAndEquipmentMember_1">Property, plant and equipment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentMember" xlink:to="label_PropertyPlantAndEquipmentMember_1" xlink:title="Label : PropertyPlantAndEquipmentMember to label_PropertyPlantAndEquipmentMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ConstructionInProgressMember" xlink:label="ConstructionInProgressMember" xlink:title="ConstructionInProgressMember" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionInProgressMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConstructionInProgressMember" xml:lang="en-US" id="label_ConstructionInProgressMember">Construction in progress [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionInProgressMember" xlink:to="label_ConstructionInProgressMember" xlink:title="Label : ConstructionInProgressMember to label_ConstructionInProgressMember" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionInProgressMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConstructionInProgressMember_1" xml:lang="en-US" id="label_ConstructionInProgressMember_1">Construction in progress [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionInProgressMember" xlink:to="label_ConstructionInProgressMember_1" xlink:title="Label : ConstructionInProgressMember to label_ConstructionInProgressMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_JointVenturesAxis" xlink:label="JointVenturesAxis" xlink:title="JointVenturesAxis" />
    <link:label xlink:type="resource" xlink:label="label_JointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JointVenturesAxis" xml:lang="en-US" id="label_JointVenturesAxis">Joint ventures [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JointVenturesAxis" xlink:to="label_JointVenturesAxis" xlink:title="Label : JointVenturesAxis to label_JointVenturesAxis" />
    <link:label xlink:type="resource" xlink:label="label_JointVenturesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JointVenturesAxis_1" xml:lang="en-US" id="label_JointVenturesAxis_1">Joint ventures [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JointVenturesAxis" xlink:to="label_JointVenturesAxis_1" xlink:title="Label : JointVenturesAxis to label_JointVenturesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="EntitysTotalForJointVenturesMember" xlink:title="EntitysTotalForJointVenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForJointVenturesMember" xml:lang="en-US" id="label_EntitysTotalForJointVenturesMember">Entity's total for joint ventures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForJointVenturesMember" xlink:to="label_EntitysTotalForJointVenturesMember" xlink:title="Label : EntitysTotalForJointVenturesMember to label_EntitysTotalForJointVenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForJointVenturesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntitysTotalForJointVenturesMember_1" xml:lang="en-US" id="label_EntitysTotalForJointVenturesMember_1">Entity's total for joint ventures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForJointVenturesMember" xlink:to="label_EntitysTotalForJointVenturesMember_1" xlink:title="Label : EntitysTotalForJointVenturesMember to label_EntitysTotalForJointVenturesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_JointVenturesMember" xlink:label="JointVenturesMember" xlink:title="JointVenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_JointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JointVenturesMember" xml:lang="en-US" id="label_JointVenturesMember">Joint ventures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JointVenturesMember" xlink:to="label_JointVenturesMember" xlink:title="Label : JointVenturesMember to label_JointVenturesMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TypeOfArrangementsAxis" xlink:label="TypeOfArrangementsAxis" xlink:title="TypeOfArrangementsAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypeOfArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypeOfArrangementsAxis" xml:lang="en-US" id="label_TypeOfArrangementsAxis">Type Of Arrangements [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypeOfArrangementsAxis" xlink:to="label_TypeOfArrangementsAxis" xlink:title="Label : TypeOfArrangementsAxis to label_TypeOfArrangementsAxis" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TypeOfArrangementsMember" xlink:label="TypeOfArrangementsMember" xlink:title="TypeOfArrangementsMember" />
    <link:label xlink:type="resource" xlink:label="label_TypeOfArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypeOfArrangementsMember" xml:lang="en-US" id="label_TypeOfArrangementsMember">Type Of Arrangements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypeOfArrangementsMember" xlink:to="label_TypeOfArrangementsMember" xlink:title="Label : TypeOfArrangementsMember to label_TypeOfArrangementsMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NorthSouthRailroadConcessionAgreementMember" xlink:label="NorthSouthRailroadConcessionAgreementMember" xlink:title="NorthSouthRailroadConcessionAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_NorthSouthRailroadConcessionAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NorthSouthRailroadConcessionAgreementMember" xml:lang="en-US" id="label_NorthSouthRailroadConcessionAgreementMember">North South Railroad Concession Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthSouthRailroadConcessionAgreementMember" xlink:to="label_NorthSouthRailroadConcessionAgreementMember" xlink:title="Label : NorthSouthRailroadConcessionAgreementMember to label_NorthSouthRailroadConcessionAgreementMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherLeaseAgreementsMember" xlink:label="OtherLeaseAgreementsMember" xlink:title="OtherLeaseAgreementsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherLeaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherLeaseAgreementsMember" xml:lang="en-US" id="label_OtherLeaseAgreementsMember">Other Lease Agreements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLeaseAgreementsMember" xlink:to="label_OtherLeaseAgreementsMember" xlink:title="Label : OtherLeaseAgreementsMember to label_OtherLeaseAgreementsMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementLineItems" xml:lang="en-US" id="label_StatementLineItems">Statement [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="label_StatementLineItems" xlink:title="Label : StatementLineItems to label_StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_StatementLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementLineItems_1" xml:lang="en-US" id="label_StatementLineItems_1">Statement [LineItems]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="label_StatementLineItems_1" xlink:title="Label : StatementLineItems to label_StatementLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_StatementLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StatementLineItems_2" xml:lang="en-US" id="label_StatementLineItems_2">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="label_StatementLineItems_2" xlink:title="Label : StatementLineItems to label_StatementLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:label="TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:title="TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xml:lang="en-US" id="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices">Tax Assets Recognition Related to Exclusion of Tax on Sales and Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:to="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:title="Label : TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices to label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_1" xml:lang="en-US" id="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_1">Tax assets Recognised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:to="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_1" xlink:title="Label : TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices to label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_2" xml:lang="en-US" id="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_2">Tax assets recognition related to exclusion of tax on sales and services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" xlink:to="label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_2" xlink:title="Label : TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices to label_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IntangibleAssetsAdditions" xlink:label="IntangibleAssetsAdditions" xlink:title="IntangibleAssetsAdditions" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAdditions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsAdditions" xml:lang="en-US" id="label_IntangibleAssetsAdditions">Intangible assets additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAdditions" xlink:to="label_IntangibleAssetsAdditions" xlink:title="Label : IntangibleAssetsAdditions to label_IntangibleAssetsAdditions" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAdditions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntangibleAssetsAdditions_1" xml:lang="en-US" id="label_IntangibleAssetsAdditions_1">Intangible assets, addition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAdditions" xlink:to="label_IntangibleAssetsAdditions_1" xlink:title="Label : IntangibleAssetsAdditions to label_IntangibleAssetsAdditions_1" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAdditions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IntangibleAssetsAdditions_2" xml:lang="en-US" id="label_IntangibleAssetsAdditions_2">Intangible assets additions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAdditions" xlink:to="label_IntangibleAssetsAdditions_2" xlink:title="Label : IntangibleAssetsAdditions to label_IntangibleAssetsAdditions_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionsToRightofuseAssets" xlink:label="AdditionsToRightofuseAssets" xlink:title="AdditionsToRightofuseAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsToRightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionsToRightofuseAssets" xml:lang="en-US" id="label_AdditionsToRightofuseAssets">Additions to right-of-use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsToRightofuseAssets" xlink:to="label_AdditionsToRightofuseAssets" xlink:title="Label : AdditionsToRightofuseAssets to label_AdditionsToRightofuseAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsToRightofuseAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionsToRightofuseAssets_1" xml:lang="en-US" id="label_AdditionsToRightofuseAssets_1">Right-of-use&#xA0;assets recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsToRightofuseAssets" xlink:to="label_AdditionsToRightofuseAssets_1" xlink:title="Label : AdditionsToRightofuseAssets to label_AdditionsToRightofuseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsToRightofuseAssets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AdditionsToRightofuseAssets_2" xml:lang="en-US" id="label_AdditionsToRightofuseAssets_2">Additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsToRightofuseAssets" xlink:to="label_AdditionsToRightofuseAssets_2" xlink:title="Label : AdditionsToRightofuseAssets to label_AdditionsToRightofuseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CapitalContributionCapitalizationOfExpenses" xlink:label="CapitalContributionCapitalizationOfExpenses" xlink:title="CapitalContributionCapitalizationOfExpenses" />
    <link:label xlink:type="resource" xlink:label="label_CapitalContributionCapitalizationOfExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalContributionCapitalizationOfExpenses" xml:lang="en-US" id="label_CapitalContributionCapitalizationOfExpenses">Capital Contribution Capitalization Of Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalContributionCapitalizationOfExpenses" xlink:to="label_CapitalContributionCapitalizationOfExpenses" xlink:title="Label : CapitalContributionCapitalizationOfExpenses to label_CapitalContributionCapitalizationOfExpenses" />
    <link:label xlink:type="resource" xlink:label="label_CapitalContributionCapitalizationOfExpenses_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalContributionCapitalizationOfExpenses_1" xml:lang="en-US" id="label_CapitalContributionCapitalizationOfExpenses_1">Capital contribution capitalization of expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalContributionCapitalizationOfExpenses" xlink:to="label_CapitalContributionCapitalizationOfExpenses_1" xlink:title="Label : CapitalContributionCapitalizationOfExpenses to label_CapitalContributionCapitalizationOfExpenses_1" />
    <link:label xlink:type="resource" xlink:label="label_CapitalContributionCapitalizationOfExpenses_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalContributionCapitalizationOfExpenses_2" xml:lang="en-US" id="label_CapitalContributionCapitalizationOfExpenses_2">Capital contribution capitalization of expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalContributionCapitalizationOfExpenses" xlink:to="label_CapitalContributionCapitalizationOfExpenses_2" xlink:title="Label : CapitalContributionCapitalizationOfExpenses to label_CapitalContributionCapitalizationOfExpenses_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonCashSettlementOfReceivables" xlink:label="NonCashSettlementOfReceivables" xlink:title="NonCashSettlementOfReceivables" />
    <link:label xlink:type="resource" xlink:label="label_NonCashSettlementOfReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonCashSettlementOfReceivables" xml:lang="en-US" id="label_NonCashSettlementOfReceivables">Non Cash Settlement Of Receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCashSettlementOfReceivables" xlink:to="label_NonCashSettlementOfReceivables" xlink:title="Label : NonCashSettlementOfReceivables to label_NonCashSettlementOfReceivables" />
    <link:label xlink:type="resource" xlink:label="label_NonCashSettlementOfReceivables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonCashSettlementOfReceivables_1" xml:lang="en-US" id="label_NonCashSettlementOfReceivables_1">Non cash settlement of receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCashSettlementOfReceivables" xlink:to="label_NonCashSettlementOfReceivables_1" xlink:title="Label : NonCashSettlementOfReceivables to label_NonCashSettlementOfReceivables_1" />
    <link:label xlink:type="resource" xlink:label="label_NonCashSettlementOfReceivables_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonCashSettlementOfReceivables_2" xml:lang="en-US" id="label_NonCashSettlementOfReceivables_2">Non cash settlement of receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCashSettlementOfReceivables" xlink:to="label_NonCashSettlementOfReceivables_2" xlink:title="Label : NonCashSettlementOfReceivables to label_NonCashSettlementOfReceivables_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="InvestmentAccountedForUsingEquityMethod" xlink:title="InvestmentAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentAccountedForUsingEquityMethod" xml:lang="en-US" id="label_InvestmentAccountedForUsingEquityMethod">Investments accounted for using equity method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentAccountedForUsingEquityMethod" xlink:to="label_InvestmentAccountedForUsingEquityMethod" xlink:title="Label : InvestmentAccountedForUsingEquityMethod to label_InvestmentAccountedForUsingEquityMethod" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_InvestmentAccountedForUsingEquityMethod_1" xml:lang="en-US" id="label_InvestmentAccountedForUsingEquityMethod_1">Recognition of litigation indemnification</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentAccountedForUsingEquityMethod" xlink:to="label_InvestmentAccountedForUsingEquityMethod_1" xlink:title="Label : InvestmentAccountedForUsingEquityMethod to label_InvestmentAccountedForUsingEquityMethod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:label="IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:title="IncreaseDecreaseInContingentConsiderationAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInContingentConsiderationAssetLiability" xml:lang="en-US" id="label_IncreaseDecreaseInContingentConsiderationAssetLiability">Increase (decrease) in contingent consideration asset (liability)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="label_IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:title="Label : IncreaseDecreaseInContingentConsiderationAssetLiability to label_IncreaseDecreaseInContingentConsiderationAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInContingentConsiderationAssetLiability_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseInContingentConsiderationAssetLiability_1" xml:lang="en-US" id="label_IncreaseDecreaseInContingentConsiderationAssetLiability_1">Increase (decrease) in contingent consideration asset (liability)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="label_IncreaseDecreaseInContingentConsiderationAssetLiability_1" xlink:title="Label : IncreaseDecreaseInContingentConsiderationAssetLiability to label_IncreaseDecreaseInContingentConsiderationAssetLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInContingentConsiderationAssetLiability_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInContingentConsiderationAssetLiability_2" xml:lang="en-US" id="label_IncreaseDecreaseInContingentConsiderationAssetLiability_2">Contingent consideration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInContingentConsiderationAssetLiability" xlink:to="label_IncreaseDecreaseInContingentConsiderationAssetLiability_2" xlink:title="Label : IncreaseDecreaseInContingentConsiderationAssetLiability to label_IncreaseDecreaseInContingentConsiderationAssetLiability_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentForAcquisitionOfAssetsInInstallments" xlink:label="PaymentForAcquisitionOfAssetsInInstallments" xlink:title="PaymentForAcquisitionOfAssetsInInstallments" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfAssetsInInstallments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentForAcquisitionOfAssetsInInstallments" xml:lang="en-US" id="label_PaymentForAcquisitionOfAssetsInInstallments">Payment For Acquisition Of Assets In Installments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfAssetsInInstallments" xlink:to="label_PaymentForAcquisitionOfAssetsInInstallments" xlink:title="Label : PaymentForAcquisitionOfAssetsInInstallments to label_PaymentForAcquisitionOfAssetsInInstallments" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfAssetsInInstallments_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentForAcquisitionOfAssetsInInstallments_1" xml:lang="en-US" id="label_PaymentForAcquisitionOfAssetsInInstallments_1">Payment for acquisition of assets in installments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfAssetsInInstallments" xlink:to="label_PaymentForAcquisitionOfAssetsInInstallments_1" xlink:title="Label : PaymentForAcquisitionOfAssetsInInstallments to label_PaymentForAcquisitionOfAssetsInInstallments_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentForAcquisitionOfAssetsInInstallments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentForAcquisitionOfAssetsInInstallments_2" xml:lang="en-US" id="label_PaymentForAcquisitionOfAssetsInInstallments_2">Payment for acquisition of assets in installments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentForAcquisitionOfAssetsInInstallments" xlink:to="label_PaymentForAcquisitionOfAssetsInInstallments_2" xlink:title="Label : PaymentForAcquisitionOfAssetsInInstallments to label_PaymentForAcquisitionOfAssetsInInstallments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountOfVotingEquityInterestsAcquired" xlink:label="AmountOfVotingEquityInterestsAcquired" xlink:title="AmountOfVotingEquityInterestsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfVotingEquityInterestsAcquired" xml:lang="en-US" id="label_AmountOfVotingEquityInterestsAcquired">Amount Of Voting Equity Interests Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfVotingEquityInterestsAcquired" xlink:to="label_AmountOfVotingEquityInterestsAcquired" xlink:title="Label : AmountOfVotingEquityInterestsAcquired to label_AmountOfVotingEquityInterestsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfVotingEquityInterestsAcquired_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfVotingEquityInterestsAcquired_1" xml:lang="en-US" id="label_AmountOfVotingEquityInterestsAcquired_1">Amount of voting equity interests acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfVotingEquityInterestsAcquired" xlink:to="label_AmountOfVotingEquityInterestsAcquired_1" xlink:title="Label : AmountOfVotingEquityInterestsAcquired to label_AmountOfVotingEquityInterestsAcquired_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfVotingEquityInterestsAcquired_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfVotingEquityInterestsAcquired_2" xml:lang="en-US" id="label_AmountOfVotingEquityInterestsAcquired_2">Amount of voting equity interests acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfVotingEquityInterestsAcquired" xlink:to="label_AmountOfVotingEquityInterestsAcquired_2" xlink:title="Label : AmountOfVotingEquityInterestsAcquired to label_AmountOfVotingEquityInterestsAcquired_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:label="NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:title="NumberOfInstrumentsOrInterestsIssuedOrIssuable" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xml:lang="en-US" id="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable">Number of instruments or interests issued or issuable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:to="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:title="Label : NumberOfInstrumentsOrInterestsIssuedOrIssuable to label_NumberOfInstrumentsOrInterestsIssuedOrIssuable" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable_1" xml:lang="en-US" id="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable_1">Number of instruments issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:to="label_NumberOfInstrumentsOrInterestsIssuedOrIssuable_1" xlink:title="Label : NumberOfInstrumentsOrInterestsIssuedOrIssuable to label_NumberOfInstrumentsOrInterestsIssuedOrIssuable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccountsPayable" xlink:label="AccountsPayable" xlink:title="AccountsPayable" />
    <link:label xlink:type="resource" xlink:label="label_AccountsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccountsPayable" xml:lang="en-US" id="label_AccountsPayable">Accounts Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayable" xlink:to="label_AccountsPayable" xlink:title="Label : AccountsPayable to label_AccountsPayable" />
    <link:label xlink:type="resource" xlink:label="label_AccountsPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccountsPayable_1" xml:lang="en-US" id="label_AccountsPayable_1">Accounts payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayable" xlink:to="label_AccountsPayable_1" xlink:title="Label : AccountsPayable to label_AccountsPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_AccountsPayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccountsPayable_2" xml:lang="en-US" id="label_AccountsPayable_2">Accounts payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayable" xlink:to="label_AccountsPayable_2" xlink:title="Label : AccountsPayable to label_AccountsPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TextBlockAbstract" xlink:label="TextBlockAbstract" xlink:title="TextBlockAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TextBlockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TextBlockAbstract" xml:lang="en-US" id="label_TextBlockAbstract">Text block [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TextBlockAbstract" xlink:to="label_TextBlockAbstract" xlink:title="Label : TextBlockAbstract to label_TextBlockAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TextBlockAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TextBlockAbstract_1" xml:lang="en-US" id="label_TextBlockAbstract_1">Text block [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TextBlockAbstract" xlink:to="label_TextBlockAbstract_1" xlink:title="Label : TextBlockAbstract to label_TextBlockAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebenturesIssuedMember" xlink:label="DebenturesIssuedMember" xlink:title="DebenturesIssuedMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesIssuedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebenturesIssuedMember" xml:lang="en-US" id="label_DebenturesIssuedMember">Debentures issued [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesIssuedMember" xlink:to="label_DebenturesIssuedMember" xlink:title="Label : DebenturesIssuedMember to label_DebenturesIssuedMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesIssuedMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesIssuedMember_1" xml:lang="en-US" id="label_DebenturesIssuedMember_1">This member stands for information pertaining to debentures issued.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesIssuedMember" xlink:to="label_DebenturesIssuedMember_1" xlink:title="Label : DebenturesIssuedMember to label_DebenturesIssuedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesIssuedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebenturesIssuedMember_2" xml:lang="en-US" id="label_DebenturesIssuedMember_2">Debentures issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesIssuedMember" xlink:to="label_DebenturesIssuedMember_2" xlink:title="Label : DebenturesIssuedMember to label_DebenturesIssuedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfCompanyHistoryAbstract" xlink:label="DisclosureOfCompanyHistoryAbstract" xlink:title="DisclosureOfCompanyHistoryAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCompanyHistoryAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCompanyHistoryAbstract" xml:lang="en-US" id="label_DisclosureOfCompanyHistoryAbstract">Disclosure of company history [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompanyHistoryAbstract" xlink:to="label_DisclosureOfCompanyHistoryAbstract" xlink:title="Label : DisclosureOfCompanyHistoryAbstract to label_DisclosureOfCompanyHistoryAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfCompanyHistoryTextBlock" xlink:label="DisclosureOfCompanyHistoryTextBlock" xlink:title="DisclosureOfCompanyHistoryTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCompanyHistoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCompanyHistoryTextBlock" xml:lang="en-US" id="label_DisclosureOfCompanyHistoryTextBlock">Company history</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompanyHistoryTextBlock" xlink:to="label_DisclosureOfCompanyHistoryTextBlock" xlink:title="Label : DisclosureOfCompanyHistoryTextBlock to label_DisclosureOfCompanyHistoryTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCompanyHistoryTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCompanyHistoryTextBlock_1" xml:lang="en-US" id="label_DisclosureOfCompanyHistoryTextBlock_1">The entire disclosure of company history.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompanyHistoryTextBlock" xlink:to="label_DisclosureOfCompanyHistoryTextBlock_1" xlink:title="Label : DisclosureOfCompanyHistoryTextBlock to label_DisclosureOfCompanyHistoryTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCompanyHistoryTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCompanyHistoryTextBlock_2" xml:lang="en-US" id="label_DisclosureOfCompanyHistoryTextBlock_2">Company history [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCompanyHistoryTextBlock" xlink:to="label_DisclosureOfCompanyHistoryTextBlock_2" xlink:title="Label : DisclosureOfCompanyHistoryTextBlock to label_DisclosureOfCompanyHistoryTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfCorporateReorganizationAbstract" xlink:label="DisclosureOfCorporateReorganizationAbstract" xlink:title="DisclosureOfCorporateReorganizationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCorporateReorganizationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCorporateReorganizationAbstract" xml:lang="en-US" id="label_DisclosureOfCorporateReorganizationAbstract">Corporate reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCorporateReorganizationAbstract" xlink:to="label_DisclosureOfCorporateReorganizationAbstract" xlink:title="Label : DisclosureOfCorporateReorganizationAbstract to label_DisclosureOfCorporateReorganizationAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualInstallmentsAmountInBusinessCombination" xlink:label="AnnualInstallmentsAmountInBusinessCombination" xlink:title="AnnualInstallmentsAmountInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_AnnualInstallmentsAmountInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualInstallmentsAmountInBusinessCombination" xml:lang="en-US" id="label_AnnualInstallmentsAmountInBusinessCombination">Annual installments amount in business combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualInstallmentsAmountInBusinessCombination" xlink:to="label_AnnualInstallmentsAmountInBusinessCombination" xlink:title="Label : AnnualInstallmentsAmountInBusinessCombination to label_AnnualInstallmentsAmountInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_AnnualInstallmentsAmountInBusinessCombination_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualInstallmentsAmountInBusinessCombination_1" xml:lang="en-US" id="label_AnnualInstallmentsAmountInBusinessCombination_1">The amount of annual installments to be paid in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualInstallmentsAmountInBusinessCombination" xlink:to="label_AnnualInstallmentsAmountInBusinessCombination_1" xlink:title="Label : AnnualInstallmentsAmountInBusinessCombination to label_AnnualInstallmentsAmountInBusinessCombination_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualInstallmentsAmountInBusinessCombination_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualInstallmentsAmountInBusinessCombination_2" xml:lang="en-US" id="label_AnnualInstallmentsAmountInBusinessCombination_2">Annual installments amount in business combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualInstallmentsAmountInBusinessCombination" xlink:to="label_AnnualInstallmentsAmountInBusinessCombination_2" xlink:title="Label : AnnualInstallmentsAmountInBusinessCombination to label_AnnualInstallmentsAmountInBusinessCombination_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentOfFirstInstallmentInBusinessCombination" xlink:label="PaymentOfFirstInstallmentInBusinessCombination" xlink:title="PaymentOfFirstInstallmentInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfFirstInstallmentInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentOfFirstInstallmentInBusinessCombination" xml:lang="en-US" id="label_PaymentOfFirstInstallmentInBusinessCombination">Payment of first installment in business combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfFirstInstallmentInBusinessCombination" xlink:to="label_PaymentOfFirstInstallmentInBusinessCombination" xlink:title="Label : PaymentOfFirstInstallmentInBusinessCombination to label_PaymentOfFirstInstallmentInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfFirstInstallmentInBusinessCombination_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentOfFirstInstallmentInBusinessCombination_1" xml:lang="en-US" id="label_PaymentOfFirstInstallmentInBusinessCombination_1">The cash outflow for payment of first installment for consideration in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfFirstInstallmentInBusinessCombination" xlink:to="label_PaymentOfFirstInstallmentInBusinessCombination_1" xlink:title="Label : PaymentOfFirstInstallmentInBusinessCombination to label_PaymentOfFirstInstallmentInBusinessCombination_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfFirstInstallmentInBusinessCombination_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentOfFirstInstallmentInBusinessCombination_2" xml:lang="en-US" id="label_PaymentOfFirstInstallmentInBusinessCombination_2">Payment of first installment in business combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfFirstInstallmentInBusinessCombination" xlink:to="label_PaymentOfFirstInstallmentInBusinessCombination_2" xlink:title="Label : PaymentOfFirstInstallmentInBusinessCombination to label_PaymentOfFirstInstallmentInBusinessCombination_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xml:lang="en-US" id="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory">Disclosure of significant accounting policies [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:title="Label : DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory to label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_1" xml:lang="en-US" id="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_1">Accounting policies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_1" xlink:title="Label : DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory to label_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:label="DisclosureOfEntitysReportableSegmentsExplanatory" xlink:title="DisclosureOfEntitysReportableSegmentsExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfEntitysReportableSegmentsExplanatory" xml:lang="en-US" id="label_DisclosureOfEntitysReportableSegmentsExplanatory">Disclosure of entity's operating segments [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="label_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:title="Label : DisclosureOfEntitysReportableSegmentsExplanatory to label_DisclosureOfEntitysReportableSegmentsExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfEntitysReportableSegmentsExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfEntitysReportableSegmentsExplanatory_1" xml:lang="en-US" id="label_DisclosureOfEntitysReportableSegmentsExplanatory_1">Segment information</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="label_DisclosureOfEntitysReportableSegmentsExplanatory_1" xlink:title="Label : DisclosureOfEntitysReportableSegmentsExplanatory to label_DisclosureOfEntitysReportableSegmentsExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfFinancialAssetsAndLiabilitiesAbstract" xlink:label="DisclosureOfFinancialAssetsAndLiabilitiesAbstract" xlink:title="DisclosureOfFinancialAssetsAndLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsAndLiabilitiesAbstract" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsAndLiabilitiesAbstract">Financial assets and liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsAndLiabilitiesAbstract" xlink:to="label_DisclosureOfFinancialAssetsAndLiabilitiesAbstract" xlink:title="Label : DisclosureOfFinancialAssetsAndLiabilitiesAbstract to label_DisclosureOfFinancialAssetsAndLiabilitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:label="DisclosureOfFinancialInstrumentsExplanatory" xlink:title="DisclosureOfFinancialInstrumentsExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialInstrumentsExplanatory" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsExplanatory">Disclosure of financial instruments [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsExplanatory" xlink:to="label_DisclosureOfFinancialInstrumentsExplanatory" xlink:title="Label : DisclosureOfFinancialInstrumentsExplanatory to label_DisclosureOfFinancialInstrumentsExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialInstrumentsExplanatory_1" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsExplanatory_1">Financial assets and liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsExplanatory" xlink:to="label_DisclosureOfFinancialInstrumentsExplanatory_1" xlink:title="Label : DisclosureOfFinancialInstrumentsExplanatory to label_DisclosureOfFinancialInstrumentsExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfCurrentTaxReceivablesExplanatory" xlink:label="DisclosureOfCurrentTaxReceivablesExplanatory" xlink:title="DisclosureOfCurrentTaxReceivablesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCurrentTaxReceivablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCurrentTaxReceivablesExplanatory" xml:lang="en-US" id="label_DisclosureOfCurrentTaxReceivablesExplanatory">Disclosure of current tax receivables [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCurrentTaxReceivablesExplanatory" xlink:to="label_DisclosureOfCurrentTaxReceivablesExplanatory" xlink:title="Label : DisclosureOfCurrentTaxReceivablesExplanatory to label_DisclosureOfCurrentTaxReceivablesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCurrentTaxReceivablesExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCurrentTaxReceivablesExplanatory_1" xml:lang="en-US" id="label_DisclosureOfCurrentTaxReceivablesExplanatory_1">Other tax receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCurrentTaxReceivablesExplanatory" xlink:to="label_DisclosureOfCurrentTaxReceivablesExplanatory_1" xlink:title="Label : DisclosureOfCurrentTaxReceivablesExplanatory to label_DisclosureOfCurrentTaxReceivablesExplanatory_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCurrentTaxReceivablesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfCurrentTaxReceivablesExplanatory_2" xml:lang="en-US" id="label_DisclosureOfCurrentTaxReceivablesExplanatory_2">The disclosure of current tax receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCurrentTaxReceivablesExplanatory" xlink:to="label_DisclosureOfCurrentTaxReceivablesExplanatory_2" xlink:title="Label : DisclosureOfCurrentTaxReceivablesExplanatory to label_DisclosureOfCurrentTaxReceivablesExplanatory_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="DisclosureOfInventoriesExplanatory" xlink:title="DisclosureOfInventoriesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInventoriesExplanatory" xml:lang="en-US" id="label_DisclosureOfInventoriesExplanatory">Disclosure of inventories [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesExplanatory" xlink:to="label_DisclosureOfInventoriesExplanatory" xlink:title="Label : DisclosureOfInventoriesExplanatory to label_DisclosureOfInventoriesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInventoriesExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInventoriesExplanatory_1" xml:lang="en-US" id="label_DisclosureOfInventoriesExplanatory_1">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInventoriesExplanatory" xlink:to="label_DisclosureOfInventoriesExplanatory_1" xlink:title="Label : DisclosureOfInventoriesExplanatory to label_DisclosureOfInventoriesExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:label="DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:title="DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xml:lang="en-US" id="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory">Disclosure of investments accounted for using equity method [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:to="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:title="Label : DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory to label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_1" xml:lang="en-US" id="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_1">Investments in associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" xlink:to="label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_1" xlink:title="Label : DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory to label_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract" xlink:label="InvestmentsAccountedForUsingEquityMethodAbstract" xlink:title="InvestmentsAccountedForUsingEquityMethodAbstract" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsAccountedForUsingEquityMethodAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsAccountedForUsingEquityMethodAbstract" xml:lang="en-US" id="label_InvestmentsAccountedForUsingEquityMethodAbstract">Investments accounted for using equity method [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAccountedForUsingEquityMethodAbstract" xlink:to="label_InvestmentsAccountedForUsingEquityMethodAbstract" xlink:title="Label : InvestmentsAccountedForUsingEquityMethodAbstract to label_InvestmentsAccountedForUsingEquityMethodAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:label="DisclosureOfJointVenturesExplanatory" xlink:title="DisclosureOfJointVenturesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfJointVenturesExplanatory" xml:lang="en-US" id="label_DisclosureOfJointVenturesExplanatory">Disclosure of joint ventures [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointVenturesExplanatory" xlink:to="label_DisclosureOfJointVenturesExplanatory" xlink:title="Label : DisclosureOfJointVenturesExplanatory to label_DisclosureOfJointVenturesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfJointVenturesExplanatory_1" xml:lang="en-US" id="label_DisclosureOfJointVenturesExplanatory_1">Investments in joint ventures</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock" xlink:label="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock" xlink:title="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock" />
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    <link:label xlink:type="resource" xlink:label="label_Arsesp933ResolutionMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Arsesp933ResolutionMember_2" xml:lang="en-US" id="label_Arsesp933ResolutionMember_2">Arsesp933Resolution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Arsesp933ResolutionMember" xlink:to="label_Arsesp933ResolutionMember_2" xlink:title="Label : Arsesp933ResolutionMember to label_Arsesp933ResolutionMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xlink:label="RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xlink:title="RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xml:lang="en-US" id="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember">Rede Integrada de Lojas de Convenncias e Proximidade S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xlink:to="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xlink:title="Label : RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember to label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember_1" xml:lang="en-US" id="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember_1">Rede Integrada de Lojas de Conven&#xEA;ncias e Proximidade S.A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" xlink:to="label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember_1" xlink:title="Label : RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember to label_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ChangesInEquityAxis" xlink:label="ChangesInEquityAxis" xlink:title="ChangesInEquityAxis" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesInEquityAxis" xml:lang="en-US" id="label_ChangesInEquityAxis">Changes In Equity [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInEquityAxis" xlink:to="label_ChangesInEquityAxis" xlink:title="Label : ChangesInEquityAxis to label_ChangesInEquityAxis" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ChangesInEquityDomain" xlink:label="ChangesInEquityDomain" xlink:title="ChangesInEquityDomain" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInEquityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesInEquityDomain" xml:lang="en-US" id="label_ChangesInEquityDomain">Changes In Equity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInEquityDomain" xlink:to="label_ChangesInEquityDomain" xlink:title="Label : ChangesInEquityDomain to label_ChangesInEquityDomain" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BeforeReductionOfEquityMember" xlink:label="BeforeReductionOfEquityMember" xlink:title="BeforeReductionOfEquityMember" />
    <link:label xlink:type="resource" xlink:label="label_BeforeReductionOfEquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BeforeReductionOfEquityMember" xml:lang="en-US" id="label_BeforeReductionOfEquityMember">Before Reduction Of Equity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BeforeReductionOfEquityMember" xlink:to="label_BeforeReductionOfEquityMember" xlink:title="Label : BeforeReductionOfEquityMember to label_BeforeReductionOfEquityMember" />
    <link:label xlink:type="resource" xlink:label="label_BeforeReductionOfEquityMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BeforeReductionOfEquityMember_1" xml:lang="en-US" id="label_BeforeReductionOfEquityMember_1">Before Reduction Of Equity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BeforeReductionOfEquityMember" xlink:to="label_BeforeReductionOfEquityMember_1" xlink:title="Label : BeforeReductionOfEquityMember to label_BeforeReductionOfEquityMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AfterReductionOfEquityMember" xlink:label="AfterReductionOfEquityMember" xlink:title="AfterReductionOfEquityMember" />
    <link:label xlink:type="resource" xlink:label="label_AfterReductionOfEquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AfterReductionOfEquityMember" xml:lang="en-US" id="label_AfterReductionOfEquityMember">After Reduction Of Equity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfterReductionOfEquityMember" xlink:to="label_AfterReductionOfEquityMember" xlink:title="Label : AfterReductionOfEquityMember to label_AfterReductionOfEquityMember" />
    <link:label xlink:type="resource" xlink:label="label_AfterReductionOfEquityMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AfterReductionOfEquityMember_1" xml:lang="en-US" id="label_AfterReductionOfEquityMember_1">After Reduction Of Equity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AfterReductionOfEquityMember" xlink:to="label_AfterReductionOfEquityMember_1" xlink:title="Label : AfterReductionOfEquityMember to label_AfterReductionOfEquityMember_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_StatementScenarioAxis" xlink:label="StatementScenarioAxis" xlink:title="StatementScenarioAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementScenarioAxis" xml:lang="en-US" id="label_StatementScenarioAxis">Scenario [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementScenarioAxis" xlink:to="label_StatementScenarioAxis" xlink:title="Label : StatementScenarioAxis to label_StatementScenarioAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementScenarioAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementScenarioAxis_1" xml:lang="en-US" id="label_StatementScenarioAxis_1">Scenario [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementScenarioAxis" xlink:to="label_StatementScenarioAxis_1" xlink:title="Label : StatementScenarioAxis to label_StatementScenarioAxis_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="ScenarioUnspecifiedDomain" xlink:title="ScenarioUnspecifiedDomain" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioUnspecifiedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScenarioUnspecifiedDomain" xml:lang="en-US" id="label_ScenarioUnspecifiedDomain">Scenario [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioUnspecifiedDomain" xlink:to="label_ScenarioUnspecifiedDomain" xlink:title="Label : ScenarioUnspecifiedDomain to label_ScenarioUnspecifiedDomain" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioUnspecifiedDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScenarioUnspecifiedDomain_1" xml:lang="en-US" id="label_ScenarioUnspecifiedDomain_1">Scenario [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioUnspecifiedDomain" xlink:to="label_ScenarioUnspecifiedDomain_1" xlink:title="Label : ScenarioUnspecifiedDomain to label_ScenarioUnspecifiedDomain_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ScenarioForecastMember" xlink:label="ScenarioForecastMember" xlink:title="ScenarioForecastMember" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioForecastMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScenarioForecastMember" xml:lang="en-US" id="label_ScenarioForecastMember">Forecast [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioForecastMember" xlink:to="label_ScenarioForecastMember" xlink:title="Label : ScenarioForecastMember to label_ScenarioForecastMember" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioForecastMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScenarioForecastMember_1" xml:lang="en-US" id="label_ScenarioForecastMember_1">Forecast [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioForecastMember" xlink:to="label_ScenarioForecastMember_1" xlink:title="Label : ScenarioForecastMember to label_ScenarioForecastMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ClassesOfAssetsAxis" xlink:title="ClassesOfAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfAssetsAxis" xml:lang="en-US" id="label_ClassesOfAssetsAxis">Classes of assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfAssetsAxis" xlink:to="label_ClassesOfAssetsAxis" xlink:title="Label : ClassesOfAssetsAxis to label_ClassesOfAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfAssetsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfAssetsAxis_1" xml:lang="en-US" id="label_ClassesOfAssetsAxis_1">Classes of assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfAssetsAxis" xlink:to="label_ClassesOfAssetsAxis_1" xlink:title="Label : ClassesOfAssetsAxis to label_ClassesOfAssetsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ClassesOfAssetsMember" xlink:title="ClassesOfAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfAssetsMember" xml:lang="en-US" id="label_ClassesOfAssetsMember">Assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfAssetsMember" xlink:to="label_ClassesOfAssetsMember" xlink:title="Label : ClassesOfAssetsMember to label_ClassesOfAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfAssetsMember_1" xml:lang="en-US" id="label_ClassesOfAssetsMember_1">Assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfAssetsMember" xlink:to="label_ClassesOfAssetsMember_1" xlink:title="Label : ClassesOfAssetsMember to label_ClassesOfAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailroadNetworkMember" xlink:label="RailroadNetworkMember" xlink:title="RailroadNetworkMember" />
    <link:label xlink:type="resource" xlink:label="label_RailroadNetworkMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RailroadNetworkMember" xml:lang="en-US" id="label_RailroadNetworkMember">Railroad Network [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadNetworkMember" xlink:to="label_RailroadNetworkMember" xlink:title="Label : RailroadNetworkMember to label_RailroadNetworkMember" />
    <link:label xlink:type="resource" xlink:label="label_RailroadNetworkMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RailroadNetworkMember_1" xml:lang="en-US" id="label_RailroadNetworkMember_1">Railroad Network [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadNetworkMember" xlink:to="label_RailroadNetworkMember_1" xlink:title="Label : RailroadNetworkMember to label_RailroadNetworkMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RailroadNetworkMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RailroadNetworkMember_2" xml:lang="en-US" id="label_RailroadNetworkMember_2">Railroad Network [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadNetworkMember" xlink:to="label_RailroadNetworkMember_2" xlink:title="Label : RailroadNetworkMember to label_RailroadNetworkMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfBackgroundAndOperationsLineItems" xlink:label="DisclosureOfBackgroundAndOperationsLineItems" xlink:title="DisclosureOfBackgroundAndOperationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBackgroundAndOperationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfBackgroundAndOperationsLineItems" xml:lang="en-US" id="label_DisclosureOfBackgroundAndOperationsLineItems">Disclosure Of Background And Operations [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBackgroundAndOperationsLineItems" xlink:to="label_DisclosureOfBackgroundAndOperationsLineItems" xlink:title="Label : DisclosureOfBackgroundAndOperationsLineItems to label_DisclosureOfBackgroundAndOperationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBackgroundAndOperationsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfBackgroundAndOperationsLineItems_1" xml:lang="en-US" id="label_DisclosureOfBackgroundAndOperationsLineItems_1">Disclosure of background and operations [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBackgroundAndOperationsLineItems" xlink:to="label_DisclosureOfBackgroundAndOperationsLineItems_1" xlink:title="Label : DisclosureOfBackgroundAndOperationsLineItems to label_DisclosureOfBackgroundAndOperationsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBackgroundAndOperationsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfBackgroundAndOperationsLineItems_2" xml:lang="en-US" id="label_DisclosureOfBackgroundAndOperationsLineItems_2">Line items represent disclosure of background and operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBackgroundAndOperationsLineItems" xlink:to="label_DisclosureOfBackgroundAndOperationsLineItems_2" xlink:title="Label : DisclosureOfBackgroundAndOperationsLineItems to label_DisclosureOfBackgroundAndOperationsLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ProportionOfOwnershipInterestInSubsidiary" xlink:title="ProportionOfOwnershipInterestInSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_ProportionOfOwnershipInterestInSubsidiary" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInSubsidiary">Final interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInSubsidiary" xlink:to="label_ProportionOfOwnershipInterestInSubsidiary" xlink:title="Label : ProportionOfOwnershipInterestInSubsidiary to label_ProportionOfOwnershipInterestInSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInSubsidiary_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProportionOfOwnershipInterestInSubsidiary_1" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInSubsidiary_1">Percentage of ownership interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInSubsidiary" xlink:to="label_ProportionOfOwnershipInterestInSubsidiary_1" xlink:title="Label : ProportionOfOwnershipInterestInSubsidiary to label_ProportionOfOwnershipInterestInSubsidiary_1" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInSubsidiary_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProportionOfOwnershipInterestInSubsidiary_2" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInSubsidiary_2">Percentage of ownership held in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInSubsidiary" xlink:to="label_ProportionOfOwnershipInterestInSubsidiary_2" xlink:title="Label : ProportionOfOwnershipInterestInSubsidiary to label_ProportionOfOwnershipInterestInSubsidiary_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExchangeRightsExercisedDuringPeriodShares" xlink:label="ExchangeRightsExercisedDuringPeriodShares" xlink:title="ExchangeRightsExercisedDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeRightsExercisedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExchangeRightsExercisedDuringPeriodShares" xml:lang="en-US" id="label_ExchangeRightsExercisedDuringPeriodShares">Exchange rights exercised during period shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeRightsExercisedDuringPeriodShares" xlink:to="label_ExchangeRightsExercisedDuringPeriodShares" xlink:title="Label : ExchangeRightsExercisedDuringPeriodShares to label_ExchangeRightsExercisedDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeRightsExercisedDuringPeriodShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExchangeRightsExercisedDuringPeriodShares_1" xml:lang="en-US" id="label_ExchangeRightsExercisedDuringPeriodShares_1">Number of shares exchange rights exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeRightsExercisedDuringPeriodShares" xlink:to="label_ExchangeRightsExercisedDuringPeriodShares_1" xlink:title="Label : ExchangeRightsExercisedDuringPeriodShares to label_ExchangeRightsExercisedDuringPeriodShares_1" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeRightsExercisedDuringPeriodShares_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExchangeRightsExercisedDuringPeriodShares_2" xml:lang="en-US" id="label_ExchangeRightsExercisedDuringPeriodShares_2">Exchange rights exercised during period shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeRightsExercisedDuringPeriodShares" xlink:to="label_ExchangeRightsExercisedDuringPeriodShares_2" xlink:title="Label : ExchangeRightsExercisedDuringPeriodShares to label_ExchangeRightsExercisedDuringPeriodShares_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentsForReplacementStockOptionsAwards" xlink:label="PaymentsForReplacementStockOptionsAwards" xlink:title="PaymentsForReplacementStockOptionsAwards" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForReplacementStockOptionsAwards" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForReplacementStockOptionsAwards" xml:lang="en-US" id="label_PaymentsForReplacementStockOptionsAwards">Payments for replacement stock options awards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForReplacementStockOptionsAwards" xlink:to="label_PaymentsForReplacementStockOptionsAwards" xlink:title="Label : PaymentsForReplacementStockOptionsAwards to label_PaymentsForReplacementStockOptionsAwards" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForReplacementStockOptionsAwards_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsForReplacementStockOptionsAwards_1" xml:lang="en-US" id="label_PaymentsForReplacementStockOptionsAwards_1">Payments for replacement stock options awards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForReplacementStockOptionsAwards" xlink:to="label_PaymentsForReplacementStockOptionsAwards_1" xlink:title="Label : PaymentsForReplacementStockOptionsAwards to label_PaymentsForReplacementStockOptionsAwards_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForReplacementStockOptionsAwards_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentsForReplacementStockOptionsAwards_2" xml:lang="en-US" id="label_PaymentsForReplacementStockOptionsAwards_2">Payments for replacement stock options awards.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForReplacementStockOptionsAwards" xlink:to="label_PaymentsForReplacementStockOptionsAwards_2" xlink:title="Label : PaymentsForReplacementStockOptionsAwards to label_PaymentsForReplacementStockOptionsAwards_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FairValueOfShareReceived" xlink:label="FairValueOfShareReceived" xlink:title="FairValueOfShareReceived" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfShareReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueOfShareReceived" xml:lang="en-US" id="label_FairValueOfShareReceived">Fair value of share received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfShareReceived" xlink:to="label_FairValueOfShareReceived" xlink:title="Label : FairValueOfShareReceived to label_FairValueOfShareReceived" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfShareReceived_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueOfShareReceived_1" xml:lang="en-US" id="label_FairValueOfShareReceived_1">Fair value of share received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfShareReceived" xlink:to="label_FairValueOfShareReceived_1" xlink:title="Label : FairValueOfShareReceived to label_FairValueOfShareReceived_1" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfShareReceived_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FairValueOfShareReceived_2" xml:lang="en-US" id="label_FairValueOfShareReceived_2">Fair value of share received.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfShareReceived" xlink:to="label_FairValueOfShareReceived_2" xlink:title="Label : FairValueOfShareReceived to label_FairValueOfShareReceived_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfShareHolderinPutOption" xlink:label="PercentageOfShareHolderinPutOption" xlink:title="PercentageOfShareHolderinPutOption" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfShareHolderinPutOption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfShareHolderinPutOption" xml:lang="en-US" id="label_PercentageOfShareHolderinPutOption">Percentage of share holderin put option</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfShareHolderinPutOption" xlink:to="label_PercentageOfShareHolderinPutOption" xlink:title="Label : PercentageOfShareHolderinPutOption to label_PercentageOfShareHolderinPutOption" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfShareHolderinPutOption_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfShareHolderinPutOption_1" xml:lang="en-US" id="label_PercentageOfShareHolderinPutOption_1">Percentage of put options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfShareHolderinPutOption" xlink:to="label_PercentageOfShareHolderinPutOption_1" xlink:title="Label : PercentageOfShareHolderinPutOption to label_PercentageOfShareHolderinPutOption_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfShareHolderinPutOption_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfShareHolderinPutOption_2" xml:lang="en-US" id="label_PercentageOfShareHolderinPutOption_2">Percentage of share holderin put option.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfShareHolderinPutOption" xlink:to="label_PercentageOfShareHolderinPutOption_2" xlink:title="Label : PercentageOfShareHolderinPutOption to label_PercentageOfShareHolderinPutOption_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSaleInStockSubsidiary" xlink:label="NumberOfSaleInStockSubsidiary" xlink:title="NumberOfSaleInStockSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSaleInStockSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSaleInStockSubsidiary" xml:lang="en-US" id="label_NumberOfSaleInStockSubsidiary">Number of sale in stock subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSaleInStockSubsidiary" xlink:to="label_NumberOfSaleInStockSubsidiary" xlink:title="Label : NumberOfSaleInStockSubsidiary to label_NumberOfSaleInStockSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSaleInStockSubsidiary_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSaleInStockSubsidiary_1" xml:lang="en-US" id="label_NumberOfSaleInStockSubsidiary_1">Number of sale in stock subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSaleInStockSubsidiary" xlink:to="label_NumberOfSaleInStockSubsidiary_1" xlink:title="Label : NumberOfSaleInStockSubsidiary to label_NumberOfSaleInStockSubsidiary_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSaleInStockSubsidiary_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSaleInStockSubsidiary_2" xml:lang="en-US" id="label_NumberOfSaleInStockSubsidiary_2">Number of sale in stock subsidiary.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSaleInStockSubsidiary" xlink:to="label_NumberOfSaleInStockSubsidiary_2" xlink:title="Label : NumberOfSaleInStockSubsidiary to label_NumberOfSaleInStockSubsidiary_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SalesPercentageOfStockInSubsidiary" xlink:label="SalesPercentageOfStockInSubsidiary" xlink:title="SalesPercentageOfStockInSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_SalesPercentageOfStockInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SalesPercentageOfStockInSubsidiary" xml:lang="en-US" id="label_SalesPercentageOfStockInSubsidiary">Sales percentage of stock in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesPercentageOfStockInSubsidiary" xlink:to="label_SalesPercentageOfStockInSubsidiary" xlink:title="Label : SalesPercentageOfStockInSubsidiary to label_SalesPercentageOfStockInSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_SalesPercentageOfStockInSubsidiary_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SalesPercentageOfStockInSubsidiary_1" xml:lang="en-US" id="label_SalesPercentageOfStockInSubsidiary_1">Sales percentage of stock in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesPercentageOfStockInSubsidiary" xlink:to="label_SalesPercentageOfStockInSubsidiary_1" xlink:title="Label : SalesPercentageOfStockInSubsidiary to label_SalesPercentageOfStockInSubsidiary_1" />
    <link:label xlink:type="resource" xlink:label="label_SalesPercentageOfStockInSubsidiary_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SalesPercentageOfStockInSubsidiary_2" xml:lang="en-US" id="label_SalesPercentageOfStockInSubsidiary_2">Sales percentage of stock in subsidiary.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesPercentageOfStockInSubsidiary" xlink:to="label_SalesPercentageOfStockInSubsidiary_2" xlink:title="Label : SalesPercentageOfStockInSubsidiary to label_SalesPercentageOfStockInSubsidiary_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:title="AcquisitiondateFairValueOfTotalConsiderationTransferred" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AcquisitiondateFairValueOfTotalConsiderationTransferred" xml:lang="en-US" id="label_AcquisitiondateFairValueOfTotalConsiderationTransferred">Consideration transferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="label_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:title="Label : AcquisitiondateFairValueOfTotalConsiderationTransferred to label_AcquisitiondateFairValueOfTotalConsiderationTransferred" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_1" xml:lang="en-US" id="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_1">Consideration transferred, acquisition-date fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_1" xlink:title="Label : AcquisitiondateFairValueOfTotalConsiderationTransferred to label_AcquisitiondateFairValueOfTotalConsiderationTransferred_1" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_2" xml:lang="en-US" id="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_2">Acquisition consideration price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_2" xlink:title="Label : AcquisitiondateFairValueOfTotalConsiderationTransferred to label_AcquisitiondateFairValueOfTotalConsiderationTransferred_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:title="AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill">Acquisitions through business combinations, intangible assets and goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:to="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:title="Label : AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill to label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_1" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_1">Additional goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:to="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_1" xlink:title="Label : AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill to label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_1" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_2" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_2">Goodwill of acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:to="label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_2" xlink:title="Label : AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill to label_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xlink:label="PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xlink:title="PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xml:lang="en-US" id="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents">Portion of consideration paid (received) consisting of cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xlink:to="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xlink:title="Label : PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents to label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_1" xml:lang="en-US" id="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_1">Consideration transferred, net of cash received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents" xlink:to="label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_1" xlink:title="Label : PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents to label_PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashContributions" xlink:label="CashContributions" xlink:title="CashContributions" />
    <link:label xlink:type="resource" xlink:label="label_CashContributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashContributions" xml:lang="en-US" id="label_CashContributions">Cash Contributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashContributions" xlink:to="label_CashContributions" xlink:title="Label : CashContributions to label_CashContributions" />
    <link:label xlink:type="resource" xlink:label="label_CashContributions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashContributions_1" xml:lang="en-US" id="label_CashContributions_1">Contribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashContributions" xlink:to="label_CashContributions_1" xlink:title="Label : CashContributions to label_CashContributions_1" />
    <link:label xlink:type="resource" xlink:label="label_CashContributions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashContributions_2" xml:lang="en-US" id="label_CashContributions_2">Cash contributions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashContributions" xlink:to="label_CashContributions_2" xlink:title="Label : CashContributions to label_CashContributions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfIssuanceOfNewCommonShares" xlink:label="PercentageOfIssuanceOfNewCommonShares" xlink:title="PercentageOfIssuanceOfNewCommonShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIssuanceOfNewCommonShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfIssuanceOfNewCommonShares" xml:lang="en-US" id="label_PercentageOfIssuanceOfNewCommonShares">Percentage of issuance of new common shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIssuanceOfNewCommonShares" xlink:to="label_PercentageOfIssuanceOfNewCommonShares" xlink:title="Label : PercentageOfIssuanceOfNewCommonShares to label_PercentageOfIssuanceOfNewCommonShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIssuanceOfNewCommonShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfIssuanceOfNewCommonShares_1" xml:lang="en-US" id="label_PercentageOfIssuanceOfNewCommonShares_1">Percentage of issuance of new common shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIssuanceOfNewCommonShares" xlink:to="label_PercentageOfIssuanceOfNewCommonShares_1" xlink:title="Label : PercentageOfIssuanceOfNewCommonShares to label_PercentageOfIssuanceOfNewCommonShares_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIssuanceOfNewCommonShares_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfIssuanceOfNewCommonShares_2" xml:lang="en-US" id="label_PercentageOfIssuanceOfNewCommonShares_2">Percentage of issuance of new common shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIssuanceOfNewCommonShares" xlink:to="label_PercentageOfIssuanceOfNewCommonShares_2" xlink:title="Label : PercentageOfIssuanceOfNewCommonShares to label_PercentageOfIssuanceOfNewCommonShares_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CapitalContribution" xlink:label="CapitalContribution" xlink:title="CapitalContribution" />
    <link:label xlink:type="resource" xlink:label="label_CapitalContribution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalContribution" xml:lang="en-US" id="label_CapitalContribution">Capital Contribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalContribution" xlink:to="label_CapitalContribution" xlink:title="Label : CapitalContribution to label_CapitalContribution" />
    <link:label xlink:type="resource" xlink:label="label_CapitalContribution_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalContribution_1" xml:lang="en-US" id="label_CapitalContribution_1">Total capital increase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalContribution" xlink:to="label_CapitalContribution_1" xlink:title="Label : CapitalContribution to label_CapitalContribution_1" />
    <link:label xlink:type="resource" xlink:label="label_CapitalContribution_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalContribution_2" xml:lang="en-US" id="label_CapitalContribution_2">Capital contribution.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalContribution" xlink:to="label_CapitalContribution_2" xlink:title="Label : CapitalContribution to label_CapitalContribution_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ResolutionAmountApproved" xlink:label="ResolutionAmountApproved" xlink:title="ResolutionAmountApproved" />
    <link:label xlink:type="resource" xlink:label="label_ResolutionAmountApproved" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ResolutionAmountApproved" xml:lang="en-US" id="label_ResolutionAmountApproved">Resolution Amount Approved</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResolutionAmountApproved" xlink:to="label_ResolutionAmountApproved" xlink:title="Label : ResolutionAmountApproved to label_ResolutionAmountApproved" />
    <link:label xlink:type="resource" xlink:label="label_ResolutionAmountApproved_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ResolutionAmountApproved_1" xml:lang="en-US" id="label_ResolutionAmountApproved_1">Resolution amount approved.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResolutionAmountApproved" xlink:to="label_ResolutionAmountApproved_1" xlink:title="Label : ResolutionAmountApproved to label_ResolutionAmountApproved_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentInJointVenture" xlink:label="InvestmentInJointVenture" xlink:title="InvestmentInJointVenture" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentInJointVenture" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentInJointVenture" xml:lang="en-US" id="label_InvestmentInJointVenture">Investment in Joint Venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentInJointVenture" xlink:to="label_InvestmentInJointVenture" xlink:title="Label : InvestmentInJointVenture to label_InvestmentInJointVenture" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentInJointVenture_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentInJointVenture_1" xml:lang="en-US" id="label_InvestmentInJointVenture_1">Investment in joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentInJointVenture" xlink:to="label_InvestmentInJointVenture_1" xlink:title="Label : InvestmentInJointVenture to label_InvestmentInJointVenture_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GainLossFromFormationOfJointVenture" xlink:label="GainLossFromFormationOfJointVenture" xlink:title="GainLossFromFormationOfJointVenture" />
    <link:label xlink:type="resource" xlink:label="label_GainLossFromFormationOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GainLossFromFormationOfJointVenture" xml:lang="en-US" id="label_GainLossFromFormationOfJointVenture">Gain loss from formation of joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossFromFormationOfJointVenture" xlink:to="label_GainLossFromFormationOfJointVenture" xlink:title="Label : GainLossFromFormationOfJointVenture to label_GainLossFromFormationOfJointVenture" />
    <link:label xlink:type="resource" xlink:label="label_GainLossFromFormationOfJointVenture_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainLossFromFormationOfJointVenture_1" xml:lang="en-US" id="label_GainLossFromFormationOfJointVenture_1">Gain Loss From Formation of Joint Venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossFromFormationOfJointVenture" xlink:to="label_GainLossFromFormationOfJointVenture_1" xlink:title="Label : GainLossFromFormationOfJointVenture to label_GainLossFromFormationOfJointVenture_1" />
    <link:label xlink:type="resource" xlink:label="label_GainLossFromFormationOfJointVenture_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainLossFromFormationOfJointVenture_2" xml:lang="en-US" id="label_GainLossFromFormationOfJointVenture_2">Gain (loss) from formation of joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossFromFormationOfJointVenture" xlink:to="label_GainLossFromFormationOfJointVenture_2" xlink:title="Label : GainLossFromFormationOfJointVenture to label_GainLossFromFormationOfJointVenture_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ChangesInEquity" xlink:label="ChangesInEquity" xlink:title="ChangesInEquity" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangesInEquity" xml:lang="en-US" id="label_ChangesInEquity">Increase (decrease) in equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInEquity" xlink:to="label_ChangesInEquity" xlink:title="Label : ChangesInEquity to label_ChangesInEquity" />
    <link:label xlink:type="resource" xlink:label="label_ChangesInEquity_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ChangesInEquity_1" xml:lang="en-US" id="label_ChangesInEquity_1">Capital Reduction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangesInEquity" xlink:to="label_ChangesInEquity_1" xlink:title="Label : ChangesInEquity to label_ChangesInEquity_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContractualTerm" xlink:label="ContractualTerm" xlink:title="ContractualTerm" />
    <link:label xlink:type="resource" xlink:label="label_ContractualTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractualTerm" xml:lang="en-US" id="label_ContractualTerm">Contractual Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualTerm" xlink:to="label_ContractualTerm" xlink:title="Label : ContractualTerm to label_ContractualTerm" />
    <link:label xlink:type="resource" xlink:label="label_ContractualTerm_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContractualTerm_1" xml:lang="en-US" id="label_ContractualTerm_1">Contractual Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualTerm" xlink:to="label_ContractualTerm_1" xlink:title="Label : ContractualTerm to label_ContractualTerm_1" />
    <link:label xlink:type="resource" xlink:label="label_ContractualTerm_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContractualTerm_2" xml:lang="en-US" id="label_ContractualTerm_2">Contractual term.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualTerm" xlink:to="label_ContractualTerm_2" xlink:title="Label : ContractualTerm to label_ContractualTerm_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BidAmountAdjustedWithContratualParameters" xlink:label="BidAmountAdjustedWithContratualParameters" xlink:title="BidAmountAdjustedWithContratualParameters" />
    <link:label xlink:type="resource" xlink:label="label_BidAmountAdjustedWithContratualParameters" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BidAmountAdjustedWithContratualParameters" xml:lang="en-US" id="label_BidAmountAdjustedWithContratualParameters">Bid Amount Adjusted with Contratual Parameters</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BidAmountAdjustedWithContratualParameters" xlink:to="label_BidAmountAdjustedWithContratualParameters" xlink:title="Label : BidAmountAdjustedWithContratualParameters to label_BidAmountAdjustedWithContratualParameters" />
    <link:label xlink:type="resource" xlink:label="label_BidAmountAdjustedWithContratualParameters_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BidAmountAdjustedWithContratualParameters_1" xml:lang="en-US" id="label_BidAmountAdjustedWithContratualParameters_1">Bid Amount Adjusted with Contratual Parameters</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BidAmountAdjustedWithContratualParameters" xlink:to="label_BidAmountAdjustedWithContratualParameters_1" xlink:title="Label : BidAmountAdjustedWithContratualParameters to label_BidAmountAdjustedWithContratualParameters_1" />
    <link:label xlink:type="resource" xlink:label="label_BidAmountAdjustedWithContratualParameters_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BidAmountAdjustedWithContratualParameters_2" xml:lang="en-US" id="label_BidAmountAdjustedWithContratualParameters_2">Bid amount adjusted with contratual parameters.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BidAmountAdjustedWithContratualParameters" xlink:to="label_BidAmountAdjustedWithContratualParameters_2" xlink:title="Label : BidAmountAdjustedWithContratualParameters to label_BidAmountAdjustedWithContratualParameters_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BidAmount" xlink:label="BidAmount" xlink:title="BidAmount" />
    <link:label xlink:type="resource" xlink:label="label_BidAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BidAmount" xml:lang="en-US" id="label_BidAmount">Bid Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BidAmount" xlink:to="label_BidAmount" xlink:title="Label : BidAmount to label_BidAmount" />
    <link:label xlink:type="resource" xlink:label="label_BidAmount_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BidAmount_1" xml:lang="en-US" id="label_BidAmount_1">Bid Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BidAmount" xlink:to="label_BidAmount_1" xlink:title="Label : BidAmount to label_BidAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_BidAmount_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BidAmount_2" xml:lang="en-US" id="label_BidAmount_2">Bid amount.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BidAmount" xlink:to="label_BidAmount_2" xlink:title="Label : BidAmount to label_BidAmount_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ProportionOfOwnershipInterestInJointVenture" xlink:title="ProportionOfOwnershipInterestInJointVenture" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInJointVenture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProportionOfOwnershipInterestInJointVenture" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInJointVenture">Proportion of ownership interest in joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInJointVenture" xlink:to="label_ProportionOfOwnershipInterestInJointVenture" xlink:title="Label : ProportionOfOwnershipInterestInJointVenture to label_ProportionOfOwnershipInterestInJointVenture" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInJointVenture_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProportionOfOwnershipInterestInJointVenture_1" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInJointVenture_1">Ownership interest percentage in joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInJointVenture" xlink:to="label_ProportionOfOwnershipInterestInJointVenture_1" xlink:title="Label : ProportionOfOwnershipInterestInJointVenture to label_ProportionOfOwnershipInterestInJointVenture_1" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInJointVenture_2" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_ProportionOfOwnershipInterestInJointVenture_2" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInJointVenture_2">Proportion of ownership interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInJointVenture" xlink:to="label_ProportionOfOwnershipInterestInJointVenture_2" xlink:title="Label : ProportionOfOwnershipInterestInJointVenture to label_ProportionOfOwnershipInterestInJointVenture_2" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInJointVenture_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfOwnershipInterestInJointVenture_3" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInJointVenture_3">Proportion of ownership interest in joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInJointVenture" xlink:to="label_ProportionOfOwnershipInterestInJointVenture_3" xlink:title="Label : ProportionOfOwnershipInterestInJointVenture to label_ProportionOfOwnershipInterestInJointVenture_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentsForAuction" xlink:label="PaymentsForAuction" xlink:title="PaymentsForAuction" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForAuction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentsForAuction" xml:lang="en-US" id="label_PaymentsForAuction">Payments For Auction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForAuction" xlink:to="label_PaymentsForAuction" xlink:title="Label : PaymentsForAuction to label_PaymentsForAuction" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForAuction_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentsForAuction_1" xml:lang="en-US" id="label_PaymentsForAuction_1">Payments for auction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForAuction" xlink:to="label_PaymentsForAuction_1" xlink:title="Label : PaymentsForAuction to label_PaymentsForAuction_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentsForAuction_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentsForAuction_2" xml:lang="en-US" id="label_PaymentsForAuction_2">Payments for auction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForAuction" xlink:to="label_PaymentsForAuction_2" xlink:title="Label : PaymentsForAuction to label_PaymentsForAuction_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfCashPaymentInAuction" xlink:label="PercentageOfCashPaymentInAuction" xlink:title="PercentageOfCashPaymentInAuction" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCashPaymentInAuction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfCashPaymentInAuction" xml:lang="en-US" id="label_PercentageOfCashPaymentInAuction">Percentage Of Cash Payment In Auction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCashPaymentInAuction" xlink:to="label_PercentageOfCashPaymentInAuction" xlink:title="Label : PercentageOfCashPaymentInAuction to label_PercentageOfCashPaymentInAuction" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCashPaymentInAuction_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfCashPaymentInAuction_1" xml:lang="en-US" id="label_PercentageOfCashPaymentInAuction_1">Percentage of cash payment in auction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCashPaymentInAuction" xlink:to="label_PercentageOfCashPaymentInAuction_1" xlink:title="Label : PercentageOfCashPaymentInAuction to label_PercentageOfCashPaymentInAuction_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCashPaymentInAuction_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfCashPaymentInAuction_2" xml:lang="en-US" id="label_PercentageOfCashPaymentInAuction_2">Percentage of cash payment in auction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCashPaymentInAuction" xlink:to="label_PercentageOfCashPaymentInAuction_2" xlink:title="Label : PercentageOfCashPaymentInAuction to label_PercentageOfCashPaymentInAuction_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfPurchaseOptions" xlink:label="NumberOfPurchaseOptions" xlink:title="NumberOfPurchaseOptions" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPurchaseOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPurchaseOptions" xml:lang="en-US" id="label_NumberOfPurchaseOptions">Number Of Purchase Options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPurchaseOptions" xlink:to="label_NumberOfPurchaseOptions" xlink:title="Label : NumberOfPurchaseOptions to label_NumberOfPurchaseOptions" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPurchaseOptions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPurchaseOptions_1" xml:lang="en-US" id="label_NumberOfPurchaseOptions_1">Put options amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPurchaseOptions" xlink:to="label_NumberOfPurchaseOptions_1" xlink:title="Label : NumberOfPurchaseOptions to label_NumberOfPurchaseOptions_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPurchaseOptions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPurchaseOptions_2" xml:lang="en-US" id="label_NumberOfPurchaseOptions_2">Number of purchase options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPurchaseOptions" xlink:to="label_NumberOfPurchaseOptions_2" xlink:title="Label : NumberOfPurchaseOptions to label_NumberOfPurchaseOptions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:label="ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:title="ProceedsFromSaleOfEquitySharesHeldByControlledTrust" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xml:lang="en-US" id="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust">Proceeds From Sale Of Equity Shares Held By Controlled Trust</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:to="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:title="Label : ProceedsFromSaleOfEquitySharesHeldByControlledTrust to label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_1" xml:lang="en-US" id="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_1">Proceeds in Sales of stock in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:to="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_1" xlink:title="Label : ProceedsFromSaleOfEquitySharesHeldByControlledTrust to label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_2" xml:lang="en-US" id="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_2">Proceeds from sale of equity shares held by a controlled trust.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfEquitySharesHeldByControlledTrust" xlink:to="label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_2" xlink:title="Label : ProceedsFromSaleOfEquitySharesHeldByControlledTrust to label_ProceedsFromSaleOfEquitySharesHeldByControlledTrust_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenCombustiveisSAMember" xlink:label="RaizenCombustiveisSAMember" xlink:title="RaizenCombustiveisSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenCombustiveisSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenCombustiveisSAMember" xml:lang="en-US" id="label_RaizenCombustiveisSAMember">Raizen Combustiveis S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenCombustiveisSAMember" xlink:to="label_RaizenCombustiveisSAMember" xlink:title="Label : RaizenCombustiveisSAMember to label_RaizenCombustiveisSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenCombustiveisSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenCombustiveisSAMember_1" xml:lang="en-US" id="label_RaizenCombustiveisSAMember_1">Raizen Combustiveis S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenCombustiveisSAMember" xlink:to="label_RaizenCombustiveisSAMember_1" xlink:title="Label : RaizenCombustiveisSAMember to label_RaizenCombustiveisSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenCombustiveisSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenCombustiveisSAMember_2" xml:lang="en-US" id="label_RaizenCombustiveisSAMember_2">Raizen Combustiveis S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenCombustiveisSAMember" xlink:to="label_RaizenCombustiveisSAMember_2" xlink:title="Label : RaizenCombustiveisSAMember to label_RaizenCombustiveisSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubesInvestmentsLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLubesInvestmentsLimitedMember_1" xml:lang="en-US" id="label_CosanLubesInvestmentsLimitedMember_1">Cosan Lubes Investments Limited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubesInvestmentsLimitedMember" xlink:to="label_CosanLubesInvestmentsLimitedMember_1" xlink:title="Label : CosanLubesInvestmentsLimitedMember to label_CosanLubesInvestmentsLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubesInvestmentsLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLubesInvestmentsLimitedMember_2" xml:lang="en-US" id="label_CosanLubesInvestmentsLimitedMember_2">Cosan Lubes Investments Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubesInvestmentsLimitedMember" xlink:to="label_CosanLubesInvestmentsLimitedMember_2" xlink:title="Label : CosanLubesInvestmentsLimitedMember to label_CosanLubesInvestmentsLimitedMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubesInvestmentsLimitedMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLubesInvestmentsLimitedMember_3" xml:lang="en-US" id="label_CosanLubesInvestmentsLimitedMember_3">Cosan Lubes Investments Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubesInvestmentsLimitedMember" xlink:to="label_CosanLubesInvestmentsLimitedMember_3" xlink:title="Label : CosanLubesInvestmentsLimitedMember to label_CosanLubesInvestmentsLimitedMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoSAMember" xlink:label="RumoSAMember" xlink:title="RumoSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoSAMember" xml:lang="en-US" id="label_RumoSAMember">This member stands for the information pertaining to Rumo S.A..</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoSAMember" xlink:to="label_RumoSAMember" xlink:title="Label : RumoSAMember to label_RumoSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoSAMember_1" xml:lang="en-US" id="label_RumoSAMember_1">Rumo S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoSAMember" xlink:to="label_RumoSAMember_1" xlink:title="Label : RumoSAMember to label_RumoSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoSAMember_2" xml:lang="en-US" id="label_RumoSAMember_2">Rumo S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoSAMember" xlink:to="label_RumoSAMember_2" xlink:title="Label : RumoSAMember to label_RumoSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ComgasMember" xlink:label="ComgasMember" xlink:title="ComgasMember" />
    <link:label xlink:type="resource" xlink:label="label_ComgasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComgasMember" xml:lang="en-US" id="label_ComgasMember">Comgas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasMember" xlink:to="label_ComgasMember" xlink:title="Label : ComgasMember to label_ComgasMember" />
    <link:label xlink:type="resource" xlink:label="label_ComgasMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComgasMember_1" xml:lang="en-US" id="label_ComgasMember_1">Comgas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasMember" xlink:to="label_ComgasMember_1" xlink:title="Label : ComgasMember to label_ComgasMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ComgasMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ComgasMember_2" xml:lang="en-US" id="label_ComgasMember_2">Comgas.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasMember" xlink:to="label_ComgasMember_2" xlink:title="Label : ComgasMember to label_ComgasMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaPaulistaSAMember" xlink:label="RumoMalhaPaulistaSAMember" xlink:title="RumoMalhaPaulistaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaPaulistaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaPaulistaSAMember" xml:lang="en-US" id="label_RumoMalhaPaulistaSAMember">Rumo Malha Paulista SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaPaulistaSAMember" xlink:to="label_RumoMalhaPaulistaSAMember" xlink:title="Label : RumoMalhaPaulistaSAMember to label_RumoMalhaPaulistaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaPaulistaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaPaulistaSAMember_1" xml:lang="en-US" id="label_RumoMalhaPaulistaSAMember_1">Rumo Malha Paulista S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaPaulistaSAMember" xlink:to="label_RumoMalhaPaulistaSAMember_1" xlink:title="Label : RumoMalhaPaulistaSAMember to label_RumoMalhaPaulistaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaPaulistaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoMalhaPaulistaSAMember_2" xml:lang="en-US" id="label_RumoMalhaPaulistaSAMember_2">Rumo Malha Paulista SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaPaulistaSAMember" xlink:to="label_RumoMalhaPaulistaSAMember_2" xlink:title="Label : RumoMalhaPaulistaSAMember to label_RumoMalhaPaulistaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OwnershipStatusDomain" xlink:label="OwnershipStatusDomain" xlink:title="OwnershipStatusDomain" />
    <link:label xlink:type="resource" xlink:label="label_OwnershipStatusDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OwnershipStatusDomain" xml:lang="en-US" id="label_OwnershipStatusDomain">Ownership Status [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnershipStatusDomain" xlink:to="label_OwnershipStatusDomain" xlink:title="Label : OwnershipStatusDomain to label_OwnershipStatusDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="BusinessCombinationsAxis" xlink:title="BusinessCombinationsAxis" />
    <link:label xlink:type="resource" xlink:label="label_BusinessCombinationsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessCombinationsAxis" xml:lang="en-US" id="label_BusinessCombinationsAxis">Business combinations [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessCombinationsAxis" xlink:to="label_BusinessCombinationsAxis" xlink:title="Label : BusinessCombinationsAxis to label_BusinessCombinationsAxis" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OwnershipStatusAxis" xlink:label="OwnershipStatusAxis" xlink:title="OwnershipStatusAxis" />
    <link:label xlink:type="resource" xlink:label="label_OwnershipStatusAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OwnershipStatusAxis" xml:lang="en-US" id="label_OwnershipStatusAxis">Ownership Status [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnershipStatusAxis" xlink:to="label_OwnershipStatusAxis" xlink:title="Label : OwnershipStatusAxis to label_OwnershipStatusAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="EntitysTotalForBusinessCombinationsMember" xlink:title="EntitysTotalForBusinessCombinationsMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForBusinessCombinationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForBusinessCombinationsMember" xml:lang="en-US" id="label_EntitysTotalForBusinessCombinationsMember">Entity's total for business combinations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForBusinessCombinationsMember" xlink:to="label_EntitysTotalForBusinessCombinationsMember" xlink:title="Label : EntitysTotalForBusinessCombinationsMember to label_EntitysTotalForBusinessCombinationsMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenArgentinaMember" xlink:label="RaizenArgentinaMember" xlink:title="RaizenArgentinaMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenArgentinaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenArgentinaMember" xml:lang="en-US" id="label_RaizenArgentinaMember">Raizen argentina [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenArgentinaMember" xlink:to="label_RaizenArgentinaMember" xlink:title="Label : RaizenArgentinaMember to label_RaizenArgentinaMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenArgentinaMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenArgentinaMember_1" xml:lang="en-US" id="label_RaizenArgentinaMember_1">This member stands for the information pertaining to Raizen argentina.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenArgentinaMember" xlink:to="label_RaizenArgentinaMember_1" xlink:title="Label : RaizenArgentinaMember to label_RaizenArgentinaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenArgentinaMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenArgentinaMember_2" xml:lang="en-US" id="label_RaizenArgentinaMember_2">Raizen Argentina [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenArgentinaMember" xlink:to="label_RaizenArgentinaMember_2" xlink:title="Label : RaizenArgentinaMember to label_RaizenArgentinaMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="NonadjustingEventsAfterReportingPeriodAxis" xlink:title="NonadjustingEventsAfterReportingPeriodAxis" />
    <link:label xlink:type="resource" xlink:label="label_NonadjustingEventsAfterReportingPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonadjustingEventsAfterReportingPeriodAxis" xml:lang="en-US" id="label_NonadjustingEventsAfterReportingPeriodAxis">Non-adjusting events after reporting period [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsAfterReportingPeriodAxis" xlink:to="label_NonadjustingEventsAfterReportingPeriodAxis" xlink:title="Label : NonadjustingEventsAfterReportingPeriodAxis to label_NonadjustingEventsAfterReportingPeriodAxis" />
    <link:label xlink:type="resource" xlink:label="label_NonadjustingEventsAfterReportingPeriodAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonadjustingEventsAfterReportingPeriodAxis_1" xml:lang="en-US" id="label_NonadjustingEventsAfterReportingPeriodAxis_1">Non-adjusting events after reporting period [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsAfterReportingPeriodAxis" xlink:to="label_NonadjustingEventsAfterReportingPeriodAxis_1" xlink:title="Label : NonadjustingEventsAfterReportingPeriodAxis to label_NonadjustingEventsAfterReportingPeriodAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="NonadjustingEventsMember" xlink:title="NonadjustingEventsMember" />
    <link:label xlink:type="resource" xlink:label="label_NonadjustingEventsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonadjustingEventsMember" xml:lang="en-US" id="label_NonadjustingEventsMember">Non-adjusting events after reporting period [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsMember" xlink:to="label_NonadjustingEventsMember" xlink:title="Label : NonadjustingEventsMember to label_NonadjustingEventsMember" />
    <link:label xlink:type="resource" xlink:label="label_NonadjustingEventsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonadjustingEventsMember_1" xml:lang="en-US" id="label_NonadjustingEventsMember_1">Non-adjusting events after reporting period [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonadjustingEventsMember" xlink:to="label_NonadjustingEventsMember_1" xlink:title="Label : NonadjustingEventsMember to label_NonadjustingEventsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MajorOrdinaryShareTransactionsMember" xlink:label="MajorOrdinaryShareTransactionsMember" xlink:title="MajorOrdinaryShareTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_MajorOrdinaryShareTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorOrdinaryShareTransactionsMember" xml:lang="en-US" id="label_MajorOrdinaryShareTransactionsMember">Major ordinary share transactions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOrdinaryShareTransactionsMember" xlink:to="label_MajorOrdinaryShareTransactionsMember" xlink:title="Label : MajorOrdinaryShareTransactionsMember to label_MajorOrdinaryShareTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_MajorOrdinaryShareTransactionsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorOrdinaryShareTransactionsMember_1" xml:lang="en-US" id="label_MajorOrdinaryShareTransactionsMember_1">Major ordinary share transactions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorOrdinaryShareTransactionsMember" xlink:to="label_MajorOrdinaryShareTransactionsMember_1" xlink:title="Label : MajorOrdinaryShareTransactionsMember to label_MajorOrdinaryShareTransactionsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:label="RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:title="RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xml:lang="en-US" id="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember">RedeIntegrada De Lojas De Convenencias E Proximidade S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:to="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:title="Label : RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember to label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_1" xml:lang="en-US" id="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_1">This member stands for the information pertaining to Rede Integrada de Lojas de Convenencias e Proximidade S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:to="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_1" xlink:title="Label : RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember to label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_2" xml:lang="en-US" id="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_2">Rede Integrada de Lojas de Convenencias e Proximidade S.A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" xlink:to="label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_2" xlink:title="Label : RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember to label_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_CounterpartyNameAxis" xlink:label="CounterpartyNameAxis" xlink:title="CounterpartyNameAxis" />
    <link:label xlink:type="resource" xlink:label="label_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CounterpartyNameAxis" xml:lang="en-US" id="label_CounterpartyNameAxis">Counterparty Name [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CounterpartyNameAxis" xlink:to="label_CounterpartyNameAxis" xlink:title="Label : CounterpartyNameAxis to label_CounterpartyNameAxis" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RepurchaseAgreementCounterpartyNameDomain" xlink:label="RepurchaseAgreementCounterpartyNameDomain" xlink:title="RepurchaseAgreementCounterpartyNameDomain" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepurchaseAgreementCounterpartyNameDomain" xml:lang="en-US" id="label_RepurchaseAgreementCounterpartyNameDomain">Counterparty Name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreementCounterpartyNameDomain" xlink:to="label_RepurchaseAgreementCounterpartyNameDomain" xlink:title="Label : RepurchaseAgreementCounterpartyNameDomain to label_RepurchaseAgreementCounterpartyNameDomain" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BancoSantanderBrasilSAMember" xlink:label="BancoSantanderBrasilSAMember" xlink:title="BancoSantanderBrasilSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BancoSantanderBrasilSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BancoSantanderBrasilSAMember" xml:lang="en-US" id="label_BancoSantanderBrasilSAMember">Banco Santander Brasil S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BancoSantanderBrasilSAMember" xlink:to="label_BancoSantanderBrasilSAMember" xlink:title="Label : BancoSantanderBrasilSAMember to label_BancoSantanderBrasilSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BancoSantanderBrasilSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BancoSantanderBrasilSAMember_1" xml:lang="en-US" id="label_BancoSantanderBrasilSAMember_1">This member stands for the information pertaining to Banco Santander (Brasil) S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BancoSantanderBrasilSAMember" xlink:to="label_BancoSantanderBrasilSAMember_1" xlink:title="Label : BancoSantanderBrasilSAMember to label_BancoSantanderBrasilSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BancoSantanderBrasilSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BancoSantanderBrasilSAMember_2" xml:lang="en-US" id="label_BancoSantanderBrasilSAMember_2">Banco Santander (Brasil) S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BancoSantanderBrasilSAMember" xlink:to="label_BancoSantanderBrasilSAMember_2" xlink:title="Label : BancoSantanderBrasilSAMember to label_BancoSantanderBrasilSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ClassesOfFinancialAssetsAxis" xlink:title="ClassesOfFinancialAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfFinancialAssetsAxis" xml:lang="en-US" id="label_ClassesOfFinancialAssetsAxis">Classes of financial assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialAssetsAxis" xlink:to="label_ClassesOfFinancialAssetsAxis" xlink:title="Label : ClassesOfFinancialAssetsAxis to label_ClassesOfFinancialAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfFinancialAssetsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfFinancialAssetsAxis_1" xml:lang="en-US" id="label_ClassesOfFinancialAssetsAxis_1">Classes of financial assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialAssetsAxis" xlink:to="label_ClassesOfFinancialAssetsAxis_1" xlink:title="Label : ClassesOfFinancialAssetsAxis to label_ClassesOfFinancialAssetsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssetsMember" xlink:label="FinancialAssetsMember" xlink:title="FinancialAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsMember" xml:lang="en-US" id="label_FinancialAssetsMember">Financial assets, class [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMember" xlink:to="label_FinancialAssetsMember" xlink:title="Label : FinancialAssetsMember to label_FinancialAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsMember_1" xml:lang="en-US" id="label_FinancialAssetsMember_1">Financial assets, class [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsMember" xlink:to="label_FinancialAssetsMember_1" xlink:title="Label : FinancialAssetsMember to label_FinancialAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SwapContractForSharesMember" xlink:label="SwapContractForSharesMember" xlink:title="SwapContractForSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_SwapContractForSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SwapContractForSharesMember" xml:lang="en-US" id="label_SwapContractForSharesMember">Swap Contract for Shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SwapContractForSharesMember" xlink:to="label_SwapContractForSharesMember" xlink:title="Label : SwapContractForSharesMember to label_SwapContractForSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_SwapContractForSharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SwapContractForSharesMember_1" xml:lang="en-US" id="label_SwapContractForSharesMember_1">Swap agreements for shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SwapContractForSharesMember" xlink:to="label_SwapContractForSharesMember_1" xlink:title="Label : SwapContractForSharesMember to label_SwapContractForSharesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SwapContractForSharesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SwapContractForSharesMember_2" xml:lang="en-US" id="label_SwapContractForSharesMember_2">This member stands for the information pertaining to Swap contracts / agreements for shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SwapContractForSharesMember" xlink:to="label_SwapContractForSharesMember_2" xlink:title="Label : SwapContractForSharesMember to label_SwapContractForSharesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnusualOrInfrequentItemsAxis" xlink:label="UnusualOrInfrequentItemsAxis" xlink:title="UnusualOrInfrequentItemsAxis" />
    <link:label xlink:type="resource" xlink:label="label_UnusualOrInfrequentItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnusualOrInfrequentItemsAxis" xml:lang="en-US" id="label_UnusualOrInfrequentItemsAxis">Unusual or Infrequent Items, or Both [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusualOrInfrequentItemsAxis" xlink:to="label_UnusualOrInfrequentItemsAxis" xlink:title="Label : UnusualOrInfrequentItemsAxis to label_UnusualOrInfrequentItemsAxis" />
    <link:label xlink:type="resource" xlink:label="label_UnusualOrInfrequentItemsAxis_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnusualOrInfrequentItemsAxis_1" xml:lang="en-US" id="label_UnusualOrInfrequentItemsAxis_1">Information by an event or transaction that is unusual in nature or infrequent in occurrence, or both.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusualOrInfrequentItemsAxis" xlink:to="label_UnusualOrInfrequentItemsAxis_1" xlink:title="Label : UnusualOrInfrequentItemsAxis to label_UnusualOrInfrequentItemsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnusualOrInfrequentItemsDomain" xlink:label="UnusualOrInfrequentItemsDomain" xlink:title="UnusualOrInfrequentItemsDomain" />
    <link:label xlink:type="resource" xlink:label="label_UnusualOrInfrequentItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnusualOrInfrequentItemsDomain" xml:lang="en-US" id="label_UnusualOrInfrequentItemsDomain">Unusual or Infrequent Items, or Both [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusualOrInfrequentItemsDomain" xlink:to="label_UnusualOrInfrequentItemsDomain" xlink:title="Label : UnusualOrInfrequentItemsDomain to label_UnusualOrInfrequentItemsDomain" />
    <link:label xlink:type="resource" xlink:label="label_UnusualOrInfrequentItemsDomain_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnusualOrInfrequentItemsDomain_1" xml:lang="en-US" id="label_UnusualOrInfrequentItemsDomain_1">Event or transaction that is unusual in nature or infrequent in occurrence, or both.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusualOrInfrequentItemsDomain" xlink:to="label_UnusualOrInfrequentItemsDomain_1" xlink:title="Label : UnusualOrInfrequentItemsDomain to label_UnusualOrInfrequentItemsDomain_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CovidNineteenMember" xlink:label="CovidNineteenMember" xlink:title="CovidNineteenMember" />
    <link:label xlink:type="resource" xlink:label="label_CovidNineteenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CovidNineteenMember" xml:lang="en-US" id="label_CovidNineteenMember">Covid Nineteen [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CovidNineteenMember" xlink:to="label_CovidNineteenMember" xlink:title="Label : CovidNineteenMember to label_CovidNineteenMember" />
    <link:label xlink:type="resource" xlink:label="label_CovidNineteenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CovidNineteenMember_1" xml:lang="en-US" id="label_CovidNineteenMember_1">Covid 19 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CovidNineteenMember" xlink:to="label_CovidNineteenMember_1" xlink:title="Label : CovidNineteenMember to label_CovidNineteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CovidNineteenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CovidNineteenMember_2" xml:lang="en-US" id="label_CovidNineteenMember_2">Covid Nineteen [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CovidNineteenMember" xlink:to="label_CovidNineteenMember_2" xlink:title="Label : CovidNineteenMember to label_CovidNineteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SegmentsAxis" xlink:label="SegmentsAxis" xlink:title="SegmentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_SegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SegmentsAxis" xml:lang="en-US" id="label_SegmentsAxis">Segments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentsAxis" xlink:to="label_SegmentsAxis" xlink:title="Label : SegmentsAxis to label_SegmentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_SegmentsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SegmentsAxis_1" xml:lang="en-US" id="label_SegmentsAxis_1">Segments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentsAxis" xlink:to="label_SegmentsAxis_1" xlink:title="Label : SegmentsAxis to label_SegmentsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SegmentsMember" xlink:label="SegmentsMember" xlink:title="SegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_SegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SegmentsMember" xml:lang="en-US" id="label_SegmentsMember">Segments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentsMember" xlink:to="label_SegmentsMember" xlink:title="Label : SegmentsMember to label_SegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_SegmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SegmentsMember_1" xml:lang="en-US" id="label_SegmentsMember_1">Segments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentsMember" xlink:to="label_SegmentsMember_1" xlink:title="Label : SegmentsMember to label_SegmentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenCombustiveisMember" xlink:label="RaizenCombustiveisMember" xlink:title="RaizenCombustiveisMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenCombustiveisMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenCombustiveisMember" xml:lang="en-US" id="label_RaizenCombustiveisMember">Raizen Combustiveis [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenCombustiveisMember" xlink:to="label_RaizenCombustiveisMember" xlink:title="Label : RaizenCombustiveisMember to label_RaizenCombustiveisMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenCombustiveisMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenCombustiveisMember_1" xml:lang="en-US" id="label_RaizenCombustiveisMember_1">Raizen Combustiveis [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenCombustiveisMember" xlink:to="label_RaizenCombustiveisMember_1" xlink:title="Label : RaizenCombustiveisMember to label_RaizenCombustiveisMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenCombustiveisMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenCombustiveisMember_2" xml:lang="en-US" id="label_RaizenCombustiveisMember_2">Raizen Combustiveis.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenCombustiveisMember" xlink:to="label_RaizenCombustiveisMember_2" xlink:title="Label : RaizenCombustiveisMember to label_RaizenCombustiveisMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LogisticsMember" xlink:label="LogisticsMember" xlink:title="LogisticsMember" />
    <link:label xlink:type="resource" xlink:label="label_LogisticsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LogisticsMember" xml:lang="en-US" id="label_LogisticsMember">Logistics [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogisticsMember" xlink:to="label_LogisticsMember" xlink:title="Label : LogisticsMember to label_LogisticsMember" />
    <link:label xlink:type="resource" xlink:label="label_LogisticsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LogisticsMember_1" xml:lang="en-US" id="label_LogisticsMember_1">Logistics [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogisticsMember" xlink:to="label_LogisticsMember_1" xlink:title="Label : LogisticsMember to label_LogisticsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LogisticsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LogisticsMember_2" xml:lang="en-US" id="label_LogisticsMember_2">Logistics.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogisticsMember" xlink:to="label_LogisticsMember_2" xlink:title="Label : LogisticsMember to label_LogisticsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GasAndPowerMember" xlink:label="GasAndPowerMember" xlink:title="GasAndPowerMember" />
    <link:label xlink:type="resource" xlink:label="label_GasAndPowerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GasAndPowerMember" xml:lang="en-US" id="label_GasAndPowerMember">This member stands for the information pertaining to gas and power segment of an entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasAndPowerMember" xlink:to="label_GasAndPowerMember" xlink:title="Label : GasAndPowerMember to label_GasAndPowerMember" />
    <link:label xlink:type="resource" xlink:label="label_GasAndPowerMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GasAndPowerMember_1" xml:lang="en-US" id="label_GasAndPowerMember_1">Gas and Power [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasAndPowerMember" xlink:to="label_GasAndPowerMember_1" xlink:title="Label : GasAndPowerMember to label_GasAndPowerMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GasAndPowerMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GasAndPowerMember_2" xml:lang="en-US" id="label_GasAndPowerMember_2">Gas and Power [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasAndPowerMember" xlink:to="label_GasAndPowerMember_2" xlink:title="Label : GasAndPowerMember to label_GasAndPowerMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MooveMember" xlink:label="MooveMember" xlink:title="MooveMember" />
    <link:label xlink:type="resource" xlink:label="label_MooveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MooveMember" xml:lang="en-US" id="label_MooveMember">Moove [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveMember" xlink:to="label_MooveMember" xlink:title="Label : MooveMember to label_MooveMember" />
    <link:label xlink:type="resource" xlink:label="label_MooveMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MooveMember_1" xml:lang="en-US" id="label_MooveMember_1">Moove cash generating unit [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveMember" xlink:to="label_MooveMember_1" xlink:title="Label : MooveMember to label_MooveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MooveMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_MooveMember_2" xml:lang="en-US" id="label_MooveMember_2">Moove [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveMember" xlink:to="label_MooveMember_2" xlink:title="Label : MooveMember to label_MooveMember_2" />
    <link:label xlink:type="resource" xlink:label="label_MooveMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MooveMember_3" xml:lang="en-US" id="label_MooveMember_3">Moove.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveMember" xlink:to="label_MooveMember_3" xlink:title="Label : MooveMember to label_MooveMember_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ProductsAndServicesAxis" xlink:title="ProductsAndServicesAxis" />
    <link:label xlink:type="resource" xlink:label="label_ProductsAndServicesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProductsAndServicesAxis" xml:lang="en-US" id="label_ProductsAndServicesAxis">Products and services [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductsAndServicesAxis" xlink:to="label_ProductsAndServicesAxis" xlink:title="Label : ProductsAndServicesAxis to label_ProductsAndServicesAxis" />
    <link:label xlink:type="resource" xlink:label="label_ProductsAndServicesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProductsAndServicesAxis_1" xml:lang="en-US" id="label_ProductsAndServicesAxis_1">Products and services [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductsAndServicesAxis" xlink:to="label_ProductsAndServicesAxis_1" xlink:title="Label : ProductsAndServicesAxis to label_ProductsAndServicesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ProductsAndServicesMember" xlink:title="ProductsAndServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_ProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProductsAndServicesMember" xml:lang="en-US" id="label_ProductsAndServicesMember">Products and services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductsAndServicesMember" xlink:to="label_ProductsAndServicesMember" xlink:title="Label : ProductsAndServicesMember to label_ProductsAndServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_ProductsAndServicesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProductsAndServicesMember_1" xml:lang="en-US" id="label_ProductsAndServicesMember_1">Products and services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductsAndServicesMember" xlink:to="label_ProductsAndServicesMember_1" xlink:title="Label : ProductsAndServicesMember to label_ProductsAndServicesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FuelsMember" xlink:label="FuelsMember" xlink:title="FuelsMember" />
    <link:label xlink:type="resource" xlink:label="label_FuelsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FuelsMember" xml:lang="en-US" id="label_FuelsMember">Fuels [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelsMember" xlink:to="label_FuelsMember" xlink:title="Label : FuelsMember to label_FuelsMember" />
    <link:label xlink:type="resource" xlink:label="label_FuelsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FuelsMember_1" xml:lang="en-US" id="label_FuelsMember_1">Fuels [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelsMember" xlink:to="label_FuelsMember_1" xlink:title="Label : FuelsMember to label_FuelsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FuelsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FuelsMember_2" xml:lang="en-US" id="label_FuelsMember_2">Fuels.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelsMember" xlink:to="label_FuelsMember_2" xlink:title="Label : FuelsMember to label_FuelsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GasolineAndEthanolMember" xlink:label="GasolineAndEthanolMember" xlink:title="GasolineAndEthanolMember" />
    <link:label xlink:type="resource" xlink:label="label_GasolineAndEthanolMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GasolineAndEthanolMember" xml:lang="en-US" id="label_GasolineAndEthanolMember">Gasoline And Ethanol [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasolineAndEthanolMember" xlink:to="label_GasolineAndEthanolMember" xlink:title="Label : GasolineAndEthanolMember to label_GasolineAndEthanolMember" />
    <link:label xlink:type="resource" xlink:label="label_GasolineAndEthanolMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GasolineAndEthanolMember_1" xml:lang="en-US" id="label_GasolineAndEthanolMember_1">Gasoline and ethanol [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasolineAndEthanolMember" xlink:to="label_GasolineAndEthanolMember_1" xlink:title="Label : GasolineAndEthanolMember to label_GasolineAndEthanolMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GasolineAndEthanolMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GasolineAndEthanolMember_2" xml:lang="en-US" id="label_GasolineAndEthanolMember_2">Gasoline And Ethanol [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasolineAndEthanolMember" xlink:to="label_GasolineAndEthanolMember_2" xlink:title="Label : GasolineAndEthanolMember to label_GasolineAndEthanolMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AviationFuelsMember" xlink:label="AviationFuelsMember" xlink:title="AviationFuelsMember" />
    <link:label xlink:type="resource" xlink:label="label_AviationFuelsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AviationFuelsMember" xml:lang="en-US" id="label_AviationFuelsMember">Aviation Fuels [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AviationFuelsMember" xlink:to="label_AviationFuelsMember" xlink:title="Label : AviationFuelsMember to label_AviationFuelsMember" />
    <link:label xlink:type="resource" xlink:label="label_AviationFuelsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AviationFuelsMember_1" xml:lang="en-US" id="label_AviationFuelsMember_1">This member stands for an entity&#x2019;s activity related to distribution of aviation fuels.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AviationFuelsMember" xlink:to="label_AviationFuelsMember_1" xlink:title="Label : AviationFuelsMember to label_AviationFuelsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AviationFuelsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AviationFuelsMember_2" xml:lang="en-US" id="label_AviationFuelsMember_2">Aviation fuels [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AviationFuelsMember" xlink:to="label_AviationFuelsMember_2" xlink:title="Label : AviationFuelsMember to label_AviationFuelsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IndustrialSegmentMember" xlink:label="IndustrialSegmentMember" xlink:title="IndustrialSegmentMember" />
    <link:label xlink:type="resource" xlink:label="label_IndustrialSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndustrialSegmentMember" xml:lang="en-US" id="label_IndustrialSegmentMember">Industrial Segment [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialSegmentMember" xlink:to="label_IndustrialSegmentMember" xlink:title="Label : IndustrialSegmentMember to label_IndustrialSegmentMember" />
    <link:label xlink:type="resource" xlink:label="label_IndustrialSegmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndustrialSegmentMember_1" xml:lang="en-US" id="label_IndustrialSegmentMember_1">Industrial segment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialSegmentMember" xlink:to="label_IndustrialSegmentMember_1" xlink:title="Label : IndustrialSegmentMember to label_IndustrialSegmentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IndustrialSegmentMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndustrialSegmentMember_2" xml:lang="en-US" id="label_IndustrialSegmentMember_2">Industrial Segment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialSegmentMember" xlink:to="label_IndustrialSegmentMember_2" xlink:title="Label : IndustrialSegmentMember to label_IndustrialSegmentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommercialSegmentMember" xlink:label="CommercialSegmentMember" xlink:title="CommercialSegmentMember" />
    <link:label xlink:type="resource" xlink:label="label_CommercialSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommercialSegmentMember" xml:lang="en-US" id="label_CommercialSegmentMember">Commercial Segment [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialSegmentMember" xlink:to="label_CommercialSegmentMember" xlink:title="Label : CommercialSegmentMember to label_CommercialSegmentMember" />
    <link:label xlink:type="resource" xlink:label="label_CommercialSegmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommercialSegmentMember_1" xml:lang="en-US" id="label_CommercialSegmentMember_1">Commercial segment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialSegmentMember" xlink:to="label_CommercialSegmentMember_1" xlink:title="Label : CommercialSegmentMember to label_CommercialSegmentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommercialSegmentMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommercialSegmentMember_2" xml:lang="en-US" id="label_CommercialSegmentMember_2">Commercial Segment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialSegmentMember" xlink:to="label_CommercialSegmentMember_2" xlink:title="Label : CommercialSegmentMember to label_CommercialSegmentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ResidentialSegmentMember" xlink:label="ResidentialSegmentMember" xlink:title="ResidentialSegmentMember" />
    <link:label xlink:type="resource" xlink:label="label_ResidentialSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ResidentialSegmentMember" xml:lang="en-US" id="label_ResidentialSegmentMember">Residential Segment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResidentialSegmentMember" xlink:to="label_ResidentialSegmentMember" xlink:title="Label : ResidentialSegmentMember to label_ResidentialSegmentMember" />
    <link:label xlink:type="resource" xlink:label="label_ResidentialSegmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ResidentialSegmentMember_1" xml:lang="en-US" id="label_ResidentialSegmentMember_1">Residential Segment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResidentialSegmentMember" xlink:to="label_ResidentialSegmentMember_1" xlink:title="Label : ResidentialSegmentMember to label_ResidentialSegmentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ResidentialSegmentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ResidentialSegmentMember_2" xml:lang="en-US" id="label_ResidentialSegmentMember_2">Residential Segment [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResidentialSegmentMember" xlink:to="label_ResidentialSegmentMember_2" xlink:title="Label : ResidentialSegmentMember to label_ResidentialSegmentMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="GeographicalAreasAxis" xlink:title="GeographicalAreasAxis" />
    <link:label xlink:type="resource" xlink:label="label_GeographicalAreasAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeographicalAreasAxis" xml:lang="en-US" id="label_GeographicalAreasAxis">Geographical areas [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeographicalAreasAxis" xlink:to="label_GeographicalAreasAxis" xlink:title="Label : GeographicalAreasAxis to label_GeographicalAreasAxis" />
    <link:label xlink:type="resource" xlink:label="label_GeographicalAreasAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GeographicalAreasAxis_1" xml:lang="en-US" id="label_GeographicalAreasAxis_1">Geographical areas [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeographicalAreasAxis" xlink:to="label_GeographicalAreasAxis_1" xlink:title="Label : GeographicalAreasAxis to label_GeographicalAreasAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeographicalAreasMember" xlink:label="GeographicalAreasMember" xlink:title="GeographicalAreasMember" />
    <link:label xlink:type="resource" xlink:label="label_GeographicalAreasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeographicalAreasMember" xml:lang="en-US" id="label_GeographicalAreasMember">Geographical areas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeographicalAreasMember" xlink:to="label_GeographicalAreasMember" xlink:title="Label : GeographicalAreasMember to label_GeographicalAreasMember" />
    <link:label xlink:type="resource" xlink:label="label_GeographicalAreasMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GeographicalAreasMember_1" xml:lang="en-US" id="label_GeographicalAreasMember_1">Geographical areas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeographicalAreasMember" xlink:to="label_GeographicalAreasMember_1" xlink:title="Label : GeographicalAreasMember to label_GeographicalAreasMember_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2021/country-2021.xsd#country_BR" xlink:label="BR" xlink:title="BR" />
    <link:label xlink:type="resource" xlink:label="label_BR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BR" xml:lang="en-US" id="label_BR">Brazil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BR" xlink:to="label_BR" xlink:title="Label : BR to label_BR" />
    <link:label xlink:type="resource" xlink:label="label_BR_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BR_1" xml:lang="en-US" id="label_BR_1">BRAZIL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BR" xlink:to="label_BR_1" xlink:title="Label : BR to label_BR_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2021/country-2021.xsd#country_AR" xlink:label="AR" xlink:title="AR" />
    <link:label xlink:type="resource" xlink:label="label_AR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AR" xml:lang="en-US" id="label_AR">ARKANSAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AR" xlink:to="label_AR" xlink:title="Label : AR to label_AR" />
    <link:label xlink:type="resource" xlink:label="label_AR_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AR_1" xml:lang="en-US" id="label_AR_1">ARGENTINA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AR" xlink:to="label_AR_1" xlink:title="Label : AR to label_AR_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfDevelopmentOfCompanyLineItems" xlink:label="DisclosureOfDevelopmentOfCompanyLineItems" xlink:title="DisclosureOfDevelopmentOfCompanyLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDevelopmentOfCompanyLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDevelopmentOfCompanyLineItems" xml:lang="en-US" id="label_DisclosureOfDevelopmentOfCompanyLineItems">Disclosure of Development of Company [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDevelopmentOfCompanyLineItems" xlink:to="label_DisclosureOfDevelopmentOfCompanyLineItems" xlink:title="Label : DisclosureOfDevelopmentOfCompanyLineItems to label_DisclosureOfDevelopmentOfCompanyLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDevelopmentOfCompanyLineItems_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfDevelopmentOfCompanyLineItems_1" xml:lang="en-US" id="label_DisclosureOfDevelopmentOfCompanyLineItems_1">Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDevelopmentOfCompanyLineItems" xlink:to="label_DisclosureOfDevelopmentOfCompanyLineItems_1" xlink:title="Label : DisclosureOfDevelopmentOfCompanyLineItems to label_DisclosureOfDevelopmentOfCompanyLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDevelopmentOfCompanyLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDevelopmentOfCompanyLineItems_2" xml:lang="en-US" id="label_DisclosureOfDevelopmentOfCompanyLineItems_2">Development of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDevelopmentOfCompanyLineItems" xlink:to="label_DisclosureOfDevelopmentOfCompanyLineItems_2" xlink:title="Label : DisclosureOfDevelopmentOfCompanyLineItems to label_DisclosureOfDevelopmentOfCompanyLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssueOfEquity" xlink:label="IssueOfEquity" xlink:title="IssueOfEquity" />
    <link:label xlink:type="resource" xlink:label="label_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssueOfEquity" xml:lang="en-US" id="label_IssueOfEquity">Issue of equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity" xlink:title="Label : IssueOfEquity to label_IssueOfEquity" />
    <link:label xlink:type="resource" xlink:label="label_IssueOfEquity_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssueOfEquity_1" xml:lang="en-US" id="label_IssueOfEquity_1">Issue of shares for investment agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssueOfEquity" xlink:to="label_IssueOfEquity_1" xlink:title="Label : IssueOfEquity to label_IssueOfEquity_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:label="PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:title="PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xml:lang="en-US" id="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement">Percentage of Issuance of New Common Shares for Investment Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:to="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:title="Label : PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement to label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_1" xml:lang="en-US" id="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_1">The percentage of issuance of new common shares for investment agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:to="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_1" xlink:title="Label : PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement to label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_2" xml:lang="en-US" id="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_2">Percentage of issuance of new common shares for investment agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" xlink:to="label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_2" xlink:title="Label : PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement to label_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProceedsFromIssueOfOrdinaryShares" xlink:label="ProceedsFromIssueOfOrdinaryShares" xlink:title="ProceedsFromIssueOfOrdinaryShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOfOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssueOfOrdinaryShares" xml:lang="en-US" id="label_ProceedsFromIssueOfOrdinaryShares">Proceeds from issue of ordinary shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOfOrdinaryShares" xlink:to="label_ProceedsFromIssueOfOrdinaryShares" xlink:title="Label : ProceedsFromIssueOfOrdinaryShares to label_ProceedsFromIssueOfOrdinaryShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssueOfOrdinaryShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssueOfOrdinaryShares_1" xml:lang="en-US" id="label_ProceedsFromIssueOfOrdinaryShares_1">Proceeds from issue of share capital for investment agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssueOfOrdinaryShares" xlink:to="label_ProceedsFromIssueOfOrdinaryShares_1" xlink:title="Label : ProceedsFromIssueOfOrdinaryShares to label_ProceedsFromIssueOfOrdinaryShares_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContractualBidAmount" xlink:label="ContractualBidAmount" xlink:title="ContractualBidAmount" />
    <link:label xlink:type="resource" xlink:label="label_ContractualBidAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractualBidAmount" xml:lang="en-US" id="label_ContractualBidAmount">Contractual Bid Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualBidAmount" xlink:to="label_ContractualBidAmount" xlink:title="Label : ContractualBidAmount to label_ContractualBidAmount" />
    <link:label xlink:type="resource" xlink:label="label_ContractualBidAmount_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContractualBidAmount_1" xml:lang="en-US" id="label_ContractualBidAmount_1">The amount of contractual bid for concession contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualBidAmount" xlink:to="label_ContractualBidAmount_1" xlink:title="Label : ContractualBidAmount to label_ContractualBidAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_ContractualBidAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContractualBidAmount_2" xml:lang="en-US" id="label_ContractualBidAmount_2">Contractual bid amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualBidAmount" xlink:to="label_ContractualBidAmount_2" xlink:title="Label : ContractualBidAmount to label_ContractualBidAmount_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContractualBidAmountAdjustedWithContratualParameters" xlink:label="ContractualBidAmountAdjustedWithContratualParameters" xlink:title="ContractualBidAmountAdjustedWithContratualParameters" />
    <link:label xlink:type="resource" xlink:label="label_ContractualBidAmountAdjustedWithContratualParameters" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractualBidAmountAdjustedWithContratualParameters" xml:lang="en-US" id="label_ContractualBidAmountAdjustedWithContratualParameters">Contractual Bid Amount Adjusted with Contratual Parameters</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualBidAmountAdjustedWithContratualParameters" xlink:to="label_ContractualBidAmountAdjustedWithContratualParameters" xlink:title="Label : ContractualBidAmountAdjustedWithContratualParameters to label_ContractualBidAmountAdjustedWithContratualParameters" />
    <link:label xlink:type="resource" xlink:label="label_ContractualBidAmountAdjustedWithContratualParameters_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContractualBidAmountAdjustedWithContratualParameters_1" xml:lang="en-US" id="label_ContractualBidAmountAdjustedWithContratualParameters_1">The amount of contractual bid adjusted for concession contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualBidAmountAdjustedWithContratualParameters" xlink:to="label_ContractualBidAmountAdjustedWithContratualParameters_1" xlink:title="Label : ContractualBidAmountAdjustedWithContratualParameters to label_ContractualBidAmountAdjustedWithContratualParameters_1" />
    <link:label xlink:type="resource" xlink:label="label_ContractualBidAmountAdjustedWithContratualParameters_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContractualBidAmountAdjustedWithContratualParameters_2" xml:lang="en-US" id="label_ContractualBidAmountAdjustedWithContratualParameters_2">Contractual bid amount adjusted with contratual parameters</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualBidAmountAdjustedWithContratualParameters" xlink:to="label_ContractualBidAmountAdjustedWithContratualParameters_2" xlink:title="Label : ContractualBidAmountAdjustedWithContratualParameters to label_ContractualBidAmountAdjustedWithContratualParameters_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PeriodOfCashPaymentToBeMadeInAuction" xlink:label="PeriodOfCashPaymentToBeMadeInAuction" xlink:title="PeriodOfCashPaymentToBeMadeInAuction" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfCashPaymentToBeMadeInAuction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfCashPaymentToBeMadeInAuction" xml:lang="en-US" id="label_PeriodOfCashPaymentToBeMadeInAuction">Period of Cash Payment to be Made in Auction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfCashPaymentToBeMadeInAuction" xlink:to="label_PeriodOfCashPaymentToBeMadeInAuction" xlink:title="Label : PeriodOfCashPaymentToBeMadeInAuction to label_PeriodOfCashPaymentToBeMadeInAuction" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfCashPaymentToBeMadeInAuction_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodOfCashPaymentToBeMadeInAuction_1" xml:lang="en-US" id="label_PeriodOfCashPaymentToBeMadeInAuction_1">The period of cash payment to be made in auction for concession contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfCashPaymentToBeMadeInAuction" xlink:to="label_PeriodOfCashPaymentToBeMadeInAuction_1" xlink:title="Label : PeriodOfCashPaymentToBeMadeInAuction to label_PeriodOfCashPaymentToBeMadeInAuction_1" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfCashPaymentToBeMadeInAuction_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodOfCashPaymentToBeMadeInAuction_2" xml:lang="en-US" id="label_PeriodOfCashPaymentToBeMadeInAuction_2">Period of cash payment to be made in auction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfCashPaymentToBeMadeInAuction" xlink:to="label_PeriodOfCashPaymentToBeMadeInAuction_2" xlink:title="Label : PeriodOfCashPaymentToBeMadeInAuction to label_PeriodOfCashPaymentToBeMadeInAuction_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:label="NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:title="NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xml:lang="en-US" id="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement">Number of Quarterly Installments Calculated Pursuant to the Terms of The Concession Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:to="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:title="Label : NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement to label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_1" xml:lang="en-US" id="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_1">The number of quarterly installments calculated pursuant to the terms of the concession agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:to="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_1" xlink:title="Label : NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement to label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_2" xml:lang="en-US" id="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_2">Number of quarterly installments calculated pursuant to the terms of the concession agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" xlink:to="label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_2" xlink:title="Label : NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement to label_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentsInJointVentures" xlink:label="InvestmentsInJointVentures" xlink:title="InvestmentsInJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsInJointVentures" xml:lang="en-US" id="label_InvestmentsInJointVentures">Investments in joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInJointVentures" xlink:to="label_InvestmentsInJointVentures" xlink:title="Label : InvestmentsInJointVentures to label_InvestmentsInJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsInJointVentures_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsInJointVentures_1" xml:lang="en-US" id="label_InvestmentsInJointVentures_1">Investment in joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsInJointVentures" xlink:to="label_InvestmentsInJointVentures_1" xlink:title="Label : InvestmentsInJointVentures to label_InvestmentsInJointVentures_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:label="SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:title="SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" />
    <link:label xlink:type="resource" xlink:label="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xml:lang="en-US" id="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates">Number of shares in entity held by entity or by its subsidiaries or associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:title="Label : SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates to label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" />
    <link:label xlink:type="resource" xlink:label="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" xml:lang="en-US" id="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1">Shares held in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" xlink:title="Label : SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates to label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughOtherDistributionsToOwners" xlink:label="IncreaseDecreaseThroughOtherDistributionsToOwners" xlink:title="IncreaseDecreaseThroughOtherDistributionsToOwners" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherDistributionsToOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughOtherDistributionsToOwners" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherDistributionsToOwners">Decrease through other distributions to owners, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherDistributionsToOwners" xlink:to="label_IncreaseDecreaseThroughOtherDistributionsToOwners" xlink:title="Label : IncreaseDecreaseThroughOtherDistributionsToOwners to label_IncreaseDecreaseThroughOtherDistributionsToOwners" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherDistributionsToOwners_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughOtherDistributionsToOwners_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherDistributionsToOwners_1">Investment in subsidiary was derecognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherDistributionsToOwners" xlink:to="label_IncreaseDecreaseThroughOtherDistributionsToOwners_1" xlink:title="Label : IncreaseDecreaseThroughOtherDistributionsToOwners to label_IncreaseDecreaseThroughOtherDistributionsToOwners_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:label="MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:title="MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" />
    <link:label xlink:type="resource" xlink:label="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xml:lang="en-US" id="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement">Maximum Aggregate Amount of Derivatives which May be Negotiated Pursuant to Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:to="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:title="Label : MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement to label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" />
    <link:label xlink:type="resource" xlink:label="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_1" xml:lang="en-US" id="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_1">The maximum aggregate amount of derivatives which may be negotiated pursuant to agreement for derivative contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:to="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_1" xlink:title="Label : MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement to label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_1" />
    <link:label xlink:type="resource" xlink:label="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_2" xml:lang="en-US" id="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_2">Maximum aggregate amount of derivatives which may be negotiated pursuant to agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" xlink:to="label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_2" xlink:title="Label : MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement to label_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:label="MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:title="MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" />
    <link:label xlink:type="resource" xlink:label="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xml:lang="en-US" id="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement">Maximum Aggregate Number of Underlying Shares Pursuant to Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:to="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:title="Label : MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement to label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" />
    <link:label xlink:type="resource" xlink:label="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_1" xml:lang="en-US" id="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_1">The maximum aggregate number of underlying shares pursuant to agreement for derivative contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:to="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_1" xlink:title="Label : MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement to label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_1" />
    <link:label xlink:type="resource" xlink:label="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_2" xml:lang="en-US" id="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_2">Maximum aggregate number of underlying shares pursuant to agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" xlink:to="label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_2" xlink:title="Label : MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement to label_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NewGrantAmountForSubConcessionContracts" xlink:label="NewGrantAmountForSubConcessionContracts" xlink:title="NewGrantAmountForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_NewGrantAmountForSubConcessionContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewGrantAmountForSubConcessionContracts" xml:lang="en-US" id="label_NewGrantAmountForSubConcessionContracts">New Grant Amount for Sub Concession Contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewGrantAmountForSubConcessionContracts" xlink:to="label_NewGrantAmountForSubConcessionContracts" xlink:title="Label : NewGrantAmountForSubConcessionContracts to label_NewGrantAmountForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_NewGrantAmountForSubConcessionContracts_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NewGrantAmountForSubConcessionContracts_1" xml:lang="en-US" id="label_NewGrantAmountForSubConcessionContracts_1">The amount of new grant for sub-concession contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewGrantAmountForSubConcessionContracts" xlink:to="label_NewGrantAmountForSubConcessionContracts_1" xlink:title="Label : NewGrantAmountForSubConcessionContracts to label_NewGrantAmountForSubConcessionContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_NewGrantAmountForSubConcessionContracts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewGrantAmountForSubConcessionContracts_2" xml:lang="en-US" id="label_NewGrantAmountForSubConcessionContracts_2">New grant amount for sub-concession contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewGrantAmountForSubConcessionContracts" xlink:to="label_NewGrantAmountForSubConcessionContracts_2" xlink:title="Label : NewGrantAmountForSubConcessionContracts to label_NewGrantAmountForSubConcessionContracts_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RepaymentOfGrantsForSubConcessionContracts" xlink:label="RepaymentOfGrantsForSubConcessionContracts" xlink:title="RepaymentOfGrantsForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfGrantsForSubConcessionContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentOfGrantsForSubConcessionContracts" xml:lang="en-US" id="label_RepaymentOfGrantsForSubConcessionContracts">Repayment of Grants for Sub Concession Contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfGrantsForSubConcessionContracts" xlink:to="label_RepaymentOfGrantsForSubConcessionContracts" xlink:title="Label : RepaymentOfGrantsForSubConcessionContracts to label_RepaymentOfGrantsForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfGrantsForSubConcessionContracts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepaymentOfGrantsForSubConcessionContracts_1" xml:lang="en-US" id="label_RepaymentOfGrantsForSubConcessionContracts_1">Repayment of grants for sub-concession contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfGrantsForSubConcessionContracts" xlink:to="label_RepaymentOfGrantsForSubConcessionContracts_1" xlink:title="Label : RepaymentOfGrantsForSubConcessionContracts to label_RepaymentOfGrantsForSubConcessionContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentOfGrantsForSubConcessionContracts_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RepaymentOfGrantsForSubConcessionContracts_2" xml:lang="en-US" id="label_RepaymentOfGrantsForSubConcessionContracts_2">The cash outflow for repayment of grants for sub-concession contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfGrantsForSubConcessionContracts" xlink:to="label_RepaymentOfGrantsForSubConcessionContracts_2" xlink:title="Label : RepaymentOfGrantsForSubConcessionContracts to label_RepaymentOfGrantsForSubConcessionContracts_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:label="EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:title="EstimatedInvestmentsToBeMadeForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts" xml:lang="en-US" id="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts">Estimated Investments to be made for Sub Concession Contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:to="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:title="Label : EstimatedInvestmentsToBeMadeForSubConcessionContracts to label_EstimatedInvestmentsToBeMadeForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_1" xml:lang="en-US" id="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_1">The amount of an estimated investments to be made for sub-concession contracts under financial commitment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:to="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_1" xlink:title="Label : EstimatedInvestmentsToBeMadeForSubConcessionContracts to label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_2" xml:lang="en-US" id="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_2">Estimated investments to be made for sub-concession contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInvestmentsToBeMadeForSubConcessionContracts" xlink:to="label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_2" xlink:title="Label : EstimatedInvestmentsToBeMadeForSubConcessionContracts to label_EstimatedInvestmentsToBeMadeForSubConcessionContracts_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="ProceedsFromIssuingShares" xlink:title="ProceedsFromIssuingShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuingShares" xml:lang="en-US" id="label_ProceedsFromIssuingShares">Proceeds from issuing shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ProceedsFromIssuingShares" xlink:title="Label : ProceedsFromIssuingShares to label_ProceedsFromIssuingShares" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuingShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromIssuingShares_1" xml:lang="en-US" id="label_ProceedsFromIssuingShares_1">Proceeds from issue of share through follow-on offering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuingShares" xlink:to="label_ProceedsFromIssuingShares_1" xlink:title="Label : ProceedsFromIssuingShares to label_ProceedsFromIssuingShares_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="NumberOfSharesIssued" xlink:title="NumberOfSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_NumberOfSharesIssued" xml:lang="en-US" id="label_NumberOfSharesIssued">Number of shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesIssued_1" xml:lang="en-US" id="label_NumberOfSharesIssued_1">Number of shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_1" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:title="label_NumberOfSharesIssued_2" xml:lang="en-US" id="label_NumberOfSharesIssued_2">Shares delivered</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_2" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_2" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NumberOfSharesIssued_3" xml:lang="en-US" id="label_NumberOfSharesIssued_3">Shares issued by the subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_3" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_3" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_NumberOfSharesIssued_4" xml:lang="en-US" id="label_NumberOfSharesIssued_4">Shares issued by the joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_4" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_4" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NumberOfSharesIssued_5" xml:lang="en-US" id="label_NumberOfSharesIssued_5">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_5" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_5" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_6" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_NumberOfSharesIssued_6" xml:lang="en-US" id="label_NumberOfSharesIssued_6">Number of shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_6" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_6" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesIssued_7" xml:lang="en-US" id="label_NumberOfSharesIssued_7">Disposal of shares that were held in treasury</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_7" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_7" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ShareIssuePrice" xlink:label="ShareIssuePrice" xlink:title="ShareIssuePrice" />
    <link:label xlink:type="resource" xlink:label="label_ShareIssuePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareIssuePrice" xml:lang="en-US" id="label_ShareIssuePrice">Share Issue Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssuePrice" xlink:to="label_ShareIssuePrice" xlink:title="Label : ShareIssuePrice to label_ShareIssuePrice" />
    <link:label xlink:type="resource" xlink:label="label_ShareIssuePrice_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareIssuePrice_1" xml:lang="en-US" id="label_ShareIssuePrice_1">The share issue price.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssuePrice" xlink:to="label_ShareIssuePrice_1" xlink:title="Label : ShareIssuePrice to label_ShareIssuePrice_1" />
    <link:label xlink:type="resource" xlink:label="label_ShareIssuePrice_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareIssuePrice_2" xml:lang="en-US" id="label_ShareIssuePrice_2">Share issue price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssuePrice" xlink:to="label_ShareIssuePrice_2" xlink:title="Label : ShareIssuePrice to label_ShareIssuePrice_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfDecreasedConsumption" xlink:label="PercentageOfDecreasedConsumption" xlink:title="PercentageOfDecreasedConsumption" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedConsumption" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfDecreasedConsumption" xml:lang="en-US" id="label_PercentageOfDecreasedConsumption">Percentage of Decreased Consumption</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedConsumption" xlink:to="label_PercentageOfDecreasedConsumption" xlink:title="Label : PercentageOfDecreasedConsumption to label_PercentageOfDecreasedConsumption" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedConsumption_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfDecreasedConsumption_1" xml:lang="en-US" id="label_PercentageOfDecreasedConsumption_1">The percentage of the entity's decreased consumption in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedConsumption" xlink:to="label_PercentageOfDecreasedConsumption_1" xlink:title="Label : PercentageOfDecreasedConsumption to label_PercentageOfDecreasedConsumption_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedConsumption_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfDecreasedConsumption_2" xml:lang="en-US" id="label_PercentageOfDecreasedConsumption_2">Percentage of decreased consumption</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedConsumption" xlink:to="label_PercentageOfDecreasedConsumption_2" xlink:title="Label : PercentageOfDecreasedConsumption to label_PercentageOfDecreasedConsumption_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfDecreasedDemand" xlink:label="PercentageOfDecreasedDemand" xlink:title="PercentageOfDecreasedDemand" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfDecreasedDemand" xml:lang="en-US" id="label_PercentageOfDecreasedDemand">Percentage of Decreased Demand</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemand" xlink:to="label_PercentageOfDecreasedDemand" xlink:title="Label : PercentageOfDecreasedDemand to label_PercentageOfDecreasedDemand" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemand_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfDecreasedDemand_1" xml:lang="en-US" id="label_PercentageOfDecreasedDemand_1">The percentage of the entity's decreased demand in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemand" xlink:to="label_PercentageOfDecreasedDemand_1" xlink:title="Label : PercentageOfDecreasedDemand to label_PercentageOfDecreasedDemand_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemand_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfDecreasedDemand_2" xml:lang="en-US" id="label_PercentageOfDecreasedDemand_2">Percentage of decreased demand</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemand" xlink:to="label_PercentageOfDecreasedDemand_2" xlink:title="Label : PercentageOfDecreasedDemand to label_PercentageOfDecreasedDemand_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfDecreasedSales" xlink:label="PercentageOfDecreasedSales" xlink:title="PercentageOfDecreasedSales" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedSales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfDecreasedSales" xml:lang="en-US" id="label_PercentageOfDecreasedSales">Percentage of Decreased Sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedSales" xlink:to="label_PercentageOfDecreasedSales" xlink:title="Label : PercentageOfDecreasedSales to label_PercentageOfDecreasedSales" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedSales_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfDecreasedSales_1" xml:lang="en-US" id="label_PercentageOfDecreasedSales_1">The percentage of the entity's sales decreased in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedSales" xlink:to="label_PercentageOfDecreasedSales_1" xlink:title="Label : PercentageOfDecreasedSales to label_PercentageOfDecreasedSales_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedSales_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfDecreasedSales_2" xml:lang="en-US" id="label_PercentageOfDecreasedSales_2">Percentage of decreased sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedSales" xlink:to="label_PercentageOfDecreasedSales_2" xlink:title="Label : PercentageOfDecreasedSales to label_PercentageOfDecreasedSales_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_VolumeTransportedPerKilometer" xlink:label="VolumeTransportedPerKilometer" xlink:title="VolumeTransportedPerKilometer" />
    <link:label xlink:type="resource" xlink:label="label_VolumeTransportedPerKilometer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VolumeTransportedPerKilometer" xml:lang="en-US" id="label_VolumeTransportedPerKilometer">Volume transported per kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VolumeTransportedPerKilometer" xlink:to="label_VolumeTransportedPerKilometer" xlink:title="Label : VolumeTransportedPerKilometer to label_VolumeTransportedPerKilometer" />
    <link:label xlink:type="resource" xlink:label="label_VolumeTransportedPerKilometer_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VolumeTransportedPerKilometer_1" xml:lang="en-US" id="label_VolumeTransportedPerKilometer_1">The volume transported per kilometer used.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VolumeTransportedPerKilometer" xlink:to="label_VolumeTransportedPerKilometer_1" xlink:title="Label : VolumeTransportedPerKilometer to label_VolumeTransportedPerKilometer_1" />
    <link:label xlink:type="resource" xlink:label="label_VolumeTransportedPerKilometer_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VolumeTransportedPerKilometer_2" xml:lang="en-US" id="label_VolumeTransportedPerKilometer_2">Volume Transported Per Kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VolumeTransportedPerKilometer" xlink:to="label_VolumeTransportedPerKilometer_2" xlink:title="Label : VolumeTransportedPerKilometer to label_VolumeTransportedPerKilometer_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfIncreasedVolumeTransported" xlink:label="PercentageOfIncreasedVolumeTransported" xlink:title="PercentageOfIncreasedVolumeTransported" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedVolumeTransported" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfIncreasedVolumeTransported" xml:lang="en-US" id="label_PercentageOfIncreasedVolumeTransported">Percentage of Increased Volume Transported</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedVolumeTransported" xlink:to="label_PercentageOfIncreasedVolumeTransported" xlink:title="Label : PercentageOfIncreasedVolumeTransported to label_PercentageOfIncreasedVolumeTransported" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedVolumeTransported_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfIncreasedVolumeTransported_1" xml:lang="en-US" id="label_PercentageOfIncreasedVolumeTransported_1">The percentage of the entity's increased volume transported in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedVolumeTransported" xlink:to="label_PercentageOfIncreasedVolumeTransported_1" xlink:title="Label : PercentageOfIncreasedVolumeTransported to label_PercentageOfIncreasedVolumeTransported_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedVolumeTransported_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfIncreasedVolumeTransported_2" xml:lang="en-US" id="label_PercentageOfIncreasedVolumeTransported_2">Percentage of increased volume transported</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedVolumeTransported" xlink:to="label_PercentageOfIncreasedVolumeTransported_2" xlink:title="Label : PercentageOfIncreasedVolumeTransported to label_PercentageOfIncreasedVolumeTransported_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfDecreasedVolumeTransported" xlink:label="PercentageOfDecreasedVolumeTransported" xlink:title="PercentageOfDecreasedVolumeTransported" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedVolumeTransported" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfDecreasedVolumeTransported" xml:lang="en-US" id="label_PercentageOfDecreasedVolumeTransported">Percentage of Decreased Volume Transported</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedVolumeTransported" xlink:to="label_PercentageOfDecreasedVolumeTransported" xlink:title="Label : PercentageOfDecreasedVolumeTransported to label_PercentageOfDecreasedVolumeTransported" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedVolumeTransported_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfDecreasedVolumeTransported_1" xml:lang="en-US" id="label_PercentageOfDecreasedVolumeTransported_1">The percentage of the entity's decreased volume transported in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedVolumeTransported" xlink:to="label_PercentageOfDecreasedVolumeTransported_1" xlink:title="Label : PercentageOfDecreasedVolumeTransported to label_PercentageOfDecreasedVolumeTransported_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedVolumeTransported_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfDecreasedVolumeTransported_2" xml:lang="en-US" id="label_PercentageOfDecreasedVolumeTransported_2">Percentage of decreased volume transported</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedVolumeTransported" xlink:to="label_PercentageOfDecreasedVolumeTransported_2" xlink:title="Label : PercentageOfDecreasedVolumeTransported to label_PercentageOfDecreasedVolumeTransported_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfDecreasedDemandForTransportationOfGrains" xlink:label="PercentageOfDecreasedDemandForTransportationOfGrains" xlink:title="PercentageOfDecreasedDemandForTransportationOfGrains" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemandForTransportationOfGrains" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfDecreasedDemandForTransportationOfGrains" xml:lang="en-US" id="label_PercentageOfDecreasedDemandForTransportationOfGrains">Percentage of Decreased Demand for Transportation of Grains</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemandForTransportationOfGrains" xlink:to="label_PercentageOfDecreasedDemandForTransportationOfGrains" xlink:title="Label : PercentageOfDecreasedDemandForTransportationOfGrains to label_PercentageOfDecreasedDemandForTransportationOfGrains" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemandForTransportationOfGrains_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfDecreasedDemandForTransportationOfGrains_1" xml:lang="en-US" id="label_PercentageOfDecreasedDemandForTransportationOfGrains_1">The percentage of the entity's decreased demand for transportation of grains in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemandForTransportationOfGrains" xlink:to="label_PercentageOfDecreasedDemandForTransportationOfGrains_1" xlink:title="Label : PercentageOfDecreasedDemandForTransportationOfGrains to label_PercentageOfDecreasedDemandForTransportationOfGrains_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemandForTransportationOfGrains_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfDecreasedDemandForTransportationOfGrains_2" xml:lang="en-US" id="label_PercentageOfDecreasedDemandForTransportationOfGrains_2">Percentage of decreased demand for transportation of grains</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemandForTransportationOfGrains" xlink:to="label_PercentageOfDecreasedDemandForTransportationOfGrains_2" xlink:title="Label : PercentageOfDecreasedDemandForTransportationOfGrains to label_PercentageOfDecreasedDemandForTransportationOfGrains_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfDecreasedDemandForNaturalGas" xlink:label="PercentageOfDecreasedDemandForNaturalGas" xlink:title="PercentageOfDecreasedDemandForNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemandForNaturalGas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfDecreasedDemandForNaturalGas" xml:lang="en-US" id="label_PercentageOfDecreasedDemandForNaturalGas">Percentage of Decreased Demand for Natural Gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemandForNaturalGas" xlink:to="label_PercentageOfDecreasedDemandForNaturalGas" xlink:title="Label : PercentageOfDecreasedDemandForNaturalGas to label_PercentageOfDecreasedDemandForNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemandForNaturalGas_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfDecreasedDemandForNaturalGas_1" xml:lang="en-US" id="label_PercentageOfDecreasedDemandForNaturalGas_1">The percentage of the entity's decreased demand for natural gas in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemandForNaturalGas" xlink:to="label_PercentageOfDecreasedDemandForNaturalGas_1" xlink:title="Label : PercentageOfDecreasedDemandForNaturalGas to label_PercentageOfDecreasedDemandForNaturalGas_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfDecreasedDemandForNaturalGas_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfDecreasedDemandForNaturalGas_2" xml:lang="en-US" id="label_PercentageOfDecreasedDemandForNaturalGas_2">Percentage of decreased demand for natural gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfDecreasedDemandForNaturalGas" xlink:to="label_PercentageOfDecreasedDemandForNaturalGas_2" xlink:title="Label : PercentageOfDecreasedDemandForNaturalGas to label_PercentageOfDecreasedDemandForNaturalGas_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfIncreasedDemandForNaturalGas" xlink:label="PercentageOfIncreasedDemandForNaturalGas" xlink:title="PercentageOfIncreasedDemandForNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedDemandForNaturalGas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfIncreasedDemandForNaturalGas" xml:lang="en-US" id="label_PercentageOfIncreasedDemandForNaturalGas">Percentage of Increased Demand for Natural Gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedDemandForNaturalGas" xlink:to="label_PercentageOfIncreasedDemandForNaturalGas" xlink:title="Label : PercentageOfIncreasedDemandForNaturalGas to label_PercentageOfIncreasedDemandForNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedDemandForNaturalGas_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfIncreasedDemandForNaturalGas_1" xml:lang="en-US" id="label_PercentageOfIncreasedDemandForNaturalGas_1">The percentage of the entity's increased demand for natural gas in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedDemandForNaturalGas" xlink:to="label_PercentageOfIncreasedDemandForNaturalGas_1" xlink:title="Label : PercentageOfIncreasedDemandForNaturalGas to label_PercentageOfIncreasedDemandForNaturalGas_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedDemandForNaturalGas_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfIncreasedDemandForNaturalGas_2" xml:lang="en-US" id="label_PercentageOfIncreasedDemandForNaturalGas_2">Percentage of increased demand for natural gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedDemandForNaturalGas" xlink:to="label_PercentageOfIncreasedDemandForNaturalGas_2" xlink:title="Label : PercentageOfIncreasedDemandForNaturalGas to label_PercentageOfIncreasedDemandForNaturalGas_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfIncreasedVolumeSold" xlink:label="PercentageOfIncreasedVolumeSold" xlink:title="PercentageOfIncreasedVolumeSold" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedVolumeSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfIncreasedVolumeSold" xml:lang="en-US" id="label_PercentageOfIncreasedVolumeSold">Percentage of Increased Volume Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedVolumeSold" xlink:to="label_PercentageOfIncreasedVolumeSold" xlink:title="Label : PercentageOfIncreasedVolumeSold to label_PercentageOfIncreasedVolumeSold" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedVolumeSold_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfIncreasedVolumeSold_1" xml:lang="en-US" id="label_PercentageOfIncreasedVolumeSold_1">The percentage of the entity's increased volume sold in comparative period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedVolumeSold" xlink:to="label_PercentageOfIncreasedVolumeSold_1" xlink:title="Label : PercentageOfIncreasedVolumeSold to label_PercentageOfIncreasedVolumeSold_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfIncreasedVolumeSold_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfIncreasedVolumeSold_2" xml:lang="en-US" id="label_PercentageOfIncreasedVolumeSold_2">Percentage of increased volume sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfIncreasedVolumeSold" xlink:to="label_PercentageOfIncreasedVolumeSold_2" xlink:title="Label : PercentageOfIncreasedVolumeSold to label_PercentageOfIncreasedVolumeSold_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentAssetsLiabilities" xlink:label="CurrentAssetsLiabilities" xlink:title="CurrentAssetsLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssetsLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CurrentAssetsLiabilities" xml:lang="en-US" id="label_CurrentAssetsLiabilities">Net current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetsLiabilities" xlink:to="label_CurrentAssetsLiabilities" xlink:title="Label : CurrentAssetsLiabilities to label_CurrentAssetsLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssetsLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAssetsLiabilities_1" xml:lang="en-US" id="label_CurrentAssetsLiabilities_1">Current assets (liabilities)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetsLiabilities" xlink:to="label_CurrentAssetsLiabilities_1" xlink:title="Label : CurrentAssetsLiabilities to label_CurrentAssetsLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssetsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentAssetsLiabilities_2" xml:lang="en-US" id="label_CurrentAssetsLiabilities_2">Consolidated working capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetsLiabilities" xlink:to="label_CurrentAssetsLiabilities_2" xlink:title="Label : CurrentAssetsLiabilities to label_CurrentAssetsLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashAndCashEquivalentsAndMarketableSecurities" xlink:label="CashAndCashEquivalentsAndMarketableSecurities" xlink:title="CashAndCashEquivalentsAndMarketableSecurities" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAndMarketableSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashAndCashEquivalentsAndMarketableSecurities" xml:lang="en-US" id="label_CashAndCashEquivalentsAndMarketableSecurities">Cash And Cash Equivalents and Marketable Securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAndMarketableSecurities" xlink:to="label_CashAndCashEquivalentsAndMarketableSecurities" xlink:title="Label : CashAndCashEquivalentsAndMarketableSecurities to label_CashAndCashEquivalentsAndMarketableSecurities" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAndMarketableSecurities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsAndMarketableSecurities_1" xml:lang="en-US" id="label_CashAndCashEquivalentsAndMarketableSecurities_1">Cash and cash equivalents and marketable securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAndMarketableSecurities" xlink:to="label_CashAndCashEquivalentsAndMarketableSecurities_1" xlink:title="Label : CashAndCashEquivalentsAndMarketableSecurities to label_CashAndCashEquivalentsAndMarketableSecurities_1" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAndMarketableSecurities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsAndMarketableSecurities_2" xml:lang="en-US" id="label_CashAndCashEquivalentsAndMarketableSecurities_2">Cash And Cash Equivalents and Marketable Securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAndMarketableSecurities" xlink:to="label_CashAndCashEquivalentsAndMarketableSecurities_2" xlink:title="Label : CashAndCashEquivalentsAndMarketableSecurities to label_CashAndCashEquivalentsAndMarketableSecurities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:title="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xml:lang="en-US" id="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities">Proceeds from sales or maturity of financial instruments, classified as investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:title="Label : ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities to label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xml:lang="en-US" id="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1">Financing facilities drew down</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" xlink:title="Label : ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities to label_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:label="ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:title="ProceedsFromFinancingFacilitiesContractedByJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromFinancingFacilitiesContractedByJointVentures" xml:lang="en-US" id="label_ProceedsFromFinancingFacilitiesContractedByJointVentures">Proceeds from Financing Facilities Contracted by Joint Ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:to="label_ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:title="Label : ProceedsFromFinancingFacilitiesContractedByJointVentures to label_ProceedsFromFinancingFacilitiesContractedByJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_1" xml:lang="en-US" id="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_1">The cash inflow from sales or maturity of financing facilities contracted by joint ventures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:to="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_1" xlink:title="Label : ProceedsFromFinancingFacilitiesContractedByJointVentures to label_ProceedsFromFinancingFacilitiesContractedByJointVentures_1" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_2" xml:lang="en-US" id="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_2">Proceeds from financing facilities contracted by joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromFinancingFacilitiesContractedByJointVentures" xlink:to="label_ProceedsFromFinancingFacilitiesContractedByJointVentures_2" xlink:title="Label : ProceedsFromFinancingFacilitiesContractedByJointVentures to label_ProceedsFromFinancingFacilitiesContractedByJointVentures_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeverageRatio" xlink:label="LeverageRatio" xlink:title="LeverageRatio" />
    <link:label xlink:type="resource" xlink:label="label_LeverageRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeverageRatio" xml:lang="en-US" id="label_LeverageRatio">Leverage Ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeverageRatio" xlink:to="label_LeverageRatio" xlink:title="Label : LeverageRatio to label_LeverageRatio" />
    <link:label xlink:type="resource" xlink:label="label_LeverageRatio_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeverageRatio_1" xml:lang="en-US" id="label_LeverageRatio_1">The leverage ratio which is calculated by gross debt divided by pro forma EBITDA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeverageRatio" xlink:to="label_LeverageRatio_1" xlink:title="Label : LeverageRatio to label_LeverageRatio_1" />
    <link:label xlink:type="resource" xlink:label="label_LeverageRatio_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeverageRatio_2" xml:lang="en-US" id="label_LeverageRatio_2">Leverage ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeverageRatio" xlink:to="label_LeverageRatio_2" xlink:title="Label : LeverageRatio to label_LeverageRatio_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:label="DisclosureOfBusinessCombinationsTable" xlink:title="DisclosureOfBusinessCombinationsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBusinessCombinationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfBusinessCombinationsTable" xml:lang="en-US" id="label_DisclosureOfBusinessCombinationsTable">Disclosure of detailed information about business combination [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBusinessCombinationsTable" xlink:to="label_DisclosureOfBusinessCombinationsTable" xlink:title="Label : DisclosureOfBusinessCombinationsTable to label_DisclosureOfBusinessCombinationsTable" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLimitedMember" xlink:label="CosanLimitedMember" xlink:title="CosanLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLimitedMember" xml:lang="en-US" id="label_CosanLimitedMember">Cosan Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLimitedMember" xlink:to="label_CosanLimitedMember" xlink:title="Label : CosanLimitedMember to label_CosanLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLimitedMember_1" xml:lang="en-US" id="label_CosanLimitedMember_1">Cosan Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLimitedMember" xlink:to="label_CosanLimitedMember_1" xlink:title="Label : CosanLimitedMember to label_CosanLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLimitedMember_2" xml:lang="en-US" id="label_CosanLimitedMember_2">Cosan Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLimitedMember" xlink:to="label_CosanLimitedMember_2" xlink:title="Label : CosanLimitedMember to label_CosanLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfBusinessCombinationsLineItems" xlink:label="DisclosureOfBusinessCombinationsLineItems" xlink:title="DisclosureOfBusinessCombinationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBusinessCombinationsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfBusinessCombinationsLineItems" xml:lang="en-US" id="label_DisclosureOfBusinessCombinationsLineItems">Disclosure of detailed information about business combination [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBusinessCombinationsLineItems" xlink:to="label_DisclosureOfBusinessCombinationsLineItems" xlink:title="Label : DisclosureOfBusinessCombinationsLineItems to label_DisclosureOfBusinessCombinationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBusinessCombinationsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfBusinessCombinationsLineItems_1" xml:lang="en-US" id="label_DisclosureOfBusinessCombinationsLineItems_1">Disclosure of detailed information about business combination [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBusinessCombinationsLineItems" xlink:to="label_DisclosureOfBusinessCombinationsLineItems_1" xlink:title="Label : DisclosureOfBusinessCombinationsLineItems to label_DisclosureOfBusinessCombinationsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfBusinessCombinationsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DisclosureOfBusinessCombinationsLineItems_2" xml:lang="en-US" id="label_DisclosureOfBusinessCombinationsLineItems_2">Corporate reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfBusinessCombinationsLineItems" xlink:to="label_DisclosureOfBusinessCombinationsLineItems_2" xlink:title="Label : DisclosureOfBusinessCombinationsLineItems to label_DisclosureOfBusinessCombinationsLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConversionRatioPerShareOfAcquireeUponMerger" xlink:label="ConversionRatioPerShareOfAcquireeUponMerger" xlink:title="ConversionRatioPerShareOfAcquireeUponMerger" />
    <link:label xlink:type="resource" xlink:label="label_ConversionRatioPerShareOfAcquireeUponMerger" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionRatioPerShareOfAcquireeUponMerger" xml:lang="en-US" id="label_ConversionRatioPerShareOfAcquireeUponMerger">Conversion Ratio Per Share of Acquiree Upon Merger</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionRatioPerShareOfAcquireeUponMerger" xlink:to="label_ConversionRatioPerShareOfAcquireeUponMerger" xlink:title="Label : ConversionRatioPerShareOfAcquireeUponMerger to label_ConversionRatioPerShareOfAcquireeUponMerger" />
    <link:label xlink:type="resource" xlink:label="label_ConversionRatioPerShareOfAcquireeUponMerger_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionRatioPerShareOfAcquireeUponMerger_1" xml:lang="en-US" id="label_ConversionRatioPerShareOfAcquireeUponMerger_1">Conversion ratio per share of acquiree upon merger</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionRatioPerShareOfAcquireeUponMerger" xlink:to="label_ConversionRatioPerShareOfAcquireeUponMerger_1" xlink:title="Label : ConversionRatioPerShareOfAcquireeUponMerger to label_ConversionRatioPerShareOfAcquireeUponMerger_1" />
    <link:label xlink:type="resource" xlink:label="label_ConversionRatioPerShareOfAcquireeUponMerger_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConversionRatioPerShareOfAcquireeUponMerger_2" xml:lang="en-US" id="label_ConversionRatioPerShareOfAcquireeUponMerger_2">The conversion ratio per share of acquiree upon merger.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionRatioPerShareOfAcquireeUponMerger" xlink:to="label_ConversionRatioPerShareOfAcquireeUponMerger_2" xlink:title="Label : ConversionRatioPerShareOfAcquireeUponMerger to label_ConversionRatioPerShareOfAcquireeUponMerger_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConversionRatioPerShareOfAcquirerUponMerger" xlink:label="ConversionRatioPerShareOfAcquirerUponMerger" xlink:title="ConversionRatioPerShareOfAcquirerUponMerger" />
    <link:label xlink:type="resource" xlink:label="label_ConversionRatioPerShareOfAcquirerUponMerger" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConversionRatioPerShareOfAcquirerUponMerger" xml:lang="en-US" id="label_ConversionRatioPerShareOfAcquirerUponMerger">Conversion Ratio Per Share of Acquirer Upon Merger</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionRatioPerShareOfAcquirerUponMerger" xlink:to="label_ConversionRatioPerShareOfAcquirerUponMerger" xlink:title="Label : ConversionRatioPerShareOfAcquirerUponMerger to label_ConversionRatioPerShareOfAcquirerUponMerger" />
    <link:label xlink:type="resource" xlink:label="label_ConversionRatioPerShareOfAcquirerUponMerger_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConversionRatioPerShareOfAcquirerUponMerger_1" xml:lang="en-US" id="label_ConversionRatioPerShareOfAcquirerUponMerger_1">Conversion ratio per share of acquirer upon merger</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionRatioPerShareOfAcquirerUponMerger" xlink:to="label_ConversionRatioPerShareOfAcquirerUponMerger_1" xlink:title="Label : ConversionRatioPerShareOfAcquirerUponMerger to label_ConversionRatioPerShareOfAcquirerUponMerger_1" />
    <link:label xlink:type="resource" xlink:label="label_ConversionRatioPerShareOfAcquirerUponMerger_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConversionRatioPerShareOfAcquirerUponMerger_2" xml:lang="en-US" id="label_ConversionRatioPerShareOfAcquirerUponMerger_2">The conversion ratio per share of acquirer upon merger.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionRatioPerShareOfAcquirerUponMerger" xlink:to="label_ConversionRatioPerShareOfAcquirerUponMerger_2" xlink:title="Label : ConversionRatioPerShareOfAcquirerUponMerger to label_ConversionRatioPerShareOfAcquirerUponMerger_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ForeignExchangeRatesAbstract" xlink:label="ForeignExchangeRatesAbstract" xlink:title="ForeignExchangeRatesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ForeignExchangeRatesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForeignExchangeRatesAbstract" xml:lang="en-US" id="label_ForeignExchangeRatesAbstract">Foreign exchange rates [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignExchangeRatesAbstract" xlink:to="label_ForeignExchangeRatesAbstract" xlink:title="Label : ForeignExchangeRatesAbstract to label_ForeignExchangeRatesAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfForeignExchangeRatesTable" xlink:label="DisclosureOfForeignExchangeRatesTable" xlink:title="DisclosureOfForeignExchangeRatesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRatesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfForeignExchangeRatesTable" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRatesTable">Disclosure Of Foreign Exchange Rates [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRatesTable" xlink:to="label_DisclosureOfForeignExchangeRatesTable" xlink:title="Label : DisclosureOfForeignExchangeRatesTable to label_DisclosureOfForeignExchangeRatesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRatesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfForeignExchangeRatesTable_1" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRatesTable_1">Disclosure Of Foreign Exchange Rates [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRatesTable" xlink:to="label_DisclosureOfForeignExchangeRatesTable_1" xlink:title="Label : DisclosureOfForeignExchangeRatesTable to label_DisclosureOfForeignExchangeRatesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRatesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignExchangeRatesTable_2" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRatesTable_2">Disclosure Of Foreign Exchange Rates [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRatesTable" xlink:to="label_DisclosureOfForeignExchangeRatesTable_2" xlink:title="Label : DisclosureOfForeignExchangeRatesTable to label_DisclosureOfForeignExchangeRatesTable_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_CurrencyAxis" xlink:label="CurrencyAxis" xlink:title="CurrencyAxis" />
    <link:label xlink:type="resource" xlink:label="label_CurrencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrencyAxis" xml:lang="en-US" id="label_CurrencyAxis">Currency [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyAxis" xlink:to="label_CurrencyAxis" xlink:title="Label : CurrencyAxis to label_CurrencyAxis" />
    <link:label xlink:type="resource" xlink:label="label_CurrencyAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrencyAxis_1" xml:lang="en-US" id="label_CurrencyAxis_1">Currency [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyAxis" xlink:to="label_CurrencyAxis_1" xlink:title="Label : CurrencyAxis to label_CurrencyAxis_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2021/currency-2021.xsd#currency_AllCurrenciesDomain" xlink:label="AllCurrenciesDomain" xlink:title="AllCurrenciesDomain" />
    <link:label xlink:type="resource" xlink:label="label_AllCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllCurrenciesDomain" xml:lang="en-US" id="label_AllCurrenciesDomain">All Currencies [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllCurrenciesDomain" xlink:to="label_AllCurrenciesDomain" xlink:title="Label : AllCurrenciesDomain to label_AllCurrenciesDomain" />
    <link:label xlink:type="resource" xlink:label="label_AllCurrenciesDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllCurrenciesDomain_1" xml:lang="en-US" id="label_AllCurrenciesDomain_1">All Currencies [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllCurrenciesDomain" xlink:to="label_AllCurrenciesDomain_1" xlink:title="Label : AllCurrenciesDomain to label_AllCurrenciesDomain_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2021/currency-2021.xsd#currency_USD" xlink:label="USD" xlink:title="USD" />
    <link:label xlink:type="resource" xlink:label="label_USD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_USD" xml:lang="en-US" id="label_USD">United States of America, Dollars</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USD" xlink:to="label_USD" xlink:title="Label : USD to label_USD" />
    <link:label xlink:type="resource" xlink:label="label_USD_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_USD_1" xml:lang="en-US" id="label_USD_1">United States dollar (U.S.$) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USD" xlink:to="label_USD_1" xlink:title="Label : USD to label_USD_1" />
    <link:label xlink:type="resource" xlink:label="label_USD_2" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_USD_2" xml:lang="en-US" id="label_USD_2">Dollar (USD) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USD" xlink:to="label_USD_2" xlink:title="Label : USD to label_USD_2" />
    <link:label xlink:type="resource" xlink:label="label_USD_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USD_3" xml:lang="en-US" id="label_USD_3">U.S. dollar (U.S.$) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USD" xlink:to="label_USD_3" xlink:title="Label : USD to label_USD_3" />
    <link:label xlink:type="resource" xlink:label="label_USD_4" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:title="label_USD_4" xml:lang="en-US" id="label_USD_4">Dollar (USD) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USD" xlink:to="label_USD_4" xlink:title="Label : USD to label_USD_4" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2021/currency-2021.xsd#currency_GBP" xlink:label="GBP" xlink:title="GBP" />
    <link:label xlink:type="resource" xlink:label="label_GBP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GBP" xml:lang="en-US" id="label_GBP">United Kingdom, Pounds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBP" xlink:to="label_GBP" xlink:title="Label : GBP to label_GBP" />
    <link:label xlink:type="resource" xlink:label="label_GBP_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GBP_1" xml:lang="en-US" id="label_GBP_1">British pound (GBP) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBP" xlink:to="label_GBP_1" xlink:title="Label : GBP to label_GBP_1" />
    <link:label xlink:type="resource" xlink:label="label_GBP_2" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_GBP_2" xml:lang="en-US" id="label_GBP_2">Pound (GBP) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBP" xlink:to="label_GBP_2" xlink:title="Label : GBP to label_GBP_2" />
    <link:label xlink:type="resource" xlink:label="label_GBP_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GBP_3" xml:lang="en-US" id="label_GBP_3">British pound (GBP) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBP" xlink:to="label_GBP_3" xlink:title="Label : GBP to label_GBP_3" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2021/currency-2021.xsd#currency_EUR" xlink:label="EUR" xlink:title="EUR" />
    <link:label xlink:type="resource" xlink:label="label_EUR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EUR" xml:lang="en-US" id="label_EUR">Euro Member Countries, Euro</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EUR" xlink:to="label_EUR" xlink:title="Label : EUR to label_EUR" />
    <link:label xlink:type="resource" xlink:label="label_EUR_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EUR_1" xml:lang="en-US" id="label_EUR_1">Euro Member Countries, Euro</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EUR" xlink:to="label_EUR_1" xlink:title="Label : EUR to label_EUR_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfForeignExchangeRatesLineItems" xlink:label="DisclosureOfForeignExchangeRatesLineItems" xlink:title="DisclosureOfForeignExchangeRatesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRatesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfForeignExchangeRatesLineItems" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRatesLineItems">Disclosure of foreign exchange rates [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRatesLineItems" xlink:to="label_DisclosureOfForeignExchangeRatesLineItems" xlink:title="Label : DisclosureOfForeignExchangeRatesLineItems to label_DisclosureOfForeignExchangeRatesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRatesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfForeignExchangeRatesLineItems_1" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRatesLineItems_1">Disclosure of foreign exchange rates [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRatesLineItems" xlink:to="label_DisclosureOfForeignExchangeRatesLineItems_1" xlink:title="Label : DisclosureOfForeignExchangeRatesLineItems to label_DisclosureOfForeignExchangeRatesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRatesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignExchangeRatesLineItems_2" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRatesLineItems_2">Disclosure of foreign exchange rates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRatesLineItems" xlink:to="label_DisclosureOfForeignExchangeRatesLineItems_2" xlink:title="Label : DisclosureOfForeignExchangeRatesLineItems to label_DisclosureOfForeignExchangeRatesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ForeignCurrencyExchangeRate" xlink:label="ForeignCurrencyExchangeRate" xlink:title="ForeignCurrencyExchangeRate" />
    <link:label xlink:type="resource" xlink:label="label_ForeignCurrencyExchangeRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForeignCurrencyExchangeRate" xml:lang="en-US" id="label_ForeignCurrencyExchangeRate">Foreign Currency Exchange Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignCurrencyExchangeRate" xlink:to="label_ForeignCurrencyExchangeRate" xlink:title="Label : ForeignCurrencyExchangeRate to label_ForeignCurrencyExchangeRate" />
    <link:label xlink:type="resource" xlink:label="label_ForeignCurrencyExchangeRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForeignCurrencyExchangeRate_1" xml:lang="en-US" id="label_ForeignCurrencyExchangeRate_1">Foreign currency exchange rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignCurrencyExchangeRate" xlink:to="label_ForeignCurrencyExchangeRate_1" xlink:title="Label : ForeignCurrencyExchangeRate to label_ForeignCurrencyExchangeRate_1" />
    <link:label xlink:type="resource" xlink:label="label_ForeignCurrencyExchangeRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForeignCurrencyExchangeRate_2" xml:lang="en-US" id="label_ForeignCurrencyExchangeRate_2">Foreign currency exchange rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignCurrencyExchangeRate" xlink:to="label_ForeignCurrencyExchangeRate_2" xlink:title="Label : ForeignCurrencyExchangeRate to label_ForeignCurrencyExchangeRate_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfOperatingSegmentsAbstract" xlink:label="DisclosureOfOperatingSegmentsAbstract" xlink:title="DisclosureOfOperatingSegmentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperatingSegmentsAbstract" xml:lang="en-US" id="label_DisclosureOfOperatingSegmentsAbstract">Disclosure of operating segments [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperatingSegmentsAbstract" xlink:to="label_DisclosureOfOperatingSegmentsAbstract" xlink:title="Label : DisclosureOfOperatingSegmentsAbstract to label_DisclosureOfOperatingSegmentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xlink:label="AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xlink:title="AcquisitionsThroughBusinessCombinationsLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities">The increase in lease liabilities resulting from acquisitions through business combinations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xlink:to="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xlink:title="Label : AcquisitionsThroughBusinessCombinationsLeaseLiabilities to label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:label="DisclosureOfOperatingSegmentsTable" xlink:title="DisclosureOfOperatingSegmentsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperatingSegmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperatingSegmentsTable" xml:lang="en-US" id="label_DisclosureOfOperatingSegmentsTable">Disclosure of operating segments [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperatingSegmentsTable" xlink:to="label_DisclosureOfOperatingSegmentsTable" xlink:title="Label : DisclosureOfOperatingSegmentsTable to label_DisclosureOfOperatingSegmentsTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="SegmentConsolidationItemsAxis" xlink:title="SegmentConsolidationItemsAxis" />
    <link:label xlink:type="resource" xlink:label="label_SegmentConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SegmentConsolidationItemsAxis" xml:lang="en-US" id="label_SegmentConsolidationItemsAxis">Segment consolidation items [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentConsolidationItemsAxis" xlink:to="label_SegmentConsolidationItemsAxis" xlink:title="Label : SegmentConsolidationItemsAxis to label_SegmentConsolidationItemsAxis" />
    <link:label xlink:type="resource" xlink:label="label_SegmentConsolidationItemsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SegmentConsolidationItemsAxis_1" xml:lang="en-US" id="label_SegmentConsolidationItemsAxis_1">Segment consolidation items [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentConsolidationItemsAxis" xlink:to="label_SegmentConsolidationItemsAxis_1" xlink:title="Label : SegmentConsolidationItemsAxis to label_SegmentConsolidationItemsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="EntitysTotalForSegmentConsolidationItemsMember" xlink:title="EntitysTotalForSegmentConsolidationItemsMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForSegmentConsolidationItemsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForSegmentConsolidationItemsMember" xml:lang="en-US" id="label_EntitysTotalForSegmentConsolidationItemsMember">Entity's total for segment consolidation items [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForSegmentConsolidationItemsMember" xlink:to="label_EntitysTotalForSegmentConsolidationItemsMember" xlink:title="Label : EntitysTotalForSegmentConsolidationItemsMember to label_EntitysTotalForSegmentConsolidationItemsMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForSegmentConsolidationItemsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntitysTotalForSegmentConsolidationItemsMember_1" xml:lang="en-US" id="label_EntitysTotalForSegmentConsolidationItemsMember_1">Entity's total for segment consolidation items [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForSegmentConsolidationItemsMember" xlink:to="label_EntitysTotalForSegmentConsolidationItemsMember_1" xlink:title="Label : EntitysTotalForSegmentConsolidationItemsMember to label_EntitysTotalForSegmentConsolidationItemsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="OperatingSegmentsMember" xlink:title="OperatingSegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingSegmentsMember" xml:lang="en-US" id="label_OperatingSegmentsMember">Operating segments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingSegmentsMember" xlink:to="label_OperatingSegmentsMember" xlink:title="Label : OperatingSegmentsMember to label_OperatingSegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_OperatingSegmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingSegmentsMember_1" xml:lang="en-US" id="label_OperatingSegmentsMember_1">Operating segments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingSegmentsMember" xlink:to="label_OperatingSegmentsMember_1" xlink:title="Label : OperatingSegmentsMember to label_OperatingSegmentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnallocatedAmountsMember" xlink:label="UnallocatedAmountsMember" xlink:title="UnallocatedAmountsMember" />
    <link:label xlink:type="resource" xlink:label="label_UnallocatedAmountsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnallocatedAmountsMember" xml:lang="en-US" id="label_UnallocatedAmountsMember">Unallocated amounts [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnallocatedAmountsMember" xlink:to="label_UnallocatedAmountsMember" xlink:title="Label : UnallocatedAmountsMember to label_UnallocatedAmountsMember" />
    <link:label xlink:type="resource" xlink:label="label_UnallocatedAmountsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnallocatedAmountsMember_1" xml:lang="en-US" id="label_UnallocatedAmountsMember_1">Unallocated amounts [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnallocatedAmountsMember" xlink:to="label_UnallocatedAmountsMember_1" xlink:title="Label : UnallocatedAmountsMember to label_UnallocatedAmountsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:label="FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:title="FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" />
    <link:label xlink:type="resource" xlink:label="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xml:lang="en-US" id="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:to="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:title="Label : FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue to label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="EliminationOfIntersegmentAmountsMember" xlink:title="EliminationOfIntersegmentAmountsMember" />
    <link:label xlink:type="resource" xlink:label="label_EliminationOfIntersegmentAmountsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EliminationOfIntersegmentAmountsMember" xml:lang="en-US" id="label_EliminationOfIntersegmentAmountsMember">Elimination of intersegment amounts [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EliminationOfIntersegmentAmountsMember" xlink:to="label_EliminationOfIntersegmentAmountsMember" xlink:title="Label : EliminationOfIntersegmentAmountsMember to label_EliminationOfIntersegmentAmountsMember" />
    <link:label xlink:type="resource" xlink:label="label_EliminationOfIntersegmentAmountsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EliminationOfIntersegmentAmountsMember_1" xml:lang="en-US" id="label_EliminationOfIntersegmentAmountsMember_1">Elimination of intersegment amounts [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EliminationOfIntersegmentAmountsMember" xlink:to="label_EliminationOfIntersegmentAmountsMember_1" xlink:title="Label : EliminationOfIntersegmentAmountsMember to label_EliminationOfIntersegmentAmountsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenEnergiaMember" xlink:label="RaizenEnergiaMember" xlink:title="RaizenEnergiaMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenEnergiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenEnergiaMember" xml:lang="en-US" id="label_RaizenEnergiaMember">Raizen Energia [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenEnergiaMember" xlink:to="label_RaizenEnergiaMember" xlink:title="Label : RaizenEnergiaMember to label_RaizenEnergiaMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenEnergiaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenEnergiaMember_1" xml:lang="en-US" id="label_RaizenEnergiaMember_1">Raizen Energia S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenEnergiaMember" xlink:to="label_RaizenEnergiaMember_1" xlink:title="Label : RaizenEnergiaMember to label_RaizenEnergiaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenEnergiaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenEnergiaMember_2" xml:lang="en-US" id="label_RaizenEnergiaMember_2">Raizen Energia.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenEnergiaMember" xlink:to="label_RaizenEnergiaMember_2" xlink:title="Label : RaizenEnergiaMember to label_RaizenEnergiaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompanhiaDeGasDeSaoPauloMember" xlink:label="CompanhiaDeGasDeSaoPauloMember" xlink:title="CompanhiaDeGasDeSaoPauloMember" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDeSaoPauloMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompanhiaDeGasDeSaoPauloMember" xml:lang="en-US" id="label_CompanhiaDeGasDeSaoPauloMember">Companhia De Gas De Sao Paulo [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDeSaoPauloMember" xlink:to="label_CompanhiaDeGasDeSaoPauloMember" xlink:title="Label : CompanhiaDeGasDeSaoPauloMember to label_CompanhiaDeGasDeSaoPauloMember" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDeSaoPauloMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompanhiaDeGasDeSaoPauloMember_1" xml:lang="en-US" id="label_CompanhiaDeGasDeSaoPauloMember_1">Companhia de Gas de Sao Paulo - COMGAS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDeSaoPauloMember" xlink:to="label_CompanhiaDeGasDeSaoPauloMember_1" xlink:title="Label : CompanhiaDeGasDeSaoPauloMember to label_CompanhiaDeGasDeSaoPauloMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDeSaoPauloMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompanhiaDeGasDeSaoPauloMember_2" xml:lang="en-US" id="label_CompanhiaDeGasDeSaoPauloMember_2">Companhia de gas de sao paulo.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDeSaoPauloMember" xlink:to="label_CompanhiaDeGasDeSaoPauloMember_2" xlink:title="Label : CompanhiaDeGasDeSaoPauloMember to label_CompanhiaDeGasDeSaoPauloMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanCorporateMember" xlink:label="CosanCorporateMember" xlink:title="CosanCorporateMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanCorporateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanCorporateMember" xml:lang="en-US" id="label_CosanCorporateMember">Cosan Corporate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCorporateMember" xlink:to="label_CosanCorporateMember" xlink:title="Label : CosanCorporateMember to label_CosanCorporateMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanCorporateMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanCorporateMember_1" xml:lang="en-US" id="label_CosanCorporateMember_1">Cosan Corporate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCorporateMember" xlink:to="label_CosanCorporateMember_1" xlink:title="Label : CosanCorporateMember to label_CosanCorporateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanCorporateMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanCorporateMember_2" xml:lang="en-US" id="label_CosanCorporateMember_2">Cosan Corporate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCorporateMember" xlink:to="label_CosanCorporateMember_2" xlink:title="Label : CosanCorporateMember to label_CosanCorporateMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CountryOfDomicileMember" xlink:label="CountryOfDomicileMember" xlink:title="CountryOfDomicileMember" />
    <link:label xlink:type="resource" xlink:label="label_CountryOfDomicileMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CountryOfDomicileMember" xml:lang="en-US" id="label_CountryOfDomicileMember">Country of domicile [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CountryOfDomicileMember" xlink:to="label_CountryOfDomicileMember" xlink:title="Label : CountryOfDomicileMember to label_CountryOfDomicileMember" />
    <link:label xlink:type="resource" xlink:label="label_CountryOfDomicileMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CountryOfDomicileMember_1" xml:lang="en-US" id="label_CountryOfDomicileMember_1">Domestic market [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CountryOfDomicileMember" xlink:to="label_CountryOfDomicileMember_1" xlink:title="Label : CountryOfDomicileMember to label_CountryOfDomicileMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ForeignCountriesMember" xlink:label="ForeignCountriesMember" xlink:title="ForeignCountriesMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignCountriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForeignCountriesMember" xml:lang="en-US" id="label_ForeignCountriesMember">Foreign countries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignCountriesMember" xlink:to="label_ForeignCountriesMember" xlink:title="Label : ForeignCountriesMember to label_ForeignCountriesMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignCountriesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForeignCountriesMember_1" xml:lang="en-US" id="label_ForeignCountriesMember_1">External market [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignCountriesMember" xlink:to="label_ForeignCountriesMember_1" xlink:title="Label : ForeignCountriesMember to label_ForeignCountriesMember_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="StatementGeographicalAxis" xlink:title="StatementGeographicalAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementGeographicalAxis" xml:lang="en-US" id="label_StatementGeographicalAxis">Geographical [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementGeographicalAxis" xlink:to="label_StatementGeographicalAxis" xlink:title="Label : StatementGeographicalAxis to label_StatementGeographicalAxis" />
    <link:label xlink:type="resource" xlink:label="label_StatementGeographicalAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementGeographicalAxis_1" xml:lang="en-US" id="label_StatementGeographicalAxis_1">Geographical [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementGeographicalAxis" xlink:to="label_StatementGeographicalAxis_1" xlink:title="Label : StatementGeographicalAxis to label_StatementGeographicalAxis_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="SegmentGeographicalDomain" xlink:title="SegmentGeographicalDomain" />
    <link:label xlink:type="resource" xlink:label="label_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SegmentGeographicalDomain" xml:lang="en-US" id="label_SegmentGeographicalDomain">Geographical [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentGeographicalDomain" xlink:to="label_SegmentGeographicalDomain" xlink:title="Label : SegmentGeographicalDomain to label_SegmentGeographicalDomain" />
    <link:label xlink:type="resource" xlink:label="label_SegmentGeographicalDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SegmentGeographicalDomain_1" xml:lang="en-US" id="label_SegmentGeographicalDomain_1">Geographical [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentGeographicalDomain" xlink:to="label_SegmentGeographicalDomain_1" xlink:title="Label : SegmentGeographicalDomain to label_SegmentGeographicalDomain_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:label="DisclosureOfOperatingSegmentsLineItems" xlink:title="DisclosureOfOperatingSegmentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperatingSegmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperatingSegmentsLineItems" xml:lang="en-US" id="label_DisclosureOfOperatingSegmentsLineItems">Disclosure of operating segments [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperatingSegmentsLineItems" xlink:to="label_DisclosureOfOperatingSegmentsLineItems" xlink:title="Label : DisclosureOfOperatingSegmentsLineItems to label_DisclosureOfOperatingSegmentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperatingSegmentsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOperatingSegmentsLineItems_1" xml:lang="en-US" id="label_DisclosureOfOperatingSegmentsLineItems_1">Disclosure of operating segments [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperatingSegmentsLineItems" xlink:to="label_DisclosureOfOperatingSegmentsLineItems_1" xlink:title="Label : DisclosureOfOperatingSegmentsLineItems to label_DisclosureOfOperatingSegmentsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GrossRevenue" xlink:label="GrossRevenue" xlink:title="GrossRevenue" />
    <link:label xlink:type="resource" xlink:label="label_GrossRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossRevenue" xml:lang="en-US" id="label_GrossRevenue">Gross Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossRevenue" xlink:to="label_GrossRevenue" xlink:title="Label : GrossRevenue to label_GrossRevenue" />
    <link:label xlink:type="resource" xlink:label="label_GrossRevenue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrossRevenue_1" xml:lang="en-US" id="label_GrossRevenue_1">Gross Sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossRevenue" xlink:to="label_GrossRevenue_1" xlink:title="Label : GrossRevenue to label_GrossRevenue_1" />
    <link:label xlink:type="resource" xlink:label="label_GrossRevenue_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GrossRevenue_2" xml:lang="en-US" id="label_GrossRevenue_2">Gross Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossRevenue" xlink:to="label_GrossRevenue_2" xlink:title="Label : GrossRevenue to label_GrossRevenue_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SellingExpense" xlink:label="SellingExpense" xlink:title="SellingExpense" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_SellingExpense" xml:lang="en-US" id="label_SellingExpense">Selling expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense" xlink:to="label_SellingExpense" xlink:title="Label : SellingExpense to label_SellingExpense" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SellingExpense_1" xml:lang="en-US" id="label_SellingExpense_1">Selling expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense" xlink:to="label_SellingExpense_1" xlink:title="Label : SellingExpense to label_SellingExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_GeneralAndAdministrativeExpense" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense">General and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense" xlink:title="Label : GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeneralAndAdministrativeExpense_1" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense_1">General and administrative expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense_1" xlink:title="Label : GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherSelectedDataAbstract" xlink:label="OtherSelectedDataAbstract" xlink:title="OtherSelectedDataAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OtherSelectedDataAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherSelectedDataAbstract" xml:lang="en-US" id="label_OtherSelectedDataAbstract">Other Selected Data [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSelectedDataAbstract" xlink:to="label_OtherSelectedDataAbstract" xlink:title="Label : OtherSelectedDataAbstract to label_OtherSelectedDataAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OtherSelectedDataAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherSelectedDataAbstract_1" xml:lang="en-US" id="label_OtherSelectedDataAbstract_1">Other select data</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSelectedDataAbstract" xlink:to="label_OtherSelectedDataAbstract_1" xlink:title="Label : OtherSelectedDataAbstract to label_OtherSelectedDataAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherSelectedDataAbstract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherSelectedDataAbstract_2" xml:lang="en-US" id="label_OtherSelectedDataAbstract_2">Other selected data.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSelectedDataAbstract" xlink:to="label_OtherSelectedDataAbstract_2" xlink:title="Label : OtherSelectedDataAbstract to label_OtherSelectedDataAbstract_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense" xlink:title="Label : DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationAndAmortisationExpense_1" xml:lang="en-US" id="label_DepreciationAndAmortisationExpense_1">Depreciation and amortisation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense_1" xlink:title="Label : DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationAndAmortisationExpense_2" xml:lang="en-US" id="label_DepreciationAndAmortisationExpense_2">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense_2" xlink:title="Label : DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense_2" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationAndAmortisationExpense_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DepreciationAndAmortisationExpense_3" xml:lang="en-US" id="label_DepreciationAndAmortisationExpense_3">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortisationExpense" xlink:to="label_DepreciationAndAmortisationExpense_3" xlink:title="Label : DepreciationAndAmortisationExpense to label_DepreciationAndAmortisationExpense_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:label="EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:title="EarningsBeforeInterestTaxDepreciationAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EarningsBeforeInterestTaxDepreciationAndAmortization" xml:lang="en-US" id="label_EarningsBeforeInterestTaxDepreciationAndAmortization">Earnings before interest, tax, depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:to="label_EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:title="Label : EarningsBeforeInterestTaxDepreciationAndAmortization to label_EarningsBeforeInterestTaxDepreciationAndAmortization" />
    <link:label xlink:type="resource" xlink:label="label_EarningsBeforeInterestTaxDepreciationAndAmortization_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsBeforeInterestTaxDepreciationAndAmortization_1" xml:lang="en-US" id="label_EarningsBeforeInterestTaxDepreciationAndAmortization_1">EBITDA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:to="label_EarningsBeforeInterestTaxDepreciationAndAmortization_1" xlink:title="Label : EarningsBeforeInterestTaxDepreciationAndAmortization to label_EarningsBeforeInterestTaxDepreciationAndAmortization_1" />
    <link:label xlink:type="resource" xlink:label="label_EarningsBeforeInterestTaxDepreciationAndAmortization_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsBeforeInterestTaxDepreciationAndAmortization_2" xml:lang="en-US" id="label_EarningsBeforeInterestTaxDepreciationAndAmortization_2">Earnings before interest, tax, depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:to="label_EarningsBeforeInterestTaxDepreciationAndAmortization_2" xlink:title="Label : EarningsBeforeInterestTaxDepreciationAndAmortization to label_EarningsBeforeInterestTaxDepreciationAndAmortization_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:label="AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:title="AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xml:lang="en-US" id="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets">Additions to Property Plant and Equipment Intangible and Contract Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:to="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:title="Label : AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets to label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_1" xml:lang="en-US" id="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_1">Additions to PP&amp;E, intangible and contract asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:to="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_1" xlink:title="Label : AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets to label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_2" xml:lang="en-US" id="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_2">The amount of additions to property, plant and equipment, intangible and contract assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" xlink:to="label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_2" xlink:title="Label : AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets to label_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:label="ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:title="ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xml:lang="en-US" id="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract">Reconciliation Of Earnings Before Interest Tax Depreciation And Amortization [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:to="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:title="Label : ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract to label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_1" xml:lang="en-US" id="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_1">Reconciliation of EBITDA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:to="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_1" xlink:title="Label : ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract to label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_2" xml:lang="en-US" id="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_2">Reconciliation of earnings before interest tax depreciation and amortization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" xlink:to="label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_2" xlink:title="Label : ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract to label_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NominalValueOfHedgingInstruments" xlink:label="NominalValueOfHedgingInstruments" xlink:title="NominalValueOfHedgingInstruments" />
    <link:label xlink:type="resource" xlink:label="label_NominalValueOfHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NominalValueOfHedgingInstruments" xml:lang="en-US" id="label_NominalValueOfHedgingInstruments">Positions to be settled</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalValueOfHedgingInstruments" xlink:to="label_NominalValueOfHedgingInstruments" xlink:title="Label : NominalValueOfHedgingInstruments to label_NominalValueOfHedgingInstruments" />
    <link:label xlink:type="resource" xlink:label="label_NominalValueOfHedgingInstruments_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NominalValueOfHedgingInstruments_1" xml:lang="en-US" id="label_NominalValueOfHedgingInstruments_1">Nominal Value of Hedging Instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalValueOfHedgingInstruments" xlink:to="label_NominalValueOfHedgingInstruments_1" xlink:title="Label : NominalValueOfHedgingInstruments to label_NominalValueOfHedgingInstruments_1" />
    <link:label xlink:type="resource" xlink:label="label_NominalValueOfHedgingInstruments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NominalValueOfHedgingInstruments_2" xml:lang="en-US" id="label_NominalValueOfHedgingInstruments_2">The nominal value of hedging instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalValueOfHedgingInstruments" xlink:to="label_NominalValueOfHedgingInstruments_2" xlink:title="Label : NominalValueOfHedgingInstruments to label_NominalValueOfHedgingInstruments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MarketableSecurities1" xlink:label="MarketableSecurities1" xlink:title="MarketableSecurities1" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecurities1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecurities1" xml:lang="en-US" id="label_MarketableSecurities1">Marketable Securities1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecurities1" xlink:to="label_MarketableSecurities1" xlink:title="Label : MarketableSecurities1 to label_MarketableSecurities1" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecurities1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecurities1_1" xml:lang="en-US" id="label_MarketableSecurities1_1">Marketable securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecurities1" xlink:to="label_MarketableSecurities1_1" xlink:title="Label : MarketableSecurities1 to label_MarketableSecurities1_1" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecurities1_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecurities1_2" xml:lang="en-US" id="label_MarketableSecurities1_2">Marketable Securities1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecurities1" xlink:to="label_MarketableSecurities1_2" xlink:title="Label : MarketableSecurities1 to label_MarketableSecurities1_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeReceivables" xlink:label="TradeReceivables" xlink:title="TradeReceivables" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TradeReceivables" xml:lang="en-US" id="label_TradeReceivables">Trades receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivables" xlink:to="label_TradeReceivables" xlink:title="Label : TradeReceivables to label_TradeReceivables" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeReceivables_1" xml:lang="en-US" id="label_TradeReceivables_1">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivables" xlink:to="label_TradeReceivables_1" xlink:title="Label : TradeReceivables to label_TradeReceivables_1" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivables_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeReceivables_2" xml:lang="en-US" id="label_TradeReceivables_2">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivables" xlink:to="label_TradeReceivables_2" xlink:title="Label : TradeReceivables to label_TradeReceivables_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="DerivativeFinancialAssets" xlink:title="DerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialAssets" xml:lang="en-US" id="label_DerivativeFinancialAssets">Derivative financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialAssets" xlink:to="label_DerivativeFinancialAssets" xlink:title="Label : DerivativeFinancialAssets to label_DerivativeFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DerivativeFinancialAssets_1" xml:lang="en-US" id="label_DerivativeFinancialAssets_1">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialAssets" xlink:to="label_DerivativeFinancialAssets_1" xlink:title="Label : DerivativeFinancialAssets to label_DerivativeFinancialAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialAssets_2" xml:lang="en-US" id="label_DerivativeFinancialAssets_2">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialAssets" xlink:to="label_DerivativeFinancialAssets_2" xlink:title="Label : DerivativeFinancialAssets to label_DerivativeFinancialAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherFinancialAssets" xlink:label="OtherFinancialAssets" xlink:title="OtherFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinancialAssets" xml:lang="en-US" id="label_OtherFinancialAssets">Other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssets" xlink:to="label_OtherFinancialAssets" xlink:title="Label : OtherFinancialAssets to label_OtherFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherFinancialAssets_1" xml:lang="en-US" id="label_OtherFinancialAssets_1">Other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssets" xlink:to="label_OtherFinancialAssets_1" xlink:title="Label : OtherFinancialAssets to label_OtherFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherCurrentAssetsOther" xlink:label="OtherCurrentAssetsOther" xlink:title="OtherCurrentAssetsOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentAssetsOther" xml:lang="en-US" id="label_OtherCurrentAssetsOther">Other current assets other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsOther" xlink:to="label_OtherCurrentAssetsOther" xlink:title="Label : OtherCurrentAssetsOther to label_OtherCurrentAssetsOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsOther_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentAssetsOther_1" xml:lang="en-US" id="label_OtherCurrentAssetsOther_1">Other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsOther" xlink:to="label_OtherCurrentAssetsOther_1" xlink:title="Label : OtherCurrentAssetsOther to label_OtherCurrentAssetsOther_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsOther_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherCurrentAssetsOther_2" xml:lang="en-US" id="label_OtherCurrentAssetsOther_2">Other current assets other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsOther" xlink:to="label_OtherCurrentAssetsOther_2" xlink:title="Label : OtherCurrentAssetsOther to label_OtherCurrentAssetsOther_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherNonCurrentAssetsOther" xlink:label="OtherNonCurrentAssetsOther" xlink:title="OtherNonCurrentAssetsOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherNonCurrentAssetsOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNonCurrentAssetsOther" xml:lang="en-US" id="label_OtherNonCurrentAssetsOther">Other Non Current Assets Others</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNonCurrentAssetsOther" xlink:to="label_OtherNonCurrentAssetsOther" xlink:title="Label : OtherNonCurrentAssetsOther to label_OtherNonCurrentAssetsOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherNonCurrentAssetsOther_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherNonCurrentAssetsOther_1" xml:lang="en-US" id="label_OtherNonCurrentAssetsOther_1">Other non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNonCurrentAssetsOther" xlink:to="label_OtherNonCurrentAssetsOther_1" xlink:title="Label : OtherNonCurrentAssetsOther to label_OtherNonCurrentAssetsOther_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherNonCurrentAssetsOther_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherNonCurrentAssetsOther_2" xml:lang="en-US" id="label_OtherNonCurrentAssetsOther_2">Other non current assets others.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNonCurrentAssetsOther" xlink:to="label_OtherNonCurrentAssetsOther_2" xlink:title="Label : OtherNonCurrentAssetsOther to label_OtherNonCurrentAssetsOther_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BiologicalAssets" xlink:label="BiologicalAssets" xlink:title="BiologicalAssets" />
    <link:label xlink:type="resource" xlink:label="label_BiologicalAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BiologicalAssets" xml:lang="en-US" id="label_BiologicalAssets">Biological assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiologicalAssets" xlink:to="label_BiologicalAssets" xlink:title="Label : BiologicalAssets to label_BiologicalAssets" />
    <link:label xlink:type="resource" xlink:label="label_BiologicalAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BiologicalAssets_1" xml:lang="en-US" id="label_BiologicalAssets_1">Biological assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiologicalAssets" xlink:to="label_BiologicalAssets_1" xlink:title="Label : BiologicalAssets to label_BiologicalAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Borrowings" xlink:label="Borrowings" xlink:title="Borrowings" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_Borrowings" xml:lang="en-US" id="label_Borrowings">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings" xlink:title="Label : Borrowings to label_Borrowings" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings_1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_Borrowings_1" xml:lang="en-US" id="label_Borrowings_1">Beginning Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_1" xlink:title="Label : Borrowings to label_Borrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Borrowings_2" xml:lang="en-US" id="label_Borrowings_2">Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_2" xlink:title="Label : Borrowings to label_Borrowings_2" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Borrowings_3" xml:lang="en-US" id="label_Borrowings_3">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_3" xlink:title="Label : Borrowings to label_Borrowings_3" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings_4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_Borrowings_4" xml:lang="en-US" id="label_Borrowings_4">Loans, borrowings and debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_4" xlink:title="Label : Borrowings to label_Borrowings_4" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings_5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Borrowings_5" xml:lang="en-US" id="label_Borrowings_5">Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_5" xlink:title="Label : Borrowings to label_Borrowings_5" />
    <link:label xlink:type="resource" xlink:label="label_Borrowings_6" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_Borrowings_6" xml:lang="en-US" id="label_Borrowings_6">Loans, financing and debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Borrowings" xlink:to="label_Borrowings_6" xlink:title="Label : Borrowings to label_Borrowings_6" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="DerivativeFinancialLiabilities" xlink:title="DerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialLiabilities" xml:lang="en-US" id="label_DerivativeFinancialLiabilities">Derivative financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialLiabilities" xlink:to="label_DerivativeFinancialLiabilities" xlink:title="Label : DerivativeFinancialLiabilities to label_DerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DerivativeFinancialLiabilities_1" xml:lang="en-US" id="label_DerivativeFinancialLiabilities_1">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialLiabilities" xlink:to="label_DerivativeFinancialLiabilities_1" xlink:title="Label : DerivativeFinancialLiabilities to label_DerivativeFinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_DerivativeFinancialLiabilities_2" xml:lang="en-US" id="label_DerivativeFinancialLiabilities_2">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialLiabilities" xlink:to="label_DerivativeFinancialLiabilities_2" xlink:title="Label : DerivativeFinancialLiabilities to label_DerivativeFinancialLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradePayable" xlink:label="TradePayable" xlink:title="TradePayable" />
    <link:label xlink:type="resource" xlink:label="label_TradePayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradePayable" xml:lang="en-US" id="label_TradePayable">Trade payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayable" xlink:to="label_TradePayable" xlink:title="Label : TradePayable to label_TradePayable" />
    <link:label xlink:type="resource" xlink:label="label_TradePayable_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TradePayable_1" xml:lang="en-US" id="label_TradePayable_1">Trade payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayable" xlink:to="label_TradePayable_1" xlink:title="Label : TradePayable to label_TradePayable_1" />
    <link:label xlink:type="resource" xlink:label="label_TradePayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradePayable_2" xml:lang="en-US" id="label_TradePayable_2">Trade payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayable" xlink:to="label_TradePayable_2" xlink:title="Label : TradePayable to label_TradePayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SectorFinancialLiabilities" xlink:label="SectorFinancialLiabilities" xlink:title="SectorFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SectorFinancialLiabilities" xml:lang="en-US" id="label_SectorFinancialLiabilities">Sector financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilities" xlink:to="label_SectorFinancialLiabilities" xlink:title="Label : SectorFinancialLiabilities to label_SectorFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SectorFinancialLiabilities_1" xml:lang="en-US" id="label_SectorFinancialLiabilities_1">Sector Financial Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilities" xlink:to="label_SectorFinancialLiabilities_1" xlink:title="Label : SectorFinancialLiabilities to label_SectorFinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SectorFinancialLiabilities_2" xml:lang="en-US" id="label_SectorFinancialLiabilities_2">The amount of sector financial liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilities" xlink:to="label_SectorFinancialLiabilities_2" xlink:title="Label : SectorFinancialLiabilities to label_SectorFinancialLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherCurrentLiabilitiesClassifiedAsOther" xlink:label="OtherCurrentLiabilitiesClassifiedAsOther" xlink:title="OtherCurrentLiabilitiesClassifiedAsOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentLiabilitiesClassifiedAsOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentLiabilitiesClassifiedAsOther" xml:lang="en-US" id="label_OtherCurrentLiabilitiesClassifiedAsOther">Other Current Liabilities Classified As Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentLiabilitiesClassifiedAsOther" xlink:to="label_OtherCurrentLiabilitiesClassifiedAsOther" xlink:title="Label : OtherCurrentLiabilitiesClassifiedAsOther to label_OtherCurrentLiabilitiesClassifiedAsOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentLiabilitiesClassifiedAsOther_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherCurrentLiabilitiesClassifiedAsOther_1" xml:lang="en-US" id="label_OtherCurrentLiabilitiesClassifiedAsOther_1">Other current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentLiabilitiesClassifiedAsOther" xlink:to="label_OtherCurrentLiabilitiesClassifiedAsOther_1" xlink:title="Label : OtherCurrentLiabilitiesClassifiedAsOther to label_OtherCurrentLiabilitiesClassifiedAsOther_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentLiabilitiesClassifiedAsOther_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherCurrentLiabilitiesClassifiedAsOther_2" xml:lang="en-US" id="label_OtherCurrentLiabilitiesClassifiedAsOther_2">Other current liabilities classified as other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentLiabilitiesClassifiedAsOther" xlink:to="label_OtherCurrentLiabilitiesClassifiedAsOther_2" xlink:title="Label : OtherCurrentLiabilitiesClassifiedAsOther to label_OtherCurrentLiabilitiesClassifiedAsOther_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeaseLiabilitiesFinance" xlink:label="LeaseLiabilitiesFinance" xlink:title="LeaseLiabilitiesFinance" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesFinance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseLiabilitiesFinance" xml:lang="en-US" id="label_LeaseLiabilitiesFinance">Lease Liabilities Finance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesFinance" xlink:to="label_LeaseLiabilitiesFinance" xlink:title="Label : LeaseLiabilitiesFinance to label_LeaseLiabilitiesFinance" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesFinance_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_LeaseLiabilitiesFinance_1" xml:lang="en-US" id="label_LeaseLiabilitiesFinance_1">Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesFinance" xlink:to="label_LeaseLiabilitiesFinance_1" xlink:title="Label : LeaseLiabilitiesFinance to label_LeaseLiabilitiesFinance_1" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesFinance_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseLiabilitiesFinance_2" xml:lang="en-US" id="label_LeaseLiabilitiesFinance_2">Amount of lease liabilities finance.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesFinance" xlink:to="label_LeaseLiabilitiesFinance_2" xlink:title="Label : LeaseLiabilitiesFinance to label_LeaseLiabilitiesFinance_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherNoncurrentLiabilitiesOther" xlink:label="OtherNoncurrentLiabilitiesOther" xlink:title="OtherNoncurrentLiabilitiesOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentLiabilitiesOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherNoncurrentLiabilitiesOther" xml:lang="en-US" id="label_OtherNoncurrentLiabilitiesOther">Other non-current liabilities, other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentLiabilitiesOther" xlink:to="label_OtherNoncurrentLiabilitiesOther" xlink:title="Label : OtherNoncurrentLiabilitiesOther to label_OtherNoncurrentLiabilitiesOther" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentLiabilitiesOther_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherNoncurrentLiabilitiesOther_1" xml:lang="en-US" id="label_OtherNoncurrentLiabilitiesOther_1">Other non-current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentLiabilitiesOther" xlink:to="label_OtherNoncurrentLiabilitiesOther_1" xlink:title="Label : OtherNoncurrentLiabilitiesOther to label_OtherNoncurrentLiabilitiesOther_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentLiabilitiesOther_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherNoncurrentLiabilitiesOther_2" xml:lang="en-US" id="label_OtherNoncurrentLiabilitiesOther_2">Other non-current liabilities, other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentLiabilitiesOther" xlink:to="label_OtherNoncurrentLiabilitiesOther_2" xlink:title="Label : OtherNoncurrentLiabilitiesOther to label_OtherNoncurrentLiabilitiesOther_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfMajorCustomersAbstract" xlink:label="DisclosureOfMajorCustomersAbstract" xlink:title="DisclosureOfMajorCustomersAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMajorCustomersAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMajorCustomersAbstract" xml:lang="en-US" id="label_DisclosureOfMajorCustomersAbstract">Disclosure of major customers [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMajorCustomersAbstract" xlink:to="label_DisclosureOfMajorCustomersAbstract" xlink:title="Label : DisclosureOfMajorCustomersAbstract to label_DisclosureOfMajorCustomersAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NominalValueOfHedgingInstruments_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NominalValueOfHedgingInstruments_3" xml:lang="en-US" id="label_NominalValueOfHedgingInstruments_3">Notional amount of hedging instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalValueOfHedgingInstruments" xlink:to="label_NominalValueOfHedgingInstruments_3" xlink:title="Label : NominalValueOfHedgingInstruments to label_NominalValueOfHedgingInstruments_3" />
    <link:label xlink:type="resource" xlink:label="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_1" xml:lang="en-US" id="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_1">Financial instruments designated as hedging instruments, at fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:to="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_1" xlink:title="Label : FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue to label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_2" xml:lang="en-US" id="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_2">Hedging instrument, assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:to="label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_2" xlink:title="Label : FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue to label_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EthanolMember" xlink:label="EthanolMember" xlink:title="EthanolMember" />
    <link:label xlink:type="resource" xlink:label="label_EthanolMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EthanolMember" xml:lang="en-US" id="label_EthanolMember">Ethanol [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EthanolMember" xlink:to="label_EthanolMember" xlink:title="Label : EthanolMember to label_EthanolMember" />
    <link:label xlink:type="resource" xlink:label="label_EthanolMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EthanolMember_1" xml:lang="en-US" id="label_EthanolMember_1">Ethanol [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EthanolMember" xlink:to="label_EthanolMember_1" xlink:title="Label : EthanolMember to label_EthanolMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EthanolMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EthanolMember_2" xml:lang="en-US" id="label_EthanolMember_2">Ethanol.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EthanolMember" xlink:to="label_EthanolMember_2" xlink:title="Label : EthanolMember to label_EthanolMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SugarMember" xlink:label="SugarMember" xlink:title="SugarMember" />
    <link:label xlink:type="resource" xlink:label="label_SugarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SugarMember" xml:lang="en-US" id="label_SugarMember">Sugar [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SugarMember" xlink:to="label_SugarMember" xlink:title="Label : SugarMember to label_SugarMember" />
    <link:label xlink:type="resource" xlink:label="label_SugarMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SugarMember_1" xml:lang="en-US" id="label_SugarMember_1">Sugar [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SugarMember" xlink:to="label_SugarMember_1" xlink:title="Label : SugarMember to label_SugarMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SugarMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SugarMember_2" xml:lang="en-US" id="label_SugarMember_2">Sugar.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SugarMember" xlink:to="label_SugarMember_2" xlink:title="Label : SugarMember to label_SugarMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CogenerationMember" xlink:label="CogenerationMember" xlink:title="CogenerationMember" />
    <link:label xlink:type="resource" xlink:label="label_CogenerationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CogenerationMember" xml:lang="en-US" id="label_CogenerationMember">Cogeneration [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CogenerationMember" xlink:to="label_CogenerationMember" xlink:title="Label : CogenerationMember to label_CogenerationMember" />
    <link:label xlink:type="resource" xlink:label="label_CogenerationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CogenerationMember_1" xml:lang="en-US" id="label_CogenerationMember_1">Cogeneration [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CogenerationMember" xlink:to="label_CogenerationMember_1" xlink:title="Label : CogenerationMember to label_CogenerationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CogenerationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CogenerationMember_2" xml:lang="en-US" id="label_CogenerationMember_2">Cogeneration.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CogenerationMember" xlink:to="label_CogenerationMember_2" xlink:title="Label : CogenerationMember to label_CogenerationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherMember" xlink:label="OtherMember" xlink:title="OtherMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherMember" xml:lang="en-US" id="label_OtherMember">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMember" xlink:to="label_OtherMember" xlink:title="Label : OtherMember to label_OtherMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherMember_1" xml:lang="en-US" id="label_OtherMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMember" xlink:to="label_OtherMember_1" xlink:title="Label : OtherMember to label_OtherMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherMember_2" xml:lang="en-US" id="label_OtherMember_2">Other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherMember" xlink:to="label_OtherMember_2" xlink:title="Label : OtherMember to label_OtherMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IndustrialMember" xlink:label="IndustrialMember" xlink:title="IndustrialMember" />
    <link:label xlink:type="resource" xlink:label="label_IndustrialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndustrialMember" xml:lang="en-US" id="label_IndustrialMember">Industrial [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialMember" xlink:to="label_IndustrialMember" xlink:title="Label : IndustrialMember to label_IndustrialMember" />
    <link:label xlink:type="resource" xlink:label="label_IndustrialMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndustrialMember_1" xml:lang="en-US" id="label_IndustrialMember_1">Industrial [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialMember" xlink:to="label_IndustrialMember_1" xlink:title="Label : IndustrialMember to label_IndustrialMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IndustrialMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndustrialMember_2" xml:lang="en-US" id="label_IndustrialMember_2">Industrial.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndustrialMember" xlink:to="label_IndustrialMember_2" xlink:title="Label : IndustrialMember to label_IndustrialMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ResidentialMember" xlink:label="ResidentialMember" xlink:title="ResidentialMember" />
    <link:label xlink:type="resource" xlink:label="label_ResidentialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ResidentialMember" xml:lang="en-US" id="label_ResidentialMember">Residential [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResidentialMember" xlink:to="label_ResidentialMember" xlink:title="Label : ResidentialMember to label_ResidentialMember" />
    <link:label xlink:type="resource" xlink:label="label_ResidentialMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ResidentialMember_1" xml:lang="en-US" id="label_ResidentialMember_1">Residential [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResidentialMember" xlink:to="label_ResidentialMember_1" xlink:title="Label : ResidentialMember to label_ResidentialMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ResidentialMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ResidentialMember_2" xml:lang="en-US" id="label_ResidentialMember_2">Residential.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResidentialMember" xlink:to="label_ResidentialMember_2" xlink:title="Label : ResidentialMember to label_ResidentialMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AutomotiveMember" xlink:label="AutomotiveMember" xlink:title="AutomotiveMember" />
    <link:label xlink:type="resource" xlink:label="label_AutomotiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AutomotiveMember" xml:lang="en-US" id="label_AutomotiveMember">Automotive [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AutomotiveMember" xlink:to="label_AutomotiveMember" xlink:title="Label : AutomotiveMember to label_AutomotiveMember" />
    <link:label xlink:type="resource" xlink:label="label_AutomotiveMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AutomotiveMember_1" xml:lang="en-US" id="label_AutomotiveMember_1">Automotive [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AutomotiveMember" xlink:to="label_AutomotiveMember_1" xlink:title="Label : AutomotiveMember to label_AutomotiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AutomotiveMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AutomotiveMember_2" xml:lang="en-US" id="label_AutomotiveMember_2">Automotive.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AutomotiveMember" xlink:to="label_AutomotiveMember_2" xlink:title="Label : AutomotiveMember to label_AutomotiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConstructionRevenueMember" xlink:label="ConstructionRevenueMember" xlink:title="ConstructionRevenueMember" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionRevenueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConstructionRevenueMember" xml:lang="en-US" id="label_ConstructionRevenueMember">Construction Revenue [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionRevenueMember" xlink:to="label_ConstructionRevenueMember" xlink:title="Label : ConstructionRevenueMember to label_ConstructionRevenueMember" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionRevenueMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConstructionRevenueMember_1" xml:lang="en-US" id="label_ConstructionRevenueMember_1">Construction revenue [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionRevenueMember" xlink:to="label_ConstructionRevenueMember_1" xlink:title="Label : ConstructionRevenueMember to label_ConstructionRevenueMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionRevenueMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConstructionRevenueMember_2" xml:lang="en-US" id="label_ConstructionRevenueMember_2">Construction revenue.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionRevenueMember" xlink:to="label_ConstructionRevenueMember_2" xlink:title="Label : ConstructionRevenueMember to label_ConstructionRevenueMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinishedGoodsMember" xlink:label="FinishedGoodsMember" xlink:title="FinishedGoodsMember" />
    <link:label xlink:type="resource" xlink:label="label_FinishedGoodsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinishedGoodsMember" xml:lang="en-US" id="label_FinishedGoodsMember">Finished goods [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinishedGoodsMember" xlink:to="label_FinishedGoodsMember" xlink:title="Label : FinishedGoodsMember to label_FinishedGoodsMember" />
    <link:label xlink:type="resource" xlink:label="label_FinishedGoodsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinishedGoodsMember_1" xml:lang="en-US" id="label_FinishedGoodsMember_1">Finished goods [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinishedGoodsMember" xlink:to="label_FinishedGoodsMember_1" xlink:title="Label : FinishedGoodsMember to label_FinishedGoodsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FinishedGoodsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinishedGoodsMember_2" xml:lang="en-US" id="label_FinishedGoodsMember_2">Finished goods.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinishedGoodsMember" xlink:to="label_FinishedGoodsMember_2" xlink:title="Label : FinishedGoodsMember to label_FinishedGoodsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BasicOilMember" xlink:label="BasicOilMember" xlink:title="BasicOilMember" />
    <link:label xlink:type="resource" xlink:label="label_BasicOilMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasicOilMember" xml:lang="en-US" id="label_BasicOilMember">Basic Oil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicOilMember" xlink:to="label_BasicOilMember" xlink:title="Label : BasicOilMember to label_BasicOilMember" />
    <link:label xlink:type="resource" xlink:label="label_BasicOilMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BasicOilMember_1" xml:lang="en-US" id="label_BasicOilMember_1">Basic oil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicOilMember" xlink:to="label_BasicOilMember_1" xlink:title="Label : BasicOilMember to label_BasicOilMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BasicOilMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BasicOilMember_2" xml:lang="en-US" id="label_BasicOilMember_2">Basic oil.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicOilMember" xlink:to="label_BasicOilMember_2" xlink:title="Label : BasicOilMember to label_BasicOilMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContainerOperationsMember" xlink:label="ContainerOperationsMember" xlink:title="ContainerOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_ContainerOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContainerOperationsMember" xml:lang="en-US" id="label_ContainerOperationsMember">Container Operations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContainerOperationsMember" xlink:to="label_ContainerOperationsMember" xlink:title="Label : ContainerOperationsMember to label_ContainerOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_ContainerOperationsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContainerOperationsMember_1" xml:lang="en-US" id="label_ContainerOperationsMember_1">Container Operations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContainerOperationsMember" xlink:to="label_ContainerOperationsMember_1" xlink:title="Label : ContainerOperationsMember to label_ContainerOperationsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ContainerOperationsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContainerOperationsMember_2" xml:lang="en-US" id="label_ContainerOperationsMember_2">Container operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContainerOperationsMember" xlink:to="label_ContainerOperationsMember_2" xlink:title="Label : ContainerOperationsMember to label_ContainerOperationsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GasMember" xlink:label="GasMember" xlink:title="GasMember" />
    <link:label xlink:type="resource" xlink:label="label_GasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GasMember" xml:lang="en-US" id="label_GasMember">Gas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasMember" xlink:to="label_GasMember" xlink:title="Label : GasMember to label_GasMember" />
    <link:label xlink:type="resource" xlink:label="label_GasMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GasMember_1" xml:lang="en-US" id="label_GasMember_1">Gas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasMember" xlink:to="label_GasMember_1" xlink:title="Label : GasMember to label_GasMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GasMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GasMember_2" xml:lang="en-US" id="label_GasMember_2">Gas.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasMember" xlink:to="label_GasMember_2" xlink:title="Label : GasMember to label_GasMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DieselMember" xlink:label="DieselMember" xlink:title="DieselMember" />
    <link:label xlink:type="resource" xlink:label="label_DieselMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DieselMember" xml:lang="en-US" id="label_DieselMember">Diesel member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DieselMember" xlink:to="label_DieselMember" xlink:title="Label : DieselMember to label_DieselMember" />
    <link:label xlink:type="resource" xlink:label="label_DieselMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DieselMember_1" xml:lang="en-US" id="label_DieselMember_1">Diesel [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DieselMember" xlink:to="label_DieselMember_1" xlink:title="Label : DieselMember to label_DieselMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DieselMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DieselMember_2" xml:lang="en-US" id="label_DieselMember_2">Diesel.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DieselMember" xlink:to="label_DieselMember_2" xlink:title="Label : DieselMember to label_DieselMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommercialMember" xlink:label="CommercialMember" xlink:title="CommercialMember" />
    <link:label xlink:type="resource" xlink:label="label_CommercialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommercialMember" xml:lang="en-US" id="label_CommercialMember">Commercial [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialMember" xlink:to="label_CommercialMember" xlink:title="Label : CommercialMember to label_CommercialMember" />
    <link:label xlink:type="resource" xlink:label="label_CommercialMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommercialMember_1" xml:lang="en-US" id="label_CommercialMember_1">Commercial [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialMember" xlink:to="label_CommercialMember_1" xlink:title="Label : CommercialMember to label_CommercialMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommercialMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommercialMember_2" xml:lang="en-US" id="label_CommercialMember_2">Commercial.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialMember" xlink:to="label_CommercialMember_2" xlink:title="Label : CommercialMember to label_CommercialMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ServicesMember" xlink:label="ServicesMember" xlink:title="ServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_ServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServicesMember" xml:lang="en-US" id="label_ServicesMember">Services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServicesMember" xlink:to="label_ServicesMember" xlink:title="Label : ServicesMember to label_ServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_ServicesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ServicesMember_1" xml:lang="en-US" id="label_ServicesMember_1">Services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServicesMember" xlink:to="label_ServicesMember_1" xlink:title="Label : ServicesMember to label_ServicesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ServicesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ServicesMember_2" xml:lang="en-US" id="label_ServicesMember_2">Services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServicesMember" xlink:to="label_ServicesMember_2" xlink:title="Label : ServicesMember to label_ServicesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NorthOperationsMember" xlink:label="NorthOperationsMember" xlink:title="NorthOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_NorthOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NorthOperationsMember" xml:lang="en-US" id="label_NorthOperationsMember">North Operations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthOperationsMember" xlink:to="label_NorthOperationsMember" xlink:title="Label : NorthOperationsMember to label_NorthOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_NorthOperationsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NorthOperationsMember_1" xml:lang="en-US" id="label_NorthOperationsMember_1">North Operation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthOperationsMember" xlink:to="label_NorthOperationsMember_1" xlink:title="Label : NorthOperationsMember to label_NorthOperationsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NorthOperationsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NorthOperationsMember_2" xml:lang="en-US" id="label_NorthOperationsMember_2">North operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthOperationsMember" xlink:to="label_NorthOperationsMember_2" xlink:title="Label : NorthOperationsMember to label_NorthOperationsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SouthOperationsMember" xlink:label="SouthOperationsMember" xlink:title="SouthOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_SouthOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SouthOperationsMember" xml:lang="en-US" id="label_SouthOperationsMember">South Operations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthOperationsMember" xlink:to="label_SouthOperationsMember" xlink:title="Label : SouthOperationsMember to label_SouthOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_SouthOperationsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SouthOperationsMember_1" xml:lang="en-US" id="label_SouthOperationsMember_1">South Operation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthOperationsMember" xlink:to="label_SouthOperationsMember_1" xlink:title="Label : SouthOperationsMember to label_SouthOperationsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SouthOperationsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SouthOperationsMember_2" xml:lang="en-US" id="label_SouthOperationsMember_2">South operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthOperationsMember" xlink:to="label_SouthOperationsMember_2" xlink:title="Label : SouthOperationsMember to label_SouthOperationsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfRateregulatedActivitiesAxis" xlink:label="TypesOfRateregulatedActivitiesAxis" xlink:title="TypesOfRateregulatedActivitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfRateregulatedActivitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfRateregulatedActivitiesAxis" xml:lang="en-US" id="label_TypesOfRateregulatedActivitiesAxis">Types of rate-regulated activities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRateregulatedActivitiesAxis" xlink:to="label_TypesOfRateregulatedActivitiesAxis" xlink:title="Label : TypesOfRateregulatedActivitiesAxis to label_TypesOfRateregulatedActivitiesAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RateregulatedActivitiesMember" xlink:label="RateregulatedActivitiesMember" xlink:title="RateregulatedActivitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_RateregulatedActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RateregulatedActivitiesMember" xml:lang="en-US" id="label_RateregulatedActivitiesMember">Rate-regulated activities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RateregulatedActivitiesMember" xlink:to="label_RateregulatedActivitiesMember" xlink:title="Label : RateregulatedActivitiesMember to label_RateregulatedActivitiesMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GasDistributionMember" xlink:label="GasDistributionMember" xlink:title="GasDistributionMember" />
    <link:label xlink:type="resource" xlink:label="label_GasDistributionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GasDistributionMember" xml:lang="en-US" id="label_GasDistributionMember">Gas distribution [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasDistributionMember" xlink:to="label_GasDistributionMember" xlink:title="Label : GasDistributionMember to label_GasDistributionMember" />
    <link:label xlink:type="resource" xlink:label="label_GasDistributionMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GasDistributionMember_1" xml:lang="en-US" id="label_GasDistributionMember_1">Natural gas distribution [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasDistributionMember" xlink:to="label_GasDistributionMember_1" xlink:title="Label : GasDistributionMember to label_GasDistributionMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GasDistributionMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GasDistributionMember_2" xml:lang="en-US" id="label_GasDistributionMember_2">Gas distribution [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasDistributionMember" xlink:to="label_GasDistributionMember_2" xlink:title="Label : GasDistributionMember to label_GasDistributionMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ElectricityDistributionMember" xlink:label="ElectricityDistributionMember" xlink:title="ElectricityDistributionMember" />
    <link:label xlink:type="resource" xlink:label="label_ElectricityDistributionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ElectricityDistributionMember" xml:lang="en-US" id="label_ElectricityDistributionMember">Electricity trading [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElectricityDistributionMember" xlink:to="label_ElectricityDistributionMember" xlink:title="Label : ElectricityDistributionMember to label_ElectricityDistributionMember" />
    <link:label xlink:type="resource" xlink:label="label_ElectricityDistributionMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ElectricityDistributionMember_1" xml:lang="en-US" id="label_ElectricityDistributionMember_1">Electricity distribution [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElectricityDistributionMember" xlink:to="label_ElectricityDistributionMember_1" xlink:title="Label : ElectricityDistributionMember to label_ElectricityDistributionMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfGeographicalAreasAbstract" xlink:label="DisclosureOfGeographicalAreasAbstract" xlink:title="DisclosureOfGeographicalAreasAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGeographicalAreasAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGeographicalAreasAbstract" xml:lang="en-US" id="label_DisclosureOfGeographicalAreasAbstract">Disclosure of geographical areas [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeographicalAreasAbstract" xlink:to="label_DisclosureOfGeographicalAreasAbstract" xlink:title="Label : DisclosureOfGeographicalAreasAbstract to label_DisclosureOfGeographicalAreasAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfGeographicalAreasTable" xlink:label="DisclosureOfGeographicalAreasTable" xlink:title="DisclosureOfGeographicalAreasTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGeographicalAreasTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGeographicalAreasTable" xml:lang="en-US" id="label_DisclosureOfGeographicalAreasTable">Disclosure of geographical areas [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeographicalAreasTable" xlink:to="label_DisclosureOfGeographicalAreasTable" xlink:title="Label : DisclosureOfGeographicalAreasTable to label_DisclosureOfGeographicalAreasTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGeographicalAreasTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfGeographicalAreasTable_1" xml:lang="en-US" id="label_DisclosureOfGeographicalAreasTable_1">Disclosure of geographical areas [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeographicalAreasTable" xlink:to="label_DisclosureOfGeographicalAreasTable_1" xlink:title="Label : DisclosureOfGeographicalAreasTable to label_DisclosureOfGeographicalAreasTable_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_EuropeMember" xlink:label="EuropeMember" xlink:title="EuropeMember" />
    <link:label xlink:type="resource" xlink:label="label_EuropeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EuropeMember" xml:lang="en-US" id="label_EuropeMember">Europe [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuropeMember" xlink:to="label_EuropeMember" xlink:title="Label : EuropeMember to label_EuropeMember" />
    <link:label xlink:type="resource" xlink:label="label_EuropeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EuropeMember_1" xml:lang="en-US" id="label_EuropeMember_1">Europe [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuropeMember" xlink:to="label_EuropeMember_1" xlink:title="Label : EuropeMember to label_EuropeMember_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_LatinAmericaMember" xlink:label="LatinAmericaMember" xlink:title="LatinAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_LatinAmericaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LatinAmericaMember" xml:lang="en-US" id="label_LatinAmericaMember">Latin America [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LatinAmericaMember" xlink:to="label_LatinAmericaMember" xlink:title="Label : LatinAmericaMember to label_LatinAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_LatinAmericaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LatinAmericaMember_1" xml:lang="en-US" id="label_LatinAmericaMember_1">Latin America [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LatinAmericaMember" xlink:to="label_LatinAmericaMember_1" xlink:title="Label : LatinAmericaMember to label_LatinAmericaMember_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_NorthAmericaMember" xlink:label="NorthAmericaMember" xlink:title="NorthAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_NorthAmericaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NorthAmericaMember" xml:lang="en-US" id="label_NorthAmericaMember">North America [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthAmericaMember" xlink:to="label_NorthAmericaMember" xlink:title="Label : NorthAmericaMember to label_NorthAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_NorthAmericaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NorthAmericaMember_1" xml:lang="en-US" id="label_NorthAmericaMember_1">North America [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NorthAmericaMember" xlink:to="label_NorthAmericaMember_1" xlink:title="Label : NorthAmericaMember to label_NorthAmericaMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AsiaAndOtherMember" xlink:label="AsiaAndOtherMember" xlink:title="AsiaAndOtherMember" />
    <link:label xlink:type="resource" xlink:label="label_AsiaAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AsiaAndOtherMember" xml:lang="en-US" id="label_AsiaAndOtherMember">Asia and Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaAndOtherMember" xlink:to="label_AsiaAndOtherMember" xlink:title="Label : AsiaAndOtherMember to label_AsiaAndOtherMember" />
    <link:label xlink:type="resource" xlink:label="label_AsiaAndOtherMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AsiaAndOtherMember_1" xml:lang="en-US" id="label_AsiaAndOtherMember_1">Asia and Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaAndOtherMember" xlink:to="label_AsiaAndOtherMember_1" xlink:title="Label : AsiaAndOtherMember to label_AsiaAndOtherMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AsiaAndOtherMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AsiaAndOtherMember_2" xml:lang="en-US" id="label_AsiaAndOtherMember_2">Asia and Other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AsiaAndOtherMember" xlink:to="label_AsiaAndOtherMember_2" xlink:title="Label : AsiaAndOtherMember to label_AsiaAndOtherMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfGeographicalAreasLineItems" xlink:label="DisclosureOfGeographicalAreasLineItems" xlink:title="DisclosureOfGeographicalAreasLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGeographicalAreasLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGeographicalAreasLineItems" xml:lang="en-US" id="label_DisclosureOfGeographicalAreasLineItems">Disclosure of geographical areas [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeographicalAreasLineItems" xlink:to="label_DisclosureOfGeographicalAreasLineItems" xlink:title="Label : DisclosureOfGeographicalAreasLineItems to label_DisclosureOfGeographicalAreasLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGeographicalAreasLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfGeographicalAreasLineItems_1" xml:lang="en-US" id="label_DisclosureOfGeographicalAreasLineItems_1">Disclosure of geographical areas [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGeographicalAreasLineItems" xlink:to="label_DisclosureOfGeographicalAreasLineItems_1" xlink:title="Label : DisclosureOfGeographicalAreasLineItems to label_DisclosureOfGeographicalAreasLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:label="NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:title="NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xml:lang="en-US" id="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts">Non-current assets other than financial instruments, deferred tax assets, post-employment benefit assets, and rights arising under insurance contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:to="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:title="Label : NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts to label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_1" xml:lang="en-US" id="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_1">Non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:to="label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_1" xlink:title="Label : NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts to label_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MajorCustomersAxis" xlink:label="MajorCustomersAxis" xlink:title="MajorCustomersAxis" />
    <link:label xlink:type="resource" xlink:label="label_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorCustomersAxis" xml:lang="en-US" id="label_MajorCustomersAxis">Customer [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorCustomersAxis" xlink:to="label_MajorCustomersAxis" xlink:title="Label : MajorCustomersAxis to label_MajorCustomersAxis" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_NameOfMajorCustomerDomain" xlink:label="NameOfMajorCustomerDomain" xlink:title="NameOfMajorCustomerDomain" />
    <link:label xlink:type="resource" xlink:label="label_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NameOfMajorCustomerDomain" xml:lang="en-US" id="label_NameOfMajorCustomerDomain">Customer [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NameOfMajorCustomerDomain" xlink:to="label_NameOfMajorCustomerDomain" xlink:title="Label : NameOfMajorCustomerDomain to label_NameOfMajorCustomerDomain" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MajorCustomerMember" xlink:label="MajorCustomerMember" xlink:title="MajorCustomerMember" />
    <link:label xlink:type="resource" xlink:label="label_MajorCustomerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MajorCustomerMember" xml:lang="en-US" id="label_MajorCustomerMember">Major Customer [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorCustomerMember" xlink:to="label_MajorCustomerMember" xlink:title="Label : MajorCustomerMember to label_MajorCustomerMember" />
    <link:label xlink:type="resource" xlink:label="label_MajorCustomerMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MajorCustomerMember_1" xml:lang="en-US" id="label_MajorCustomerMember_1">Major Customers [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorCustomerMember" xlink:to="label_MajorCustomerMember_1" xlink:title="Label : MajorCustomerMember to label_MajorCustomerMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MajorCustomerMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MajorCustomerMember_2" xml:lang="en-US" id="label_MajorCustomerMember_2">Major customer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MajorCustomerMember" xlink:to="label_MajorCustomerMember_2" xlink:title="Label : MajorCustomerMember to label_MajorCustomerMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialAssetsTable" xlink:label="DisclosureOfFinancialAssetsTable" xlink:title="DisclosureOfFinancialAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsTable" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsTable">Disclosure of financial assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsTable" xlink:to="label_DisclosureOfFinancialAssetsTable" xlink:title="Label : DisclosureOfFinancialAssetsTable to label_DisclosureOfFinancialAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialAssetsTable_1" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsTable_1">Disclosure of financial assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsTable" xlink:to="label_DisclosureOfFinancialAssetsTable_1" xlink:title="Label : DisclosureOfFinancialAssetsTable to label_DisclosureOfFinancialAssetsTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="CategoriesOfFinancialAssetsAxis" xlink:title="CategoriesOfFinancialAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CategoriesOfFinancialAssetsAxis" xml:lang="en-US" id="label_CategoriesOfFinancialAssetsAxis">Categories of financial assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfFinancialAssetsAxis" xlink:to="label_CategoriesOfFinancialAssetsAxis" xlink:title="Label : CategoriesOfFinancialAssetsAxis to label_CategoriesOfFinancialAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfFinancialAssetsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CategoriesOfFinancialAssetsAxis_1" xml:lang="en-US" id="label_CategoriesOfFinancialAssetsAxis_1">Categories of financial assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfFinancialAssetsAxis" xlink:to="label_CategoriesOfFinancialAssetsAxis_1" xlink:title="Label : CategoriesOfFinancialAssetsAxis to label_CategoriesOfFinancialAssetsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="FinancialAssetsCategoryMember" xlink:title="FinancialAssetsCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsCategoryMember" xml:lang="en-US" id="label_FinancialAssetsCategoryMember">Financial assets, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsCategoryMember" xlink:to="label_FinancialAssetsCategoryMember" xlink:title="Label : FinancialAssetsCategoryMember to label_FinancialAssetsCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsCategoryMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsCategoryMember_1" xml:lang="en-US" id="label_FinancialAssetsCategoryMember_1">Financial assets, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsCategoryMember" xlink:to="label_FinancialAssetsCategoryMember_1" xlink:title="Label : FinancialAssetsCategoryMember to label_FinancialAssetsCategoryMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:label="FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:title="FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xml:lang="en-US" id="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember">Financial assets at fair value through profit or loss, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:to="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:title="Label : FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember to label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_1" xml:lang="en-US" id="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_1">Fair value through profit or loss [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:to="label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_1" xlink:title="Label : FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember to label_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember" xlink:label="FinancialAssetsAtAmortisedCostCategoryMember" xlink:title="FinancialAssetsAtAmortisedCostCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssetsAtAmortisedCostCategoryMember" xml:lang="en-US" id="label_FinancialAssetsAtAmortisedCostCategoryMember">Financial assets at amortised cost, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtAmortisedCostCategoryMember" xlink:to="label_FinancialAssetsAtAmortisedCostCategoryMember" xlink:title="Label : FinancialAssetsAtAmortisedCostCategoryMember to label_FinancialAssetsAtAmortisedCostCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtAmortisedCostCategoryMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsAtAmortisedCostCategoryMember_1" xml:lang="en-US" id="label_FinancialAssetsAtAmortisedCostCategoryMember_1">Financial assets at amortised cost, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtAmortisedCostCategoryMember" xlink:to="label_FinancialAssetsAtAmortisedCostCategoryMember_1" xlink:title="Label : FinancialAssetsAtAmortisedCostCategoryMember to label_FinancialAssetsAtAmortisedCostCategoryMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ClassesOfFinancialInstrumentsAxis" xlink:title="ClassesOfFinancialInstrumentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfFinancialInstrumentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfFinancialInstrumentsAxis" xml:lang="en-US" id="label_ClassesOfFinancialInstrumentsAxis">Classes of financial instruments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialInstrumentsAxis" xlink:to="label_ClassesOfFinancialInstrumentsAxis" xlink:title="Label : ClassesOfFinancialInstrumentsAxis to label_ClassesOfFinancialInstrumentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfFinancialInstrumentsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfFinancialInstrumentsAxis_1" xml:lang="en-US" id="label_ClassesOfFinancialInstrumentsAxis_1">Classes of financial instruments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialInstrumentsAxis" xlink:to="label_ClassesOfFinancialInstrumentsAxis_1" xlink:title="Label : ClassesOfFinancialInstrumentsAxis to label_ClassesOfFinancialInstrumentsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ClassesOfFinancialInstrumentsMember" xlink:title="ClassesOfFinancialInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfFinancialInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfFinancialInstrumentsMember" xml:lang="en-US" id="label_ClassesOfFinancialInstrumentsMember">Financial instruments, class [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialInstrumentsMember" xlink:to="label_ClassesOfFinancialInstrumentsMember" xlink:title="Label : ClassesOfFinancialInstrumentsMember to label_ClassesOfFinancialInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfFinancialInstrumentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfFinancialInstrumentsMember_1" xml:lang="en-US" id="label_ClassesOfFinancialInstrumentsMember_1">Financial instruments, class [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialInstrumentsMember" xlink:to="label_ClassesOfFinancialInstrumentsMember_1" xlink:title="Label : ClassesOfFinancialInstrumentsMember to label_ClassesOfFinancialInstrumentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashAndCashEquivalentMember" xlink:label="CashAndCashEquivalentMember" xlink:title="CashAndCashEquivalentMember" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentMember" xml:lang="en-US" id="label_CashAndCashEquivalentMember">Cash and Cash Equivalent [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentMember" xlink:to="label_CashAndCashEquivalentMember" xlink:title="Label : CashAndCashEquivalentMember to label_CashAndCashEquivalentMember" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentMember_1" xml:lang="en-US" id="label_CashAndCashEquivalentMember_1">Cash and cash equivalents [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentMember" xlink:to="label_CashAndCashEquivalentMember_1" xlink:title="Label : CashAndCashEquivalentMember to label_CashAndCashEquivalentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashAndCashEquivalentMember_2" xml:lang="en-US" id="label_CashAndCashEquivalentMember_2">Cash and cash equivalent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentMember" xlink:to="label_CashAndCashEquivalentMember_2" xlink:title="Label : CashAndCashEquivalentMember to label_CashAndCashEquivalentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MarketableSecuritiesMember" xlink:label="MarketableSecuritiesMember" xlink:title="MarketableSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesMember" xml:lang="en-US" id="label_MarketableSecuritiesMember">Marketable Securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesMember" xlink:to="label_MarketableSecuritiesMember" xlink:title="Label : MarketableSecuritiesMember to label_MarketableSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecuritiesMember_1" xml:lang="en-US" id="label_MarketableSecuritiesMember_1">Marketable securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesMember" xlink:to="label_MarketableSecuritiesMember_1" xlink:title="Label : MarketableSecuritiesMember to label_MarketableSecuritiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecuritiesMember_2" xml:lang="en-US" id="label_MarketableSecuritiesMember_2">Marketable securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesMember" xlink:to="label_MarketableSecuritiesMember_2" xlink:title="Label : MarketableSecuritiesMember to label_MarketableSecuritiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DerivativesMember" xlink:label="DerivativesMember" xlink:title="DerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_DerivativesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativesMember" xml:lang="en-US" id="label_DerivativesMember">Derivatives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativesMember" xlink:to="label_DerivativesMember" xlink:title="Label : DerivativesMember to label_DerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_DerivativesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativesMember_1" xml:lang="en-US" id="label_DerivativesMember_1">Derivate financial instruments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativesMember" xlink:to="label_DerivativesMember_1" xlink:title="Label : DerivativesMember to label_DerivativesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeReceivablesMember" xlink:label="TradeReceivablesMember" xlink:title="TradeReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeReceivablesMember" xml:lang="en-US" id="label_TradeReceivablesMember">Trade receivables [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesMember" xlink:to="label_TradeReceivablesMember" xlink:title="Label : TradeReceivablesMember to label_TradeReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeReceivablesMember_1" xml:lang="en-US" id="label_TradeReceivablesMember_1">Trade receivables [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesMember" xlink:to="label_TradeReceivablesMember_1" xlink:title="Label : TradeReceivablesMember to label_TradeReceivablesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RestrictedCashMember" xlink:label="RestrictedCashMember" xlink:title="RestrictedCashMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RestrictedCashMember" xml:lang="en-US" id="label_RestrictedCashMember">This member stands for the information pertaining to restricted cash.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashMember" xlink:to="label_RestrictedCashMember" xlink:title="Label : RestrictedCashMember to label_RestrictedCashMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashMember_1" xml:lang="en-US" id="label_RestrictedCashMember_1">Restricted cash [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashMember" xlink:to="label_RestrictedCashMember_1" xlink:title="Label : RestrictedCashMember to label_RestrictedCashMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashMember_2" xml:lang="en-US" id="label_RestrictedCashMember_2">Restricted cash [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashMember" xlink:to="label_RestrictedCashMember_2" xlink:title="Label : RestrictedCashMember to label_RestrictedCashMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReceivablesFromRelatedPartiesMember" xlink:label="ReceivablesFromRelatedPartiesMember" xlink:title="ReceivablesFromRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesFromRelatedPartiesMember" xml:lang="en-US" id="label_ReceivablesFromRelatedPartiesMember">Receivables from Related Parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromRelatedPartiesMember" xlink:to="label_ReceivablesFromRelatedPartiesMember" xlink:title="Label : ReceivablesFromRelatedPartiesMember to label_ReceivablesFromRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromRelatedPartiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReceivablesFromRelatedPartiesMember_1" xml:lang="en-US" id="label_ReceivablesFromRelatedPartiesMember_1">Receivables from related parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromRelatedPartiesMember" xlink:to="label_ReceivablesFromRelatedPartiesMember_1" xlink:title="Label : ReceivablesFromRelatedPartiesMember to label_ReceivablesFromRelatedPartiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromRelatedPartiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReceivablesFromRelatedPartiesMember_2" xml:lang="en-US" id="label_ReceivablesFromRelatedPartiesMember_2">Receivables from related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromRelatedPartiesMember" xlink:to="label_ReceivablesFromRelatedPartiesMember_2" xlink:title="Label : ReceivablesFromRelatedPartiesMember to label_ReceivablesFromRelatedPartiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SectorFinancialAssetsMember" xlink:label="SectorFinancialAssetsMember" xlink:title="SectorFinancialAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SectorFinancialAssetsMember" xml:lang="en-US" id="label_SectorFinancialAssetsMember">Sectorial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetsMember" xlink:to="label_SectorFinancialAssetsMember" xlink:title="Label : SectorFinancialAssetsMember to label_SectorFinancialAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SectorFinancialAssetsMember_1" xml:lang="en-US" id="label_SectorFinancialAssetsMember_1">This member stands for information pertaining to sector financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetsMember" xlink:to="label_SectorFinancialAssetsMember_1" xlink:title="Label : SectorFinancialAssetsMember to label_SectorFinancialAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SectorFinancialAssetsMember_2" xml:lang="en-US" id="label_SectorFinancialAssetsMember_2">Sector Financial Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetsMember" xlink:to="label_SectorFinancialAssetsMember_2" xlink:title="Label : SectorFinancialAssetsMember to label_SectorFinancialAssetsMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SectorFinancialAssetsMember_3" xml:lang="en-US" id="label_SectorFinancialAssetsMember_3">Sector financial assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetsMember" xlink:to="label_SectorFinancialAssetsMember_3" xlink:title="Label : SectorFinancialAssetsMember to label_SectorFinancialAssetsMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsReceivableMember" xlink:label="DividendsReceivableMember" xlink:title="DividendsReceivableMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsReceivableMember" xml:lang="en-US" id="label_DividendsReceivableMember">Dividends receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivableMember" xlink:to="label_DividendsReceivableMember" xlink:title="Label : DividendsReceivableMember to label_DividendsReceivableMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivableMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsReceivableMember_1" xml:lang="en-US" id="label_DividendsReceivableMember_1">Dividend receivable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivableMember" xlink:to="label_DividendsReceivableMember_1" xlink:title="Label : DividendsReceivableMember to label_DividendsReceivableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivableMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsReceivableMember_2" xml:lang="en-US" id="label_DividendsReceivableMember_2">Dividends Receivable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivableMember" xlink:to="label_DividendsReceivableMember_2" xlink:title="Label : DividendsReceivableMember to label_DividendsReceivableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherFinancialAssetMember" xlink:label="OtherFinancialAssetMember" xlink:title="OtherFinancialAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherFinancialAssetMember" xml:lang="en-US" id="label_OtherFinancialAssetMember">This member stands for the information pertaining to other financial asset.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetMember" xlink:to="label_OtherFinancialAssetMember" xlink:title="Label : OtherFinancialAssetMember to label_OtherFinancialAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherFinancialAssetMember_1" xml:lang="en-US" id="label_OtherFinancialAssetMember_1">Other financial assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetMember" xlink:to="label_OtherFinancialAssetMember_1" xlink:title="Label : OtherFinancialAssetMember to label_OtherFinancialAssetMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinancialAssetMember_2" xml:lang="en-US" id="label_OtherFinancialAssetMember_2">Other financial asset [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetMember" xlink:to="label_OtherFinancialAssetMember_2" xlink:title="Label : OtherFinancialAssetMember to label_OtherFinancialAssetMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:label="DisclosureOfFinancialAssetsLineItems" xlink:title="DisclosureOfFinancialAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsLineItems">Disclosure of financial assets [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsLineItems" xlink:to="label_DisclosureOfFinancialAssetsLineItems" xlink:title="Label : DisclosureOfFinancialAssetsLineItems to label_DisclosureOfFinancialAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialAssetsLineItems_1" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsLineItems_1">Disclosure of financial assets [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsLineItems" xlink:to="label_DisclosureOfFinancialAssetsLineItems_1" xlink:title="Label : DisclosureOfFinancialAssetsLineItems to label_DisclosureOfFinancialAssetsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssets" xlink:label="FinancialAssets" xlink:title="FinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssets" xml:lang="en-US" id="label_FinancialAssets">Financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssets" xlink:to="label_FinancialAssets" xlink:title="Label : FinancialAssets to label_FinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialAssets_1" xml:lang="en-US" id="label_FinancialAssets_1">Financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssets" xlink:to="label_FinancialAssets_1" xlink:title="Label : FinancialAssets to label_FinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:label="DisclosureOfFinancialLiabilitiesTable" xlink:title="DisclosureOfFinancialLiabilitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialLiabilitiesTable" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesTable">Disclosure of financial liabilities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesTable" xlink:to="label_DisclosureOfFinancialLiabilitiesTable" xlink:title="Label : DisclosureOfFinancialLiabilitiesTable to label_DisclosureOfFinancialLiabilitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialLiabilitiesTable_1" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesTable_1">Disclosure of financial liabilities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesTable" xlink:to="label_DisclosureOfFinancialLiabilitiesTable_1" xlink:title="Label : DisclosureOfFinancialLiabilitiesTable to label_DisclosureOfFinancialLiabilitiesTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:label="CategoriesOfFinancialLiabilitiesAxis" xlink:title="CategoriesOfFinancialLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CategoriesOfFinancialLiabilitiesAxis" xml:lang="en-US" id="label_CategoriesOfFinancialLiabilitiesAxis">Categories of financial liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfFinancialLiabilitiesAxis" xlink:to="label_CategoriesOfFinancialLiabilitiesAxis" xlink:title="Label : CategoriesOfFinancialLiabilitiesAxis to label_CategoriesOfFinancialLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfFinancialLiabilitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CategoriesOfFinancialLiabilitiesAxis_1" xml:lang="en-US" id="label_CategoriesOfFinancialLiabilitiesAxis_1">Categories of financial liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfFinancialLiabilitiesAxis" xlink:to="label_CategoriesOfFinancialLiabilitiesAxis_1" xlink:title="Label : CategoriesOfFinancialLiabilitiesAxis to label_CategoriesOfFinancialLiabilitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilitiesCategoryMember" xlink:label="FinancialLiabilitiesCategoryMember" xlink:title="FinancialLiabilitiesCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesCategoryMember" xml:lang="en-US" id="label_FinancialLiabilitiesCategoryMember">Financial liabilities, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesCategoryMember" xlink:to="label_FinancialLiabilitiesCategoryMember" xlink:title="Label : FinancialLiabilitiesCategoryMember to label_FinancialLiabilitiesCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesCategoryMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesCategoryMember_1" xml:lang="en-US" id="label_FinancialLiabilitiesCategoryMember_1">Financial liabilities, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesCategoryMember" xlink:to="label_FinancialLiabilitiesCategoryMember_1" xlink:title="Label : FinancialLiabilitiesCategoryMember to label_FinancialLiabilitiesCategoryMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:label="FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:title="FinancialLiabilitiesAtAmortisedCostCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtAmortisedCostCategoryMember" xml:lang="en-US" id="label_FinancialLiabilitiesAtAmortisedCostCategoryMember">Liabilities amortized cost [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:to="label_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:title="Label : FinancialLiabilitiesAtAmortisedCostCategoryMember to label_FinancialLiabilitiesAtAmortisedCostCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_1" xml:lang="en-US" id="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_1">Financial liabilities at amortised cost, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:to="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_1" xlink:title="Label : FinancialLiabilitiesAtAmortisedCostCategoryMember to label_FinancialLiabilitiesAtAmortisedCostCategoryMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:label="FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:title="FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xml:lang="en-US" id="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember">Fair value through profit or loss [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:to="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:title="Label : FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember to label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="BorrowingsInterestRateBasis" xlink:title="BorrowingsInterestRateBasis" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsInterestRateBasis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BorrowingsInterestRateBasis" xml:lang="en-US" id="label_BorrowingsInterestRateBasis">Borrowings, interest rate basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRateBasis" xlink:to="label_BorrowingsInterestRateBasis" xlink:title="Label : BorrowingsInterestRateBasis to label_BorrowingsInterestRateBasis" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_1" xml:lang="en-US" id="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_1">Financial liabilities at fair value through profit or loss, category [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:to="label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_1" xlink:title="Label : FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember to label_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LoansBorrowingsAndDebenturesMember" xlink:label="LoansBorrowingsAndDebenturesMember" xlink:title="LoansBorrowingsAndDebenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_LoansBorrowingsAndDebenturesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoansBorrowingsAndDebenturesMember" xml:lang="en-US" id="label_LoansBorrowingsAndDebenturesMember">This member stands for information pertaining to loans, borrowings and debentures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansBorrowingsAndDebenturesMember" xlink:to="label_LoansBorrowingsAndDebenturesMember" xlink:title="Label : LoansBorrowingsAndDebenturesMember to label_LoansBorrowingsAndDebenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_LoansBorrowingsAndDebenturesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoansBorrowingsAndDebenturesMember_1" xml:lang="en-US" id="label_LoansBorrowingsAndDebenturesMember_1">Loans, borrowings and debentures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansBorrowingsAndDebenturesMember" xlink:to="label_LoansBorrowingsAndDebenturesMember_1" xlink:title="Label : LoansBorrowingsAndDebenturesMember to label_LoansBorrowingsAndDebenturesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LoansBorrowingsAndDebenturesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoansBorrowingsAndDebenturesMember_2" xml:lang="en-US" id="label_LoansBorrowingsAndDebenturesMember_2">Loans, borrowings and debentures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansBorrowingsAndDebenturesMember" xlink:to="label_LoansBorrowingsAndDebenturesMember_2" xlink:title="Label : LoansBorrowingsAndDebenturesMember to label_LoansBorrowingsAndDebenturesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasesMember" xlink:label="LeasesMember" xlink:title="LeasesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasesMember" xml:lang="en-US" id="label_LeasesMember">This member stands for information pertaining to leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesMember" xlink:to="label_LeasesMember" xlink:title="Label : LeasesMember to label_LeasesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasesMember_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LeasesMember_1" xml:lang="en-US" id="label_LeasesMember_1">Leases [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesMember" xlink:to="label_LeasesMember_1" xlink:title="Label : LeasesMember to label_LeasesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesMember_2" xml:lang="en-US" id="label_LeasesMember_2">Leases [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesMember" xlink:to="label_LeasesMember_2" xlink:title="Label : LeasesMember to label_LeasesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_LeasesMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesMember_3" xml:lang="en-US" id="label_LeasesMember_3">Leases [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesMember" xlink:to="label_LeasesMember_3" xlink:title="Label : LeasesMember to label_LeasesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradePayablesMember" xlink:label="TradePayablesMember" xlink:title="TradePayablesMember" />
    <link:label xlink:type="resource" xlink:label="label_TradePayablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradePayablesMember" xml:lang="en-US" id="label_TradePayablesMember">This member stands for information pertaining to trade payables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayablesMember" xlink:to="label_TradePayablesMember" xlink:title="Label : TradePayablesMember to label_TradePayablesMember" />
    <link:label xlink:type="resource" xlink:label="label_TradePayablesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradePayablesMember_1" xml:lang="en-US" id="label_TradePayablesMember_1">Trade payables [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayablesMember" xlink:to="label_TradePayablesMember_1" xlink:title="Label : TradePayablesMember to label_TradePayablesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TradePayablesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradePayablesMember_2" xml:lang="en-US" id="label_TradePayablesMember_2">Trade Payables [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayablesMember" xlink:to="label_TradePayablesMember_2" xlink:title="Label : TradePayablesMember to label_TradePayablesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherFinancialLiabilityMember" xlink:label="OtherFinancialLiabilityMember" xlink:title="OtherFinancialLiabilityMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherFinancialLiabilityMember" xml:lang="en-US" id="label_OtherFinancialLiabilityMember">This member stands for information pertaining to other financial liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialLiabilityMember" xlink:to="label_OtherFinancialLiabilityMember" xlink:title="Label : OtherFinancialLiabilityMember to label_OtherFinancialLiabilityMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialLiabilityMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherFinancialLiabilityMember_1" xml:lang="en-US" id="label_OtherFinancialLiabilityMember_1">Other financial liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialLiabilityMember" xlink:to="label_OtherFinancialLiabilityMember_1" xlink:title="Label : OtherFinancialLiabilityMember to label_OtherFinancialLiabilityMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialLiabilityMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinancialLiabilityMember_2" xml:lang="en-US" id="label_OtherFinancialLiabilityMember_2">Other Financial Liability [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialLiabilityMember" xlink:to="label_OtherFinancialLiabilityMember_2" xlink:title="Label : OtherFinancialLiabilityMember to label_OtherFinancialLiabilityMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PayablesToRelatedPartiesMember" xlink:label="PayablesToRelatedPartiesMember" xlink:title="PayablesToRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PayablesToRelatedPartiesMember" xml:lang="en-US" id="label_PayablesToRelatedPartiesMember">This member stands for information pertaining to payables to related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesMember" xlink:to="label_PayablesToRelatedPartiesMember" xlink:title="Label : PayablesToRelatedPartiesMember to label_PayablesToRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PayablesToRelatedPartiesMember_1" xml:lang="en-US" id="label_PayablesToRelatedPartiesMember_1">Payables to related parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesMember" xlink:to="label_PayablesToRelatedPartiesMember_1" xlink:title="Label : PayablesToRelatedPartiesMember to label_PayablesToRelatedPartiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PayablesToRelatedPartiesMember_2" xml:lang="en-US" id="label_PayablesToRelatedPartiesMember_2">Payables To Related Parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesMember" xlink:to="label_PayablesToRelatedPartiesMember_2" xlink:title="Label : PayablesToRelatedPartiesMember to label_PayablesToRelatedPartiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailroadConcessionPayableMember" xlink:label="RailroadConcessionPayableMember" xlink:title="RailroadConcessionPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_RailroadConcessionPayableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RailroadConcessionPayableMember" xml:lang="en-US" id="label_RailroadConcessionPayableMember">Railroad concession payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadConcessionPayableMember" xlink:to="label_RailroadConcessionPayableMember" xlink:title="Label : RailroadConcessionPayableMember to label_RailroadConcessionPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_RailroadConcessionPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RailroadConcessionPayableMember_1" xml:lang="en-US" id="label_RailroadConcessionPayableMember_1">Railroad Concession Payable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadConcessionPayableMember" xlink:to="label_RailroadConcessionPayableMember_1" xlink:title="Label : RailroadConcessionPayableMember to label_RailroadConcessionPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RailroadConcessionPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RailroadConcessionPayableMember_2" xml:lang="en-US" id="label_RailroadConcessionPayableMember_2">This member stands for information pertaining to railroad concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadConcessionPayableMember" xlink:to="label_RailroadConcessionPayableMember_2" xlink:title="Label : RailroadConcessionPayableMember to label_RailroadConcessionPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredShareholdersPayableInSubsidiariesMember" xlink:label="PreferredShareholdersPayableInSubsidiariesMember" xlink:title="PreferredShareholdersPayableInSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableInSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredShareholdersPayableInSubsidiariesMember" xml:lang="en-US" id="label_PreferredShareholdersPayableInSubsidiariesMember">This member stands for information pertaining to preferred shareholders payable in subsidiaries.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableInSubsidiariesMember" xlink:to="label_PreferredShareholdersPayableInSubsidiariesMember" xlink:title="Label : PreferredShareholdersPayableInSubsidiariesMember to label_PreferredShareholdersPayableInSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableInSubsidiariesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredShareholdersPayableInSubsidiariesMember_1" xml:lang="en-US" id="label_PreferredShareholdersPayableInSubsidiariesMember_1">Preferred shareholders payable in subsidiaries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableInSubsidiariesMember" xlink:to="label_PreferredShareholdersPayableInSubsidiariesMember_1" xlink:title="Label : PreferredShareholdersPayableInSubsidiariesMember to label_PreferredShareholdersPayableInSubsidiariesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferredShareholdersPayableInSubsidiariesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredShareholdersPayableInSubsidiariesMember_2" xml:lang="en-US" id="label_PreferredShareholdersPayableInSubsidiariesMember_2">Preferred Shareholders Payable In Subsidiaries [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredShareholdersPayableInSubsidiariesMember" xlink:to="label_PreferredShareholdersPayableInSubsidiariesMember_2" xlink:title="Label : PreferredShareholdersPayableInSubsidiariesMember to label_PreferredShareholdersPayableInSubsidiariesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsPayableMember" xlink:label="DividendsPayableMember" xlink:title="DividendsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsPayableMember" xml:lang="en-US" id="label_DividendsPayableMember">This member stands for information pertaining to dividends payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableMember" xlink:to="label_DividendsPayableMember" xlink:title="Label : DividendsPayableMember to label_DividendsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsPayableMember_1" xml:lang="en-US" id="label_DividendsPayableMember_1">Dividends payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableMember" xlink:to="label_DividendsPayableMember_1" xlink:title="Label : DividendsPayableMember to label_DividendsPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPayableMember_2" xml:lang="en-US" id="label_DividendsPayableMember_2">Dividends Payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableMember" xlink:to="label_DividendsPayableMember_2" xlink:title="Label : DividendsPayableMember to label_DividendsPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SectorFinancialLiabilitiesMember" xlink:label="SectorFinancialLiabilitiesMember" xlink:title="SectorFinancialLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SectorFinancialLiabilitiesMember" xml:lang="en-US" id="label_SectorFinancialLiabilitiesMember">Sectorial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilitiesMember" xlink:to="label_SectorFinancialLiabilitiesMember" xlink:title="Label : SectorFinancialLiabilitiesMember to label_SectorFinancialLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SectorFinancialLiabilitiesMember_1" xml:lang="en-US" id="label_SectorFinancialLiabilitiesMember_1">This member stands for information pertaining to sector financial liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilitiesMember" xlink:to="label_SectorFinancialLiabilitiesMember_1" xlink:title="Label : SectorFinancialLiabilitiesMember to label_SectorFinancialLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SectorFinancialLiabilitiesMember_2" xml:lang="en-US" id="label_SectorFinancialLiabilitiesMember_2">Sector Financial Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilitiesMember" xlink:to="label_SectorFinancialLiabilitiesMember_2" xlink:title="Label : SectorFinancialLiabilitiesMember to label_SectorFinancialLiabilitiesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialLiabilitiesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SectorFinancialLiabilitiesMember_3" xml:lang="en-US" id="label_SectorFinancialLiabilitiesMember_3">Sector financial liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialLiabilitiesMember" xlink:to="label_SectorFinancialLiabilitiesMember_3" xlink:title="Label : SectorFinancialLiabilitiesMember to label_SectorFinancialLiabilitiesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxInstallmentsREFISMember" xlink:label="TaxInstallmentsREFISMember" xlink:title="TaxInstallmentsREFISMember" />
    <link:label xlink:type="resource" xlink:label="label_TaxInstallmentsREFISMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxInstallmentsREFISMember" xml:lang="en-US" id="label_TaxInstallmentsREFISMember">Tax Installments REFIS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxInstallmentsREFISMember" xlink:to="label_TaxInstallmentsREFISMember" xlink:title="Label : TaxInstallmentsREFISMember to label_TaxInstallmentsREFISMember" />
    <link:label xlink:type="resource" xlink:label="label_TaxInstallmentsREFISMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxInstallmentsREFISMember_1" xml:lang="en-US" id="label_TaxInstallmentsREFISMember_1">REFIS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxInstallmentsREFISMember" xlink:to="label_TaxInstallmentsREFISMember_1" xlink:title="Label : TaxInstallmentsREFISMember to label_TaxInstallmentsREFISMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxInstallmentsREFISMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxInstallmentsREFISMember_2" xml:lang="en-US" id="label_TaxInstallmentsREFISMember_2">This member stands for information pertaining to tax installments of REFIS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxInstallmentsREFISMember" xlink:to="label_TaxInstallmentsREFISMember_2" xlink:title="Label : TaxInstallmentsREFISMember to label_TaxInstallmentsREFISMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContingentConsiderationMember" xlink:label="ContingentConsiderationMember" xlink:title="ContingentConsiderationMember" />
    <link:label xlink:type="resource" xlink:label="label_ContingentConsiderationMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ContingentConsiderationMember" xml:lang="en-US" id="label_ContingentConsiderationMember">Consideration payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentConsiderationMember" xlink:to="label_ContingentConsiderationMember" xlink:title="Label : ContingentConsiderationMember to label_ContingentConsiderationMember" />
    <link:label xlink:type="resource" xlink:label="label_ContingentConsiderationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentConsiderationMember_1" xml:lang="en-US" id="label_ContingentConsiderationMember_1">Contingent consideration [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentConsiderationMember" xlink:to="label_ContingentConsiderationMember_1" xlink:title="Label : ContingentConsiderationMember to label_ContingentConsiderationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ContingentConsiderationMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentConsiderationMember_2" xml:lang="en-US" id="label_ContingentConsiderationMember_2">Contingent consideration [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentConsiderationMember" xlink:to="label_ContingentConsiderationMember_2" xlink:title="Label : ContingentConsiderationMember to label_ContingentConsiderationMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:label="DisclosureOfFinancialLiabilitiesLineItems" xlink:title="DisclosureOfFinancialLiabilitiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialLiabilitiesLineItems" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesLineItems">Disclosure of financial liabilities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="label_DisclosureOfFinancialLiabilitiesLineItems" xlink:title="Label : DisclosureOfFinancialLiabilitiesLineItems to label_DisclosureOfFinancialLiabilitiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialLiabilitiesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialLiabilitiesLineItems_1" xml:lang="en-US" id="label_DisclosureOfFinancialLiabilitiesLineItems_1">Disclosure of financial liabilities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialLiabilitiesLineItems" xlink:to="label_DisclosureOfFinancialLiabilitiesLineItems_1" xlink:title="Label : DisclosureOfFinancialLiabilitiesLineItems to label_DisclosureOfFinancialLiabilitiesLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilities" xlink:label="FinancialLiabilities" xlink:title="FinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilities" xml:lang="en-US" id="label_FinancialLiabilities">Financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilities_1" xml:lang="en-US" id="label_FinancialLiabilities_1">Financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_1" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_FinancialLiabilities_2" xml:lang="en-US" id="label_FinancialLiabilities_2">Financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_2" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_FinancialLiabilities_3" xml:lang="en-US" id="label_FinancialLiabilities_3">Beginning Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_3" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities_3" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilities_4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_FinancialLiabilities_4" xml:lang="en-US" id="label_FinancialLiabilities_4">Ending Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilities" xlink:to="label_FinancialLiabilities_4" xlink:title="Label : FinancialLiabilities to label_FinancialLiabilities_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Cash" xlink:label="Cash" xlink:title="Cash" />
    <link:label xlink:type="resource" xlink:label="label_Cash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Cash" xml:lang="en-US" id="label_Cash">Cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cash" xlink:to="label_Cash" xlink:title="Label : Cash to label_Cash" />
    <link:label xlink:type="resource" xlink:label="label_Cash_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Cash_1" xml:lang="en-US" id="label_Cash_1">Cash and bank accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Cash" xlink:to="label_Cash_1" xlink:title="Label : Cash to label_Cash_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="ShorttermDepositsClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermDepositsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShorttermDepositsClassifiedAsCashEquivalents" xml:lang="en-US" id="label_ShorttermDepositsClassifiedAsCashEquivalents">Short-term deposits, classified as cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="label_ShorttermDepositsClassifiedAsCashEquivalents" xlink:title="Label : ShorttermDepositsClassifiedAsCashEquivalents to label_ShorttermDepositsClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermDepositsClassifiedAsCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShorttermDepositsClassifiedAsCashEquivalents_1" xml:lang="en-US" id="label_ShorttermDepositsClassifiedAsCashEquivalents_1">Savings account</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="label_ShorttermDepositsClassifiedAsCashEquivalents_1" xlink:title="Label : ShorttermDepositsClassifiedAsCashEquivalents to label_ShorttermDepositsClassifiedAsCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:title="ShorttermInvestmentsClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShorttermInvestmentsClassifiedAsCashEquivalents" xml:lang="en-US" id="label_ShorttermInvestmentsClassifiedAsCashEquivalents">Short-term investments, classified as cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="label_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:title="Label : ShorttermInvestmentsClassifiedAsCashEquivalents to label_ShorttermInvestmentsClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ShorttermInvestmentsClassifiedAsCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShorttermInvestmentsClassifiedAsCashEquivalents_1" xml:lang="en-US" id="label_ShorttermInvestmentsClassifiedAsCashEquivalents_1">Financial investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="label_ShorttermInvestmentsClassifiedAsCashEquivalents_1" xlink:title="Label : ShorttermInvestmentsClassifiedAsCashEquivalents to label_ShorttermInvestmentsClassifiedAsCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashAndCashEquivalentsTable" xlink:label="CashAndCashEquivalentsTable" xlink:title="CashAndCashEquivalentsTable" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsTable" xml:lang="en-US" id="label_CashAndCashEquivalentsTable">Cash And Cash Equivalents [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsTable" xlink:to="label_CashAndCashEquivalentsTable" xlink:title="Label : CashAndCashEquivalentsTable to label_CashAndCashEquivalentsTable" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsTable_1" xml:lang="en-US" id="label_CashAndCashEquivalentsTable_1">Cash And Cash Equivalents [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsTable" xlink:to="label_CashAndCashEquivalentsTable_1" xlink:title="Label : CashAndCashEquivalentsTable to label_CashAndCashEquivalentsTable_1" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashAndCashEquivalentsTable_2" xml:lang="en-US" id="label_CashAndCashEquivalentsTable_2">Cash and cash equivalents.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsTable" xlink:to="label_CashAndCashEquivalentsTable_2" xlink:title="Label : CashAndCashEquivalentsTable to label_CashAndCashEquivalentsTable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnconsolidatedStructuredEntitiesAxis" xlink:label="UnconsolidatedStructuredEntitiesAxis" xlink:title="UnconsolidatedStructuredEntitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_UnconsolidatedStructuredEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnconsolidatedStructuredEntitiesAxis" xml:lang="en-US" id="label_UnconsolidatedStructuredEntitiesAxis">Unconsolidated structured entities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnconsolidatedStructuredEntitiesAxis" xlink:to="label_UnconsolidatedStructuredEntitiesAxis" xlink:title="Label : UnconsolidatedStructuredEntitiesAxis to label_UnconsolidatedStructuredEntitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_UnconsolidatedStructuredEntitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnconsolidatedStructuredEntitiesAxis_1" xml:lang="en-US" id="label_UnconsolidatedStructuredEntitiesAxis_1">Unconsolidated structured entities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnconsolidatedStructuredEntitiesAxis" xlink:to="label_UnconsolidatedStructuredEntitiesAxis_1" xlink:title="Label : UnconsolidatedStructuredEntitiesAxis to label_UnconsolidatedStructuredEntitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:label="EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:title="EntitysTotalForUnconsolidatedStructuredEntitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xml:lang="en-US" id="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember">Entity's total for unconsolidated structured entities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:to="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:title="Label : EntitysTotalForUnconsolidatedStructuredEntitiesMember to label_EntitysTotalForUnconsolidatedStructuredEntitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember_1" xml:lang="en-US" id="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember_1">Entity's total for unconsolidated structured entities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:to="label_EntitysTotalForUnconsolidatedStructuredEntitiesMember_1" xlink:title="Label : EntitysTotalForUnconsolidatedStructuredEntitiesMember to label_EntitysTotalForUnconsolidatedStructuredEntitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentFundsMember" xlink:label="InvestmentFundsMember" xlink:title="InvestmentFundsMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentFundsMember" xml:lang="en-US" id="label_InvestmentFundsMember">Investment fund [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundsMember" xlink:to="label_InvestmentFundsMember" xlink:title="Label : InvestmentFundsMember to label_InvestmentFundsMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentFundsMember_1" xml:lang="en-US" id="label_InvestmentFundsMember_1">Investment funds [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundsMember" xlink:to="label_InvestmentFundsMember_1" xlink:title="Label : InvestmentFundsMember to label_InvestmentFundsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BankInvestmentsMember" xlink:label="BankInvestmentsMember" xlink:title="BankInvestmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_BankInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankInvestmentsMember" xml:lang="en-US" id="label_BankInvestmentsMember">Bank Investments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankInvestmentsMember" xlink:to="label_BankInvestmentsMember" xlink:title="Label : BankInvestmentsMember to label_BankInvestmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_BankInvestmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankInvestmentsMember_1" xml:lang="en-US" id="label_BankInvestmentsMember_1">Bank investments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankInvestmentsMember" xlink:to="label_BankInvestmentsMember_1" xlink:title="Label : BankInvestmentsMember to label_BankInvestmentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BankInvestmentsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankInvestmentsMember_2" xml:lang="en-US" id="label_BankInvestmentsMember_2">Bank investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankInvestmentsMember" xlink:to="label_BankInvestmentsMember_2" xlink:title="Label : BankInvestmentsMember to label_BankInvestmentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RepurchaseAgreements1Member" xlink:label="RepurchaseAgreements1Member" xlink:title="RepurchaseAgreements1Member" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseAgreements1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepurchaseAgreements1Member" xml:lang="en-US" id="label_RepurchaseAgreements1Member">Repurchase agreements 1 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreements1Member" xlink:to="label_RepurchaseAgreements1Member" xlink:title="Label : RepurchaseAgreements1Member to label_RepurchaseAgreements1Member" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseAgreements1Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RepurchaseAgreements1Member_1" xml:lang="en-US" id="label_RepurchaseAgreements1Member_1">Repurchase agreements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreements1Member" xlink:to="label_RepurchaseAgreements1Member_1" xlink:title="Label : RepurchaseAgreements1Member to label_RepurchaseAgreements1Member_1" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseAgreements1Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RepurchaseAgreements1Member_2" xml:lang="en-US" id="label_RepurchaseAgreements1Member_2">Repurchase agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreements1Member" xlink:to="label_RepurchaseAgreements1Member_2" xlink:title="Label : RepurchaseAgreements1Member to label_RepurchaseAgreements1Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BankCertificateOfDepositsMember" xlink:label="BankCertificateOfDepositsMember" xlink:title="BankCertificateOfDepositsMember" />
    <link:label xlink:type="resource" xlink:label="label_BankCertificateOfDepositsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BankCertificateOfDepositsMember" xml:lang="en-US" id="label_BankCertificateOfDepositsMember">Bank certificate of deposits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankCertificateOfDepositsMember" xlink:to="label_BankCertificateOfDepositsMember" xlink:title="Label : BankCertificateOfDepositsMember to label_BankCertificateOfDepositsMember" />
    <link:label xlink:type="resource" xlink:label="label_BankCertificateOfDepositsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankCertificateOfDepositsMember_1" xml:lang="en-US" id="label_BankCertificateOfDepositsMember_1">Bank Certificate Of Deposits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankCertificateOfDepositsMember" xlink:to="label_BankCertificateOfDepositsMember_1" xlink:title="Label : BankCertificateOfDepositsMember to label_BankCertificateOfDepositsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BankCertificateOfDepositsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankCertificateOfDepositsMember_2" xml:lang="en-US" id="label_BankCertificateOfDepositsMember_2">CDB [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankCertificateOfDepositsMember" xlink:to="label_BankCertificateOfDepositsMember_2" xlink:title="Label : BankCertificateOfDepositsMember to label_BankCertificateOfDepositsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherBankInvestmentsMember" xlink:label="OtherBankInvestmentsMember" xlink:title="OtherBankInvestmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherBankInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherBankInvestmentsMember" xml:lang="en-US" id="label_OtherBankInvestmentsMember">Other Bank Investments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherBankInvestmentsMember" xlink:to="label_OtherBankInvestmentsMember" xlink:title="Label : OtherBankInvestmentsMember to label_OtherBankInvestmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherBankInvestmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherBankInvestmentsMember_1" xml:lang="en-US" id="label_OtherBankInvestmentsMember_1">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherBankInvestmentsMember" xlink:to="label_OtherBankInvestmentsMember_1" xlink:title="Label : OtherBankInvestmentsMember to label_OtherBankInvestmentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherBankInvestmentsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherBankInvestmentsMember_2" xml:lang="en-US" id="label_OtherBankInvestmentsMember_2">Other bank investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherBankInvestmentsMember" xlink:to="label_OtherBankInvestmentsMember_2" xlink:title="Label : OtherBankInvestmentsMember to label_OtherBankInvestmentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashAndCashEquivalents1LineItems" xlink:label="CashAndCashEquivalents1LineItems" xlink:title="CashAndCashEquivalents1LineItems" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents1LineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalents1LineItems" xml:lang="en-US" id="label_CashAndCashEquivalents1LineItems">Cash and cash equivalents1 [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents1LineItems" xlink:to="label_CashAndCashEquivalents1LineItems" xlink:title="Label : CashAndCashEquivalents1LineItems to label_CashAndCashEquivalents1LineItems" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents1LineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalents1LineItems_1" xml:lang="en-US" id="label_CashAndCashEquivalents1LineItems_1">Cash and cash equivalents1 [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents1LineItems" xlink:to="label_CashAndCashEquivalents1LineItems_1" xlink:title="Label : CashAndCashEquivalents1LineItems to label_CashAndCashEquivalents1LineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalents1LineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashAndCashEquivalents1LineItems_2" xml:lang="en-US" id="label_CashAndCashEquivalents1LineItems_2">Cash and cash equivalents1 [line items].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalents1LineItems" xlink:to="label_CashAndCashEquivalents1LineItems_2" xlink:title="Label : CashAndCashEquivalents1LineItems to label_CashAndCashEquivalents1LineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:label="PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:title="PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" />
    <link:label xlink:type="resource" xlink:label="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xml:lang="en-US" id="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue">Principal amount of consideration transferred, acquisition-date fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:to="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:title="Label : PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue to label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" />
    <link:label xlink:type="resource" xlink:label="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_1" xml:lang="en-US" id="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_1">Principal amount of consideration transferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:to="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_1" xlink:title="Label : PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue to label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfFinancialResourcesTable" xlink:label="DisclosureOfFinancialResourcesTable" xlink:title="DisclosureOfFinancialResourcesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialResourcesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialResourcesTable" xml:lang="en-US" id="label_DisclosureOfFinancialResourcesTable">Disclosure of Financial Resources [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialResourcesTable" xlink:to="label_DisclosureOfFinancialResourcesTable" xlink:title="Label : DisclosureOfFinancialResourcesTable to label_DisclosureOfFinancialResourcesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialResourcesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialResourcesTable_1" xml:lang="en-US" id="label_DisclosureOfFinancialResourcesTable_1">Disclosure of Financial Resources [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialResourcesTable" xlink:to="label_DisclosureOfFinancialResourcesTable_1" xlink:title="Label : DisclosureOfFinancialResourcesTable to label_DisclosureOfFinancialResourcesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialResourcesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfFinancialResourcesTable_2" xml:lang="en-US" id="label_DisclosureOfFinancialResourcesTable_2">Disclosure of Financial Resources [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialResourcesTable" xlink:to="label_DisclosureOfFinancialResourcesTable_2" xlink:title="Label : DisclosureOfFinancialResourcesTable to label_DisclosureOfFinancialResourcesTable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="BorrowingsByNameAxis" xlink:title="BorrowingsByNameAxis" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsByNameAxis" xml:lang="en-US" id="label_BorrowingsByNameAxis">Borrowings by name [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameAxis" xlink:to="label_BorrowingsByNameAxis" xlink:title="Label : BorrowingsByNameAxis to label_BorrowingsByNameAxis" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsByNameAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsByNameAxis_1" xml:lang="en-US" id="label_BorrowingsByNameAxis_1">Borrowings by name [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameAxis" xlink:to="label_BorrowingsByNameAxis_1" xlink:title="Label : BorrowingsByNameAxis to label_BorrowingsByNameAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="BorrowingsByNameMember" xlink:title="BorrowingsByNameMember" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsByNameMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsByNameMember" xml:lang="en-US" id="label_BorrowingsByNameMember">Borrowings by name [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameMember" xlink:to="label_BorrowingsByNameMember" xlink:title="Label : BorrowingsByNameMember to label_BorrowingsByNameMember" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsByNameMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsByNameMember_1" xml:lang="en-US" id="label_BorrowingsByNameMember_1">Borrowings by name [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsByNameMember" xlink:to="label_BorrowingsByNameMember_1" xlink:title="Label : BorrowingsByNameMember to label_BorrowingsByNameMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BNDESMember" xlink:label="BNDESMember" xlink:title="BNDESMember" />
    <link:label xlink:type="resource" xlink:label="label_BNDESMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BNDESMember" xml:lang="en-US" id="label_BNDESMember">BNDES [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BNDESMember" xlink:to="label_BNDESMember" xlink:title="Label : BNDESMember to label_BNDESMember" />
    <link:label xlink:type="resource" xlink:label="label_BNDESMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BNDESMember_1" xml:lang="en-US" id="label_BNDESMember_1">BNDES [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BNDESMember" xlink:to="label_BNDESMember_1" xlink:title="Label : BNDESMember to label_BNDESMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BNDESMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BNDESMember_2" xml:lang="en-US" id="label_BNDESMember_2">BNDES.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BNDESMember" xlink:to="label_BNDESMember_2" xlink:title="Label : BNDESMember to label_BNDESMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ThreeBrazilianFinancialInstitutionsMember" xlink:label="ThreeBrazilianFinancialInstitutionsMember" xlink:title="ThreeBrazilianFinancialInstitutionsMember" />
    <link:label xlink:type="resource" xlink:label="label_ThreeBrazilianFinancialInstitutionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ThreeBrazilianFinancialInstitutionsMember" xml:lang="en-US" id="label_ThreeBrazilianFinancialInstitutionsMember">Three Brazilian Financial Institutions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThreeBrazilianFinancialInstitutionsMember" xlink:to="label_ThreeBrazilianFinancialInstitutionsMember" xlink:title="Label : ThreeBrazilianFinancialInstitutionsMember to label_ThreeBrazilianFinancialInstitutionsMember" />
    <link:label xlink:type="resource" xlink:label="label_ThreeBrazilianFinancialInstitutionsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ThreeBrazilianFinancialInstitutionsMember_1" xml:lang="en-US" id="label_ThreeBrazilianFinancialInstitutionsMember_1">Three Brazilian financial institutions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThreeBrazilianFinancialInstitutionsMember" xlink:to="label_ThreeBrazilianFinancialInstitutionsMember_1" xlink:title="Label : ThreeBrazilianFinancialInstitutionsMember to label_ThreeBrazilianFinancialInstitutionsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ThreeBrazilianFinancialInstitutionsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ThreeBrazilianFinancialInstitutionsMember_2" xml:lang="en-US" id="label_ThreeBrazilianFinancialInstitutionsMember_2">Three Brazilian financial institutions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThreeBrazilianFinancialInstitutionsMember" xlink:to="label_ThreeBrazilianFinancialInstitutionsMember_2" xlink:title="Label : ThreeBrazilianFinancialInstitutionsMember to label_ThreeBrazilianFinancialInstitutionsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RangeAxis" xlink:label="RangeAxis" xlink:title="RangeAxis" />
    <link:label xlink:type="resource" xlink:label="label_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RangeAxis" xml:lang="en-US" id="label_RangeAxis">Range [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeAxis" xlink:to="label_RangeAxis" xlink:title="Label : RangeAxis to label_RangeAxis" />
    <link:label xlink:type="resource" xlink:label="label_RangeAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RangeAxis_1" xml:lang="en-US" id="label_RangeAxis_1">Range [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangeAxis" xlink:to="label_RangeAxis_1" xlink:title="Label : RangeAxis to label_RangeAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RangesMember" xlink:label="RangesMember" xlink:title="RangesMember" />
    <link:label xlink:type="resource" xlink:label="label_RangesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RangesMember" xml:lang="en-US" id="label_RangesMember">Ranges [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangesMember" xlink:to="label_RangesMember" xlink:title="Label : RangesMember to label_RangesMember" />
    <link:label xlink:type="resource" xlink:label="label_RangesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RangesMember_1" xml:lang="en-US" id="label_RangesMember_1">Ranges [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RangesMember" xlink:to="label_RangesMember_1" xlink:title="Label : RangesMember to label_RangesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BottomOfRangeMember" xlink:label="BottomOfRangeMember" xlink:title="BottomOfRangeMember" />
    <link:label xlink:type="resource" xlink:label="label_BottomOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BottomOfRangeMember" xml:lang="en-US" id="label_BottomOfRangeMember">Bottom of range [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BottomOfRangeMember" xlink:to="label_BottomOfRangeMember" xlink:title="Label : BottomOfRangeMember to label_BottomOfRangeMember" />
    <link:label xlink:type="resource" xlink:label="label_BottomOfRangeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BottomOfRangeMember_1" xml:lang="en-US" id="label_BottomOfRangeMember_1">Bottom of range [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BottomOfRangeMember" xlink:to="label_BottomOfRangeMember_1" xlink:title="Label : BottomOfRangeMember to label_BottomOfRangeMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TopOfRangeMember" xlink:label="TopOfRangeMember" xlink:title="TopOfRangeMember" />
    <link:label xlink:type="resource" xlink:label="label_TopOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TopOfRangeMember" xml:lang="en-US" id="label_TopOfRangeMember">Top of range [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TopOfRangeMember" xlink:to="label_TopOfRangeMember" xlink:title="Label : TopOfRangeMember to label_TopOfRangeMember" />
    <link:label xlink:type="resource" xlink:label="label_TopOfRangeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TopOfRangeMember_1" xml:lang="en-US" id="label_TopOfRangeMember_1">Top of range [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TopOfRangeMember" xlink:to="label_TopOfRangeMember_1" xlink:title="Label : TopOfRangeMember to label_TopOfRangeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TopOfRangeMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TopOfRangeMember_2" xml:lang="en-US" id="label_TopOfRangeMember_2">Maximum [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TopOfRangeMember" xlink:to="label_TopOfRangeMember_2" xlink:title="Label : TopOfRangeMember to label_TopOfRangeMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MaturityAxis" xlink:label="MaturityAxis" xlink:title="MaturityAxis" />
    <link:label xlink:type="resource" xlink:label="label_MaturityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityAxis" xml:lang="en-US" id="label_MaturityAxis">Maturity [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityAxis" xlink:to="label_MaturityAxis" xlink:title="Label : MaturityAxis to label_MaturityAxis" />
    <link:label xlink:type="resource" xlink:label="label_MaturityAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityAxis_1" xml:lang="en-US" id="label_MaturityAxis_1">Maturity [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityAxis" xlink:to="label_MaturityAxis_1" xlink:title="Label : MaturityAxis to label_MaturityAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="AggregatedTimeBandsMember" xlink:title="AggregatedTimeBandsMember" />
    <link:label xlink:type="resource" xlink:label="label_AggregatedTimeBandsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AggregatedTimeBandsMember" xml:lang="en-US" id="label_AggregatedTimeBandsMember">Aggregated time bands [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedTimeBandsMember" xlink:to="label_AggregatedTimeBandsMember" xlink:title="Label : AggregatedTimeBandsMember to label_AggregatedTimeBandsMember" />
    <link:label xlink:type="resource" xlink:label="label_AggregatedTimeBandsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AggregatedTimeBandsMember_1" xml:lang="en-US" id="label_AggregatedTimeBandsMember_1">Aggregated time bands [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedTimeBandsMember" xlink:to="label_AggregatedTimeBandsMember_1" xlink:title="Label : AggregatedTimeBandsMember to label_AggregatedTimeBandsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_HedgingInstrumentsAxis" xlink:label="HedgingInstrumentsAxis" xlink:title="HedgingInstrumentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_HedgingInstrumentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgingInstrumentsAxis" xml:lang="en-US" id="label_HedgingInstrumentsAxis">Hedging instruments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingInstrumentsAxis" xlink:to="label_HedgingInstrumentsAxis" xlink:title="Label : HedgingInstrumentsAxis to label_HedgingInstrumentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_HedgingInstrumentsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HedgingInstrumentsAxis_1" xml:lang="en-US" id="label_HedgingInstrumentsAxis_1">Hedging instruments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingInstrumentsAxis" xlink:to="label_HedgingInstrumentsAxis_1" xlink:title="Label : HedgingInstrumentsAxis to label_HedgingInstrumentsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_HedgingInstrumentsMember" xlink:label="HedgingInstrumentsMember" xlink:title="HedgingInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_HedgingInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgingInstrumentsMember" xml:lang="en-US" id="label_HedgingInstrumentsMember">Hedging instruments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingInstrumentsMember" xlink:to="label_HedgingInstrumentsMember" xlink:title="Label : HedgingInstrumentsMember to label_HedgingInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_HedgingInstrumentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HedgingInstrumentsMember_1" xml:lang="en-US" id="label_HedgingInstrumentsMember_1">Hedging instruments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingInstrumentsMember" xlink:to="label_HedgingInstrumentsMember_1" xlink:title="Label : HedgingInstrumentsMember to label_HedgingInstrumentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialCommitmentsAxis" xlink:label="FinancialCommitmentsAxis" xlink:title="FinancialCommitmentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialCommitmentsAxis" xml:lang="en-US" id="label_FinancialCommitmentsAxis">Financial commitments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentsAxis" xlink:to="label_FinancialCommitmentsAxis" xlink:title="Label : FinancialCommitmentsAxis to label_FinancialCommitmentsAxis" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialCommitmentsAxis_1" xml:lang="en-US" id="label_FinancialCommitmentsAxis_1">Financial commitments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentsAxis" xlink:to="label_FinancialCommitmentsAxis_1" xlink:title="Label : FinancialCommitmentsAxis to label_FinancialCommitmentsAxis_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentsAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialCommitmentsAxis_2" xml:lang="en-US" id="label_FinancialCommitmentsAxis_2">Financial commitments [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentsAxis" xlink:to="label_FinancialCommitmentsAxis_2" xlink:title="Label : FinancialCommitmentsAxis to label_FinancialCommitmentsAxis_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialCommitmentsDomain" xlink:label="FinancialCommitmentsDomain" xlink:title="FinancialCommitmentsDomain" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialCommitmentsDomain" xml:lang="en-US" id="label_FinancialCommitmentsDomain">Financial commitments [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentsDomain" xlink:to="label_FinancialCommitmentsDomain" xlink:title="Label : FinancialCommitmentsDomain to label_FinancialCommitmentsDomain" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentsDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialCommitmentsDomain_1" xml:lang="en-US" id="label_FinancialCommitmentsDomain_1">Financial commitments [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentsDomain" xlink:to="label_FinancialCommitmentsDomain_1" xlink:title="Label : FinancialCommitmentsDomain to label_FinancialCommitmentsDomain_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentsDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialCommitmentsDomain_2" xml:lang="en-US" id="label_FinancialCommitmentsDomain_2">Financial commitments [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentsDomain" xlink:to="label_FinancialCommitmentsDomain_2" xlink:title="Label : FinancialCommitmentsDomain to label_FinancialCommitmentsDomain_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterBankDepositCertificateMember" xlink:label="InterBankDepositCertificateMember" xlink:title="InterBankDepositCertificateMember" />
    <link:label xlink:type="resource" xlink:label="label_InterBankDepositCertificateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterBankDepositCertificateMember" xml:lang="en-US" id="label_InterBankDepositCertificateMember">Inter Bank Deposit Certificate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterBankDepositCertificateMember" xlink:to="label_InterBankDepositCertificateMember" xlink:title="Label : InterBankDepositCertificateMember to label_InterBankDepositCertificateMember" />
    <link:label xlink:type="resource" xlink:label="label_InterBankDepositCertificateMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterBankDepositCertificateMember_1" xml:lang="en-US" id="label_InterBankDepositCertificateMember_1">Inter Bank Deposit Certificate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterBankDepositCertificateMember" xlink:to="label_InterBankDepositCertificateMember_1" xlink:title="Label : InterBankDepositCertificateMember to label_InterBankDepositCertificateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InterBankDepositCertificateMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterBankDepositCertificateMember_2" xml:lang="en-US" id="label_InterBankDepositCertificateMember_2">Inter bank deposit certificate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterBankDepositCertificateMember" xlink:to="label_InterBankDepositCertificateMember_2" xlink:title="Label : InterBankDepositCertificateMember to label_InterBankDepositCertificateMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FEDFUNDSMember" xlink:label="FEDFUNDSMember" xlink:title="FEDFUNDSMember" />
    <link:label xlink:type="resource" xlink:label="label_FEDFUNDSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FEDFUNDSMember" xml:lang="en-US" id="label_FEDFUNDSMember">FED FUNDS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FEDFUNDSMember" xlink:to="label_FEDFUNDSMember" xlink:title="Label : FEDFUNDSMember to label_FEDFUNDSMember" />
    <link:label xlink:type="resource" xlink:label="label_FEDFUNDSMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FEDFUNDSMember_1" xml:lang="en-US" id="label_FEDFUNDSMember_1">Fed Funds [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FEDFUNDSMember" xlink:to="label_FEDFUNDSMember_1" xlink:title="Label : FEDFUNDSMember to label_FEDFUNDSMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FEDFUNDSMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FEDFUNDSMember_2" xml:lang="en-US" id="label_FEDFUNDSMember_2">FED FUNDS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FEDFUNDSMember" xlink:to="label_FEDFUNDSMember_2" xlink:title="Label : FEDFUNDSMember to label_FEDFUNDSMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="TypesOfInterestRatesAxis" xlink:title="TypesOfInterestRatesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfInterestRatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfInterestRatesAxis" xml:lang="en-US" id="label_TypesOfInterestRatesAxis">Types of interest rates [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfInterestRatesAxis" xlink:to="label_TypesOfInterestRatesAxis" xlink:title="Label : TypesOfInterestRatesAxis to label_TypesOfInterestRatesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfInterestRatesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TypesOfInterestRatesAxis_1" xml:lang="en-US" id="label_TypesOfInterestRatesAxis_1">Types of interest rates [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfInterestRatesAxis" xlink:to="label_TypesOfInterestRatesAxis_1" xlink:title="Label : TypesOfInterestRatesAxis to label_TypesOfInterestRatesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestRateTypesMember" xlink:label="InterestRateTypesMember" xlink:title="InterestRateTypesMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateTypesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRateTypesMember" xml:lang="en-US" id="label_InterestRateTypesMember">Interest rate types [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateTypesMember" xlink:to="label_InterestRateTypesMember" xlink:title="Label : InterestRateTypesMember to label_InterestRateTypesMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateTypesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestRateTypesMember_1" xml:lang="en-US" id="label_InterestRateTypesMember_1">Interest rate types [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateTypesMember" xlink:to="label_InterestRateTypesMember_1" xlink:title="Label : InterestRateTypesMember to label_InterestRateTypesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexMember" xlink:label="CDIIndexMember" xlink:title="CDIIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexMember" xml:lang="en-US" id="label_CDIIndexMember">CDI index.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexMember" xlink:to="label_CDIIndexMember" xlink:title="Label : CDIIndexMember to label_CDIIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexMember_1" xml:lang="en-US" id="label_CDIIndexMember_1">CDI index [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexMember" xlink:to="label_CDIIndexMember_1" xlink:title="Label : CDIIndexMember to label_CDIIndexMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexMember_2" xml:lang="en-US" id="label_CDIIndexMember_2">C D I Index [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexMember" xlink:to="label_CDIIndexMember_2" xlink:title="Label : CDIIndexMember to label_CDIIndexMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CDIIndexMember_3" xml:lang="en-US" id="label_CDIIndexMember_3">CDI</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexMember" xlink:to="label_CDIIndexMember_3" xlink:title="Label : CDIIndexMember to label_CDIIndexMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TJLPIndexMember" xlink:label="TJLPIndexMember" xlink:title="TJLPIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_TJLPIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TJLPIndexMember" xml:lang="en-US" id="label_TJLPIndexMember">Tjlp Index [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPIndexMember" xlink:to="label_TJLPIndexMember" xlink:title="Label : TJLPIndexMember to label_TJLPIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_TJLPIndexMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TJLPIndexMember_1" xml:lang="en-US" id="label_TJLPIndexMember_1">TJLP</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPIndexMember" xlink:to="label_TJLPIndexMember_1" xlink:title="Label : TJLPIndexMember to label_TJLPIndexMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TJLPIndexMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TJLPIndexMember_2" xml:lang="en-US" id="label_TJLPIndexMember_2">This member stands for the information pertaining to index TJLP.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPIndexMember" xlink:to="label_TJLPIndexMember_2" xlink:title="Label : TJLPIndexMember to label_TJLPIndexMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfFinancialResourcesLineItems" xlink:label="DisclosureOfFinancialResourcesLineItems" xlink:title="DisclosureOfFinancialResourcesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialResourcesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialResourcesLineItems" xml:lang="en-US" id="label_DisclosureOfFinancialResourcesLineItems">Disclosure of Financial Resources [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialResourcesLineItems" xlink:to="label_DisclosureOfFinancialResourcesLineItems" xlink:title="Label : DisclosureOfFinancialResourcesLineItems to label_DisclosureOfFinancialResourcesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialResourcesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialResourcesLineItems_1" xml:lang="en-US" id="label_DisclosureOfFinancialResourcesLineItems_1">Disclosure of Financial Resources [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialResourcesLineItems" xlink:to="label_DisclosureOfFinancialResourcesLineItems_1" xlink:title="Label : DisclosureOfFinancialResourcesLineItems to label_DisclosureOfFinancialResourcesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialResourcesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfFinancialResourcesLineItems_2" xml:lang="en-US" id="label_DisclosureOfFinancialResourcesLineItems_2">Disclosure of financial resources.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialResourcesLineItems" xlink:to="label_DisclosureOfFinancialResourcesLineItems_2" xlink:title="Label : DisclosureOfFinancialResourcesLineItems to label_DisclosureOfFinancialResourcesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:label="PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:title="PercentageOfOnshoreFinancialInvestmentsRemuneration" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfOnshoreFinancialInvestmentsRemuneration" xml:lang="en-US" id="label_PercentageOfOnshoreFinancialInvestmentsRemuneration">Percentage of onshore financial Investments remuneration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:to="label_PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:title="Label : PercentageOfOnshoreFinancialInvestmentsRemuneration to label_PercentageOfOnshoreFinancialInvestmentsRemuneration" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_1" xml:lang="en-US" id="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_1">Onshore financial investments remunerated rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:to="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_1" xlink:title="Label : PercentageOfOnshoreFinancialInvestmentsRemuneration to label_PercentageOfOnshoreFinancialInvestmentsRemuneration_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_2" xml:lang="en-US" id="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_2">Percentage of onshore financial Investments remuneration.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOnshoreFinancialInvestmentsRemuneration" xlink:to="label_PercentageOfOnshoreFinancialInvestmentsRemuneration_2" xlink:title="Label : PercentageOfOnshoreFinancialInvestmentsRemuneration to label_PercentageOfOnshoreFinancialInvestmentsRemuneration_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:label="PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:title="PercentageOfOffshoreFinancialInvestmentsRemuneration" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfOffshoreFinancialInvestmentsRemuneration" xml:lang="en-US" id="label_PercentageOfOffshoreFinancialInvestmentsRemuneration">Percentage of offshore financial Investments remuneration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:to="label_PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:title="Label : PercentageOfOffshoreFinancialInvestmentsRemuneration to label_PercentageOfOffshoreFinancialInvestmentsRemuneration" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_1" xml:lang="en-US" id="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_1">Offshore financial investments remunerated rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:to="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_1" xlink:title="Label : PercentageOfOffshoreFinancialInvestmentsRemuneration to label_PercentageOfOffshoreFinancialInvestmentsRemuneration_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_2" xml:lang="en-US" id="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_2">Percentage of offshore financial Investments remuneration.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOffshoreFinancialInvestmentsRemuneration" xlink:to="label_PercentageOfOffshoreFinancialInvestmentsRemuneration_2" xlink:title="Label : PercentageOfOffshoreFinancialInvestmentsRemuneration to label_PercentageOfOffshoreFinancialInvestmentsRemuneration_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GuaranteeFeeRate" xlink:label="GuaranteeFeeRate" xlink:title="GuaranteeFeeRate" />
    <link:label xlink:type="resource" xlink:label="label_GuaranteeFeeRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GuaranteeFeeRate" xml:lang="en-US" id="label_GuaranteeFeeRate">Guarantee Fee Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GuaranteeFeeRate" xlink:to="label_GuaranteeFeeRate" xlink:title="Label : GuaranteeFeeRate to label_GuaranteeFeeRate" />
    <link:label xlink:type="resource" xlink:label="label_GuaranteeFeeRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GuaranteeFeeRate_1" xml:lang="en-US" id="label_GuaranteeFeeRate_1">Bank guarantee rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GuaranteeFeeRate" xlink:to="label_GuaranteeFeeRate_1" xlink:title="Label : GuaranteeFeeRate to label_GuaranteeFeeRate_1" />
    <link:label xlink:type="resource" xlink:label="label_GuaranteeFeeRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GuaranteeFeeRate_2" xml:lang="en-US" id="label_GuaranteeFeeRate_2">Guarantee fee rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GuaranteeFeeRate" xlink:to="label_GuaranteeFeeRate_2" xlink:title="Label : GuaranteeFeeRate to label_GuaranteeFeeRate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BalanceOfBankGuaranteesContracted" xlink:label="BalanceOfBankGuaranteesContracted" xlink:title="BalanceOfBankGuaranteesContracted" />
    <link:label xlink:type="resource" xlink:label="label_BalanceOfBankGuaranteesContracted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BalanceOfBankGuaranteesContracted" xml:lang="en-US" id="label_BalanceOfBankGuaranteesContracted">Balance of bank guarantees contracted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BalanceOfBankGuaranteesContracted" xlink:to="label_BalanceOfBankGuaranteesContracted" xlink:title="Label : BalanceOfBankGuaranteesContracted to label_BalanceOfBankGuaranteesContracted" />
    <link:label xlink:type="resource" xlink:label="label_BalanceOfBankGuaranteesContracted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BalanceOfBankGuaranteesContracted_1" xml:lang="en-US" id="label_BalanceOfBankGuaranteesContracted_1">Balance of bank guarantees contracted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BalanceOfBankGuaranteesContracted" xlink:to="label_BalanceOfBankGuaranteesContracted_1" xlink:title="Label : BalanceOfBankGuaranteesContracted to label_BalanceOfBankGuaranteesContracted_1" />
    <link:label xlink:type="resource" xlink:label="label_BalanceOfBankGuaranteesContracted_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BalanceOfBankGuaranteesContracted_2" xml:lang="en-US" id="label_BalanceOfBankGuaranteesContracted_2">Balance of bank guarantees contracted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BalanceOfBankGuaranteesContracted" xlink:to="label_BalanceOfBankGuaranteesContracted_2" xlink:title="Label : BalanceOfBankGuaranteesContracted to label_BalanceOfBankGuaranteesContracted_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:label="LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:title="LineOfCreditFacilityRemainingBorrowingCapacity1" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LineOfCreditFacilityRemainingBorrowingCapacity1" xml:lang="en-US" id="label_LineOfCreditFacilityRemainingBorrowingCapacity1">Line Of Credit Facility Remaining Borrowing Capacity 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:to="label_LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:title="Label : LineOfCreditFacilityRemainingBorrowingCapacity1 to label_LineOfCreditFacilityRemainingBorrowingCapacity1" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityRemainingBorrowingCapacity1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LineOfCreditFacilityRemainingBorrowingCapacity1_1" xml:lang="en-US" id="label_LineOfCreditFacilityRemainingBorrowingCapacity1_1">Unused line of credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:to="label_LineOfCreditFacilityRemainingBorrowingCapacity1_1" xlink:title="Label : LineOfCreditFacilityRemainingBorrowingCapacity1 to label_LineOfCreditFacilityRemainingBorrowingCapacity1_1" />
    <link:label xlink:type="resource" xlink:label="label_LineOfCreditFacilityRemainingBorrowingCapacity1_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LineOfCreditFacilityRemainingBorrowingCapacity1_2" xml:lang="en-US" id="label_LineOfCreditFacilityRemainingBorrowingCapacity1_2">Line of credit facility remaining borrowing capacity 1.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityRemainingBorrowingCapacity1" xlink:to="label_LineOfCreditFacilityRemainingBorrowingCapacity1_2" xlink:title="Label : LineOfCreditFacilityRemainingBorrowingCapacity1 to label_LineOfCreditFacilityRemainingBorrowingCapacity1_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_HedgedRiskPositonPercentage" xlink:label="HedgedRiskPositonPercentage" xlink:title="HedgedRiskPositonPercentage" />
    <link:label xlink:type="resource" xlink:label="label_HedgedRiskPositonPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgedRiskPositonPercentage" xml:lang="en-US" id="label_HedgedRiskPositonPercentage">Hedged Risk Positon Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgedRiskPositonPercentage" xlink:to="label_HedgedRiskPositonPercentage" xlink:title="Label : HedgedRiskPositonPercentage to label_HedgedRiskPositonPercentage" />
    <link:label xlink:type="resource" xlink:label="label_HedgedRiskPositonPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HedgedRiskPositonPercentage_1" xml:lang="en-US" id="label_HedgedRiskPositonPercentage_1">Hedged risk position percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgedRiskPositonPercentage" xlink:to="label_HedgedRiskPositonPercentage_1" xlink:title="Label : HedgedRiskPositonPercentage to label_HedgedRiskPositonPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_HedgedRiskPositonPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_HedgedRiskPositonPercentage_2" xml:lang="en-US" id="label_HedgedRiskPositonPercentage_2">Hedged risk positon percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgedRiskPositonPercentage" xlink:to="label_HedgedRiskPositonPercentage_2" xlink:title="Label : HedgedRiskPositonPercentage to label_HedgedRiskPositonPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:label="WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:title="WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xml:lang="en-US" id="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16">Lessee&#x2019;s incremental borrowing rate applied to the lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:to="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:title="Label : WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16 to label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_1" xml:lang="en-US" id="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_1">Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:to="label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_1" xlink:title="Label : WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16 to label_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnsecuredLiability" xlink:label="UnsecuredLiability" xlink:title="UnsecuredLiability" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnsecuredLiability" xml:lang="en-US" id="label_UnsecuredLiability">Unsecured liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredLiability" xlink:to="label_UnsecuredLiability" xlink:title="Label : UnsecuredLiability to label_UnsecuredLiability" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredLiability_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnsecuredLiability_1" xml:lang="en-US" id="label_UnsecuredLiability_1">The amount of unsecured liability.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredLiability" xlink:to="label_UnsecuredLiability_1" xlink:title="Label : UnsecuredLiability to label_UnsecuredLiability_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MarketableSecuritiesTable" xlink:label="MarketableSecuritiesTable" xlink:title="MarketableSecuritiesTable" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketableSecuritiesTable" xml:lang="en-US" id="label_MarketableSecuritiesTable">Marketable Securities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesTable" xlink:to="label_MarketableSecuritiesTable" xlink:title="Label : MarketableSecuritiesTable to label_MarketableSecuritiesTable" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketableSecuritiesTable_1" xml:lang="en-US" id="label_MarketableSecuritiesTable_1">Marketable Securities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesTable" xlink:to="label_MarketableSecuritiesTable_1" xlink:title="Label : MarketableSecuritiesTable to label_MarketableSecuritiesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_MarketableSecuritiesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketableSecuritiesTable_2" xml:lang="en-US" id="label_MarketableSecuritiesTable_2">Details on marketable Securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketableSecuritiesTable" xlink:to="label_MarketableSecuritiesTable_2" xlink:title="Label : MarketableSecuritiesTable to label_MarketableSecuritiesTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GovernmentSecuritiesMember" xlink:label="GovernmentSecuritiesMember" xlink:title="GovernmentSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_GovernmentSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GovernmentSecuritiesMember" xml:lang="en-US" id="label_GovernmentSecuritiesMember">Government Securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentSecuritiesMember" xlink:to="label_GovernmentSecuritiesMember" xlink:title="Label : GovernmentSecuritiesMember to label_GovernmentSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_GovernmentSecuritiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GovernmentSecuritiesMember_1" xml:lang="en-US" id="label_GovernmentSecuritiesMember_1">Government security [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentSecuritiesMember" xlink:to="label_GovernmentSecuritiesMember_1" xlink:title="Label : GovernmentSecuritiesMember to label_GovernmentSecuritiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GovernmentSecuritiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GovernmentSecuritiesMember_2" xml:lang="en-US" id="label_GovernmentSecuritiesMember_2">Government securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentSecuritiesMember" xlink:to="label_GovernmentSecuritiesMember_2" xlink:title="Label : GovernmentSecuritiesMember to label_GovernmentSecuritiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RepurchaseAgreementsMember" xlink:label="RepurchaseAgreementsMember" xlink:title="RepurchaseAgreementsMember" />
    <link:label xlink:type="resource" xlink:label="label_RepurchaseAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepurchaseAgreementsMember" xml:lang="en-US" id="label_RepurchaseAgreementsMember">Repurchase agreements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepurchaseAgreementsMember" xlink:to="label_RepurchaseAgreementsMember" xlink:title="Label : RepurchaseAgreementsMember to label_RepurchaseAgreementsMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfMarketableSecuritiesLineItems" xlink:label="DisclosureOfMarketableSecuritiesLineItems" xlink:title="DisclosureOfMarketableSecuritiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMarketableSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMarketableSecuritiesLineItems" xml:lang="en-US" id="label_DisclosureOfMarketableSecuritiesLineItems">Disclosure of Marketable Securities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMarketableSecuritiesLineItems" xlink:to="label_DisclosureOfMarketableSecuritiesLineItems" xlink:title="Label : DisclosureOfMarketableSecuritiesLineItems to label_DisclosureOfMarketableSecuritiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMarketableSecuritiesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfMarketableSecuritiesLineItems_1" xml:lang="en-US" id="label_DisclosureOfMarketableSecuritiesLineItems_1">Disclosure of Marketable Securities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMarketableSecuritiesLineItems" xlink:to="label_DisclosureOfMarketableSecuritiesLineItems_1" xlink:title="Label : DisclosureOfMarketableSecuritiesLineItems to label_DisclosureOfMarketableSecuritiesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMarketableSecuritiesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfMarketableSecuritiesLineItems_2" xml:lang="en-US" id="label_DisclosureOfMarketableSecuritiesLineItems_2">Disclosure of Marketable Securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMarketableSecuritiesLineItems" xlink:to="label_DisclosureOfMarketableSecuritiesLineItems_2" xlink:title="Label : DisclosureOfMarketableSecuritiesLineItems to label_DisclosureOfMarketableSecuritiesLineItems_2" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredLiability_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnsecuredLiability_2" xml:lang="en-US" id="label_UnsecuredLiability_2">Unsecured liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredLiability" xlink:to="label_UnsecuredLiability_2" xlink:title="Label : UnsecuredLiability to label_UnsecuredLiability_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Provisions" xlink:label="Provisions" xlink:title="Provisions" />
    <link:label xlink:type="resource" xlink:label="label_Provisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Provisions" xml:lang="en-US" id="label_Provisions">Provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Provisions" xlink:to="label_Provisions" xlink:title="Label : Provisions to label_Provisions" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:label="DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:title="DisclosureOfRestrictedCashAndCashEquivalentsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfRestrictedCashAndCashEquivalentsTable" xml:lang="en-US" id="label_DisclosureOfRestrictedCashAndCashEquivalentsTable">Disclosure of Restricted Cash and Cash Equivalents [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:to="label_DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:title="Label : DisclosureOfRestrictedCashAndCashEquivalentsTable to label_DisclosureOfRestrictedCashAndCashEquivalentsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_1" xml:lang="en-US" id="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_1">Disclosure of Restricted Cash and Cash Equivalents [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:to="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_1" xlink:title="Label : DisclosureOfRestrictedCashAndCashEquivalentsTable to label_DisclosureOfRestrictedCashAndCashEquivalentsTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_2" xml:lang="en-US" id="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_2">Disclosure of restricted cash and cash equivalents table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRestrictedCashAndCashEquivalentsTable" xlink:to="label_DisclosureOfRestrictedCashAndCashEquivalentsTable_2" xlink:title="Label : DisclosureOfRestrictedCashAndCashEquivalentsTable to label_DisclosureOfRestrictedCashAndCashEquivalentsTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SecuritiesPledgedAsCollateral1Member" xlink:label="SecuritiesPledgedAsCollateral1Member" xlink:title="SecuritiesPledgedAsCollateral1Member" />
    <link:label xlink:type="resource" xlink:label="label_SecuritiesPledgedAsCollateral1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecuritiesPledgedAsCollateral1Member" xml:lang="en-US" id="label_SecuritiesPledgedAsCollateral1Member">Securities pledged as collateral [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuritiesPledgedAsCollateral1Member" xlink:to="label_SecuritiesPledgedAsCollateral1Member" xlink:title="Label : SecuritiesPledgedAsCollateral1Member to label_SecuritiesPledgedAsCollateral1Member" />
    <link:label xlink:type="resource" xlink:label="label_SecuritiesPledgedAsCollateral1Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecuritiesPledgedAsCollateral1Member_1" xml:lang="en-US" id="label_SecuritiesPledgedAsCollateral1Member_1">Securities pledged as collateral [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuritiesPledgedAsCollateral1Member" xlink:to="label_SecuritiesPledgedAsCollateral1Member_1" xlink:title="Label : SecuritiesPledgedAsCollateral1Member to label_SecuritiesPledgedAsCollateral1Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SecuritiesPledgedAsCollateral1Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SecuritiesPledgedAsCollateral1Member_2" xml:lang="en-US" id="label_SecuritiesPledgedAsCollateral1Member_2">Securities pledged as collateral.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuritiesPledgedAsCollateral1Member" xlink:to="label_SecuritiesPledgedAsCollateral1Member_2" xlink:title="Label : SecuritiesPledgedAsCollateral1Member to label_SecuritiesPledgedAsCollateral1Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:label="DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:title="DisclosureOfRestrictedCashAndCashEquivalentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xml:lang="en-US" id="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems">Disclosure of Restricted Cash and Cash Equivalents [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:to="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:title="Label : DisclosureOfRestrictedCashAndCashEquivalentsLineItems to label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_1" xml:lang="en-US" id="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_1">Disclosure of Restricted Cash and Cash Equivalents [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:to="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_1" xlink:title="Label : DisclosureOfRestrictedCashAndCashEquivalentsLineItems to label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_2" xml:lang="en-US" id="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_2">Disclosure of restricted cash and cash equivalents line items.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfRestrictedCashAndCashEquivalentsLineItems" xlink:to="label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_2" xlink:title="Label : DisclosureOfRestrictedCashAndCashEquivalentsLineItems to label_DisclosureOfRestrictedCashAndCashEquivalentsLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RestrictedCashAndCashEquivalents" xlink:label="RestrictedCashAndCashEquivalents" xlink:title="RestrictedCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashAndCashEquivalents" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalents">Restricted cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents" xlink:title="Label : RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashAndCashEquivalents_1" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalents_1">Restricted cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalents" xlink:to="label_RestrictedCashAndCashEquivalents_1" xlink:title="Label : RestrictedCashAndCashEquivalents to label_RestrictedCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradeReceivablesAbstract" xlink:label="TradeReceivablesAbstract" xlink:title="TradeReceivablesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeReceivablesAbstract" xml:lang="en-US" id="label_TradeReceivablesAbstract">Trade Receivables [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesAbstract" xlink:to="label_TradeReceivablesAbstract" xlink:title="Label : TradeReceivablesAbstract to label_TradeReceivablesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradeReceivablesAbstract_1" xml:lang="en-US" id="label_TradeReceivablesAbstract_1">Trade receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesAbstract" xlink:to="label_TradeReceivablesAbstract_1" xlink:title="Label : TradeReceivablesAbstract to label_TradeReceivablesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfTradeReceivablesTable" xlink:label="DisclosureOfTradeReceivablesTable" xlink:title="DisclosureOfTradeReceivablesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeReceivablesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTradeReceivablesTable" xml:lang="en-US" id="label_DisclosureOfTradeReceivablesTable">Disclosure of Trade Receivables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeReceivablesTable" xlink:to="label_DisclosureOfTradeReceivablesTable" xlink:title="Label : DisclosureOfTradeReceivablesTable to label_DisclosureOfTradeReceivablesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeReceivablesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTradeReceivablesTable_1" xml:lang="en-US" id="label_DisclosureOfTradeReceivablesTable_1">Disclosure of Trade Receivables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeReceivablesTable" xlink:to="label_DisclosureOfTradeReceivablesTable_1" xlink:title="Label : DisclosureOfTradeReceivablesTable to label_DisclosureOfTradeReceivablesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeReceivablesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfTradeReceivablesTable_2" xml:lang="en-US" id="label_DisclosureOfTradeReceivablesTable_2">Disclosure of Trade Receivables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeReceivablesTable" xlink:to="label_DisclosureOfTradeReceivablesTable_2" xlink:title="Label : DisclosureOfTradeReceivablesTable to label_DisclosureOfTradeReceivablesTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DomesticBrazilianReaisMember" xlink:label="DomesticBrazilianReaisMember" xlink:title="DomesticBrazilianReaisMember" />
    <link:label xlink:type="resource" xlink:label="label_DomesticBrazilianReaisMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DomesticBrazilianReaisMember" xml:lang="en-US" id="label_DomesticBrazilianReaisMember">Domestic Brazilian Reais [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DomesticBrazilianReaisMember" xlink:to="label_DomesticBrazilianReaisMember" xlink:title="Label : DomesticBrazilianReaisMember to label_DomesticBrazilianReaisMember" />
    <link:label xlink:type="resource" xlink:label="label_DomesticBrazilianReaisMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DomesticBrazilianReaisMember_1" xml:lang="en-US" id="label_DomesticBrazilianReaisMember_1">Domestic - Brazilian Reais [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DomesticBrazilianReaisMember" xlink:to="label_DomesticBrazilianReaisMember_1" xlink:title="Label : DomesticBrazilianReaisMember to label_DomesticBrazilianReaisMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DomesticBrazilianReaisMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DomesticBrazilianReaisMember_2" xml:lang="en-US" id="label_DomesticBrazilianReaisMember_2">Domestic Brazilian Reais [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DomesticBrazilianReaisMember" xlink:to="label_DomesticBrazilianReaisMember_2" xlink:title="Label : DomesticBrazilianReaisMember to label_DomesticBrazilianReaisMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExportForeignCurrencyMember" xlink:label="ExportForeignCurrencyMember" xlink:title="ExportForeignCurrencyMember" />
    <link:label xlink:type="resource" xlink:label="label_ExportForeignCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExportForeignCurrencyMember" xml:lang="en-US" id="label_ExportForeignCurrencyMember">Export Foreign Currency [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportForeignCurrencyMember" xlink:to="label_ExportForeignCurrencyMember" xlink:title="Label : ExportForeignCurrencyMember to label_ExportForeignCurrencyMember" />
    <link:label xlink:type="resource" xlink:label="label_ExportForeignCurrencyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExportForeignCurrencyMember_1" xml:lang="en-US" id="label_ExportForeignCurrencyMember_1">Export - Foreign currency [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportForeignCurrencyMember" xlink:to="label_ExportForeignCurrencyMember_1" xlink:title="Label : ExportForeignCurrencyMember to label_ExportForeignCurrencyMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ExportForeignCurrencyMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExportForeignCurrencyMember_2" xml:lang="en-US" id="label_ExportForeignCurrencyMember_2">Export foreign currency [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportForeignCurrencyMember" xlink:to="label_ExportForeignCurrencyMember_2" xlink:title="Label : ExportForeignCurrencyMember to label_ExportForeignCurrencyMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReceivablesByBillingStatusTypeAxis" xlink:label="ReceivablesByBillingStatusTypeAxis" xlink:title="ReceivablesByBillingStatusTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesByBillingStatusTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesByBillingStatusTypeAxis" xml:lang="en-US" id="label_ReceivablesByBillingStatusTypeAxis">Receivables by Billing Status Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesByBillingStatusTypeAxis" xlink:to="label_ReceivablesByBillingStatusTypeAxis" xlink:title="Label : ReceivablesByBillingStatusTypeAxis to label_ReceivablesByBillingStatusTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesByBillingStatusTypeAxis_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReceivablesByBillingStatusTypeAxis_1" xml:lang="en-US" id="label_ReceivablesByBillingStatusTypeAxis_1">Information by billing status type of receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesByBillingStatusTypeAxis" xlink:to="label_ReceivablesByBillingStatusTypeAxis_1" xlink:title="Label : ReceivablesByBillingStatusTypeAxis to label_ReceivablesByBillingStatusTypeAxis_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReceivablesBillingStatus1Domain" xlink:label="ReceivablesBillingStatus1Domain" xlink:title="ReceivablesBillingStatus1Domain" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesBillingStatus1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesBillingStatus1Domain" xml:lang="en-US" id="label_ReceivablesBillingStatus1Domain">Receivables Billing Status [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesBillingStatus1Domain" xlink:to="label_ReceivablesBillingStatus1Domain" xlink:title="Label : ReceivablesBillingStatus1Domain to label_ReceivablesBillingStatus1Domain" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesBillingStatus1Domain_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReceivablesBillingStatus1Domain_1" xml:lang="en-US" id="label_ReceivablesBillingStatus1Domain_1">Type of billing status of receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesBillingStatus1Domain" xlink:to="label_ReceivablesBillingStatus1Domain_1" xlink:title="Label : ReceivablesBillingStatus1Domain to label_ReceivablesBillingStatus1Domain_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnbilledReceivablesMember" xlink:label="UnbilledReceivablesMember" xlink:title="UnbilledReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_UnbilledReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnbilledReceivablesMember" xml:lang="en-US" id="label_UnbilledReceivablesMember">Unbilled Receivables [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnbilledReceivablesMember" xlink:to="label_UnbilledReceivablesMember" xlink:title="Label : UnbilledReceivablesMember to label_UnbilledReceivablesMember" />
    <link:label xlink:type="resource" xlink:label="label_UnbilledReceivablesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnbilledReceivablesMember_1" xml:lang="en-US" id="label_UnbilledReceivablesMember_1">Unbilled receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnbilledReceivablesMember" xlink:to="label_UnbilledReceivablesMember_1" xlink:title="Label : UnbilledReceivablesMember to label_UnbilledReceivablesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_UnbilledReceivablesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnbilledReceivablesMember_2" xml:lang="en-US" id="label_UnbilledReceivablesMember_2">This member stands for information pertaining to unbilled receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnbilledReceivablesMember" xlink:to="label_UnbilledReceivablesMember_2" xlink:title="Label : UnbilledReceivablesMember to label_UnbilledReceivablesMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" />
    <link:label xlink:type="resource" xlink:label="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xml:lang="en-US" id="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:title="Label : CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis to label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" />
    <link:label xlink:type="resource" xlink:label="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_1" xml:lang="en-US" id="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_1">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_1" xlink:title="Label : CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis to label_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CarryingAmountMember" xlink:label="CarryingAmountMember" xlink:title="CarryingAmountMember" />
    <link:label xlink:type="resource" xlink:label="label_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CarryingAmountMember" xml:lang="en-US" id="label_CarryingAmountMember">Carrying amount [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountMember" xlink:to="label_CarryingAmountMember" xlink:title="Label : CarryingAmountMember to label_CarryingAmountMember" />
    <link:label xlink:type="resource" xlink:label="label_CarryingAmountMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CarryingAmountMember_1" xml:lang="en-US" id="label_CarryingAmountMember_1">Carrying amount [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CarryingAmountMember" xlink:to="label_CarryingAmountMember_1" xlink:title="Label : CarryingAmountMember to label_CarryingAmountMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="GrossCarryingAmountMember" xlink:title="GrossCarryingAmountMember" />
    <link:label xlink:type="resource" xlink:label="label_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossCarryingAmountMember" xml:lang="en-US" id="label_GrossCarryingAmountMember">Gross carrying amount [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossCarryingAmountMember" xlink:to="label_GrossCarryingAmountMember" xlink:title="Label : GrossCarryingAmountMember to label_GrossCarryingAmountMember" />
    <link:label xlink:type="resource" xlink:label="label_GrossCarryingAmountMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrossCarryingAmountMember_1" xml:lang="en-US" id="label_GrossCarryingAmountMember_1">Cost [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossCarryingAmountMember" xlink:to="label_GrossCarryingAmountMember_1" xlink:title="Label : GrossCarryingAmountMember to label_GrossCarryingAmountMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GrossCarryingAmountMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GrossCarryingAmountMember_2" xml:lang="en-US" id="label_GrossCarryingAmountMember_2">Gross carrying amount [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossCarryingAmountMember" xlink:to="label_GrossCarryingAmountMember_2" xlink:title="Label : GrossCarryingAmountMember to label_GrossCarryingAmountMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccumulatedImpairmentMember" xlink:label="AccumulatedImpairmentMember" xlink:title="AccumulatedImpairmentMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedImpairmentMember" xml:lang="en-US" id="label_AccumulatedImpairmentMember">Accumulated impairment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedImpairmentMember" xlink:to="label_AccumulatedImpairmentMember" xlink:title="Label : AccumulatedImpairmentMember to label_AccumulatedImpairmentMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedImpairmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedImpairmentMember_1" xml:lang="en-US" id="label_AccumulatedImpairmentMember_1">Expected credit losses [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedImpairmentMember" xlink:to="label_AccumulatedImpairmentMember_1" xlink:title="Label : AccumulatedImpairmentMember to label_AccumulatedImpairmentMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfTradeReceivablesLineItems" xlink:label="DisclosureOfTradeReceivablesLineItems" xlink:title="DisclosureOfTradeReceivablesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeReceivablesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTradeReceivablesLineItems" xml:lang="en-US" id="label_DisclosureOfTradeReceivablesLineItems">Disclosure of Trade receivables [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeReceivablesLineItems" xlink:to="label_DisclosureOfTradeReceivablesLineItems" xlink:title="Label : DisclosureOfTradeReceivablesLineItems to label_DisclosureOfTradeReceivablesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeReceivablesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTradeReceivablesLineItems_1" xml:lang="en-US" id="label_DisclosureOfTradeReceivablesLineItems_1">Disclosure of Trade Receivables [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeReceivablesLineItems" xlink:to="label_DisclosureOfTradeReceivablesLineItems_1" xlink:title="Label : DisclosureOfTradeReceivablesLineItems to label_DisclosureOfTradeReceivablesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeReceivablesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfTradeReceivablesLineItems_2" xml:lang="en-US" id="label_DisclosureOfTradeReceivablesLineItems_2">Disclosure of trade receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeReceivablesLineItems" xlink:to="label_DisclosureOfTradeReceivablesLineItems_2" xlink:title="Label : DisclosureOfTradeReceivablesLineItems to label_DisclosureOfTradeReceivablesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:label="ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:title="ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" />
    <link:label xlink:type="resource" xlink:label="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xml:lang="en-US" id="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables">Reversal of impairment loss recognised in profit or loss, trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:to="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:title="Label : ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables to label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" />
    <link:label xlink:type="resource" xlink:label="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_1" xml:lang="en-US" id="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_1">Reversal of expected loss as a consequence of COVID-19 pandemic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:to="label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_1" xlink:title="Label : ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables to label_ReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NotDueMember" xlink:label="NotDueMember" xlink:title="NotDueMember" />
    <link:label xlink:type="resource" xlink:label="label_NotDueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotDueMember" xml:lang="en-US" id="label_NotDueMember">Not Due [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotDueMember" xlink:to="label_NotDueMember" xlink:title="Label : NotDueMember to label_NotDueMember" />
    <link:label xlink:type="resource" xlink:label="label_NotDueMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotDueMember_1" xml:lang="en-US" id="label_NotDueMember_1">Not overdue [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotDueMember" xlink:to="label_NotDueMember_1" xlink:title="Label : NotDueMember to label_NotDueMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NotDueMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NotDueMember_2" xml:lang="en-US" id="label_NotDueMember_2">Not due.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotDueMember" xlink:to="label_NotDueMember_2" xlink:title="Label : NotDueMember to label_NotDueMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OverdueOneToThirtyDaysMember" xlink:label="OverdueOneToThirtyDaysMember" xlink:title="OverdueOneToThirtyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_OverdueOneToThirtyDaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OverdueOneToThirtyDaysMember" xml:lang="en-US" id="label_OverdueOneToThirtyDaysMember">Overdue One To Thirty Days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueOneToThirtyDaysMember" xlink:to="label_OverdueOneToThirtyDaysMember" xlink:title="Label : OverdueOneToThirtyDaysMember to label_OverdueOneToThirtyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_OverdueOneToThirtyDaysMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OverdueOneToThirtyDaysMember_1" xml:lang="en-US" id="label_OverdueOneToThirtyDaysMember_1">Overdue From 1 to 30 days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueOneToThirtyDaysMember" xlink:to="label_OverdueOneToThirtyDaysMember_1" xlink:title="Label : OverdueOneToThirtyDaysMember to label_OverdueOneToThirtyDaysMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OverdueOneToThirtyDaysMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OverdueOneToThirtyDaysMember_2" xml:lang="en-US" id="label_OverdueOneToThirtyDaysMember_2">Overdue one to thirty days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueOneToThirtyDaysMember" xlink:to="label_OverdueOneToThirtyDaysMember_2" xlink:title="Label : OverdueOneToThirtyDaysMember to label_OverdueOneToThirtyDaysMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OverdueThirtyOneToSixtyDaysMember" xlink:label="OverdueThirtyOneToSixtyDaysMember" xlink:title="OverdueThirtyOneToSixtyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_OverdueThirtyOneToSixtyDaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OverdueThirtyOneToSixtyDaysMember" xml:lang="en-US" id="label_OverdueThirtyOneToSixtyDaysMember">Overdue Thirty One To Sixty Days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueThirtyOneToSixtyDaysMember" xlink:to="label_OverdueThirtyOneToSixtyDaysMember" xlink:title="Label : OverdueThirtyOneToSixtyDaysMember to label_OverdueThirtyOneToSixtyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_OverdueThirtyOneToSixtyDaysMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OverdueThirtyOneToSixtyDaysMember_1" xml:lang="en-US" id="label_OverdueThirtyOneToSixtyDaysMember_1">Overdue From 31 to 60 days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueThirtyOneToSixtyDaysMember" xlink:to="label_OverdueThirtyOneToSixtyDaysMember_1" xlink:title="Label : OverdueThirtyOneToSixtyDaysMember to label_OverdueThirtyOneToSixtyDaysMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OverdueThirtyOneToSixtyDaysMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OverdueThirtyOneToSixtyDaysMember_2" xml:lang="en-US" id="label_OverdueThirtyOneToSixtyDaysMember_2">Overdue thirty one to sixty days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueThirtyOneToSixtyDaysMember" xlink:to="label_OverdueThirtyOneToSixtyDaysMember_2" xlink:title="Label : OverdueThirtyOneToSixtyDaysMember to label_OverdueThirtyOneToSixtyDaysMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OverdueSixtyOneToNinetyDaysMember" xlink:label="OverdueSixtyOneToNinetyDaysMember" xlink:title="OverdueSixtyOneToNinetyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_OverdueSixtyOneToNinetyDaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OverdueSixtyOneToNinetyDaysMember" xml:lang="en-US" id="label_OverdueSixtyOneToNinetyDaysMember">Overdue Sixty One To Ninety Days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueSixtyOneToNinetyDaysMember" xlink:to="label_OverdueSixtyOneToNinetyDaysMember" xlink:title="Label : OverdueSixtyOneToNinetyDaysMember to label_OverdueSixtyOneToNinetyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_OverdueSixtyOneToNinetyDaysMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OverdueSixtyOneToNinetyDaysMember_1" xml:lang="en-US" id="label_OverdueSixtyOneToNinetyDaysMember_1">Overdue From 61 to 90 days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueSixtyOneToNinetyDaysMember" xlink:to="label_OverdueSixtyOneToNinetyDaysMember_1" xlink:title="Label : OverdueSixtyOneToNinetyDaysMember to label_OverdueSixtyOneToNinetyDaysMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OverdueSixtyOneToNinetyDaysMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OverdueSixtyOneToNinetyDaysMember_2" xml:lang="en-US" id="label_OverdueSixtyOneToNinetyDaysMember_2">Overdue sixty one to ninety days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OverdueSixtyOneToNinetyDaysMember" xlink:to="label_OverdueSixtyOneToNinetyDaysMember_2" xlink:title="Label : OverdueSixtyOneToNinetyDaysMember to label_OverdueSixtyOneToNinetyDaysMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MoreThanNinetyDaysMember" xlink:label="MoreThanNinetyDaysMember" xlink:title="MoreThanNinetyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_MoreThanNinetyDaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MoreThanNinetyDaysMember" xml:lang="en-US" id="label_MoreThanNinetyDaysMember">More Than Ninety Days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MoreThanNinetyDaysMember" xlink:to="label_MoreThanNinetyDaysMember" xlink:title="Label : MoreThanNinetyDaysMember to label_MoreThanNinetyDaysMember" />
    <link:label xlink:type="resource" xlink:label="label_MoreThanNinetyDaysMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MoreThanNinetyDaysMember_1" xml:lang="en-US" id="label_MoreThanNinetyDaysMember_1">More than 90 days [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MoreThanNinetyDaysMember" xlink:to="label_MoreThanNinetyDaysMember_1" xlink:title="Label : MoreThanNinetyDaysMember to label_MoreThanNinetyDaysMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MoreThanNinetyDaysMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MoreThanNinetyDaysMember_2" xml:lang="en-US" id="label_MoreThanNinetyDaysMember_2">More than ninety days.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MoreThanNinetyDaysMember" xlink:to="label_MoreThanNinetyDaysMember_2" xlink:title="Label : MoreThanNinetyDaysMember to label_MoreThanNinetyDaysMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AllowanceForDoubtfulAccounts" xlink:label="AllowanceForDoubtfulAccounts" xlink:title="AllowanceForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllowanceForDoubtfulAccounts" xml:lang="en-US" id="label_AllowanceForDoubtfulAccounts">Allowance for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccounts" xlink:to="label_AllowanceForDoubtfulAccounts" xlink:title="Label : AllowanceForDoubtfulAccounts to label_AllowanceForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccounts_1" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:title="label_AllowanceForDoubtfulAccounts_1" xml:lang="en-US" id="label_AllowanceForDoubtfulAccounts_1">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccounts" xlink:to="label_AllowanceForDoubtfulAccounts_1" xlink:title="Label : AllowanceForDoubtfulAccounts to label_AllowanceForDoubtfulAccounts_1" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccounts_2" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:title="label_AllowanceForDoubtfulAccounts_2" xml:lang="en-US" id="label_AllowanceForDoubtfulAccounts_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccounts" xlink:to="label_AllowanceForDoubtfulAccounts_2" xlink:title="Label : AllowanceForDoubtfulAccounts to label_AllowanceForDoubtfulAccounts_2" />
    <link:label xlink:type="resource" xlink:label="label_AllowanceForDoubtfulAccounts_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AllowanceForDoubtfulAccounts_3" xml:lang="en-US" id="label_AllowanceForDoubtfulAccounts_3">The amount of allowance for doubtful accounts receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllowanceForDoubtfulAccounts" xlink:to="label_AllowanceForDoubtfulAccounts_3" xlink:title="Label : AllowanceForDoubtfulAccounts to label_AllowanceForDoubtfulAccounts_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:label="ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:title="ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xml:lang="en-US" id="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable">Provision Reversals Allowance for Doubtful Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:to="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:title="Label : ProvisionReversalsAllowanceForDoubtfulAccountsReceivable to label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_1" xml:lang="en-US" id="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_1">Provision / reversal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:to="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_1" xlink:title="Label : ProvisionReversalsAllowanceForDoubtfulAccountsReceivable to label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_1" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_2" xml:lang="en-US" id="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_2">The amount of provision expense (reversal of provision expense) for expected credit loss on accounts receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" xlink:to="label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_2" xlink:title="Label : ProvisionReversalsAllowanceForDoubtfulAccountsReceivable to label_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:label="WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:title="WriteOffAllowanceForDoubtfulAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WriteOffAllowanceForDoubtfulAccountsReceivable" xml:lang="en-US" id="label_WriteOffAllowanceForDoubtfulAccountsReceivable">Write-off Allowance for Doubtful Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:to="label_WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:title="Label : WriteOffAllowanceForDoubtfulAccountsReceivable to label_WriteOffAllowanceForDoubtfulAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_WriteOffAllowanceForDoubtfulAccountsReceivable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WriteOffAllowanceForDoubtfulAccountsReceivable_1" xml:lang="en-US" id="label_WriteOffAllowanceForDoubtfulAccountsReceivable_1">Write-off</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:to="label_WriteOffAllowanceForDoubtfulAccountsReceivable_1" xlink:title="Label : WriteOffAllowanceForDoubtfulAccountsReceivable to label_WriteOffAllowanceForDoubtfulAccountsReceivable_1" />
    <link:label xlink:type="resource" xlink:label="label_WriteOffAllowanceForDoubtfulAccountsReceivable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WriteOffAllowanceForDoubtfulAccountsReceivable_2" xml:lang="en-US" id="label_WriteOffAllowanceForDoubtfulAccountsReceivable_2">The amount of direct write-downs of accounts receivable charged against the allowance.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WriteOffAllowanceForDoubtfulAccountsReceivable" xlink:to="label_WriteOffAllowanceForDoubtfulAccountsReceivable_2" xlink:title="Label : WriteOffAllowanceForDoubtfulAccountsReceivable to label_WriteOffAllowanceForDoubtfulAccountsReceivable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:label="OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:title="OutstandingBalancesForRelatedPartyTransactionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OutstandingBalancesForRelatedPartyTransactionsAbstract" xml:lang="en-US" id="label_OutstandingBalancesForRelatedPartyTransactionsAbstract">Outstanding balances for related party transactions [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:to="label_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:title="Label : OutstandingBalancesForRelatedPartyTransactionsAbstract to label_OutstandingBalancesForRelatedPartyTransactionsAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfReceivablesAndPayablesTable" xlink:label="DisclosureOfReceivablesAndPayablesTable" xlink:title="DisclosureOfReceivablesAndPayablesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReceivablesAndPayablesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfReceivablesAndPayablesTable" xml:lang="en-US" id="label_DisclosureOfReceivablesAndPayablesTable">Disclosure of receivables and payables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfReceivablesAndPayablesTable" xlink:to="label_DisclosureOfReceivablesAndPayablesTable" xlink:title="Label : DisclosureOfReceivablesAndPayablesTable to label_DisclosureOfReceivablesAndPayablesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReceivablesAndPayablesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfReceivablesAndPayablesTable_1" xml:lang="en-US" id="label_DisclosureOfReceivablesAndPayablesTable_1">Disclosure of receivables and payables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfReceivablesAndPayablesTable" xlink:to="label_DisclosureOfReceivablesAndPayablesTable_1" xlink:title="Label : DisclosureOfReceivablesAndPayablesTable to label_DisclosureOfReceivablesAndPayablesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReceivablesAndPayablesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfReceivablesAndPayablesTable_2" xml:lang="en-US" id="label_DisclosureOfReceivablesAndPayablesTable_2">Disclosure of receivables and payables table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfReceivablesAndPayablesTable" xlink:to="label_DisclosureOfReceivablesAndPayablesTable_2" xlink:title="Label : DisclosureOfReceivablesAndPayablesTable to label_DisclosureOfReceivablesAndPayablesTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CorporateOperationAgreementsMember" xlink:label="CorporateOperationAgreementsMember" xlink:title="CorporateOperationAgreementsMember" />
    <link:label xlink:type="resource" xlink:label="label_CorporateOperationAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CorporateOperationAgreementsMember" xml:lang="en-US" id="label_CorporateOperationAgreementsMember">Corporate operation agreements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateOperationAgreementsMember" xlink:to="label_CorporateOperationAgreementsMember" xlink:title="Label : CorporateOperationAgreementsMember to label_CorporateOperationAgreementsMember" />
    <link:label xlink:type="resource" xlink:label="label_CorporateOperationAgreementsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CorporateOperationAgreementsMember_1" xml:lang="en-US" id="label_CorporateOperationAgreementsMember_1">Corporate operation agreements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateOperationAgreementsMember" xlink:to="label_CorporateOperationAgreementsMember_1" xlink:title="Label : CorporateOperationAgreementsMember to label_CorporateOperationAgreementsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CorporateOperationAgreementsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CorporateOperationAgreementsMember_2" xml:lang="en-US" id="label_CorporateOperationAgreementsMember_2">Corporate operation agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateOperationAgreementsMember" xlink:to="label_CorporateOperationAgreementsMember_2" xlink:title="Label : CorporateOperationAgreementsMember to label_CorporateOperationAgreementsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredSharesMember" xlink:label="PreferredSharesMember" xlink:title="PreferredSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredSharesMember" xml:lang="en-US" id="label_PreferredSharesMember">Preferred Shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesMember" xlink:to="label_PreferredSharesMember" xlink:title="Label : PreferredSharesMember to label_PreferredSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredSharesMember_1" xml:lang="en-US" id="label_PreferredSharesMember_1">Preferred shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesMember" xlink:to="label_PreferredSharesMember_1" xlink:title="Label : PreferredSharesMember to label_PreferredSharesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredSharesMember_2" xml:lang="en-US" id="label_PreferredSharesMember_2">Preferred shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesMember" xlink:to="label_PreferredSharesMember_2" xlink:title="Label : PreferredSharesMember to label_PreferredSharesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialOperationsMember" xlink:label="FinancialOperationsMember" xlink:title="FinancialOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialOperationsMember" xml:lang="en-US" id="label_FinancialOperationsMember">Financial operations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialOperationsMember" xlink:to="label_FinancialOperationsMember" xlink:title="Label : FinancialOperationsMember to label_FinancialOperationsMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialOperationsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialOperationsMember_1" xml:lang="en-US" id="label_FinancialOperationsMember_1">Financial operations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialOperationsMember" xlink:to="label_FinancialOperationsMember_1" xlink:title="Label : FinancialOperationsMember to label_FinancialOperationsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialOperationsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialOperationsMember_2" xml:lang="en-US" id="label_FinancialOperationsMember_2">Financial operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialOperationsMember" xlink:to="label_FinancialOperationsMember_2" xlink:title="Label : FinancialOperationsMember to label_FinancialOperationsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="CategoriesOfRelatedPartiesAxis" xlink:title="CategoriesOfRelatedPartiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfRelatedPartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CategoriesOfRelatedPartiesAxis" xml:lang="en-US" id="label_CategoriesOfRelatedPartiesAxis">Categories of related parties [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="label_CategoriesOfRelatedPartiesAxis" xlink:title="Label : CategoriesOfRelatedPartiesAxis to label_CategoriesOfRelatedPartiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfRelatedPartiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CategoriesOfRelatedPartiesAxis_1" xml:lang="en-US" id="label_CategoriesOfRelatedPartiesAxis_1">Categories of related parties [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfRelatedPartiesAxis" xlink:to="label_CategoriesOfRelatedPartiesAxis_1" xlink:title="Label : CategoriesOfRelatedPartiesAxis to label_CategoriesOfRelatedPartiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="EntitysTotalForRelatedPartiesMember" xlink:title="EntitysTotalForRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForRelatedPartiesMember" xml:lang="en-US" id="label_EntitysTotalForRelatedPartiesMember">Entity's total for related parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="label_EntitysTotalForRelatedPartiesMember" xlink:title="Label : EntitysTotalForRelatedPartiesMember to label_EntitysTotalForRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForRelatedPartiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntitysTotalForRelatedPartiesMember_1" xml:lang="en-US" id="label_EntitysTotalForRelatedPartiesMember_1">Entity's total for related parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForRelatedPartiesMember" xlink:to="label_EntitysTotalForRelatedPartiesMember_1" xlink:title="Label : EntitysTotalForRelatedPartiesMember to label_EntitysTotalForRelatedPartiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AguassantaParticipacoesSAMember" xlink:label="AguassantaParticipacoesSAMember" xlink:title="AguassantaParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_AguassantaParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AguassantaParticipacoesSAMember" xml:lang="en-US" id="label_AguassantaParticipacoesSAMember">Aguassanta Participacoes S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguassantaParticipacoesSAMember" xlink:to="label_AguassantaParticipacoesSAMember" xlink:title="Label : AguassantaParticipacoesSAMember to label_AguassantaParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_AguassantaParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AguassantaParticipacoesSAMember_1" xml:lang="en-US" id="label_AguassantaParticipacoesSAMember_1">Aguassanta Participacoes S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguassantaParticipacoesSAMember" xlink:to="label_AguassantaParticipacoesSAMember_1" xlink:title="Label : AguassantaParticipacoesSAMember to label_AguassantaParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AguassantaParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AguassantaParticipacoesSAMember_2" xml:lang="en-US" id="label_AguassantaParticipacoesSAMember_2">Aguassanta Participacoes S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguassantaParticipacoesSAMember" xlink:to="label_AguassantaParticipacoesSAMember_2" xlink:title="Label : AguassantaParticipacoesSAMember to label_AguassantaParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="OtherRelatedPartiesMember" xlink:title="OtherRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherRelatedPartiesMember" xml:lang="en-US" id="label_OtherRelatedPartiesMember">Other related parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRelatedPartiesMember" xlink:to="label_OtherRelatedPartiesMember" xlink:title="Label : OtherRelatedPartiesMember to label_OtherRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherRelatedPartiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherRelatedPartiesMember_1" xml:lang="en-US" id="label_OtherRelatedPartiesMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRelatedPartiesMember" xlink:to="label_OtherRelatedPartiesMember_1" xlink:title="Label : OtherRelatedPartiesMember to label_OtherRelatedPartiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_JanusBrasilParticipacoesSAMember" xlink:label="JanusBrasilParticipacoesSAMember" xlink:title="JanusBrasilParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_JanusBrasilParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JanusBrasilParticipacoesSAMember" xml:lang="en-US" id="label_JanusBrasilParticipacoesSAMember">Janus Brasil Participacoes S.A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanusBrasilParticipacoesSAMember" xlink:to="label_JanusBrasilParticipacoesSAMember" xlink:title="Label : JanusBrasilParticipacoesSAMember to label_JanusBrasilParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_JanusBrasilParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JanusBrasilParticipacoesSAMember_1" xml:lang="en-US" id="label_JanusBrasilParticipacoesSAMember_1">Janus Brasil Participacoes S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanusBrasilParticipacoesSAMember" xlink:to="label_JanusBrasilParticipacoesSAMember_1" xlink:title="Label : JanusBrasilParticipacoesSAMember to label_JanusBrasilParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_JanusBrasilParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_JanusBrasilParticipacoesSAMember_2" xml:lang="en-US" id="label_JanusBrasilParticipacoesSAMember_2">Janus Brasil Participaes S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanusBrasilParticipacoesSAMember" xlink:to="label_JanusBrasilParticipacoesSAMember_2" xlink:title="Label : JanusBrasilParticipacoesSAMember to label_JanusBrasilParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentAssetMember" xlink:label="CurrentAssetMember" xlink:title="CurrentAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentAssetMember" xml:lang="en-US" id="label_CurrentAssetMember">Current Asset [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetMember" xlink:to="label_CurrentAssetMember" xlink:title="Label : CurrentAssetMember to label_CurrentAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssetMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentAssetMember_1" xml:lang="en-US" id="label_CurrentAssetMember_1">Current Asset [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetMember" xlink:to="label_CurrentAssetMember_1" xlink:title="Label : CurrentAssetMember to label_CurrentAssetMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentAssetMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentAssetMember_2" xml:lang="en-US" id="label_CurrentAssetMember_2">Current asset [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentAssetMember" xlink:to="label_CurrentAssetMember_2" xlink:title="Label : CurrentAssetMember to label_CurrentAssetMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NoncurrentAssetMember" xlink:label="NoncurrentAssetMember" xlink:title="NoncurrentAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssetMember" xml:lang="en-US" id="label_NoncurrentAssetMember">NonCurrent Asset [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetMember" xlink:to="label_NoncurrentAssetMember" xlink:title="Label : NoncurrentAssetMember to label_NoncurrentAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentAssetMember_1" xml:lang="en-US" id="label_NoncurrentAssetMember_1">Non-current Asset [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetMember" xlink:to="label_NoncurrentAssetMember_1" xlink:title="Label : NoncurrentAssetMember to label_NoncurrentAssetMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NoncurrentAssetMember_2" xml:lang="en-US" id="label_NoncurrentAssetMember_2">Non-current asset [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetMember" xlink:to="label_NoncurrentAssetMember_2" xlink:title="Label : NoncurrentAssetMember to label_NoncurrentAssetMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfReceivablesAndPayablesLineItems" xlink:label="DisclosureOfReceivablesAndPayablesLineItems" xlink:title="DisclosureOfReceivablesAndPayablesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReceivablesAndPayablesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfReceivablesAndPayablesLineItems" xml:lang="en-US" id="label_DisclosureOfReceivablesAndPayablesLineItems">Disclosure of receivables and payables [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfReceivablesAndPayablesLineItems" xlink:to="label_DisclosureOfReceivablesAndPayablesLineItems" xlink:title="Label : DisclosureOfReceivablesAndPayablesLineItems to label_DisclosureOfReceivablesAndPayablesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReceivablesAndPayablesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfReceivablesAndPayablesLineItems_1" xml:lang="en-US" id="label_DisclosureOfReceivablesAndPayablesLineItems_1">Disclosure of receivables and payables [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfReceivablesAndPayablesLineItems" xlink:to="label_DisclosureOfReceivablesAndPayablesLineItems_1" xlink:title="Label : DisclosureOfReceivablesAndPayablesLineItems to label_DisclosureOfReceivablesAndPayablesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReceivablesAndPayablesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfReceivablesAndPayablesLineItems_2" xml:lang="en-US" id="label_DisclosureOfReceivablesAndPayablesLineItems_2">Disclosure of receivables and payables line items.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfReceivablesAndPayablesLineItems" xlink:to="label_DisclosureOfReceivablesAndPayablesLineItems_2" xlink:title="Label : DisclosureOfReceivablesAndPayablesLineItems to label_DisclosureOfReceivablesAndPayablesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:label="TradeAndOtherReceivablesDueFromRelatedParties" xlink:title="TradeAndOtherReceivablesDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherReceivablesDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherReceivablesDueFromRelatedParties" xml:lang="en-US" id="label_TradeAndOtherReceivablesDueFromRelatedParties">Receivables due from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherReceivablesDueFromRelatedParties" xlink:to="label_TradeAndOtherReceivablesDueFromRelatedParties" xlink:title="Label : TradeAndOtherReceivablesDueFromRelatedParties to label_TradeAndOtherReceivablesDueFromRelatedParties" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherReceivablesDueFromRelatedParties_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_TradeAndOtherReceivablesDueFromRelatedParties_1" xml:lang="en-US" id="label_TradeAndOtherReceivablesDueFromRelatedParties_1">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherReceivablesDueFromRelatedParties" xlink:to="label_TradeAndOtherReceivablesDueFromRelatedParties_1" xlink:title="Label : TradeAndOtherReceivablesDueFromRelatedParties to label_TradeAndOtherReceivablesDueFromRelatedParties_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AguassantaInvestimentosSAMember" xlink:label="AguassantaInvestimentosSAMember" xlink:title="AguassantaInvestimentosSAMember" />
    <link:label xlink:type="resource" xlink:label="label_AguassantaInvestimentosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AguassantaInvestimentosSAMember" xml:lang="en-US" id="label_AguassantaInvestimentosSAMember">Aguassanta Investimentos SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguassantaInvestimentosSAMember" xlink:to="label_AguassantaInvestimentosSAMember" xlink:title="Label : AguassantaInvestimentosSAMember to label_AguassantaInvestimentosSAMember" />
    <link:label xlink:type="resource" xlink:label="label_AguassantaInvestimentosSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AguassantaInvestimentosSAMember_1" xml:lang="en-US" id="label_AguassantaInvestimentosSAMember_1">Aguassanta Investimentos S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguassantaInvestimentosSAMember" xlink:to="label_AguassantaInvestimentosSAMember_1" xlink:title="Label : AguassantaInvestimentosSAMember to label_AguassantaInvestimentosSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AguassantaInvestimentosSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AguassantaInvestimentosSAMember_2" xml:lang="en-US" id="label_AguassantaInvestimentosSAMember_2">This member stands for information pertaining to Aguassanta Investimentos S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AguassantaInvestimentosSAMember" xlink:to="label_AguassantaInvestimentosSAMember_2" xlink:title="Label : AguassantaInvestimentosSAMember to label_AguassantaInvestimentosSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenInternationalUniversalCorporationMember" xlink:label="RaizenInternationalUniversalCorporationMember" xlink:title="RaizenInternationalUniversalCorporationMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenInternationalUniversalCorporationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenInternationalUniversalCorporationMember" xml:lang="en-US" id="label_RaizenInternationalUniversalCorporationMember">Raizen International Universal Corporation [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenInternationalUniversalCorporationMember" xlink:to="label_RaizenInternationalUniversalCorporationMember" xlink:title="Label : RaizenInternationalUniversalCorporationMember to label_RaizenInternationalUniversalCorporationMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenInternationalUniversalCorporationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenInternationalUniversalCorporationMember_1" xml:lang="en-US" id="label_RaizenInternationalUniversalCorporationMember_1">Raizen International Universal Corporation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenInternationalUniversalCorporationMember" xlink:to="label_RaizenInternationalUniversalCorporationMember_1" xlink:title="Label : RaizenInternationalUniversalCorporationMember to label_RaizenInternationalUniversalCorporationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenInternationalUniversalCorporationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenInternationalUniversalCorporationMember_2" xml:lang="en-US" id="label_RaizenInternationalUniversalCorporationMember_2">This member stands for information pertaining to Raizen International Universal Corporation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenInternationalUniversalCorporationMember" xlink:to="label_RaizenInternationalUniversalCorporationMember_2" xlink:title="Label : RaizenInternationalUniversalCorporationMember to label_RaizenInternationalUniversalCorporationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UsinaSantaLuizaMember" xlink:label="UsinaSantaLuizaMember" xlink:title="UsinaSantaLuizaMember" />
    <link:label xlink:type="resource" xlink:label="label_UsinaSantaLuizaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UsinaSantaLuizaMember" xml:lang="en-US" id="label_UsinaSantaLuizaMember">Usina Santa Luiza [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UsinaSantaLuizaMember" xlink:to="label_UsinaSantaLuizaMember" xlink:title="Label : UsinaSantaLuizaMember to label_UsinaSantaLuizaMember" />
    <link:label xlink:type="resource" xlink:label="label_UsinaSantaLuizaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UsinaSantaLuizaMember_1" xml:lang="en-US" id="label_UsinaSantaLuizaMember_1">Usina Santa Luiza [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UsinaSantaLuizaMember" xlink:to="label_UsinaSantaLuizaMember_1" xlink:title="Label : UsinaSantaLuizaMember to label_UsinaSantaLuizaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_UsinaSantaLuizaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UsinaSantaLuizaMember_2" xml:lang="en-US" id="label_UsinaSantaLuizaMember_2">Usina Santa Luiza.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UsinaSantaLuizaMember" xlink:to="label_UsinaSantaLuizaMember_2" xlink:title="Label : UsinaSantaLuizaMember to label_UsinaSantaLuizaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PurchaseOfGoodsMember" xlink:label="PurchaseOfGoodsMember" xlink:title="PurchaseOfGoodsMember" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseOfGoodsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseOfGoodsMember" xml:lang="en-US" id="label_PurchaseOfGoodsMember">Purchase Of Goods [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseOfGoodsMember" xlink:to="label_PurchaseOfGoodsMember" xlink:title="Label : PurchaseOfGoodsMember to label_PurchaseOfGoodsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AssetsAndLiabilitiesAxis" xlink:label="AssetsAndLiabilitiesAxis" xlink:title="AssetsAndLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAndLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAndLiabilitiesAxis" xml:lang="en-US" id="label_AssetsAndLiabilitiesAxis">Assets and liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesAxis" xlink:to="label_AssetsAndLiabilitiesAxis" xlink:title="Label : AssetsAndLiabilitiesAxis to label_AssetsAndLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAndLiabilitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsAndLiabilitiesAxis_1" xml:lang="en-US" id="label_AssetsAndLiabilitiesAxis_1">Assets and liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesAxis" xlink:to="label_AssetsAndLiabilitiesAxis_1" xlink:title="Label : AssetsAndLiabilitiesAxis to label_AssetsAndLiabilitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AssetsAndLiabilitiesMember" xlink:label="AssetsAndLiabilitiesMember" xlink:title="AssetsAndLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAndLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAndLiabilitiesMember" xml:lang="en-US" id="label_AssetsAndLiabilitiesMember">Assets and liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesMember" xlink:to="label_AssetsAndLiabilitiesMember" xlink:title="Label : AssetsAndLiabilitiesMember to label_AssetsAndLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAndLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsAndLiabilitiesMember_1" xml:lang="en-US" id="label_AssetsAndLiabilitiesMember_1">Assets and liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAndLiabilitiesMember" xlink:to="label_AssetsAndLiabilitiesMember_1" xlink:title="Label : AssetsAndLiabilitiesMember to label_AssetsAndLiabilitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialResultMember" xlink:label="FinancialResultMember" xlink:title="FinancialResultMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResultMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialResultMember" xml:lang="en-US" id="label_FinancialResultMember">Financial Result [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResultMember" xlink:to="label_FinancialResultMember" xlink:title="Label : FinancialResultMember to label_FinancialResultMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:label="RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:title="RevenueFromSaleOfGoodsRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromSaleOfGoodsRelatedPartyTransactions" xml:lang="en-US" id="label_RevenueFromSaleOfGoodsRelatedPartyTransactions">Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:to="label_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:title="Label : RevenueFromSaleOfGoodsRelatedPartyTransactions to label_RevenueFromSaleOfGoodsRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromSaleOfGoodsRelatedPartyTransactions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromSaleOfGoodsRelatedPartyTransactions_1" xml:lang="en-US" id="label_RevenueFromSaleOfGoodsRelatedPartyTransactions_1">Revenue from sale of goods, related party transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:to="label_RevenueFromSaleOfGoodsRelatedPartyTransactions_1" xlink:title="Label : RevenueFromSaleOfGoodsRelatedPartyTransactions to label_RevenueFromSaleOfGoodsRelatedPartyTransactions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:label="PurchasesOfGoodsRelatedPartyTransactions" xlink:title="PurchasesOfGoodsRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_PurchasesOfGoodsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PurchasesOfGoodsRelatedPartyTransactions" xml:lang="en-US" id="label_PurchasesOfGoodsRelatedPartyTransactions">Purchase of goods / inputs / services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchasesOfGoodsRelatedPartyTransactions" xlink:to="label_PurchasesOfGoodsRelatedPartyTransactions" xlink:title="Label : PurchasesOfGoodsRelatedPartyTransactions to label_PurchasesOfGoodsRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_PurchasesOfGoodsRelatedPartyTransactions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchasesOfGoodsRelatedPartyTransactions_1" xml:lang="en-US" id="label_PurchasesOfGoodsRelatedPartyTransactions_1">Purchases of goods, related party transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchasesOfGoodsRelatedPartyTransactions" xlink:to="label_PurchasesOfGoodsRelatedPartyTransactions_1" xlink:title="Label : PurchasesOfGoodsRelatedPartyTransactions to label_PurchasesOfGoodsRelatedPartyTransactions_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncomeExpenseFromRelatedPartyTransactions" xlink:label="IncomeExpenseFromRelatedPartyTransactions" xlink:title="IncomeExpenseFromRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_IncomeExpenseFromRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeExpenseFromRelatedPartyTransactions" xml:lang="en-US" id="label_IncomeExpenseFromRelatedPartyTransactions">Income expense from related party transactions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeExpenseFromRelatedPartyTransactions" xlink:to="label_IncomeExpenseFromRelatedPartyTransactions" xlink:title="Label : IncomeExpenseFromRelatedPartyTransactions to label_IncomeExpenseFromRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_IncomeExpenseFromRelatedPartyTransactions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeExpenseFromRelatedPartyTransactions_1" xml:lang="en-US" id="label_IncomeExpenseFromRelatedPartyTransactions_1">Shared expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeExpenseFromRelatedPartyTransactions" xlink:to="label_IncomeExpenseFromRelatedPartyTransactions_1" xlink:title="Label : IncomeExpenseFromRelatedPartyTransactions to label_IncomeExpenseFromRelatedPartyTransactions_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeExpenseFromRelatedPartyTransactions_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeExpenseFromRelatedPartyTransactions_2" xml:lang="en-US" id="label_IncomeExpenseFromRelatedPartyTransactions_2">Income Expense from related party transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeExpenseFromRelatedPartyTransactions" xlink:to="label_IncomeExpenseFromRelatedPartyTransactions_2" xlink:title="Label : IncomeExpenseFromRelatedPartyTransactions to label_IncomeExpenseFromRelatedPartyTransactions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceIncomeCostRelatedPartyTransactions" xlink:label="FinanceIncomeCostRelatedPartyTransactions" xlink:title="FinanceIncomeCostRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCostRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceIncomeCostRelatedPartyTransactions" xml:lang="en-US" id="label_FinanceIncomeCostRelatedPartyTransactions">Finance Income Cost Related Party Transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCostRelatedPartyTransactions" xlink:to="label_FinanceIncomeCostRelatedPartyTransactions" xlink:title="Label : FinanceIncomeCostRelatedPartyTransactions to label_FinanceIncomeCostRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCostRelatedPartyTransactions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinanceIncomeCostRelatedPartyTransactions_1" xml:lang="en-US" id="label_FinanceIncomeCostRelatedPartyTransactions_1">Finance result</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCostRelatedPartyTransactions" xlink:to="label_FinanceIncomeCostRelatedPartyTransactions_1" xlink:title="Label : FinanceIncomeCostRelatedPartyTransactions to label_FinanceIncomeCostRelatedPartyTransactions_1" />
    <link:label xlink:type="resource" xlink:label="label_FinanceIncomeCostRelatedPartyTransactions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinanceIncomeCostRelatedPartyTransactions_2" xml:lang="en-US" id="label_FinanceIncomeCostRelatedPartyTransactions_2">Finance income (cost) related party transactions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceIncomeCostRelatedPartyTransactions" xlink:to="label_FinanceIncomeCostRelatedPartyTransactions_2" xlink:title="Label : FinanceIncomeCostRelatedPartyTransactions to label_FinanceIncomeCostRelatedPartyTransactions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OperatingRevenueFromRelatedPartyTransactions" xlink:label="OperatingRevenueFromRelatedPartyTransactions" xlink:title="OperatingRevenueFromRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_OperatingRevenueFromRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingRevenueFromRelatedPartyTransactions" xml:lang="en-US" id="label_OperatingRevenueFromRelatedPartyTransactions">Operating revenue from related party transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingRevenueFromRelatedPartyTransactions" xlink:to="label_OperatingRevenueFromRelatedPartyTransactions" xlink:title="Label : OperatingRevenueFromRelatedPartyTransactions to label_OperatingRevenueFromRelatedPartyTransactions" />
    <link:label xlink:type="resource" xlink:label="label_OperatingRevenueFromRelatedPartyTransactions_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OperatingRevenueFromRelatedPartyTransactions_1" xml:lang="en-US" id="label_OperatingRevenueFromRelatedPartyTransactions_1">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingRevenueFromRelatedPartyTransactions" xlink:to="label_OperatingRevenueFromRelatedPartyTransactions_1" xlink:title="Label : OperatingRevenueFromRelatedPartyTransactions to label_OperatingRevenueFromRelatedPartyTransactions_1" />
    <link:label xlink:type="resource" xlink:label="label_OperatingRevenueFromRelatedPartyTransactions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingRevenueFromRelatedPartyTransactions_2" xml:lang="en-US" id="label_OperatingRevenueFromRelatedPartyTransactions_2">Operating revenue from related party transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingRevenueFromRelatedPartyTransactions" xlink:to="label_OperatingRevenueFromRelatedPartyTransactions_2" xlink:title="Label : OperatingRevenueFromRelatedPartyTransactions to label_OperatingRevenueFromRelatedPartyTransactions_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract">Disclosure of transactions between related parties [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:title="Label : DisclosureOfTransactionsBetweenRelatedPartiesAbstract to label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_1" xml:lang="en-US" id="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_1">Disclosure of transactions between related parties [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_1" xlink:title="Label : DisclosureOfTransactionsBetweenRelatedPartiesAbstract to label_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">Key management personnel compensation, short-term employee benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:title="Label : KeyManagementPersonnelCompensationShorttermEmployeeBenefits to label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_1" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_1">Short-term benefits to officers and directors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_1" xlink:title="Label : KeyManagementPersonnelCompensationShorttermEmployeeBenefits to label_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="KeyManagementPersonnelCompensationSharebasedPayment" xlink:title="KeyManagementPersonnelCompensationSharebasedPayment" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationSharebasedPayment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensationSharebasedPayment" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationSharebasedPayment">Key management personnel compensation, share-based payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="label_KeyManagementPersonnelCompensationSharebasedPayment" xlink:title="Label : KeyManagementPersonnelCompensationSharebasedPayment to label_KeyManagementPersonnelCompensationSharebasedPayment" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationSharebasedPayment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensationSharebasedPayment_1" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationSharebasedPayment_1">Share-based payment transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="label_KeyManagementPersonnelCompensationSharebasedPayment_1" xlink:title="Label : KeyManagementPersonnelCompensationSharebasedPayment to label_KeyManagementPersonnelCompensationSharebasedPayment_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:label="KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:title="KeyManagementPersonnelCompensationPostemploymentBenefits" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensationPostemploymentBenefits" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationPostemploymentBenefits">Key management personnel compensation, post-employment benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:to="label_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:title="Label : KeyManagementPersonnelCompensationPostemploymentBenefits to label_KeyManagementPersonnelCompensationPostemploymentBenefits" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationPostemploymentBenefits_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensationPostemploymentBenefits_1" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationPostemploymentBenefits_1">Post-employment benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:to="label_KeyManagementPersonnelCompensationPostemploymentBenefits_1" xlink:title="Label : KeyManagementPersonnelCompensationPostemploymentBenefits to label_KeyManagementPersonnelCompensationPostemploymentBenefits_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:label="KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:title="KeyManagementPersonnelCompensationOtherLongtermBenefits" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_KeyManagementPersonnelCompensationOtherLongtermBenefits" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationOtherLongtermBenefits">Other long-term benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:to="label_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:title="Label : KeyManagementPersonnelCompensationOtherLongtermBenefits to label_KeyManagementPersonnelCompensationOtherLongtermBenefits" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_1" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_1">Long-term benefits to officers and directors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:to="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_1" xlink:title="Label : KeyManagementPersonnelCompensationOtherLongtermBenefits to label_KeyManagementPersonnelCompensationOtherLongtermBenefits_1" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_2" xml:lang="en-US" id="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_2">Key management personnel compensation, other long-term employee benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:to="label_KeyManagementPersonnelCompensationOtherLongtermBenefits_2" xlink:title="Label : KeyManagementPersonnelCompensationOtherLongtermBenefits to label_KeyManagementPersonnelCompensationOtherLongtermBenefits_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="KeyManagementPersonnelCompensation" xlink:title="KeyManagementPersonnelCompensation" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_KeyManagementPersonnelCompensation" xml:lang="en-US" id="label_KeyManagementPersonnelCompensation">Key management personnel compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensation" xlink:to="label_KeyManagementPersonnelCompensation" xlink:title="Label : KeyManagementPersonnelCompensation to label_KeyManagementPersonnelCompensation" />
    <link:label xlink:type="resource" xlink:label="label_KeyManagementPersonnelCompensation_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_KeyManagementPersonnelCompensation_1" xml:lang="en-US" id="label_KeyManagementPersonnelCompensation_1">Officers' and directors' compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KeyManagementPersonnelCompensation" xlink:to="label_KeyManagementPersonnelCompensation_1" xlink:title="Label : KeyManagementPersonnelCompensation to label_KeyManagementPersonnelCompensation_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract">Disclosure of detailed information about borrowings [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" xlink:title="Label : DisclosureOfDetailedInformationAboutBorrowingsAbstract to label_DisclosureOfDetailedInformationAboutBorrowingsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities_1" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities_1">Business Combination (note 9.3)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsLeaseLiabilities" xlink:to="label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities_1" xlink:title="Label : AcquisitionsThroughBusinessCombinationsLeaseLiabilities to label_AcquisitionsThroughBusinessCombinationsLeaseLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsTable" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsTable">Disclosure of detailed information about borrowings [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:title="Label : DisclosureOfDetailedInformationAboutBorrowingsTable to label_DisclosureOfDetailedInformationAboutBorrowingsTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:label="TypesOfFinancialLiabilitiesAxis" xlink:title="TypesOfFinancialLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfFinancialLiabilitiesAxis" xml:lang="en-US" id="label_TypesOfFinancialLiabilitiesAxis">Types of financial liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfFinancialLiabilitiesAxis" xlink:to="label_TypesOfFinancialLiabilitiesAxis" xlink:title="Label : TypesOfFinancialLiabilitiesAxis to label_TypesOfFinancialLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfFinancialLiabilitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TypesOfFinancialLiabilitiesAxis_1" xml:lang="en-US" id="label_TypesOfFinancialLiabilitiesAxis_1">Types of financial liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfFinancialLiabilitiesAxis" xlink:to="label_TypesOfFinancialLiabilitiesAxis_1" xlink:title="Label : TypesOfFinancialLiabilitiesAxis to label_TypesOfFinancialLiabilitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilitiesTypeMember" xlink:label="FinancialLiabilitiesTypeMember" xlink:title="FinancialLiabilitiesTypeMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesTypeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesTypeMember" xml:lang="en-US" id="label_FinancialLiabilitiesTypeMember">Financial liabilities, type [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesTypeMember" xlink:to="label_FinancialLiabilitiesTypeMember" xlink:title="Label : FinancialLiabilitiesTypeMember to label_FinancialLiabilitiesTypeMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesTypeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialLiabilitiesTypeMember_1" xml:lang="en-US" id="label_FinancialLiabilitiesTypeMember_1">Financial liabilities, type [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesTypeMember" xlink:to="label_FinancialLiabilitiesTypeMember_1" xlink:title="Label : FinancialLiabilitiesTypeMember to label_FinancialLiabilitiesTypeMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SecuredBorrowingsMember" xlink:label="SecuredBorrowingsMember" xlink:title="SecuredBorrowingsMember" />
    <link:label xlink:type="resource" xlink:label="label_SecuredBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecuredBorrowingsMember" xml:lang="en-US" id="label_SecuredBorrowingsMember">Secured Borrowings [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuredBorrowingsMember" xlink:to="label_SecuredBorrowingsMember" xlink:title="Label : SecuredBorrowingsMember to label_SecuredBorrowingsMember" />
    <link:label xlink:type="resource" xlink:label="label_SecuredBorrowingsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecuredBorrowingsMember_1" xml:lang="en-US" id="label_SecuredBorrowingsMember_1">Secured</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuredBorrowingsMember" xlink:to="label_SecuredBorrowingsMember_1" xlink:title="Label : SecuredBorrowingsMember to label_SecuredBorrowingsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SecuredBorrowingsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SecuredBorrowingsMember_2" xml:lang="en-US" id="label_SecuredBorrowingsMember_2">This member stands for the information pertaining to debentures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecuredBorrowingsMember" xlink:to="label_SecuredBorrowingsMember_2" xlink:title="Label : SecuredBorrowingsMember to label_SecuredBorrowingsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnsecuredBorrowingsMember" xlink:label="UnsecuredBorrowingsMember" xlink:title="UnsecuredBorrowingsMember" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnsecuredBorrowingsMember" xml:lang="en-US" id="label_UnsecuredBorrowingsMember">Unsecured Borrowings [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredBorrowingsMember" xlink:to="label_UnsecuredBorrowingsMember" xlink:title="Label : UnsecuredBorrowingsMember to label_UnsecuredBorrowingsMember" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredBorrowingsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnsecuredBorrowingsMember_1" xml:lang="en-US" id="label_UnsecuredBorrowingsMember_1">Unsecured</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredBorrowingsMember" xlink:to="label_UnsecuredBorrowingsMember_1" xlink:title="Label : UnsecuredBorrowingsMember to label_UnsecuredBorrowingsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredBorrowingsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnsecuredBorrowingsMember_2" xml:lang="en-US" id="label_UnsecuredBorrowingsMember_2">This member stands for the information pertaining to debentures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredBorrowingsMember" xlink:to="label_UnsecuredBorrowingsMember_2" xlink:title="Label : UnsecuredBorrowingsMember to label_UnsecuredBorrowingsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:label="BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:title="BrazilianNationalEconomicandSocialDevelopmentBankMember" />
    <link:label xlink:type="resource" xlink:label="label_BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BrazilianNationalEconomicandSocialDevelopmentBankMember" xml:lang="en-US" id="label_BrazilianNationalEconomicandSocialDevelopmentBankMember">Brazilian National Economic and Social Development Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:to="label_BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:title="Label : BrazilianNationalEconomicandSocialDevelopmentBankMember to label_BrazilianNationalEconomicandSocialDevelopmentBankMember" />
    <link:label xlink:type="resource" xlink:label="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_1" xml:lang="en-US" id="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_1">BNDES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:to="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_1" xlink:title="Label : BrazilianNationalEconomicandSocialDevelopmentBankMember to label_BrazilianNationalEconomicandSocialDevelopmentBankMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_2" xml:lang="en-US" id="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_2">This member stands for the information pertaining to Brazilian National Economic and Social Development Bank ("BNDES").</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrazilianNationalEconomicandSocialDevelopmentBankMember" xlink:to="label_BrazilianNationalEconomicandSocialDevelopmentBankMember_2" xlink:title="Label : BrazilianNationalEconomicandSocialDevelopmentBankMember to label_BrazilianNationalEconomicandSocialDevelopmentBankMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExportCreditAgreementMember" xlink:label="ExportCreditAgreementMember" xlink:title="ExportCreditAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_ExportCreditAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExportCreditAgreementMember" xml:lang="en-US" id="label_ExportCreditAgreementMember">Export Credit Agreement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportCreditAgreementMember" xlink:to="label_ExportCreditAgreementMember" xlink:title="Label : ExportCreditAgreementMember to label_ExportCreditAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_ExportCreditAgreementMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExportCreditAgreementMember_1" xml:lang="en-US" id="label_ExportCreditAgreementMember_1">Export credit agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportCreditAgreementMember" xlink:to="label_ExportCreditAgreementMember_1" xlink:title="Label : ExportCreditAgreementMember to label_ExportCreditAgreementMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ExportCreditAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExportCreditAgreementMember_2" xml:lang="en-US" id="label_ExportCreditAgreementMember_2">This member stands for the information pertaining to Export credit agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportCreditAgreementMember" xlink:to="label_ExportCreditAgreementMember_2" xlink:title="Label : ExportCreditAgreementMember to label_ExportCreditAgreementMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EuropeanInvestmentBankMember" xlink:label="EuropeanInvestmentBankMember" xlink:title="EuropeanInvestmentBankMember" />
    <link:label xlink:type="resource" xlink:label="label_EuropeanInvestmentBankMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EuropeanInvestmentBankMember" xml:lang="en-US" id="label_EuropeanInvestmentBankMember">European Investment Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuropeanInvestmentBankMember" xlink:to="label_EuropeanInvestmentBankMember" xlink:title="Label : EuropeanInvestmentBankMember to label_EuropeanInvestmentBankMember" />
    <link:label xlink:type="resource" xlink:label="label_EuropeanInvestmentBankMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EuropeanInvestmentBankMember_1" xml:lang="en-US" id="label_EuropeanInvestmentBankMember_1">European investment bank</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuropeanInvestmentBankMember" xlink:to="label_EuropeanInvestmentBankMember_1" xlink:title="Label : EuropeanInvestmentBankMember to label_EuropeanInvestmentBankMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EuropeanInvestmentBankMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EuropeanInvestmentBankMember_2" xml:lang="en-US" id="label_EuropeanInvestmentBankMember_2">This member stands for the information pertaining to European investment bank ("EIB").</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuropeanInvestmentBankMember" xlink:to="label_EuropeanInvestmentBankMember_2" xlink:title="Label : EuropeanInvestmentBankMember to label_EuropeanInvestmentBankMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ForeignLoansMember" xlink:label="ForeignLoansMember" xlink:title="ForeignLoansMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForeignLoansMember" xml:lang="en-US" id="label_ForeignLoansMember">Foreign Loans [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignLoansMember" xlink:to="label_ForeignLoansMember" xlink:title="Label : ForeignLoansMember to label_ForeignLoansMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignLoansMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForeignLoansMember_1" xml:lang="en-US" id="label_ForeignLoansMember_1">Foreign loans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignLoansMember" xlink:to="label_ForeignLoansMember_1" xlink:title="Label : ForeignLoansMember to label_ForeignLoansMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ForeignLoansMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForeignLoansMember_2" xml:lang="en-US" id="label_ForeignLoansMember_2">Foreign Loans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignLoansMember" xlink:to="label_ForeignLoansMember_2" xlink:title="Label : ForeignLoansMember to label_ForeignLoansMember_2" />
    <link:label xlink:type="resource" xlink:label="label_ForeignLoansMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ForeignLoansMember_3" xml:lang="en-US" id="label_ForeignLoansMember_3">Foreign loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignLoansMember" xlink:to="label_ForeignLoansMember_3" xlink:title="Label : ForeignLoansMember to label_ForeignLoansMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExportCreditNoteMember" xlink:label="ExportCreditNoteMember" xlink:title="ExportCreditNoteMember" />
    <link:label xlink:type="resource" xlink:label="label_ExportCreditNoteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExportCreditNoteMember" xml:lang="en-US" id="label_ExportCreditNoteMember">Export Credit Note [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportCreditNoteMember" xlink:to="label_ExportCreditNoteMember" xlink:title="Label : ExportCreditNoteMember to label_ExportCreditNoteMember" />
    <link:label xlink:type="resource" xlink:label="label_ExportCreditNoteMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExportCreditNoteMember_1" xml:lang="en-US" id="label_ExportCreditNoteMember_1">Export Credit Note</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportCreditNoteMember" xlink:to="label_ExportCreditNoteMember_1" xlink:title="Label : ExportCreditNoteMember to label_ExportCreditNoteMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ExportCreditNoteMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExportCreditNoteMember_2" xml:lang="en-US" id="label_ExportCreditNoteMember_2">This member stands for the information pertaining to Export Credit Note.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExportCreditNoteMember" xlink:to="label_ExportCreditNoteMember_2" xlink:title="Label : ExportCreditNoteMember to label_ExportCreditNoteMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Resolution4131Member" xlink:label="Resolution4131Member" xlink:title="Resolution4131Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution4131Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Resolution4131Member" xml:lang="en-US" id="label_Resolution4131Member">This member stands for the information pertaining to Resolution 4131.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution4131Member" xlink:to="label_Resolution4131Member" xlink:title="Label : Resolution4131Member to label_Resolution4131Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution4131Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Resolution4131Member_1" xml:lang="en-US" id="label_Resolution4131Member_1">Resolution 4131</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution4131Member" xlink:to="label_Resolution4131Member_1" xlink:title="Label : Resolution4131Member to label_Resolution4131Member_1" />
    <link:label xlink:type="resource" xlink:label="label_Resolution4131Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Resolution4131Member_2" xml:lang="en-US" id="label_Resolution4131Member_2">Resolution 4131 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution4131Member" xlink:to="label_Resolution4131Member_2" xlink:title="Label : Resolution4131Member to label_Resolution4131Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BankingCreditCertificatesMember" xlink:label="BankingCreditCertificatesMember" xlink:title="BankingCreditCertificatesMember" />
    <link:label xlink:type="resource" xlink:label="label_BankingCreditCertificatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankingCreditCertificatesMember" xml:lang="en-US" id="label_BankingCreditCertificatesMember">Banking Credit Certificates [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankingCreditCertificatesMember" xlink:to="label_BankingCreditCertificatesMember" xlink:title="Label : BankingCreditCertificatesMember to label_BankingCreditCertificatesMember" />
    <link:label xlink:type="resource" xlink:label="label_BankingCreditCertificatesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankingCreditCertificatesMember_1" xml:lang="en-US" id="label_BankingCreditCertificatesMember_1">Banking credit certificates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankingCreditCertificatesMember" xlink:to="label_BankingCreditCertificatesMember_1" xlink:title="Label : BankingCreditCertificatesMember to label_BankingCreditCertificatesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BankingCreditCertificatesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankingCreditCertificatesMember_2" xml:lang="en-US" id="label_BankingCreditCertificatesMember_2">This member stands for the information pertaining to Banking credit certificates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankingCreditCertificatesMember" xlink:to="label_BankingCreditCertificatesMember_2" xlink:title="Label : BankingCreditCertificatesMember to label_BankingCreditCertificatesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PerpetualNotesMember" xlink:label="PerpetualNotesMember" xlink:title="PerpetualNotesMember" />
    <link:label xlink:type="resource" xlink:label="label_PerpetualNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PerpetualNotesMember" xml:lang="en-US" id="label_PerpetualNotesMember">Perpetual notes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerpetualNotesMember" xlink:to="label_PerpetualNotesMember" xlink:title="Label : PerpetualNotesMember to label_PerpetualNotesMember" />
    <link:label xlink:type="resource" xlink:label="label_PerpetualNotesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PerpetualNotesMember_1" xml:lang="en-US" id="label_PerpetualNotesMember_1">Perpetual notes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerpetualNotesMember" xlink:to="label_PerpetualNotesMember_1" xlink:title="Label : PerpetualNotesMember to label_PerpetualNotesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PerpetualNotesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PerpetualNotesMember_2" xml:lang="en-US" id="label_PerpetualNotesMember_2">Perpetual Notes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerpetualNotesMember" xlink:to="label_PerpetualNotesMember_2" xlink:title="Label : PerpetualNotesMember to label_PerpetualNotesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_PerpetualNotesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PerpetualNotesMember_3" xml:lang="en-US" id="label_PerpetualNotesMember_3">Perpetual notes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerpetualNotesMember" xlink:to="label_PerpetualNotesMember_3" xlink:title="Label : PerpetualNotesMember to label_PerpetualNotesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2023Member" xlink:label="SeniorNotesDue2023Member" xlink:title="SeniorNotesDue2023Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2023Member" xml:lang="en-US" id="label_SeniorNotesDue2023Member">Senior Notes Due 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2023Member" xlink:to="label_SeniorNotesDue2023Member" xlink:title="Label : SeniorNotesDue2023Member to label_SeniorNotesDue2023Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2023Member_1" xml:lang="en-US" id="label_SeniorNotesDue2023Member_1">Senior notes due 2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2023Member" xlink:to="label_SeniorNotesDue2023Member_1" xlink:title="Label : SeniorNotesDue2023Member to label_SeniorNotesDue2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2023Member_2" xml:lang="en-US" id="label_SeniorNotesDue2023Member_2">This member stands for the information pertaining to Senior notes due 2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2023Member" xlink:to="label_SeniorNotesDue2023Member_2" xlink:title="Label : SeniorNotesDue2023Member to label_SeniorNotesDue2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2024Member" xlink:label="SeniorNotesDue2024Member" xlink:title="SeniorNotesDue2024Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2024Member" xml:lang="en-US" id="label_SeniorNotesDue2024Member">Senior Notes Due 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2024Member" xlink:to="label_SeniorNotesDue2024Member" xlink:title="Label : SeniorNotesDue2024Member to label_SeniorNotesDue2024Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2024Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2024Member_1" xml:lang="en-US" id="label_SeniorNotesDue2024Member_1">Senior notes due 2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2024Member" xlink:to="label_SeniorNotesDue2024Member_1" xlink:title="Label : SeniorNotesDue2024Member to label_SeniorNotesDue2024Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2024Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2024Member_2" xml:lang="en-US" id="label_SeniorNotesDue2024Member_2">This member stands for the information pertaining to Senior notes due 2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2024Member" xlink:to="label_SeniorNotesDue2024Member_2" xlink:title="Label : SeniorNotesDue2024Member to label_SeniorNotesDue2024Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2025Member" xlink:label="SeniorNotesDue2025Member" xlink:title="SeniorNotesDue2025Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2025Member" xml:lang="en-US" id="label_SeniorNotesDue2025Member">Senior Notes Due 2025 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2025Member" xlink:to="label_SeniorNotesDue2025Member" xlink:title="Label : SeniorNotesDue2025Member to label_SeniorNotesDue2025Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2025Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2025Member_1" xml:lang="en-US" id="label_SeniorNotesDue2025Member_1">Senior notes due 2025</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2025Member" xlink:to="label_SeniorNotesDue2025Member_1" xlink:title="Label : SeniorNotesDue2025Member to label_SeniorNotesDue2025Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2025Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2025Member_2" xml:lang="en-US" id="label_SeniorNotesDue2025Member_2">This member stands for the information pertaining to Senior notes due 2025.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2025Member" xlink:to="label_SeniorNotesDue2025Member_2" xlink:title="Label : SeniorNotesDue2025Member to label_SeniorNotesDue2025Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2027Member" xlink:label="SeniorNotesDue2027Member" xlink:title="SeniorNotesDue2027Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2027Member" xml:lang="en-US" id="label_SeniorNotesDue2027Member">Senior Notes Due 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2027Member" xlink:to="label_SeniorNotesDue2027Member" xlink:title="Label : SeniorNotesDue2027Member to label_SeniorNotesDue2027Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2027Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2027Member_1" xml:lang="en-US" id="label_SeniorNotesDue2027Member_1">Senior notes due 2027</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2027Member" xlink:to="label_SeniorNotesDue2027Member_1" xlink:title="Label : SeniorNotesDue2027Member to label_SeniorNotesDue2027Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2027Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2027Member_2" xml:lang="en-US" id="label_SeniorNotesDue2027Member_2">This member stands for the information pertaining to Senior notes due 2027.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2027Member" xlink:to="label_SeniorNotesDue2027Member_2" xlink:title="Label : SeniorNotesDue2027Member to label_SeniorNotesDue2027Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2028Member" xlink:label="SeniorNotesDue2028Member" xlink:title="SeniorNotesDue2028Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2028Member" xml:lang="en-US" id="label_SeniorNotesDue2028Member">Senior Notes Due 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2028Member" xlink:to="label_SeniorNotesDue2028Member" xlink:title="Label : SeniorNotesDue2028Member to label_SeniorNotesDue2028Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2028Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2028Member_1" xml:lang="en-US" id="label_SeniorNotesDue2028Member_1">Senior notes due 2028</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2028Member" xlink:to="label_SeniorNotesDue2028Member_1" xlink:title="Label : SeniorNotesDue2028Member to label_SeniorNotesDue2028Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2028Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2028Member_2" xml:lang="en-US" id="label_SeniorNotesDue2028Member_2">This member stands for the information pertaining to Senior notes due 2028.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2028Member" xlink:to="label_SeniorNotesDue2028Member_2" xlink:title="Label : SeniorNotesDue2028Member to label_SeniorNotesDue2028Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDue2029Member" xlink:label="SeniorNotesDue2029Member" xlink:title="SeniorNotesDue2029Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDue2029Member" xml:lang="en-US" id="label_SeniorNotesDue2029Member">Senior Notes Due 2029[Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2029Member" xlink:to="label_SeniorNotesDue2029Member" xlink:title="Label : SeniorNotesDue2029Member to label_SeniorNotesDue2029Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2029Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDue2029Member_1" xml:lang="en-US" id="label_SeniorNotesDue2029Member_1">Senior notes due 2029</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2029Member" xlink:to="label_SeniorNotesDue2029Member_1" xlink:title="Label : SeniorNotesDue2029Member to label_SeniorNotesDue2029Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDue2029Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDue2029Member_2" xml:lang="en-US" id="label_SeniorNotesDue2029Member_2">This member stands for the information pertaining to Senior notes due 2029.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDue2029Member" xlink:to="label_SeniorNotesDue2029Member_2" xlink:title="Label : SeniorNotesDue2029Member to label_SeniorNotesDue2029Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PrepaymentMember" xlink:label="PrepaymentMember" xlink:title="PrepaymentMember" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PrepaymentMember" xml:lang="en-US" id="label_PrepaymentMember">Prepayment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember" xlink:title="Label : PrepaymentMember to label_PrepaymentMember" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrepaymentMember_1" xml:lang="en-US" id="label_PrepaymentMember_1">Prepayment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember_1" xlink:title="Label : PrepaymentMember to label_PrepaymentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PrepaymentMember_2" xml:lang="en-US" id="label_PrepaymentMember_2">Prepayment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember_2" xlink:title="Label : PrepaymentMember to label_PrepaymentMember_2" />
    <link:label xlink:type="resource" xlink:label="label_PrepaymentMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PrepaymentMember_3" xml:lang="en-US" id="label_PrepaymentMember_3">Prepayment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaymentMember" xlink:to="label_PrepaymentMember_3" xlink:title="Label : PrepaymentMember to label_PrepaymentMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BankOverdraftMember" xlink:label="BankOverdraftMember" xlink:title="BankOverdraftMember" />
    <link:label xlink:type="resource" xlink:label="label_BankOverdraftMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankOverdraftMember" xml:lang="en-US" id="label_BankOverdraftMember">Bank Overdraft [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankOverdraftMember" xlink:to="label_BankOverdraftMember" xlink:title="Label : BankOverdraftMember to label_BankOverdraftMember" />
    <link:label xlink:type="resource" xlink:label="label_BankOverdraftMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankOverdraftMember_1" xml:lang="en-US" id="label_BankOverdraftMember_1">Bank overdraft [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankOverdraftMember" xlink:to="label_BankOverdraftMember_1" xlink:title="Label : BankOverdraftMember to label_BankOverdraftMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BankOverdraftMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankOverdraftMember_2" xml:lang="en-US" id="label_BankOverdraftMember_2">Bank Overdraft [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankOverdraftMember" xlink:to="label_BankOverdraftMember_2" xlink:title="Label : BankOverdraftMember to label_BankOverdraftMember_2" />
    <link:label xlink:type="resource" xlink:label="label_BankOverdraftMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BankOverdraftMember_3" xml:lang="en-US" id="label_BankOverdraftMember_3">Bank overdrafts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankOverdraftMember" xlink:to="label_BankOverdraftMember_3" xlink:title="Label : BankOverdraftMember to label_BankOverdraftMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebenturesMember" xlink:label="DebenturesMember" xlink:title="DebenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesMember" xml:lang="en-US" id="label_DebenturesMember">This member stands for the information pertaining to debentures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesMember" xlink:to="label_DebenturesMember" xlink:title="Label : DebenturesMember to label_DebenturesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebenturesMember_1" xml:lang="en-US" id="label_DebenturesMember_1">Debentures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesMember" xlink:to="label_DebenturesMember_1" xlink:title="Label : DebenturesMember to label_DebenturesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebenturesMember_2" xml:lang="en-US" id="label_DebenturesMember_2">Debentures [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesMember" xlink:to="label_DebenturesMember_2" xlink:title="Label : DebenturesMember to label_DebenturesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DebenturesMember_3" xml:lang="en-US" id="label_DebenturesMember_3">Debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesMember" xlink:to="label_DebenturesMember_3" xlink:title="Label : DebenturesMember to label_DebenturesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WorkingCapitalMember" xlink:label="WorkingCapitalMember" xlink:title="WorkingCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_WorkingCapitalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WorkingCapitalMember" xml:lang="en-US" id="label_WorkingCapitalMember">Working capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WorkingCapitalMember" xlink:to="label_WorkingCapitalMember" xlink:title="Label : WorkingCapitalMember to label_WorkingCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_WorkingCapitalMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WorkingCapitalMember_1" xml:lang="en-US" id="label_WorkingCapitalMember_1">Working capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WorkingCapitalMember" xlink:to="label_WorkingCapitalMember_1" xlink:title="Label : WorkingCapitalMember to label_WorkingCapitalMember_1" />
    <link:label xlink:type="resource" xlink:label="label_WorkingCapitalMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WorkingCapitalMember_2" xml:lang="en-US" id="label_WorkingCapitalMember_2">Working capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WorkingCapitalMember" xlink:to="label_WorkingCapitalMember_2" xlink:title="Label : WorkingCapitalMember to label_WorkingCapitalMember_2" />
    <link:label xlink:type="resource" xlink:label="label_WorkingCapitalMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_WorkingCapitalMember_3" xml:lang="en-US" id="label_WorkingCapitalMember_3">Working capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WorkingCapitalMember" xlink:to="label_WorkingCapitalMember_3" xlink:title="Label : WorkingCapitalMember to label_WorkingCapitalMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PromissoryNotesMember" xlink:label="PromissoryNotesMember" xlink:title="PromissoryNotesMember" />
    <link:label xlink:type="resource" xlink:label="label_PromissoryNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PromissoryNotesMember" xml:lang="en-US" id="label_PromissoryNotesMember">Promissory Notes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PromissoryNotesMember" xlink:to="label_PromissoryNotesMember" xlink:title="Label : PromissoryNotesMember to label_PromissoryNotesMember" />
    <link:label xlink:type="resource" xlink:label="label_PromissoryNotesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PromissoryNotesMember_1" xml:lang="en-US" id="label_PromissoryNotesMember_1">This member stands for the information pertaining to promissory notes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PromissoryNotesMember" xlink:to="label_PromissoryNotesMember_1" xlink:title="Label : PromissoryNotesMember to label_PromissoryNotesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PromissoryNotesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PromissoryNotesMember_2" xml:lang="en-US" id="label_PromissoryNotesMember_2">Promissory Notes [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PromissoryNotesMember" xlink:to="label_PromissoryNotesMember_2" xlink:title="Label : PromissoryNotesMember to label_PromissoryNotesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_PromissoryNotesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PromissoryNotesMember_3" xml:lang="en-US" id="label_PromissoryNotesMember_3">Promissory Notes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PromissoryNotesMember" xlink:to="label_PromissoryNotesMember_3" xlink:title="Label : PromissoryNotesMember to label_PromissoryNotesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_URTJLPIndexMember" xlink:label="URTJLPIndexMember" xlink:title="URTJLPIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_URTJLPIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_URTJLPIndexMember" xml:lang="en-US" id="label_URTJLPIndexMember">This member stands for the information pertaining to index URTJLP.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="URTJLPIndexMember" xlink:to="label_URTJLPIndexMember" xlink:title="Label : URTJLPIndexMember to label_URTJLPIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_URTJLPIndexMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_URTJLPIndexMember_1" xml:lang="en-US" id="label_URTJLPIndexMember_1">URTJLP</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="URTJLPIndexMember" xlink:to="label_URTJLPIndexMember_1" xlink:title="Label : URTJLPIndexMember to label_URTJLPIndexMember_1" />
    <link:label xlink:type="resource" xlink:label="label_URTJLPIndexMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_URTJLPIndexMember_2" xml:lang="en-US" id="label_URTJLPIndexMember_2">Urtjlp Index [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="URTJLPIndexMember" xlink:to="label_URTJLPIndexMember_2" xlink:title="Label : URTJLPIndexMember to label_URTJLPIndexMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FixedInterestRateMember" xlink:label="FixedInterestRateMember" xlink:title="FixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_FixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FixedInterestRateMember" xml:lang="en-US" id="label_FixedInterestRateMember">Fixed interest rate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixedInterestRateMember" xlink:to="label_FixedInterestRateMember" xlink:title="Label : FixedInterestRateMember to label_FixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_FixedInterestRateMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FixedInterestRateMember_1" xml:lang="en-US" id="label_FixedInterestRateMember_1">Fixed interest rate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixedInterestRateMember" xlink:to="label_FixedInterestRateMember_1" xlink:title="Label : FixedInterestRateMember to label_FixedInterestRateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FixedInterestRateMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FixedInterestRateMember_2" xml:lang="en-US" id="label_FixedInterestRateMember_2">Fixed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixedInterestRateMember" xlink:to="label_FixedInterestRateMember_2" xlink:title="Label : FixedInterestRateMember to label_FixedInterestRateMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexMember" xlink:label="IPCAIndexMember" xlink:title="IPCAIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexMember" xml:lang="en-US" id="label_IPCAIndexMember">Ipca Index [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexMember" xlink:to="label_IPCAIndexMember" xlink:title="Label : IPCAIndexMember to label_IPCAIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexMember_1" xml:lang="en-US" id="label_IPCAIndexMember_1">IPCA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexMember" xlink:to="label_IPCAIndexMember_1" xlink:title="Label : IPCAIndexMember to label_IPCAIndexMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexMember_2" xml:lang="en-US" id="label_IPCAIndexMember_2">Ipca Index [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexMember" xlink:to="label_IPCAIndexMember_2" xlink:title="Label : IPCAIndexMember to label_IPCAIndexMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus3Point25PercentMember" xlink:label="IPCAIndexPlus3Point25PercentMember" xlink:title="IPCAIndexPlus3Point25PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point25PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus3Point25PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus3Point25PercentMember">IPCA Index Plus 3 Point 25 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point25PercentMember" xlink:to="label_IPCAIndexPlus3Point25PercentMember" xlink:title="Label : IPCAIndexPlus3Point25PercentMember to label_IPCAIndexPlus3Point25PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point25PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus3Point25PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus3Point25PercentMember_1">IPCA + 3.25%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point25PercentMember" xlink:to="label_IPCAIndexPlus3Point25PercentMember_1" xlink:title="Label : IPCAIndexPlus3Point25PercentMember to label_IPCAIndexPlus3Point25PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point25PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus3Point25PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus3Point25PercentMember_2">This member stands for the information pertaining to index IPCA + 3.25%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point25PercentMember" xlink:to="label_IPCAIndexPlus3Point25PercentMember_2" xlink:title="Label : IPCAIndexPlus3Point25PercentMember to label_IPCAIndexPlus3Point25PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point10PercentMember" xlink:label="IPCAIndexPlus4Point10PercentMember" xlink:title="IPCAIndexPlus4Point10PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point10PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point10PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point10PercentMember">IPCA Index Plus 4 Point 10 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point10PercentMember" xlink:to="label_IPCAIndexPlus4Point10PercentMember" xlink:title="Label : IPCAIndexPlus4Point10PercentMember to label_IPCAIndexPlus4Point10PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point10PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point10PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point10PercentMember_1">IPCA + 4.10%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point10PercentMember" xlink:to="label_IPCAIndexPlus4Point10PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point10PercentMember to label_IPCAIndexPlus4Point10PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point10PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point10PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point10PercentMember_2">This member stands for the information pertaining to index IPCA + 4.10%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point10PercentMember" xlink:to="label_IPCAIndexPlus4Point10PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point10PercentMember to label_IPCAIndexPlus4Point10PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EuriborIndexPlus0Point58PercentMember" xlink:label="EuriborIndexPlus0Point58PercentMember" xlink:title="EuriborIndexPlus0Point58PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_EuriborIndexPlus0Point58PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EuriborIndexPlus0Point58PercentMember" xml:lang="en-US" id="label_EuriborIndexPlus0Point58PercentMember">Euribor Index Plus 0 Point 58 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuriborIndexPlus0Point58PercentMember" xlink:to="label_EuriborIndexPlus0Point58PercentMember" xlink:title="Label : EuriborIndexPlus0Point58PercentMember to label_EuriborIndexPlus0Point58PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_EuriborIndexPlus0Point58PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EuriborIndexPlus0Point58PercentMember_1" xml:lang="en-US" id="label_EuriborIndexPlus0Point58PercentMember_1">Euribor + 0.58%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuriborIndexPlus0Point58PercentMember" xlink:to="label_EuriborIndexPlus0Point58PercentMember_1" xlink:title="Label : EuriborIndexPlus0Point58PercentMember to label_EuriborIndexPlus0Point58PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EuriborIndexPlus0Point58PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EuriborIndexPlus0Point58PercentMember_2" xml:lang="en-US" id="label_EuriborIndexPlus0Point58PercentMember_2">This member stands for the information pertaining to index Euribor + 0.58%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EuriborIndexPlus0Point58PercentMember" xlink:to="label_EuriborIndexPlus0Point58PercentMember_2" xlink:title="Label : EuriborIndexPlus0Point58PercentMember to label_EuriborIndexPlus0Point58PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:label="USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:title="USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xml:lang="en-US" id="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember">US Dollar Index Plus Libor 6 Month Plus 0 Point 54 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:to="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:title="Label : USDollarIndexPlusLibor6MonthPlus0Point54PercentMember to label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_1" xml:lang="en-US" id="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_1">U.S. Dollar + Libor 6-month + 0.54%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:to="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_1" xlink:title="Label : USDollarIndexPlusLibor6MonthPlus0Point54PercentMember to label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_2" xml:lang="en-US" id="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_2">This member stands for the information pertaining to index U.S. Dollar + Libor 6-month + 0.54%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlusLibor6MonthPlus0Point54PercentMember" xlink:to="label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_2" xlink:title="Label : USDollarIndexPlusLibor6MonthPlus0Point54PercentMember to label_USDollarIndexPlusLibor6MonthPlus0Point54PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:label="USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:title="USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xml:lang="en-US" id="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember">US Dollar Index Plus Libor 6 Month Plus 0 Point 61 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:to="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:title="Label : USDollarIndexPlusLibor6MonthPlus0Point61PercentMember to label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_1" xml:lang="en-US" id="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_1">U.S. Dollar + Libor 6-month + 0.61%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:to="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_1" xlink:title="Label : USDollarIndexPlusLibor6MonthPlus0Point61PercentMember to label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_2" xml:lang="en-US" id="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_2">This member stands for the information pertaining to index U.S. Dollar + Libor 6-month + 0.61%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlusLibor6MonthPlus0Point61PercentMember" xlink:to="label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_2" xlink:title="Label : USDollarIndexPlusLibor6MonthPlus0Point61PercentMember to label_USDollarIndexPlusLibor6MonthPlus0Point61PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:label="GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:title="GBPIndexPlusLibor6MonthPlus1Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xml:lang="en-US" id="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember">GBP Index Plus Libor 6 Month Plus 1 Point 50 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:to="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:title="Label : GBPIndexPlusLibor6MonthPlus1Point50PercentMember to label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_1" xml:lang="en-US" id="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_1">GBP + Libor 6-month + 1.50%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:to="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_1" xlink:title="Label : GBPIndexPlusLibor6MonthPlus1Point50PercentMember to label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_2" xml:lang="en-US" id="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_2">This member stands for the information pertaining to index GBP + Libor 6-month + 1.50%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexPlusLibor6MonthPlus1Point50PercentMember" xlink:to="label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_2" xlink:title="Label : GBPIndexPlusLibor6MonthPlus1Point50PercentMember to label_GBPIndexPlusLibor6MonthPlus1Point50PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GBPIndexFixedInterestRateMember" xlink:label="GBPIndexFixedInterestRateMember" xlink:title="GBPIndexFixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GBPIndexFixedInterestRateMember" xml:lang="en-US" id="label_GBPIndexFixedInterestRateMember">GBP Index Fixed Interest Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexFixedInterestRateMember" xlink:to="label_GBPIndexFixedInterestRateMember" xlink:title="Label : GBPIndexFixedInterestRateMember to label_GBPIndexFixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexFixedInterestRateMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GBPIndexFixedInterestRateMember_1" xml:lang="en-US" id="label_GBPIndexFixedInterestRateMember_1">GBP | Fixed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexFixedInterestRateMember" xlink:to="label_GBPIndexFixedInterestRateMember_1" xlink:title="Label : GBPIndexFixedInterestRateMember to label_GBPIndexFixedInterestRateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexFixedInterestRateMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GBPIndexFixedInterestRateMember_2" xml:lang="en-US" id="label_GBPIndexFixedInterestRateMember_2">This member stands for the information pertaining to index GBP | Fixed interst rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexFixedInterestRateMember" xlink:to="label_GBPIndexFixedInterestRateMember_2" xlink:title="Label : GBPIndexFixedInterestRateMember to label_GBPIndexFixedInterestRateMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:label="GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:title="GBPIndexPlusLibor6MonthPlus1Point10PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xml:lang="en-US" id="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember">GBP Index Plus Libor 6 Month Plus 1 Point 10 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:to="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:title="Label : GBPIndexPlusLibor6MonthPlus1Point10PercentMember to label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_1" xml:lang="en-US" id="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_1">GBP + Libor 6-month + 1.10%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:to="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_1" xlink:title="Label : GBPIndexPlusLibor6MonthPlus1Point10PercentMember to label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_2" xml:lang="en-US" id="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_2">This member stands for the information pertaining to index GBP + Libor 6-month + 1.10%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GBPIndexPlusLibor6MonthPlus1Point10PercentMember" xlink:to="label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_2" xlink:title="Label : GBPIndexPlusLibor6MonthPlus1Point10PercentMember to label_GBPIndexPlusLibor6MonthPlus1Point10PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EUROIndexFixedInterestRateMember" xlink:label="EUROIndexFixedInterestRateMember" xlink:title="EUROIndexFixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_EUROIndexFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EUROIndexFixedInterestRateMember" xml:lang="en-US" id="label_EUROIndexFixedInterestRateMember">EURO Index Fixed Interest Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EUROIndexFixedInterestRateMember" xlink:to="label_EUROIndexFixedInterestRateMember" xlink:title="Label : EUROIndexFixedInterestRateMember to label_EUROIndexFixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_EUROIndexFixedInterestRateMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EUROIndexFixedInterestRateMember_1" xml:lang="en-US" id="label_EUROIndexFixedInterestRateMember_1">EUR | Fixed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EUROIndexFixedInterestRateMember" xlink:to="label_EUROIndexFixedInterestRateMember_1" xlink:title="Label : EUROIndexFixedInterestRateMember to label_EUROIndexFixedInterestRateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EUROIndexFixedInterestRateMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EUROIndexFixedInterestRateMember_2" xml:lang="en-US" id="label_EUROIndexFixedInterestRateMember_2">This member stands for the information pertaining to index EURO | Fixed interst rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EUROIndexFixedInterestRateMember" xlink:to="label_EUROIndexFixedInterestRateMember_2" xlink:title="Label : EUROIndexFixedInterestRateMember to label_EUROIndexFixedInterestRateMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus1Point03PercentMember" xlink:label="CDIIndexPlus1Point03PercentMember" xlink:title="CDIIndexPlus1Point03PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point03PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus1Point03PercentMember" xml:lang="en-US" id="label_CDIIndexPlus1Point03PercentMember">CDI Index Plus 1 Point 03 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point03PercentMember" xlink:to="label_CDIIndexPlus1Point03PercentMember" xlink:title="Label : CDIIndexPlus1Point03PercentMember to label_CDIIndexPlus1Point03PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus1Point03PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus1Point03PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus1Point03PercentMember_1">CDI + 1.03%</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus1Point03PercentMember" xlink:to="label_CDIIndexPlus1Point03PercentMember_2" xlink:title="Label : CDIIndexPlus1Point03PercentMember to label_CDIIndexPlus1Point03PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus0Point80PercentMember" xlink:label="CDIIndexPlus0Point80PercentMember" xlink:title="CDIIndexPlus0Point80PercentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus0Point80PercentMember" xlink:to="label_CDIIndexPlus0Point80PercentMember" xlink:title="Label : CDIIndexPlus0Point80PercentMember to label_CDIIndexPlus0Point80PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus0Point80PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus0Point80PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus0Point80PercentMember_1">CDI + 0.80%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus0Point80PercentMember" xlink:to="label_CDIIndexPlus0Point80PercentMember_1" xlink:title="Label : CDIIndexPlus0Point80PercentMember to label_CDIIndexPlus0Point80PercentMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus0Point80PercentMember" xlink:to="label_CDIIndexPlus0Point80PercentMember_2" xlink:title="Label : CDIIndexPlus0Point80PercentMember to label_CDIIndexPlus0Point80PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus3Point05PercentMember" xlink:label="CDIIndexPlus3Point05PercentMember" xlink:title="CDIIndexPlus3Point05PercentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point05PercentMember" xlink:to="label_CDIIndexPlus3Point05PercentMember" xlink:title="Label : CDIIndexPlus3Point05PercentMember to label_CDIIndexPlus3Point05PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point05PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus3Point05PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus3Point05PercentMember_1">CDI + 3.05%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point05PercentMember" xlink:to="label_CDIIndexPlus3Point05PercentMember_1" xlink:title="Label : CDIIndexPlus3Point05PercentMember to label_CDIIndexPlus3Point05PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point05PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus3Point05PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus3Point05PercentMember_2">This member stands for the information pertaining to index CDI + 3.05%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point05PercentMember" xlink:to="label_CDIIndexPlus3Point05PercentMember_2" xlink:title="Label : CDIIndexPlus3Point05PercentMember to label_CDIIndexPlus3Point05PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus3Point15PercentMember" xlink:label="CDIIndexPlus3Point15PercentMember" xlink:title="CDIIndexPlus3Point15PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point15PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus3Point15PercentMember" xml:lang="en-US" id="label_CDIIndexPlus3Point15PercentMember">CDI Index Plus 3 Point 15 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point15PercentMember" xlink:to="label_CDIIndexPlus3Point15PercentMember" xlink:title="Label : CDIIndexPlus3Point15PercentMember to label_CDIIndexPlus3Point15PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point15PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus3Point15PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus3Point15PercentMember_1">CDI + 3.15%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point15PercentMember" xlink:to="label_CDIIndexPlus3Point15PercentMember_1" xlink:title="Label : CDIIndexPlus3Point15PercentMember to label_CDIIndexPlus3Point15PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point15PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus3Point15PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus3Point15PercentMember_2">This member stands for the information pertaining to index CDI + 3.15%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point15PercentMember" xlink:to="label_CDIIndexPlus3Point15PercentMember_2" xlink:title="Label : CDIIndexPlus3Point15PercentMember to label_CDIIndexPlus3Point15PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexMember" xlink:label="USDollarIndexMember" xlink:title="USDollarIndexMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexMember" xlink:to="label_USDollarIndexMember" xlink:title="Label : USDollarIndexMember to label_USDollarIndexMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexMember_1" xml:lang="en-US" id="label_USDollarIndexMember_1">U.S. Dollar</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexMember" xlink:to="label_USDollarIndexMember_1" xlink:title="Label : USDollarIndexMember to label_USDollarIndexMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexMember_2" xml:lang="en-US" id="label_USDollarIndexMember_2">This member stands for the information pertaining to index U.S. Dollar.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexMember" xlink:to="label_USDollarIndexMember_2" xlink:title="Label : USDollarIndexMember to label_USDollarIndexMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexFixedInterestRateMember" xlink:label="USDollarIndexFixedInterestRateMember" xlink:title="USDollarIndexFixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_USDollarIndexFixedInterestRateMember" xml:lang="en-US" id="label_USDollarIndexFixedInterestRateMember">US Dollar Index Fixed Interest Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexFixedInterestRateMember" xlink:to="label_USDollarIndexFixedInterestRateMember" xlink:title="Label : USDollarIndexFixedInterestRateMember to label_USDollarIndexFixedInterestRateMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexFixedInterestRateMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexFixedInterestRateMember_1" xml:lang="en-US" id="label_USDollarIndexFixedInterestRateMember_1">U.S. Dollar | Fixed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexFixedInterestRateMember" xlink:to="label_USDollarIndexFixedInterestRateMember_1" xlink:title="Label : USDollarIndexFixedInterestRateMember to label_USDollarIndexFixedInterestRateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexFixedInterestRateMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexFixedInterestRateMember_2" xml:lang="en-US" id="label_USDollarIndexFixedInterestRateMember_2">This member stands for the information pertaining to index U.S. Dollar | Fixed interst rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexFixedInterestRateMember" xlink:to="label_USDollarIndexFixedInterestRateMember_2" xlink:title="Label : USDollarIndexFixedInterestRateMember to label_USDollarIndexFixedInterestRateMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexPlus3Point67PercentMember" xlink:label="USDollarIndexPlus3Point67PercentMember" xlink:title="USDollarIndexPlus3Point67PercentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus3Point67PercentMember" xlink:to="label_USDollarIndexPlus3Point67PercentMember" xlink:title="Label : USDollarIndexPlus3Point67PercentMember to label_USDollarIndexPlus3Point67PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus3Point67PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexPlus3Point67PercentMember_1" xml:lang="en-US" id="label_USDollarIndexPlus3Point67PercentMember_1">U.S. Dollar + 3.67%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus3Point67PercentMember" xlink:to="label_USDollarIndexPlus3Point67PercentMember_1" xlink:title="Label : USDollarIndexPlus3Point67PercentMember to label_USDollarIndexPlus3Point67PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus3Point67PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexPlus3Point67PercentMember_2" xml:lang="en-US" id="label_USDollarIndexPlus3Point67PercentMember_2">This member stands for the information pertaining to index U.S. Dollar + 3.67%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus3Point67PercentMember" xlink:to="label_USDollarIndexPlus3Point67PercentMember_2" xlink:title="Label : USDollarIndexPlus3Point67PercentMember to label_USDollarIndexPlus3Point67PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_USDollarIndexPlus1Point59PercentMember" xlink:label="USDollarIndexPlus1Point59PercentMember" xlink:title="USDollarIndexPlus1Point59PercentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus1Point59PercentMember" xlink:to="label_USDollarIndexPlus1Point59PercentMember" xlink:title="Label : USDollarIndexPlus1Point59PercentMember to label_USDollarIndexPlus1Point59PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus1Point59PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_USDollarIndexPlus1Point59PercentMember_1" xml:lang="en-US" id="label_USDollarIndexPlus1Point59PercentMember_1">U.S. Dollar + 1.59%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus1Point59PercentMember" xlink:to="label_USDollarIndexPlus1Point59PercentMember_1" xlink:title="Label : USDollarIndexPlus1Point59PercentMember to label_USDollarIndexPlus1Point59PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_USDollarIndexPlus1Point59PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_USDollarIndexPlus1Point59PercentMember_2" xml:lang="en-US" id="label_USDollarIndexPlus1Point59PercentMember_2">This member stands for the information pertaining to index U.S. Dollar + 1.59%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="USDollarIndexPlus1Point59PercentMember" xlink:to="label_USDollarIndexPlus1Point59PercentMember_2" xlink:title="Label : USDollarIndexPlus1Point59PercentMember to label_USDollarIndexPlus1Point59PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus0Point81PercentMember" xlink:label="IPCAIndexPlus0Point81PercentMember" xlink:title="IPCAIndexPlus0Point81PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus0Point81PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus0Point81PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus0Point81PercentMember">IPCA Index Plus 0 Point 81 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus0Point81PercentMember" xlink:to="label_IPCAIndexPlus0Point81PercentMember" xlink:title="Label : IPCAIndexPlus0Point81PercentMember to label_IPCAIndexPlus0Point81PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus0Point81PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus0Point81PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus0Point81PercentMember_1">IPCA + 0.81%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus0Point81PercentMember" xlink:to="label_IPCAIndexPlus0Point81PercentMember_1" xlink:title="Label : IPCAIndexPlus0Point81PercentMember to label_IPCAIndexPlus0Point81PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus0Point81PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus0Point81PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus0Point81PercentMember_2">This member stands for the information pertaining to index IPCA + 0.81%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus0Point81PercentMember" xlink:to="label_IPCAIndexPlus0Point81PercentMember_2" xlink:title="Label : IPCAIndexPlus0Point81PercentMember to label_IPCAIndexPlus0Point81PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Libor3MonthPlus3Point50PercentMember" xlink:label="Libor3MonthPlus3Point50PercentMember" xlink:title="Libor3MonthPlus3Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_Libor3MonthPlus3Point50PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Libor3MonthPlus3Point50PercentMember" xml:lang="en-US" id="label_Libor3MonthPlus3Point50PercentMember">Libor 3 Month Plus 3 Point 50 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Libor3MonthPlus3Point50PercentMember" xlink:to="label_Libor3MonthPlus3Point50PercentMember" xlink:title="Label : Libor3MonthPlus3Point50PercentMember to label_Libor3MonthPlus3Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_Libor3MonthPlus3Point50PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Libor3MonthPlus3Point50PercentMember_1" xml:lang="en-US" id="label_Libor3MonthPlus3Point50PercentMember_1">Libor 3-month + 3.50%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Libor3MonthPlus3Point50PercentMember" xlink:to="label_Libor3MonthPlus3Point50PercentMember_1" xlink:title="Label : Libor3MonthPlus3Point50PercentMember to label_Libor3MonthPlus3Point50PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Libor3MonthPlus3Point50PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Libor3MonthPlus3Point50PercentMember_2" xml:lang="en-US" id="label_Libor3MonthPlus3Point50PercentMember_2">This member stands for the information pertaining to index Libor 3-month + 3.50%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Libor3MonthPlus3Point50PercentMember" xlink:to="label_Libor3MonthPlus3Point50PercentMember_2" xlink:title="Label : Libor3MonthPlus3Point50PercentMember to label_Libor3MonthPlus3Point50PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Libor3MonthPlus1Point00PercentMember" xlink:label="Libor3MonthPlus1Point00PercentMember" xlink:title="Libor3MonthPlus1Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_Libor3MonthPlus1Point00PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Libor3MonthPlus1Point00PercentMember" xml:lang="en-US" id="label_Libor3MonthPlus1Point00PercentMember">Libor 3 Month Plus 1 Point 00 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Libor3MonthPlus1Point00PercentMember" xlink:to="label_Libor3MonthPlus1Point00PercentMember" xlink:title="Label : Libor3MonthPlus1Point00PercentMember to label_Libor3MonthPlus1Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_Libor3MonthPlus1Point00PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Libor3MonthPlus1Point00PercentMember_1" xml:lang="en-US" id="label_Libor3MonthPlus1Point00PercentMember_1">Libor 3-month + 1.00%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Libor3MonthPlus1Point00PercentMember" xlink:to="label_Libor3MonthPlus1Point00PercentMember_1" xlink:title="Label : Libor3MonthPlus1Point00PercentMember to label_Libor3MonthPlus1Point00PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Libor3MonthPlus1Point00PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Libor3MonthPlus1Point00PercentMember_2" xml:lang="en-US" id="label_Libor3MonthPlus1Point00PercentMember_2">This member stands for the information pertaining to index Libor 3-month + 1.00%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Libor3MonthPlus1Point00PercentMember" xlink:to="label_Libor3MonthPlus1Point00PercentMember_2" xlink:title="Label : Libor3MonthPlus1Point00PercentMember to label_Libor3MonthPlus1Point00PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point68PercentMember" xlink:label="IPCAIndexPlus4Point68PercentMember" xlink:title="IPCAIndexPlus4Point68PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point68PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point68PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point68PercentMember">IPCA Index Plus 4 Point 68 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point68PercentMember" xlink:to="label_IPCAIndexPlus4Point68PercentMember" xlink:title="Label : IPCAIndexPlus4Point68PercentMember to label_IPCAIndexPlus4Point68PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point68PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point68PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point68PercentMember_1">IPCA + 4.68%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point68PercentMember" xlink:to="label_IPCAIndexPlus4Point68PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point68PercentMember to label_IPCAIndexPlus4Point68PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point68PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point68PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point68PercentMember_2">This member stands for the information pertaining to index IPCA + 4.68%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point68PercentMember" xlink:to="label_IPCAIndexPlus4Point68PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point68PercentMember to label_IPCAIndexPlus4Point68PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point50PercentMember" xlink:label="IPCAIndexPlus4Point50PercentMember" xlink:title="IPCAIndexPlus4Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point50PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point50PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point50PercentMember">IPCA Index Plus 4 Point 50 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point50PercentMember" xlink:to="label_IPCAIndexPlus4Point50PercentMember" xlink:title="Label : IPCAIndexPlus4Point50PercentMember to label_IPCAIndexPlus4Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point50PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point50PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point50PercentMember_1">IPCA + 4.50%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point50PercentMember" xlink:to="label_IPCAIndexPlus4Point50PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point50PercentMember to label_IPCAIndexPlus4Point50PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point50PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point50PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point50PercentMember_2">This member stands for the information pertaining to index IPCA + 4.50%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point50PercentMember" xlink:to="label_IPCAIndexPlus4Point50PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point50PercentMember to label_IPCAIndexPlus4Point50PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus2Point65PercentMember" xlink:label="CDIIndexPlus2Point65PercentMember" xlink:title="CDIIndexPlus2Point65PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point65PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus2Point65PercentMember" xml:lang="en-US" id="label_CDIIndexPlus2Point65PercentMember">CDI Index Plus 2 Point 65 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point65PercentMember" xlink:to="label_CDIIndexPlus2Point65PercentMember" xlink:title="Label : CDIIndexPlus2Point65PercentMember to label_CDIIndexPlus2Point65PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point65PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus2Point65PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus2Point65PercentMember_1">CDI + 2.65%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point65PercentMember" xlink:to="label_CDIIndexPlus2Point65PercentMember_1" xlink:title="Label : CDIIndexPlus2Point65PercentMember to label_CDIIndexPlus2Point65PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point65PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus2Point65PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus2Point65PercentMember_2">This member stands for the information pertaining to index CDI + 2.65%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point65PercentMember" xlink:to="label_CDIIndexPlus2Point65PercentMember_2" xlink:title="Label : CDIIndexPlus2Point65PercentMember to label_CDIIndexPlus2Point65PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus6Point80PercentMember" xlink:label="IPCAIndexPlus6Point80PercentMember" xlink:title="IPCAIndexPlus6Point80PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus6Point80PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus6Point80PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus6Point80PercentMember">IPCA Index Plus 6 Point 80 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus6Point80PercentMember" xlink:to="label_IPCAIndexPlus6Point80PercentMember" xlink:title="Label : IPCAIndexPlus6Point80PercentMember to label_IPCAIndexPlus6Point80PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus6Point80PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus6Point80PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus6Point80PercentMember_1">IPCA + 6.80%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus6Point80PercentMember" xlink:to="label_IPCAIndexPlus6Point80PercentMember_1" xlink:title="Label : IPCAIndexPlus6Point80PercentMember to label_IPCAIndexPlus6Point80PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus6Point80PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus6Point80PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus6Point80PercentMember_2">This member stands for the information pertaining to index IPCA + 6.80%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus6Point80PercentMember" xlink:to="label_IPCAIndexPlus6Point80PercentMember_2" xlink:title="Label : IPCAIndexPlus6Point80PercentMember to label_IPCAIndexPlus6Point80PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus3Point90PercentMember" xlink:label="IPCAIndexPlus3Point90PercentMember" xlink:title="IPCAIndexPlus3Point90PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point90PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus3Point90PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus3Point90PercentMember">IPCA Index Plus 3 Point 90 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point90PercentMember" xlink:to="label_IPCAIndexPlus3Point90PercentMember" xlink:title="Label : IPCAIndexPlus3Point90PercentMember to label_IPCAIndexPlus3Point90PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point90PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus3Point90PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus3Point90PercentMember_1">IPCA + 3.90%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point90PercentMember" xlink:to="label_IPCAIndexPlus3Point90PercentMember_1" xlink:title="Label : IPCAIndexPlus3Point90PercentMember to label_IPCAIndexPlus3Point90PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus3Point90PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus3Point90PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus3Point90PercentMember_2">This member stands for the information pertaining to index IPCA + 3.90%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus3Point90PercentMember" xlink:to="label_IPCAIndexPlus3Point90PercentMember_2" xlink:title="Label : IPCAIndexPlus3Point90PercentMember to label_IPCAIndexPlus3Point90PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point00PercentMember" xlink:label="IPCAIndexPlus4Point00PercentMember" xlink:title="IPCAIndexPlus4Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point00PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point00PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point00PercentMember">IPCA Index Plus 4 Point 00 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point00PercentMember" xlink:to="label_IPCAIndexPlus4Point00PercentMember" xlink:title="Label : IPCAIndexPlus4Point00PercentMember to label_IPCAIndexPlus4Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point00PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point00PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point00PercentMember_1">IPCA + 4.00%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point00PercentMember" xlink:to="label_IPCAIndexPlus4Point00PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point00PercentMember to label_IPCAIndexPlus4Point00PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point00PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point00PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point00PercentMember_2">This member stands for the information pertaining to index IPCA + 4.00%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point00PercentMember" xlink:to="label_IPCAIndexPlus4Point00PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point00PercentMember to label_IPCAIndexPlus4Point00PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus7Point48PercentMember" xlink:label="IPCAIndexPlus7Point48PercentMember" xlink:title="IPCAIndexPlus7Point48PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus7Point48PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus7Point48PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus7Point48PercentMember">IPCA Index Plus 7 Point 48 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus7Point48PercentMember" xlink:to="label_IPCAIndexPlus7Point48PercentMember" xlink:title="Label : IPCAIndexPlus7Point48PercentMember to label_IPCAIndexPlus7Point48PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus7Point48PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus7Point48PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus7Point48PercentMember_1">IPCA + 7.48%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus7Point48PercentMember" xlink:to="label_IPCAIndexPlus7Point48PercentMember_1" xlink:title="Label : IPCAIndexPlus7Point48PercentMember to label_IPCAIndexPlus7Point48PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus7Point48PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus7Point48PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus7Point48PercentMember_2">This member stands for the information pertaining to index IPCA + 7.48%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus7Point48PercentMember" xlink:to="label_IPCAIndexPlus7Point48PercentMember_2" xlink:title="Label : IPCAIndexPlus7Point48PercentMember to label_IPCAIndexPlus7Point48PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus7Point36PercentMember" xlink:label="IPCAIndexPlus7Point36PercentMember" xlink:title="IPCAIndexPlus7Point36PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus7Point36PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus7Point36PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus7Point36PercentMember">IPCA Index Plus 7 Point 36 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus7Point36PercentMember" xlink:to="label_IPCAIndexPlus7Point36PercentMember" xlink:title="Label : IPCAIndexPlus7Point36PercentMember to label_IPCAIndexPlus7Point36PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus7Point36PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus7Point36PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus7Point36PercentMember_1">IPCA + 7.36%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus7Point36PercentMember" xlink:to="label_IPCAIndexPlus7Point36PercentMember_1" xlink:title="Label : IPCAIndexPlus7Point36PercentMember to label_IPCAIndexPlus7Point36PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus7Point36PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus7Point36PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus7Point36PercentMember_2">This member stands for the information pertaining to index IPCA + 7.36%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus7Point36PercentMember" xlink:to="label_IPCAIndexPlus7Point36PercentMember_2" xlink:title="Label : IPCAIndexPlus7Point36PercentMember to label_IPCAIndexPlus7Point36PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus5Point87PercentMember" xlink:label="IPCAIndexPlus5Point87PercentMember" xlink:title="IPCAIndexPlus5Point87PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point87PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus5Point87PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus5Point87PercentMember">IPCA Index Plus 5 Point 87 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point87PercentMember" xlink:to="label_IPCAIndexPlus5Point87PercentMember" xlink:title="Label : IPCAIndexPlus5Point87PercentMember to label_IPCAIndexPlus5Point87PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point87PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus5Point87PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus5Point87PercentMember_1">IPCA + 5.87%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point87PercentMember" xlink:to="label_IPCAIndexPlus5Point87PercentMember_1" xlink:title="Label : IPCAIndexPlus5Point87PercentMember to label_IPCAIndexPlus5Point87PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus5Point87PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus5Point87PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus5Point87PercentMember_2">This member stands for the information pertaining to index IPCA + 5.87%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus5Point87PercentMember" xlink:to="label_IPCAIndexPlus5Point87PercentMember_2" xlink:title="Label : IPCAIndexPlus5Point87PercentMember to label_IPCAIndexPlus5Point87PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAIndexPlus4Point33PercentMember" xlink:label="IPCAIndexPlus4Point33PercentMember" xlink:title="IPCAIndexPlus4Point33PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point33PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAIndexPlus4Point33PercentMember" xml:lang="en-US" id="label_IPCAIndexPlus4Point33PercentMember">IPCA Index Plus 4 Point 33 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point33PercentMember" xlink:to="label_IPCAIndexPlus4Point33PercentMember" xlink:title="Label : IPCAIndexPlus4Point33PercentMember to label_IPCAIndexPlus4Point33PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point33PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAIndexPlus4Point33PercentMember_1" xml:lang="en-US" id="label_IPCAIndexPlus4Point33PercentMember_1">IPCA + 4.33%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point33PercentMember" xlink:to="label_IPCAIndexPlus4Point33PercentMember_1" xlink:title="Label : IPCAIndexPlus4Point33PercentMember to label_IPCAIndexPlus4Point33PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAIndexPlus4Point33PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAIndexPlus4Point33PercentMember_2" xml:lang="en-US" id="label_IPCAIndexPlus4Point33PercentMember_2">This member stands for the information pertaining to index IPCA + 4.33%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAIndexPlus4Point33PercentMember" xlink:to="label_IPCAIndexPlus4Point33PercentMember_2" xlink:title="Label : IPCAIndexPlus4Point33PercentMember to label_IPCAIndexPlus4Point33PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IGPMIndexPlus6Point10PercentMember" xlink:label="IGPMIndexPlus6Point10PercentMember" xlink:title="IGPMIndexPlus6Point10PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IGPMIndexPlus6Point10PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IGPMIndexPlus6Point10PercentMember" xml:lang="en-US" id="label_IGPMIndexPlus6Point10PercentMember">IGPM Index Plus 6 Point 10 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGPMIndexPlus6Point10PercentMember" xlink:to="label_IGPMIndexPlus6Point10PercentMember" xlink:title="Label : IGPMIndexPlus6Point10PercentMember to label_IGPMIndexPlus6Point10PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_IGPMIndexPlus6Point10PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IGPMIndexPlus6Point10PercentMember_1" xml:lang="en-US" id="label_IGPMIndexPlus6Point10PercentMember_1">IGPM + 6.10%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGPMIndexPlus6Point10PercentMember" xlink:to="label_IGPMIndexPlus6Point10PercentMember_1" xlink:title="Label : IGPMIndexPlus6Point10PercentMember to label_IGPMIndexPlus6Point10PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IGPMIndexPlus6Point10PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IGPMIndexPlus6Point10PercentMember_2" xml:lang="en-US" id="label_IGPMIndexPlus6Point10PercentMember_2">This member stands for the information pertaining to index IGPM + 6.10%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGPMIndexPlus6Point10PercentMember" xlink:to="label_IGPMIndexPlus6Point10PercentMember_2" xlink:title="Label : IGPMIndexPlus6Point10PercentMember to label_IGPMIndexPlus6Point10PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus0Point50PercentMember" xlink:label="CDIIndexPlus0Point50PercentMember" xlink:title="CDIIndexPlus0Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus0Point50PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus0Point50PercentMember" xml:lang="en-US" id="label_CDIIndexPlus0Point50PercentMember">CDI Index Plus 0 Point 50 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus0Point50PercentMember" xlink:to="label_CDIIndexPlus0Point50PercentMember" xlink:title="Label : CDIIndexPlus0Point50PercentMember to label_CDIIndexPlus0Point50PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus0Point50PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus0Point50PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus0Point50PercentMember_1">CDI + 0.50%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus0Point50PercentMember" xlink:to="label_CDIIndexPlus0Point50PercentMember_1" xlink:title="Label : CDIIndexPlus0Point50PercentMember to label_CDIIndexPlus0Point50PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus0Point50PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus0Point50PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus0Point50PercentMember_2">This member stands for the information pertaining to index CDI + 0.50% .</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus0Point50PercentMember" xlink:to="label_CDIIndexPlus0Point50PercentMember_2" xlink:title="Label : CDIIndexPlus0Point50PercentMember to label_CDIIndexPlus0Point50PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus2Point75PercentMember" xlink:label="CDIIndexPlus2Point75PercentMember" xlink:title="CDIIndexPlus2Point75PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point75PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus2Point75PercentMember" xml:lang="en-US" id="label_CDIIndexPlus2Point75PercentMember">CDI Index Plus 2 Point 75 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point75PercentMember" xlink:to="label_CDIIndexPlus2Point75PercentMember" xlink:title="Label : CDIIndexPlus2Point75PercentMember to label_CDIIndexPlus2Point75PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point75PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus2Point75PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus2Point75PercentMember_1">CDI + 2.75%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point75PercentMember" xlink:to="label_CDIIndexPlus2Point75PercentMember_1" xlink:title="Label : CDIIndexPlus2Point75PercentMember to label_CDIIndexPlus2Point75PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus2Point75PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus2Point75PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus2Point75PercentMember_2">This member stands for the information pertaining to index CDI + 2.75% .</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus2Point75PercentMember" xlink:to="label_CDIIndexPlus2Point75PercentMember_2" xlink:title="Label : CDIIndexPlus2Point75PercentMember to label_CDIIndexPlus2Point75PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus3Point00PercentMember" xlink:label="CDIIndexPlus3Point00PercentMember" xlink:title="CDIIndexPlus3Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point00PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus3Point00PercentMember" xml:lang="en-US" id="label_CDIIndexPlus3Point00PercentMember">CDI Index Plus 3 Point 00 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point00PercentMember" xlink:to="label_CDIIndexPlus3Point00PercentMember" xlink:title="Label : CDIIndexPlus3Point00PercentMember to label_CDIIndexPlus3Point00PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point00PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus3Point00PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus3Point00PercentMember_1">CDI + 3.00%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point00PercentMember" xlink:to="label_CDIIndexPlus3Point00PercentMember_1" xlink:title="Label : CDIIndexPlus3Point00PercentMember to label_CDIIndexPlus3Point00PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point00PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus3Point00PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus3Point00PercentMember_2">This member stands for the information pertaining to index CDI + 3.00%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point00PercentMember" xlink:to="label_CDIIndexPlus3Point00PercentMember_2" xlink:title="Label : CDIIndexPlus3Point00PercentMember to label_CDIIndexPlus3Point00PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIIndexPlus3Point40PercentMember" xlink:label="CDIIndexPlus3Point40PercentMember" xlink:title="CDIIndexPlus3Point40PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point40PercentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIIndexPlus3Point40PercentMember" xml:lang="en-US" id="label_CDIIndexPlus3Point40PercentMember">CDI Index Plus 3 Point 40 Percent [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point40PercentMember" xlink:to="label_CDIIndexPlus3Point40PercentMember" xlink:title="Label : CDIIndexPlus3Point40PercentMember to label_CDIIndexPlus3Point40PercentMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point40PercentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIIndexPlus3Point40PercentMember_1" xml:lang="en-US" id="label_CDIIndexPlus3Point40PercentMember_1">CDI + 3.40%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point40PercentMember" xlink:to="label_CDIIndexPlus3Point40PercentMember_1" xlink:title="Label : CDIIndexPlus3Point40PercentMember to label_CDIIndexPlus3Point40PercentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIIndexPlus3Point40PercentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIIndexPlus3Point40PercentMember_2" xml:lang="en-US" id="label_CDIIndexPlus3Point40PercentMember_2">This member stands for the information pertaining to index CDI + 3.40%.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIIndexPlus3Point40PercentMember" xlink:to="label_CDIIndexPlus3Point40PercentMember_2" xlink:title="Label : CDIIndexPlus3Point40PercentMember to label_CDIIndexPlus3Point40PercentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_June2023Member" xlink:label="June2023Member" xlink:title="June2023Member" />
    <link:label xlink:type="resource" xlink:label="label_June2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_June2023Member" xml:lang="en-US" id="label_June2023Member">June 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2023Member" xlink:to="label_June2023Member" xlink:title="Label : June2023Member to label_June2023Member" />
    <link:label xlink:type="resource" xlink:label="label_June2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_June2023Member_1" xml:lang="en-US" id="label_June2023Member_1">June-2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2023Member" xlink:to="label_June2023Member_1" xlink:title="Label : June2023Member to label_June2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_June2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_June2023Member_2" xml:lang="en-US" id="label_June2023Member_2">This member stands for a time band of June-2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2023Member" xlink:to="label_June2023Member_2" xlink:title="Label : June2023Member to label_June2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_December2029Member" xlink:label="December2029Member" xlink:title="December2029Member" />
    <link:label xlink:type="resource" xlink:label="label_December2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_December2029Member" xml:lang="en-US" id="label_December2029Member">December 2029 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2029Member" xlink:to="label_December2029Member" xlink:title="Label : December2029Member to label_December2029Member" />
    <link:label xlink:type="resource" xlink:label="label_December2029Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_December2029Member_1" xml:lang="en-US" id="label_December2029Member_1">December-2029</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2029Member" xlink:to="label_December2029Member_1" xlink:title="Label : December2029Member to label_December2029Member_1" />
    <link:label xlink:type="resource" xlink:label="label_December2029Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_December2029Member_2" xml:lang="en-US" id="label_December2029Member_2">This member stands for a time band of December-2029.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2029Member" xlink:to="label_December2029Member_2" xlink:title="Label : December2029Member to label_December2029Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2025Member" xlink:label="January2025Member" xlink:title="January2025Member" />
    <link:label xlink:type="resource" xlink:label="label_January2025Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2025Member" xml:lang="en-US" id="label_January2025Member">January-2025</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2025Member" xlink:to="label_January2025Member" xlink:title="Label : January2025Member to label_January2025Member" />
    <link:label xlink:type="resource" xlink:label="label_January2025Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2025Member_1" xml:lang="en-US" id="label_January2025Member_1">January 2025 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2025Member" xlink:to="label_January2025Member_1" xlink:title="Label : January2025Member to label_January2025Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2025Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2025Member_2" xml:lang="en-US" id="label_January2025Member_2">This member stands for a time band of January-2025.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2025Member" xlink:to="label_January2025Member_2" xlink:title="Label : January2025Member to label_January2025Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_October2020Member" xlink:label="October2020Member" xlink:title="October2020Member" />
    <link:label xlink:type="resource" xlink:label="label_October2020Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2020Member" xml:lang="en-US" id="label_October2020Member">October 2020 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2020Member" xlink:to="label_October2020Member" xlink:title="Label : October2020Member to label_October2020Member" />
    <link:label xlink:type="resource" xlink:label="label_October2020Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2020Member_1" xml:lang="en-US" id="label_October2020Member_1">October-2020</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2020Member" xlink:to="label_October2020Member_1" xlink:title="Label : October2020Member to label_October2020Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October2020Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October2020Member_2" xml:lang="en-US" id="label_October2020Member_2">This member stands for a time band of October-2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2020Member" xlink:to="label_October2020Member_2" xlink:title="Label : October2020Member to label_October2020Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September2020Member" xlink:label="September2020Member" xlink:title="September2020Member" />
    <link:label xlink:type="resource" xlink:label="label_September2020Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September2020Member" xml:lang="en-US" id="label_September2020Member">September-2020</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2020Member" xlink:to="label_September2020Member" xlink:title="Label : September2020Member to label_September2020Member" />
    <link:label xlink:type="resource" xlink:label="label_September2020Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September2020Member_1" xml:lang="en-US" id="label_September2020Member_1">September 2020 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2020Member" xlink:to="label_September2020Member_1" xlink:title="Label : September2020Member to label_September2020Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September2020Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September2020Member_2" xml:lang="en-US" id="label_September2020Member_2">This member stands for a time band of September-2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2020Member" xlink:to="label_September2020Member_2" xlink:title="Label : September2020Member to label_September2020Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_November2021Member" xlink:label="November2021Member" xlink:title="November2021Member" />
    <link:label xlink:type="resource" xlink:label="label_November2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_November2021Member" xml:lang="en-US" id="label_November2021Member">November 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2021Member" xlink:to="label_November2021Member" xlink:title="Label : November2021Member to label_November2021Member" />
    <link:label xlink:type="resource" xlink:label="label_November2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_November2021Member_1" xml:lang="en-US" id="label_November2021Member_1">November-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2021Member" xlink:to="label_November2021Member_1" xlink:title="Label : November2021Member to label_November2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_November2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_November2021Member_2" xml:lang="en-US" id="label_November2021Member_2">This member stands for a time band of November-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2021Member" xlink:to="label_November2021Member_2" xlink:title="Label : November2021Member to label_November2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_March2022Member" xlink:label="March2022Member" xlink:title="March2022Member" />
    <link:label xlink:type="resource" xlink:label="label_March2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_March2022Member" xml:lang="en-US" id="label_March2022Member">March 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2022Member" xlink:to="label_March2022Member" xlink:title="Label : March2022Member to label_March2022Member" />
    <link:label xlink:type="resource" xlink:label="label_March2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_March2022Member_1" xml:lang="en-US" id="label_March2022Member_1">March-2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2022Member" xlink:to="label_March2022Member_1" xlink:title="Label : March2022Member to label_March2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_March2022Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_March2022Member_2" xml:lang="en-US" id="label_March2022Member_2">This member stands for a time band of March-2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2022Member" xlink:to="label_March2022Member_2" xlink:title="Label : March2022Member to label_March2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2024Member" xlink:label="January2024Member" xlink:title="January2024Member" />
    <link:label xlink:type="resource" xlink:label="label_January2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2024Member" xml:lang="en-US" id="label_January2024Member">January 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2024Member" xlink:to="label_January2024Member" xlink:title="Label : January2024Member to label_January2024Member" />
    <link:label xlink:type="resource" xlink:label="label_January2024Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2024Member_1" xml:lang="en-US" id="label_January2024Member_1">January-2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2024Member" xlink:to="label_January2024Member_1" xlink:title="Label : January2024Member to label_January2024Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2024Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2024Member_2" xml:lang="en-US" id="label_January2024Member_2">This member stands for a time band of January-2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2024Member" xlink:to="label_January2024Member_2" xlink:title="Label : January2024Member to label_January2024Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_April2029Member" xlink:label="April2029Member" xlink:title="April2029Member" />
    <link:label xlink:type="resource" xlink:label="label_April2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_April2029Member" xml:lang="en-US" id="label_April2029Member">April 2029 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2029Member" xlink:to="label_April2029Member" xlink:title="Label : April2029Member to label_April2029Member" />
    <link:label xlink:type="resource" xlink:label="label_April2029Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_April2029Member_1" xml:lang="en-US" id="label_April2029Member_1">April-2029</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2029Member" xlink:to="label_April2029Member_1" xlink:title="Label : April2029Member to label_April2029Member_1" />
    <link:label xlink:type="resource" xlink:label="label_April2029Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_April2029Member_2" xml:lang="en-US" id="label_April2029Member_2">This member stands for a time band of April-2029.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2029Member" xlink:to="label_April2029Member_2" xlink:title="Label : April2029Member to label_April2029Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September2026Member" xlink:label="September2026Member" xlink:title="September2026Member" />
    <link:label xlink:type="resource" xlink:label="label_September2026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September2026Member" xml:lang="en-US" id="label_September2026Member">September 2026 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2026Member" xlink:to="label_September2026Member" xlink:title="Label : September2026Member to label_September2026Member" />
    <link:label xlink:type="resource" xlink:label="label_September2026Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September2026Member_1" xml:lang="en-US" id="label_September2026Member_1">September-2026</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2026Member" xlink:to="label_September2026Member_1" xlink:title="Label : September2026Member to label_September2026Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September2026Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September2026Member_2" xml:lang="en-US" id="label_September2026Member_2">This member stands for a time band of September-2026.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2026Member" xlink:to="label_September2026Member_2" xlink:title="Label : September2026Member to label_September2026Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_May2021Member" xlink:label="May2021Member" xlink:title="May2021Member" />
    <link:label xlink:type="resource" xlink:label="label_May2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_May2021Member" xml:lang="en-US" id="label_May2021Member">May 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2021Member" xlink:to="label_May2021Member" xlink:title="Label : May2021Member to label_May2021Member" />
    <link:label xlink:type="resource" xlink:label="label_May2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_May2021Member_1" xml:lang="en-US" id="label_May2021Member_1">May-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2021Member" xlink:to="label_May2021Member_1" xlink:title="Label : May2021Member to label_May2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_May2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_May2021Member_2" xml:lang="en-US" id="label_May2021Member_2">This member stands for a time band of May-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2021Member" xlink:to="label_May2021Member_2" xlink:title="Label : May2021Member to label_May2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September2021Member" xlink:label="September2021Member" xlink:title="September2021Member" />
    <link:label xlink:type="resource" xlink:label="label_September2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September2021Member" xml:lang="en-US" id="label_September2021Member">September 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2021Member" xlink:to="label_September2021Member" xlink:title="Label : September2021Member to label_September2021Member" />
    <link:label xlink:type="resource" xlink:label="label_September2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September2021Member_1" xml:lang="en-US" id="label_September2021Member_1">September-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2021Member" xlink:to="label_September2021Member_1" xlink:title="Label : September2021Member to label_September2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September2021Member_2" xml:lang="en-US" id="label_September2021Member_2">This member stands for a time band of September-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2021Member" xlink:to="label_September2021Member_2" xlink:title="Label : September2021Member to label_September2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_July2021Member" xlink:label="July2021Member" xlink:title="July2021Member" />
    <link:label xlink:type="resource" xlink:label="label_July2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_July2021Member" xml:lang="en-US" id="label_July2021Member">July 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July2021Member" xlink:to="label_July2021Member" xlink:title="Label : July2021Member to label_July2021Member" />
    <link:label xlink:type="resource" xlink:label="label_July2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_July2021Member_1" xml:lang="en-US" id="label_July2021Member_1">July-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July2021Member" xlink:to="label_July2021Member_1" xlink:title="Label : July2021Member to label_July2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_July2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_July2021Member_2" xml:lang="en-US" id="label_July2021Member_2">This member stands for a time band of July-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July2021Member" xlink:to="label_July2021Member_2" xlink:title="Label : July2021Member to label_July2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_November2022Member" xlink:label="November2022Member" xlink:title="November2022Member" />
    <link:label xlink:type="resource" xlink:label="label_November2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_November2022Member" xml:lang="en-US" id="label_November2022Member">November 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2022Member" xlink:to="label_November2022Member" xlink:title="Label : November2022Member to label_November2022Member" />
    <link:label xlink:type="resource" xlink:label="label_November2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_November2022Member_1" xml:lang="en-US" id="label_November2022Member_1">November-2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2022Member" xlink:to="label_November2022Member_1" xlink:title="Label : November2022Member to label_November2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_November2022Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_November2022Member_2" xml:lang="en-US" id="label_November2022Member_2">This member stands for a time band of November-2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2022Member" xlink:to="label_November2022Member_2" xlink:title="Label : November2022Member to label_November2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_December2021Member" xlink:label="December2021Member" xlink:title="December2021Member" />
    <link:label xlink:type="resource" xlink:label="label_December2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_December2021Member" xml:lang="en-US" id="label_December2021Member">December 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2021Member" xlink:to="label_December2021Member" xlink:title="Label : December2021Member to label_December2021Member" />
    <link:label xlink:type="resource" xlink:label="label_December2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_December2021Member_1" xml:lang="en-US" id="label_December2021Member_1">December-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2021Member" xlink:to="label_December2021Member_1" xlink:title="Label : December2021Member to label_December2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_December2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_December2021Member_2" xml:lang="en-US" id="label_December2021Member_2">This member stands for a time band of December-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2021Member" xlink:to="label_December2021Member_2" xlink:title="Label : December2021Member to label_December2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_December2022Member" xlink:label="December2022Member" xlink:title="December2022Member" />
    <link:label xlink:type="resource" xlink:label="label_December2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_December2022Member" xml:lang="en-US" id="label_December2022Member">December 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2022Member" xlink:to="label_December2022Member" xlink:title="Label : December2022Member to label_December2022Member" />
    <link:label xlink:type="resource" xlink:label="label_December2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_December2022Member_1" xml:lang="en-US" id="label_December2022Member_1">December-2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2022Member" xlink:to="label_December2022Member_1" xlink:title="Label : December2022Member to label_December2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_December2022Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_December2022Member_2" xml:lang="en-US" id="label_December2022Member_2">This member stands for a time band of December-2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2022Member" xlink:to="label_December2022Member_2" xlink:title="Label : December2022Member to label_December2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September2022Member" xlink:label="September2022Member" xlink:title="September2022Member" />
    <link:label xlink:type="resource" xlink:label="label_September2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September2022Member" xml:lang="en-US" id="label_September2022Member">September 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2022Member" xlink:to="label_September2022Member" xlink:title="Label : September2022Member to label_September2022Member" />
    <link:label xlink:type="resource" xlink:label="label_September2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September2022Member_1" xml:lang="en-US" id="label_September2022Member_1">September-2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2022Member" xlink:to="label_September2022Member_1" xlink:title="Label : September2022Member to label_September2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September2022Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September2022Member_2" xml:lang="en-US" id="label_September2022Member_2">This member stands for a time band of September-2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2022Member" xlink:to="label_September2022Member_2" xlink:title="Label : September2022Member to label_September2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_February2023Member" xlink:label="February2023Member" xlink:title="February2023Member" />
    <link:label xlink:type="resource" xlink:label="label_February2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2023Member" xml:lang="en-US" id="label_February2023Member">February 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2023Member" xlink:to="label_February2023Member" xlink:title="Label : February2023Member to label_February2023Member" />
    <link:label xlink:type="resource" xlink:label="label_February2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2023Member_1" xml:lang="en-US" id="label_February2023Member_1">February-2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2023Member" xlink:to="label_February2023Member_1" xlink:title="Label : February2023Member to label_February2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_February2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_February2023Member_2" xml:lang="en-US" id="label_February2023Member_2">This member stands for a time band of February-2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2023Member" xlink:to="label_February2023Member_2" xlink:title="Label : February2023Member to label_February2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_December2023Member" xlink:label="December2023Member" xlink:title="December2023Member" />
    <link:label xlink:type="resource" xlink:label="label_December2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_December2023Member" xml:lang="en-US" id="label_December2023Member">December 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2023Member" xlink:to="label_December2023Member" xlink:title="Label : December2023Member to label_December2023Member" />
    <link:label xlink:type="resource" xlink:label="label_December2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_December2023Member_1" xml:lang="en-US" id="label_December2023Member_1">December-2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2023Member" xlink:to="label_December2023Member_1" xlink:title="Label : December2023Member to label_December2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_December2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_December2023Member_2" xml:lang="en-US" id="label_December2023Member_2">This member stands for a time band of December-2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2023Member" xlink:to="label_December2023Member_2" xlink:title="Label : December2023Member to label_December2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_March2021Member" xlink:label="March2021Member" xlink:title="March2021Member" />
    <link:label xlink:type="resource" xlink:label="label_March2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_March2021Member" xml:lang="en-US" id="label_March2021Member">March 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2021Member" xlink:to="label_March2021Member" xlink:title="Label : March2021Member to label_March2021Member" />
    <link:label xlink:type="resource" xlink:label="label_March2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_March2021Member_1" xml:lang="en-US" id="label_March2021Member_1">March-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2021Member" xlink:to="label_March2021Member_1" xlink:title="Label : March2021Member to label_March2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_March2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_March2021Member_2" xml:lang="en-US" id="label_March2021Member_2">This member stands for a time band of March-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2021Member" xlink:to="label_March2021Member_2" xlink:title="Label : March2021Member to label_March2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_April2021Member" xlink:label="April2021Member" xlink:title="April2021Member" />
    <link:label xlink:type="resource" xlink:label="label_April2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_April2021Member" xml:lang="en-US" id="label_April2021Member">April 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2021Member" xlink:to="label_April2021Member" xlink:title="Label : April2021Member to label_April2021Member" />
    <link:label xlink:type="resource" xlink:label="label_April2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_April2021Member_1" xml:lang="en-US" id="label_April2021Member_1">April-2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2021Member" xlink:to="label_April2021Member_1" xlink:title="Label : April2021Member to label_April2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_April2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_April2021Member_2" xml:lang="en-US" id="label_April2021Member_2">This member stands for a time band of April-2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2021Member" xlink:to="label_April2021Member_2" xlink:title="Label : April2021Member to label_April2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_May2023Member" xlink:label="May2023Member" xlink:title="May2023Member" />
    <link:label xlink:type="resource" xlink:label="label_May2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_May2023Member" xml:lang="en-US" id="label_May2023Member">May 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2023Member" xlink:to="label_May2023Member" xlink:title="Label : May2023Member to label_May2023Member" />
    <link:label xlink:type="resource" xlink:label="label_May2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_May2023Member_1" xml:lang="en-US" id="label_May2023Member_1">May-2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2023Member" xlink:to="label_May2023Member_1" xlink:title="Label : May2023Member to label_May2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_May2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_May2023Member_2" xml:lang="en-US" id="label_May2023Member_2">This member stands for a time band of May-2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2023Member" xlink:to="label_May2023Member_2" xlink:title="Label : May2023Member to label_May2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2048Member" xlink:label="January2048Member" xlink:title="January2048Member" />
    <link:label xlink:type="resource" xlink:label="label_January2048Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2048Member" xml:lang="en-US" id="label_January2048Member">January 2048 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2048Member" xlink:to="label_January2048Member" xlink:title="Label : January2048Member to label_January2048Member" />
    <link:label xlink:type="resource" xlink:label="label_January2048Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2048Member_1" xml:lang="en-US" id="label_January2048Member_1">January-2048</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2048Member" xlink:to="label_January2048Member_1" xlink:title="Label : January2048Member to label_January2048Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2048Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2048Member_2" xml:lang="en-US" id="label_January2048Member_2">This member stands for a time band of January-2048.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2048Member" xlink:to="label_January2048Member_2" xlink:title="Label : January2048Member to label_January2048Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_November2040Member" xlink:label="November2040Member" xlink:title="November2040Member" />
    <link:label xlink:type="resource" xlink:label="label_November2040Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_November2040Member" xml:lang="en-US" id="label_November2040Member">November 2040 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2040Member" xlink:to="label_November2040Member" xlink:title="Label : November2040Member to label_November2040Member" />
    <link:label xlink:type="resource" xlink:label="label_November2040Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_November2040Member_1" xml:lang="en-US" id="label_November2040Member_1">November-2040</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2040Member" xlink:to="label_November2040Member_1" xlink:title="Label : November2040Member to label_November2040Member_1" />
    <link:label xlink:type="resource" xlink:label="label_November2040Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_November2040Member_2" xml:lang="en-US" id="label_November2040Member_2">This member stands for a time band of November-2040.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="November2040Member" xlink:to="label_November2040Member_2" xlink:title="Label : November2040Member to label_November2040Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_March2023Member" xlink:label="March2023Member" xlink:title="March2023Member" />
    <link:label xlink:type="resource" xlink:label="label_March2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_March2023Member" xml:lang="en-US" id="label_March2023Member">March 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2023Member" xlink:to="label_March2023Member" xlink:title="Label : March2023Member to label_March2023Member" />
    <link:label xlink:type="resource" xlink:label="label_March2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_March2023Member_1" xml:lang="en-US" id="label_March2023Member_1">March-2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2023Member" xlink:to="label_March2023Member_1" xlink:title="Label : March2023Member to label_March2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_March2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_March2023Member_2" xml:lang="en-US" id="label_March2023Member_2">This member stands for a time band of March-2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="March2023Member" xlink:to="label_March2023Member_2" xlink:title="Label : March2023Member to label_March2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_February2024Member" xlink:label="February2024Member" xlink:title="February2024Member" />
    <link:label xlink:type="resource" xlink:label="label_February2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2024Member" xml:lang="en-US" id="label_February2024Member">February 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2024Member" xlink:to="label_February2024Member" xlink:title="Label : February2024Member to label_February2024Member" />
    <link:label xlink:type="resource" xlink:label="label_February2024Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2024Member_1" xml:lang="en-US" id="label_February2024Member_1">February-2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2024Member" xlink:to="label_February2024Member_1" xlink:title="Label : February2024Member to label_February2024Member_1" />
    <link:label xlink:type="resource" xlink:label="label_February2024Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_February2024Member_2" xml:lang="en-US" id="label_February2024Member_2">This member stands for a time band of February-2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2024Member" xlink:to="label_February2024Member_2" xlink:title="Label : February2024Member to label_February2024Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September2024Member" xlink:label="September2024Member" xlink:title="September2024Member" />
    <link:label xlink:type="resource" xlink:label="label_September2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September2024Member" xml:lang="en-US" id="label_September2024Member">September 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2024Member" xlink:to="label_September2024Member" xlink:title="Label : September2024Member to label_September2024Member" />
    <link:label xlink:type="resource" xlink:label="label_September2024Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September2024Member_1" xml:lang="en-US" id="label_September2024Member_1">September-2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2024Member" xlink:to="label_September2024Member_1" xlink:title="Label : September2024Member to label_September2024Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September2024Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September2024Member_2" xml:lang="en-US" id="label_September2024Member_2">This member stands for a time band of September-2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2024Member" xlink:to="label_September2024Member_2" xlink:title="Label : September2024Member to label_September2024Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2027Member" xlink:label="January2027Member" xlink:title="January2027Member" />
    <link:label xlink:type="resource" xlink:label="label_January2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2027Member" xml:lang="en-US" id="label_January2027Member">January 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2027Member" xlink:to="label_January2027Member" xlink:title="Label : January2027Member to label_January2027Member" />
    <link:label xlink:type="resource" xlink:label="label_January2027Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2027Member_1" xml:lang="en-US" id="label_January2027Member_1">January-2027</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2027Member" xlink:to="label_January2027Member_1" xlink:title="Label : January2027Member to label_January2027Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2027Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2027Member_2" xml:lang="en-US" id="label_January2027Member_2">This member stands for a time band of January-2027.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2027Member" xlink:to="label_January2027Member_2" xlink:title="Label : January2027Member to label_January2027Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2028Member" xlink:label="January2028Member" xlink:title="January2028Member" />
    <link:label xlink:type="resource" xlink:label="label_January2028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2028Member" xml:lang="en-US" id="label_January2028Member">January 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2028Member" xlink:to="label_January2028Member" xlink:title="Label : January2028Member to label_January2028Member" />
    <link:label xlink:type="resource" xlink:label="label_January2028Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2028Member_1" xml:lang="en-US" id="label_January2028Member_1">January-2028</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2028Member" xlink:to="label_January2028Member_1" xlink:title="Label : January2028Member to label_January2028Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2028Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2028Member_2" xml:lang="en-US" id="label_January2028Member_2">This member stands for a time band of January-2028.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2028Member" xlink:to="label_January2028Member_2" xlink:title="Label : January2028Member to label_January2028Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_September2029Member" xlink:label="September2029Member" xlink:title="September2029Member" />
    <link:label xlink:type="resource" xlink:label="label_September2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_September2029Member" xml:lang="en-US" id="label_September2029Member">September 2029 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2029Member" xlink:to="label_September2029Member" xlink:title="Label : September2029Member to label_September2029Member" />
    <link:label xlink:type="resource" xlink:label="label_September2029Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_September2029Member_1" xml:lang="en-US" id="label_September2029Member_1">September-2029</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2029Member" xlink:to="label_September2029Member_1" xlink:title="Label : September2029Member to label_September2029Member_1" />
    <link:label xlink:type="resource" xlink:label="label_September2029Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_September2029Member_2" xml:lang="en-US" id="label_September2029Member_2">This member stands for a time band of September-2029.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="September2029Member" xlink:to="label_September2029Member_2" xlink:title="Label : September2029Member to label_September2029Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_February2026Member" xlink:label="February2026Member" xlink:title="February2026Member" />
    <link:label xlink:type="resource" xlink:label="label_February2026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2026Member" xml:lang="en-US" id="label_February2026Member">February 2026 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2026Member" xlink:to="label_February2026Member" xlink:title="Label : February2026Member to label_February2026Member" />
    <link:label xlink:type="resource" xlink:label="label_February2026Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2026Member_1" xml:lang="en-US" id="label_February2026Member_1">February-2026</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2026Member" xlink:to="label_February2026Member_1" xlink:title="Label : February2026Member to label_February2026Member_1" />
    <link:label xlink:type="resource" xlink:label="label_February2026Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_February2026Member_2" xml:lang="en-US" id="label_February2026Member_2">This member stands for a time band of February-2026.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2026Member" xlink:to="label_February2026Member_2" xlink:title="Label : February2026Member to label_February2026Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_February2029Member" xlink:label="February2029Member" xlink:title="February2029Member" />
    <link:label xlink:type="resource" xlink:label="label_February2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February2029Member" xml:lang="en-US" id="label_February2029Member">February 2029 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2029Member" xlink:to="label_February2029Member" xlink:title="Label : February2029Member to label_February2029Member" />
    <link:label xlink:type="resource" xlink:label="label_February2029Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February2029Member_1" xml:lang="en-US" id="label_February2029Member_1">February-2029</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2029Member" xlink:to="label_February2029Member_1" xlink:title="Label : February2029Member to label_February2029Member_1" />
    <link:label xlink:type="resource" xlink:label="label_February2029Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_February2029Member_2" xml:lang="en-US" id="label_February2029Member_2">This member stands for a time band of February-2029.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February2029Member" xlink:to="label_February2029Member_2" xlink:title="Label : February2029Member to label_February2029Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August2025Member" xlink:label="August2025Member" xlink:title="August2025Member" />
    <link:label xlink:type="resource" xlink:label="label_August2025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_August2025Member" xml:lang="en-US" id="label_August2025Member">August 2025 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2025Member" xlink:to="label_August2025Member" xlink:title="Label : August2025Member to label_August2025Member" />
    <link:label xlink:type="resource" xlink:label="label_August2025Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_August2025Member_1" xml:lang="en-US" id="label_August2025Member_1">August-2025</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2025Member" xlink:to="label_August2025Member_1" xlink:title="Label : August2025Member to label_August2025Member_1" />
    <link:label xlink:type="resource" xlink:label="label_August2025Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August2025Member_2" xml:lang="en-US" id="label_August2025Member_2">This member stands for a time band of August-2025.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2025Member" xlink:to="label_August2025Member_2" xlink:title="Label : August2025Member to label_August2025Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_April2030Member" xlink:label="April2030Member" xlink:title="April2030Member" />
    <link:label xlink:type="resource" xlink:label="label_April2030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_April2030Member" xml:lang="en-US" id="label_April2030Member">April 2030 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2030Member" xlink:to="label_April2030Member" xlink:title="Label : April2030Member to label_April2030Member" />
    <link:label xlink:type="resource" xlink:label="label_April2030Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_April2030Member_1" xml:lang="en-US" id="label_April2030Member_1">April-2030</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2030Member" xlink:to="label_April2030Member_1" xlink:title="Label : April2030Member to label_April2030Member_1" />
    <link:label xlink:type="resource" xlink:label="label_April2030Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_April2030Member_2" xml:lang="en-US" id="label_April2030Member_2">This member stands for a time band of April-2030.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2030Member" xlink:to="label_April2030Member_2" xlink:title="Label : April2030Member to label_April2030Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_October2029Member" xlink:label="October2029Member" xlink:title="October2029Member" />
    <link:label xlink:type="resource" xlink:label="label_October2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2029Member" xml:lang="en-US" id="label_October2029Member">October 2029 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2029Member" xlink:to="label_October2029Member" xlink:title="Label : October2029Member to label_October2029Member" />
    <link:label xlink:type="resource" xlink:label="label_October2029Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2029Member_1" xml:lang="en-US" id="label_October2029Member_1">October-2029</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2029Member" xlink:to="label_October2029Member_1" xlink:title="Label : October2029Member to label_October2029Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October2029Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October2029Member_2" xml:lang="en-US" id="label_October2029Member_2">This member stands for a time band of October-2029.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2029Member" xlink:to="label_October2029Member_2" xlink:title="Label : October2029Member to label_October2029Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_December2025Member" xlink:label="December2025Member" xlink:title="December2025Member" />
    <link:label xlink:type="resource" xlink:label="label_December2025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_December2025Member" xml:lang="en-US" id="label_December2025Member">December 2025 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2025Member" xlink:to="label_December2025Member" xlink:title="Label : December2025Member to label_December2025Member" />
    <link:label xlink:type="resource" xlink:label="label_December2025Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_December2025Member_1" xml:lang="en-US" id="label_December2025Member_1">December-2025</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2025Member" xlink:to="label_December2025Member_1" xlink:title="Label : December2025Member to label_December2025Member_1" />
    <link:label xlink:type="resource" xlink:label="label_December2025Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_December2025Member_2" xml:lang="en-US" id="label_December2025Member_2">This member stands for a time band of December-2025.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="December2025Member" xlink:to="label_December2025Member_2" xlink:title="Label : December2025Member to label_December2025Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_October2024Member" xlink:label="October2024Member" xlink:title="October2024Member" />
    <link:label xlink:type="resource" xlink:label="label_October2024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2024Member" xml:lang="en-US" id="label_October2024Member">October 2024 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2024Member" xlink:to="label_October2024Member" xlink:title="Label : October2024Member to label_October2024Member" />
    <link:label xlink:type="resource" xlink:label="label_October2024Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2024Member_1" xml:lang="en-US" id="label_October2024Member_1">October-2024</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2024Member" xlink:to="label_October2024Member_1" xlink:title="Label : October2024Member to label_October2024Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October2024Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October2024Member_2" xml:lang="en-US" id="label_October2024Member_2">This member stands for a time band of October-2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2024Member" xlink:to="label_October2024Member_2" xlink:title="Label : October2024Member to label_October2024Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_May2028Member" xlink:label="May2028Member" xlink:title="May2028Member" />
    <link:label xlink:type="resource" xlink:label="label_May2028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_May2028Member" xml:lang="en-US" id="label_May2028Member">May 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2028Member" xlink:to="label_May2028Member" xlink:title="Label : May2028Member to label_May2028Member" />
    <link:label xlink:type="resource" xlink:label="label_May2028Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_May2028Member_1" xml:lang="en-US" id="label_May2028Member_1">May-2028</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2028Member" xlink:to="label_May2028Member_1" xlink:title="Label : May2028Member to label_May2028Member_1" />
    <link:label xlink:type="resource" xlink:label="label_May2028Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_May2028Member_2" xml:lang="en-US" id="label_May2028Member_2">This member stands for a time band of May-2028.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="May2028Member" xlink:to="label_May2028Member_2" xlink:title="Label : May2028Member to label_May2028Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_October2022Member" xlink:label="October2022Member" xlink:title="October2022Member" />
    <link:label xlink:type="resource" xlink:label="label_October2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2022Member" xml:lang="en-US" id="label_October2022Member">October 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2022Member" xlink:to="label_October2022Member" xlink:title="Label : October2022Member to label_October2022Member" />
    <link:label xlink:type="resource" xlink:label="label_October2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_October2022Member_1" xml:lang="en-US" id="label_October2022Member_1">October-2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2022Member" xlink:to="label_October2022Member_1" xlink:title="Label : October2022Member to label_October2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October2022Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October2022Member_2" xml:lang="en-US" id="label_October2022Member_2">This member stands for a time band of October-2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2022Member" xlink:to="label_October2022Member_2" xlink:title="Label : October2022Member to label_October2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_June2022Member" xlink:label="June2022Member" xlink:title="June2022Member" />
    <link:label xlink:type="resource" xlink:label="label_June2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_June2022Member" xml:lang="en-US" id="label_June2022Member">June 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2022Member" xlink:to="label_June2022Member" xlink:title="Label : June2022Member to label_June2022Member" />
    <link:label xlink:type="resource" xlink:label="label_June2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_June2022Member_1" xml:lang="en-US" id="label_June2022Member_1">June-2022</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2022Member" xlink:to="label_June2022Member_1" xlink:title="Label : June2022Member to label_June2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_June2022Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_June2022Member_2" xml:lang="en-US" id="label_June2022Member_2">This member stands for a time band of June-2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June2022Member" xlink:to="label_June2022Member_2" xlink:title="Label : June2022Member to label_June2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2020Member" xlink:label="January2020Member" xlink:title="January2020Member" />
    <link:label xlink:type="resource" xlink:label="label_January2020Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2020Member" xml:lang="en-US" id="label_January2020Member">January 2020 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2020Member" xlink:to="label_January2020Member" xlink:title="Label : January2020Member to label_January2020Member" />
    <link:label xlink:type="resource" xlink:label="label_January2020Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2020Member_1" xml:lang="en-US" id="label_January2020Member_1">January-2020</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2020Member" xlink:to="label_January2020Member_1" xlink:title="Label : January2020Member to label_January2020Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2020Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2020Member_2" xml:lang="en-US" id="label_January2020Member_2">This member stands for a time band of January-2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2020Member" xlink:to="label_January2020Member_2" xlink:title="Label : January2020Member to label_January2020Member_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageMember" xlink:label="WeightedAverageMember" xlink:title="WeightedAverageMember" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageMember" xml:lang="en-US" id="label_WeightedAverageMember">Weighted average [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageMember" xlink:to="label_WeightedAverageMember" xlink:title="Label : WeightedAverageMember to label_WeightedAverageMember" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageMember_1" xml:lang="en-US" id="label_WeightedAverageMember_1">Weighted average</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageMember" xlink:to="label_WeightedAverageMember_1" xlink:title="Label : WeightedAverageMember to label_WeightedAverageMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:label="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="DisclosureOfDetailedInformationAboutBorrowingsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems">Disclosure of detailed information about borrowings [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:title="Label : DisclosureOfDetailedInformationAboutBorrowingsLineItems to label_DisclosureOfDetailedInformationAboutBorrowingsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems_1" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems_1">Disclosure of detailed information about borrowings [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsLineItems" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsLineItems_1" xlink:title="Label : DisclosureOfDetailedInformationAboutBorrowingsLineItems to label_DisclosureOfDetailedInformationAboutBorrowingsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsInterestRateBasis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsInterestRateBasis_1" xml:lang="en-US" id="label_BorrowingsInterestRateBasis_1">Interest, Index</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRateBasis" xlink:to="label_BorrowingsInterestRateBasis_1" xlink:title="Label : BorrowingsInterestRateBasis to label_BorrowingsInterestRateBasis_1" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsInterestRateBasis_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsInterestRateBasis_2" xml:lang="en-US" id="label_BorrowingsInterestRateBasis_2">Borrowings, interest rate basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRateBasis" xlink:to="label_BorrowingsInterestRateBasis_2" xlink:title="Label : BorrowingsInterestRateBasis to label_BorrowingsInterestRateBasis_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="BorrowingsInterestRate" xlink:title="BorrowingsInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsInterestRate" xml:lang="en-US" id="label_BorrowingsInterestRate">Annual interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRate" xlink:to="label_BorrowingsInterestRate" xlink:title="Label : BorrowingsInterestRate to label_BorrowingsInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsInterestRate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsInterestRate_1" xml:lang="en-US" id="label_BorrowingsInterestRate_1">Borrowings, interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRate" xlink:to="label_BorrowingsInterestRate_1" xlink:title="Label : BorrowingsInterestRate to label_BorrowingsInterestRate_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BorrowingsMaturity" xlink:label="BorrowingsMaturity" xlink:title="BorrowingsMaturity" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsMaturity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsMaturity" xml:lang="en-US" id="label_BorrowingsMaturity">Borrowings, maturity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsMaturity" xlink:to="label_BorrowingsMaturity" xlink:title="Label : BorrowingsMaturity to label_BorrowingsMaturity" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsMaturity_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsMaturity_1" xml:lang="en-US" id="label_BorrowingsMaturity_1">Maturity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsMaturity" xlink:to="label_BorrowingsMaturity_1" xlink:title="Label : BorrowingsMaturity to label_BorrowingsMaturity_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LoansAndBorrowings" xlink:label="LoansAndBorrowings" xlink:title="LoansAndBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_LoansAndBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoansAndBorrowings" xml:lang="en-US" id="label_LoansAndBorrowings">Loans And Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndBorrowings" xlink:to="label_LoansAndBorrowings" xlink:title="Label : LoansAndBorrowings to label_LoansAndBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_LoansAndBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LoansAndBorrowings_1" xml:lang="en-US" id="label_LoansAndBorrowings_1">Loans, borrowings and debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndBorrowings" xlink:to="label_LoansAndBorrowings_1" xlink:title="Label : LoansAndBorrowings to label_LoansAndBorrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_LoansAndBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LoansAndBorrowings_2" xml:lang="en-US" id="label_LoansAndBorrowings_2">Loans and borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndBorrowings" xlink:to="label_LoansAndBorrowings_2" xlink:title="Label : LoansAndBorrowings to label_LoansAndBorrowings_2" />
    <link:label xlink:type="resource" xlink:label="label_LoansAndBorrowings_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LoansAndBorrowings_3" xml:lang="en-US" id="label_LoansAndBorrowings_3">Loans and borrowings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndBorrowings" xlink:to="label_LoansAndBorrowings_3" xlink:title="Label : LoansAndBorrowings to label_LoansAndBorrowings_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfBorrowingsObjective" xlink:label="DescriptionOfBorrowingsObjective" xlink:title="DescriptionOfBorrowingsObjective" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfBorrowingsObjective" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfBorrowingsObjective" xml:lang="en-US" id="label_DescriptionOfBorrowingsObjective">The description of objective of borrowings obtained.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfBorrowingsObjective" xlink:to="label_DescriptionOfBorrowingsObjective" xlink:title="Label : DescriptionOfBorrowingsObjective to label_DescriptionOfBorrowingsObjective" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfBorrowingsObjective_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfBorrowingsObjective_1" xml:lang="en-US" id="label_DescriptionOfBorrowingsObjective_1">Objective</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfBorrowingsObjective" xlink:to="label_DescriptionOfBorrowingsObjective_1" xlink:title="Label : DescriptionOfBorrowingsObjective to label_DescriptionOfBorrowingsObjective_1" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfBorrowingsObjective_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfBorrowingsObjective_2" xml:lang="en-US" id="label_DescriptionOfBorrowingsObjective_2">Description Of Borrowings Objective</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfBorrowingsObjective" xlink:to="label_DescriptionOfBorrowingsObjective_2" xlink:title="Label : DescriptionOfBorrowingsObjective to label_DescriptionOfBorrowingsObjective_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanTwoYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanTwoYearsMember">13 to 24 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:title="Label : LaterThanOneYearAndNotLaterThanTwoYearsMember to label_LaterThanOneYearAndNotLaterThanTwoYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_1" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_1">From 1 to 2 years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_1" xlink:title="Label : LaterThanOneYearAndNotLaterThanTwoYearsMember to label_LaterThanOneYearAndNotLaterThanTwoYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xml:lang="en-US" id="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">25 to 36 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:title="Label : LaterThanTwoYearsAndNotLaterThanThreeYearsMember to label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_1" xml:lang="en-US" id="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_1">Later than two years and not later than three years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_1" xlink:title="Label : LaterThanTwoYearsAndNotLaterThanThreeYearsMember to label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="LaterThanThreeYearsAndNotLaterThanFourYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember">37 to 48 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:title="Label : LaterThanThreeYearsAndNotLaterThanFourYearsMember to label_LaterThanThreeYearsAndNotLaterThanFourYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_1" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_1">Later than three years and not later than four years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_1" xlink:title="Label : LaterThanThreeYearsAndNotLaterThanFourYearsMember to label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="LaterThanFourYearsAndNotLaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember">49 to 60 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:title="Label : LaterThanFourYearsAndNotLaterThanFiveYearsMember to label_LaterThanFourYearsAndNotLaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_1" xml:lang="en-US" id="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_1">Later than four years and not later than five years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_1" xlink:title="Label : LaterThanFourYearsAndNotLaterThanFiveYearsMember to label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:label="LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:title="LaterThanFiveYearsAndNotLaterThanSixYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember">Later than five years and not later than six years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanSixYearsMember to label_LaterThanFiveYearsAndNotLaterThanSixYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_1" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_1">61 to 72 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_1" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanSixYearsMember to label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_2" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_2">This member stands for a time band of later than five years and not later than six years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_2" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanSixYearsMember to label_LaterThanFiveYearsAndNotLaterThanSixYearsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:label="LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:title="LaterThanSixYearsAndNotLaterThanSevenYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xml:lang="en-US" id="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember">Later than six years and not later than seven years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:to="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:title="Label : LaterThanSixYearsAndNotLaterThanSevenYearsMember to label_LaterThanSixYearsAndNotLaterThanSevenYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_1" xml:lang="en-US" id="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_1">73 to 84 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:to="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_1" xlink:title="Label : LaterThanSixYearsAndNotLaterThanSevenYearsMember to label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_2" xml:lang="en-US" id="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_2">Later than six years and not later than seven years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:to="label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_2" xlink:title="Label : LaterThanSixYearsAndNotLaterThanSevenYearsMember to label_LaterThanSixYearsAndNotLaterThanSevenYearsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:label="LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:title="LaterThanSevenYearsAndNotLaterThanEightYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xml:lang="en-US" id="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember">Later than seven years and not later than eight years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:to="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:title="Label : LaterThanSevenYearsAndNotLaterThanEightYearsMember to label_LaterThanSevenYearsAndNotLaterThanEightYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_1" xml:lang="en-US" id="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_1">85 to 96 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:to="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_1" xlink:title="Label : LaterThanSevenYearsAndNotLaterThanEightYearsMember to label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_2" xml:lang="en-US" id="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_2">Later than seven years and not later than eight years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:to="label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_2" xlink:title="Label : LaterThanSevenYearsAndNotLaterThanEightYearsMember to label_LaterThanSevenYearsAndNotLaterThanEightYearsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanEightYearsMember" xlink:label="LaterThanEightYearsMember" xlink:title="LaterThanEightYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanEightYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanEightYearsMember" xml:lang="en-US" id="label_LaterThanEightYearsMember">Later Than Eight Years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanEightYearsMember" xlink:to="label_LaterThanEightYearsMember" xlink:title="Label : LaterThanEightYearsMember to label_LaterThanEightYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanEightYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanEightYearsMember_1" xml:lang="en-US" id="label_LaterThanEightYearsMember_1">Thereafter [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanEightYearsMember" xlink:to="label_LaterThanEightYearsMember_1" xlink:title="Label : LaterThanEightYearsMember to label_LaterThanEightYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanEightYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaterThanEightYearsMember_2" xml:lang="en-US" id="label_LaterThanEightYearsMember_2">Later than eight years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanEightYearsMember" xlink:to="label_LaterThanEightYearsMember_2" xlink:title="Label : LaterThanEightYearsMember to label_LaterThanEightYearsMember_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2021/currency-2021.xsd#currency_BRL" xlink:label="BRL" xlink:title="BRL" />
    <link:label xlink:type="resource" xlink:label="label_BRL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BRL" xml:lang="en-US" id="label_BRL">Brazil, Brazil Real</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BRL" xlink:to="label_BRL" xlink:title="Label : BRL to label_BRL" />
    <link:label xlink:type="resource" xlink:label="label_BRL_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BRL_1" xml:lang="en-US" id="label_BRL_1">Brazilian reais (R$) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BRL" xlink:to="label_BRL_1" xlink:title="Label : BRL to label_BRL_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EURMember" xlink:label="EURMember" xlink:title="EURMember" />
    <link:label xlink:type="resource" xlink:label="label_EURMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EURMember" xml:lang="en-US" id="label_EURMember">EUR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EURMember" xlink:to="label_EURMember" xlink:title="Label : EURMember to label_EURMember" />
    <link:label xlink:type="resource" xlink:label="label_EURMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EURMember_1" xml:lang="en-US" id="label_EURMember_1">Euro (EUR) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EURMember" xlink:to="label_EURMember_1" xlink:title="Label : EURMember to label_EURMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EURMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EURMember_2" xml:lang="en-US" id="label_EURMember_2">EUR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EURMember" xlink:to="label_EURMember_2" xlink:title="Label : EURMember to label_EURMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:label="IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:title="IncreaseDecreaseThroughAcquisitionsBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughAcquisitionsBorrowings" xml:lang="en-US" id="label_IncreaseDecreaseThroughAcquisitionsBorrowings">Increase Decrease Through Acquisitions, Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:to="label_IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:title="Label : IncreaseDecreaseThroughAcquisitionsBorrowings to label_IncreaseDecreaseThroughAcquisitionsBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAcquisitionsBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughAcquisitionsBorrowings_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughAcquisitionsBorrowings_1">Raised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:to="label_IncreaseDecreaseThroughAcquisitionsBorrowings_1" xlink:title="Label : IncreaseDecreaseThroughAcquisitionsBorrowings to label_IncreaseDecreaseThroughAcquisitionsBorrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAcquisitionsBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughAcquisitionsBorrowings_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughAcquisitionsBorrowings_2">Increase decrease through acquisitions, Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAcquisitionsBorrowings" xlink:to="label_IncreaseDecreaseThroughAcquisitionsBorrowings_2" xlink:title="Label : IncreaseDecreaseThroughAcquisitionsBorrowings to label_IncreaseDecreaseThroughAcquisitionsBorrowings_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="en-US" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">Repayments of borrowings, classified as financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:title="Label : RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_1">Repayment of principal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_1" xlink:title="Label : RepaymentsOfBorrowingsClassifiedAsFinancingActivities to label_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:label="IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:title="IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings">Increase (decrease) through net exchange differences, Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesBorrowings to label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_1">Interest, exchange rate and fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_1" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesBorrowings to label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_2">Increase (decrease) through net exchange differences, Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesBorrowings" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_2" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesBorrowings to label_IncreaseDecreaseThroughNetExchangeDifferencesBorrowings_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Debentures5ThTo8ThIssuesMember" xlink:label="Debentures5ThTo8ThIssuesMember" xlink:title="Debentures5ThTo8ThIssuesMember" />
    <link:label xlink:type="resource" xlink:label="label_Debentures5ThTo8ThIssuesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Debentures5ThTo8ThIssuesMember" xml:lang="en-US" id="label_Debentures5ThTo8ThIssuesMember">This member stands for the information pertaining to Debentures 5th to 8th issues.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Debentures5ThTo8ThIssuesMember" xlink:to="label_Debentures5ThTo8ThIssuesMember" xlink:title="Label : Debentures5ThTo8ThIssuesMember to label_Debentures5ThTo8ThIssuesMember" />
    <link:label xlink:type="resource" xlink:label="label_Debentures5ThTo8ThIssuesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Debentures5ThTo8ThIssuesMember_1" xml:lang="en-US" id="label_Debentures5ThTo8ThIssuesMember_1">Debentures 5Th To 8Th Issues [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Debentures5ThTo8ThIssuesMember" xlink:to="label_Debentures5ThTo8ThIssuesMember_1" xlink:title="Label : Debentures5ThTo8ThIssuesMember to label_Debentures5ThTo8ThIssuesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Debentures5ThTo8ThIssuesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Debentures5ThTo8ThIssuesMember_2" xml:lang="en-US" id="label_Debentures5ThTo8ThIssuesMember_2">Debentures 5th to 8th issue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Debentures5ThTo8ThIssuesMember" xlink:to="label_Debentures5ThTo8ThIssuesMember_2" xlink:title="Label : Debentures5ThTo8ThIssuesMember to label_Debentures5ThTo8ThIssuesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebenturesFourthIssueMember" xlink:label="DebenturesFourthIssueMember" xlink:title="DebenturesFourthIssueMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFourthIssueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebenturesFourthIssueMember" xml:lang="en-US" id="label_DebenturesFourthIssueMember">Debentures fourth issue [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFourthIssueMember" xlink:to="label_DebenturesFourthIssueMember" xlink:title="Label : DebenturesFourthIssueMember to label_DebenturesFourthIssueMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFourthIssueMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebenturesFourthIssueMember_1" xml:lang="en-US" id="label_DebenturesFourthIssueMember_1">Debentures 4th issue [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFourthIssueMember" xlink:to="label_DebenturesFourthIssueMember_1" xlink:title="Label : DebenturesFourthIssueMember to label_DebenturesFourthIssueMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFourthIssueMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesFourthIssueMember_2" xml:lang="en-US" id="label_DebenturesFourthIssueMember_2">Debentures fourth issue.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFourthIssueMember" xlink:to="label_DebenturesFourthIssueMember_2" xlink:title="Label : DebenturesFourthIssueMember to label_DebenturesFourthIssueMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BorrowingsDescriptionOfFinancialCovenants" xlink:label="BorrowingsDescriptionOfFinancialCovenants" xlink:title="BorrowingsDescriptionOfFinancialCovenants" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsDescriptionOfFinancialCovenants" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BorrowingsDescriptionOfFinancialCovenants" xml:lang="en-US" id="label_BorrowingsDescriptionOfFinancialCovenants">Borrowings, Description of Financial Covenants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsDescriptionOfFinancialCovenants" xlink:to="label_BorrowingsDescriptionOfFinancialCovenants" xlink:title="Label : BorrowingsDescriptionOfFinancialCovenants to label_BorrowingsDescriptionOfFinancialCovenants" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsDescriptionOfFinancialCovenants_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BorrowingsDescriptionOfFinancialCovenants_1" xml:lang="en-US" id="label_BorrowingsDescriptionOfFinancialCovenants_1">Triggers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsDescriptionOfFinancialCovenants" xlink:to="label_BorrowingsDescriptionOfFinancialCovenants_1" xlink:title="Label : BorrowingsDescriptionOfFinancialCovenants to label_BorrowingsDescriptionOfFinancialCovenants_1" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsDescriptionOfFinancialCovenants_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BorrowingsDescriptionOfFinancialCovenants_2" xml:lang="en-US" id="label_BorrowingsDescriptionOfFinancialCovenants_2">Information about the restrictions or covenants imposed by borrowing arrangements on the borrowing entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsDescriptionOfFinancialCovenants" xlink:to="label_BorrowingsDescriptionOfFinancialCovenants_2" xlink:title="Label : BorrowingsDescriptionOfFinancialCovenants to label_BorrowingsDescriptionOfFinancialCovenants_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialCovenantLeverageRatio" xlink:label="FinancialCovenantLeverageRatio" xlink:title="FinancialCovenantLeverageRatio" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCovenantLeverageRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialCovenantLeverageRatio" xml:lang="en-US" id="label_FinancialCovenantLeverageRatio">Financial Covenant Leverage Ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCovenantLeverageRatio" xlink:to="label_FinancialCovenantLeverageRatio" xlink:title="Label : FinancialCovenantLeverageRatio to label_FinancialCovenantLeverageRatio" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCovenantLeverageRatio_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialCovenantLeverageRatio_1" xml:lang="en-US" id="label_FinancialCovenantLeverageRatio_1">Ratios</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCovenantLeverageRatio" xlink:to="label_FinancialCovenantLeverageRatio_1" xlink:title="Label : FinancialCovenantLeverageRatio to label_FinancialCovenantLeverageRatio_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialCovenantLeverageRatio_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialCovenantLeverageRatio_2" xml:lang="en-US" id="label_FinancialCovenantLeverageRatio_2">Financial covenant leverage ratio.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCovenantLeverageRatio" xlink:to="label_FinancialCovenantLeverageRatio_2" xlink:title="Label : FinancialCovenantLeverageRatio to label_FinancialCovenantLeverageRatio_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfMovementOfLeasesAbstract" xlink:label="DisclosureOfMovementOfLeasesAbstract" xlink:title="DisclosureOfMovementOfLeasesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMovementOfLeasesAbstract" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesAbstract">Disclosure Of Movement Of Leases [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesAbstract" xlink:to="label_DisclosureOfMovementOfLeasesAbstract" xlink:title="Label : DisclosureOfMovementOfLeasesAbstract to label_DisclosureOfMovementOfLeasesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfMovementOfLeasesAbstract_1" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesAbstract_1">Disclosure Of Movement Of Leases [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesAbstract" xlink:to="label_DisclosureOfMovementOfLeasesAbstract_1" xlink:title="Label : DisclosureOfMovementOfLeasesAbstract to label_DisclosureOfMovementOfLeasesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfMovementOfLeasesAbstract_2" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesAbstract_2">Disclosure of movement of leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesAbstract" xlink:to="label_DisclosureOfMovementOfLeasesAbstract_2" xlink:title="Label : DisclosureOfMovementOfLeasesAbstract to label_DisclosureOfMovementOfLeasesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfMovementOfLeasesTable" xlink:label="DisclosureOfMovementOfLeasesTable" xlink:title="DisclosureOfMovementOfLeasesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMovementOfLeasesTable" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesTable">Disclosure Of Movement Of Leases [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesTable" xlink:to="label_DisclosureOfMovementOfLeasesTable" xlink:title="Label : DisclosureOfMovementOfLeasesTable to label_DisclosureOfMovementOfLeasesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfMovementOfLeasesTable_1" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesTable_1">Disclosure Of Movement Of Leases [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesTable" xlink:to="label_DisclosureOfMovementOfLeasesTable_1" xlink:title="Label : DisclosureOfMovementOfLeasesTable to label_DisclosureOfMovementOfLeasesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfMovementOfLeasesTable_2" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesTable_2">Disclosure of movement of leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesTable" xlink:to="label_DisclosureOfMovementOfLeasesTable_2" xlink:title="Label : DisclosureOfMovementOfLeasesTable to label_DisclosureOfMovementOfLeasesTable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:label="LiabilitiesArisingFromFinancingActivitiesAxis" xlink:title="LiabilitiesArisingFromFinancingActivitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesArisingFromFinancingActivitiesAxis" xml:lang="en-US" id="label_LiabilitiesArisingFromFinancingActivitiesAxis">Liabilities arising from financing activities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesArisingFromFinancingActivitiesAxis" xlink:to="label_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:title="Label : LiabilitiesArisingFromFinancingActivitiesAxis to label_LiabilitiesArisingFromFinancingActivitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesArisingFromFinancingActivitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesArisingFromFinancingActivitiesAxis_1" xml:lang="en-US" id="label_LiabilitiesArisingFromFinancingActivitiesAxis_1">Liabilities arising from financing activities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesArisingFromFinancingActivitiesAxis" xlink:to="label_LiabilitiesArisingFromFinancingActivitiesAxis_1" xlink:title="Label : LiabilitiesArisingFromFinancingActivitiesAxis to label_LiabilitiesArisingFromFinancingActivitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:label="LiabilitiesArisingFromFinancingActivitiesMember" xlink:title="LiabilitiesArisingFromFinancingActivitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesArisingFromFinancingActivitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesArisingFromFinancingActivitiesMember" xml:lang="en-US" id="label_LiabilitiesArisingFromFinancingActivitiesMember">Liabilities arising from financing activities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesArisingFromFinancingActivitiesMember" xlink:to="label_LiabilitiesArisingFromFinancingActivitiesMember" xlink:title="Label : LiabilitiesArisingFromFinancingActivitiesMember to label_LiabilitiesArisingFromFinancingActivitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesArisingFromFinancingActivitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesArisingFromFinancingActivitiesMember_1" xml:lang="en-US" id="label_LiabilitiesArisingFromFinancingActivitiesMember_1">Liabilities arising from financing activities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesArisingFromFinancingActivitiesMember" xlink:to="label_LiabilitiesArisingFromFinancingActivitiesMember_1" xlink:title="Label : LiabilitiesArisingFromFinancingActivitiesMember to label_LiabilitiesArisingFromFinancingActivitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceLeaseMember" xlink:label="FinanceLeaseMember" xlink:title="FinanceLeaseMember" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceLeaseMember" xml:lang="en-US" id="label_FinanceLeaseMember">Finance Lease [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseMember" xlink:to="label_FinanceLeaseMember" xlink:title="Label : FinanceLeaseMember to label_FinanceLeaseMember" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinanceLeaseMember_1" xml:lang="en-US" id="label_FinanceLeaseMember_1">Finance Lease [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseMember" xlink:to="label_FinanceLeaseMember_1" xlink:title="Label : FinanceLeaseMember to label_FinanceLeaseMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FinanceLeaseMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinanceLeaseMember_2" xml:lang="en-US" id="label_FinanceLeaseMember_2">Finance lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceLeaseMember" xlink:to="label_FinanceLeaseMember_2" xlink:title="Label : FinanceLeaseMember to label_FinanceLeaseMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OperationalLeaseMember" xlink:label="OperationalLeaseMember" xlink:title="OperationalLeaseMember" />
    <link:label xlink:type="resource" xlink:label="label_OperationalLeaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperationalLeaseMember" xml:lang="en-US" id="label_OperationalLeaseMember">Operational Lease [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperationalLeaseMember" xlink:to="label_OperationalLeaseMember" xlink:title="Label : OperationalLeaseMember to label_OperationalLeaseMember" />
    <link:label xlink:type="resource" xlink:label="label_OperationalLeaseMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperationalLeaseMember_1" xml:lang="en-US" id="label_OperationalLeaseMember_1">Operational Lease [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperationalLeaseMember" xlink:to="label_OperationalLeaseMember_1" xlink:title="Label : OperationalLeaseMember to label_OperationalLeaseMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OperationalLeaseMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperationalLeaseMember_2" xml:lang="en-US" id="label_OperationalLeaseMember_2">Operational lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperationalLeaseMember" xlink:to="label_OperationalLeaseMember_2" xlink:title="Label : OperationalLeaseMember to label_OperationalLeaseMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfMovementOfLeasesLineItems" xlink:label="DisclosureOfMovementOfLeasesLineItems" xlink:title="DisclosureOfMovementOfLeasesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMovementOfLeasesLineItems" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesLineItems">Disclosure Of Movement Of Leases [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesLineItems" xlink:to="label_DisclosureOfMovementOfLeasesLineItems" xlink:title="Label : DisclosureOfMovementOfLeasesLineItems to label_DisclosureOfMovementOfLeasesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfMovementOfLeasesLineItems_1" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesLineItems_1">Disclosure Of Movement Of Leases [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesLineItems" xlink:to="label_DisclosureOfMovementOfLeasesLineItems_1" xlink:title="Label : DisclosureOfMovementOfLeasesLineItems to label_DisclosureOfMovementOfLeasesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMovementOfLeasesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfMovementOfLeasesLineItems_2" xml:lang="en-US" id="label_DisclosureOfMovementOfLeasesLineItems_2">Disclosure Of Movement Of Leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMovementOfLeasesLineItems" xlink:to="label_DisclosureOfMovementOfLeasesLineItems_2" xlink:title="Label : DisclosureOfMovementOfLeasesLineItems to label_DisclosureOfMovementOfLeasesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LeaseLiabilities" xlink:label="LeaseLiabilities" xlink:title="LeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseLiabilities" xml:lang="en-US" id="label_LeaseLiabilities">Lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilities" xlink:to="label_LeaseLiabilities" xlink:title="Label : LeaseLiabilities to label_LeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LeaseLiabilities_1" xml:lang="en-US" id="label_LeaseLiabilities_1">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilities" xlink:to="label_LeaseLiabilities_1" xlink:title="Label : LeaseLiabilities to label_LeaseLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_LeaseLiabilities_2" xml:lang="en-US" id="label_LeaseLiabilities_2">Beginning balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilities" xlink:to="label_LeaseLiabilities_2" xlink:title="Label : LeaseLiabilities to label_LeaseLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilities_3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_LeaseLiabilities_3" xml:lang="en-US" id="label_LeaseLiabilities_3">Ending balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilities" xlink:to="label_LeaseLiabilities_3" xlink:title="Label : LeaseLiabilities to label_LeaseLiabilities_3" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilities_4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseLiabilities_4" xml:lang="en-US" id="label_LeaseLiabilities_4">Lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilities" xlink:to="label_LeaseLiabilities_4" xlink:title="Label : LeaseLiabilities to label_LeaseLiabilities_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestExpenseOnLeaseLiabilities" xlink:label="InterestExpenseOnLeaseLiabilities" xlink:title="InterestExpenseOnLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnLeaseLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpenseOnLeaseLiabilities" xml:lang="en-US" id="label_InterestExpenseOnLeaseLiabilities">Interest on lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnLeaseLiabilities" xlink:to="label_InterestExpenseOnLeaseLiabilities" xlink:title="Label : InterestExpenseOnLeaseLiabilities to label_InterestExpenseOnLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnLeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestExpenseOnLeaseLiabilities_1" xml:lang="en-US" id="label_InterestExpenseOnLeaseLiabilities_1">Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnLeaseLiabilities" xlink:to="label_InterestExpenseOnLeaseLiabilities_1" xlink:title="Label : InterestExpenseOnLeaseLiabilities to label_InterestExpenseOnLeaseLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnLeaseLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpenseOnLeaseLiabilities_2" xml:lang="en-US" id="label_InterestExpenseOnLeaseLiabilities_2">Interest expense on lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnLeaseLiabilities" xlink:to="label_InterestExpenseOnLeaseLiabilities_2" xlink:title="Label : InterestExpenseOnLeaseLiabilities to label_InterestExpenseOnLeaseLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TransferOfLiabilities" xlink:label="TransferOfLiabilities" xlink:title="TransferOfLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_TransferOfLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TransferOfLiabilities" xml:lang="en-US" id="label_TransferOfLiabilities">Transfer of liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferOfLiabilities" xlink:to="label_TransferOfLiabilities" xlink:title="Label : TransferOfLiabilities to label_TransferOfLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_TransferOfLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TransferOfLiabilities_1" xml:lang="en-US" id="label_TransferOfLiabilities_1">Transfer between liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferOfLiabilities" xlink:to="label_TransferOfLiabilities_1" xlink:title="Label : TransferOfLiabilities to label_TransferOfLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_TransferOfLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TransferOfLiabilities_2" xml:lang="en-US" id="label_TransferOfLiabilities_2">Transfer Of Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferOfLiabilities" xlink:to="label_TransferOfLiabilities_2" xlink:title="Label : TransferOfLiabilities to label_TransferOfLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentOfLeasePrincipal" xlink:label="PaymentOfLeasePrincipal" xlink:title="PaymentOfLeasePrincipal" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfLeasePrincipal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentOfLeasePrincipal" xml:lang="en-US" id="label_PaymentOfLeasePrincipal">Payment Of Lease Principal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfLeasePrincipal" xlink:to="label_PaymentOfLeasePrincipal" xlink:title="Label : PaymentOfLeasePrincipal to label_PaymentOfLeasePrincipal" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfLeasePrincipal_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentOfLeasePrincipal_1" xml:lang="en-US" id="label_PaymentOfLeasePrincipal_1">Payment of principal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfLeasePrincipal" xlink:to="label_PaymentOfLeasePrincipal_1" xlink:title="Label : PaymentOfLeasePrincipal to label_PaymentOfLeasePrincipal_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfLeasePrincipal_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentOfLeasePrincipal_2" xml:lang="en-US" id="label_PaymentOfLeasePrincipal_2">Payment of lease principal.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfLeasePrincipal" xlink:to="label_PaymentOfLeasePrincipal_2" xlink:title="Label : PaymentOfLeasePrincipal to label_PaymentOfLeasePrincipal_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaymentOfLeaseInterest" xlink:label="PaymentOfLeaseInterest" xlink:title="PaymentOfLeaseInterest" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfLeaseInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaymentOfLeaseInterest" xml:lang="en-US" id="label_PaymentOfLeaseInterest">Payment Of Lease Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfLeaseInterest" xlink:to="label_PaymentOfLeaseInterest" xlink:title="Label : PaymentOfLeaseInterest to label_PaymentOfLeaseInterest" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfLeaseInterest_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaymentOfLeaseInterest_1" xml:lang="en-US" id="label_PaymentOfLeaseInterest_1">Payment of interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfLeaseInterest" xlink:to="label_PaymentOfLeaseInterest_1" xlink:title="Label : PaymentOfLeaseInterest to label_PaymentOfLeaseInterest_1" />
    <link:label xlink:type="resource" xlink:label="label_PaymentOfLeaseInterest_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaymentOfLeaseInterest_2" xml:lang="en-US" id="label_PaymentOfLeaseInterest_2">Payment of lease interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentOfLeaseInterest" xlink:to="label_PaymentOfLeaseInterest_2" xlink:title="Label : PaymentOfLeaseInterest to label_PaymentOfLeaseInterest_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContractsMonetaryCorrection" xlink:label="ContractsMonetaryCorrection" xlink:title="ContractsMonetaryCorrection" />
    <link:label xlink:type="resource" xlink:label="label_ContractsMonetaryCorrection" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContractsMonetaryCorrection" xml:lang="en-US" id="label_ContractsMonetaryCorrection">Contracts monetary correction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractsMonetaryCorrection" xlink:to="label_ContractsMonetaryCorrection" xlink:title="Label : ContractsMonetaryCorrection to label_ContractsMonetaryCorrection" />
    <link:label xlink:type="resource" xlink:label="label_ContractsMonetaryCorrection_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContractsMonetaryCorrection_1" xml:lang="en-US" id="label_ContractsMonetaryCorrection_1">Monetary adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractsMonetaryCorrection" xlink:to="label_ContractsMonetaryCorrection_1" xlink:title="Label : ContractsMonetaryCorrection to label_ContractsMonetaryCorrection_1" />
    <link:label xlink:type="resource" xlink:label="label_ContractsMonetaryCorrection_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractsMonetaryCorrection_2" xml:lang="en-US" id="label_ContractsMonetaryCorrection_2">Contracts Monetary Correction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractsMonetaryCorrection" xlink:to="label_ContractsMonetaryCorrection_2" xlink:title="Label : ContractsMonetaryCorrection to label_ContractsMonetaryCorrection_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentLeaseLiabilities" xlink:label="CurrentLeaseLiabilities" xlink:title="CurrentLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentLeaseLiabilities" xml:lang="en-US" id="label_CurrentLeaseLiabilities">Current lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLeaseLiabilities" xlink:to="label_CurrentLeaseLiabilities" xlink:title="Label : CurrentLeaseLiabilities to label_CurrentLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentLeaseLiabilities_1" xml:lang="en-US" id="label_CurrentLeaseLiabilities_1">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLeaseLiabilities" xlink:to="label_CurrentLeaseLiabilities_1" xlink:title="Label : CurrentLeaseLiabilities to label_CurrentLeaseLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:label="NoncurrentLeaseLiabilities" xlink:title="NoncurrentLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentLeaseLiabilities" xml:lang="en-US" id="label_NoncurrentLeaseLiabilities">Non-current lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLeaseLiabilities" xlink:to="label_NoncurrentLeaseLiabilities" xlink:title="Label : NoncurrentLeaseLiabilities to label_NoncurrentLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentLeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentLeaseLiabilities_1" xml:lang="en-US" id="label_NoncurrentLeaseLiabilities_1">Non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentLeaseLiabilities" xlink:to="label_NoncurrentLeaseLiabilities_1" xlink:title="Label : NoncurrentLeaseLiabilities to label_NoncurrentLeaseLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfLeaseExpenseAbstract" xlink:label="DisclosureOfLeaseExpenseAbstract" xlink:title="DisclosureOfLeaseExpenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfLeaseExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfLeaseExpenseAbstract" xml:lang="en-US" id="label_DisclosureOfLeaseExpenseAbstract">Disclosure Of Lease Expense [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLeaseExpenseAbstract" xlink:to="label_DisclosureOfLeaseExpenseAbstract" xlink:title="Label : DisclosureOfLeaseExpenseAbstract to label_DisclosureOfLeaseExpenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfLeaseExpenseAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfLeaseExpenseAbstract_1" xml:lang="en-US" id="label_DisclosureOfLeaseExpenseAbstract_1">Disclosure Of Lease Expense [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLeaseExpenseAbstract" xlink:to="label_DisclosureOfLeaseExpenseAbstract_1" xlink:title="Label : DisclosureOfLeaseExpenseAbstract to label_DisclosureOfLeaseExpenseAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfLeaseExpenseAbstract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfLeaseExpenseAbstract_2" xml:lang="en-US" id="label_DisclosureOfLeaseExpenseAbstract_2">Disclosure of lease expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLeaseExpenseAbstract" xlink:to="label_DisclosureOfLeaseExpenseAbstract_2" xlink:title="Label : DisclosureOfLeaseExpenseAbstract to label_DisclosureOfLeaseExpenseAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:label="ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:title="ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xml:lang="en-US" id="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities">Expense relating to variable lease payments not included in measurement of lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:title="Label : ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities to label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_1" xml:lang="en-US" id="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_1">Variable lease payments not included in the measurement of lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities" xlink:to="label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_1" xlink:title="Label : ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities to label_ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:label="ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:title="ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xml:lang="en-US" id="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed">Expense relating to short-term leases for which recognition exemption has been used</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:to="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:title="Label : ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed to label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_1" xml:lang="en-US" id="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_1">Expenses relating to short-term leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed" xlink:to="label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_1" xlink:title="Label : ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed to label_ExpenseRelatingToShorttermLeasesForWhichRecognitionExemptionHasBeenUsed_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:label="ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:title="ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xml:lang="en-US" id="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed">Expenses relating to leases of low-value assets excluding short-term leases of low-value assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:to="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:title="Label : ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed to label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed_1" xml:lang="en-US" id="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed_1">Expense relating to leases of low-value assets for which recognition exemption has been used</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed" xlink:to="label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed_1" xlink:title="Label : ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed to label_ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeaseExpense" xlink:label="LeaseExpense" xlink:title="LeaseExpense" />
    <link:label xlink:type="resource" xlink:label="label_LeaseExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseExpense" xml:lang="en-US" id="label_LeaseExpense">Lease Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseExpense" xlink:to="label_LeaseExpense" xlink:title="Label : LeaseExpense to label_LeaseExpense" />
    <link:label xlink:type="resource" xlink:label="label_LeaseExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseExpense_1" xml:lang="en-US" id="label_LeaseExpense_1">Lease expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseExpense" xlink:to="label_LeaseExpense_1" xlink:title="Label : LeaseExpense to label_LeaseExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_LeaseExpense_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseExpense_2" xml:lang="en-US" id="label_LeaseExpense_2">Lease expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseExpense" xlink:to="label_LeaseExpense_2" xlink:title="Label : LeaseExpense to label_LeaseExpense_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherPayablesAbstract" xlink:label="TradeAndOtherPayablesAbstract" xlink:title="TradeAndOtherPayablesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherPayablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherPayablesAbstract" xml:lang="en-US" id="label_TradeAndOtherPayablesAbstract">Trade and other payables [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherPayablesAbstract" xlink:to="label_TradeAndOtherPayablesAbstract" xlink:title="Label : TradeAndOtherPayablesAbstract to label_TradeAndOtherPayablesAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfTradeAndOtherPayablesTable" xlink:label="DisclosureOfTradeAndOtherPayablesTable" xlink:title="DisclosureOfTradeAndOtherPayablesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTradeAndOtherPayablesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTradeAndOtherPayablesTable" xml:lang="en-US" id="label_DisclosureOfTradeAndOtherPayablesTable">Disclosure of trade and other payables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeAndOtherPayablesTable" xlink:to="label_DisclosureOfTradeAndOtherPayablesTable" xlink:title="Label : DisclosureOfTradeAndOtherPayablesTable to label_DisclosureOfTradeAndOtherPayablesTable" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaterialsAndServiceSuppliersMember" xlink:to="label_MaterialsAndServiceSuppliersMember" xlink:title="Label : MaterialsAndServiceSuppliersMember to label_MaterialsAndServiceSuppliersMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaterialsAndServiceSuppliersMember" xlink:to="label_MaterialsAndServiceSuppliersMember_1" xlink:title="Label : MaterialsAndServiceSuppliersMember to label_MaterialsAndServiceSuppliersMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaterialsAndServiceSuppliersMember" xlink:to="label_MaterialsAndServiceSuppliersMember_2" xlink:title="Label : MaterialsAndServiceSuppliersMember to label_MaterialsAndServiceSuppliersMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NaturalGasAndTransportationSuppliersMember" xlink:label="NaturalGasAndTransportationSuppliersMember" xlink:title="NaturalGasAndTransportationSuppliersMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelAndLubricantsSuppliersMember" xlink:to="label_FuelAndLubricantsSuppliersMember_1" xlink:title="Label : FuelAndLubricantsSuppliersMember to label_FuelAndLubricantsSuppliersMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTradeAndOtherPayablesLineItems" xlink:to="label_DisclosureOfTradeAndOtherPayablesLineItems" xlink:title="Label : DisclosureOfTradeAndOtherPayablesLineItems to label_DisclosureOfTradeAndOtherPayablesLineItems" />
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    <link:label xlink:type="resource" xlink:label="label_OtherPayables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherPayables_1" xml:lang="en-US" id="label_OtherPayables_1">Other</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PreferredShareHoldersMonetaryVariation_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredShareHoldersMonetaryVariation_2" xml:lang="en-US" id="label_PreferredShareHoldersMonetaryVariation_2">Preferred share holders monetary variation.</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsTable" xlink:to="label_DisclosureOfFinancialInstrumentsTable" xlink:title="Label : DisclosureOfFinancialInstrumentsTable to label_DisclosureOfFinancialInstrumentsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialInstrumentsTable_1" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsTable_1">Disclosure of detailed information about financial instruments [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsTable" xlink:to="label_DisclosureOfFinancialInstrumentsTable_1" xlink:title="Label : DisclosureOfFinancialInstrumentsTable to label_DisclosureOfFinancialInstrumentsTable_1" />
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    <link:label xlink:type="resource" xlink:label="label_HedgedItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgedItemsAxis" xml:lang="en-US" id="label_HedgedItemsAxis">Hedged items [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgedItemsAxis" xlink:to="label_HedgedItemsAxis" xlink:title="Label : HedgedItemsAxis to label_HedgedItemsAxis" />
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    <link:label xlink:type="resource" xlink:label="label_HedgedItemsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgedItemsMember" xml:lang="en-US" id="label_HedgedItemsMember">Hedged items [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgedItemsMember" xlink:to="label_HedgedItemsMember" xlink:title="Label : HedgedItemsMember to label_HedgedItemsMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ElectricityDerivativesMember" xlink:label="ElectricityDerivativesMember" xlink:title="ElectricityDerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_ElectricityDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ElectricityDerivativesMember" xml:lang="en-US" id="label_ElectricityDerivativesMember">Electricity Derivatives [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElectricityDerivativesMember" xlink:to="label_ElectricityDerivativesMember" xlink:title="Label : ElectricityDerivativesMember to label_ElectricityDerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_ElectricityDerivativesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ElectricityDerivativesMember_1" xml:lang="en-US" id="label_ElectricityDerivativesMember_1">Electricity derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElectricityDerivativesMember" xlink:to="label_ElectricityDerivativesMember_1" xlink:title="Label : ElectricityDerivativesMember to label_ElectricityDerivativesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ElectricityDerivativesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ElectricityDerivativesMember_2" xml:lang="en-US" id="label_ElectricityDerivativesMember_2">This member stands for the information pertaining to Electricity derivatives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElectricityDerivativesMember" xlink:to="label_ElectricityDerivativesMember_2" xlink:title="Label : ElectricityDerivativesMember to label_ElectricityDerivativesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExchangeRateDerivativesMember" xlink:label="ExchangeRateDerivativesMember" xlink:title="ExchangeRateDerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeRateDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExchangeRateDerivativesMember" xml:lang="en-US" id="label_ExchangeRateDerivativesMember">Exchange Rate Derivatives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeRateDerivativesMember" xlink:to="label_ExchangeRateDerivativesMember" xlink:title="Label : ExchangeRateDerivativesMember to label_ExchangeRateDerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeRateDerivativesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExchangeRateDerivativesMember_1" xml:lang="en-US" id="label_ExchangeRateDerivativesMember_1">Exchange rate derivatives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeRateDerivativesMember" xlink:to="label_ExchangeRateDerivativesMember_1" xlink:title="Label : ExchangeRateDerivativesMember to label_ExchangeRateDerivativesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeRateDerivativesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExchangeRateDerivativesMember_2" xml:lang="en-US" id="label_ExchangeRateDerivativesMember_2">Exchange rate derivatives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeRateDerivativesMember" xlink:to="label_ExchangeRateDerivativesMember_2" xlink:title="Label : ExchangeRateDerivativesMember to label_ExchangeRateDerivativesMember_2" />
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    <link:label xlink:type="resource" xlink:label="label_InterestRateAndExchangeRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRateAndExchangeRateRiskMember" xml:lang="en-US" id="label_InterestRateAndExchangeRateRiskMember">Interest Rate and Exchange Rate Risk [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateAndExchangeRateRiskMember" xlink:to="label_InterestRateAndExchangeRateRiskMember" xlink:title="Label : InterestRateAndExchangeRateRiskMember to label_InterestRateAndExchangeRateRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateAndExchangeRateRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestRateAndExchangeRateRiskMember_1" xml:lang="en-US" id="label_InterestRateAndExchangeRateRiskMember_1">Interest rate and exchange rate risk</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateAndExchangeRateRiskMember" xlink:to="label_InterestRateAndExchangeRateRiskMember_1" xlink:title="Label : InterestRateAndExchangeRateRiskMember to label_InterestRateAndExchangeRateRiskMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateAndExchangeRateRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestRateAndExchangeRateRiskMember_2" xml:lang="en-US" id="label_InterestRateAndExchangeRateRiskMember_2">This member stands for the information pertaining to Interest rate and exchange rate risk.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateAndExchangeRateRiskMember" xlink:to="label_InterestRateAndExchangeRateRiskMember_2" xlink:title="Label : InterestRateAndExchangeRateRiskMember to label_InterestRateAndExchangeRateRiskMember_2" />
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    <link:label xlink:type="resource" xlink:label="label_ForwardContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForwardContractMember" xml:lang="en-US" id="label_ForwardContractMember">Forward contract [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForwardContractMember" xlink:to="label_ForwardContractMember" xlink:title="Label : ForwardContractMember to label_ForwardContractMember" />
    <link:label xlink:type="resource" xlink:label="label_ForwardContractMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForwardContractMember_1" xml:lang="en-US" id="label_ForwardContractMember_1">Forward agreements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForwardContractMember" xlink:to="label_ForwardContractMember_1" xlink:title="Label : ForwardContractMember to label_ForwardContractMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommodityForwardContractMember" xlink:label="CommodityForwardContractMember" xlink:title="CommodityForwardContractMember" />
    <link:label xlink:type="resource" xlink:label="label_CommodityForwardContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommodityForwardContractMember" xml:lang="en-US" id="label_CommodityForwardContractMember">Commodity Forward Contract [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommodityForwardContractMember" xlink:to="label_CommodityForwardContractMember" xlink:title="Label : CommodityForwardContractMember to label_CommodityForwardContractMember" />
    <link:label xlink:type="resource" xlink:label="label_CommodityForwardContractMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommodityForwardContractMember_1" xml:lang="en-US" id="label_CommodityForwardContractMember_1">Commodity forwards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommodityForwardContractMember" xlink:to="label_CommodityForwardContractMember_1" xlink:title="Label : CommodityForwardContractMember to label_CommodityForwardContractMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommodityForwardContractMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommodityForwardContractMember_2" xml:lang="en-US" id="label_CommodityForwardContractMember_2">This member stands for the information pertaining to Commodity forwards contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommodityForwardContractMember" xlink:to="label_CommodityForwardContractMember_2" xlink:title="Label : CommodityForwardContractMember to label_CommodityForwardContractMember_2" />
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    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InflationAndInterestRateSwapContractMember" xml:lang="en-US" id="label_InflationAndInterestRateSwapContractMember">Inflation and Interest Rate Swap Contract [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapContractMember" xlink:to="label_InflationAndInterestRateSwapContractMember" xlink:title="Label : InflationAndInterestRateSwapContractMember to label_InflationAndInterestRateSwapContractMember" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapContractMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InflationAndInterestRateSwapContractMember_1" xml:lang="en-US" id="label_InflationAndInterestRateSwapContractMember_1">Inflation and interest rate swaps</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapContractMember" xlink:to="label_InflationAndInterestRateSwapContractMember_1" xlink:title="Label : InflationAndInterestRateSwapContractMember to label_InflationAndInterestRateSwapContractMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapContractMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InflationAndInterestRateSwapContractMember_2" xml:lang="en-US" id="label_InflationAndInterestRateSwapContractMember_2">This member stands for the information pertaining to Inflation and interest rate swaps contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapContractMember" xlink:to="label_InflationAndInterestRateSwapContractMember_2" xlink:title="Label : InflationAndInterestRateSwapContractMember to label_InflationAndInterestRateSwapContractMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestRateSwapContractMember" xlink:label="InterestRateSwapContractMember" xlink:title="InterestRateSwapContractMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateSwapContractMember" xlink:to="label_InterestRateSwapContractMember" xlink:title="Label : InterestRateSwapContractMember to label_InterestRateSwapContractMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateSwapContractMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRateSwapContractMember_1" xml:lang="en-US" id="label_InterestRateSwapContractMember_1">Interest rate swap contract [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateSwapContractMember" xlink:to="label_InterestRateSwapContractMember_1" xlink:title="Label : InterestRateSwapContractMember to label_InterestRateSwapContractMember_1" />
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    <link:label xlink:type="resource" xlink:label="label_ExchangeAndInterestRateSwapContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExchangeAndInterestRateSwapContractMember" xml:lang="en-US" id="label_ExchangeAndInterestRateSwapContractMember">Exchange and interest rate swap contract [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeAndInterestRateSwapContractMember" xlink:to="label_ExchangeAndInterestRateSwapContractMember" xlink:title="Label : ExchangeAndInterestRateSwapContractMember to label_ExchangeAndInterestRateSwapContractMember" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeAndInterestRateSwapContractMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExchangeAndInterestRateSwapContractMember_1" xml:lang="en-US" id="label_ExchangeAndInterestRateSwapContractMember_1">Exchange and interest rate [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeAndInterestRateSwapContractMember" xlink:to="label_ExchangeAndInterestRateSwapContractMember_1" xlink:title="Label : ExchangeAndInterestRateSwapContractMember to label_ExchangeAndInterestRateSwapContractMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeAndInterestRateSwapContractMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExchangeAndInterestRateSwapContractMember_2" xml:lang="en-US" id="label_ExchangeAndInterestRateSwapContractMember_2">Exchange and interest rate swap contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeAndInterestRateSwapContractMember" xlink:to="label_ExchangeAndInterestRateSwapContractMember_2" xlink:title="Label : ExchangeAndInterestRateSwapContractMember to label_ExchangeAndInterestRateSwapContractMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MeasurementAxis" xlink:label="MeasurementAxis" xlink:title="MeasurementAxis" />
    <link:label xlink:type="resource" xlink:label="label_MeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MeasurementAxis" xml:lang="en-US" id="label_MeasurementAxis">Measurement [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeasurementAxis" xlink:to="label_MeasurementAxis" xlink:title="Label : MeasurementAxis to label_MeasurementAxis" />
    <link:label xlink:type="resource" xlink:label="label_MeasurementAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MeasurementAxis_1" xml:lang="en-US" id="label_MeasurementAxis_1">Measurement [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeasurementAxis" xlink:to="label_MeasurementAxis_1" xlink:title="Label : MeasurementAxis to label_MeasurementAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="AggregatedMeasurementMember" xlink:title="AggregatedMeasurementMember" />
    <link:label xlink:type="resource" xlink:label="label_AggregatedMeasurementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AggregatedMeasurementMember" xml:lang="en-US" id="label_AggregatedMeasurementMember">Aggregated measurement [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedMeasurementMember" xlink:to="label_AggregatedMeasurementMember" xlink:title="Label : AggregatedMeasurementMember to label_AggregatedMeasurementMember" />
    <link:label xlink:type="resource" xlink:label="label_AggregatedMeasurementMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AggregatedMeasurementMember_1" xml:lang="en-US" id="label_AggregatedMeasurementMember_1">Aggregated measurement [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatedMeasurementMember" xlink:to="label_AggregatedMeasurementMember_1" xlink:title="Label : AggregatedMeasurementMember to label_AggregatedMeasurementMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AtFairValueMember" xlink:label="AtFairValueMember" xlink:title="AtFairValueMember" />
    <link:label xlink:type="resource" xlink:label="label_AtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AtFairValueMember" xml:lang="en-US" id="label_AtFairValueMember">At fair value [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtFairValueMember" xlink:to="label_AtFairValueMember" xlink:title="Label : AtFairValueMember to label_AtFairValueMember" />
    <link:label xlink:type="resource" xlink:label="label_AtFairValueMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AtFairValueMember_1" xml:lang="en-US" id="label_AtFairValueMember_1">Fair value [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtFairValueMember" xlink:to="label_AtFairValueMember_1" xlink:title="Label : AtFairValueMember to label_AtFairValueMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialInstrumentsLineItems" xlink:label="DisclosureOfFinancialInstrumentsLineItems" xlink:title="DisclosureOfFinancialInstrumentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialInstrumentsLineItems" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsLineItems">Disclosure of detailed information about financial instruments [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="label_DisclosureOfFinancialInstrumentsLineItems" xlink:title="Label : DisclosureOfFinancialInstrumentsLineItems to label_DisclosureOfFinancialInstrumentsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialInstrumentsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFinancialInstrumentsLineItems_1" xml:lang="en-US" id="label_DisclosureOfFinancialInstrumentsLineItems_1">Disclosure of detailed information about financial instruments [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialInstrumentsLineItems" xlink:to="label_DisclosureOfFinancialInstrumentsLineItems_1" xlink:title="Label : DisclosureOfFinancialInstrumentsLineItems to label_DisclosureOfFinancialInstrumentsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DerivativeFinancialInstruments" xlink:label="DerivativeFinancialInstruments" xlink:title="DerivativeFinancialInstruments" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialInstruments" xml:lang="en-US" id="label_DerivativeFinancialInstruments">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstruments" xlink:to="label_DerivativeFinancialInstruments" xlink:title="Label : DerivativeFinancialInstruments to label_DerivativeFinancialInstruments" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstruments_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialInstruments_1" xml:lang="en-US" id="label_DerivativeFinancialInstruments_1">Total financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstruments" xlink:to="label_DerivativeFinancialInstruments_1" xlink:title="Label : DerivativeFinancialInstruments to label_DerivativeFinancialInstruments_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstruments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DerivativeFinancialInstruments_2" xml:lang="en-US" id="label_DerivativeFinancialInstruments_2">The amount of derivative financial assets (liabilities).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstruments" xlink:to="label_DerivativeFinancialInstruments_2" xlink:title="Label : DerivativeFinancialInstruments to label_DerivativeFinancialInstruments_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NotionalAmount" xlink:label="NotionalAmount" xlink:title="NotionalAmount" />
    <link:label xlink:type="resource" xlink:label="label_NotionalAmount" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NotionalAmount" xml:lang="en-US" id="label_NotionalAmount">Notional amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotionalAmount" xlink:to="label_NotionalAmount" xlink:title="Label : NotionalAmount to label_NotionalAmount" />
    <link:label xlink:type="resource" xlink:label="label_NotionalAmount_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotionalAmount_1" xml:lang="en-US" id="label_NotionalAmount_1">Notional amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotionalAmount" xlink:to="label_NotionalAmount_1" xlink:title="Label : NotionalAmount to label_NotionalAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_NotionalAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotionalAmount_2" xml:lang="en-US" id="label_NotionalAmount_2">Notional</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotionalAmount" xlink:to="label_NotionalAmount_2" xlink:title="Label : NotionalAmount to label_NotionalAmount_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FairValueOfDerivativeFinancialAssetsLiability" xlink:label="FairValueOfDerivativeFinancialAssetsLiability" xlink:title="FairValueOfDerivativeFinancialAssetsLiability" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfDerivativeFinancialAssetsLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FairValueOfDerivativeFinancialAssetsLiability" xml:lang="en-US" id="label_FairValueOfDerivativeFinancialAssetsLiability">The amount of fair value of derivative financial assets (liabilities).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfDerivativeFinancialAssetsLiability" xlink:to="label_FairValueOfDerivativeFinancialAssetsLiability" xlink:title="Label : FairValueOfDerivativeFinancialAssetsLiability to label_FairValueOfDerivativeFinancialAssetsLiability" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfDerivativeFinancialAssetsLiability_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueOfDerivativeFinancialAssetsLiability_1" xml:lang="en-US" id="label_FairValueOfDerivativeFinancialAssetsLiability_1">Fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfDerivativeFinancialAssetsLiability" xlink:to="label_FairValueOfDerivativeFinancialAssetsLiability_1" xlink:title="Label : FairValueOfDerivativeFinancialAssetsLiability to label_FairValueOfDerivativeFinancialAssetsLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_FairValueOfDerivativeFinancialAssetsLiability_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueOfDerivativeFinancialAssetsLiability_2" xml:lang="en-US" id="label_FairValueOfDerivativeFinancialAssetsLiability_2">Fair Value Of Derivative Financial Assets (Liability)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueOfDerivativeFinancialAssetsLiability" xlink:to="label_FairValueOfDerivativeFinancialAssetsLiability_2" xlink:title="Label : FairValueOfDerivativeFinancialAssetsLiability to label_FairValueOfDerivativeFinancialAssetsLiability_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:label="DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:title="DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xml:lang="en-US" id="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable">Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:to="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:title="Label : DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable to label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_1" xml:lang="en-US" id="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_1">Disclosure Of Foreign Currency Related Hedging Instruments And Interest Rate Swaps [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:to="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_1" xlink:title="Label : DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable to label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_2" xml:lang="en-US" id="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_2">Disclosure of foreign currency related hedging instruments and interest rate swaps.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" xlink:to="label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_2" xlink:title="Label : DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable to label_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_HedgingDesignation1Axis" xlink:label="HedgingDesignation1Axis" xlink:title="HedgingDesignation1Axis" />
    <link:label xlink:type="resource" xlink:label="label_HedgingDesignation1Axis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgingDesignation1Axis" xml:lang="en-US" id="label_HedgingDesignation1Axis">Hedging Designation 1 [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingDesignation1Axis" xlink:to="label_HedgingDesignation1Axis" xlink:title="Label : HedgingDesignation1Axis to label_HedgingDesignation1Axis" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_HedgingDesignation1Domain" xlink:label="HedgingDesignation1Domain" xlink:title="HedgingDesignation1Domain" />
    <link:label xlink:type="resource" xlink:label="label_HedgingDesignation1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HedgingDesignation1Domain" xml:lang="en-US" id="label_HedgingDesignation1Domain">Hedging Designation1 [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HedgingDesignation1Domain" xlink:to="label_HedgingDesignation1Domain" xlink:title="Label : HedgingDesignation1Domain to label_HedgingDesignation1Domain" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DesignatedAsHedgingInstrumentsMember" xlink:label="DesignatedAsHedgingInstrumentsMember" xlink:title="DesignatedAsHedgingInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_DesignatedAsHedgingInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DesignatedAsHedgingInstrumentsMember" xml:lang="en-US" id="label_DesignatedAsHedgingInstrumentsMember">Designated as Hedging Instruments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DesignatedAsHedgingInstrumentsMember" xlink:to="label_DesignatedAsHedgingInstrumentsMember" xlink:title="Label : DesignatedAsHedgingInstrumentsMember to label_DesignatedAsHedgingInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_DesignatedAsHedgingInstrumentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DesignatedAsHedgingInstrumentsMember_1" xml:lang="en-US" id="label_DesignatedAsHedgingInstrumentsMember_1">Designated as Hedging Instruments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DesignatedAsHedgingInstrumentsMember" xlink:to="label_DesignatedAsHedgingInstrumentsMember_1" xlink:title="Label : DesignatedAsHedgingInstrumentsMember to label_DesignatedAsHedgingInstrumentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebenturesThirdIssueThirdSeriesMember" xlink:label="DebenturesThirdIssueThirdSeriesMember" xlink:title="DebenturesThirdIssueThirdSeriesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesThirdIssueThirdSeriesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesThirdIssueThirdSeriesMember" xml:lang="en-US" id="label_DebenturesThirdIssueThirdSeriesMember">Debentures third issue third series.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesThirdIssueThirdSeriesMember" xlink:to="label_DebenturesThirdIssueThirdSeriesMember" xlink:title="Label : DebenturesThirdIssueThirdSeriesMember to label_DebenturesThirdIssueThirdSeriesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesThirdIssueThirdSeriesMember_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DebenturesThirdIssueThirdSeriesMember_1" xml:lang="en-US" id="label_DebenturesThirdIssueThirdSeriesMember_1">Debenture 3rd issue - 3rd series [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesThirdIssueThirdSeriesMember" xlink:to="label_DebenturesThirdIssueThirdSeriesMember_1" xlink:title="Label : DebenturesThirdIssueThirdSeriesMember to label_DebenturesThirdIssueThirdSeriesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesThirdIssueThirdSeriesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebenturesThirdIssueThirdSeriesMember_2" xml:lang="en-US" id="label_DebenturesThirdIssueThirdSeriesMember_2">Debentures Third Issue Third Series [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesThirdIssueThirdSeriesMember" xlink:to="label_DebenturesThirdIssueThirdSeriesMember_2" xlink:title="Label : DebenturesThirdIssueThirdSeriesMember to label_DebenturesThirdIssueThirdSeriesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesThirdIssueThirdSeriesMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebenturesThirdIssueThirdSeriesMember_3" xml:lang="en-US" id="label_DebenturesThirdIssueThirdSeriesMember_3">Debenture 3rd issue - 3rd series</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesThirdIssueThirdSeriesMember" xlink:to="label_DebenturesThirdIssueThirdSeriesMember_3" xlink:title="Label : DebenturesThirdIssueThirdSeriesMember to label_DebenturesThirdIssueThirdSeriesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebenturesFifthIssueSingleSeriesMember" xlink:label="DebenturesFifthIssueSingleSeriesMember" xlink:title="DebenturesFifthIssueSingleSeriesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFifthIssueSingleSeriesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesFifthIssueSingleSeriesMember" xml:lang="en-US" id="label_DebenturesFifthIssueSingleSeriesMember">Debentures fifth issue single series.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFifthIssueSingleSeriesMember" xlink:to="label_DebenturesFifthIssueSingleSeriesMember" xlink:title="Label : DebenturesFifthIssueSingleSeriesMember to label_DebenturesFifthIssueSingleSeriesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFifthIssueSingleSeriesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebenturesFifthIssueSingleSeriesMember_1" xml:lang="en-US" id="label_DebenturesFifthIssueSingleSeriesMember_1">Debenture 5th issue - single series</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFifthIssueSingleSeriesMember" xlink:to="label_DebenturesFifthIssueSingleSeriesMember_1" xlink:title="Label : DebenturesFifthIssueSingleSeriesMember to label_DebenturesFifthIssueSingleSeriesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFifthIssueSingleSeriesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebenturesFifthIssueSingleSeriesMember_2" xml:lang="en-US" id="label_DebenturesFifthIssueSingleSeriesMember_2">Debentures Fifth Issue Single Series [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFifthIssueSingleSeriesMember" xlink:to="label_DebenturesFifthIssueSingleSeriesMember_2" xlink:title="Label : DebenturesFifthIssueSingleSeriesMember to label_DebenturesFifthIssueSingleSeriesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesFifthIssueSingleSeriesMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DebenturesFifthIssueSingleSeriesMember_3" xml:lang="en-US" id="label_DebenturesFifthIssueSingleSeriesMember_3">Debenture 5th issue - single series [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesFifthIssueSingleSeriesMember" xlink:to="label_DebenturesFifthIssueSingleSeriesMember_3" xlink:title="Label : DebenturesFifthIssueSingleSeriesMember to label_DebenturesFifthIssueSingleSeriesMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorSwapsNotesDue2023Member" xlink:label="SeniorSwapsNotesDue2023Member" xlink:title="SeniorSwapsNotesDue2023Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorSwapsNotesDue2023Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorSwapsNotesDue2023Member" xml:lang="en-US" id="label_SeniorSwapsNotesDue2023Member">Senior Swaps Notes Due 2023[Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSwapsNotesDue2023Member" xlink:to="label_SeniorSwapsNotesDue2023Member" xlink:title="Label : SeniorSwapsNotesDue2023Member to label_SeniorSwapsNotesDue2023Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorSwapsNotesDue2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorSwapsNotesDue2023Member_1" xml:lang="en-US" id="label_SeniorSwapsNotesDue2023Member_1">Senior swaps notes due 2023</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:label="AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:title="AccumulatedFairValueHedgeAdjustmentOfBorrowings" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOfBorrowings to label_AccumulatedFairValueHedgeAdjustmentOfBorrowings" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_1" xml:lang="en-US" id="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_1">The accumulated amount of fair value hedge adjustment on loans, financing and debentures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_1" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOfBorrowings to label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_1" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_2" xml:lang="en-US" id="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_2">Accumulated fair value adjustment of Loans, financing and debentures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_2" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOfBorrowings to label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CreditDerivativeNominalAmount" xlink:label="CreditDerivativeNominalAmount" xlink:title="CreditDerivativeNominalAmount" />
    <link:label xlink:type="resource" xlink:label="label_CreditDerivativeNominalAmount" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CreditDerivativeNominalAmount" xml:lang="en-US" id="label_CreditDerivativeNominalAmount">Notional amount of derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditDerivativeNominalAmount" xlink:to="label_CreditDerivativeNominalAmount" xlink:title="Label : CreditDerivativeNominalAmount to label_CreditDerivativeNominalAmount" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditDerivativeNominalAmount" xlink:to="label_CreditDerivativeNominalAmount_1" xlink:title="Label : CreditDerivativeNominalAmount to label_CreditDerivativeNominalAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_CreditDerivativeNominalAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditDerivativeNominalAmount_2" xml:lang="en-US" id="label_CreditDerivativeNominalAmount_2">Notional amount of derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditDerivativeNominalAmount" xlink:to="label_CreditDerivativeNominalAmount_2" xlink:title="Label : CreditDerivativeNominalAmount to label_CreditDerivativeNominalAmount_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_HedgingInstrumentAssets" xlink:label="HedgingInstrumentAssets" xlink:title="HedgingInstrumentAssets" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment" xlink:to="label_DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment_2" xlink:title="Label : DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment to label_DerivativeHedgingInstrumentsAccumulatedFairValueAdjustment_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCurrencyAndInterestRateInstruments" xlink:to="label_NetCurrencyAndInterestRateInstruments" xlink:title="Label : NetCurrencyAndInterestRateInstruments to label_NetCurrencyAndInterestRateInstruments" />
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    <link:label xlink:type="resource" xlink:label="label_NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments_1" xml:lang="en-US" id="label_NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments_1">The net accumulated amount of fair value hedge adjustment on currency and interest rate instruments.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandTwentyThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDueTwoThousandTwentyThreeMember" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandTwentyThreeMember">Senior Notes Due 2023 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandTwentyThreeMember" xlink:to="label_SeniorNotesDueTwoThousandTwentyThreeMember" xlink:title="Label : SeniorNotesDueTwoThousandTwentyThreeMember to label_SeniorNotesDueTwoThousandTwentyThreeMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandTwentyThreeMember" xlink:to="label_SeniorNotesDueTwoThousandTwentyThreeMember_1" xlink:title="Label : SeniorNotesDueTwoThousandTwentyThreeMember to label_SeniorNotesDueTwoThousandTwentyThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandTwentyThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDueTwoThousandTwentyThreeMember_2" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandTwentyThreeMember_2">Senior notes due 2023 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandTwentyThreeMember" xlink:to="label_SeniorNotesDueTwoThousandTwentyThreeMember_2" xlink:title="Label : SeniorNotesDueTwoThousandTwentyThreeMember to label_SeniorNotesDueTwoThousandTwentyThreeMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandTwentyThreeMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDueTwoThousandTwentyThreeMember_3" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandTwentyThreeMember_3">Senior notes due 2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandTwentyThreeMember" xlink:to="label_SeniorNotesDueTwoThousandTwentyThreeMember_3" xlink:title="Label : SeniorNotesDueTwoThousandTwentyThreeMember to label_SeniorNotesDueTwoThousandTwentyThreeMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:label="SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:title="SeniorNotesDueTwoThousandAndTwentyFourMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourMember" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourMember">Senior notes due two thousand and twenty four [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourMember to label_SeniorNotesDueTwoThousandAndTwentyFourMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourMember_1" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourMember_1">Senior notes due 2024 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourMember_1" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourMember to label_SeniorNotesDueTwoThousandAndTwentyFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourMember_2" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourMember_2">Senior Notes 2024 (Rumo) [mrember]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourMember_2" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourMember to label_SeniorNotesDueTwoThousandAndTwentyFourMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourMember_3" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourMember_3">Senior notes due 2024.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourMember_3" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourMember to label_SeniorNotesDueTwoThousandAndTwentyFourMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:label="SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:title="SeniorNotesDueTwoThousandAndTwentyFourOneMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember">Senior notes due two thousand and twenty four one [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourOneMember to label_SeniorNotesDueTwoThousandAndTwentyFourOneMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_1" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_1">Senior Notes 2024 (Cosan) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_1" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourOneMember to label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_2" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_2" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_2">Senior Swaps Notes 2024 (Cosan) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_2" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourOneMember to label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_3" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_3">Senior notes due 2024 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_3" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourOneMember to label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_3" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_4" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_4">Senior notes due two thousand and twenty four one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFourOneMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_4" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFourOneMember to label_SeniorNotesDueTwoThousandAndTwentyFourOneMember_4" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:label="SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:title="SeniorNotesDueTwoThousandAndTwentyFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFiveMember" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFiveMember">Senior notes due two thousand and twenty five [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFiveMember to label_SeniorNotesDueTwoThousandAndTwentyFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_1" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_1">Senior notes due 2025[member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_1" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFiveMember to label_SeniorNotesDueTwoThousandAndTwentyFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_2" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_2">Senior Notes 2025 (Rumo) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_2" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFiveMember to label_SeniorNotesDueTwoThousandAndTwentyFiveMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_3" xml:lang="en-US" id="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_3">Senior notes due two thousand and twenty five.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoThousandAndTwentyFiveMember" xlink:to="label_SeniorNotesDueTwoThousandAndTwentyFiveMember_3" xlink:title="Label : SeniorNotesDueTwoThousandAndTwentyFiveMember to label_SeniorNotesDueTwoThousandAndTwentyFiveMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorNotesDueTwoZeroTwoSevenMember" xlink:label="SeniorNotesDueTwoZeroTwoSevenMember" xlink:title="SeniorNotesDueTwoZeroTwoSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoZeroTwoSevenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorNotesDueTwoZeroTwoSevenMember" xml:lang="en-US" id="label_SeniorNotesDueTwoZeroTwoSevenMember">Senior Notes Due 2027 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoZeroTwoSevenMember" xlink:to="label_SeniorNotesDueTwoZeroTwoSevenMember" xlink:title="Label : SeniorNotesDueTwoZeroTwoSevenMember to label_SeniorNotesDueTwoZeroTwoSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoZeroTwoSevenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorNotesDueTwoZeroTwoSevenMember_1" xml:lang="en-US" id="label_SeniorNotesDueTwoZeroTwoSevenMember_1">Senior notes due 2027 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoZeroTwoSevenMember" xlink:to="label_SeniorNotesDueTwoZeroTwoSevenMember_1" xlink:title="Label : SeniorNotesDueTwoZeroTwoSevenMember to label_SeniorNotesDueTwoZeroTwoSevenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorNotesDueTwoZeroTwoSevenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorNotesDueTwoZeroTwoSevenMember_2" xml:lang="en-US" id="label_SeniorNotesDueTwoZeroTwoSevenMember_2">Senior notes due 2027.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorNotesDueTwoZeroTwoSevenMember" xlink:to="label_SeniorNotesDueTwoZeroTwoSevenMember_2" xlink:title="Label : SeniorNotesDueTwoZeroTwoSevenMember to label_SeniorNotesDueTwoZeroTwoSevenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebtInstrumentQuotedMarketPricePercentage" xlink:label="DebtInstrumentQuotedMarketPricePercentage" xlink:title="DebtInstrumentQuotedMarketPricePercentage" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentQuotedMarketPricePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtInstrumentQuotedMarketPricePercentage" xml:lang="en-US" id="label_DebtInstrumentQuotedMarketPricePercentage">The percentage of quoted market price of debt instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentQuotedMarketPricePercentage" xlink:to="label_DebtInstrumentQuotedMarketPricePercentage" xlink:title="Label : DebtInstrumentQuotedMarketPricePercentage to label_DebtInstrumentQuotedMarketPricePercentage" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentQuotedMarketPricePercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtInstrumentQuotedMarketPricePercentage_1" xml:lang="en-US" id="label_DebtInstrumentQuotedMarketPricePercentage_1">Senior Notes, quoted market price percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentQuotedMarketPricePercentage" xlink:to="label_DebtInstrumentQuotedMarketPricePercentage_1" xlink:title="Label : DebtInstrumentQuotedMarketPricePercentage to label_DebtInstrumentQuotedMarketPricePercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_DebtInstrumentQuotedMarketPricePercentage_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtInstrumentQuotedMarketPricePercentage_2" xml:lang="en-US" id="label_DebtInstrumentQuotedMarketPricePercentage_2">Debt Instrument, quoted market price, percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentQuotedMarketPricePercentage" xlink:to="label_DebtInstrumentQuotedMarketPricePercentage_2" xlink:title="Label : DebtInstrumentQuotedMarketPricePercentage to label_DebtInstrumentQuotedMarketPricePercentage_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="LevelsOfFairValueHierarchyAxis" xlink:title="LevelsOfFairValueHierarchyAxis" />
    <link:label xlink:type="resource" xlink:label="label_LevelsOfFairValueHierarchyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LevelsOfFairValueHierarchyAxis" xml:lang="en-US" id="label_LevelsOfFairValueHierarchyAxis">Levels of fair value hierarchy [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="label_LevelsOfFairValueHierarchyAxis" xlink:title="Label : LevelsOfFairValueHierarchyAxis to label_LevelsOfFairValueHierarchyAxis" />
    <link:label xlink:type="resource" xlink:label="label_LevelsOfFairValueHierarchyAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LevelsOfFairValueHierarchyAxis_1" xml:lang="en-US" id="label_LevelsOfFairValueHierarchyAxis_1">Levels of fair value hierarchy [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LevelsOfFairValueHierarchyAxis" xlink:to="label_LevelsOfFairValueHierarchyAxis_1" xlink:title="Label : LevelsOfFairValueHierarchyAxis to label_LevelsOfFairValueHierarchyAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="AllLevelsOfFairValueHierarchyMember" xlink:title="AllLevelsOfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_AllLevelsOfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllLevelsOfFairValueHierarchyMember" xml:lang="en-US" id="label_AllLevelsOfFairValueHierarchyMember">All levels of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="label_AllLevelsOfFairValueHierarchyMember" xlink:title="Label : AllLevelsOfFairValueHierarchyMember to label_AllLevelsOfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_AllLevelsOfFairValueHierarchyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllLevelsOfFairValueHierarchyMember_1" xml:lang="en-US" id="label_AllLevelsOfFairValueHierarchyMember_1">All levels of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllLevelsOfFairValueHierarchyMember" xlink:to="label_AllLevelsOfFairValueHierarchyMember_1" xlink:title="Label : AllLevelsOfFairValueHierarchyMember to label_AllLevelsOfFairValueHierarchyMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="Level1OfFairValueHierarchyMember" xlink:title="Level1OfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_Level1OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Level1OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level1OfFairValueHierarchyMember">Level 1 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level1OfFairValueHierarchyMember" xlink:to="label_Level1OfFairValueHierarchyMember" xlink:title="Label : Level1OfFairValueHierarchyMember to label_Level1OfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_Level1OfFairValueHierarchyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Level1OfFairValueHierarchyMember_1" xml:lang="en-US" id="label_Level1OfFairValueHierarchyMember_1">Level 1 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level1OfFairValueHierarchyMember" xlink:to="label_Level1OfFairValueHierarchyMember_1" xlink:title="Label : Level1OfFairValueHierarchyMember to label_Level1OfFairValueHierarchyMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="Level2OfFairValueHierarchyMember" xlink:title="Level2OfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_Level2OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Level2OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level2OfFairValueHierarchyMember">Level 2 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level2OfFairValueHierarchyMember" xlink:to="label_Level2OfFairValueHierarchyMember" xlink:title="Label : Level2OfFairValueHierarchyMember to label_Level2OfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_Level2OfFairValueHierarchyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Level2OfFairValueHierarchyMember_1" xml:lang="en-US" id="label_Level2OfFairValueHierarchyMember_1">Level 2 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level2OfFairValueHierarchyMember" xlink:to="label_Level2OfFairValueHierarchyMember_1" xlink:title="Label : Level2OfFairValueHierarchyMember to label_Level2OfFairValueHierarchyMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="Level3OfFairValueHierarchyMember" xlink:title="Level3OfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Level3OfFairValueHierarchyMember" xml:lang="en-US" id="label_Level3OfFairValueHierarchyMember">Level 3 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level3OfFairValueHierarchyMember" xlink:to="label_Level3OfFairValueHierarchyMember" xlink:title="Label : Level3OfFairValueHierarchyMember to label_Level3OfFairValueHierarchyMember" />
    <link:label xlink:type="resource" xlink:label="label_Level3OfFairValueHierarchyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Level3OfFairValueHierarchyMember_1" xml:lang="en-US" id="label_Level3OfFairValueHierarchyMember_1">Level 3 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Level3OfFairValueHierarchyMember" xlink:to="label_Level3OfFairValueHierarchyMember_1" xlink:title="Label : Level3OfFairValueHierarchyMember to label_Level3OfFairValueHierarchyMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentFundMember" xlink:label="InvestmentFundMember" xlink:title="InvestmentFundMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentFundMember" xml:lang="en-US" id="label_InvestmentFundMember">Investment fund [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundMember" xlink:to="label_InvestmentFundMember" xlink:title="Label : InvestmentFundMember to label_InvestmentFundMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentFundMember_1" xml:lang="en-US" id="label_InvestmentFundMember_1">Investment fund [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundMember" xlink:to="label_InvestmentFundMember_1" xlink:title="Label : InvestmentFundMember to label_InvestmentFundMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentFundMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentFundMember_2" xml:lang="en-US" id="label_InvestmentFundMember_2">Investment fund.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentFundMember" xlink:to="label_InvestmentFundMember_2" xlink:title="Label : InvestmentFundMember to label_InvestmentFundMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DerivativeFinancialInstrumentsMember" xlink:label="DerivativeFinancialInstrumentsMember" xlink:title="DerivativeFinancialInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DerivativeFinancialInstrumentsMember" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsMember">This member stands for information pertaining to derivative financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsMember" xlink:to="label_DerivativeFinancialInstrumentsMember" xlink:title="Label : DerivativeFinancialInstrumentsMember to label_DerivativeFinancialInstrumentsMember" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsMember_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DerivativeFinancialInstrumentsMember_1" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsMember_1">Derivative financial instruments (notional) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsMember" xlink:to="label_DerivativeFinancialInstrumentsMember_1" xlink:title="Label : DerivativeFinancialInstrumentsMember to label_DerivativeFinancialInstrumentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialInstrumentsMember_2" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsMember_2">Derivative financial instruments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsMember" xlink:to="label_DerivativeFinancialInstrumentsMember_2" xlink:title="Label : DerivativeFinancialInstrumentsMember to label_DerivativeFinancialInstrumentsMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsMember_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialInstrumentsMember_3" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsMember_3">Derivative Financial Instruments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsMember" xlink:to="label_DerivativeFinancialInstrumentsMember_3" xlink:title="Label : DerivativeFinancialInstrumentsMember to label_DerivativeFinancialInstrumentsMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherFinancialAssetsMember" xlink:label="OtherFinancialAssetsMember" xlink:title="OtherFinancialAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinancialAssetsMember" xml:lang="en-US" id="label_OtherFinancialAssetsMember">Other Financial Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetsMember" xlink:to="label_OtherFinancialAssetsMember" xlink:title="Label : OtherFinancialAssetsMember to label_OtherFinancialAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherFinancialAssetsMember_1" xml:lang="en-US" id="label_OtherFinancialAssetsMember_1">Other financial assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetsMember" xlink:to="label_OtherFinancialAssetsMember_1" xlink:title="Label : OtherFinancialAssetsMember to label_OtherFinancialAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherFinancialAssetsMember_2" xml:lang="en-US" id="label_OtherFinancialAssetsMember_2">Other financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetsMember" xlink:to="label_OtherFinancialAssetsMember_2" xlink:title="Label : OtherFinancialAssetsMember to label_OtherFinancialAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFairValueOfPlanAssetsTable" xlink:label="DisclosureOfFairValueOfPlanAssetsTable" xlink:title="DisclosureOfFairValueOfPlanAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFairValueOfPlanAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueOfPlanAssetsTable" xml:lang="en-US" id="label_DisclosureOfFairValueOfPlanAssetsTable">Disclosure of fair value of plan assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueOfPlanAssetsTable" xlink:to="label_DisclosureOfFairValueOfPlanAssetsTable" xlink:title="Label : DisclosureOfFairValueOfPlanAssetsTable to label_DisclosureOfFairValueOfPlanAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFairValueOfPlanAssetsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFairValueOfPlanAssetsTable_1" xml:lang="en-US" id="label_DisclosureOfFairValueOfPlanAssetsTable_1">Disclosure of fair value of plan assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueOfPlanAssetsTable" xlink:to="label_DisclosureOfFairValueOfPlanAssetsTable_1" xlink:title="Label : DisclosureOfFairValueOfPlanAssetsTable to label_DisclosureOfFairValueOfPlanAssetsTable_1" />
    <link:label xlink:type="resource" xlink:label="label_EarningsBeforeInterestTaxDepreciationAndAmortization_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_EarningsBeforeInterestTaxDepreciationAndAmortization_3" xml:lang="en-US" id="label_EarningsBeforeInterestTaxDepreciationAndAmortization_3">EBITDA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsBeforeInterestTaxDepreciationAndAmortization" xlink:to="label_EarningsBeforeInterestTaxDepreciationAndAmortization_3" xlink:title="Label : EarningsBeforeInterestTaxDepreciationAndAmortization to label_EarningsBeforeInterestTaxDepreciationAndAmortization_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialAssetsAbstract" xlink:label="DisclosureOfFinancialAssetsAbstract" xlink:title="DisclosureOfFinancialAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFinancialAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFinancialAssetsAbstract" xml:lang="en-US" id="label_DisclosureOfFinancialAssetsAbstract">Disclosure of financial assets [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFinancialAssetsAbstract" xlink:to="label_DisclosureOfFinancialAssetsAbstract" xlink:title="Label : DisclosureOfFinancialAssetsAbstract to label_DisclosureOfFinancialAssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="TypesOfRisksAxis" xlink:title="TypesOfRisksAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfRisksAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfRisksAxis" xml:lang="en-US" id="label_TypesOfRisksAxis">Types of risks [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksAxis" xlink:to="label_TypesOfRisksAxis" xlink:title="Label : TypesOfRisksAxis to label_TypesOfRisksAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfRisksAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TypesOfRisksAxis_1" xml:lang="en-US" id="label_TypesOfRisksAxis_1">Types of risks [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksAxis" xlink:to="label_TypesOfRisksAxis_1" xlink:title="Label : TypesOfRisksAxis to label_TypesOfRisksAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfRisksMember" xlink:label="TypesOfRisksMember" xlink:title="TypesOfRisksMember" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfRisksMember" xml:lang="en-US" id="label_TypesOfRisksMember">Risks [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksMember" xlink:to="label_TypesOfRisksMember" xlink:title="Label : TypesOfRisksMember to label_TypesOfRisksMember" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfRisksMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TypesOfRisksMember_1" xml:lang="en-US" id="label_TypesOfRisksMember_1">Risks [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfRisksMember" xlink:to="label_TypesOfRisksMember_1" xlink:title="Label : TypesOfRisksMember to label_TypesOfRisksMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrencyRiskMember" xlink:label="CurrencyRiskMember" xlink:title="CurrencyRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrencyRiskMember" xml:lang="en-US" id="label_CurrencyRiskMember">Currency risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyRiskMember" xlink:to="label_CurrencyRiskMember" xlink:title="Label : CurrencyRiskMember to label_CurrencyRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_CurrencyRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrencyRiskMember_1" xml:lang="en-US" id="label_CurrencyRiskMember_1">Currency risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencyRiskMember" xlink:to="label_CurrencyRiskMember_1" xlink:title="Label : CurrencyRiskMember to label_CurrencyRiskMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestRateRiskMember" xlink:label="InterestRateRiskMember" xlink:title="InterestRateRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestRateRiskMember" xml:lang="en-US" id="label_InterestRateRiskMember">Interest rate risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateRiskMember" xlink:to="label_InterestRateRiskMember" xlink:title="Label : InterestRateRiskMember to label_InterestRateRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestRateRiskMember_1" xml:lang="en-US" id="label_InterestRateRiskMember_1">Interest rate risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateRiskMember" xlink:to="label_InterestRateRiskMember_1" xlink:title="Label : InterestRateRiskMember to label_InterestRateRiskMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherPriceRiskMember" xlink:label="OtherPriceRiskMember" xlink:title="OtherPriceRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherPriceRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherPriceRiskMember" xml:lang="en-US" id="label_OtherPriceRiskMember">Prices risk [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPriceRiskMember" xlink:to="label_OtherPriceRiskMember" xlink:title="Label : OtherPriceRiskMember to label_OtherPriceRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherPriceRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherPriceRiskMember_1" xml:lang="en-US" id="label_OtherPriceRiskMember_1">Other price risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPriceRiskMember" xlink:to="label_OtherPriceRiskMember_1" xlink:title="Label : OtherPriceRiskMember to label_OtherPriceRiskMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherPriceRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherPriceRiskMember_2" xml:lang="en-US" id="label_OtherPriceRiskMember_2">Market risk - prices [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPriceRiskMember" xlink:to="label_OtherPriceRiskMember_2" xlink:title="Label : OtherPriceRiskMember to label_OtherPriceRiskMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CreditRiskMember" xlink:label="CreditRiskMember" xlink:title="CreditRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_CreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditRiskMember" xml:lang="en-US" id="label_CreditRiskMember">Credit risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRiskMember" xlink:to="label_CreditRiskMember" xlink:title="Label : CreditRiskMember to label_CreditRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_CreditRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditRiskMember_1" xml:lang="en-US" id="label_CreditRiskMember_1">Credit risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRiskMember" xlink:to="label_CreditRiskMember_1" xlink:title="Label : CreditRiskMember to label_CreditRiskMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiquidityRiskMember" xlink:label="LiquidityRiskMember" xlink:title="LiquidityRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiquidityRiskMember" xml:lang="en-US" id="label_LiquidityRiskMember">Liquidity risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidityRiskMember" xlink:to="label_LiquidityRiskMember" xlink:title="Label : LiquidityRiskMember to label_LiquidityRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_LiquidityRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiquidityRiskMember_1" xml:lang="en-US" id="label_LiquidityRiskMember_1">Liquidity risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidityRiskMember" xlink:to="label_LiquidityRiskMember_1" xlink:title="Label : LiquidityRiskMember to label_LiquidityRiskMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ConcentrationsOfRiskAxis" xlink:label="ConcentrationsOfRiskAxis" xlink:title="ConcentrationsOfRiskAxis" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationsOfRiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationsOfRiskAxis" xml:lang="en-US" id="label_ConcentrationsOfRiskAxis">Concentrations of risk [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationsOfRiskAxis" xlink:to="label_ConcentrationsOfRiskAxis" xlink:title="Label : ConcentrationsOfRiskAxis to label_ConcentrationsOfRiskAxis" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationsOfRiskAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcentrationsOfRiskAxis_1" xml:lang="en-US" id="label_ConcentrationsOfRiskAxis_1">Concentrations of risk [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationsOfRiskAxis" xlink:to="label_ConcentrationsOfRiskAxis_1" xlink:title="Label : ConcentrationsOfRiskAxis to label_ConcentrationsOfRiskAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ConcentrationsOfRiskMember" xlink:label="ConcentrationsOfRiskMember" xlink:title="ConcentrationsOfRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationsOfRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcentrationsOfRiskMember" xml:lang="en-US" id="label_ConcentrationsOfRiskMember">Concentrations of risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationsOfRiskMember" xlink:to="label_ConcentrationsOfRiskMember" xlink:title="Label : ConcentrationsOfRiskMember to label_ConcentrationsOfRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_ConcentrationsOfRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcentrationsOfRiskMember_1" xml:lang="en-US" id="label_ConcentrationsOfRiskMember_1">Concentrations of risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcentrationsOfRiskMember" xlink:to="label_ConcentrationsOfRiskMember_1" xlink:title="Label : ConcentrationsOfRiskMember to label_ConcentrationsOfRiskMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashFlowForecastingMember" xlink:label="CashFlowForecastingMember" xlink:title="CashFlowForecastingMember" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowForecastingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowForecastingMember" xml:lang="en-US" id="label_CashFlowForecastingMember">Cash flow forecasting [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowForecastingMember" xlink:to="label_CashFlowForecastingMember" xlink:title="Label : CashFlowForecastingMember to label_CashFlowForecastingMember" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowForecastingMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowForecastingMember_1" xml:lang="en-US" id="label_CashFlowForecastingMember_1">Cash flow forecasting [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowForecastingMember" xlink:to="label_CashFlowForecastingMember_1" xlink:title="Label : CashFlowForecastingMember to label_CashFlowForecastingMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowForecastingMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashFlowForecastingMember_2" xml:lang="en-US" id="label_CashFlowForecastingMember_2">Cash flow forecasting.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowForecastingMember" xlink:to="label_CashFlowForecastingMember_2" xlink:title="Label : CashFlowForecastingMember to label_CashFlowForecastingMember_2" />
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    <link:label xlink:type="resource" xlink:label="label_SensitivityAnalysisMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SensitivityAnalysisMember_1" xml:lang="en-US" id="label_SensitivityAnalysisMember_1">Sensitivity analysis [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SensitivityAnalysisMember" xlink:to="label_SensitivityAnalysisMember_1" xlink:title="Label : SensitivityAnalysisMember to label_SensitivityAnalysisMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SensitivityAnalysisMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SensitivityAnalysisMember_2" xml:lang="en-US" id="label_SensitivityAnalysisMember_2">Sensitivity analysis.</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AgingAnalysisMember" xlink:label="AgingAnalysisMember" xlink:title="AgingAnalysisMember" />
    <link:label xlink:type="resource" xlink:label="label_AgingAnalysisMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AgingAnalysisMember" xml:lang="en-US" id="label_AgingAnalysisMember">Aging analysis [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AgingAnalysisMember" xlink:to="label_AgingAnalysisMember" xlink:title="Label : AgingAnalysisMember to label_AgingAnalysisMember" />
    <link:label xlink:type="resource" xlink:label="label_AgingAnalysisMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AgingAnalysisMember_1" xml:lang="en-US" id="label_AgingAnalysisMember_1">Aging analysis [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AgingAnalysisMember" xlink:to="label_AgingAnalysisMember_1" xlink:title="Label : AgingAnalysisMember to label_AgingAnalysisMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AgingAnalysisMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AgingAnalysisMember_2" xml:lang="en-US" id="label_AgingAnalysisMember_2">Aging analysis.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AgingAnalysisMember" xlink:to="label_AgingAnalysisMember_2" xlink:title="Label : AgingAnalysisMember to label_AgingAnalysisMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditRatingMember" xlink:label="CreditRatingMember" xlink:title="CreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_CreditRatingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditRatingMember" xml:lang="en-US" id="label_CreditRatingMember">A Credit Rating [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRatingMember" xlink:to="label_CreditRatingMember" xlink:title="Label : CreditRatingMember to label_CreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_CreditRatingMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditRatingMember_1" xml:lang="en-US" id="label_CreditRatingMember_1">A Credit Rating [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRatingMember" xlink:to="label_CreditRatingMember_1" xlink:title="Label : CreditRatingMember to label_CreditRatingMember_1" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfForeignExchangeRiskAbstract" xlink:label="DisclosureOfForeignExchangeRiskAbstract" xlink:title="DisclosureOfForeignExchangeRiskAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskAbstract" xlink:to="label_DisclosureOfForeignExchangeRiskAbstract" xlink:title="Label : DisclosureOfForeignExchangeRiskAbstract to label_DisclosureOfForeignExchangeRiskAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignExchangeRiskAbstract_1" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskAbstract_1">Disclosure of foreign exchange risk [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskAbstract" xlink:to="label_DisclosureOfForeignExchangeRiskAbstract_1" xlink:title="Label : DisclosureOfForeignExchangeRiskAbstract to label_DisclosureOfForeignExchangeRiskAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfForeignExchangeRiskTable" xlink:label="DisclosureOfForeignExchangeRiskTable" xlink:title="DisclosureOfForeignExchangeRiskTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfForeignExchangeRiskTable" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskTable">Disclosure of foreign exchange risk [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskTable" xlink:to="label_DisclosureOfForeignExchangeRiskTable" xlink:title="Label : DisclosureOfForeignExchangeRiskTable to label_DisclosureOfForeignExchangeRiskTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfForeignExchangeRiskTable_1" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskTable_1">Disclosure of foreign exchange risk [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskTable" xlink:to="label_DisclosureOfForeignExchangeRiskTable_1" xlink:title="Label : DisclosureOfForeignExchangeRiskTable to label_DisclosureOfForeignExchangeRiskTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignExchangeRiskTable_2" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskTable_2">Disclosure of foreign exchange risk [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskTable" xlink:to="label_DisclosureOfForeignExchangeRiskTable_2" xlink:title="Label : DisclosureOfForeignExchangeRiskTable to label_DisclosureOfForeignExchangeRiskTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ForeignExchangeRiskMember" xlink:label="ForeignExchangeRiskMember" xlink:title="ForeignExchangeRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignExchangeRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForeignExchangeRiskMember" xml:lang="en-US" id="label_ForeignExchangeRiskMember">Foreign exchange risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignExchangeRiskMember" xlink:to="label_ForeignExchangeRiskMember" xlink:title="Label : ForeignExchangeRiskMember to label_ForeignExchangeRiskMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignExchangeRiskMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForeignExchangeRiskMember_1" xml:lang="en-US" id="label_ForeignExchangeRiskMember_1">Foreign exchange risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignExchangeRiskMember" xlink:to="label_ForeignExchangeRiskMember_1" xlink:title="Label : ForeignExchangeRiskMember to label_ForeignExchangeRiskMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ForeignExchangeRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForeignExchangeRiskMember_2" xml:lang="en-US" id="label_ForeignExchangeRiskMember_2">Foreign exchange risk [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignExchangeRiskMember" xlink:to="label_ForeignExchangeRiskMember_2" xlink:title="Label : ForeignExchangeRiskMember to label_ForeignExchangeRiskMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfForeignExchangeRiskLineItems" xlink:label="DisclosureOfForeignExchangeRiskLineItems" xlink:title="DisclosureOfForeignExchangeRiskLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfForeignExchangeRiskLineItems" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskLineItems">Disclosure of foreign exchange risk [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskLineItems" xlink:to="label_DisclosureOfForeignExchangeRiskLineItems" xlink:title="Label : DisclosureOfForeignExchangeRiskLineItems to label_DisclosureOfForeignExchangeRiskLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfForeignExchangeRiskLineItems_1" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskLineItems_1">Disclosure of foreign exchange risk [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskLineItems" xlink:to="label_DisclosureOfForeignExchangeRiskLineItems_1" xlink:title="Label : DisclosureOfForeignExchangeRiskLineItems to label_DisclosureOfForeignExchangeRiskLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfForeignExchangeRiskLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfForeignExchangeRiskLineItems_2" xml:lang="en-US" id="label_DisclosureOfForeignExchangeRiskLineItems_2">Disclosure of foreign exchange risk [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfForeignExchangeRiskLineItems" xlink:to="label_DisclosureOfForeignExchangeRiskLineItems_2" xlink:title="Label : DisclosureOfForeignExchangeRiskLineItems to label_DisclosureOfForeignExchangeRiskLineItems_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditExposure" xlink:to="label_CreditExposure" xlink:title="Label : CreditExposure to label_CreditExposure" />
    <link:label xlink:type="resource" xlink:label="label_CreditExposure_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditExposure_1" xml:lang="en-US" id="label_CreditExposure_1">Exposure to risk</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditExposure" xlink:to="label_CreditExposure_1" xlink:title="Label : CreditExposure to label_CreditExposure_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionsPercentageTwoIncreaseMember" xlink:to="label_ActuarialAssumptionsPercentageTwoIncreaseMember" xlink:title="Label : ActuarialAssumptionsPercentageTwoIncreaseMember to label_ActuarialAssumptionsPercentageTwoIncreaseMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionsPercentageOneDecreaseMember" xlink:to="label_ActuarialAssumptionsPercentageOneDecreaseMember" xlink:title="Label : ActuarialAssumptionsPercentageOneDecreaseMember to label_ActuarialAssumptionsPercentageOneDecreaseMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionsPercentageOneDecreaseMember" xlink:to="label_ActuarialAssumptionsPercentageOneDecreaseMember_2" xlink:title="Label : ActuarialAssumptionsPercentageOneDecreaseMember to label_ActuarialAssumptionsPercentageOneDecreaseMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionsPercentageTwoDecreaseMember" xlink:to="label_ActuarialAssumptionsPercentageTwoDecreaseMember" xlink:title="Label : ActuarialAssumptionsPercentageTwoDecreaseMember to label_ActuarialAssumptionsPercentageTwoDecreaseMember" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EstimatedPretaxProfitSensitivityAnalysis" xlink:label="EstimatedPretaxProfitSensitivityAnalysis" xlink:title="EstimatedPretaxProfitSensitivityAnalysis" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedPretaxProfitSensitivityAnalysis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedPretaxProfitSensitivityAnalysis" xml:lang="en-US" id="label_EstimatedPretaxProfitSensitivityAnalysis">Estimated Pre-tax Profit Sensitivity analysis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedPretaxProfitSensitivityAnalysis" xlink:to="label_EstimatedPretaxProfitSensitivityAnalysis" xlink:title="Label : EstimatedPretaxProfitSensitivityAnalysis to label_EstimatedPretaxProfitSensitivityAnalysis" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedPretaxProfitSensitivityAnalysis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedPretaxProfitSensitivityAnalysis_1" xml:lang="en-US" id="label_EstimatedPretaxProfitSensitivityAnalysis_1">Exposure interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedPretaxProfitSensitivityAnalysis" xlink:to="label_EstimatedPretaxProfitSensitivityAnalysis_1" xlink:title="Label : EstimatedPretaxProfitSensitivityAnalysis to label_EstimatedPretaxProfitSensitivityAnalysis_1" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedPretaxProfitSensitivityAnalysis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EstimatedPretaxProfitSensitivityAnalysis_2" xml:lang="en-US" id="label_EstimatedPretaxProfitSensitivityAnalysis_2">Estimated pre-tax profit sensitivity analysis.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedPretaxProfitSensitivityAnalysis" xlink:to="label_EstimatedPretaxProfitSensitivityAnalysis_2" xlink:title="Label : EstimatedPretaxProfitSensitivityAnalysis to label_EstimatedPretaxProfitSensitivityAnalysis_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureInterestRatesSensitivityAnalysisAbstract" xlink:label="DisclosureInterestRatesSensitivityAnalysisAbstract" xlink:title="DisclosureInterestRatesSensitivityAnalysisAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisAbstract" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisAbstract">Disclosure Interest Rates Sensitivity Analysis [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisAbstract" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisAbstract" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisAbstract to label_DisclosureInterestRatesSensitivityAnalysisAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisAbstract_1" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisAbstract_1">Disclosure Interest Rates Sensitivity Analysis [abstract].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisAbstract" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisAbstract_1" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisAbstract to label_DisclosureInterestRatesSensitivityAnalysisAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureInterestRatesSensitivityAnalysisTable" xlink:label="DisclosureInterestRatesSensitivityAnalysisTable" xlink:title="DisclosureInterestRatesSensitivityAnalysisTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisTable" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisTable">Disclosure Interest Rates Sensitivity Analysis [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisTable" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisTable" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisTable to label_DisclosureInterestRatesSensitivityAnalysisTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisTable_1" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisTable_1">Disclosure Interest Rates Sensitivity Analysis [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisTable" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisTable_1" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisTable to label_DisclosureInterestRatesSensitivityAnalysisTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisTable_2" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisTable_2">Disclosure Interest Rates Sensitivity Analysis [table].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisTable" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisTable_2" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisTable to label_DisclosureInterestRatesSensitivityAnalysisTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SelicMember" xlink:label="SelicMember" xlink:title="SelicMember" />
    <link:label xlink:type="resource" xlink:label="label_SelicMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SelicMember" xml:lang="en-US" id="label_SelicMember">Selic [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SelicMember" xlink:to="label_SelicMember" xlink:title="Label : SelicMember to label_SelicMember" />
    <link:label xlink:type="resource" xlink:label="label_SelicMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SelicMember_1" xml:lang="en-US" id="label_SelicMember_1">SELIC [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SelicMember" xlink:to="label_SelicMember_1" xlink:title="Label : SelicMember to label_SelicMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SelicMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SelicMember_2" xml:lang="en-US" id="label_SelicMember_2">SELIC.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SelicMember" xlink:to="label_SelicMember_2" xlink:title="Label : SelicMember to label_SelicMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CDIMember" xlink:label="CDIMember" xlink:title="CDIMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CDIMember" xml:lang="en-US" id="label_CDIMember">CDI [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIMember" xlink:to="label_CDIMember" xlink:title="Label : CDIMember to label_CDIMember" />
    <link:label xlink:type="resource" xlink:label="label_CDIMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CDIMember_1" xml:lang="en-US" id="label_CDIMember_1">CDI [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIMember" xlink:to="label_CDIMember_1" xlink:title="Label : CDIMember to label_CDIMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CDIMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CDIMember_2" xml:lang="en-US" id="label_CDIMember_2">CDI.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CDIMember" xlink:to="label_CDIMember_2" xlink:title="Label : CDIMember to label_CDIMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:label="TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:title="TJLPFourSixTwoTJLPPlusOnePercentageMember" />
    <link:label xlink:type="resource" xlink:label="label_TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TJLPFourSixTwoTJLPPlusOnePercentageMember" xml:lang="en-US" id="label_TJLPFourSixTwoTJLPPlusOnePercentageMember">TJLP Four Six Two TJLP Plus one percentage [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:to="label_TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:title="Label : TJLPFourSixTwoTJLPPlusOnePercentageMember to label_TJLPFourSixTwoTJLPPlusOnePercentageMember" />
    <link:label xlink:type="resource" xlink:label="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_1" xml:lang="en-US" id="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_1">TJLP462 (TJLP + 1% p.a.) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:to="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_1" xlink:title="Label : TJLPFourSixTwoTJLPPlusOnePercentageMember to label_TJLPFourSixTwoTJLPPlusOnePercentageMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_2" xml:lang="en-US" id="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_2">TJLP four six two TJLP plus one percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPFourSixTwoTJLPPlusOnePercentageMember" xlink:to="label_TJLPFourSixTwoTJLPPlusOnePercentageMember_2" xlink:title="Label : TJLPFourSixTwoTJLPPlusOnePercentageMember to label_TJLPFourSixTwoTJLPPlusOnePercentageMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TJLPMember" xlink:label="TJLPMember" xlink:title="TJLPMember" />
    <link:label xlink:type="resource" xlink:label="label_TJLPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TJLPMember" xml:lang="en-US" id="label_TJLPMember">TJLP [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPMember" xlink:to="label_TJLPMember" xlink:title="Label : TJLPMember to label_TJLPMember" />
    <link:label xlink:type="resource" xlink:label="label_TJLPMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TJLPMember_1" xml:lang="en-US" id="label_TJLPMember_1">TJLP [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPMember" xlink:to="label_TJLPMember_1" xlink:title="Label : TJLPMember to label_TJLPMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TJLPMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TJLPMember_2" xml:lang="en-US" id="label_TJLPMember_2">TJLP.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TJLPMember" xlink:to="label_TJLPMember_2" xlink:title="Label : TJLPMember to label_TJLPMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IPCAMember" xlink:label="IPCAMember" xlink:title="IPCAMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IPCAMember" xml:lang="en-US" id="label_IPCAMember">IPCA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAMember" xlink:to="label_IPCAMember" xlink:title="Label : IPCAMember to label_IPCAMember" />
    <link:label xlink:type="resource" xlink:label="label_IPCAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IPCAMember_1" xml:lang="en-US" id="label_IPCAMember_1">IPCA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAMember" xlink:to="label_IPCAMember_1" xlink:title="Label : IPCAMember to label_IPCAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IPCAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IPCAMember_2" xml:lang="en-US" id="label_IPCAMember_2">IPCA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IPCAMember" xlink:to="label_IPCAMember_2" xlink:title="Label : IPCAMember to label_IPCAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IGPMMember" xlink:label="IGPMMember" xlink:title="IGPMMember" />
    <link:label xlink:type="resource" xlink:label="label_IGPMMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IGPMMember" xml:lang="en-US" id="label_IGPMMember">IGPM [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGPMMember" xlink:to="label_IGPMMember" xlink:title="Label : IGPMMember to label_IGPMMember" />
    <link:label xlink:type="resource" xlink:label="label_IGPMMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IGPMMember_1" xml:lang="en-US" id="label_IGPMMember_1">IGPM [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGPMMember" xlink:to="label_IGPMMember_1" xlink:title="Label : IGPMMember to label_IGPMMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IGPMMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IGPMMember_2" xml:lang="en-US" id="label_IGPMMember_2">IGPM [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IGPMMember" xlink:to="label_IGPMMember_2" xlink:title="Label : IGPMMember to label_IGPMMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LIBORMember" xlink:label="LIBORMember" xlink:title="LIBORMember" />
    <link:label xlink:type="resource" xlink:label="label_LIBORMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LIBORMember" xml:lang="en-US" id="label_LIBORMember">LIBOR [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LIBORMember" xlink:to="label_LIBORMember" xlink:title="Label : LIBORMember to label_LIBORMember" />
    <link:label xlink:type="resource" xlink:label="label_LIBORMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LIBORMember_1" xml:lang="en-US" id="label_LIBORMember_1">Libor [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LIBORMember" xlink:to="label_LIBORMember_1" xlink:title="Label : LIBORMember to label_LIBORMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LIBORMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LIBORMember_2" xml:lang="en-US" id="label_LIBORMember_2">LIBOR.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LIBORMember" xlink:to="label_LIBORMember_2" xlink:title="Label : LIBORMember to label_LIBORMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:label="DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:title="DisclosureInterestRatesSensitivityAnalysisLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisLineItems" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisLineItems">Disclosure Interest Rates Sensitivity Analysis [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisLineItems to label_DisclosureInterestRatesSensitivityAnalysisLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisLineItems_1" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisLineItems_1">Disclosure interest rates sensitivity analysis [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisLineItems_1" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisLineItems to label_DisclosureInterestRatesSensitivityAnalysisLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureInterestRatesSensitivityAnalysisLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureInterestRatesSensitivityAnalysisLineItems_2" xml:lang="en-US" id="label_DisclosureInterestRatesSensitivityAnalysisLineItems_2">Disclosure interest rates sensitivity analysis.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureInterestRatesSensitivityAnalysisLineItems" xlink:to="label_DisclosureInterestRatesSensitivityAnalysisLineItems_2" xlink:title="Label : DisclosureInterestRatesSensitivityAnalysisLineItems to label_DisclosureInterestRatesSensitivityAnalysisLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EstimatedInterestRate" xlink:label="EstimatedInterestRate" xlink:title="EstimatedInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedInterestRate" xml:lang="en-US" id="label_EstimatedInterestRate">Estimated interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInterestRate" xlink:to="label_EstimatedInterestRate" xlink:title="Label : EstimatedInterestRate to label_EstimatedInterestRate" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInterestRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedInterestRate_1" xml:lang="en-US" id="label_EstimatedInterestRate_1">Estimated interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInterestRate" xlink:to="label_EstimatedInterestRate_1" xlink:title="Label : EstimatedInterestRate to label_EstimatedInterestRate_1" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EstimatedInterestRate_2" xml:lang="en-US" id="label_EstimatedInterestRate_2">Estimated interest rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInterestRate" xlink:to="label_EstimatedInterestRate_2" xlink:title="Label : EstimatedInterestRate to label_EstimatedInterestRate_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureAbstract" xlink:to="label_DisclosureOfCreditRiskExposureAbstract" xlink:title="Label : DisclosureOfCreditRiskExposureAbstract to label_DisclosureOfCreditRiskExposureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfCreditRiskExposureTable" xlink:label="DisclosureOfCreditRiskExposureTable" xlink:title="DisclosureOfCreditRiskExposureTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCreditRiskExposureTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCreditRiskExposureTable" xml:lang="en-US" id="label_DisclosureOfCreditRiskExposureTable">Disclosure of credit risk exposure [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureTable" xlink:to="label_DisclosureOfCreditRiskExposureTable" xlink:title="Label : DisclosureOfCreditRiskExposureTable to label_DisclosureOfCreditRiskExposureTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCreditRiskExposureTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCreditRiskExposureTable_1" xml:lang="en-US" id="label_DisclosureOfCreditRiskExposureTable_1">Disclosure of credit risk exposure [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureTable" xlink:to="label_DisclosureOfCreditRiskExposureTable_1" xlink:title="Label : DisclosureOfCreditRiskExposureTable to label_DisclosureOfCreditRiskExposureTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsMember" xlink:label="DividendsMember" xlink:title="DividendsMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsMember" xml:lang="en-US" id="label_DividendsMember">Dividends.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsMember" xlink:to="label_DividendsMember" xlink:title="Label : DividendsMember to label_DividendsMember" />
    <link:label xlink:type="resource" xlink:label="label_DividendsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsMember_1" xml:lang="en-US" id="label_DividendsMember_1">Dividend receivable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsMember" xlink:to="label_DividendsMember_1" xlink:title="Label : DividendsMember to label_DividendsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsMember_2" xml:lang="en-US" id="label_DividendsMember_2">Dividends [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsMember" xlink:to="label_DividendsMember_2" xlink:title="Label : DividendsMember to label_DividendsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfCreditRiskExposureLineItems" xlink:label="DisclosureOfCreditRiskExposureLineItems" xlink:title="DisclosureOfCreditRiskExposureLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCreditRiskExposureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfCreditRiskExposureLineItems" xml:lang="en-US" id="label_DisclosureOfCreditRiskExposureLineItems">Disclosure of credit risk exposure [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="label_DisclosureOfCreditRiskExposureLineItems" xlink:title="Label : DisclosureOfCreditRiskExposureLineItems to label_DisclosureOfCreditRiskExposureLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfCreditRiskExposureLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfCreditRiskExposureLineItems_1" xml:lang="en-US" id="label_DisclosureOfCreditRiskExposureLineItems_1">Disclosure of credit risk exposure [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfCreditRiskExposureLineItems" xlink:to="label_DisclosureOfCreditRiskExposureLineItems_1" xlink:title="Label : DisclosureOfCreditRiskExposureLineItems to label_DisclosureOfCreditRiskExposureLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_SubsidiariesGroupOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubsidiariesGroupOneMember_2" xml:lang="en-US" id="label_SubsidiariesGroupOneMember_2">Cosan Luxembourg S.A. and Rumo S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsidiariesGroupOneMember" xlink:to="label_SubsidiariesGroupOneMember_2" xlink:title="Label : SubsidiariesGroupOneMember to label_SubsidiariesGroupOneMember_2" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInSubsidiary_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfOwnershipInterestInSubsidiary_3" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInSubsidiary_3">Proportion of ownership interest in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInSubsidiary" xlink:to="label_ProportionOfOwnershipInterestInSubsidiary_3" xlink:title="Label : ProportionOfOwnershipInterestInSubsidiary to label_ProportionOfOwnershipInterestInSubsidiary_3" />
    <link:label xlink:type="resource" xlink:label="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_2" xml:lang="en-US" id="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_2">The amount recognised as of the acquisition date for lease liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" xlink:to="label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_2" xlink:title="Label : PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue to label_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfExternalCreditExposuresAbstract" xlink:label="DisclosureOfExternalCreditExposuresAbstract" xlink:title="DisclosureOfExternalCreditExposuresAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExternalCreditExposuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfExternalCreditExposuresAbstract" xml:lang="en-US" id="label_DisclosureOfExternalCreditExposuresAbstract">Disclosure of external credit grades [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExternalCreditExposuresAbstract" xlink:to="label_DisclosureOfExternalCreditExposuresAbstract" xlink:title="Label : DisclosureOfExternalCreditExposuresAbstract to label_DisclosureOfExternalCreditExposuresAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfExternalCreditExposuresTable" xlink:label="DisclosureOfExternalCreditExposuresTable" xlink:title="DisclosureOfExternalCreditExposuresTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExternalCreditExposuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfExternalCreditExposuresTable" xml:lang="en-US" id="label_DisclosureOfExternalCreditExposuresTable">Disclosure of external credit grades [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExternalCreditExposuresTable" xlink:to="label_DisclosureOfExternalCreditExposuresTable" xlink:title="Label : DisclosureOfExternalCreditExposuresTable to label_DisclosureOfExternalCreditExposuresTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExternalCreditExposuresTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfExternalCreditExposuresTable_1" xml:lang="en-US" id="label_DisclosureOfExternalCreditExposuresTable_1">Disclosure of external credit grades [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExternalCreditExposuresTable" xlink:to="label_DisclosureOfExternalCreditExposuresTable_1" xlink:title="Label : DisclosureOfExternalCreditExposuresTable to label_DisclosureOfExternalCreditExposuresTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditRatingSourceAxis" xlink:label="CreditRatingSourceAxis" xlink:title="CreditRatingSourceAxis" />
    <link:label xlink:type="resource" xlink:label="label_CreditRatingSourceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditRatingSourceAxis" xml:lang="en-US" id="label_CreditRatingSourceAxis">Credit Rating Source [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRatingSourceAxis" xlink:to="label_CreditRatingSourceAxis" xlink:title="Label : CreditRatingSourceAxis to label_CreditRatingSourceAxis" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditRatingSourceDomain" xlink:label="CreditRatingSourceDomain" xlink:title="CreditRatingSourceDomain" />
    <link:label xlink:type="resource" xlink:label="label_CreditRatingSourceDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditRatingSourceDomain" xml:lang="en-US" id="label_CreditRatingSourceDomain">Credit Rating Source [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditRatingSourceDomain" xlink:to="label_CreditRatingSourceDomain" xlink:title="Label : CreditRatingSourceDomain to label_CreditRatingSourceDomain" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AAACreditRatingMember" xlink:label="AAACreditRatingMember" xlink:title="AAACreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_AAACreditRatingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AAACreditRatingMember" xml:lang="en-US" id="label_AAACreditRatingMember">This member stands for information pertaining to AAA credit rating standard.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AAACreditRatingMember" xlink:to="label_AAACreditRatingMember" xlink:title="Label : AAACreditRatingMember to label_AAACreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_AAACreditRatingMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AAACreditRatingMember_1" xml:lang="en-US" id="label_AAACreditRatingMember_1">AAA credit rating [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AAACreditRatingMember" xlink:to="label_AAACreditRatingMember_1" xlink:title="Label : AAACreditRatingMember to label_AAACreditRatingMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AAACreditRatingMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AAACreditRatingMember_2" xml:lang="en-US" id="label_AAACreditRatingMember_2">AAA credit rating [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AAACreditRatingMember" xlink:to="label_AAACreditRatingMember_2" xlink:title="Label : AAACreditRatingMember to label_AAACreditRatingMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AACreditRatingMember" xlink:label="AACreditRatingMember" xlink:title="AACreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_AACreditRatingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AACreditRatingMember" xml:lang="en-US" id="label_AACreditRatingMember">This member stands for information pertaining to AA credit rating standard.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AACreditRatingMember" xlink:to="label_AACreditRatingMember" xlink:title="Label : AACreditRatingMember to label_AACreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_AACreditRatingMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AACreditRatingMember_1" xml:lang="en-US" id="label_AACreditRatingMember_1">AA credit rating [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AACreditRatingMember" xlink:to="label_AACreditRatingMember_1" xlink:title="Label : AACreditRatingMember to label_AACreditRatingMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AACreditRatingMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AACreditRatingMember_2" xml:lang="en-US" id="label_AACreditRatingMember_2">AA credit rating [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AACreditRatingMember" xlink:to="label_AACreditRatingMember_2" xlink:title="Label : AACreditRatingMember to label_AACreditRatingMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FuelDerivativesMember" xlink:label="FuelDerivativesMember" xlink:title="FuelDerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_FuelDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FuelDerivativesMember" xml:lang="en-US" id="label_FuelDerivativesMember">This member stands for the information pertaining to fuel derivatives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelDerivativesMember" xlink:to="label_FuelDerivativesMember" xlink:title="Label : FuelDerivativesMember to label_FuelDerivativesMember" />
    <link:label xlink:type="resource" xlink:label="label_FuelDerivativesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FuelDerivativesMember_1" xml:lang="en-US" id="label_FuelDerivativesMember_1">Fuel Derivatives [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelDerivativesMember" xlink:to="label_FuelDerivativesMember_1" xlink:title="Label : FuelDerivativesMember to label_FuelDerivativesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FuelDerivativesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FuelDerivativesMember_2" xml:lang="en-US" id="label_FuelDerivativesMember_2">Fuel Derivatives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuelDerivativesMember" xlink:to="label_FuelDerivativesMember_2" xlink:title="Label : FuelDerivativesMember to label_FuelDerivativesMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfExternalCreditExposuresLineItems" xlink:label="DisclosureOfExternalCreditExposuresLineItems" xlink:title="DisclosureOfExternalCreditExposuresLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExternalCreditExposuresLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfExternalCreditExposuresLineItems" xml:lang="en-US" id="label_DisclosureOfExternalCreditExposuresLineItems">Disclosure of external credit grades [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExternalCreditExposuresLineItems" xlink:to="label_DisclosureOfExternalCreditExposuresLineItems" xlink:title="Label : DisclosureOfExternalCreditExposuresLineItems to label_DisclosureOfExternalCreditExposuresLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExternalCreditExposuresLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfExternalCreditExposuresLineItems_1" xml:lang="en-US" id="label_DisclosureOfExternalCreditExposuresLineItems_1">Disclosure of external credit grades [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExternalCreditExposuresLineItems" xlink:to="label_DisclosureOfExternalCreditExposuresLineItems_1" xlink:title="Label : DisclosureOfExternalCreditExposuresLineItems to label_DisclosureOfExternalCreditExposuresLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MaximumExposureToCreditRisk" xlink:label="MaximumExposureToCreditRisk" xlink:title="MaximumExposureToCreditRisk" />
    <link:label xlink:type="resource" xlink:label="label_MaximumExposureToCreditRisk" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaximumExposureToCreditRisk" xml:lang="en-US" id="label_MaximumExposureToCreditRisk">Maximum exposure to credit risk</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumExposureToCreditRisk" xlink:to="label_MaximumExposureToCreditRisk" xlink:title="Label : MaximumExposureToCreditRisk to label_MaximumExposureToCreditRisk" />
    <link:label xlink:type="resource" xlink:label="label_MaximumExposureToCreditRisk_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumExposureToCreditRisk_1" xml:lang="en-US" id="label_MaximumExposureToCreditRisk_1">Credit rating</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumExposureToCreditRisk" xlink:to="label_MaximumExposureToCreditRisk_1" xlink:title="Label : MaximumExposureToCreditRisk to label_MaximumExposureToCreditRisk_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" xlink:label="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" xlink:title="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" xml:lang="en-US" id="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract">Disclosure of maturity analysis for non-derivative financial liabilities [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" xlink:to="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" xlink:title="Label : DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract to label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:label="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:title="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xml:lang="en-US" id="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable">Disclosure of maturity analysis for non-derivative financial liabilities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:to="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:title="Label : DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable to label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_1" xml:lang="en-US" id="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_1">Disclosure of maturity analysis for non-derivative financial liabilities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable" xlink:to="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_1" xlink:title="Label : DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable to label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="NotLaterThanOneYearMember" xlink:title="NotLaterThanOneYearMember" />
    <link:label xlink:type="resource" xlink:label="label_NotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NotLaterThanOneYearMember" xml:lang="en-US" id="label_NotLaterThanOneYearMember">Up to 1 year [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanOneYearMember" xlink:to="label_NotLaterThanOneYearMember" xlink:title="Label : NotLaterThanOneYearMember to label_NotLaterThanOneYearMember" />
    <link:label xlink:type="resource" xlink:label="label_NotLaterThanOneYearMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NotLaterThanOneYearMember_1" xml:lang="en-US" id="label_NotLaterThanOneYearMember_1">Not later than one year [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanOneYearMember" xlink:to="label_NotLaterThanOneYearMember_1" xlink:title="Label : NotLaterThanOneYearMember to label_NotLaterThanOneYearMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:label="LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:title="LaterThanThreeYearsAndNotLaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember">Later than three years and not later than five years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:title="Label : LaterThanThreeYearsAndNotLaterThanFiveYearsMember to label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_1" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_1">3 - 5 years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_1" xlink:title="Label : LaterThanThreeYearsAndNotLaterThanFiveYearsMember to label_LaterThanThreeYearsAndNotLaterThanFiveYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="LaterThanFiveYearsMember" xlink:title="LaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsMember">Later than five years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsMember" xlink:to="label_LaterThanFiveYearsMember" xlink:title="Label : LaterThanFiveYearsMember to label_LaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFiveYearsMember_1" xml:lang="en-US" id="label_LaterThanFiveYearsMember_1">More than 5 years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsMember" xlink:to="label_LaterThanFiveYearsMember_1" xlink:title="Label : LaterThanFiveYearsMember to label_LaterThanFiveYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:label="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:title="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xml:lang="en-US" id="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems">Disclosure of maturity analysis for non-derivative financial liabilities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:to="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:title="Label : DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems to label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_1" xml:lang="en-US" id="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_1">Disclosure of maturity analysis for non-derivative financial liabilities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems" xlink:to="label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_1" xlink:title="Label : DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems to label_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonDerivativeFinancialLiabilities" xlink:label="NonDerivativeFinancialLiabilities" xlink:title="NonDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NonDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonDerivativeFinancialLiabilities" xml:lang="en-US" id="label_NonDerivativeFinancialLiabilities">Non- derivative financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonDerivativeFinancialLiabilities" xlink:to="label_NonDerivativeFinancialLiabilities" xlink:title="Label : NonDerivativeFinancialLiabilities to label_NonDerivativeFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NonDerivativeFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonDerivativeFinancialLiabilities_1" xml:lang="en-US" id="label_NonDerivativeFinancialLiabilities_1">Non-derivative financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonDerivativeFinancialLiabilities" xlink:to="label_NonDerivativeFinancialLiabilities_1" xlink:title="Label : NonDerivativeFinancialLiabilities to label_NonDerivativeFinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_NonDerivativeFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonDerivativeFinancialLiabilities_2" xml:lang="en-US" id="label_NonDerivativeFinancialLiabilities_2">Non-derivative financial liabilitiy.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonDerivativeFinancialLiabilities" xlink:to="label_NonDerivativeFinancialLiabilities_2" xlink:title="Label : NonDerivativeFinancialLiabilities to label_NonDerivativeFinancialLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:label="TradeAndOtherCurrentReceivablesAbstract" xlink:title="TradeAndOtherCurrentReceivablesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentReceivablesAbstract" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesAbstract">Trade and other current receivables [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesAbstract" xlink:to="label_TradeAndOtherCurrentReceivablesAbstract" xlink:title="Label : TradeAndOtherCurrentReceivablesAbstract to label_TradeAndOtherCurrentReceivablesAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradeAndOtherCurrentReceivablesTable" xlink:label="TradeAndOtherCurrentReceivablesTable" xlink:title="TradeAndOtherCurrentReceivablesTable" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentReceivablesTable" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesTable">Trade and Other Current Receivables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesTable" xlink:to="label_TradeAndOtherCurrentReceivablesTable" xlink:title="Label : TradeAndOtherCurrentReceivablesTable to label_TradeAndOtherCurrentReceivablesTable" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentReceivablesTable_1" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesTable_1">Trade and Other Current Receivables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesTable" xlink:to="label_TradeAndOtherCurrentReceivablesTable_1" xlink:title="Label : TradeAndOtherCurrentReceivablesTable to label_TradeAndOtherCurrentReceivablesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradeAndOtherCurrentReceivablesTable_2" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesTable_2">Trade and Other Current Receivables [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesTable" xlink:to="label_TradeAndOtherCurrentReceivablesTable_2" xlink:title="Label : TradeAndOtherCurrentReceivablesTable to label_TradeAndOtherCurrentReceivablesTable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:title="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xml:lang="en-US" id="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:title="Label : TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis to label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_1" xml:lang="en-US" id="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_1">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_1" xlink:title="Label : TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis to label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:title="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xml:lang="en-US" id="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:title="Label : TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember to label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_1" xml:lang="en-US" id="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_1">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_1" xlink:title="Label : TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember to label_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CofinsRevenueTaxMember" xlink:label="CofinsRevenueTaxMember" xlink:title="CofinsRevenueTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_CofinsRevenueTaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CofinsRevenueTaxMember" xml:lang="en-US" id="label_CofinsRevenueTaxMember">Cofins revenue tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CofinsRevenueTaxMember" xlink:to="label_CofinsRevenueTaxMember" xlink:title="Label : CofinsRevenueTaxMember to label_CofinsRevenueTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_CofinsRevenueTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CofinsRevenueTaxMember_1" xml:lang="en-US" id="label_CofinsRevenueTaxMember_1">COFINS - Revenue tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CofinsRevenueTaxMember" xlink:to="label_CofinsRevenueTaxMember_1" xlink:title="Label : CofinsRevenueTaxMember to label_CofinsRevenueTaxMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CofinsRevenueTaxMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CofinsRevenueTaxMember_2" xml:lang="en-US" id="label_CofinsRevenueTaxMember_2">Cofins revenue tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CofinsRevenueTaxMember" xlink:to="label_CofinsRevenueTaxMember_2" xlink:title="Label : CofinsRevenueTaxMember to label_CofinsRevenueTaxMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ICMSTaxesMember" xlink:label="ICMSTaxesMember" xlink:title="ICMSTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_ICMSTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ICMSTaxesMember" xml:lang="en-US" id="label_ICMSTaxesMember">ICMS - State VAT [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSTaxesMember" xlink:to="label_ICMSTaxesMember" xlink:title="Label : ICMSTaxesMember to label_ICMSTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_ICMSTaxesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ICMSTaxesMember_1" xml:lang="en-US" id="label_ICMSTaxesMember_1">ICMS - State VAT [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSTaxesMember" xlink:to="label_ICMSTaxesMember_1" xlink:title="Label : ICMSTaxesMember to label_ICMSTaxesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ICMSTaxesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ICMSTaxesMember_2" xml:lang="en-US" id="label_ICMSTaxesMember_2">ICMS taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSTaxesMember" xlink:to="label_ICMSTaxesMember_2" xlink:title="Label : ICMSTaxesMember to label_ICMSTaxesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ICMSCIAPTaxesMember" xlink:label="ICMSCIAPTaxesMember" xlink:title="ICMSCIAPTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_ICMSCIAPTaxesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ICMSCIAPTaxesMember" xml:lang="en-US" id="label_ICMSCIAPTaxesMember">ICM SCIAP taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSCIAPTaxesMember" xlink:to="label_ICMSCIAPTaxesMember" xlink:title="Label : ICMSCIAPTaxesMember to label_ICMSCIAPTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_ICMSCIAPTaxesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ICMSCIAPTaxesMember_1" xml:lang="en-US" id="label_ICMSCIAPTaxesMember_1">ICMS CIAP - State VAT [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSCIAPTaxesMember" xlink:to="label_ICMSCIAPTaxesMember_1" xlink:title="Label : ICMSCIAPTaxesMember to label_ICMSCIAPTaxesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ICMSCIAPTaxesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ICMSCIAPTaxesMember_2" xml:lang="en-US" id="label_ICMSCIAPTaxesMember_2">ICM SCIAP Taxes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSCIAPTaxesMember" xlink:to="label_ICMSCIAPTaxesMember_2" xlink:title="Label : ICMSCIAPTaxesMember to label_ICMSCIAPTaxesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PISRevenueTaxMember" xlink:label="PISRevenueTaxMember" xlink:title="PISRevenueTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_PISRevenueTaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PISRevenueTaxMember" xml:lang="en-US" id="label_PISRevenueTaxMember">PIS Revenue tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PISRevenueTaxMember" xlink:to="label_PISRevenueTaxMember" xlink:title="Label : PISRevenueTaxMember to label_PISRevenueTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_PISRevenueTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PISRevenueTaxMember_1" xml:lang="en-US" id="label_PISRevenueTaxMember_1">PIS - Revenue tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PISRevenueTaxMember" xlink:to="label_PISRevenueTaxMember_1" xlink:title="Label : PISRevenueTaxMember to label_PISRevenueTaxMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PISRevenueTaxMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PISRevenueTaxMember_2" xml:lang="en-US" id="label_PISRevenueTaxMember_2">PIS revenue tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PISRevenueTaxMember" xlink:to="label_PISRevenueTaxMember_2" xlink:title="Label : PISRevenueTaxMember to label_PISRevenueTaxMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditInstallmentMember" xlink:label="CreditInstallmentMember" xlink:title="CreditInstallmentMember" />
    <link:label xlink:type="resource" xlink:label="label_CreditInstallmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditInstallmentMember" xml:lang="en-US" id="label_CreditInstallmentMember">Credit installment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditInstallmentMember" xlink:to="label_CreditInstallmentMember" xlink:title="Label : CreditInstallmentMember to label_CreditInstallmentMember" />
    <link:label xlink:type="resource" xlink:label="label_CreditInstallmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditInstallmentMember_1" xml:lang="en-US" id="label_CreditInstallmentMember_1">Credit installment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditInstallmentMember" xlink:to="label_CreditInstallmentMember_1" xlink:title="Label : CreditInstallmentMember to label_CreditInstallmentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CreditInstallmentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CreditInstallmentMember_2" xml:lang="en-US" id="label_CreditInstallmentMember_2">Credit installment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditInstallmentMember" xlink:to="label_CreditInstallmentMember_2" xlink:title="Label : CreditInstallmentMember to label_CreditInstallmentMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTaxesMember" xlink:label="OtherTaxesMember" xlink:title="OtherTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTaxesMember" xml:lang="en-US" id="label_OtherTaxesMember">Other Taxes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxesMember" xlink:to="label_OtherTaxesMember" xlink:title="Label : OtherTaxesMember to label_OtherTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherTaxesMember_1" xml:lang="en-US" id="label_OtherTaxesMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxesMember" xlink:to="label_OtherTaxesMember_1" xlink:title="Label : OtherTaxesMember to label_OtherTaxesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTaxesMember_2" xml:lang="en-US" id="label_OtherTaxesMember_2">Other taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxesMember" xlink:to="label_OtherTaxesMember_2" xlink:title="Label : OtherTaxesMember to label_OtherTaxesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradeAndOtherCurrentReceivablesLineItems" xlink:label="TradeAndOtherCurrentReceivablesLineItems" xlink:title="TradeAndOtherCurrentReceivablesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeAndOtherCurrentReceivablesLineItems" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesLineItems">Trade and Other Current Receivables [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesLineItems" xlink:to="label_TradeAndOtherCurrentReceivablesLineItems" xlink:title="Label : TradeAndOtherCurrentReceivablesLineItems to label_TradeAndOtherCurrentReceivablesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeAndOtherCurrentReceivablesLineItems_1" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesLineItems_1">Trade and Other Current Receivables [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesLineItems" xlink:to="label_TradeAndOtherCurrentReceivablesLineItems_1" xlink:title="Label : TradeAndOtherCurrentReceivablesLineItems to label_TradeAndOtherCurrentReceivablesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherCurrentReceivablesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradeAndOtherCurrentReceivablesLineItems_2" xml:lang="en-US" id="label_TradeAndOtherCurrentReceivablesLineItems_2">Trade and other current receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherCurrentReceivablesLineItems" xlink:to="label_TradeAndOtherCurrentReceivablesLineItems_2" xlink:title="Label : TradeAndOtherCurrentReceivablesLineItems to label_TradeAndOtherCurrentReceivablesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ReceivablesFromTaxesOtherThanIncomeTax" xlink:title="ReceivablesFromTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTax" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTax">Receivables from taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTax" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTax to label_ReceivablesFromTaxesOtherThanIncomeTax" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTax_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTax_1" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTax_1">Receivables from taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTax_1" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTax to label_ReceivablesFromTaxesOtherThanIncomeTax_1" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTax_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTax_2" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTax_2">Receivables from taxes other than income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTax" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTax_2" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTax to label_ReceivablesFromTaxesOtherThanIncomeTax_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_LitigationCaseAxis" xlink:label="LitigationCaseAxis" xlink:title="LitigationCaseAxis" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCaseAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LitigationCaseAxis" xml:lang="en-US" id="label_LitigationCaseAxis">Litigation Case [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCaseAxis" xlink:to="label_LitigationCaseAxis" xlink:title="Label : LitigationCaseAxis to label_LitigationCaseAxis" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCaseAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LitigationCaseAxis_1" xml:lang="en-US" id="label_LitigationCaseAxis_1">Litigation Case [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCaseAxis" xlink:to="label_LitigationCaseAxis_1" xlink:title="Label : LitigationCaseAxis to label_LitigationCaseAxis_1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_LitigationCaseTypeDomain" xlink:label="LitigationCaseTypeDomain" xlink:title="LitigationCaseTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCaseTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LitigationCaseTypeDomain" xml:lang="en-US" id="label_LitigationCaseTypeDomain">Litigation Case [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCaseTypeDomain" xlink:to="label_LitigationCaseTypeDomain" xlink:title="Label : LitigationCaseTypeDomain to label_LitigationCaseTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCaseTypeDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LitigationCaseTypeDomain_1" xml:lang="en-US" id="label_LitigationCaseTypeDomain_1">Litigation Case [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCaseTypeDomain" xlink:to="label_LitigationCaseTypeDomain_1" xlink:title="Label : LitigationCaseTypeDomain to label_LitigationCaseTypeDomain_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FederalSupremeCourtMember" xlink:label="FederalSupremeCourtMember" xlink:title="FederalSupremeCourtMember" />
    <link:label xlink:type="resource" xlink:label="label_FederalSupremeCourtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FederalSupremeCourtMember" xml:lang="en-US" id="label_FederalSupremeCourtMember">Federal Supreme Court [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalSupremeCourtMember" xlink:to="label_FederalSupremeCourtMember" xlink:title="Label : FederalSupremeCourtMember to label_FederalSupremeCourtMember" />
    <link:label xlink:type="resource" xlink:label="label_FederalSupremeCourtMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FederalSupremeCourtMember_1" xml:lang="en-US" id="label_FederalSupremeCourtMember_1">Federal Supreme Court [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalSupremeCourtMember" xlink:to="label_FederalSupremeCourtMember_1" xlink:title="Label : FederalSupremeCourtMember to label_FederalSupremeCourtMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FederalSupremeCourtMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FederalSupremeCourtMember_2" xml:lang="en-US" id="label_FederalSupremeCourtMember_2">Federal Supreme Court.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalSupremeCourtMember" xlink:to="label_FederalSupremeCourtMember_2" xlink:title="Label : FederalSupremeCourtMember to label_FederalSupremeCourtMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncomeGrantFromJudicialPrecedent" xlink:label="IncomeGrantFromJudicialPrecedent" xlink:title="IncomeGrantFromJudicialPrecedent" />
    <link:label xlink:type="resource" xlink:label="label_IncomeGrantFromJudicialPrecedent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeGrantFromJudicialPrecedent" xml:lang="en-US" id="label_IncomeGrantFromJudicialPrecedent">Income Grant From Judicial Precedent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeGrantFromJudicialPrecedent" xlink:to="label_IncomeGrantFromJudicialPrecedent" xlink:title="Label : IncomeGrantFromJudicialPrecedent to label_IncomeGrantFromJudicialPrecedent" />
    <link:label xlink:type="resource" xlink:label="label_IncomeGrantFromJudicialPrecedent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeGrantFromJudicialPrecedent_1" xml:lang="en-US" id="label_IncomeGrantFromJudicialPrecedent_1">Income grant from judicial precedent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeGrantFromJudicialPrecedent" xlink:to="label_IncomeGrantFromJudicialPrecedent_1" xlink:title="Label : IncomeGrantFromJudicialPrecedent to label_IncomeGrantFromJudicialPrecedent_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeGrantFromJudicialPrecedent_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeGrantFromJudicialPrecedent_2" xml:lang="en-US" id="label_IncomeGrantFromJudicialPrecedent_2">Income grant from judicial precedent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeGrantFromJudicialPrecedent" xlink:to="label_IncomeGrantFromJudicialPrecedent_2" xlink:title="Label : IncomeGrantFromJudicialPrecedent to label_IncomeGrantFromJudicialPrecedent_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PisAndCofinsMember" xlink:label="PisAndCofinsMember" xlink:title="PisAndCofinsMember" />
    <link:label xlink:type="resource" xlink:label="label_PisAndCofinsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PisAndCofinsMember" xml:lang="en-US" id="label_PisAndCofinsMember">This member stands for the information pertaining to ICMS on PIS and COFINS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PisAndCofinsMember" xlink:to="label_PisAndCofinsMember" xlink:title="Label : PisAndCofinsMember to label_PisAndCofinsMember" />
    <link:label xlink:type="resource" xlink:label="label_PisAndCofinsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PisAndCofinsMember_1" xml:lang="en-US" id="label_PisAndCofinsMember_1">PIS and COFINS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PisAndCofinsMember" xlink:to="label_PisAndCofinsMember_1" xlink:title="Label : PisAndCofinsMember to label_PisAndCofinsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PisAndCofinsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PisAndCofinsMember_2" xml:lang="en-US" id="label_PisAndCofinsMember_2">PIS and COFINS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PisAndCofinsMember" xlink:to="label_PisAndCofinsMember_2" xlink:title="Label : PisAndCofinsMember to label_PisAndCofinsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialResults" xlink:label="FinancialResults" xlink:title="FinancialResults" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResults" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialResults" xml:lang="en-US" id="label_FinancialResults">Financial Results</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResults" xlink:to="label_FinancialResults" xlink:title="Label : FinancialResults to label_FinancialResults" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResults_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialResults_1" xml:lang="en-US" id="label_FinancialResults_1">Financial result</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResults" xlink:to="label_FinancialResults_1" xlink:title="Label : FinancialResults to label_FinancialResults_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResults_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_FinancialResults_2" xml:lang="en-US" id="label_FinancialResults_2">Finance results, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResults" xlink:to="label_FinancialResults_2" xlink:title="Label : FinancialResults to label_FinancialResults_2" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResults_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinancialResults_3" xml:lang="en-US" id="label_FinancialResults_3">Finance results, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResults" xlink:to="label_FinancialResults_3" xlink:title="Label : FinancialResults to label_FinancialResults_3" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResults_4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialResults_4" xml:lang="en-US" id="label_FinancialResults_4">Financial results.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResults" xlink:to="label_FinancialResults_4" xlink:title="Label : FinancialResults to label_FinancialResults_4" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ClassesOfInventoriesAbstract" xlink:title="ClassesOfInventoriesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfInventoriesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfInventoriesAbstract" xml:lang="en-US" id="label_ClassesOfInventoriesAbstract">Classes of current inventories [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfInventoriesAbstract" xlink:to="label_ClassesOfInventoriesAbstract" xlink:title="Label : ClassesOfInventoriesAbstract to label_ClassesOfInventoriesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinishedGoods" xlink:label="FinishedGoods" xlink:title="FinishedGoods" />
    <link:label xlink:type="resource" xlink:label="label_FinishedGoods" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinishedGoods" xml:lang="en-US" id="label_FinishedGoods">Current finished goods</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinishedGoods" xlink:to="label_FinishedGoods" xlink:title="Label : FinishedGoods to label_FinishedGoods" />
    <link:label xlink:type="resource" xlink:label="label_FinishedGoods_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinishedGoods_1" xml:lang="en-US" id="label_FinishedGoods_1">Finished goods</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinishedGoods" xlink:to="label_FinishedGoods_1" xlink:title="Label : FinishedGoods to label_FinishedGoods_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SpareParts" xlink:label="SpareParts" xlink:title="SpareParts" />
    <link:label xlink:type="resource" xlink:label="label_SpareParts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SpareParts" xml:lang="en-US" id="label_SpareParts">Current spare parts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpareParts" xlink:to="label_SpareParts" xlink:title="Label : SpareParts to label_SpareParts" />
    <link:label xlink:type="resource" xlink:label="label_SpareParts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SpareParts_1" xml:lang="en-US" id="label_SpareParts_1">Spare parts and accessories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpareParts" xlink:to="label_SpareParts_1" xlink:title="Label : SpareParts to label_SpareParts_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RawMaterials" xlink:label="RawMaterials" xlink:title="RawMaterials" />
    <link:label xlink:type="resource" xlink:label="label_RawMaterials" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RawMaterials" xml:lang="en-US" id="label_RawMaterials">Raw material</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RawMaterials" xlink:to="label_RawMaterials" xlink:title="Label : RawMaterials to label_RawMaterials" />
    <link:label xlink:type="resource" xlink:label="label_RawMaterials_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RawMaterials_1" xml:lang="en-US" id="label_RawMaterials_1">Current raw materials</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RawMaterials" xlink:to="label_RawMaterials_1" xlink:title="Label : RawMaterials to label_RawMaterials_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WarehouseAndOthers" xlink:label="WarehouseAndOthers" xlink:title="WarehouseAndOthers" />
    <link:label xlink:type="resource" xlink:label="label_WarehouseAndOthers" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WarehouseAndOthers" xml:lang="en-US" id="label_WarehouseAndOthers">Warehouse and others.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarehouseAndOthers" xlink:to="label_WarehouseAndOthers" xlink:title="Label : WarehouseAndOthers to label_WarehouseAndOthers" />
    <link:label xlink:type="resource" xlink:label="label_WarehouseAndOthers_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WarehouseAndOthers_1" xml:lang="en-US" id="label_WarehouseAndOthers_1">Warehouse and other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarehouseAndOthers" xlink:to="label_WarehouseAndOthers_1" xlink:title="Label : WarehouseAndOthers to label_WarehouseAndOthers_1" />
    <link:label xlink:type="resource" xlink:label="label_WarehouseAndOthers_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WarehouseAndOthers_2" xml:lang="en-US" id="label_WarehouseAndOthers_2">Warehouse and others</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WarehouseAndOthers" xlink:to="label_WarehouseAndOthers_2" xlink:title="Label : WarehouseAndOthers to label_WarehouseAndOthers_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentFuel" xlink:label="CurrentFuel" xlink:title="CurrentFuel" />
    <link:label xlink:type="resource" xlink:label="label_CurrentFuel" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentFuel" xml:lang="en-US" id="label_CurrentFuel">Current fuel</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFuel" xlink:to="label_CurrentFuel" xlink:title="Label : CurrentFuel to label_CurrentFuel" />
    <link:label xlink:type="resource" xlink:label="label_CurrentFuel_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentFuel_1" xml:lang="en-US" id="label_CurrentFuel_1">Fuels and lubricants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFuel" xlink:to="label_CurrentFuel_1" xlink:title="Label : CurrentFuel to label_CurrentFuel_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract">Acquisition of subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:title="Label : DisclosureOfSignificantInvestmentsInSubsidiariesAbstract to label_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable">Disclosure of subsidiaries [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:title="Label : DisclosureOfSignificantInvestmentsInSubsidiariesTable to label_DisclosureOfSignificantInvestmentsInSubsidiariesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable_1" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable_1">Disclosure of subsidiaries [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesTable_1" xlink:title="Label : DisclosureOfSignificantInvestmentsInSubsidiariesTable to label_DisclosureOfSignificantInvestmentsInSubsidiariesTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AssociatesMember" xlink:label="AssociatesMember" xlink:title="AssociatesMember" />
    <link:label xlink:type="resource" xlink:label="label_AssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssociatesMember" xml:lang="en-US" id="label_AssociatesMember">Associates [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatesMember" xlink:to="label_AssociatesMember" xlink:title="Label : AssociatesMember to label_AssociatesMember" />
    <link:label xlink:type="resource" xlink:label="label_AssociatesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssociatesMember_1" xml:lang="en-US" id="label_AssociatesMember_1">Associates [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatesMember" xlink:to="label_AssociatesMember_1" xlink:title="Label : AssociatesMember to label_AssociatesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="SignificantInvestmentsInAssociatesAxis" xlink:title="SignificantInvestmentsInAssociatesAxis" />
    <link:label xlink:type="resource" xlink:label="label_SignificantInvestmentsInAssociatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SignificantInvestmentsInAssociatesAxis" xml:lang="en-US" id="label_SignificantInvestmentsInAssociatesAxis">Associates [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInAssociatesAxis" xlink:to="label_SignificantInvestmentsInAssociatesAxis" xlink:title="Label : SignificantInvestmentsInAssociatesAxis to label_SignificantInvestmentsInAssociatesAxis" />
    <link:label xlink:type="resource" xlink:label="label_SignificantInvestmentsInAssociatesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SignificantInvestmentsInAssociatesAxis_1" xml:lang="en-US" id="label_SignificantInvestmentsInAssociatesAxis_1">Associates [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantInvestmentsInAssociatesAxis" xlink:to="label_SignificantInvestmentsInAssociatesAxis_1" xlink:title="Label : SignificantInvestmentsInAssociatesAxis to label_SignificantInvestmentsInAssociatesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="EntitysTotalForAssociatesMember" xlink:title="EntitysTotalForAssociatesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntitysTotalForAssociatesMember" xml:lang="en-US" id="label_EntitysTotalForAssociatesMember">Entity's total for associates [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForAssociatesMember" xlink:to="label_EntitysTotalForAssociatesMember" xlink:title="Label : EntitysTotalForAssociatesMember to label_EntitysTotalForAssociatesMember" />
    <link:label xlink:type="resource" xlink:label="label_EntitysTotalForAssociatesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EntitysTotalForAssociatesMember_1" xml:lang="en-US" id="label_EntitysTotalForAssociatesMember_1">Entity's total for associates [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntitysTotalForAssociatesMember" xlink:to="label_EntitysTotalForAssociatesMember_1" xlink:title="Label : EntitysTotalForAssociatesMember to label_EntitysTotalForAssociatesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RadarIIPropriedadesAgricolasSAMember" xlink:label="RadarIIPropriedadesAgricolasSAMember" xlink:title="RadarIIPropriedadesAgricolasSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarIIPropriedadesAgricolasSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RadarIIPropriedadesAgricolasSAMember" xml:lang="en-US" id="label_RadarIIPropriedadesAgricolasSAMember">Radar I I Propriedades Agricolas S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarIIPropriedadesAgricolasSAMember" xlink:to="label_RadarIIPropriedadesAgricolasSAMember" xlink:title="Label : RadarIIPropriedadesAgricolasSAMember to label_RadarIIPropriedadesAgricolasSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarIIPropriedadesAgricolasSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RadarIIPropriedadesAgricolasSAMember_1" xml:lang="en-US" id="label_RadarIIPropriedadesAgricolasSAMember_1">Radar II Propriedades Agricolas S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarIIPropriedadesAgricolasSAMember" xlink:to="label_RadarIIPropriedadesAgricolasSAMember_1" xlink:title="Label : RadarIIPropriedadesAgricolasSAMember to label_RadarIIPropriedadesAgricolasSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RadarIIPropriedadesAgricolasSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RadarIIPropriedadesAgricolasSAMember_2" xml:lang="en-US" id="label_RadarIIPropriedadesAgricolasSAMember_2">Radar II propriedades agricolas s.a.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarIIPropriedadesAgricolasSAMember" xlink:to="label_RadarIIPropriedadesAgricolasSAMember_2" xlink:title="Label : RadarIIPropriedadesAgricolasSAMember to label_RadarIIPropriedadesAgricolasSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RadarPropriedadesAgricolasSAMember" xlink:label="RadarPropriedadesAgricolasSAMember" xlink:title="RadarPropriedadesAgricolasSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarPropriedadesAgricolasSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RadarPropriedadesAgricolasSAMember" xml:lang="en-US" id="label_RadarPropriedadesAgricolasSAMember">Radar Propriedades Agricolas S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarPropriedadesAgricolasSAMember" xlink:to="label_RadarPropriedadesAgricolasSAMember" xlink:title="Label : RadarPropriedadesAgricolasSAMember to label_RadarPropriedadesAgricolasSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarPropriedadesAgricolasSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RadarPropriedadesAgricolasSAMember_1" xml:lang="en-US" id="label_RadarPropriedadesAgricolasSAMember_1">Radar Propriedades Agricolas S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarPropriedadesAgricolasSAMember" xlink:to="label_RadarPropriedadesAgricolasSAMember_1" xlink:title="Label : RadarPropriedadesAgricolasSAMember to label_RadarPropriedadesAgricolasSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RadarPropriedadesAgricolasSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RadarPropriedadesAgricolasSAMember_2" xml:lang="en-US" id="label_RadarPropriedadesAgricolasSAMember_2">Radar Propriedades Agricolas S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarPropriedadesAgricolasSAMember" xlink:to="label_RadarPropriedadesAgricolasSAMember_2" xlink:title="Label : RadarPropriedadesAgricolasSAMember to label_RadarPropriedadesAgricolasSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TellusBrasilParticipacoesSAMember" xlink:label="TellusBrasilParticipacoesSAMember" xlink:title="TellusBrasilParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TellusBrasilParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TellusBrasilParticipacoesSAMember" xml:lang="en-US" id="label_TellusBrasilParticipacoesSAMember">Tellus Brasil Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TellusBrasilParticipacoesSAMember" xlink:to="label_TellusBrasilParticipacoesSAMember" xlink:title="Label : TellusBrasilParticipacoesSAMember to label_TellusBrasilParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TellusBrasilParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TellusBrasilParticipacoesSAMember_1" xml:lang="en-US" id="label_TellusBrasilParticipacoesSAMember_1">Tellus Brasil Participacoes S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TellusBrasilParticipacoesSAMember" xlink:to="label_TellusBrasilParticipacoesSAMember_1" xlink:title="Label : TellusBrasilParticipacoesSAMember to label_TellusBrasilParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TellusBrasilParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TellusBrasilParticipacoesSAMember_2" xml:lang="en-US" id="label_TellusBrasilParticipacoesSAMember_2">Tellus brasil participacoes s.a.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TellusBrasilParticipacoesSAMember" xlink:to="label_TellusBrasilParticipacoesSAMember_2" xlink:title="Label : TellusBrasilParticipacoesSAMember to label_TellusBrasilParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherInvestmentsMember" xlink:label="OtherInvestmentsMember" xlink:title="OtherInvestmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherInvestmentsMember" xml:lang="en-US" id="label_OtherInvestmentsMember">Other investments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInvestmentsMember" xlink:to="label_OtherInvestmentsMember" xlink:title="Label : OtherInvestmentsMember to label_OtherInvestmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherInvestmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherInvestmentsMember_1" xml:lang="en-US" id="label_OtherInvestmentsMember_1">Other investments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInvestmentsMember" xlink:to="label_OtherInvestmentsMember_1" xlink:title="Label : OtherInvestmentsMember to label_OtherInvestmentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherInvestmentsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherInvestmentsMember_2" xml:lang="en-US" id="label_OtherInvestmentsMember_2">Other investments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInvestmentsMember" xlink:to="label_OtherInvestmentsMember_2" xlink:title="Label : OtherInvestmentsMember to label_OtherInvestmentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestOfCosanLogisticaSaMember" xlink:label="InterestOfCosanLogisticaSaMember" xlink:title="InterestOfCosanLogisticaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_InterestOfCosanLogisticaSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestOfCosanLogisticaSaMember" xml:lang="en-US" id="label_InterestOfCosanLogisticaSaMember">Interest Of Cosan Logistica SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOfCosanLogisticaSaMember" xlink:to="label_InterestOfCosanLogisticaSaMember" xlink:title="Label : InterestOfCosanLogisticaSaMember to label_InterestOfCosanLogisticaSaMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompanhiaDeGasDeSaoPauloComgasMember" xlink:label="CompanhiaDeGasDeSaoPauloComgasMember" xlink:title="CompanhiaDeGasDeSaoPauloComgasMember" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDeSaoPauloComgasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompanhiaDeGasDeSaoPauloComgasMember" xml:lang="en-US" id="label_CompanhiaDeGasDeSaoPauloComgasMember">Companhia De Gas De Sao Paulo COMGAS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDeSaoPauloComgasMember" xlink:to="label_CompanhiaDeGasDeSaoPauloComgasMember" xlink:title="Label : CompanhiaDeGasDeSaoPauloComgasMember to label_CompanhiaDeGasDeSaoPauloComgasMember" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDeSaoPauloComgasMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompanhiaDeGasDeSaoPauloComgasMember_1" xml:lang="en-US" id="label_CompanhiaDeGasDeSaoPauloComgasMember_1">Companhia de Gas de Sao Paulo &#x2013; COMGAS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDeSaoPauloComgasMember" xlink:to="label_CompanhiaDeGasDeSaoPauloComgasMember_1" xlink:title="Label : CompanhiaDeGasDeSaoPauloComgasMember to label_CompanhiaDeGasDeSaoPauloComgasMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDeSaoPauloComgasMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompanhiaDeGasDeSaoPauloComgasMember_2" xml:lang="en-US" id="label_CompanhiaDeGasDeSaoPauloComgasMember_2">Companhia de Gas de Sao Paulo &#x2013; COMGAS [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDeSaoPauloComgasMember" xlink:to="label_CompanhiaDeGasDeSaoPauloComgasMember_2" xlink:title="Label : CompanhiaDeGasDeSaoPauloComgasMember to label_CompanhiaDeGasDeSaoPauloComgasMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompassGasEEnergiaSAMember" xlink:label="CompassGasEEnergiaSAMember" xlink:title="CompassGasEEnergiaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompassGasEEnergiaSAMember" xml:lang="en-US" id="label_CompassGasEEnergiaSAMember">Compass G&#xE1;s e Energia S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaSAMember" xlink:to="label_CompassGasEEnergiaSAMember" xlink:title="Label : CompassGasEEnergiaSAMember to label_CompassGasEEnergiaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompassGasEEnergiaSAMember_1" xml:lang="en-US" id="label_CompassGasEEnergiaSAMember_1">This member stands for the information pertaining to Compass G&#xE1;s e Energia S.A., a subsidiary of the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaSAMember" xlink:to="label_CompassGasEEnergiaSAMember_1" xlink:title="Label : CompassGasEEnergiaSAMember to label_CompassGasEEnergiaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompassGasEEnergiaSAMember_2" xml:lang="en-US" id="label_CompassGasEEnergiaSAMember_2">Compass Gas E Energia S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaSAMember" xlink:to="label_CompassGasEEnergiaSAMember_2" xlink:title="Label : CompassGasEEnergiaSAMember to label_CompassGasEEnergiaSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaSAMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CompassGasEEnergiaSAMember_3" xml:lang="en-US" id="label_CompassGasEEnergiaSAMember_3">Compass G&#xE1;s e Energia [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaSAMember" xlink:to="label_CompassGasEEnergiaSAMember_3" xlink:title="Label : CompassGasEEnergiaSAMember to label_CompassGasEEnergiaSAMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanCaymanIILimitedMember" xlink:label="CosanCaymanIILimitedMember" xlink:title="CosanCaymanIILimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanCaymanIILimitedMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CosanCaymanIILimitedMember" xml:lang="en-US" id="label_CosanCaymanIILimitedMember">Cosan Cayman II Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCaymanIILimitedMember" xlink:to="label_CosanCaymanIILimitedMember" xlink:title="Label : CosanCaymanIILimitedMember to label_CosanCaymanIILimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanCaymanIILimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanCaymanIILimitedMember_1" xml:lang="en-US" id="label_CosanCaymanIILimitedMember_1">Cosan Cayman I I Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCaymanIILimitedMember" xlink:to="label_CosanCaymanIILimitedMember_1" xlink:title="Label : CosanCaymanIILimitedMember to label_CosanCaymanIILimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanCaymanIILimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanCaymanIILimitedMember_2" xml:lang="en-US" id="label_CosanCaymanIILimitedMember_2">Cosan Cayman II Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCaymanIILimitedMember" xlink:to="label_CosanCaymanIILimitedMember_2" xlink:title="Label : CosanCaymanIILimitedMember to label_CosanCaymanIILimitedMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CosanCaymanIILimitedMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanCaymanIILimitedMember_3" xml:lang="en-US" id="label_CosanCaymanIILimitedMember_3">Cosan Cayman II Limited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCaymanIILimitedMember" xlink:to="label_CosanCaymanIILimitedMember_3" xlink:title="Label : CosanCaymanIILimitedMember to label_CosanCaymanIILimitedMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanGlobalLimitedMember" xlink:label="CosanGlobalLimitedMember" xlink:title="CosanGlobalLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanGlobalLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanGlobalLimitedMember" xml:lang="en-US" id="label_CosanGlobalLimitedMember">Cosan Global Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanGlobalLimitedMember" xlink:to="label_CosanGlobalLimitedMember" xlink:title="Label : CosanGlobalLimitedMember to label_CosanGlobalLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanGlobalLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanGlobalLimitedMember_1" xml:lang="en-US" id="label_CosanGlobalLimitedMember_1">Cosan Global Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanGlobalLimitedMember" xlink:to="label_CosanGlobalLimitedMember_1" xlink:title="Label : CosanGlobalLimitedMember to label_CosanGlobalLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanGlobalLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanGlobalLimitedMember_2" xml:lang="en-US" id="label_CosanGlobalLimitedMember_2">Cosan Global Limited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanGlobalLimitedMember" xlink:to="label_CosanGlobalLimitedMember_2" xlink:title="Label : CosanGlobalLimitedMember to label_CosanGlobalLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanInvestimentoseParticipacoesSAMember" xlink:label="CosanInvestimentoseParticipacoesSAMember" xlink:title="CosanInvestimentoseParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentoseParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanInvestimentoseParticipacoesSAMember" xml:lang="en-US" id="label_CosanInvestimentoseParticipacoesSAMember">Cosan Investimentos e Participacoes S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentoseParticipacoesSAMember" xlink:to="label_CosanInvestimentoseParticipacoesSAMember" xlink:title="Label : CosanInvestimentoseParticipacoesSAMember to label_CosanInvestimentoseParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentoseParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanInvestimentoseParticipacoesSAMember_1" xml:lang="en-US" id="label_CosanInvestimentoseParticipacoesSAMember_1">Cosan Investimentose Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentoseParticipacoesSAMember" xlink:to="label_CosanInvestimentoseParticipacoesSAMember_1" xlink:title="Label : CosanInvestimentoseParticipacoesSAMember to label_CosanInvestimentoseParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentoseParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanInvestimentoseParticipacoesSAMember_2" xml:lang="en-US" id="label_CosanInvestimentoseParticipacoesSAMember_2">Cosan Investimentose Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentoseParticipacoesSAMember" xlink:to="label_CosanInvestimentoseParticipacoesSAMember_2" xlink:title="Label : CosanInvestimentoseParticipacoesSAMember to label_CosanInvestimentoseParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLuxembourgSAMember" xlink:label="CosanLuxembourgSAMember" xlink:title="CosanLuxembourgSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLuxembourgSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLuxembourgSAMember" xml:lang="en-US" id="label_CosanLuxembourgSAMember">Cosan Luxembourg S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLuxembourgSAMember" xlink:to="label_CosanLuxembourgSAMember" xlink:title="Label : CosanLuxembourgSAMember to label_CosanLuxembourgSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLuxembourgSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLuxembourgSAMember_1" xml:lang="en-US" id="label_CosanLuxembourgSAMember_1">Cosan Luxembourg S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLuxembourgSAMember" xlink:to="label_CosanLuxembourgSAMember_1" xlink:title="Label : CosanLuxembourgSAMember to label_CosanLuxembourgSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLuxembourgSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLuxembourgSAMember_2" xml:lang="en-US" id="label_CosanLuxembourgSAMember_2">Cosan Luxembourg S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLuxembourgSAMember" xlink:to="label_CosanLuxembourgSAMember_2" xlink:title="Label : CosanLuxembourgSAMember to label_CosanLuxembourgSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanOverseasLimitedMember" xlink:label="CosanOverseasLimitedMember" xlink:title="CosanOverseasLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanOverseasLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanOverseasLimitedMember" xml:lang="en-US" id="label_CosanOverseasLimitedMember">Cosan Overseas Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanOverseasLimitedMember" xlink:to="label_CosanOverseasLimitedMember" xlink:title="Label : CosanOverseasLimitedMember to label_CosanOverseasLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanOverseasLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanOverseasLimitedMember_1" xml:lang="en-US" id="label_CosanOverseasLimitedMember_1">Cosan Overseas Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanOverseasLimitedMember" xlink:to="label_CosanOverseasLimitedMember_1" xlink:title="Label : CosanOverseasLimitedMember to label_CosanOverseasLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanOverseasLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanOverseasLimitedMember_2" xml:lang="en-US" id="label_CosanOverseasLimitedMember_2">Cosan Overseas Limited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanOverseasLimitedMember" xlink:to="label_CosanOverseasLimitedMember_2" xlink:title="Label : CosanOverseasLimitedMember to label_CosanOverseasLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PasadenaEmpreendimentoseParticipacoesSAMember" xlink:label="PasadenaEmpreendimentoseParticipacoesSAMember" xlink:title="PasadenaEmpreendimentoseParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_PasadenaEmpreendimentoseParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PasadenaEmpreendimentoseParticipacoesSAMember" xml:lang="en-US" id="label_PasadenaEmpreendimentoseParticipacoesSAMember">Pasadena Empreendimentose Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PasadenaEmpreendimentoseParticipacoesSAMember" xlink:to="label_PasadenaEmpreendimentoseParticipacoesSAMember" xlink:title="Label : PasadenaEmpreendimentoseParticipacoesSAMember to label_PasadenaEmpreendimentoseParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_PasadenaEmpreendimentoseParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PasadenaEmpreendimentoseParticipacoesSAMember_1" xml:lang="en-US" id="label_PasadenaEmpreendimentoseParticipacoesSAMember_1">Pasadena Empreendimentose Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PasadenaEmpreendimentoseParticipacoesSAMember" xlink:to="label_PasadenaEmpreendimentoseParticipacoesSAMember_1" xlink:title="Label : PasadenaEmpreendimentoseParticipacoesSAMember to label_PasadenaEmpreendimentoseParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PasadenaEmpreendimentoseParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PasadenaEmpreendimentoseParticipacoesSAMember_2" xml:lang="en-US" id="label_PasadenaEmpreendimentoseParticipacoesSAMember_2">Pasadena Empreendimentos e Participacoes S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PasadenaEmpreendimentoseParticipacoesSAMember" xlink:to="label_PasadenaEmpreendimentoseParticipacoesSAMember_2" xlink:title="Label : PasadenaEmpreendimentoseParticipacoesSAMember to label_PasadenaEmpreendimentoseParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaylySolucoesDePagamentosSAMember" xlink:label="PaylySolucoesDePagamentosSAMember" xlink:title="PaylySolucoesDePagamentosSAMember" />
    <link:label xlink:type="resource" xlink:label="label_PaylySolucoesDePagamentosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaylySolucoesDePagamentosSAMember" xml:lang="en-US" id="label_PaylySolucoesDePagamentosSAMember">Payly Solucoes de Pagamentos S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaylySolucoesDePagamentosSAMember" xlink:to="label_PaylySolucoesDePagamentosSAMember" xlink:title="Label : PaylySolucoesDePagamentosSAMember to label_PaylySolucoesDePagamentosSAMember" />
    <link:label xlink:type="resource" xlink:label="label_PaylySolucoesDePagamentosSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PaylySolucoesDePagamentosSAMember_1" xml:lang="en-US" id="label_PaylySolucoesDePagamentosSAMember_1">Payly Solucoes de Pagamentos S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaylySolucoesDePagamentosSAMember" xlink:to="label_PaylySolucoesDePagamentosSAMember_1" xlink:title="Label : PaylySolucoesDePagamentosSAMember to label_PaylySolucoesDePagamentosSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PaylySolucoesDePagamentosSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PaylySolucoesDePagamentosSAMember_2" xml:lang="en-US" id="label_PaylySolucoesDePagamentosSAMember_2">Payly Solucoes de Pagamentos S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaylySolucoesDePagamentosSAMember" xlink:to="label_PaylySolucoesDePagamentosSAMember_2" xlink:title="Label : PaylySolucoesDePagamentosSAMember to label_PaylySolucoesDePagamentosSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MooveLubricantsLimitedMember" xlink:label="MooveLubricantsLimitedMember" xlink:title="MooveLubricantsLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_MooveLubricantsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MooveLubricantsLimitedMember" xml:lang="en-US" id="label_MooveLubricantsLimitedMember">Moove Lubricants Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveLubricantsLimitedMember" xlink:to="label_MooveLubricantsLimitedMember" xlink:title="Label : MooveLubricantsLimitedMember to label_MooveLubricantsLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_MooveLubricantsLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MooveLubricantsLimitedMember_1" xml:lang="en-US" id="label_MooveLubricantsLimitedMember_1">Moove Lubricants Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveLubricantsLimitedMember" xlink:to="label_MooveLubricantsLimitedMember_1" xlink:title="Label : MooveLubricantsLimitedMember to label_MooveLubricantsLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MooveLubricantsLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MooveLubricantsLimitedMember_2" xml:lang="en-US" id="label_MooveLubricantsLimitedMember_2">Moove Lubricants Limited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveLubricantsLimitedMember" xlink:to="label_MooveLubricantsLimitedMember_2" xlink:title="Label : MooveLubricantsLimitedMember to label_MooveLubricantsLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanCincoSAMember" xlink:label="CosanCincoSAMember" xlink:title="CosanCincoSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanCincoSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanCincoSAMember" xml:lang="en-US" id="label_CosanCincoSAMember">Cosan Cinco S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCincoSAMember" xlink:to="label_CosanCincoSAMember" xlink:title="Label : CosanCincoSAMember to label_CosanCincoSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanCincoSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanCincoSAMember_1" xml:lang="en-US" id="label_CosanCincoSAMember_1">Cosan Cinco S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCincoSAMember" xlink:to="label_CosanCincoSAMember_1" xlink:title="Label : CosanCincoSAMember to label_CosanCincoSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanCincoSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanCincoSAMember_2" xml:lang="en-US" id="label_CosanCincoSAMember_2">Cosan Cinco S.A. [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanCincoSAMember" xlink:to="label_CosanCincoSAMember_2" xlink:title="Label : CosanCincoSAMember to label_CosanCincoSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AirportEnergyLimitedMember" xlink:label="AirportEnergyLimitedMember" xlink:title="AirportEnergyLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_AirportEnergyLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AirportEnergyLimitedMember" xml:lang="en-US" id="label_AirportEnergyLimitedMember">Airport Energy Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AirportEnergyLimitedMember" xlink:to="label_AirportEnergyLimitedMember" xlink:title="Label : AirportEnergyLimitedMember to label_AirportEnergyLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_AirportEnergyLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AirportEnergyLimitedMember_1" xml:lang="en-US" id="label_AirportEnergyLimitedMember_1">Airport Energy Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AirportEnergyLimitedMember" xlink:to="label_AirportEnergyLimitedMember_1" xlink:title="Label : AirportEnergyLimitedMember to label_AirportEnergyLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AirportEnergyLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AirportEnergyLimitedMember_2" xml:lang="en-US" id="label_AirportEnergyLimitedMember_2">Airport Energy Limited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AirportEnergyLimitedMember" xlink:to="label_AirportEnergyLimitedMember_2" xlink:title="Label : AirportEnergyLimitedMember to label_AirportEnergyLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AirportEnergyServicesLimitedMember" xlink:label="AirportEnergyServicesLimitedMember" xlink:title="AirportEnergyServicesLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_AirportEnergyServicesLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AirportEnergyServicesLimitedMember" xml:lang="en-US" id="label_AirportEnergyServicesLimitedMember">Airport Energy Services Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AirportEnergyServicesLimitedMember" xlink:to="label_AirportEnergyServicesLimitedMember" xlink:title="Label : AirportEnergyServicesLimitedMember to label_AirportEnergyServicesLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_AirportEnergyServicesLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AirportEnergyServicesLimitedMember_1" xml:lang="en-US" id="label_AirportEnergyServicesLimitedMember_1">Airport Energy Services Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AirportEnergyServicesLimitedMember" xlink:to="label_AirportEnergyServicesLimitedMember_1" xlink:title="Label : AirportEnergyServicesLimitedMember to label_AirportEnergyServicesLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AirportEnergyServicesLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AirportEnergyServicesLimitedMember_2" xml:lang="en-US" id="label_AirportEnergyServicesLimitedMember_2">Airport Energy Services Limited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AirportEnergyServicesLimitedMember" xlink:to="label_AirportEnergyServicesLimitedMember_2" xlink:title="Label : AirportEnergyServicesLimitedMember to label_AirportEnergyServicesLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WessesxPetroleumLimitedMember" xlink:label="WessesxPetroleumLimitedMember" xlink:title="WessesxPetroleumLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_WessesxPetroleumLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WessesxPetroleumLimitedMember" xml:lang="en-US" id="label_WessesxPetroleumLimitedMember">Wessesx Petroleum Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WessesxPetroleumLimitedMember" xlink:to="label_WessesxPetroleumLimitedMember" xlink:title="Label : WessesxPetroleumLimitedMember to label_WessesxPetroleumLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_WessesxPetroleumLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WessesxPetroleumLimitedMember_1" xml:lang="en-US" id="label_WessesxPetroleumLimitedMember_1">Wessesx Petroleum Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WessesxPetroleumLimitedMember" xlink:to="label_WessesxPetroleumLimitedMember_1" xlink:title="Label : WessesxPetroleumLimitedMember to label_WessesxPetroleumLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_WessesxPetroleumLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WessesxPetroleumLimitedMember_2" xml:lang="en-US" id="label_WessesxPetroleumLimitedMember_2">Wessesx Petroleum Limited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WessesxPetroleumLimitedMember" xlink:to="label_WessesxPetroleumLimitedMember_2" xlink:title="Label : WessesxPetroleumLimitedMember to label_WessesxPetroleumLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StanbridgeGroupLimitedMember" xlink:label="StanbridgeGroupLimitedMember" xlink:title="StanbridgeGroupLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_StanbridgeGroupLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StanbridgeGroupLimitedMember" xml:lang="en-US" id="label_StanbridgeGroupLimitedMember">Stanbridge Group Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StanbridgeGroupLimitedMember" xlink:to="label_StanbridgeGroupLimitedMember" xlink:title="Label : StanbridgeGroupLimitedMember to label_StanbridgeGroupLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_StanbridgeGroupLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StanbridgeGroupLimitedMember_1" xml:lang="en-US" id="label_StanbridgeGroupLimitedMember_1">Stanbridge Group Limited [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StanbridgeGroupLimitedMember" xlink:to="label_StanbridgeGroupLimitedMember_1" xlink:title="Label : StanbridgeGroupLimitedMember to label_StanbridgeGroupLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_StanbridgeGroupLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StanbridgeGroupLimitedMember_2" xml:lang="en-US" id="label_StanbridgeGroupLimitedMember_2">Stanbridge Group Limited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StanbridgeGroupLimitedMember" xlink:to="label_StanbridgeGroupLimitedMember_2" xlink:title="Label : StanbridgeGroupLimitedMember to label_StanbridgeGroupLimitedMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLubricantsEspanaSLUMember" xlink:label="CosanLubricantsEspanaSLUMember" xlink:title="CosanLubricantsEspanaSLUMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubricantsEspanaSLUMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLubricantsEspanaSLUMember" xml:lang="en-US" id="label_CosanLubricantsEspanaSLUMember">Cosan Lubricants Espana S L U [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubricantsEspanaSLUMember" xlink:to="label_CosanLubricantsEspanaSLUMember" xlink:title="Label : CosanLubricantsEspanaSLUMember to label_CosanLubricantsEspanaSLUMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubricantsEspanaSLUMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLubricantsEspanaSLUMember_1" xml:lang="en-US" id="label_CosanLubricantsEspanaSLUMember_1">This member stands for information pertaining to Cosan Lubricants Espana S.L.U..</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubricantsEspanaSLUMember" xlink:to="label_CosanLubricantsEspanaSLUMember_1" xlink:title="Label : CosanLubricantsEspanaSLUMember to label_CosanLubricantsEspanaSLUMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubricantsEspanaSLUMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLubricantsEspanaSLUMember_2" xml:lang="en-US" id="label_CosanLubricantsEspanaSLUMember_2">Cosan Lubricants Espana S.L.U. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubricantsEspanaSLUMember" xlink:to="label_CosanLubricantsEspanaSLUMember_2" xlink:title="Label : CosanLubricantsEspanaSLUMember to label_CosanLubricantsEspanaSLUMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TTAMember" xlink:label="TTAMember" xlink:title="TTAMember" />
    <link:label xlink:type="resource" xlink:label="label_TTAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TTAMember" xml:lang="en-US" id="label_TTAMember">TTA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TTAMember" xlink:to="label_TTAMember" xlink:title="Label : TTAMember to label_TTAMember" />
    <link:label xlink:type="resource" xlink:label="label_TTAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TTAMember_1" xml:lang="en-US" id="label_TTAMember_1">TTA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TTAMember" xlink:to="label_TTAMember_1" xlink:title="Label : TTAMember to label_TTAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TTAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TTAMember_2" xml:lang="en-US" id="label_TTAMember_2">TTA .</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TTAMember" xlink:to="label_TTAMember_2" xlink:title="Label : TTAMember to label_TTAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLubrificantesSRLMember" xlink:label="CosanLubrificantesSRLMember" xlink:title="CosanLubrificantesSRLMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubrificantesSRLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLubrificantesSRLMember" xml:lang="en-US" id="label_CosanLubrificantesSRLMember">Cosan Lubrificantes S.R.L [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubrificantesSRLMember" xlink:to="label_CosanLubrificantesSRLMember" xlink:title="Label : CosanLubrificantesSRLMember to label_CosanLubrificantesSRLMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubrificantesSRLMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLubrificantesSRLMember_1" xml:lang="en-US" id="label_CosanLubrificantesSRLMember_1">Cosan Lubrificantes S.R.L [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubrificantesSRLMember" xlink:to="label_CosanLubrificantesSRLMember_1" xlink:title="Label : CosanLubrificantesSRLMember to label_CosanLubrificantesSRLMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubrificantesSRLMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLubrificantesSRLMember_2" xml:lang="en-US" id="label_CosanLubrificantesSRLMember_2">Cosan Lubrificantes S.R.L.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubrificantesSRLMember" xlink:to="label_CosanLubrificantesSRLMember_2" xlink:title="Label : CosanLubrificantesSRLMember to label_CosanLubrificantesSRLMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LubrigrupoiiMember" xlink:label="LubrigrupoiiMember" xlink:title="LubrigrupoiiMember" />
    <link:label xlink:type="resource" xlink:label="label_LubrigrupoiiMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LubrigrupoiiMember" xml:lang="en-US" id="label_LubrigrupoiiMember">LubrigrupoII [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubrigrupoiiMember" xlink:to="label_LubrigrupoiiMember" xlink:title="Label : LubrigrupoiiMember to label_LubrigrupoiiMember" />
    <link:label xlink:type="resource" xlink:label="label_LubrigrupoiiMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LubrigrupoiiMember_1" xml:lang="en-US" id="label_LubrigrupoiiMember_1">LubrigrupoII [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubrigrupoiiMember" xlink:to="label_LubrigrupoiiMember_1" xlink:title="Label : LubrigrupoiiMember to label_LubrigrupoiiMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LubrigrupoiiMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LubrigrupoiiMember_2" xml:lang="en-US" id="label_LubrigrupoiiMember_2">LubrigrupoII.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubrigrupoiiMember" xlink:to="label_LubrigrupoiiMember_2" xlink:title="Label : LubrigrupoiiMember to label_LubrigrupoiiMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommaOilAndChemicalsMarketingSRLMember" xlink:label="CommaOilAndChemicalsMarketingSRLMember" xlink:title="CommaOilAndChemicalsMarketingSRLMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaOilAndChemicalsMarketingSRLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommaOilAndChemicalsMarketingSRLMember" xml:lang="en-US" id="label_CommaOilAndChemicalsMarketingSRLMember">Comma Oil and Chemicals Marketing S R L [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOilAndChemicalsMarketingSRLMember" xlink:to="label_CommaOilAndChemicalsMarketingSRLMember" xlink:title="Label : CommaOilAndChemicalsMarketingSRLMember to label_CommaOilAndChemicalsMarketingSRLMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaOilAndChemicalsMarketingSRLMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommaOilAndChemicalsMarketingSRLMember_1" xml:lang="en-US" id="label_CommaOilAndChemicalsMarketingSRLMember_1">This member stands for information pertaining to Comma Oil and Chemicals Marketing SRL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOilAndChemicalsMarketingSRLMember" xlink:to="label_CommaOilAndChemicalsMarketingSRLMember_1" xlink:title="Label : CommaOilAndChemicalsMarketingSRLMember to label_CommaOilAndChemicalsMarketingSRLMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommaOilAndChemicalsMarketingSRLMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommaOilAndChemicalsMarketingSRLMember_2" xml:lang="en-US" id="label_CommaOilAndChemicalsMarketingSRLMember_2">Comma Oil &amp; Chemicals Marketing SRL [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOilAndChemicalsMarketingSRLMember" xlink:to="label_CommaOilAndChemicalsMarketingSRLMember_2" xlink:title="Label : CommaOilAndChemicalsMarketingSRLMember to label_CommaOilAndChemicalsMarketingSRLMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommaOtomotivYagVeKimyasallariMember" xlink:label="CommaOtomotivYagVeKimyasallariMember" xlink:title="CommaOtomotivYagVeKimyasallariMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaOtomotivYagVeKimyasallariMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommaOtomotivYagVeKimyasallariMember" xml:lang="en-US" id="label_CommaOtomotivYagVeKimyasallariMember">Comma Otomotiv Yag Ve Kimyasallari [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOtomotivYagVeKimyasallariMember" xlink:to="label_CommaOtomotivYagVeKimyasallariMember" xlink:title="Label : CommaOtomotivYagVeKimyasallariMember to label_CommaOtomotivYagVeKimyasallariMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaOtomotivYagVeKimyasallariMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommaOtomotivYagVeKimyasallariMember_1" xml:lang="en-US" id="label_CommaOtomotivYagVeKimyasallariMember_1">This member stands for information pertaining to Comma Otomotiv Yag Ve Kimyasallari.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOtomotivYagVeKimyasallariMember" xlink:to="label_CommaOtomotivYagVeKimyasallariMember_1" xlink:title="Label : CommaOtomotivYagVeKimyasallariMember to label_CommaOtomotivYagVeKimyasallariMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommaOtomotivYagVeKimyasallariMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommaOtomotivYagVeKimyasallariMember_2" xml:lang="en-US" id="label_CommaOtomotivYagVeKimyasallariMember_2">Comma Otomotiv Yag Ve Kimyasallari [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOtomotivYagVeKimyasallariMember" xlink:to="label_CommaOtomotivYagVeKimyasallariMember_2" xlink:title="Label : CommaOtomotivYagVeKimyasallariMember to label_CommaOtomotivYagVeKimyasallariMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PazarlamaLimitedSirketiMember" xlink:label="PazarlamaLimitedSirketiMember" xlink:title="PazarlamaLimitedSirketiMember" />
    <link:label xlink:type="resource" xlink:label="label_PazarlamaLimitedSirketiMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PazarlamaLimitedSirketiMember" xml:lang="en-US" id="label_PazarlamaLimitedSirketiMember">Pazarlama Limited Sirketi [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PazarlamaLimitedSirketiMember" xlink:to="label_PazarlamaLimitedSirketiMember" xlink:title="Label : PazarlamaLimitedSirketiMember to label_PazarlamaLimitedSirketiMember" />
    <link:label xlink:type="resource" xlink:label="label_PazarlamaLimitedSirketiMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PazarlamaLimitedSirketiMember_1" xml:lang="en-US" id="label_PazarlamaLimitedSirketiMember_1">This member stands for information pertaining to Pazarlama Limited Sirketi.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PazarlamaLimitedSirketiMember" xlink:to="label_PazarlamaLimitedSirketiMember_1" xlink:title="Label : PazarlamaLimitedSirketiMember to label_PazarlamaLimitedSirketiMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PazarlamaLimitedSirketiMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PazarlamaLimitedSirketiMember_2" xml:lang="en-US" id="label_PazarlamaLimitedSirketiMember_2">Pazarlama Limited Sirketi [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PazarlamaLimitedSirketiMember" xlink:to="label_PazarlamaLimitedSirketiMember_2" xlink:title="Label : PazarlamaLimitedSirketiMember to label_PazarlamaLimitedSirketiMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommaOilAndChemicalsMarketingBVMember" xlink:label="CommaOilAndChemicalsMarketingBVMember" xlink:title="CommaOilAndChemicalsMarketingBVMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaOilAndChemicalsMarketingBVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommaOilAndChemicalsMarketingBVMember" xml:lang="en-US" id="label_CommaOilAndChemicalsMarketingBVMember">Comma Oil and Chemicals Marketing B V [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOilAndChemicalsMarketingBVMember" xlink:to="label_CommaOilAndChemicalsMarketingBVMember" xlink:title="Label : CommaOilAndChemicalsMarketingBVMember to label_CommaOilAndChemicalsMarketingBVMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaOilAndChemicalsMarketingBVMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommaOilAndChemicalsMarketingBVMember_1" xml:lang="en-US" id="label_CommaOilAndChemicalsMarketingBVMember_1">This member stands for information pertaining to Comma Oil and Chemicals Marketing B.V..</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOilAndChemicalsMarketingBVMember" xlink:to="label_CommaOilAndChemicalsMarketingBVMember_1" xlink:title="Label : CommaOilAndChemicalsMarketingBVMember to label_CommaOilAndChemicalsMarketingBVMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommaOilAndChemicalsMarketingBVMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommaOilAndChemicalsMarketingBVMember_2" xml:lang="en-US" id="label_CommaOilAndChemicalsMarketingBVMember_2">Comma Oil &amp; Chemicals Marketing B.V. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaOilAndChemicalsMarketingBVMember" xlink:to="label_CommaOilAndChemicalsMarketingBVMember_2" xlink:title="Label : CommaOilAndChemicalsMarketingBVMember to label_CommaOilAndChemicalsMarketingBVMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommercialLubricantsMooveCorpMember" xlink:label="CommercialLubricantsMooveCorpMember" xlink:title="CommercialLubricantsMooveCorpMember" />
    <link:label xlink:type="resource" xlink:label="label_CommercialLubricantsMooveCorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommercialLubricantsMooveCorpMember" xml:lang="en-US" id="label_CommercialLubricantsMooveCorpMember">Commercial Lubricants Moove Corp [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialLubricantsMooveCorpMember" xlink:to="label_CommercialLubricantsMooveCorpMember" xlink:title="Label : CommercialLubricantsMooveCorpMember to label_CommercialLubricantsMooveCorpMember" />
    <link:label xlink:type="resource" xlink:label="label_CommercialLubricantsMooveCorpMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommercialLubricantsMooveCorpMember_1" xml:lang="en-US" id="label_CommercialLubricantsMooveCorpMember_1">Commercial Lubricants Moove Corp [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialLubricantsMooveCorpMember" xlink:to="label_CommercialLubricantsMooveCorpMember_1" xlink:title="Label : CommercialLubricantsMooveCorpMember to label_CommercialLubricantsMooveCorpMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommercialLubricantsMooveCorpMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommercialLubricantsMooveCorpMember_2" xml:lang="en-US" id="label_CommercialLubricantsMooveCorpMember_2">Commercial Lubricants Moove Corp [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialLubricantsMooveCorpMember" xlink:to="label_CommercialLubricantsMooveCorpMember_2" xlink:title="Label : CommercialLubricantsMooveCorpMember to label_CommercialLubricantsMooveCorpMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLubrificanteseEspecialidadesSAMember" xlink:label="CosanLubrificanteseEspecialidadesSAMember" xlink:title="CosanLubrificanteseEspecialidadesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubrificanteseEspecialidadesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLubrificanteseEspecialidadesSAMember" xml:lang="en-US" id="label_CosanLubrificanteseEspecialidadesSAMember">Cosan Lubrificantese Especialidades S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubrificanteseEspecialidadesSAMember" xlink:to="label_CosanLubrificanteseEspecialidadesSAMember" xlink:title="Label : CosanLubrificanteseEspecialidadesSAMember to label_CosanLubrificanteseEspecialidadesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubrificanteseEspecialidadesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLubrificanteseEspecialidadesSAMember_1" xml:lang="en-US" id="label_CosanLubrificanteseEspecialidadesSAMember_1">Cosan Lubrificantese Especialidades S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubrificanteseEspecialidadesSAMember" xlink:to="label_CosanLubrificanteseEspecialidadesSAMember_1" xlink:title="Label : CosanLubrificanteseEspecialidadesSAMember to label_CosanLubrificanteseEspecialidadesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLubrificanteseEspecialidadesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLubrificanteseEspecialidadesSAMember_2" xml:lang="en-US" id="label_CosanLubrificanteseEspecialidadesSAMember_2">Cosan Lubrificantes e Especialidades S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLubrificanteseEspecialidadesSAMember" xlink:to="label_CosanLubrificanteseEspecialidadesSAMember_2" xlink:title="Label : CosanLubrificanteseEspecialidadesSAMember to label_CosanLubrificanteseEspecialidadesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanUSIncMember" xlink:label="CosanUSIncMember" xlink:title="CosanUSIncMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanUSIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanUSIncMember" xml:lang="en-US" id="label_CosanUSIncMember">Cosan U S Inc [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanUSIncMember" xlink:to="label_CosanUSIncMember" xlink:title="Label : CosanUSIncMember to label_CosanUSIncMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanUSIncMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanUSIncMember_1" xml:lang="en-US" id="label_CosanUSIncMember_1">Cosan U.S Inc [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanUSIncMember" xlink:to="label_CosanUSIncMember_1" xlink:title="Label : CosanUSIncMember to label_CosanUSIncMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanUSIncMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanUSIncMember_2" xml:lang="en-US" id="label_CosanUSIncMember_2">Cosan US, Inc.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanUSIncMember" xlink:to="label_CosanUSIncMember_2" xlink:title="Label : CosanUSIncMember to label_CosanUSIncMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:label="IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:title="IlhaTerminalDistribuicaoDeProdutosQuimicosMember" />
    <link:label xlink:type="resource" xlink:label="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xml:lang="en-US" id="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember">Ilha Terminal Distribuicao de Produtos Quimicos [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:to="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:title="Label : IlhaTerminalDistribuicaoDeProdutosQuimicosMember to label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" />
    <link:label xlink:type="resource" xlink:label="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_1" xml:lang="en-US" id="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_1">Ilha Terminal Distribuicao de Produtos Quimicos [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:to="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_1" xlink:title="Label : IlhaTerminalDistribuicaoDeProdutosQuimicosMember to label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_2" xml:lang="en-US" id="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_2">Ilha Terminal Distribuicao de Produtos Quimicos.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IlhaTerminalDistribuicaoDeProdutosQuimicosMember" xlink:to="label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_2" xlink:title="Label : IlhaTerminalDistribuicaoDeProdutosQuimicosMember to label_IlhaTerminalDistribuicaoDeProdutosQuimicosMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ZipLubeSAMember" xlink:label="ZipLubeSAMember" xlink:title="ZipLubeSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ZipLubeSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ZipLubeSAMember" xml:lang="en-US" id="label_ZipLubeSAMember">Zip Lube S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ZipLubeSAMember" xlink:to="label_ZipLubeSAMember" xlink:title="Label : ZipLubeSAMember to label_ZipLubeSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ZipLubeSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ZipLubeSAMember_1" xml:lang="en-US" id="label_ZipLubeSAMember_1">Zip Lube S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ZipLubeSAMember" xlink:to="label_ZipLubeSAMember_1" xlink:title="Label : ZipLubeSAMember to label_ZipLubeSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ZipLubeSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ZipLubeSAMember_2" xml:lang="en-US" id="label_ZipLubeSAMember_2">Zip Lube S A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ZipLubeSAMember" xlink:to="label_ZipLubeSAMember_2" xlink:title="Label : ZipLubeSAMember to label_ZipLubeSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanParaguaySAMember" xlink:label="CosanParaguaySAMember" xlink:title="CosanParaguaySAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanParaguaySAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanParaguaySAMember" xml:lang="en-US" id="label_CosanParaguaySAMember">Cosan Paraguay S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanParaguaySAMember" xlink:to="label_CosanParaguaySAMember" xlink:title="Label : CosanParaguaySAMember to label_CosanParaguaySAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanParaguaySAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanParaguaySAMember_1" xml:lang="en-US" id="label_CosanParaguaySAMember_1">Cosan Paraguay S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanParaguaySAMember" xlink:to="label_CosanParaguaySAMember_1" xlink:title="Label : CosanParaguaySAMember to label_CosanParaguaySAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanParaguaySAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanParaguaySAMember_2" xml:lang="en-US" id="label_CosanParaguaySAMember_2">Cosan Paraguay S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanParaguaySAMember" xlink:to="label_CosanParaguaySAMember_2" xlink:title="Label : CosanParaguaySAMember to label_CosanParaguaySAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaOesteSAMember" xlink:label="RumoMalhaOesteSAMember" xlink:title="RumoMalhaOesteSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaOesteSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaOesteSAMember" xml:lang="en-US" id="label_RumoMalhaOesteSAMember">Rumo Malha Oeste SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaOesteSAMember" xlink:to="label_RumoMalhaOesteSAMember" xlink:title="Label : RumoMalhaOesteSAMember to label_RumoMalhaOesteSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaOesteSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaOesteSAMember_1" xml:lang="en-US" id="label_RumoMalhaOesteSAMember_1">Rumo Malha Oeste S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaOesteSAMember" xlink:to="label_RumoMalhaOesteSAMember_1" xlink:title="Label : RumoMalhaOesteSAMember to label_RumoMalhaOesteSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaOesteSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoMalhaOesteSAMember_2" xml:lang="en-US" id="label_RumoMalhaOesteSAMember_2">Rumo Malha Oeste SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaOesteSAMember" xlink:to="label_RumoMalhaOesteSAMember_2" xlink:title="Label : RumoMalhaOesteSAMember to label_RumoMalhaOesteSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaSulSAMember" xlink:label="RumoMalhaSulSAMember" xlink:title="RumoMalhaSulSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaSulSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaSulSAMember" xml:lang="en-US" id="label_RumoMalhaSulSAMember">Rumo Malha Sul SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaSulSAMember" xlink:to="label_RumoMalhaSulSAMember" xlink:title="Label : RumoMalhaSulSAMember to label_RumoMalhaSulSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaSulSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaSulSAMember_1" xml:lang="en-US" id="label_RumoMalhaSulSAMember_1">Rumo Malha Sul S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaSulSAMember" xlink:to="label_RumoMalhaSulSAMember_1" xlink:title="Label : RumoMalhaSulSAMember to label_RumoMalhaSulSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaSulSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoMalhaSulSAMember_2" xml:lang="en-US" id="label_RumoMalhaSulSAMember_2">Rumo Malha Sul SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaSulSAMember" xlink:to="label_RumoMalhaSulSAMember_2" xlink:title="Label : RumoMalhaSulSAMember to label_RumoMalhaSulSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaNorteSAMember" xlink:label="RumoMalhaNorteSAMember" xlink:title="RumoMalhaNorteSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaNorteSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaNorteSAMember" xml:lang="en-US" id="label_RumoMalhaNorteSAMember">Rumo Malha Norte SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaNorteSAMember" xlink:to="label_RumoMalhaNorteSAMember" xlink:title="Label : RumoMalhaNorteSAMember to label_RumoMalhaNorteSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaNorteSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaNorteSAMember_1" xml:lang="en-US" id="label_RumoMalhaNorteSAMember_1">Rumo Malha Norte SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaNorteSAMember" xlink:to="label_RumoMalhaNorteSAMember_1" xlink:title="Label : RumoMalhaNorteSAMember to label_RumoMalhaNorteSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaNorteSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoMalhaNorteSAMember_2" xml:lang="en-US" id="label_RumoMalhaNorteSAMember_2">Rumo Malha Norte SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaNorteSAMember" xlink:to="label_RumoMalhaNorteSAMember_2" xlink:title="Label : RumoMalhaNorteSAMember to label_RumoMalhaNorteSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaCentralSAMember" xlink:label="RumoMalhaCentralSAMember" xlink:title="RumoMalhaCentralSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaCentralSAMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RumoMalhaCentralSAMember" xml:lang="en-US" id="label_RumoMalhaCentralSAMember">Rumo Malha Central S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaCentralSAMember" xlink:to="label_RumoMalhaCentralSAMember" xlink:title="Label : RumoMalhaCentralSAMember to label_RumoMalhaCentralSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaCentralSAMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaCentralSAMember_1" xml:lang="en-US" id="label_RumoMalhaCentralSAMember_1">Rumo Malha Central S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaCentralSAMember" xlink:to="label_RumoMalhaCentralSAMember_1" xlink:title="Label : RumoMalhaCentralSAMember to label_RumoMalhaCentralSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaCentralSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaCentralSAMember_2" xml:lang="en-US" id="label_RumoMalhaCentralSAMember_2">Rumo Malha Central S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaCentralSAMember" xlink:to="label_RumoMalhaCentralSAMember_2" xlink:title="Label : RumoMalhaCentralSAMember to label_RumoMalhaCentralSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaCentralSAMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoMalhaCentralSAMember_3" xml:lang="en-US" id="label_RumoMalhaCentralSAMember_3">Rumo Malha Central S.A. [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaCentralSAMember" xlink:to="label_RumoMalhaCentralSAMember_3" xlink:title="Label : RumoMalhaCentralSAMember to label_RumoMalhaCentralSAMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ElevacoesPortuariasSAMember" xlink:label="ElevacoesPortuariasSAMember" xlink:title="ElevacoesPortuariasSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ElevacoesPortuariasSAMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ElevacoesPortuariasSAMember" xml:lang="en-US" id="label_ElevacoesPortuariasSAMember">Elevacoes Portuarias [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElevacoesPortuariasSAMember" xlink:to="label_ElevacoesPortuariasSAMember" xlink:title="Label : ElevacoesPortuariasSAMember to label_ElevacoesPortuariasSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ElevacoesPortuariasSAMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ElevacoesPortuariasSAMember_1" xml:lang="en-US" id="label_ElevacoesPortuariasSAMember_1">Elevacoes Portuarias S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElevacoesPortuariasSAMember" xlink:to="label_ElevacoesPortuariasSAMember_1" xlink:title="Label : ElevacoesPortuariasSAMember to label_ElevacoesPortuariasSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ElevacoesPortuariasSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ElevacoesPortuariasSAMember_2" xml:lang="en-US" id="label_ElevacoesPortuariasSAMember_2">Elevacoes Portuarias S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElevacoesPortuariasSAMember" xlink:to="label_ElevacoesPortuariasSAMember_2" xlink:title="Label : ElevacoesPortuariasSAMember to label_ElevacoesPortuariasSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_ElevacoesPortuariasSAMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ElevacoesPortuariasSAMember_3" xml:lang="en-US" id="label_ElevacoesPortuariasSAMember_3">Elevacoes Portuarias S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElevacoesPortuariasSAMember" xlink:to="label_ElevacoesPortuariasSAMember_3" xlink:title="Label : ElevacoesPortuariasSAMember to label_ElevacoesPortuariasSAMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LogispotArmazensGeraisSAMember" xlink:label="LogispotArmazensGeraisSAMember" xlink:title="LogispotArmazensGeraisSAMember" />
    <link:label xlink:type="resource" xlink:label="label_LogispotArmazensGeraisSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LogispotArmazensGeraisSAMember" xml:lang="en-US" id="label_LogispotArmazensGeraisSAMember">Logispot Armazens Gerais S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogispotArmazensGeraisSAMember" xlink:to="label_LogispotArmazensGeraisSAMember" xlink:title="Label : LogispotArmazensGeraisSAMember to label_LogispotArmazensGeraisSAMember" />
    <link:label xlink:type="resource" xlink:label="label_LogispotArmazensGeraisSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LogispotArmazensGeraisSAMember_1" xml:lang="en-US" id="label_LogispotArmazensGeraisSAMember_1">Logispot Armazens Gerais S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogispotArmazensGeraisSAMember" xlink:to="label_LogispotArmazensGeraisSAMember_1" xlink:title="Label : LogispotArmazensGeraisSAMember to label_LogispotArmazensGeraisSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LogispotArmazensGeraisSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LogispotArmazensGeraisSAMember_2" xml:lang="en-US" id="label_LogispotArmazensGeraisSAMember_2">Logispot Armazens Gerais S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LogispotArmazensGeraisSAMember" xlink:to="label_LogispotArmazensGeraisSAMember_2" xlink:title="Label : LogispotArmazensGeraisSAMember to label_LogispotArmazensGeraisSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoLuxembourgSarlMember" xlink:label="RumoLuxembourgSarlMember" xlink:title="RumoLuxembourgSarlMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoLuxembourgSarlMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoLuxembourgSarlMember" xml:lang="en-US" id="label_RumoLuxembourgSarlMember">Rumo Luxembourg Sarl [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoLuxembourgSarlMember" xlink:to="label_RumoLuxembourgSarlMember" xlink:title="Label : RumoLuxembourgSarlMember to label_RumoLuxembourgSarlMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoLuxembourgSarlMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoLuxembourgSarlMember_1" xml:lang="en-US" id="label_RumoLuxembourgSarlMember_1">Rumo Luxembourg Sarl [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoLuxembourgSarlMember" xlink:to="label_RumoLuxembourgSarlMember_1" xlink:title="Label : RumoLuxembourgSarlMember to label_RumoLuxembourgSarlMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoLuxembourgSarlMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoLuxembourgSarlMember_2" xml:lang="en-US" id="label_RumoLuxembourgSarlMember_2">Rumo Luxembourg Sarl .</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoLuxembourgSarlMember" xlink:to="label_RumoLuxembourgSarlMember_2" xlink:title="Label : RumoLuxembourgSarlMember to label_RumoLuxembourgSarlMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoIntermodalSAMember" xlink:label="RumoIntermodalSAMember" xlink:title="RumoIntermodalSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoIntermodalSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoIntermodalSAMember" xml:lang="en-US" id="label_RumoIntermodalSAMember">Rumo Intermodal SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoIntermodalSAMember" xlink:to="label_RumoIntermodalSAMember" xlink:title="Label : RumoIntermodalSAMember to label_RumoIntermodalSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoIntermodalSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoIntermodalSAMember_1" xml:lang="en-US" id="label_RumoIntermodalSAMember_1">Rumo Intermodal SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoIntermodalSAMember" xlink:to="label_RumoIntermodalSAMember_1" xlink:title="Label : RumoIntermodalSAMember to label_RumoIntermodalSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoIntermodalSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoIntermodalSAMember_2" xml:lang="en-US" id="label_RumoIntermodalSAMember_2">Rumo Intermodal SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoIntermodalSAMember" xlink:to="label_RumoIntermodalSAMember_2" xlink:title="Label : RumoIntermodalSAMember to label_RumoIntermodalSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BoswellsSAMember" xlink:label="BoswellsSAMember" xlink:title="BoswellsSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BoswellsSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BoswellsSAMember" xml:lang="en-US" id="label_BoswellsSAMember">Boswells S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BoswellsSAMember" xlink:to="label_BoswellsSAMember" xlink:title="Label : BoswellsSAMember to label_BoswellsSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BoswellsSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BoswellsSAMember_1" xml:lang="en-US" id="label_BoswellsSAMember_1">Boswells S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BoswellsSAMember" xlink:to="label_BoswellsSAMember_1" xlink:title="Label : BoswellsSAMember to label_BoswellsSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BoswellsSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BoswellsSAMember_2" xml:lang="en-US" id="label_BoswellsSAMember_2">Boswells S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BoswellsSAMember" xlink:to="label_BoswellsSAMember_2" xlink:title="Label : BoswellsSAMember to label_BoswellsSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ALLArgentinaSAMember" xlink:label="ALLArgentinaSAMember" xlink:title="ALLArgentinaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLArgentinaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ALLArgentinaSAMember" xml:lang="en-US" id="label_ALLArgentinaSAMember">A L L Argentina S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLArgentinaSAMember" xlink:to="label_ALLArgentinaSAMember" xlink:title="Label : ALLArgentinaSAMember to label_ALLArgentinaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLArgentinaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ALLArgentinaSAMember_1" xml:lang="en-US" id="label_ALLArgentinaSAMember_1">A L L Argentina S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLArgentinaSAMember" xlink:to="label_ALLArgentinaSAMember_1" xlink:title="Label : ALLArgentinaSAMember to label_ALLArgentinaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ALLArgentinaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ALLArgentinaSAMember_2" xml:lang="en-US" id="label_ALLArgentinaSAMember_2">A l l argentina s a [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLArgentinaSAMember" xlink:to="label_ALLArgentinaSAMember_2" xlink:title="Label : ALLArgentinaSAMember to label_ALLArgentinaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ParanaguaSAMember" xlink:label="ParanaguaSAMember" xlink:title="ParanaguaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ParanaguaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ParanaguaSAMember" xml:lang="en-US" id="label_ParanaguaSAMember">Paranagua S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParanaguaSAMember" xlink:to="label_ParanaguaSAMember" xlink:title="Label : ParanaguaSAMember to label_ParanaguaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ParanaguaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ParanaguaSAMember_1" xml:lang="en-US" id="label_ParanaguaSAMember_1">Paranagua S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParanaguaSAMember" xlink:to="label_ParanaguaSAMember_1" xlink:title="Label : ParanaguaSAMember to label_ParanaguaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ParanaguaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ParanaguaSAMember_2" xml:lang="en-US" id="label_ParanaguaSAMember_2">Paranagua S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParanaguaSAMember" xlink:to="label_ParanaguaSAMember_2" xlink:title="Label : ParanaguaSAMember to label_ParanaguaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ALLArmazensGeraisLtdaMember" xlink:label="ALLArmazensGeraisLtdaMember" xlink:title="ALLArmazensGeraisLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLArmazensGeraisLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ALLArmazensGeraisLtdaMember" xml:lang="en-US" id="label_ALLArmazensGeraisLtdaMember">A L L Armazens Gerais Ltda [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLArmazensGeraisLtdaMember" xlink:to="label_ALLArmazensGeraisLtdaMember" xlink:title="Label : ALLArmazensGeraisLtdaMember to label_ALLArmazensGeraisLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLArmazensGeraisLtdaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ALLArmazensGeraisLtdaMember_1" xml:lang="en-US" id="label_ALLArmazensGeraisLtdaMember_1">A L L Armazens Gerais Ltda [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLArmazensGeraisLtdaMember" xlink:to="label_ALLArmazensGeraisLtdaMember_1" xlink:title="Label : ALLArmazensGeraisLtdaMember to label_ALLArmazensGeraisLtdaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ALLArmazensGeraisLtdaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ALLArmazensGeraisLtdaMember_2" xml:lang="en-US" id="label_ALLArmazensGeraisLtdaMember_2">ALL Armazens Gerais Ltda.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLArmazensGeraisLtdaMember" xlink:to="label_ALLArmazensGeraisLtdaMember_2" xlink:title="Label : ALLArmazensGeraisLtdaMember to label_ALLArmazensGeraisLtdaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PortoferLtdaMember" xlink:label="PortoferLtdaMember" xlink:title="PortoferLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_PortoferLtdaMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PortoferLtdaMember" xml:lang="en-US" id="label_PortoferLtdaMember">Portofer [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortoferLtdaMember" xlink:to="label_PortoferLtdaMember" xlink:title="Label : PortoferLtdaMember to label_PortoferLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_PortoferLtdaMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PortoferLtdaMember_1" xml:lang="en-US" id="label_PortoferLtdaMember_1">Portofer Ltda [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortoferLtdaMember" xlink:to="label_PortoferLtdaMember_1" xlink:title="Label : PortoferLtdaMember to label_PortoferLtdaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PortoferLtdaMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PortoferLtdaMember_2" xml:lang="en-US" id="label_PortoferLtdaMember_2">Portofer Ltda [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortoferLtdaMember" xlink:to="label_PortoferLtdaMember_2" xlink:title="Label : PortoferLtdaMember to label_PortoferLtdaMember_2" />
    <link:label xlink:type="resource" xlink:label="label_PortoferLtdaMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PortoferLtdaMember_3" xml:lang="en-US" id="label_PortoferLtdaMember_3">Portofer Ltda.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortoferLtdaMember" xlink:to="label_PortoferLtdaMember_3" xlink:title="Label : PortoferLtdaMember to label_PortoferLtdaMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ALLMesopotamicaSAMember" xlink:label="ALLMesopotamicaSAMember" xlink:title="ALLMesopotamicaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLMesopotamicaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ALLMesopotamicaSAMember" xml:lang="en-US" id="label_ALLMesopotamicaSAMember">A L L Mesopotamica S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLMesopotamicaSAMember" xlink:to="label_ALLMesopotamicaSAMember" xlink:title="Label : ALLMesopotamicaSAMember to label_ALLMesopotamicaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLMesopotamicaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ALLMesopotamicaSAMember_1" xml:lang="en-US" id="label_ALLMesopotamicaSAMember_1">A L L Mesopotamica S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLMesopotamicaSAMember" xlink:to="label_ALLMesopotamicaSAMember_1" xlink:title="Label : ALLMesopotamicaSAMember to label_ALLMesopotamicaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ALLMesopotamicaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ALLMesopotamicaSAMember_2" xml:lang="en-US" id="label_ALLMesopotamicaSAMember_2">ALL Mesopotamica S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLMesopotamicaSAMember" xlink:to="label_ALLMesopotamicaSAMember_2" xlink:title="Label : ALLMesopotamicaSAMember to label_ALLMesopotamicaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ALLCentralSAMember" xlink:label="ALLCentralSAMember" xlink:title="ALLCentralSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLCentralSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ALLCentralSAMember" xml:lang="en-US" id="label_ALLCentralSAMember">A L L Central S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLCentralSAMember" xlink:to="label_ALLCentralSAMember" xlink:title="Label : ALLCentralSAMember to label_ALLCentralSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLCentralSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ALLCentralSAMember_1" xml:lang="en-US" id="label_ALLCentralSAMember_1">A L L Central S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLCentralSAMember" xlink:to="label_ALLCentralSAMember_1" xlink:title="Label : ALLCentralSAMember to label_ALLCentralSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ALLCentralSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ALLCentralSAMember_2" xml:lang="en-US" id="label_ALLCentralSAMember_2">ALL Central S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLCentralSAMember" xlink:to="label_ALLCentralSAMember_2" xlink:title="Label : ALLCentralSAMember to label_ALLCentralSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ServiciosDeInversionLogisticaIntegralesSAMember" xlink:label="ServiciosDeInversionLogisticaIntegralesSAMember" xlink:title="ServiciosDeInversionLogisticaIntegralesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ServiciosDeInversionLogisticaIntegralesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServiciosDeInversionLogisticaIntegralesSAMember" xml:lang="en-US" id="label_ServiciosDeInversionLogisticaIntegralesSAMember">Servicios De Inversion Logistica Integrales SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiciosDeInversionLogisticaIntegralesSAMember" xlink:to="label_ServiciosDeInversionLogisticaIntegralesSAMember" xlink:title="Label : ServiciosDeInversionLogisticaIntegralesSAMember to label_ServiciosDeInversionLogisticaIntegralesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ServiciosDeInversionLogisticaIntegralesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ServiciosDeInversionLogisticaIntegralesSAMember_1" xml:lang="en-US" id="label_ServiciosDeInversionLogisticaIntegralesSAMember_1">Servicios De Inversion Logistica Integrales SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiciosDeInversionLogisticaIntegralesSAMember" xlink:to="label_ServiciosDeInversionLogisticaIntegralesSAMember_1" xlink:title="Label : ServiciosDeInversionLogisticaIntegralesSAMember to label_ServiciosDeInversionLogisticaIntegralesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ServiciosDeInversionLogisticaIntegralesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ServiciosDeInversionLogisticaIntegralesSAMember_2" xml:lang="en-US" id="label_ServiciosDeInversionLogisticaIntegralesSAMember_2">Servicios De Inversion Logistica Integrales SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiciosDeInversionLogisticaIntegralesSAMember" xlink:to="label_ServiciosDeInversionLogisticaIntegralesSAMember_2" xlink:title="Label : ServiciosDeInversionLogisticaIntegralesSAMember to label_ServiciosDeInversionLogisticaIntegralesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BradoLogisticaeParticipacoesSAMember" xlink:label="BradoLogisticaeParticipacoesSAMember" xlink:title="BradoLogisticaeParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BradoLogisticaeParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BradoLogisticaeParticipacoesSAMember" xml:lang="en-US" id="label_BradoLogisticaeParticipacoesSAMember">Brado Logisticae Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradoLogisticaeParticipacoesSAMember" xlink:to="label_BradoLogisticaeParticipacoesSAMember" xlink:title="Label : BradoLogisticaeParticipacoesSAMember to label_BradoLogisticaeParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BradoLogisticaeParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BradoLogisticaeParticipacoesSAMember_1" xml:lang="en-US" id="label_BradoLogisticaeParticipacoesSAMember_1">Brado Logisticae Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradoLogisticaeParticipacoesSAMember" xlink:to="label_BradoLogisticaeParticipacoesSAMember_1" xlink:title="Label : BradoLogisticaeParticipacoesSAMember to label_BradoLogisticaeParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BradoLogisticaeParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BradoLogisticaeParticipacoesSAMember_2" xml:lang="en-US" id="label_BradoLogisticaeParticipacoesSAMember_2">Brado Logistica e Participacoes S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradoLogisticaeParticipacoesSAMember" xlink:to="label_BradoLogisticaeParticipacoesSAMember_2" xlink:title="Label : BradoLogisticaeParticipacoesSAMember to label_BradoLogisticaeParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BradoLogisticaSAMember" xlink:label="BradoLogisticaSAMember" xlink:title="BradoLogisticaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BradoLogisticaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BradoLogisticaSAMember" xml:lang="en-US" id="label_BradoLogisticaSAMember">Brado Logistica S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradoLogisticaSAMember" xlink:to="label_BradoLogisticaSAMember" xlink:title="Label : BradoLogisticaSAMember to label_BradoLogisticaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BradoLogisticaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BradoLogisticaSAMember_1" xml:lang="en-US" id="label_BradoLogisticaSAMember_1">Brado Logistica S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradoLogisticaSAMember" xlink:to="label_BradoLogisticaSAMember_1" xlink:title="Label : BradoLogisticaSAMember to label_BradoLogisticaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BradoLogisticaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BradoLogisticaSAMember_2" xml:lang="en-US" id="label_BradoLogisticaSAMember_2">Brado Logistica S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradoLogisticaSAMember" xlink:to="label_BradoLogisticaSAMember_2" xlink:title="Label : BradoLogisticaSAMember to label_BradoLogisticaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DistribuidoraDeGasParticipacoesSAMember" xlink:label="DistribuidoraDeGasParticipacoesSAMember" xlink:title="DistribuidoraDeGasParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_DistribuidoraDeGasParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DistribuidoraDeGasParticipacoesSAMember" xml:lang="en-US" id="label_DistribuidoraDeGasParticipacoesSAMember">Distribuidora de Gas Participacoes S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistribuidoraDeGasParticipacoesSAMember" xlink:to="label_DistribuidoraDeGasParticipacoesSAMember" xlink:title="Label : DistribuidoraDeGasParticipacoesSAMember to label_DistribuidoraDeGasParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_DistribuidoraDeGasParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DistribuidoraDeGasParticipacoesSAMember_1" xml:lang="en-US" id="label_DistribuidoraDeGasParticipacoesSAMember_1">Distribuidora de Gas Participacoes S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistribuidoraDeGasParticipacoesSAMember" xlink:to="label_DistribuidoraDeGasParticipacoesSAMember_1" xlink:title="Label : DistribuidoraDeGasParticipacoesSAMember to label_DistribuidoraDeGasParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DistribuidoraDeGasParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DistribuidoraDeGasParticipacoesSAMember_2" xml:lang="en-US" id="label_DistribuidoraDeGasParticipacoesSAMember_2">Distribuidora de Gas Participacoes S.A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistribuidoraDeGasParticipacoesSAMember" xlink:to="label_DistribuidoraDeGasParticipacoesSAMember_2" xlink:title="Label : DistribuidoraDeGasParticipacoesSAMember to label_DistribuidoraDeGasParticipacoesSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DistribuidoraDeGasParticipacoesSAMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DistribuidoraDeGasParticipacoesSAMember_3" xml:lang="en-US" id="label_DistribuidoraDeGasParticipacoesSAMember_3">Distribuidora de G&#xE1;s Participa&#xE7;&#xF5;es S.A [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistribuidoraDeGasParticipacoesSAMember" xlink:to="label_DistribuidoraDeGasParticipacoesSAMember_3" xlink:title="Label : DistribuidoraDeGasParticipacoesSAMember to label_DistribuidoraDeGasParticipacoesSAMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLimitedPartnersBrasilConsultoriaLtdaMember" xlink:label="CosanLimitedPartnersBrasilConsultoriaLtdaMember" xlink:title="CosanLimitedPartnersBrasilConsultoriaLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLimitedPartnersBrasilConsultoriaLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLimitedPartnersBrasilConsultoriaLtdaMember" xml:lang="en-US" id="label_CosanLimitedPartnersBrasilConsultoriaLtdaMember">Cosan Limited Partners Brasil Consultoria Ltda [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLimitedPartnersBrasilConsultoriaLtdaMember" xlink:to="label_CosanLimitedPartnersBrasilConsultoriaLtdaMember" xlink:title="Label : CosanLimitedPartnersBrasilConsultoriaLtdaMember to label_CosanLimitedPartnersBrasilConsultoriaLtdaMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SinlogTecnologiaEmLogsticaSaMember" xlink:label="SinlogTecnologiaEmLogsticaSaMember" xlink:title="SinlogTecnologiaEmLogsticaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_SinlogTecnologiaEmLogsticaSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SinlogTecnologiaEmLogsticaSaMember" xml:lang="en-US" id="label_SinlogTecnologiaEmLogsticaSaMember">Sinlog Tecnologia em Logstica SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SinlogTecnologiaEmLogsticaSaMember" xlink:to="label_SinlogTecnologiaEmLogsticaSaMember" xlink:title="Label : SinlogTecnologiaEmLogsticaSaMember to label_SinlogTecnologiaEmLogsticaSaMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfAssociatesAndJointVenturesLineItems" xlink:label="DisclosureOfAssociatesAndJointVenturesLineItems" xlink:title="DisclosureOfAssociatesAndJointVenturesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfAssociatesAndJointVenturesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfAssociatesAndJointVenturesLineItems" xml:lang="en-US" id="label_DisclosureOfAssociatesAndJointVenturesLineItems">Disclosure of associates and joint ventures [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAssociatesAndJointVenturesLineItems" xlink:to="label_DisclosureOfAssociatesAndJointVenturesLineItems" xlink:title="Label : DisclosureOfAssociatesAndJointVenturesLineItems to label_DisclosureOfAssociatesAndJointVenturesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfAssociatesAndJointVenturesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfAssociatesAndJointVenturesLineItems_1" xml:lang="en-US" id="label_DisclosureOfAssociatesAndJointVenturesLineItems_1">Disclosure of associates and joint ventures [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAssociatesAndJointVenturesLineItems" xlink:to="label_DisclosureOfAssociatesAndJointVenturesLineItems_1" xlink:title="Label : DisclosureOfAssociatesAndJointVenturesLineItems to label_DisclosureOfAssociatesAndJointVenturesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfAssociatesAndJointVenturesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfAssociatesAndJointVenturesLineItems_2" xml:lang="en-US" id="label_DisclosureOfAssociatesAndJointVenturesLineItems_2">Line items represent concepts included in a table. These concepts are used to disclose reportable information about associate and joint ventures associated with domain members defined in one or many axes of the table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAssociatesAndJointVenturesLineItems" xlink:to="label_DisclosureOfAssociatesAndJointVenturesLineItems_2" xlink:title="Label : DisclosureOfAssociatesAndJointVenturesLineItems to label_DisclosureOfAssociatesAndJointVenturesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesHeldByParent" xlink:label="NumberOfSharesHeldByParent" xlink:title="NumberOfSharesHeldByParent" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesHeldByParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesHeldByParent" xml:lang="en-US" id="label_NumberOfSharesHeldByParent">Number of shares held by parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesHeldByParent" xlink:to="label_NumberOfSharesHeldByParent" xlink:title="Label : NumberOfSharesHeldByParent to label_NumberOfSharesHeldByParent" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesHeldByParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesHeldByParent_1" xml:lang="en-US" id="label_NumberOfSharesHeldByParent_1">Shares held by Cosan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesHeldByParent" xlink:to="label_NumberOfSharesHeldByParent_1" xlink:title="Label : NumberOfSharesHeldByParent to label_NumberOfSharesHeldByParent_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesHeldByParent_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesHeldByParent_2" xml:lang="en-US" id="label_NumberOfSharesHeldByParent_2">Number of shares held by parent.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesHeldByParent" xlink:to="label_NumberOfSharesHeldByParent_2" xlink:title="Label : NumberOfSharesHeldByParent to label_NumberOfSharesHeldByParent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ProportionOfOwnershipInterestInAssociate" xlink:title="ProportionOfOwnershipInterestInAssociate" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInAssociate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfOwnershipInterestInAssociate" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInAssociate">Proportion of ownership interest in associate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInAssociate" xlink:to="label_ProportionOfOwnershipInterestInAssociate" xlink:title="Label : ProportionOfOwnershipInterestInAssociate to label_ProportionOfOwnershipInterestInAssociate" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestInAssociate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProportionOfOwnershipInterestInAssociate_1" xml:lang="en-US" id="label_ProportionOfOwnershipInterestInAssociate_1">Cosan ownership interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestInAssociate" xlink:to="label_ProportionOfOwnershipInterestInAssociate_1" xlink:title="Label : ProportionOfOwnershipInterestInAssociate to label_ProportionOfOwnershipInterestInAssociate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProportionOfEconomicBenefits" xlink:label="ProportionOfEconomicBenefits" xlink:title="ProportionOfEconomicBenefits" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfEconomicBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfEconomicBenefits" xml:lang="en-US" id="label_ProportionOfEconomicBenefits">Proportion of economic benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfEconomicBenefits" xlink:to="label_ProportionOfEconomicBenefits" xlink:title="Label : ProportionOfEconomicBenefits to label_ProportionOfEconomicBenefits" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfEconomicBenefits_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProportionOfEconomicBenefits_1" xml:lang="en-US" id="label_ProportionOfEconomicBenefits_1">Economic benefits %</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfEconomicBenefits" xlink:to="label_ProportionOfEconomicBenefits_1" xlink:title="Label : ProportionOfEconomicBenefits to label_ProportionOfEconomicBenefits_1" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfEconomicBenefits_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProportionOfEconomicBenefits_2" xml:lang="en-US" id="label_ProportionOfEconomicBenefits_2">Proportion of economic benefits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfEconomicBenefits" xlink:to="label_ProportionOfEconomicBenefits_2" xlink:title="Label : ProportionOfEconomicBenefits to label_ProportionOfEconomicBenefits_2" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_1" xml:lang="en-US" id="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_1">Share Of Comprehensive Income Of Associates Accounted For Using Equity Method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" xlink:to="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_1" xlink:title="Label : ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod to label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_1" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_2" xml:lang="en-US" id="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_2">Share of comprehensive income of associates accounted for using equity method.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" xlink:to="label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_2" xlink:title="Label : ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod to label_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:label="DividendsPaidToNoncontrollingInterests" xlink:title="DividendsPaidToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPaidToNoncontrollingInterests" xml:lang="en-US" id="label_DividendsPaidToNoncontrollingInterests">Dividends paid to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidToNoncontrollingInterests" xlink:to="label_DividendsPaidToNoncontrollingInterests" xlink:title="Label : DividendsPaidToNoncontrollingInterests to label_DividendsPaidToNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPaidToNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPaidToNoncontrollingInterests_1" xml:lang="en-US" id="label_DividendsPaidToNoncontrollingInterests_1">Dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPaidToNoncontrollingInterests" xlink:to="label_DividendsPaidToNoncontrollingInterests_1" xlink:title="Label : DividendsPaidToNoncontrollingInterests to label_DividendsPaidToNoncontrollingInterests_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:label="IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:title="IncreaseDecreaseThroughAppropriationOfRetainedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xml:lang="en-US" id="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings">Retained earnings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:to="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:title="Label : IncreaseDecreaseThroughAppropriationOfRetainedEarnings to label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_1">Capital increase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:to="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_1" xlink:title="Label : IncreaseDecreaseThroughAppropriationOfRetainedEarnings to label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_2">Capital increase (decrease)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:to="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_2" xlink:title="Label : IncreaseDecreaseThroughAppropriationOfRetainedEarnings to label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_2" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_3" xml:lang="en-US" id="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_3">Increase (decrease) through appropriation of retained earnings, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughAppropriationOfRetainedEarnings" xlink:to="label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_3" xlink:title="Label : IncreaseDecreaseThroughAppropriationOfRetainedEarnings to label_IncreaseDecreaseThroughAppropriationOfRetainedEarnings_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTransactionsInAssociates" xlink:label="OtherTransactionsInAssociates" xlink:title="OtherTransactionsInAssociates" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransactionsInAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTransactionsInAssociates" xml:lang="en-US" id="label_OtherTransactionsInAssociates">Other Transactions In Associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransactionsInAssociates" xlink:to="label_OtherTransactionsInAssociates" xlink:title="Label : OtherTransactionsInAssociates to label_OtherTransactionsInAssociates" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransactionsInAssociates_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherTransactionsInAssociates_1" xml:lang="en-US" id="label_OtherTransactionsInAssociates_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransactionsInAssociates" xlink:to="label_OtherTransactionsInAssociates_1" xlink:title="Label : OtherTransactionsInAssociates to label_OtherTransactionsInAssociates_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransactionsInAssociates_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTransactionsInAssociates_2" xml:lang="en-US" id="label_OtherTransactionsInAssociates_2">Other Transactions In Associates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransactionsInAssociates" xlink:to="label_OtherTransactionsInAssociates_2" xlink:title="Label : OtherTransactionsInAssociates to label_OtherTransactionsInAssociates_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInAssociatesAbstract" xlink:label="DisclosureOfSignificantInvestmentsInAssociatesAbstract" xlink:title="DisclosureOfSignificantInvestmentsInAssociatesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInAssociatesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInAssociatesAbstract" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInAssociatesAbstract">Disclosure of associates [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInAssociatesAbstract" xlink:to="label_DisclosureOfSignificantInvestmentsInAssociatesAbstract" xlink:title="Label : DisclosureOfSignificantInvestmentsInAssociatesAbstract to label_DisclosureOfSignificantInvestmentsInAssociatesAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SinlogTecnologiaEmLogsticaMember" xlink:label="SinlogTecnologiaEmLogsticaMember" xlink:title="SinlogTecnologiaEmLogsticaMember" />
    <link:label xlink:type="resource" xlink:label="label_SinlogTecnologiaEmLogsticaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SinlogTecnologiaEmLogsticaMember" xml:lang="en-US" id="label_SinlogTecnologiaEmLogsticaMember">Sinlog Tecnologia em Logstica [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SinlogTecnologiaEmLogsticaMember" xlink:to="label_SinlogTecnologiaEmLogsticaMember" xlink:title="Label : SinlogTecnologiaEmLogsticaMember to label_SinlogTecnologiaEmLogsticaMember" />
    <link:label xlink:type="resource" xlink:label="label_SinlogTecnologiaEmLogsticaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SinlogTecnologiaEmLogsticaMember_1" xml:lang="en-US" id="label_SinlogTecnologiaEmLogsticaMember_1">Sinlog Tecnologia em Logstica [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SinlogTecnologiaEmLogsticaMember" xlink:to="label_SinlogTecnologiaEmLogsticaMember_1" xlink:title="Label : SinlogTecnologiaEmLogsticaMember to label_SinlogTecnologiaEmLogsticaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SinlogTecnologiaEmLogsticaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SinlogTecnologiaEmLogsticaMember_2" xml:lang="en-US" id="label_SinlogTecnologiaEmLogsticaMember_2">Sinlog Tecnologia em Logstica&#xA0;[member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SinlogTecnologiaEmLogsticaMember" xlink:to="label_SinlogTecnologiaEmLogsticaMember_2" xlink:title="Label : SinlogTecnologiaEmLogsticaMember to label_SinlogTecnologiaEmLogsticaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMember" xlink:label="RumoMember" xlink:title="RumoMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMember" xml:lang="en-US" id="label_RumoMember">Rumo [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMember" xlink:to="label_RumoMember" xlink:title="Label : RumoMember to label_RumoMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMember_1" xml:lang="en-US" id="label_RumoMember_1">Rumo [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMember" xlink:to="label_RumoMember_1" xlink:title="Label : RumoMember to label_RumoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoMember_2" xml:lang="en-US" id="label_RumoMember_2">Rumo.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMember" xlink:to="label_RumoMember_2" xlink:title="Label : RumoMember to label_RumoMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:label="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xml:lang="en-US" id="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">Disclosure of subsidiaries [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:title="Label : DisclosureOfSignificantInvestmentsInSubsidiariesLineItems to label_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EquityPercentSold" xlink:label="EquityPercentSold" xlink:title="EquityPercentSold" />
    <link:label xlink:type="resource" xlink:label="label_EquityPercentSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityPercentSold" xml:lang="en-US" id="label_EquityPercentSold">Equity Percent Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityPercentSold" xlink:to="label_EquityPercentSold" xlink:title="Label : EquityPercentSold to label_EquityPercentSold" />
    <link:label xlink:type="resource" xlink:label="label_EquityPercentSold_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EquityPercentSold_1" xml:lang="en-US" id="label_EquityPercentSold_1">Equity percent sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityPercentSold" xlink:to="label_EquityPercentSold_1" xlink:title="Label : EquityPercentSold to label_EquityPercentSold_1" />
    <link:label xlink:type="resource" xlink:label="label_EquityPercentSold_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EquityPercentSold_2" xml:lang="en-US" id="label_EquityPercentSold_2">Equity percent sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityPercentSold" xlink:to="label_EquityPercentSold_2" xlink:title="Label : EquityPercentSold to label_EquityPercentSold_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xlink:label="ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xlink:title="ProceedsFromChangesInOwnershipInterestsInSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xml:lang="en-US" id="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries">Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xlink:to="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xlink:title="Label : ProceedsFromChangesInOwnershipInterestsInSubsidiaries to label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries_1" xml:lang="en-US" id="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries_1">Proceeds from changes in ownership interests in subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromChangesInOwnershipInterestsInSubsidiaries" xlink:to="label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries_1" xlink:title="Label : ProceedsFromChangesInOwnershipInterestsInSubsidiaries to label_ProceedsFromChangesInOwnershipInterestsInSubsidiaries_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashTransferred" xlink:label="CashTransferred" xlink:title="CashTransferred" />
    <link:label xlink:type="resource" xlink:label="label_CashTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashTransferred" xml:lang="en-US" id="label_CashTransferred">Cash transferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashTransferred" xlink:to="label_CashTransferred" xlink:title="Label : CashTransferred to label_CashTransferred" />
    <link:label xlink:type="resource" xlink:label="label_CashTransferred_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashTransferred_1" xml:lang="en-US" id="label_CashTransferred_1">Cash transferred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashTransferred" xlink:to="label_CashTransferred_1" xlink:title="Label : CashTransferred to label_CashTransferred_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DividendPayables" xlink:label="DividendPayables" xlink:title="DividendPayables" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendPayables" xml:lang="en-US" id="label_DividendPayables">Dividend payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayables" xlink:to="label_DividendPayables" xlink:title="Label : DividendPayables to label_DividendPayables" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayables_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendPayables_1" xml:lang="en-US" id="label_DividendPayables_1">Dividend payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayables" xlink:to="label_DividendPayables_1" xlink:title="Label : DividendPayables to label_DividendPayables_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayables_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DividendPayables_2" xml:lang="en-US" id="label_DividendPayables_2">Dividends declared to shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayables" xlink:to="label_DividendPayables_2" xlink:title="Label : DividendPayables to label_DividendPayables_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StatementOfFinancialStatementsAbstract" xlink:label="StatementOfFinancialStatementsAbstract" xlink:title="StatementOfFinancialStatementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialStatementsAbstract" xml:lang="en-US" id="label_StatementOfFinancialStatementsAbstract">Statement of financial statements [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialStatementsAbstract" xlink:to="label_StatementOfFinancialStatementsAbstract" xlink:title="Label : StatementOfFinancialStatementsAbstract to label_StatementOfFinancialStatementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialStatementsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StatementOfFinancialStatementsAbstract_1" xml:lang="en-US" id="label_StatementOfFinancialStatementsAbstract_1">Statement of financial statements [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialStatementsAbstract" xlink:to="label_StatementOfFinancialStatementsAbstract_1" xlink:title="Label : StatementOfFinancialStatementsAbstract to label_StatementOfFinancialStatementsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StatementOfFinancialStatementsTable" xlink:label="StatementOfFinancialStatementsTable" xlink:title="StatementOfFinancialStatementsTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialStatementsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialStatementsTable" xml:lang="en-US" id="label_StatementOfFinancialStatementsTable">Statement of financial statements [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialStatementsTable" xlink:to="label_StatementOfFinancialStatementsTable" xlink:title="Label : StatementOfFinancialStatementsTable to label_StatementOfFinancialStatementsTable" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialStatementsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementOfFinancialStatementsTable_1" xml:lang="en-US" id="label_StatementOfFinancialStatementsTable_1">Statement of financial statements [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialStatementsTable" xlink:to="label_StatementOfFinancialStatementsTable_1" xlink:title="Label : StatementOfFinancialStatementsTable to label_StatementOfFinancialStatementsTable_1" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialStatementsTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StatementOfFinancialStatementsTable_2" xml:lang="en-US" id="label_StatementOfFinancialStatementsTable_2">Statement of financial statements [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialStatementsTable" xlink:to="label_StatementOfFinancialStatementsTable_2" xlink:title="Label : StatementOfFinancialStatementsTable to label_StatementOfFinancialStatementsTable_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_CondensedFinancialStatementsCaptionsLineItems" xlink:label="CondensedFinancialStatementsCaptionsLineItems" xlink:title="CondensedFinancialStatementsCaptionsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_CondensedFinancialStatementsCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CondensedFinancialStatementsCaptionsLineItems" xml:lang="en-US" id="label_CondensedFinancialStatementsCaptionsLineItems">Condensed Financial Statements, Captions [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CondensedFinancialStatementsCaptionsLineItems" xlink:to="label_CondensedFinancialStatementsCaptionsLineItems" xlink:title="Label : CondensedFinancialStatementsCaptionsLineItems to label_CondensedFinancialStatementsCaptionsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_CondensedFinancialStatementsCaptionsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CondensedFinancialStatementsCaptionsLineItems_1" xml:lang="en-US" id="label_CondensedFinancialStatementsCaptionsLineItems_1">Statement of financial statements [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CondensedFinancialStatementsCaptionsLineItems" xlink:to="label_CondensedFinancialStatementsCaptionsLineItems_1" xlink:title="Label : CondensedFinancialStatementsCaptionsLineItems to label_CondensedFinancialStatementsCaptionsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CliMember" xlink:label="CliMember" xlink:title="CliMember" />
    <link:label xlink:type="resource" xlink:label="label_CliMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CliMember" xml:lang="en-US" id="label_CliMember">CLI [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CliMember" xlink:to="label_CliMember" xlink:title="Label : CliMember to label_CliMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PaylyMember" xlink:label="PaylyMember" xlink:title="PaylyMember" />
    <link:label xlink:type="resource" xlink:label="label_PaylyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PaylyMember" xml:lang="en-US" id="label_PaylyMember">Payly [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaylyMember" xlink:to="label_PaylyMember" xlink:title="Label : PaylyMember to label_PaylyMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SinlogTecnologiaEmLogisticaSaMember" xlink:label="SinlogTecnologiaEmLogisticaSaMember" xlink:title="SinlogTecnologiaEmLogisticaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_SinlogTecnologiaEmLogisticaSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SinlogTecnologiaEmLogisticaSaMember" xml:lang="en-US" id="label_SinlogTecnologiaEmLogisticaSaMember">Sinlog Tecnologia em Logistica SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SinlogTecnologiaEmLogisticaSaMember" xlink:to="label_SinlogTecnologiaEmLogisticaSaMember" xlink:title="Label : SinlogTecnologiaEmLogisticaSaMember to label_SinlogTecnologiaEmLogisticaSaMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TtaMember" xlink:label="TtaMember" xlink:title="TtaMember" />
    <link:label xlink:type="resource" xlink:label="label_TtaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TtaMember" xml:lang="en-US" id="label_TtaMember">TTA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TtaMember" xlink:to="label_TtaMember" xlink:title="Label : TtaMember to label_TtaMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLogisticaMember" xlink:label="CosanLogisticaMember" xlink:title="CosanLogisticaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogisticaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLogisticaMember" xml:lang="en-US" id="label_CosanLogisticaMember">Cosan Logistica [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogisticaMember" xlink:to="label_CosanLogisticaMember" xlink:title="Label : CosanLogisticaMember to label_CosanLogisticaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogisticaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLogisticaMember_1" xml:lang="en-US" id="label_CosanLogisticaMember_1">Cosan Logistica [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogisticaMember" xlink:to="label_CosanLogisticaMember_1" xlink:title="Label : CosanLogisticaMember to label_CosanLogisticaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogisticaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLogisticaMember_2" xml:lang="en-US" id="label_CosanLogisticaMember_2">Cosan Logistica.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogisticaMember" xlink:to="label_CosanLogisticaMember_2" xlink:title="Label : CosanLogisticaMember to label_CosanLogisticaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SharesHeldByNoncontrollingShareholders" xlink:label="SharesHeldByNoncontrollingShareholders" xlink:title="SharesHeldByNoncontrollingShareholders" />
    <link:label xlink:type="resource" xlink:label="label_SharesHeldByNoncontrollingShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharesHeldByNoncontrollingShareholders" xml:lang="en-US" id="label_SharesHeldByNoncontrollingShareholders">Shares held by noncontrolling shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesHeldByNoncontrollingShareholders" xlink:to="label_SharesHeldByNoncontrollingShareholders" xlink:title="Label : SharesHeldByNoncontrollingShareholders to label_SharesHeldByNoncontrollingShareholders" />
    <link:label xlink:type="resource" xlink:label="label_SharesHeldByNoncontrollingShareholders_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharesHeldByNoncontrollingShareholders_1" xml:lang="en-US" id="label_SharesHeldByNoncontrollingShareholders_1">Shares held by non-controlling shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesHeldByNoncontrollingShareholders" xlink:to="label_SharesHeldByNoncontrollingShareholders_1" xlink:title="Label : SharesHeldByNoncontrollingShareholders to label_SharesHeldByNoncontrollingShareholders_1" />
    <link:label xlink:type="resource" xlink:label="label_SharesHeldByNoncontrollingShareholders_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SharesHeldByNoncontrollingShareholders_2" xml:lang="en-US" id="label_SharesHeldByNoncontrollingShareholders_2">Shares held by noncontrolling shareholders.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesHeldByNoncontrollingShareholders" xlink:to="label_SharesHeldByNoncontrollingShareholders_2" xlink:title="Label : SharesHeldByNoncontrollingShareholders to label_SharesHeldByNoncontrollingShareholders_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:label="ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:title="ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests">Proportion of ownership interests held by non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:to="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:title="Label : ProportionOfOwnershipInterestsHeldByNoncontrollingInterests to label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_1" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_1">Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:to="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_1" xlink:title="Label : ProportionOfOwnershipInterestsHeldByNoncontrollingInterests to label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_1" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_2" xml:lang="en-US" id="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_2">Non-controlling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:to="label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_2" xlink:title="Label : ProportionOfOwnershipInterestsHeldByNoncontrollingInterests to label_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:label="SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:title="SalesOrPurchaseOfInterestsInNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests" xml:lang="en-US" id="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests">Sales or purchase of interests in noncontrolling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:to="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:title="Label : SalesOrPurchaseOfInterestsInNoncontrollingInterests to label_SalesOrPurchaseOfInterestsInNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_1" xml:lang="en-US" id="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_1">Sales or purchase of interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:to="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_1" xlink:title="Label : SalesOrPurchaseOfInterestsInNoncontrollingInterests to label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_1" />
    <link:label xlink:type="resource" xlink:label="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_2" xml:lang="en-US" id="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_2">Sales or purchase of interests in noncontrolling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesOrPurchaseOfInterestsInNoncontrollingInterests" xlink:to="label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_2" xlink:title="Label : SalesOrPurchaseOfInterestsInNoncontrollingInterests to label_SalesOrPurchaseOfInterestsInNoncontrollingInterests_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherComprehensiveIncomeLoss" xlink:label="OtherComprehensiveIncomeLoss" xlink:title="OtherComprehensiveIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherComprehensiveIncomeLoss" xml:lang="en-US" id="label_OtherComprehensiveIncomeLoss">Other comprehensive income (loss).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeLoss" xlink:to="label_OtherComprehensiveIncomeLoss" xlink:title="Label : OtherComprehensiveIncomeLoss to label_OtherComprehensiveIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherComprehensiveIncomeLoss_1" xml:lang="en-US" id="label_OtherComprehensiveIncomeLoss_1">Other comprehensive income (losses)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeLoss" xlink:to="label_OtherComprehensiveIncomeLoss_1" xlink:title="Label : OtherComprehensiveIncomeLoss to label_OtherComprehensiveIncomeLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeLoss_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeLoss_2" xml:lang="en-US" id="label_OtherComprehensiveIncomeLoss_2">Other Comprehensive Income (Loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeLoss" xlink:to="label_OtherComprehensiveIncomeLoss_2" xlink:title="Label : OtherComprehensiveIncomeLoss to label_OtherComprehensiveIncomeLoss_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:label="NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:title="NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xml:lang="en-US" id="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate">Non-controlling interest in acquiree recognised at acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:title="Label : NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate to label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_1" xml:lang="en-US" id="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_1">Shareholders' equity attributable to non-controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_1" xlink:title="Label : NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate to label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2" xml:lang="en-US" id="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2">Business combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2" xlink:title="Label : NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate to label_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTransactions" xlink:label="OtherTransactions" xlink:title="OtherTransactions" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTransactions" xml:lang="en-US" id="label_OtherTransactions">Other Transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransactions" xlink:to="label_OtherTransactions" xlink:title="Label : OtherTransactions to label_OtherTransactions" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransactions_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherTransactions_1" xml:lang="en-US" id="label_OtherTransactions_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransactions" xlink:to="label_OtherTransactions_1" xlink:title="Label : OtherTransactions to label_OtherTransactions_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransactions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTransactions_2" xml:lang="en-US" id="label_OtherTransactions_2">Other transactions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransactions" xlink:to="label_OtherTransactions_2" xlink:title="Label : OtherTransactions to label_OtherTransactions_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NetCurrentAssetsLiabilitiesAbstract" xlink:label="NetCurrentAssetsLiabilitiesAbstract" xlink:title="NetCurrentAssetsLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NetCurrentAssetsLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetCurrentAssetsLiabilitiesAbstract" xml:lang="en-US" id="label_NetCurrentAssetsLiabilitiesAbstract">Net current assets (liabilities) [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCurrentAssetsLiabilitiesAbstract" xlink:to="label_NetCurrentAssetsLiabilitiesAbstract" xlink:title="Label : NetCurrentAssetsLiabilitiesAbstract to label_NetCurrentAssetsLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NetCurrentAssetsLiabilitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetCurrentAssetsLiabilitiesAbstract_1" xml:lang="en-US" id="label_NetCurrentAssetsLiabilitiesAbstract_1">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCurrentAssetsLiabilitiesAbstract" xlink:to="label_NetCurrentAssetsLiabilitiesAbstract_1" xlink:title="Label : NetCurrentAssetsLiabilitiesAbstract to label_NetCurrentAssetsLiabilitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NetNonCurrentAssetsLiabilitiesAbstract" xlink:label="NetNonCurrentAssetsLiabilitiesAbstract" xlink:title="NetNonCurrentAssetsLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NetNonCurrentAssetsLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetNonCurrentAssetsLiabilitiesAbstract" xml:lang="en-US" id="label_NetNonCurrentAssetsLiabilitiesAbstract">Net Non Current Assets Liabilities [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetNonCurrentAssetsLiabilitiesAbstract" xlink:to="label_NetNonCurrentAssetsLiabilitiesAbstract" xlink:title="Label : NetNonCurrentAssetsLiabilitiesAbstract to label_NetNonCurrentAssetsLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NetNonCurrentAssetsLiabilitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetNonCurrentAssetsLiabilitiesAbstract_1" xml:lang="en-US" id="label_NetNonCurrentAssetsLiabilitiesAbstract_1">Non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetNonCurrentAssetsLiabilitiesAbstract" xlink:to="label_NetNonCurrentAssetsLiabilitiesAbstract_1" xlink:title="Label : NetNonCurrentAssetsLiabilitiesAbstract to label_NetNonCurrentAssetsLiabilitiesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_NetNonCurrentAssetsLiabilitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetNonCurrentAssetsLiabilitiesAbstract_2" xml:lang="en-US" id="label_NetNonCurrentAssetsLiabilitiesAbstract_2">Net non current assets liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetNonCurrentAssetsLiabilitiesAbstract" xlink:to="label_NetNonCurrentAssetsLiabilitiesAbstract_2" xlink:title="Label : NetNonCurrentAssetsLiabilitiesAbstract to label_NetNonCurrentAssetsLiabilitiesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NoncurrentAssetsLiabilities" xlink:label="NoncurrentAssetsLiabilities" xlink:title="NoncurrentAssetsLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentAssetsLiabilities" xml:lang="en-US" id="label_NoncurrentAssetsLiabilities">Non-current Assets Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsLiabilities" xlink:to="label_NoncurrentAssetsLiabilities" xlink:title="Label : NoncurrentAssetsLiabilities to label_NoncurrentAssetsLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsLiabilities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NoncurrentAssetsLiabilities_1" xml:lang="en-US" id="label_NoncurrentAssetsLiabilities_1">Net non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsLiabilities" xlink:to="label_NoncurrentAssetsLiabilities_1" xlink:title="Label : NoncurrentAssetsLiabilities to label_NoncurrentAssetsLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentAssetsLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NoncurrentAssetsLiabilities_2" xml:lang="en-US" id="label_NoncurrentAssetsLiabilities_2">Non-current assets liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentAssetsLiabilities" xlink:to="label_NoncurrentAssetsLiabilities_2" xlink:title="Label : NoncurrentAssetsLiabilities to label_NoncurrentAssetsLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="CashFlowsFromUsedInOperatingActivities" xlink:title="CashFlowsFromUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromUsedInOperatingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInOperatingActivities">Net cash (used in) from operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_CashFlowsFromUsedInOperatingActivities" xlink:title="Label : CashFlowsFromUsedInOperatingActivities to label_CashFlowsFromUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInOperatingActivities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInOperatingActivities_1" xml:lang="en-US" id="label_CashFlowsFromUsedInOperatingActivities_1">Cash flows from (used in) operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInOperatingActivities" xlink:to="label_CashFlowsFromUsedInOperatingActivities_1" xlink:title="Label : CashFlowsFromUsedInOperatingActivities to label_CashFlowsFromUsedInOperatingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="CashFlowsFromUsedInInvestingActivities" xlink:title="CashFlowsFromUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashFlowsFromUsedInInvestingActivities" xml:lang="en-US" id="label_CashFlowsFromUsedInInvestingActivities">Net cash from (used in) investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_CashFlowsFromUsedInInvestingActivities" xlink:title="Label : CashFlowsFromUsedInInvestingActivities to label_CashFlowsFromUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_CashFlowsFromUsedInInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashFlowsFromUsedInInvestingActivities_1" xml:lang="en-US" id="label_CashFlowsFromUsedInInvestingActivities_1">Cash flows from (used in) investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashFlowsFromUsedInInvestingActivities" xlink:to="label_CashFlowsFromUsedInInvestingActivities_1" xlink:title="Label : CashFlowsFromUsedInInvestingActivities to label_CashFlowsFromUsedInInvestingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="CashFlowsFromUsedInFinancingActivities" xlink:title="CashFlowsFromUsedInFinancingActivities" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:label="GoodwillRecognisedAsOfAcquisitionDate" xlink:title="GoodwillRecognisedAsOfAcquisitionDate" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination" xlink:label="GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination" xlink:title="GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination" xlink:to="label_GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination_1" xlink:title="Label : GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination to label_GainLossThatRelatesToIdentifiableAssetsAcquiredOrLiabilitiesAssumedInBusinessCombination_1" />
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    <link:label xlink:type="resource" xlink:label="label_ParValuePerShare_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ParValuePerShare_1" xml:lang="en-US" id="label_ParValuePerShare_1">Value per share</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ParValuePerShare" xlink:to="label_ParValuePerShare_2" xlink:title="Label : ParValuePerShare to label_ParValuePerShare_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="PercentageOfVotingEquityInterestsAcquired" xlink:title="PercentageOfVotingEquityInterestsAcquired" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfInstrumentOrInterestIssuedOrIssuable" xlink:label="NumberOfInstrumentOrInterestIssuedOrIssuable" xlink:title="NumberOfInstrumentOrInterestIssuedOrIssuable" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstrumentOrInterestIssuedOrIssuable" xlink:to="label_NumberOfInstrumentOrInterestIssuedOrIssuable_2" xlink:title="Label : NumberOfInstrumentOrInterestIssuedOrIssuable to label_NumberOfInstrumentOrInterestIssuedOrIssuable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompassComercializadoraDeEnergiaLtdaMember" xlink:label="CompassComercializadoraDeEnergiaLtdaMember" xlink:title="CompassComercializadoraDeEnergiaLtdaMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassComercializadoraDeEnergiaLtdaMember" xlink:to="label_CompassComercializadoraDeEnergiaLtdaMember_1" xlink:title="Label : CompassComercializadoraDeEnergiaLtdaMember to label_CompassComercializadoraDeEnergiaLtdaMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGeracaoLtdaMember" xlink:to="label_CompassGeracaoLtdaMember" xlink:title="Label : CompassGeracaoLtdaMember to label_CompassGeracaoLtdaMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGeracaoLtdaMember" xlink:to="label_CompassGeracaoLtdaMember_2" xlink:title="Label : CompassGeracaoLtdaMember to label_CompassGeracaoLtdaMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassEnergiaLtdaMember" xlink:to="label_CompassEnergiaLtdaMember_1" xlink:title="Label : CompassEnergiaLtdaMember to label_CompassEnergiaLtdaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompassEnergiaLtdaMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompassEnergiaLtdaMember_2" xml:lang="en-US" id="label_CompassEnergiaLtdaMember_2">Compass Energia Ltda. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassEnergiaLtdaMember" xlink:to="label_CompassEnergiaLtdaMember_2" xlink:title="Label : CompassEnergiaLtdaMember to label_CompassEnergiaLtdaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BlackRiverParticipacoesLtdaMember" xlink:label="BlackRiverParticipacoesLtdaMember" xlink:title="BlackRiverParticipacoesLtdaMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BlackRiverParticipacoesLtdaMember" xlink:to="label_BlackRiverParticipacoesLtdaMember_1" xlink:title="Label : BlackRiverParticipacoesLtdaMember to label_BlackRiverParticipacoesLtdaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BlackRiverParticipacoesLtdaMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BlackRiverParticipacoesLtdaMember_2" xml:lang="en-US" id="label_BlackRiverParticipacoesLtdaMember_2">Black River Participacoes Ltda. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BlackRiverParticipacoesLtdaMember" xlink:to="label_BlackRiverParticipacoesLtdaMember_2" xlink:title="Label : BlackRiverParticipacoesLtdaMember to label_BlackRiverParticipacoesLtdaMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:label="AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:title="AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xml:lang="en-US" id="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract">Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:title="Label : AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract to label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" xml:lang="en-US" id="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1">The fair value of the assets and liabilities acquired is as follows:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" xlink:title="Label : AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract to label_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:title="CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate">Cash and cash equivalents recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:to="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:title="Label : CashAndCashEquivalentsRecognisedAsOfAcquisitionDate to label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_1">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:to="label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : CashAndCashEquivalentsRecognisedAsOfAcquisitionDate to label_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:label="TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:title="TradeReceivablesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TradeReceivablesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_TradeReceivablesRecognisedAsOfAcquisitionDate">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:title="Label : TradeReceivablesRecognisedAsOfAcquisitionDate to label_TradeReceivablesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradeReceivablesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_TradeReceivablesRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for trade receivables acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradeReceivablesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : TradeReceivablesRecognisedAsOfAcquisitionDate to label_TradeReceivablesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradeReceivablesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_TradeReceivablesRecognisedAsOfAcquisitionDate_2">Trade Receivables Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradeReceivablesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : TradeReceivablesRecognisedAsOfAcquisitionDate to label_TradeReceivablesRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:label="OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:title="OtherTaxReceivableRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate">Other Tax Receivable Recognised as Of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:to="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherTaxReceivableRecognisedAsOfAcquisitionDate to label_OtherTaxReceivableRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for other tax receivable acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:to="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherTaxReceivableRecognisedAsOfAcquisitionDate to label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_2">Other tax receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxReceivableRecognisedAsOfAcquisitionDate" xlink:to="label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherTaxReceivableRecognisedAsOfAcquisitionDate to label_OtherTaxReceivableRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:label="DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:title="DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate">Derivative Financial Instruments Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:to="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:title="Label : DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate to label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for derivative financial instruments acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:to="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate to label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_2">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" xlink:to="label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate to label_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:label="OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:title="OtherCurrentAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate">Other Current Assets Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherCurrentAssetsRecognisedAsOfAcquisitionDate to label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for other current assets acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherCurrentAssetsRecognisedAsOfAcquisitionDate to label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_2">Other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherCurrentAssetsRecognisedAsOfAcquisitionDate to label_OtherCurrentAssetsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:title="PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">Property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:to="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:title="Label : PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate to label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_1">Property, plant and equipment recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:to="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_1" xlink:title="Label : PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate to label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradePayablesRecognisedAsOfAcquisitionDate" xlink:label="TradePayablesRecognisedAsOfAcquisitionDate" xlink:title="TradePayablesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TradePayablesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TradePayablesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_TradePayablesRecognisedAsOfAcquisitionDate">Trade payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradePayablesRecognisedAsOfAcquisitionDate" xlink:title="Label : TradePayablesRecognisedAsOfAcquisitionDate to label_TradePayablesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TradePayablesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradePayablesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_TradePayablesRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for trade payables assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradePayablesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : TradePayablesRecognisedAsOfAcquisitionDate to label_TradePayablesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_TradePayablesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradePayablesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_TradePayablesRecognisedAsOfAcquisitionDate_2">Trade Payables Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradePayablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradePayablesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : TradePayablesRecognisedAsOfAcquisitionDate to label_TradePayablesRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:label="OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:title="OtherTaxesPayableRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate">Other taxes payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:to="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherTaxesPayableRecognisedAsOfAcquisitionDate to label_OtherTaxesPayableRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for other taxes payable assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:to="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherTaxesPayableRecognisedAsOfAcquisitionDate to label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_2">Other Taxes Payable Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxesPayableRecognisedAsOfAcquisitionDate" xlink:to="label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherTaxesPayableRecognisedAsOfAcquisitionDate to label_OtherTaxesPayableRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="OtherLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate">Other Liabilities Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherLiabilitiesRecognisedAsOfAcquisitionDate to label_OtherLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for other liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherLiabilitiesRecognisedAsOfAcquisitionDate to label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_2">Other liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherLiabilitiesRecognisedAsOfAcquisitionDate to label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate">Other financial liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate to label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for other financial liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate to label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_2">Other Financial Liabilities Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate to label_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsPayableRecognisedAsOfAcquisitionDate" xlink:label="DividendsPayableRecognisedAsOfAcquisitionDate" xlink:title="DividendsPayableRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DividendsPayableRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_DividendsPayableRecognisedAsOfAcquisitionDate">Dividends payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableRecognisedAsOfAcquisitionDate" xlink:to="label_DividendsPayableRecognisedAsOfAcquisitionDate" xlink:title="Label : DividendsPayableRecognisedAsOfAcquisitionDate to label_DividendsPayableRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsPayableRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_DividendsPayableRecognisedAsOfAcquisitionDate_1">The amount recognised as of the acquisition date for dividends payable assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableRecognisedAsOfAcquisitionDate" xlink:to="label_DividendsPayableRecognisedAsOfAcquisitionDate_1" xlink:title="Label : DividendsPayableRecognisedAsOfAcquisitionDate to label_DividendsPayableRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsPayableRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsPayableRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_DividendsPayableRecognisedAsOfAcquisitionDate_2">Dividends Payable Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableRecognisedAsOfAcquisitionDate" xlink:to="label_DividendsPayableRecognisedAsOfAcquisitionDate_2" xlink:title="Label : DividendsPayableRecognisedAsOfAcquisitionDate to label_DividendsPayableRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:label="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:title="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate">The amount recognised as of the acquisition date for payables to related parties assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:to="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:title="Label : PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate to label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_1">Payables to Related Parties Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:to="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate to label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_2">Related parts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:to="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate to label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_2" />
    <link:label xlink:type="resource" xlink:label="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_3" xml:lang="en-US" id="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_3">Payables to related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:to="label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_3" xlink:title="Label : PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate to label_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">Deferred tax liabilities recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="Label : DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate to label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_1">Deferred tax liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate to label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:title="IdentifiableAssetsAcquiredLiabilitiesAssumed" />
    <link:label xlink:type="resource" xlink:label="label_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IdentifiableAssetsAcquiredLiabilitiesAssumed" xml:lang="en-US" id="label_IdentifiableAssetsAcquiredLiabilitiesAssumed">Total net identifiable assets at fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="label_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:title="Label : IdentifiableAssetsAcquiredLiabilitiesAssumed to label_IdentifiableAssetsAcquiredLiabilitiesAssumed" />
    <link:label xlink:type="resource" xlink:label="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_1" xml:lang="en-US" id="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_1">Total net assets acquired and liabilities assumed at fair value(-)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_1" xlink:title="Label : IdentifiableAssetsAcquiredLiabilitiesAssumed to label_IdentifiableAssetsAcquiredLiabilitiesAssumed_1" />
    <link:label xlink:type="resource" xlink:label="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_2" xml:lang="en-US" id="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_2">Identifiable assets acquired (liabilities assumed)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_2" xlink:title="Label : IdentifiableAssetsAcquiredLiabilitiesAssumed to label_IdentifiableAssetsAcquiredLiabilitiesAssumed_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:label="AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:title="AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xml:lang="en-US" id="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract">Additional disclosures for amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:title="Label : AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract to label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" xml:lang="en-US" id="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1">The fair value of goodwill at the acquisition date consisted of:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract" xlink:to="label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" xlink:title="Label : AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract to label_AdditionalDisclosuresForAmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RadarGroupAcquisitionMember" xlink:label="RadarGroupAcquisitionMember" xlink:title="RadarGroupAcquisitionMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarGroupAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RadarGroupAcquisitionMember" xml:lang="en-US" id="label_RadarGroupAcquisitionMember">Radar group acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarGroupAcquisitionMember" xlink:to="label_RadarGroupAcquisitionMember" xlink:title="Label : RadarGroupAcquisitionMember to label_RadarGroupAcquisitionMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ConsiderationPaidReceived" xlink:label="ConsiderationPaidReceived" xlink:title="ConsiderationPaidReceived" />
    <link:label xlink:type="resource" xlink:label="label_ConsiderationPaidReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConsiderationPaidReceived" xml:lang="en-US" id="label_ConsiderationPaidReceived">Consideration paid (received)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsiderationPaidReceived" xlink:to="label_ConsiderationPaidReceived" xlink:title="Label : ConsiderationPaidReceived to label_ConsiderationPaidReceived" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="RevenueOfAcquiree" xlink:title="RevenueOfAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_RevenueOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueOfAcquiree" xml:lang="en-US" id="label_RevenueOfAcquiree">Net sale of subsidiaries acquired been consolidated since the acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueOfAcquiree" xlink:to="label_RevenueOfAcquiree" xlink:title="Label : RevenueOfAcquiree to label_RevenueOfAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_RevenueOfAcquiree_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueOfAcquiree_1" xml:lang="en-US" id="label_RevenueOfAcquiree_1">Revenue of acquiree since acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueOfAcquiree" xlink:to="label_RevenueOfAcquiree_1" xlink:title="Label : RevenueOfAcquiree to label_RevenueOfAcquiree_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossOfAcquiree" xlink:label="ProfitLossOfAcquiree" xlink:title="ProfitLossOfAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProfitLossOfAcquiree" xml:lang="en-US" id="label_ProfitLossOfAcquiree">Net profit of subsidiaries acquired been consolidated since the acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossOfAcquiree" xlink:to="label_ProfitLossOfAcquiree" xlink:title="Label : ProfitLossOfAcquiree to label_ProfitLossOfAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossOfAcquiree_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProfitLossOfAcquiree_1" xml:lang="en-US" id="label_ProfitLossOfAcquiree_1">Profit (loss) of acquiree since acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossOfAcquiree" xlink:to="label_ProfitLossOfAcquiree_1" xlink:title="Label : ProfitLossOfAcquiree to label_ProfitLossOfAcquiree_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xlink:label="DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xlink:title="DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xml:lang="en-US" id="label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract">Disclosure of Analysis of Changes in the Carrying Value of Investments in Joint Ventures [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xlink:to="label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xlink:title="Label : DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract to label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" xlink:to="label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract_1" xlink:title="Label : DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract to label_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfJointVenturesTable" xlink:label="DisclosureOfJointVenturesTable" xlink:title="DisclosureOfJointVenturesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfJointVenturesTable" xml:lang="en-US" id="label_DisclosureOfJointVenturesTable">Disclosure of joint ventures [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointVenturesTable" xlink:to="label_DisclosureOfJointVenturesTable" xlink:title="Label : DisclosureOfJointVenturesTable to label_DisclosureOfJointVenturesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfJointVenturesTable_1" xml:lang="en-US" id="label_DisclosureOfJointVenturesTable_1">Disclosure of joint ventures [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointVenturesTable" xlink:to="label_DisclosureOfJointVenturesTable_1" xlink:title="Label : DisclosureOfJointVenturesTable to label_DisclosureOfJointVenturesTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenEnergiaSAMember" xlink:label="RaizenEnergiaSAMember" xlink:title="RaizenEnergiaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenEnergiaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenEnergiaSAMember" xml:lang="en-US" id="label_RaizenEnergiaSAMember">Raizen Energia S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenEnergiaSAMember" xlink:to="label_RaizenEnergiaSAMember" xlink:title="Label : RaizenEnergiaSAMember to label_RaizenEnergiaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenEnergiaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenEnergiaSAMember_1" xml:lang="en-US" id="label_RaizenEnergiaSAMember_1">Raizen Energia S A [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenEnergiaSAMember" xlink:to="label_RaizenEnergiaSAMember_1" xlink:title="Label : RaizenEnergiaSAMember to label_RaizenEnergiaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenEnergiaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenEnergiaSAMember_2" xml:lang="en-US" id="label_RaizenEnergiaSAMember_2">Raizen Energia S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenEnergiaSAMember" xlink:to="label_RaizenEnergiaSAMember_2" xlink:title="Label : RaizenEnergiaSAMember to label_RaizenEnergiaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfJointVenturesLineItems" xlink:label="DisclosureOfJointVenturesLineItems" xlink:title="DisclosureOfJointVenturesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfJointVenturesLineItems" xml:lang="en-US" id="label_DisclosureOfJointVenturesLineItems">Disclosure of joint ventures [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointVenturesLineItems" xlink:to="label_DisclosureOfJointVenturesLineItems" xlink:title="Label : DisclosureOfJointVenturesLineItems to label_DisclosureOfJointVenturesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfJointVenturesLineItems_1" xml:lang="en-US" id="label_DisclosureOfJointVenturesLineItems_1">Disclosure of joint ventures [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointVenturesLineItems" xlink:to="label_DisclosureOfJointVenturesLineItems_1" xlink:title="Label : DisclosureOfJointVenturesLineItems to label_DisclosureOfJointVenturesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_2" xml:lang="en-US" id="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_2">Share Of Total Comprehensive Income Of Joint Ventures Accounted For Using Equity Method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_2" xlink:title="Label : ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod to label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_2" />
    <link:label xlink:type="resource" xlink:label="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_3" xml:lang="en-US" id="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_3">Share Of Total Comprehensive Income Of Joint Ventures Accounted For Using Equity Method.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" xlink:to="label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_3" xlink:title="Label : ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod to label_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestOnCapital" xlink:label="InterestOnCapital" xlink:title="InterestOnCapital" />
    <link:label xlink:type="resource" xlink:label="label_InterestOnCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestOnCapital" xml:lang="en-US" id="label_InterestOnCapital">Interest on capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnCapital" xlink:to="label_InterestOnCapital" xlink:title="Label : InterestOnCapital to label_InterestOnCapital" />
    <link:label xlink:type="resource" xlink:label="label_InterestOnCapital_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestOnCapital_1" xml:lang="en-US" id="label_InterestOnCapital_1">Interest on capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnCapital" xlink:to="label_InterestOnCapital_1" xlink:title="Label : InterestOnCapital to label_InterestOnCapital_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestOnCapital_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestOnCapital_2" xml:lang="en-US" id="label_InterestOnCapital_2">Interest on capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnCapital" xlink:to="label_InterestOnCapital_2" xlink:title="Label : InterestOnCapital to label_InterestOnCapital_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendsReceivedFromJointVentures" xlink:label="DividendsReceivedFromJointVentures" xlink:title="DividendsReceivedFromJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivedFromJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendsReceivedFromJointVentures" xml:lang="en-US" id="label_DividendsReceivedFromJointVentures">Dividends received from joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivedFromJointVentures" xlink:to="label_DividendsReceivedFromJointVentures" xlink:title="Label : DividendsReceivedFromJointVentures to label_DividendsReceivedFromJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivedFromJointVentures_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendsReceivedFromJointVentures_1" xml:lang="en-US" id="label_DividendsReceivedFromJointVentures_1">Dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivedFromJointVentures" xlink:to="label_DividendsReceivedFromJointVentures_1" xlink:title="Label : DividendsReceivedFromJointVentures to label_DividendsReceivedFromJointVentures_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendsReceivedFromJointVentures_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendsReceivedFromJointVentures_2" xml:lang="en-US" id="label_DividendsReceivedFromJointVentures_2">Dividends received from joint ventures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsReceivedFromJointVentures" xlink:to="label_DividendsReceivedFromJointVentures_2" xlink:title="Label : DividendsReceivedFromJointVentures to label_DividendsReceivedFromJointVentures_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfJointVenturesAbstract" xlink:label="DisclosureOfJointVenturesAbstract" xlink:title="DisclosureOfJointVenturesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJointVenturesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfJointVenturesAbstract" xml:lang="en-US" id="label_DisclosureOfJointVenturesAbstract">Disclosure of joint ventures [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJointVenturesAbstract" xlink:to="label_DisclosureOfJointVenturesAbstract" xlink:title="Label : DisclosureOfJointVenturesAbstract to label_DisclosureOfJointVenturesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NewIFRSsAxis" xlink:label="NewIFRSsAxis" xlink:title="NewIFRSsAxis" />
    <link:label xlink:type="resource" xlink:label="label_NewIFRSsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewIFRSsAxis" xml:lang="en-US" id="label_NewIFRSsAxis">New IFRSs [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIFRSsAxis" xlink:to="label_NewIFRSsAxis" xlink:title="Label : NewIFRSsAxis to label_NewIFRSsAxis" />
    <link:label xlink:type="resource" xlink:label="label_NewIFRSsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewIFRSsAxis_1" xml:lang="en-US" id="label_NewIFRSsAxis_1">New IFRSs [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIFRSsAxis" xlink:to="label_NewIFRSsAxis_1" xlink:title="Label : NewIFRSsAxis to label_NewIFRSsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NewIFRSsMember" xlink:label="NewIFRSsMember" xlink:title="NewIFRSsMember" />
    <link:label xlink:type="resource" xlink:label="label_NewIFRSsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewIFRSsMember" xml:lang="en-US" id="label_NewIFRSsMember">New IFRSs [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIFRSsMember" xlink:to="label_NewIFRSsMember" xlink:title="Label : NewIFRSsMember to label_NewIFRSsMember" />
    <link:label xlink:type="resource" xlink:label="label_NewIFRSsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewIFRSsMember_1" xml:lang="en-US" id="label_NewIFRSsMember_1">New IFRSs [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewIFRSsMember" xlink:to="label_NewIFRSsMember_1" xlink:title="Label : NewIFRSsMember to label_NewIFRSsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IfrsSixteenMember" xlink:label="IfrsSixteenMember" xlink:title="IfrsSixteenMember" />
    <link:label xlink:type="resource" xlink:label="label_IfrsSixteenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IfrsSixteenMember" xml:lang="en-US" id="label_IfrsSixteenMember">IFRS Sixteen [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IfrsSixteenMember" xlink:to="label_IfrsSixteenMember" xlink:title="Label : IfrsSixteenMember to label_IfrsSixteenMember" />
    <link:label xlink:type="resource" xlink:label="label_IfrsSixteenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IfrsSixteenMember_1" xml:lang="en-US" id="label_IfrsSixteenMember_1">IFRS Sixteen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IfrsSixteenMember" xlink:to="label_IfrsSixteenMember_1" xlink:title="Label : IfrsSixteenMember to label_IfrsSixteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IfrsSixteenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IfrsSixteenMember_2" xml:lang="en-US" id="label_IfrsSixteenMember_2">IFRS Sixteen [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IfrsSixteenMember" xlink:to="label_IfrsSixteenMember_2" xlink:title="Label : IfrsSixteenMember to label_IfrsSixteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfJointVentures" xlink:label="NumberOfJointVentures" xlink:title="NumberOfJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfJointVentures" xml:lang="en-US" id="label_NumberOfJointVentures">Number of joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfJointVentures" xlink:to="label_NumberOfJointVentures" xlink:title="Label : NumberOfJointVentures to label_NumberOfJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfJointVentures_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfJointVentures_1" xml:lang="en-US" id="label_NumberOfJointVentures_1">Number of joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfJointVentures" xlink:to="label_NumberOfJointVentures_1" xlink:title="Label : NumberOfJointVentures to label_NumberOfJointVentures_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfJointVentures_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfJointVentures_2" xml:lang="en-US" id="label_NumberOfJointVentures_2">Number of joint ventures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfJointVentures" xlink:to="label_NumberOfJointVentures_2" xlink:title="Label : NumberOfJointVentures to label_NumberOfJointVentures_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UndrawnBorrowingFacilities" xlink:label="UndrawnBorrowingFacilities" xlink:title="UndrawnBorrowingFacilities" />
    <link:label xlink:type="resource" xlink:label="label_UndrawnBorrowingFacilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UndrawnBorrowingFacilities" xml:lang="en-US" id="label_UndrawnBorrowingFacilities">Undrawn borrowing facilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UndrawnBorrowingFacilities" xlink:to="label_UndrawnBorrowingFacilities" xlink:title="Label : UndrawnBorrowingFacilities to label_UndrawnBorrowingFacilities" />
    <link:label xlink:type="resource" xlink:label="label_UndrawnBorrowingFacilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UndrawnBorrowingFacilities_1" xml:lang="en-US" id="label_UndrawnBorrowingFacilities_1">Credit facility unused</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UndrawnBorrowingFacilities" xlink:to="label_UndrawnBorrowingFacilities_1" xlink:title="Label : UndrawnBorrowingFacilities to label_UndrawnBorrowingFacilities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract">Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract to label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfIntangibleAssetsTable" xlink:label="DisclosureOfIntangibleAssetsTable" xlink:title="DisclosureOfIntangibleAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfIntangibleAssetsTable" xml:lang="en-US" id="label_DisclosureOfIntangibleAssetsTable">Disclosure of detailed information about intangible assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfIntangibleAssetsTable" xlink:to="label_DisclosureOfIntangibleAssetsTable" xlink:title="Label : DisclosureOfIntangibleAssetsTable to label_DisclosureOfIntangibleAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfIntangibleAssetsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfIntangibleAssetsTable_1" xml:lang="en-US" id="label_DisclosureOfIntangibleAssetsTable_1">Disclosure of detailed information about intangible assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfIntangibleAssetsTable" xlink:to="label_DisclosureOfIntangibleAssetsTable_1" xlink:title="Label : DisclosureOfIntangibleAssetsTable to label_DisclosureOfIntangibleAssetsTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:title="ClassesOfIntangibleAssetsAndGoodwillAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfIntangibleAssetsAndGoodwillAxis" xml:lang="en-US" id="label_ClassesOfIntangibleAssetsAndGoodwillAxis">Classes of intangible assets and goodwill [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="label_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:title="Label : ClassesOfIntangibleAssetsAndGoodwillAxis to label_ClassesOfIntangibleAssetsAndGoodwillAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfIntangibleAssetsAndGoodwillAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfIntangibleAssetsAndGoodwillAxis_1" xml:lang="en-US" id="label_ClassesOfIntangibleAssetsAndGoodwillAxis_1">Classes of intangible assets and goodwill [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="label_ClassesOfIntangibleAssetsAndGoodwillAxis_1" xlink:title="Label : ClassesOfIntangibleAssetsAndGoodwillAxis to label_ClassesOfIntangibleAssetsAndGoodwillAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="IntangibleAssetsAndGoodwillMember" xlink:title="IntangibleAssetsAndGoodwillMember" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwillMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsAndGoodwillMember" xml:lang="en-US" id="label_IntangibleAssetsAndGoodwillMember">Intangible assets and goodwill [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwillMember" xlink:to="label_IntangibleAssetsAndGoodwillMember" xlink:title="Label : IntangibleAssetsAndGoodwillMember to label_IntangibleAssetsAndGoodwillMember" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsAndGoodwillMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntangibleAssetsAndGoodwillMember_1" xml:lang="en-US" id="label_IntangibleAssetsAndGoodwillMember_1">Intangible assets and goodwill [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsAndGoodwillMember" xlink:to="label_IntangibleAssetsAndGoodwillMember_1" xlink:title="Label : IntangibleAssetsAndGoodwillMember to label_IntangibleAssetsAndGoodwillMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:label="IntangibleAssetsOtherThanGoodwillMember" xlink:title="IntangibleAssetsOtherThanGoodwillMember" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwillMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsOtherThanGoodwillMember" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwillMember">Intangible assets other than goodwill [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsOtherThanGoodwillMember" xlink:to="label_IntangibleAssetsOtherThanGoodwillMember" xlink:title="Label : IntangibleAssetsOtherThanGoodwillMember to label_IntangibleAssetsOtherThanGoodwillMember" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwillMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntangibleAssetsOtherThanGoodwillMember_1" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwillMember_1">Intangible assets other than goodwill [member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember_1" xml:lang="en-US" id="label_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesMember_1">Cash-generating units [member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2021/country-2021.xsd#country_GB" xlink:label="GB" xlink:title="GB" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GB" xlink:to="label_GB" xlink:title="Label : GB to label_GB" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="BorrowingCostsCapitalised" xlink:title="BorrowingCostsCapitalised" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:label="CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:title="CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:title="ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" xlink:to="label_ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets_3" xlink:title="Label : ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets to label_ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AssumptionPeriodForCashGeneratingUnit" xlink:label="AssumptionPeriodForCashGeneratingUnit" xlink:title="AssumptionPeriodForCashGeneratingUnit" />
    <link:label xlink:type="resource" xlink:label="label_AssumptionPeriodForCashGeneratingUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssumptionPeriodForCashGeneratingUnit" xml:lang="en-US" id="label_AssumptionPeriodForCashGeneratingUnit">Assumption Period for Cash Generating Unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionPeriodForCashGeneratingUnit" xlink:to="label_AssumptionPeriodForCashGeneratingUnit" xlink:title="Label : AssumptionPeriodForCashGeneratingUnit to label_AssumptionPeriodForCashGeneratingUnit" />
    <link:label xlink:type="resource" xlink:label="label_AssumptionPeriodForCashGeneratingUnit_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssumptionPeriodForCashGeneratingUnit_1" xml:lang="en-US" id="label_AssumptionPeriodForCashGeneratingUnit_1">The assumption period for cash-generating unit for impairment test conducted by the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionPeriodForCashGeneratingUnit" xlink:to="label_AssumptionPeriodForCashGeneratingUnit_1" xlink:title="Label : AssumptionPeriodForCashGeneratingUnit to label_AssumptionPeriodForCashGeneratingUnit_1" />
    <link:label xlink:type="resource" xlink:label="label_AssumptionPeriodForCashGeneratingUnit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssumptionPeriodForCashGeneratingUnit_2" xml:lang="en-US" id="label_AssumptionPeriodForCashGeneratingUnit_2">Assumption period for cash-generating unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionPeriodForCashGeneratingUnit" xlink:to="label_AssumptionPeriodForCashGeneratingUnit_2" xlink:title="Label : AssumptionPeriodForCashGeneratingUnit to label_AssumptionPeriodForCashGeneratingUnit_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:label="WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:title="WeightedAverageCostOfCapitalBeforeTaxesPercentage" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage" xml:lang="en-US" id="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage">Weighted Average Cost of Capital before Taxes Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:to="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:title="Label : WeightedAverageCostOfCapitalBeforeTaxesPercentage to label_WeightedAverageCostOfCapitalBeforeTaxesPercentage" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_1" xml:lang="en-US" id="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_1">The percentage of weighted average cost of capital before taxes for impairment test.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:to="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_1" xlink:title="Label : WeightedAverageCostOfCapitalBeforeTaxesPercentage to label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_2" xml:lang="en-US" id="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_2">Weighted average cost of capital before taxes, percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageCostOfCapitalBeforeTaxesPercentage" xlink:to="label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_2" xlink:title="Label : WeightedAverageCostOfCapitalBeforeTaxesPercentage to label_WeightedAverageCostOfCapitalBeforeTaxesPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ImpairmentTestsRecoverableValue" xlink:label="ImpairmentTestsRecoverableValue" xlink:title="ImpairmentTestsRecoverableValue" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentTestsRecoverableValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentTestsRecoverableValue" xml:lang="en-US" id="label_ImpairmentTestsRecoverableValue">Impairment Tests Recoverable Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentTestsRecoverableValue" xlink:to="label_ImpairmentTestsRecoverableValue" xlink:title="Label : ImpairmentTestsRecoverableValue to label_ImpairmentTestsRecoverableValue" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentTestsRecoverableValue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ImpairmentTestsRecoverableValue_1" xml:lang="en-US" id="label_ImpairmentTestsRecoverableValue_1">Recoverable value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentTestsRecoverableValue" xlink:to="label_ImpairmentTestsRecoverableValue_1" xlink:title="Label : ImpairmentTestsRecoverableValue to label_ImpairmentTestsRecoverableValue_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentTestsRecoverableValue" xlink:to="label_ImpairmentTestsRecoverableValue_2" xlink:title="Label : ImpairmentTestsRecoverableValue to label_ImpairmentTestsRecoverableValue_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:label="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:title="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xml:lang="en-US" id="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets">Book Value of Property Plant and Equipment and Intangible Assets and Right of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:to="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:title="Label : BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets to label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_1" xml:lang="en-US" id="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_1">The amount of book value of property, plant and equipment and intangible assets and right-of-use assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:to="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_1" xlink:title="Label : BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets to label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_2" xml:lang="en-US" id="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_2">Book value of property, plant and equipment and intangible assets and right-of-use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" xlink:to="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_2" xlink:title="Label : BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets to label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:label="DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:title="DescriptionOfDiscountRatesAppliedToCashFlowProjections" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xml:lang="en-US" id="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections">Discount rate applied to future cash flows</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:to="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:title="Label : DescriptionOfDiscountRatesAppliedToCashFlowProjections to label_DescriptionOfDiscountRatesAppliedToCashFlowProjections" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_1" xml:lang="en-US" id="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_1">Discount rate applied to cash flow projections</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:to="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_1" xlink:title="Label : DescriptionOfDiscountRatesAppliedToCashFlowProjections to label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:label="GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:title="GrowthRateBasisUsedToExtrapolateCashFlowProjections" />
    <link:label xlink:type="resource" xlink:label="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections" xml:lang="en-US" id="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections">Growth Rate Basis Used to Extrapolate Cash Flow Projections</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:to="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:title="Label : GrowthRateBasisUsedToExtrapolateCashFlowProjections to label_GrowthRateBasisUsedToExtrapolateCashFlowProjections" />
    <link:label xlink:type="resource" xlink:label="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_1" xml:lang="en-US" id="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_1">The basis (reference rate) used for calculation of the growth rate which is used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:to="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_1" xlink:title="Label : GrowthRateBasisUsedToExtrapolateCashFlowProjections to label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_1" />
    <link:label xlink:type="resource" xlink:label="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_2" xml:lang="en-US" id="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_2">Growth rate basis which is calculated using inflation index per region</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:to="label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_2" xlink:title="Label : GrowthRateBasisUsedToExtrapolateCashFlowProjections to label_GrowthRateBasisUsedToExtrapolateCashFlowProjections_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:label="AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:title="AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" xml:lang="en-US" id="label_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections">Adjustment to Growth Rate Basis Used to Extrapolate Cash Flow Projections</link:label>
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    <link:label xlink:type="resource" xlink:label="label_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections_1" xml:lang="en-US" id="label_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections_1">The adjustment to the basis (reference rate) used for calculation of the growth rate which is used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units).</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ImpairmentLoss" xlink:label="ImpairmentLoss" xlink:title="ImpairmentLoss" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLoss" xlink:to="label_ImpairmentLoss" xlink:title="Label : ImpairmentLoss to label_ImpairmentLoss" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLoss_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImpairmentLoss_1" xml:lang="en-US" id="label_ImpairmentLoss_1">Impairment loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLoss" xlink:to="label_ImpairmentLoss_1" xlink:title="Label : ImpairmentLoss to label_ImpairmentLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLoss_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ImpairmentLoss_2" xml:lang="en-US" id="label_ImpairmentLoss_2">Impairment of assets and goodwill recognized</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:label="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:title="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" />
    <link:label xlink:type="resource" xlink:label="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xml:lang="en-US" id="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets">Book value of property, plant and equipment and intangible assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:to="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:title="Label : BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets to label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" />
    <link:label xlink:type="resource" xlink:label="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_1" xml:lang="en-US" id="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_1">Book value of property, plant and equipment and intangible assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:to="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_1" xlink:title="Label : BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets to label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_2" xml:lang="en-US" id="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_2">Book value of property, plant and equipment and intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" xlink:to="label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_2" xlink:title="Label : BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets to label_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfAgreementOfIntangibleAssets" xlink:label="DescriptionOfAgreementOfIntangibleAssets" xlink:title="DescriptionOfAgreementOfIntangibleAssets" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAgreementOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAgreementOfIntangibleAssets" xml:lang="en-US" id="label_DescriptionOfAgreementOfIntangibleAssets">Description Of Agreement Of Intangible Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAgreementOfIntangibleAssets" xlink:to="label_DescriptionOfAgreementOfIntangibleAssets" xlink:title="Label : DescriptionOfAgreementOfIntangibleAssets to label_DescriptionOfAgreementOfIntangibleAssets" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAgreementOfIntangibleAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAgreementOfIntangibleAssets_1" xml:lang="en-US" id="label_DescriptionOfAgreementOfIntangibleAssets_1">Description of agreement related to intangible assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAgreementOfIntangibleAssets" xlink:to="label_DescriptionOfAgreementOfIntangibleAssets_1" xlink:title="Label : DescriptionOfAgreementOfIntangibleAssets to label_DescriptionOfAgreementOfIntangibleAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAgreementOfIntangibleAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfAgreementOfIntangibleAssets_2" xml:lang="en-US" id="label_DescriptionOfAgreementOfIntangibleAssets_2">Description of agreement of intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAgreementOfIntangibleAssets" xlink:to="label_DescriptionOfAgreementOfIntangibleAssets_2" xlink:title="Label : DescriptionOfAgreementOfIntangibleAssets to label_DescriptionOfAgreementOfIntangibleAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentTable" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentTable">Disclosure of detailed information about property, plant and equipment [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentTable" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentTable to label_DisclosureOfPropertyPlantAndEquipmentTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentTable_1" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentTable_1">Disclosure of detailed information about property, plant and equipment [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentTable_1" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentTable to label_DisclosureOfPropertyPlantAndEquipmentTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentLineItems" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentLineItems">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentLineItems to label_DisclosureOfPropertyPlantAndEquipmentLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentLineItems_1" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentLineItems_1">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentLineItems_1" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentLineItems to label_DisclosureOfPropertyPlantAndEquipmentLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="DisclosureOfPropertyPlantAndEquipmentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentAbstract" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentAbstract">Disclosure of detailed information about property, plant and equipment [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentAbstract to label_DisclosureOfPropertyPlantAndEquipmentAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BuildingsAndImprovementsMember" xlink:label="BuildingsAndImprovementsMember" xlink:title="BuildingsAndImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="label_BuildingsAndImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BuildingsAndImprovementsMember" xml:lang="en-US" id="label_BuildingsAndImprovementsMember">Buildings and improvements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingsAndImprovementsMember" xlink:to="label_BuildingsAndImprovementsMember" xlink:title="Label : BuildingsAndImprovementsMember to label_BuildingsAndImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="label_BuildingsAndImprovementsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BuildingsAndImprovementsMember_1" xml:lang="en-US" id="label_BuildingsAndImprovementsMember_1">Buildings and improvements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingsAndImprovementsMember" xlink:to="label_BuildingsAndImprovementsMember_1" xlink:title="Label : BuildingsAndImprovementsMember to label_BuildingsAndImprovementsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BuildingsAndImprovementsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BuildingsAndImprovementsMember_2" xml:lang="en-US" id="label_BuildingsAndImprovementsMember_2">Buildings and improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuildingsAndImprovementsMember" xlink:to="label_BuildingsAndImprovementsMember_2" xlink:title="Label : BuildingsAndImprovementsMember to label_BuildingsAndImprovementsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MachineryEquipmentAndFacilitiesMember" xlink:label="MachineryEquipmentAndFacilitiesMember" xlink:title="MachineryEquipmentAndFacilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_MachineryEquipmentAndFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MachineryEquipmentAndFacilitiesMember" xml:lang="en-US" id="label_MachineryEquipmentAndFacilitiesMember">This member stands for the information pertaining to machinery, equipment and facilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MachineryEquipmentAndFacilitiesMember" xlink:to="label_MachineryEquipmentAndFacilitiesMember" xlink:title="Label : MachineryEquipmentAndFacilitiesMember to label_MachineryEquipmentAndFacilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_MachineryEquipmentAndFacilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MachineryEquipmentAndFacilitiesMember_1" xml:lang="en-US" id="label_MachineryEquipmentAndFacilitiesMember_1">Machinery, equipment and facilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MachineryEquipmentAndFacilitiesMember" xlink:to="label_MachineryEquipmentAndFacilitiesMember_1" xlink:title="Label : MachineryEquipmentAndFacilitiesMember to label_MachineryEquipmentAndFacilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MachineryEquipmentAndFacilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MachineryEquipmentAndFacilitiesMember_2" xml:lang="en-US" id="label_MachineryEquipmentAndFacilitiesMember_2">Machinery, equipment and facilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MachineryEquipmentAndFacilitiesMember" xlink:to="label_MachineryEquipmentAndFacilitiesMember_2" xlink:title="Label : MachineryEquipmentAndFacilitiesMember to label_MachineryEquipmentAndFacilitiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_VehiclesMember" xlink:label="VehiclesMember" xlink:title="VehiclesMember" />
    <link:label xlink:type="resource" xlink:label="label_VehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VehiclesMember" xml:lang="en-US" id="label_VehiclesMember">Vehicles [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VehiclesMember" xlink:to="label_VehiclesMember" xlink:title="Label : VehiclesMember to label_VehiclesMember" />
    <link:label xlink:type="resource" xlink:label="label_VehiclesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VehiclesMember_1" xml:lang="en-US" id="label_VehiclesMember_1">Airplanes, vessels and vehicles [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VehiclesMember" xlink:to="label_VehiclesMember_1" xlink:title="Label : VehiclesMember to label_VehiclesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailcarsMember" xlink:label="RailcarsMember" xlink:title="RailcarsMember" />
    <link:label xlink:type="resource" xlink:label="label_RailcarsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RailcarsMember" xml:lang="en-US" id="label_RailcarsMember">Railcars [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailcarsMember" xlink:to="label_RailcarsMember" xlink:title="Label : RailcarsMember to label_RailcarsMember" />
    <link:label xlink:type="resource" xlink:label="label_RailcarsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RailcarsMember_1" xml:lang="en-US" id="label_RailcarsMember_1">Railcars [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailcarsMember" xlink:to="label_RailcarsMember_1" xlink:title="Label : RailcarsMember to label_RailcarsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RailcarsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RailcarsMember_2" xml:lang="en-US" id="label_RailcarsMember_2">Railcars.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailcarsMember" xlink:to="label_RailcarsMember_2" xlink:title="Label : RailcarsMember to label_RailcarsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LocomotivesMember" xlink:label="LocomotivesMember" xlink:title="LocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_LocomotivesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LocomotivesMember" xml:lang="en-US" id="label_LocomotivesMember">Locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocomotivesMember" xlink:to="label_LocomotivesMember" xlink:title="Label : LocomotivesMember to label_LocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_LocomotivesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LocomotivesMember_1" xml:lang="en-US" id="label_LocomotivesMember_1">Locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocomotivesMember" xlink:to="label_LocomotivesMember_1" xlink:title="Label : LocomotivesMember to label_LocomotivesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LocomotivesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LocomotivesMember_2" xml:lang="en-US" id="label_LocomotivesMember_2">Locomotives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocomotivesMember" xlink:to="label_LocomotivesMember_2" xlink:title="Label : LocomotivesMember to label_LocomotivesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PermanentRailwaysMember" xlink:label="PermanentRailwaysMember" xlink:title="PermanentRailwaysMember" />
    <link:label xlink:type="resource" xlink:label="label_PermanentRailwaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PermanentRailwaysMember" xml:lang="en-US" id="label_PermanentRailwaysMember">Permanent railways [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PermanentRailwaysMember" xlink:to="label_PermanentRailwaysMember" xlink:title="Label : PermanentRailwaysMember to label_PermanentRailwaysMember" />
    <link:label xlink:type="resource" xlink:label="label_PermanentRailwaysMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PermanentRailwaysMember_1" xml:lang="en-US" id="label_PermanentRailwaysMember_1">Permanent railways [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PermanentRailwaysMember" xlink:to="label_PermanentRailwaysMember_1" xlink:title="Label : PermanentRailwaysMember to label_PermanentRailwaysMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PermanentRailwaysMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PermanentRailwaysMember_2" xml:lang="en-US" id="label_PermanentRailwaysMember_2">Permanent railways.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PermanentRailwaysMember" xlink:to="label_PermanentRailwaysMember_2" xlink:title="Label : PermanentRailwaysMember to label_PermanentRailwaysMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FixturesAndFittingsMember" xlink:label="FixturesAndFittingsMember" xlink:title="FixturesAndFittingsMember" />
    <link:label xlink:type="resource" xlink:label="label_FixturesAndFittingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FixturesAndFittingsMember" xml:lang="en-US" id="label_FixturesAndFittingsMember">Fixtures and fittings [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixturesAndFittingsMember" xlink:to="label_FixturesAndFittingsMember" xlink:title="Label : FixturesAndFittingsMember to label_FixturesAndFittingsMember" />
    <link:label xlink:type="resource" xlink:label="label_FixturesAndFittingsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FixturesAndFittingsMember_1" xml:lang="en-US" id="label_FixturesAndFittingsMember_1">Furniture and fixtures [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixturesAndFittingsMember" xlink:to="label_FixturesAndFittingsMember_1" xlink:title="Label : FixturesAndFittingsMember to label_FixturesAndFittingsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComputerEquipmentMember" xlink:label="ComputerEquipmentMember" xlink:title="ComputerEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_ComputerEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComputerEquipmentMember" xml:lang="en-US" id="label_ComputerEquipmentMember">Computer equipment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerEquipmentMember" xlink:to="label_ComputerEquipmentMember" xlink:title="Label : ComputerEquipmentMember to label_ComputerEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_ComputerEquipmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComputerEquipmentMember_1" xml:lang="en-US" id="label_ComputerEquipmentMember_1">Computer equipment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerEquipmentMember" xlink:to="label_ComputerEquipmentMember_1" xlink:title="Label : ComputerEquipmentMember to label_ComputerEquipmentMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LandAndBuildingsMember" xlink:label="LandAndBuildingsMember" xlink:title="LandAndBuildingsMember" />
    <link:label xlink:type="resource" xlink:label="label_LandAndBuildingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LandAndBuildingsMember" xml:lang="en-US" id="label_LandAndBuildingsMember">Land and buildings [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAndBuildingsMember" xlink:to="label_LandAndBuildingsMember" xlink:title="Label : LandAndBuildingsMember to label_LandAndBuildingsMember" />
    <link:label xlink:type="resource" xlink:label="label_LandAndBuildingsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LandAndBuildingsMember_1" xml:lang="en-US" id="label_LandAndBuildingsMember_1">Land, buildings and improvements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAndBuildingsMember" xlink:to="label_LandAndBuildingsMember_1" xlink:title="Label : LandAndBuildingsMember to label_LandAndBuildingsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailcarsAndLocomotivesMember" xlink:label="RailcarsAndLocomotivesMember" xlink:title="RailcarsAndLocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_RailcarsAndLocomotivesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RailcarsAndLocomotivesMember" xml:lang="en-US" id="label_RailcarsAndLocomotivesMember">This member stands for the information pertaining to railcars and Locomotives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailcarsAndLocomotivesMember" xlink:to="label_RailcarsAndLocomotivesMember" xlink:title="Label : RailcarsAndLocomotivesMember to label_RailcarsAndLocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_RailcarsAndLocomotivesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RailcarsAndLocomotivesMember_1" xml:lang="en-US" id="label_RailcarsAndLocomotivesMember_1">Railcars and locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailcarsAndLocomotivesMember" xlink:to="label_RailcarsAndLocomotivesMember_1" xlink:title="Label : RailcarsAndLocomotivesMember to label_RailcarsAndLocomotivesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RailcarsAndLocomotivesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RailcarsAndLocomotivesMember_2" xml:lang="en-US" id="label_RailcarsAndLocomotivesMember_2">Railcars and Locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailcarsAndLocomotivesMember" xlink:to="label_RailcarsAndLocomotivesMember_2" xlink:title="Label : RailcarsAndLocomotivesMember to label_RailcarsAndLocomotivesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PermanentEasementMember" xlink:label="PermanentEasementMember" xlink:title="PermanentEasementMember" />
    <link:label xlink:type="resource" xlink:label="label_PermanentEasementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PermanentEasementMember" xml:lang="en-US" id="label_PermanentEasementMember">Permanent Easement [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PermanentEasementMember" xlink:to="label_PermanentEasementMember" xlink:title="Label : PermanentEasementMember to label_PermanentEasementMember" />
    <link:label xlink:type="resource" xlink:label="label_PermanentEasementMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PermanentEasementMember_1" xml:lang="en-US" id="label_PermanentEasementMember_1">This member stands for the information pertaining to permanent easement as a part of property plant and equipment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PermanentEasementMember" xlink:to="label_PermanentEasementMember_1" xlink:title="Label : PermanentEasementMember to label_PermanentEasementMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PermanentEasementMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PermanentEasementMember_2" xml:lang="en-US" id="label_PermanentEasementMember_2">Permanent easement [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PermanentEasementMember" xlink:to="label_PermanentEasementMember_2" xlink:title="Label : PermanentEasementMember to label_PermanentEasementMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:label="OtherPropertyPlantAndEquipmentMember" xlink:title="OtherPropertyPlantAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherPropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherPropertyPlantAndEquipmentMember" xml:lang="en-US" id="label_OtherPropertyPlantAndEquipmentMember">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPropertyPlantAndEquipmentMember" xlink:to="label_OtherPropertyPlantAndEquipmentMember" xlink:title="Label : OtherPropertyPlantAndEquipmentMember to label_OtherPropertyPlantAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherPropertyPlantAndEquipmentMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherPropertyPlantAndEquipmentMember_1" xml:lang="en-US" id="label_OtherPropertyPlantAndEquipmentMember_1">Other property, plant and equipment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPropertyPlantAndEquipmentMember" xlink:to="label_OtherPropertyPlantAndEquipmentMember_1" xlink:title="Label : OtherPropertyPlantAndEquipmentMember to label_OtherPropertyPlantAndEquipmentMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:label="AccumulatedDepreciationAndAmortisationMember" xlink:title="AccumulatedDepreciationAndAmortisationMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedDepreciationAndAmortisationMember" xml:lang="en-US" id="label_AccumulatedDepreciationAndAmortisationMember">Accumulated depreciation and amortisation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortisationMember" xlink:to="label_AccumulatedDepreciationAndAmortisationMember" xlink:title="Label : AccumulatedDepreciationAndAmortisationMember to label_AccumulatedDepreciationAndAmortisationMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAndAmortisationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedDepreciationAndAmortisationMember_1" xml:lang="en-US" id="label_AccumulatedDepreciationAndAmortisationMember_1">Depreciation and Amortization [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortisationMember" xlink:to="label_AccumulatedDepreciationAndAmortisationMember_1" xlink:title="Label : AccumulatedDepreciationAndAmortisationMember to label_AccumulatedDepreciationAndAmortisationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedDepreciationAndAmortisationMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AccumulatedDepreciationAndAmortisationMember_2" xml:lang="en-US" id="label_AccumulatedDepreciationAndAmortisationMember_2">Accumulated depreciation and amortisation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedDepreciationAndAmortisationMember" xlink:to="label_AccumulatedDepreciationAndAmortisationMember_2" xlink:title="Label : AccumulatedDepreciationAndAmortisationMember to label_AccumulatedDepreciationAndAmortisationMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:label="IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:title="IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xml:lang="en-US" id="label_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember">Increase (decrease) due to changes in accounting policy and corrections of prior period errors [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:to="label_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" xlink:title="Label : IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember to label_IncreaseDecreaseDueToChangesInAccountingPolicyAndCorrectionsOfPriorPeriodErrorsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xml:lang="en-US" id="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">Additions other than through business combinations, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:title="Label : AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment to label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_1">Additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_1" xlink:title="Label : AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment to label_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_1" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_1">Acquisitions through business combinations, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_1" xlink:title="Label : AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment to label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_1" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_2" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_2">Business Combination (note 9.3)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_2" xlink:title="Label : AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment to label_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:label="IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:title="IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xml:lang="en-US" id="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment">Increase (decrease) through disposal property plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:title="Label : IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment to label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_1">Disposals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_1" xlink:title="Label : IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment to label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_2">Increase (decrease) through disposal property, plant and equipment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_2" xlink:title="Label : IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment to label_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:label="IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:title="IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment">Increase (decrease) through transfers, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:title="Label : IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment to label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment_1">Transfers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment_1" xlink:title="Label : IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment to label_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:title="IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment">Increase (decrease) through net exchange differences, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment to label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_1">Effect of exchange rate fluctuations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_1" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment to label_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WagonsAndLocomotivesMember" xlink:label="WagonsAndLocomotivesMember" xlink:title="WagonsAndLocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_WagonsAndLocomotivesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WagonsAndLocomotivesMember" xml:lang="en-US" id="label_WagonsAndLocomotivesMember">Wagons and locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagonsAndLocomotivesMember" xlink:to="label_WagonsAndLocomotivesMember" xlink:title="Label : WagonsAndLocomotivesMember to label_WagonsAndLocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_WagonsAndLocomotivesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WagonsAndLocomotivesMember_1" xml:lang="en-US" id="label_WagonsAndLocomotivesMember_1">Wagons and locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagonsAndLocomotivesMember" xlink:to="label_WagonsAndLocomotivesMember_1" xlink:title="Label : WagonsAndLocomotivesMember to label_WagonsAndLocomotivesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_WagonsAndLocomotivesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WagonsAndLocomotivesMember_2" xml:lang="en-US" id="label_WagonsAndLocomotivesMember_2">Wagons and locomotives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagonsAndLocomotivesMember" xlink:to="label_WagonsAndLocomotivesMember_2" xlink:title="Label : WagonsAndLocomotivesMember to label_WagonsAndLocomotivesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BankLoanGuarantee" xlink:label="BankLoanGuarantee" xlink:title="BankLoanGuarantee" />
    <link:label xlink:type="resource" xlink:label="label_BankLoanGuarantee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankLoanGuarantee" xml:lang="en-US" id="label_BankLoanGuarantee">Bank loan guarantee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankLoanGuarantee" xlink:to="label_BankLoanGuarantee" xlink:title="Label : BankLoanGuarantee to label_BankLoanGuarantee" />
    <link:label xlink:type="resource" xlink:label="label_BankLoanGuarantee_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BankLoanGuarantee_1" xml:lang="en-US" id="label_BankLoanGuarantee_1">Bank loan guarantee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankLoanGuarantee" xlink:to="label_BankLoanGuarantee_1" xlink:title="Label : BankLoanGuarantee to label_BankLoanGuarantee_1" />
    <link:label xlink:type="resource" xlink:label="label_BankLoanGuarantee_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankLoanGuarantee_2" xml:lang="en-US" id="label_BankLoanGuarantee_2">Bank loan guarantee.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankLoanGuarantee" xlink:to="label_BankLoanGuarantee_2" xlink:title="Label : BankLoanGuarantee to label_BankLoanGuarantee_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:label="IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:title="IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets">Increase Decrease Through Transfers From to Right Of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoRightOfUseAssets to label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_1" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_1">Transfers to right-of-use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_1" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoRightOfUseAssets to label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_2" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_2">Increase (decrease) through transfers from (to) right of use assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_2" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoRightOfUseAssets to label_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract" xlink:label="DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract" xlink:title="DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract" xml:lang="en-US" id="label_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract">Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:label="DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:title="DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" xlink:to="label_IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill_2" xlink:title="Label : IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill to label_IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:label="TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:title="TTASASTechniquesEtTechnologiesAppliqueesMember" />
    <link:label xlink:type="resource" xlink:label="label_TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TTASASTechniquesEtTechnologiesAppliqueesMember" xml:lang="en-US" id="label_TTASASTechniquesEtTechnologiesAppliqueesMember">TTA - SAS Techniques et Technologies Appliquees [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:to="label_TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:title="Label : TTASASTechniquesEtTechnologiesAppliqueesMember to label_TTASASTechniquesEtTechnologiesAppliqueesMember" />
    <link:label xlink:type="resource" xlink:label="label_TTASASTechniquesEtTechnologiesAppliqueesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TTASASTechniquesEtTechnologiesAppliqueesMember_1" xml:lang="en-US" id="label_TTASASTechniquesEtTechnologiesAppliqueesMember_1">TTA - SAS Techniques et Technologies Appliquees [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:to="label_TTASASTechniquesEtTechnologiesAppliqueesMember_1" xlink:title="Label : TTASASTechniquesEtTechnologiesAppliqueesMember to label_TTASASTechniquesEtTechnologiesAppliqueesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TTASASTechniquesEtTechnologiesAppliqueesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TTASASTechniquesEtTechnologiesAppliqueesMember_2" xml:lang="en-US" id="label_TTASASTechniquesEtTechnologiesAppliqueesMember_2">TTA - SAS Techniques et Technologies Appliquees.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TTASASTechniquesEtTechnologiesAppliqueesMember" xlink:to="label_TTASASTechniquesEtTechnologiesAppliqueesMember_2" xlink:title="Label : TTASASTechniquesEtTechnologiesAppliqueesMember to label_TTASASTechniquesEtTechnologiesAppliqueesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LubrigrupoiiSAMember" xlink:label="LubrigrupoiiSAMember" xlink:title="LubrigrupoiiSAMember" />
    <link:label xlink:type="resource" xlink:label="label_LubrigrupoiiSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LubrigrupoiiSAMember" xml:lang="en-US" id="label_LubrigrupoiiSAMember">LubrigrupoII, S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubrigrupoiiSAMember" xlink:to="label_LubrigrupoiiSAMember" xlink:title="Label : LubrigrupoiiSAMember to label_LubrigrupoiiSAMember" />
    <link:label xlink:type="resource" xlink:label="label_LubrigrupoiiSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LubrigrupoiiSAMember_1" xml:lang="en-US" id="label_LubrigrupoiiSAMember_1">LubrigrupoII, S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubrigrupoiiSAMember" xlink:to="label_LubrigrupoiiSAMember_1" xlink:title="Label : LubrigrupoiiSAMember to label_LubrigrupoiiSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LubrigrupoiiSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LubrigrupoiiSAMember_2" xml:lang="en-US" id="label_LubrigrupoiiSAMember_2">LubrigrupoII, S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubrigrupoiiSAMember" xlink:to="label_LubrigrupoiiSAMember_2" xlink:title="Label : LubrigrupoiiSAMember to label_LubrigrupoiiSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MetrolubeMember" xlink:label="MetrolubeMember" xlink:title="MetrolubeMember" />
    <link:label xlink:type="resource" xlink:label="label_MetrolubeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MetrolubeMember" xml:lang="en-US" id="label_MetrolubeMember">Metrolube [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MetrolubeMember" xlink:to="label_MetrolubeMember" xlink:title="Label : MetrolubeMember to label_MetrolubeMember" />
    <link:label xlink:type="resource" xlink:label="label_MetrolubeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MetrolubeMember_1" xml:lang="en-US" id="label_MetrolubeMember_1">Metrolube [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MetrolubeMember" xlink:to="label_MetrolubeMember_1" xlink:title="Label : MetrolubeMember to label_MetrolubeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MetrolubeMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MetrolubeMember_2" xml:lang="en-US" id="label_MetrolubeMember_2">Metrolube [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MetrolubeMember" xlink:to="label_MetrolubeMember_2" xlink:title="Label : MetrolubeMember to label_MetrolubeMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfIntangibleAssetsAbstract" xlink:label="DisclosureOfIntangibleAssetsAbstract" xlink:title="DisclosureOfIntangibleAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfIntangibleAssetsAbstract" xml:lang="en-US" id="label_DisclosureOfIntangibleAssetsAbstract">Disclosure of detailed information about intangible assets [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfIntangibleAssetsAbstract" xlink:to="label_DisclosureOfIntangibleAssetsAbstract" xlink:title="Label : DisclosureOfIntangibleAssetsAbstract to label_DisclosureOfIntangibleAssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:label="ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:title="ClassesOfIntangibleAssetsOtherThanGoodwillAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xml:lang="en-US" id="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis">Classes of intangible assets other than goodwill [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:title="Label : ClassesOfIntangibleAssetsOtherThanGoodwillAxis to label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_1" xml:lang="en-US" id="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_1">Classes of intangible assets other than goodwill [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_1" xlink:title="Label : ClassesOfIntangibleAssetsOtherThanGoodwillAxis to label_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:label="ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:title="ImprovementsToPublicConcessionsAndOperatingLicenseMember" />
    <link:label xlink:type="resource" xlink:label="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember" xml:lang="en-US" id="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember">Improvements To Public Concessions And Operating License [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:to="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:title="Label : ImprovementsToPublicConcessionsAndOperatingLicenseMember to label_ImprovementsToPublicConcessionsAndOperatingLicenseMember" />
    <link:label xlink:type="resource" xlink:label="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_1" xml:lang="en-US" id="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_1">Right of way and operating license [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:to="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_1" xlink:title="Label : ImprovementsToPublicConcessionsAndOperatingLicenseMember to label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_2" xml:lang="en-US" id="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_2">Improvements to public concessions and operating license.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImprovementsToPublicConcessionsAndOperatingLicenseMember" xlink:to="label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_2" xlink:title="Label : ImprovementsToPublicConcessionsAndOperatingLicenseMember to label_ImprovementsToPublicConcessionsAndOperatingLicenseMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComputerSoftwareMember" xlink:label="ComputerSoftwareMember" xlink:title="ComputerSoftwareMember" />
    <link:label xlink:type="resource" xlink:label="label_ComputerSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComputerSoftwareMember" xml:lang="en-US" id="label_ComputerSoftwareMember">Computer software [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerSoftwareMember" xlink:to="label_ComputerSoftwareMember" xlink:title="Label : ComputerSoftwareMember to label_ComputerSoftwareMember" />
    <link:label xlink:type="resource" xlink:label="label_ComputerSoftwareMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComputerSoftwareMember_1" xml:lang="en-US" id="label_ComputerSoftwareMember_1">Computer software [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComputerSoftwareMember" xlink:to="label_ComputerSoftwareMember_1" xlink:title="Label : ComputerSoftwareMember to label_ComputerSoftwareMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MobilMember" xlink:label="MobilMember" xlink:title="MobilMember" />
    <link:label xlink:type="resource" xlink:label="label_MobilMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MobilMember" xml:lang="en-US" id="label_MobilMember">Mobil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MobilMember" xlink:to="label_MobilMember" xlink:title="Label : MobilMember to label_MobilMember" />
    <link:label xlink:type="resource" xlink:label="label_MobilMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MobilMember_1" xml:lang="en-US" id="label_MobilMember_1">Mobil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MobilMember" xlink:to="label_MobilMember_1" xlink:title="Label : MobilMember to label_MobilMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MobilMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MobilMember_2" xml:lang="en-US" id="label_MobilMember_2">Mobil.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MobilMember" xlink:to="label_MobilMember_2" xlink:title="Label : MobilMember to label_MobilMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommaMember" xlink:label="CommaMember" xlink:title="CommaMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommaMember" xml:lang="en-US" id="label_CommaMember">Comma [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaMember" xlink:to="label_CommaMember" xlink:title="Label : CommaMember to label_CommaMember" />
    <link:label xlink:type="resource" xlink:label="label_CommaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommaMember_1" xml:lang="en-US" id="label_CommaMember_1">Comma [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaMember" xlink:to="label_CommaMember_1" xlink:title="Label : CommaMember to label_CommaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CommaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommaMember_2" xml:lang="en-US" id="label_CommaMember_2">Comma.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommaMember" xlink:to="label_CommaMember_2" xlink:title="Label : CommaMember to label_CommaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ALLMalhaNorteMember" xlink:label="ALLMalhaNorteMember" xlink:title="ALLMalhaNorteMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLMalhaNorteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ALLMalhaNorteMember" xml:lang="en-US" id="label_ALLMalhaNorteMember">A L L Malha Norte [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLMalhaNorteMember" xlink:to="label_ALLMalhaNorteMember" xlink:title="Label : ALLMalhaNorteMember to label_ALLMalhaNorteMember" />
    <link:label xlink:type="resource" xlink:label="label_ALLMalhaNorteMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ALLMalhaNorteMember_1" xml:lang="en-US" id="label_ALLMalhaNorteMember_1">A L L Malha Norte [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLMalhaNorteMember" xlink:to="label_ALLMalhaNorteMember_1" xlink:title="Label : ALLMalhaNorteMember to label_ALLMalhaNorteMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ALLMalhaNorteMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ALLMalhaNorteMember_2" xml:lang="en-US" id="label_ALLMalhaNorteMember_2">A l l malha norte.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ALLMalhaNorteMember" xlink:to="label_ALLMalhaNorteMember_2" xlink:title="Label : ALLMalhaNorteMember to label_ALLMalhaNorteMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfAmortizationRate" xlink:label="PercentageOfAmortizationRate" xlink:title="PercentageOfAmortizationRate" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAmortizationRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfAmortizationRate" xml:lang="en-US" id="label_PercentageOfAmortizationRate">Percentage of Amortization Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAmortizationRate" xlink:to="label_PercentageOfAmortizationRate" xlink:title="Label : PercentageOfAmortizationRate to label_PercentageOfAmortizationRate" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAmortizationRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfAmortizationRate_1" xml:lang="en-US" id="label_PercentageOfAmortizationRate_1">Annual rate of amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAmortizationRate" xlink:to="label_PercentageOfAmortizationRate_1" xlink:title="Label : PercentageOfAmortizationRate to label_PercentageOfAmortizationRate_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAmortizationRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfAmortizationRate_2" xml:lang="en-US" id="label_PercentageOfAmortizationRate_2">Percentage of amortization rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAmortizationRate" xlink:to="label_PercentageOfAmortizationRate_2" xlink:title="Label : PercentageOfAmortizationRate to label_PercentageOfAmortizationRate_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="IntangibleAssetsOtherThanGoodwill" xlink:title="IntangibleAssetsOtherThanGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleAssetsOtherThanGoodwill" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwill">Intangible assets other than goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsOtherThanGoodwill" xlink:to="label_IntangibleAssetsOtherThanGoodwill" xlink:title="Label : IntangibleAssetsOtherThanGoodwill to label_IntangibleAssetsOtherThanGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleAssetsOtherThanGoodwill_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IntangibleAssetsOtherThanGoodwill_1" xml:lang="en-US" id="label_IntangibleAssetsOtherThanGoodwill_1">Intangible assets other than goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleAssetsOtherThanGoodwill" xlink:to="label_IntangibleAssetsOtherThanGoodwill_1" xlink:title="Label : IntangibleAssetsOtherThanGoodwill to label_IntangibleAssetsOtherThanGoodwill_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xlink:label="DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xlink:title="DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xml:lang="en-US" id="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract">Disclosure of quantitative information about right-of-use assets [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xlink:to="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xlink:title="Label : DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract to label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract_1" xml:lang="en-US" id="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract_1">Disclosure of quantitative information about right-of-use assets [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract" xlink:to="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract_1" xlink:title="Label : DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract to label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:label="DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:title="DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xml:lang="en-US" id="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable">Disclosure of quantitative information about right-of-use assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:to="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:title="Label : DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable to label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_1" xml:lang="en-US" id="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_1">Disclosure of quantitative information about right-of-use assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable" xlink:to="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_1" xlink:title="Label : DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable to label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FreightCarsAndLocomotivesMember" xlink:label="FreightCarsAndLocomotivesMember" xlink:title="FreightCarsAndLocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_FreightCarsAndLocomotivesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FreightCarsAndLocomotivesMember" xml:lang="en-US" id="label_FreightCarsAndLocomotivesMember">Freight Cars and Locomotives [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreightCarsAndLocomotivesMember" xlink:to="label_FreightCarsAndLocomotivesMember" xlink:title="Label : FreightCarsAndLocomotivesMember to label_FreightCarsAndLocomotivesMember" />
    <link:label xlink:type="resource" xlink:label="label_FreightCarsAndLocomotivesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FreightCarsAndLocomotivesMember_1" xml:lang="en-US" id="label_FreightCarsAndLocomotivesMember_1">This member stands for the information pertaining to freight cars and Locomotives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreightCarsAndLocomotivesMember" xlink:to="label_FreightCarsAndLocomotivesMember_1" xlink:title="Label : FreightCarsAndLocomotivesMember to label_FreightCarsAndLocomotivesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FreightCarsAndLocomotivesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FreightCarsAndLocomotivesMember_2" xml:lang="en-US" id="label_FreightCarsAndLocomotivesMember_2">Freight cars and Locomotives [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreightCarsAndLocomotivesMember" xlink:to="label_FreightCarsAndLocomotivesMember_2" xlink:title="Label : FreightCarsAndLocomotivesMember to label_FreightCarsAndLocomotivesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SoftwareMember" xlink:label="SoftwareMember" xlink:title="SoftwareMember" />
    <link:label xlink:type="resource" xlink:label="label_SoftwareMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SoftwareMember" xml:lang="en-US" id="label_SoftwareMember">This member stands for the information pertaining to software.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SoftwareMember" xlink:to="label_SoftwareMember" xlink:title="Label : SoftwareMember to label_SoftwareMember" />
    <link:label xlink:type="resource" xlink:label="label_SoftwareMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SoftwareMember_1" xml:lang="en-US" id="label_SoftwareMember_1">Software [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SoftwareMember" xlink:to="label_SoftwareMember_1" xlink:title="Label : SoftwareMember to label_SoftwareMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PortAndRailInfrastructureMember" xlink:label="PortAndRailInfrastructureMember" xlink:title="PortAndRailInfrastructureMember" />
    <link:label xlink:type="resource" xlink:label="label_PortAndRailInfrastructureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PortAndRailInfrastructureMember" xml:lang="en-US" id="label_PortAndRailInfrastructureMember">This member stands for the information pertaining to port and rail infrastructure.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortAndRailInfrastructureMember" xlink:to="label_PortAndRailInfrastructureMember" xlink:title="Label : PortAndRailInfrastructureMember to label_PortAndRailInfrastructureMember" />
    <link:label xlink:type="resource" xlink:label="label_PortAndRailInfrastructureMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PortAndRailInfrastructureMember_1" xml:lang="en-US" id="label_PortAndRailInfrastructureMember_1">Port and rail infrastructure [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortAndRailInfrastructureMember" xlink:to="label_PortAndRailInfrastructureMember_1" xlink:title="Label : PortAndRailInfrastructureMember to label_PortAndRailInfrastructureMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:label="DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:title="DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems">Disclosure of quantitative information about right-of-use assets [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:to="label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:title="Label : DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems to label_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:label="IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:title="IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xml:lang="en-US" id="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets">Contractual adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:title="Label : IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets to label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_1" xml:lang="en-US" id="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_1">Increase Decrease Through Contractual Adjustments Right Of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_1" xlink:title="Label : IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets to label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_2" xml:lang="en-US" id="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_2">The increase (decrease) in right-of-use assets resulting from contractual adjustments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_2" xlink:title="Label : IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets to label_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:label="IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:title="IncreasedecreaseThroughTransfersRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreasedecreaseThroughTransfersRightOfUseAssets" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersRightOfUseAssets">The increase (decrease) in right-of-use assets resulting from transfers.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:title="Label : IncreasedecreaseThroughTransfersRightOfUseAssets to label_IncreasedecreaseThroughTransfersRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreasedecreaseThroughTransfersRightOfUseAssets_1" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersRightOfUseAssets_1">Transfers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughTransfersRightOfUseAssets_1" xlink:title="Label : IncreasedecreaseThroughTransfersRightOfUseAssets to label_IncreasedecreaseThroughTransfersRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreasedecreaseThroughTransfersRightOfUseAssets_2" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersRightOfUseAssets_2">Increase Decrease Through Transfers Right Of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughTransfersRightOfUseAssets_2" xlink:title="Label : IncreasedecreaseThroughTransfersRightOfUseAssets to label_IncreasedecreaseThroughTransfersRightOfUseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:label="IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:title="IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xml:lang="en-US" id="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets">Currency translation adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:title="Label : IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets to label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_1" xml:lang="en-US" id="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_1">Increase Decrease Through Currency Translation Adjustments Right Of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_1" xlink:title="Label : IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets to label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_2" xml:lang="en-US" id="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_2">The increase (decrease) in right-of-use assets resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" xlink:to="label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_2" xlink:title="Label : IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets to label_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:label="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:title="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets">Increase Decrease Through Transfers From to Property Plant And Equipment And Other Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets to label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_1" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_1">Transfers from property, plant and equipment and other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_1" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets to label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_2" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_2">Increase Decrease Through Transfers From to Property Plant And Equipment And Other Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_2" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets to label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_3" xml:lang="en-US" id="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_3">Increase (decrease) through transfers from (to) property plant and equipment and other assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" xlink:to="label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_3" xlink:title="Label : IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets to label_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherAssetsMember" xlink:label="OtherAssetsMember" xlink:title="OtherAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAssetsMember" xml:lang="en-US" id="label_OtherAssetsMember">Other assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsMember" xlink:to="label_OtherAssetsMember" xlink:title="Label : OtherAssetsMember to label_OtherAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAssetsMember_1" xml:lang="en-US" id="label_OtherAssetsMember_1">Other assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsMember" xlink:to="label_OtherAssetsMember_1" xlink:title="Label : OtherAssetsMember to label_OtherAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContractAssets" xlink:label="ContractAssets" xlink:title="ContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_ContractAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractAssets" xml:lang="en-US" id="label_ContractAssets">Contract assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssets" xlink:to="label_ContractAssets" xlink:title="Label : ContractAssets to label_ContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_ContractAssets_1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_ContractAssets_1" xml:lang="en-US" id="label_ContractAssets_1">Beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssets" xlink:to="label_ContractAssets_1" xlink:title="Label : ContractAssets to label_ContractAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_ContractAssets_2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_ContractAssets_2" xml:lang="en-US" id="label_ContractAssets_2">End of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssets" xlink:to="label_ContractAssets_2" xlink:title="Label : ContractAssets to label_ContractAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseThroughBusinessCombinationsContractAssets" xlink:label="IncreaseThroughBusinessCombinationsContractAssets" xlink:title="IncreaseThroughBusinessCombinationsContractAssets" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseThroughBusinessCombinationsContractAssets" xlink:to="label_IncreaseThroughBusinessCombinationsContractAssets" xlink:title="Label : IncreaseThroughBusinessCombinationsContractAssets to label_IncreaseThroughBusinessCombinationsContractAssets" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseThroughImpairmentContractAssets" xlink:to="label_DecreaseThroughImpairmentContractAssets" xlink:title="Label : DecreaseThroughImpairmentContractAssets to label_DecreaseThroughImpairmentContractAssets" />
    <link:label xlink:type="resource" xlink:label="label_DecreaseThroughImpairmentContractAssets_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DecreaseThroughImpairmentContractAssets_1" xml:lang="en-US" id="label_DecreaseThroughImpairmentContractAssets_1">Disposals</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets_1" xml:lang="en-US" id="label_DecreaseThroughRightToConsiderationBecomingUnconditionalContractAssets_1">Transfer to concession rights and customer relationships</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PortElevationMember" xlink:to="label_PortElevationMember_2" xlink:title="Label : PortElevationMember to label_PortElevationMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutCommitmentsLineItems" xlink:to="label_DisclosureOfDetailedInformationAboutCommitmentsLineItems" xlink:title="Label : DisclosureOfDetailedInformationAboutCommitmentsLineItems to label_DisclosureOfDetailedInformationAboutCommitmentsLineItems" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutCommitmentsLineItems" xlink:to="label_DisclosureOfDetailedInformationAboutCommitmentsLineItems_1" xlink:title="Label : DisclosureOfDetailedInformationAboutCommitmentsLineItems to label_DisclosureOfDetailedInformationAboutCommitmentsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialCommitmentInEstimatedPresentValue" xlink:label="FinancialCommitmentInEstimatedPresentValue" xlink:title="FinancialCommitmentInEstimatedPresentValue" />
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    <link:label xlink:type="resource" xlink:label="label_FinancialCommitmentInEstimatedPresentValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialCommitmentInEstimatedPresentValue_2" xml:lang="en-US" id="label_FinancialCommitmentInEstimatedPresentValue_2">Financial commitment in an estimated present value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentInEstimatedPresentValue" xlink:to="label_FinancialCommitmentInEstimatedPresentValue_2" xlink:title="Label : FinancialCommitmentInEstimatedPresentValue to label_FinancialCommitmentInEstimatedPresentValue_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ObligationsOfEstimatedInvestmentsForSubConcessionContracts" xlink:to="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts" xlink:title="Label : ObligationsOfEstimatedInvestmentsForSubConcessionContracts to label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts" />
    <link:label xlink:type="resource" xlink:label="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_1" xml:lang="en-US" id="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_1">The amount of obligations value of an estimated investments for sub-concession contracts under financial commitment.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_2" xml:lang="en-US" id="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_2">Obligations of estimated investments for sub-concession contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ObligationsOfEstimatedInvestmentsForSubConcessionContracts" xlink:to="label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_2" xlink:title="Label : ObligationsOfEstimatedInvestmentsForSubConcessionContracts to label_ObligationsOfEstimatedInvestmentsForSubConcessionContracts_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfPhysicalExecution" xlink:label="PercentageOfPhysicalExecution" xlink:title="PercentageOfPhysicalExecution" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPhysicalExecution" xlink:to="label_PercentageOfPhysicalExecution" xlink:title="Label : PercentageOfPhysicalExecution to label_PercentageOfPhysicalExecution" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfPhysicalExecution_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfPhysicalExecution_1" xml:lang="en-US" id="label_PercentageOfPhysicalExecution_1">The percentage of physical execution for sub-concession contracts under financial commitment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPhysicalExecution" xlink:to="label_PercentageOfPhysicalExecution_1" xlink:title="Label : PercentageOfPhysicalExecution to label_PercentageOfPhysicalExecution_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPhysicalExecution" xlink:to="label_PercentageOfPhysicalExecution_2" xlink:title="Label : PercentageOfPhysicalExecution to label_PercentageOfPhysicalExecution_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContractualFixedTerm" xlink:label="ContractualFixedTerm" xlink:title="ContractualFixedTerm" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualFixedTerm" xlink:to="label_ContractualFixedTerm_1" xlink:title="Label : ContractualFixedTerm to label_ContractualFixedTerm_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractualFixedTerm" xlink:to="label_ContractualFixedTerm_2" xlink:title="Label : ContractualFixedTerm to label_ContractualFixedTerm_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentsAtCost" xlink:label="InvestmentsAtCost" xlink:title="InvestmentsAtCost" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentsAtCost" xml:lang="en-US" id="label_InvestmentsAtCost">Investments at Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAtCost" xlink:to="label_InvestmentsAtCost" xlink:title="Label : InvestmentsAtCost to label_InvestmentsAtCost" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentsAtCost_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentsAtCost_1" xml:lang="en-US" id="label_InvestmentsAtCost_1">Investments at cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAtCost" xlink:to="label_InvestmentsAtCost_1" xlink:title="Label : InvestmentsAtCost to label_InvestmentsAtCost_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAtCost" xlink:to="label_InvestmentsAtCost_2" xlink:title="Label : InvestmentsAtCost to label_InvestmentsAtCost_2" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ClassesOfLiabilitiesAxis" xlink:title="ClassesOfLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfLiabilitiesAxis" xml:lang="en-US" id="label_ClassesOfLiabilitiesAxis">Classes of liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfLiabilitiesAxis" xlink:to="label_ClassesOfLiabilitiesAxis" xlink:title="Label : ClassesOfLiabilitiesAxis to label_ClassesOfLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfLiabilitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfLiabilitiesAxis_1" xml:lang="en-US" id="label_ClassesOfLiabilitiesAxis_1">Classes of liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfLiabilitiesAxis" xlink:to="label_ClassesOfLiabilitiesAxis_1" xlink:title="Label : ClassesOfLiabilitiesAxis to label_ClassesOfLiabilitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiabilitiesMember" xlink:label="LiabilitiesMember" xlink:title="LiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesMember" xml:lang="en-US" id="label_LiabilitiesMember">Liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesMember" xlink:to="label_LiabilitiesMember" xlink:title="Label : LiabilitiesMember to label_LiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesMember_1" xml:lang="en-US" id="label_LiabilitiesMember_1">Liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesMember" xlink:to="label_LiabilitiesMember_1" xlink:title="Label : LiabilitiesMember to label_LiabilitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CourtDiscussionMember" xlink:label="CourtDiscussionMember" xlink:title="CourtDiscussionMember" />
    <link:label xlink:type="resource" xlink:label="label_CourtDiscussionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CourtDiscussionMember" xml:lang="en-US" id="label_CourtDiscussionMember">This member stands for the information pertaining to court discussion related to concessions payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CourtDiscussionMember" xlink:to="label_CourtDiscussionMember" xlink:title="Label : CourtDiscussionMember to label_CourtDiscussionMember" />
    <link:label xlink:type="resource" xlink:label="label_CourtDiscussionMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CourtDiscussionMember_1" xml:lang="en-US" id="label_CourtDiscussionMember_1">Court Discussion [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CourtDiscussionMember" xlink:to="label_CourtDiscussionMember_1" xlink:title="Label : CourtDiscussionMember to label_CourtDiscussionMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CourtDiscussionMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CourtDiscussionMember_2" xml:lang="en-US" id="label_CourtDiscussionMember_2">Court Discussion [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CourtDiscussionMember" xlink:to="label_CourtDiscussionMember_2" xlink:title="Label : CourtDiscussionMember to label_CourtDiscussionMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailroadConcessionPayableUnderLitigationMember" xlink:label="RailroadConcessionPayableUnderLitigationMember" xlink:title="RailroadConcessionPayableUnderLitigationMember" />
    <link:label xlink:type="resource" xlink:label="label_RailroadConcessionPayableUnderLitigationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RailroadConcessionPayableUnderLitigationMember" xml:lang="en-US" id="label_RailroadConcessionPayableUnderLitigationMember">Railroad Concession Payable Under Litigation [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadConcessionPayableUnderLitigationMember" xlink:to="label_RailroadConcessionPayableUnderLitigationMember" xlink:title="Label : RailroadConcessionPayableUnderLitigationMember to label_RailroadConcessionPayableUnderLitigationMember" />
    <link:label xlink:type="resource" xlink:label="label_RailroadConcessionPayableUnderLitigationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RailroadConcessionPayableUnderLitigationMember_1" xml:lang="en-US" id="label_RailroadConcessionPayableUnderLitigationMember_1">Railroad concession payable under litigation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadConcessionPayableUnderLitigationMember" xlink:to="label_RailroadConcessionPayableUnderLitigationMember_1" xlink:title="Label : RailroadConcessionPayableUnderLitigationMember to label_RailroadConcessionPayableUnderLitigationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RailroadConcessionPayableUnderLitigationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RailroadConcessionPayableUnderLitigationMember_2" xml:lang="en-US" id="label_RailroadConcessionPayableUnderLitigationMember_2">This member stands for the information pertaining to railroad concession payable under litigation related to concessions payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadConcessionPayableUnderLitigationMember" xlink:to="label_RailroadConcessionPayableUnderLitigationMember_2" xlink:title="Label : RailroadConcessionPayableUnderLitigationMember to label_RailroadConcessionPayableUnderLitigationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherConcessionsPayableMember" xlink:label="OtherConcessionsPayableMember" xlink:title="OtherConcessionsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherConcessionsPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherConcessionsPayableMember" xml:lang="en-US" id="label_OtherConcessionsPayableMember">Other Concessions Payable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherConcessionsPayableMember" xlink:to="label_OtherConcessionsPayableMember" xlink:title="Label : OtherConcessionsPayableMember to label_OtherConcessionsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherConcessionsPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherConcessionsPayableMember_1" xml:lang="en-US" id="label_OtherConcessionsPayableMember_1">Payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherConcessionsPayableMember" xlink:to="label_OtherConcessionsPayableMember_1" xlink:title="Label : OtherConcessionsPayableMember to label_OtherConcessionsPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherConcessionsPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherConcessionsPayableMember_2" xml:lang="en-US" id="label_OtherConcessionsPayableMember_2">This member stands for the information pertaining to other concession payable related to concessions payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherConcessionsPayableMember" xlink:to="label_OtherConcessionsPayableMember_2" xlink:title="Label : OtherConcessionsPayableMember to label_OtherConcessionsPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConcessionsPayableMember" xlink:label="ConcessionsPayableMember" xlink:title="ConcessionsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcessionsPayableMember" xml:lang="en-US" id="label_ConcessionsPayableMember">Concessions Payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayableMember" xlink:to="label_ConcessionsPayableMember" xlink:title="Label : ConcessionsPayableMember to label_ConcessionsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcessionsPayableMember_1" xml:lang="en-US" id="label_ConcessionsPayableMember_1">Concessions Payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayableMember" xlink:to="label_ConcessionsPayableMember_1" xlink:title="Label : ConcessionsPayableMember to label_ConcessionsPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConcessionsPayableMember_2" xml:lang="en-US" id="label_ConcessionsPayableMember_2">Concessions payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayableMember" xlink:to="label_ConcessionsPayableMember_2" xlink:title="Label : ConcessionsPayableMember to label_ConcessionsPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasesAndConcessionsPayableMember" xlink:label="LeasesAndConcessionsPayableMember" xlink:title="LeasesAndConcessionsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndConcessionsPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesAndConcessionsPayableMember" xml:lang="en-US" id="label_LeasesAndConcessionsPayableMember">Leases and concessions payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndConcessionsPayableMember" xlink:to="label_LeasesAndConcessionsPayableMember" xlink:title="Label : LeasesAndConcessionsPayableMember to label_LeasesAndConcessionsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndConcessionsPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesAndConcessionsPayableMember_1" xml:lang="en-US" id="label_LeasesAndConcessionsPayableMember_1">Leases and Concessions Payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndConcessionsPayableMember" xlink:to="label_LeasesAndConcessionsPayableMember_1" xlink:title="Label : LeasesAndConcessionsPayableMember to label_LeasesAndConcessionsPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndConcessionsPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasesAndConcessionsPayableMember_2" xml:lang="en-US" id="label_LeasesAndConcessionsPayableMember_2">Leases and concessions payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndConcessionsPayableMember" xlink:to="label_LeasesAndConcessionsPayableMember_2" xlink:title="Label : LeasesAndConcessionsPayableMember to label_LeasesAndConcessionsPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:label="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:title="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xml:lang="en-US" id="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems">Leases and grants under IFRS 16</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:to="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:title="Label : DisclosureOfConcessionsPayableAndJudicialDepositsLineItems to label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_1" xml:lang="en-US" id="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_1">Disclosure Of Concessions Payable And Judicial Deposits [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:to="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_1" xlink:title="Label : DisclosureOfConcessionsPayableAndJudicialDepositsLineItems to label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_2" xml:lang="en-US" id="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_2">Disclosure of Concessions Payable And Judicial Deposits [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:to="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_2" xlink:title="Label : DisclosureOfConcessionsPayableAndJudicialDepositsLineItems to label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_2" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_3" xml:lang="en-US" id="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_3">Disclosure of concessions payable and judicial deposits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" xlink:to="label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_3" xlink:title="Label : DisclosureOfConcessionsPayableAndJudicialDepositsLineItems to label_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConcessionsPayables" xlink:label="ConcessionsPayables" xlink:title="ConcessionsPayables" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcessionsPayables" xml:lang="en-US" id="label_ConcessionsPayables">Concessions payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayables" xlink:to="label_ConcessionsPayables" xlink:title="Label : ConcessionsPayables to label_ConcessionsPayables" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcessionsPayables_1" xml:lang="en-US" id="label_ConcessionsPayables_1">Concessions payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayables" xlink:to="label_ConcessionsPayables_1" xlink:title="Label : ConcessionsPayables to label_ConcessionsPayables_1" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionsPayables_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConcessionsPayables_2" xml:lang="en-US" id="label_ConcessionsPayables_2">Concessions payables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionsPayables" xlink:to="label_ConcessionsPayables_2" xlink:title="Label : ConcessionsPayables to label_ConcessionsPayables_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasePayable" xlink:label="LeasePayable" xlink:title="LeasePayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasePayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasePayable" xml:lang="en-US" id="label_LeasePayable">Lease Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasePayable" xlink:to="label_LeasePayable" xlink:title="Label : LeasePayable to label_LeasePayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasePayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasePayable_1" xml:lang="en-US" id="label_LeasePayable_1">Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasePayable" xlink:to="label_LeasePayable_1" xlink:title="Label : LeasePayable to label_LeasePayable_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasePayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasePayable_2" xml:lang="en-US" id="label_LeasePayable_2">Lease payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasePayable" xlink:to="label_LeasePayable_2" xlink:title="Label : LeasePayable to label_LeasePayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasesAndConcessionsPayable" xlink:label="LeasesAndConcessionsPayable" xlink:title="LeasesAndConcessionsPayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndConcessionsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesAndConcessionsPayable" xml:lang="en-US" id="label_LeasesAndConcessionsPayable">Leases and Concessions Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndConcessionsPayable" xlink:to="label_LeasesAndConcessionsPayable" xlink:title="Label : LeasesAndConcessionsPayable to label_LeasesAndConcessionsPayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndConcessionsPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesAndConcessionsPayable_1" xml:lang="en-US" id="label_LeasesAndConcessionsPayable_1">Leases and concessions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndConcessionsPayable" xlink:to="label_LeasesAndConcessionsPayable_1" xlink:title="Label : LeasesAndConcessionsPayable to label_LeasesAndConcessionsPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndConcessionsPayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasesAndConcessionsPayable_2" xml:lang="en-US" id="label_LeasesAndConcessionsPayable_2">Leases and concessions payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndConcessionsPayable" xlink:to="label_LeasesAndConcessionsPayable_2" xlink:title="Label : LeasesAndConcessionsPayable to label_LeasesAndConcessionsPayable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsOnLitigationSettlements" xlink:label="GainsOnLitigationSettlements" xlink:title="GainsOnLitigationSettlements" />
    <link:label xlink:type="resource" xlink:label="label_GainsOnLitigationSettlements" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_GainsOnLitigationSettlements" xml:lang="en-US" id="label_GainsOnLitigationSettlements">Gain on reversal of lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsOnLitigationSettlements" xlink:to="label_GainsOnLitigationSettlements" xlink:title="Label : GainsOnLitigationSettlements to label_GainsOnLitigationSettlements" />
    <link:label xlink:type="resource" xlink:label="label_GainsOnLitigationSettlements_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsOnLitigationSettlements_1" xml:lang="en-US" id="label_GainsOnLitigationSettlements_1">Gains on litigation settlements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsOnLitigationSettlements" xlink:to="label_GainsOnLitigationSettlements_1" xlink:title="Label : GainsOnLitigationSettlements to label_GainsOnLitigationSettlements_1" />
    <link:label xlink:type="resource" xlink:label="label_GainsOnLitigationSettlements_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsOnLitigationSettlements_2" xml:lang="en-US" id="label_GainsOnLitigationSettlements_2">Indemnity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsOnLitigationSettlements" xlink:to="label_GainsOnLitigationSettlements_2" xlink:title="Label : GainsOnLitigationSettlements to label_GainsOnLitigationSettlements_2" />
    <link:label xlink:type="resource" xlink:label="label_GainsOnLitigationSettlements_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GainsOnLitigationSettlements_3" xml:lang="en-US" id="label_GainsOnLitigationSettlements_3">Recognized indemnification amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsOnLitigationSettlements" xlink:to="label_GainsOnLitigationSettlements_3" xlink:title="Label : GainsOnLitigationSettlements to label_GainsOnLitigationSettlements_3" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult" xlink:to="label_GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult_2" xlink:title="Label : GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult to label_GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019" xlink:label="DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019" xlink:title="DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019" xlink:to="label_DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019_2" xlink:title="Label : DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019 to label_DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialCommitmentEstimatedPresentValue" xlink:label="FinancialCommitmentEstimatedPresentValue" xlink:title="FinancialCommitmentEstimatedPresentValue" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentEstimatedPresentValue" xlink:to="label_FinancialCommitmentEstimatedPresentValue" xlink:title="Label : FinancialCommitmentEstimatedPresentValue to label_FinancialCommitmentEstimatedPresentValue" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentEstimatedPresentValue" xlink:to="label_FinancialCommitmentEstimatedPresentValue_1" xlink:title="Label : FinancialCommitmentEstimatedPresentValue to label_FinancialCommitmentEstimatedPresentValue_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialCommitmentEstimatedPresentValue" xlink:to="label_FinancialCommitmentEstimatedPresentValue_2" xlink:title="Label : FinancialCommitmentEstimatedPresentValue to label_FinancialCommitmentEstimatedPresentValue_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfJudicialDepositsAbstract" xlink:label="DisclosureOfJudicialDepositsAbstract" xlink:title="DisclosureOfJudicialDepositsAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJudicialDepositsAbstract" xlink:to="label_DisclosureOfJudicialDepositsAbstract_1" xlink:title="Label : DisclosureOfJudicialDepositsAbstract to label_DisclosureOfJudicialDepositsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfJudicialDepositsTable" xlink:label="DisclosureOfJudicialDepositsTable" xlink:title="DisclosureOfJudicialDepositsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJudicialDepositsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfJudicialDepositsTable" xml:lang="en-US" id="label_DisclosureOfJudicialDepositsTable">Disclosure Of Judicial Deposits [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJudicialDepositsTable" xlink:to="label_DisclosureOfJudicialDepositsTable" xlink:title="Label : DisclosureOfJudicialDepositsTable to label_DisclosureOfJudicialDepositsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJudicialDepositsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfJudicialDepositsTable_1" xml:lang="en-US" id="label_DisclosureOfJudicialDepositsTable_1">Disclosure Of Judicial Deposits [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJudicialDepositsTable" xlink:to="label_DisclosureOfJudicialDepositsTable_1" xlink:title="Label : DisclosureOfJudicialDepositsTable to label_DisclosureOfJudicialDepositsTable_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJudicialDepositsTable" xlink:to="label_DisclosureOfJudicialDepositsTable_2" xlink:title="Label : DisclosureOfJudicialDepositsTable to label_DisclosureOfJudicialDepositsTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaPaulistaMember" xlink:label="RumoMalhaPaulistaMember" xlink:title="RumoMalhaPaulistaMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaPaulistaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaPaulistaMember" xml:lang="en-US" id="label_RumoMalhaPaulistaMember">Rumo Malha Paulista [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaPaulistaMember" xlink:to="label_RumoMalhaPaulistaMember" xlink:title="Label : RumoMalhaPaulistaMember to label_RumoMalhaPaulistaMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaPaulistaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaPaulistaMember_1" xml:lang="en-US" id="label_RumoMalhaPaulistaMember_1">Rumo Malha Paulista [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaPaulistaMember" xlink:to="label_RumoMalhaPaulistaMember_1" xlink:title="Label : RumoMalhaPaulistaMember to label_RumoMalhaPaulistaMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaPaulistaMember" xlink:to="label_RumoMalhaPaulistaMember_2" xlink:title="Label : RumoMalhaPaulistaMember to label_RumoMalhaPaulistaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoMalhaOesteMember" xlink:label="RumoMalhaOesteMember" xlink:title="RumoMalhaOesteMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaOesteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoMalhaOesteMember" xml:lang="en-US" id="label_RumoMalhaOesteMember">Rumo Malha Oeste [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaOesteMember" xlink:to="label_RumoMalhaOesteMember" xlink:title="Label : RumoMalhaOesteMember to label_RumoMalhaOesteMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoMalhaOesteMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoMalhaOesteMember_1" xml:lang="en-US" id="label_RumoMalhaOesteMember_1">Rumo Malha Oeste [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaOesteMember" xlink:to="label_RumoMalhaOesteMember_1" xlink:title="Label : RumoMalhaOesteMember to label_RumoMalhaOesteMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoMalhaOesteMember" xlink:to="label_RumoMalhaOesteMember_2" xlink:title="Label : RumoMalhaOesteMember to label_RumoMalhaOesteMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfJudicialDepositsLineItems" xlink:label="DisclosureOfJudicialDepositsLineItems" xlink:title="DisclosureOfJudicialDepositsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJudicialDepositsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfJudicialDepositsLineItems" xml:lang="en-US" id="label_DisclosureOfJudicialDepositsLineItems">Disclosure of judicial deposits [line items]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJudicialDepositsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfJudicialDepositsLineItems_1" xml:lang="en-US" id="label_DisclosureOfJudicialDepositsLineItems_1">Disclosure of judicial deposits [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJudicialDepositsLineItems" xlink:to="label_DisclosureOfJudicialDepositsLineItems_1" xlink:title="Label : DisclosureOfJudicialDepositsLineItems to label_DisclosureOfJudicialDepositsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfJudicialDepositsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfJudicialDepositsLineItems_2" xml:lang="en-US" id="label_DisclosureOfJudicialDepositsLineItems_2">Disclosure of judicial deposits [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfJudicialDepositsLineItems" xlink:to="label_DisclosureOfJudicialDepositsLineItems_2" xlink:title="Label : DisclosureOfJudicialDepositsLineItems to label_DisclosureOfJudicialDepositsLineItems_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JudicialDeposits" xlink:to="label_JudicialDeposits" xlink:title="Label : JudicialDeposits to label_JudicialDeposits" />
    <link:label xlink:type="resource" xlink:label="label_JudicialDeposits_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_JudicialDeposits_1" xml:lang="en-US" id="label_JudicialDeposits_1">Judicial deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JudicialDeposits" xlink:to="label_JudicialDeposits_1" xlink:title="Label : JudicialDeposits to label_JudicialDeposits_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JudicialDeposits" xlink:to="label_JudicialDeposits_2" xlink:title="Label : JudicialDeposits to label_JudicialDeposits_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LeaseLiabilitiesMember" xlink:label="LeaseLiabilitiesMember" xlink:title="LeaseLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseLiabilitiesMember" xml:lang="en-US" id="label_LeaseLiabilitiesMember">Lease liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesMember" xlink:to="label_LeaseLiabilitiesMember" xlink:title="Label : LeaseLiabilitiesMember to label_LeaseLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseLiabilitiesMember_1" xml:lang="en-US" id="label_LeaseLiabilitiesMember_1">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesMember" xlink:to="label_LeaseLiabilitiesMember_1" xlink:title="Label : LeaseLiabilitiesMember to label_LeaseLiabilitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GrantsPayableMember" xlink:label="GrantsPayableMember" xlink:title="GrantsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_GrantsPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrantsPayableMember" xml:lang="en-US" id="label_GrantsPayableMember">Grants Payable [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantsPayableMember" xlink:to="label_GrantsPayableMember" xlink:title="Label : GrantsPayableMember to label_GrantsPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_GrantsPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GrantsPayableMember_1" xml:lang="en-US" id="label_GrantsPayableMember_1">This member stands for the information pertaining to grants payable related to concessions payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantsPayableMember" xlink:to="label_GrantsPayableMember_1" xlink:title="Label : GrantsPayableMember to label_GrantsPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GrantsPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrantsPayableMember_2" xml:lang="en-US" id="label_GrantsPayableMember_2">Grants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantsPayableMember" xlink:to="label_GrantsPayableMember_2" xlink:title="Label : GrantsPayableMember to label_GrantsPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasesRelatedToConcessionPayable" xlink:label="LeasesRelatedToConcessionPayable" xlink:title="LeasesRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasesRelatedToConcessionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesRelatedToConcessionPayable" xml:lang="en-US" id="label_LeasesRelatedToConcessionPayable">Leases Related To Concession Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesRelatedToConcessionPayable" xlink:to="label_LeasesRelatedToConcessionPayable" xlink:title="Label : LeasesRelatedToConcessionPayable to label_LeasesRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasesRelatedToConcessionPayable_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasesRelatedToConcessionPayable_1" xml:lang="en-US" id="label_LeasesRelatedToConcessionPayable_1">The amount of leases under IFRS 16 related to concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesRelatedToConcessionPayable" xlink:to="label_LeasesRelatedToConcessionPayable_1" xlink:title="Label : LeasesRelatedToConcessionPayable to label_LeasesRelatedToConcessionPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasesRelatedToConcessionPayable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesRelatedToConcessionPayable_2" xml:lang="en-US" id="label_LeasesRelatedToConcessionPayable_2">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesRelatedToConcessionPayable" xlink:to="label_LeasesRelatedToConcessionPayable_2" xlink:title="Label : LeasesRelatedToConcessionPayable to label_LeasesRelatedToConcessionPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GrantsRelatedToConcessionPayable" xlink:label="GrantsRelatedToConcessionPayable" xlink:title="GrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_GrantsRelatedToConcessionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrantsRelatedToConcessionPayable" xml:lang="en-US" id="label_GrantsRelatedToConcessionPayable">Grants Related to Concession Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantsRelatedToConcessionPayable" xlink:to="label_GrantsRelatedToConcessionPayable" xlink:title="Label : GrantsRelatedToConcessionPayable to label_GrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_GrantsRelatedToConcessionPayable_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GrantsRelatedToConcessionPayable_1" xml:lang="en-US" id="label_GrantsRelatedToConcessionPayable_1">The amount of grants under IFRS 16 related to concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantsRelatedToConcessionPayable" xlink:to="label_GrantsRelatedToConcessionPayable_1" xlink:title="Label : GrantsRelatedToConcessionPayable to label_GrantsRelatedToConcessionPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_GrantsRelatedToConcessionPayable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GrantsRelatedToConcessionPayable_2" xml:lang="en-US" id="label_GrantsRelatedToConcessionPayable_2">Grants</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrantsRelatedToConcessionPayable" xlink:to="label_GrantsRelatedToConcessionPayable_2" xlink:title="Label : GrantsRelatedToConcessionPayable to label_GrantsRelatedToConcessionPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasesAndGrantsRelatedToConcessionPayable" xlink:label="LeasesAndGrantsRelatedToConcessionPayable" xlink:title="LeasesAndGrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndGrantsRelatedToConcessionPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasesAndGrantsRelatedToConcessionPayable" xml:lang="en-US" id="label_LeasesAndGrantsRelatedToConcessionPayable">The amount of leases and grants under IFRS 16 related to concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_LeasesAndGrantsRelatedToConcessionPayable" xlink:title="Label : LeasesAndGrantsRelatedToConcessionPayable to label_LeasesAndGrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndGrantsRelatedToConcessionPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesAndGrantsRelatedToConcessionPayable_1" xml:lang="en-US" id="label_LeasesAndGrantsRelatedToConcessionPayable_1">Leases and grants related to concession payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_LeasesAndGrantsRelatedToConcessionPayable_1" xlink:title="Label : LeasesAndGrantsRelatedToConcessionPayable to label_LeasesAndGrantsRelatedToConcessionPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndGrantsRelatedToConcessionPayable_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesAndGrantsRelatedToConcessionPayable_2" xml:lang="en-US" id="label_LeasesAndGrantsRelatedToConcessionPayable_2">Leases and Grants Related to Concession Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_LeasesAndGrantsRelatedToConcessionPayable_2" xlink:title="Label : LeasesAndGrantsRelatedToConcessionPayable to label_LeasesAndGrantsRelatedToConcessionPayable_2" />
    <link:label xlink:type="resource" xlink:label="label_LeasesAndGrantsRelatedToConcessionPayable_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LeasesAndGrantsRelatedToConcessionPayable_3" xml:lang="en-US" id="label_LeasesAndGrantsRelatedToConcessionPayable_3">Leases and grants related to concession payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_LeasesAndGrantsRelatedToConcessionPayable_3" xlink:title="Label : LeasesAndGrantsRelatedToConcessionPayable to label_LeasesAndGrantsRelatedToConcessionPayable_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:label="CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:title="CurrentLeasesAndGrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrentLeasesAndGrantsRelatedToConcessionPayable" xml:lang="en-US" id="label_CurrentLeasesAndGrantsRelatedToConcessionPayable">Current Leases and Grants Related to Concession Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:title="Label : CurrentLeasesAndGrantsRelatedToConcessionPayable to label_CurrentLeasesAndGrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_1" xml:lang="en-US" id="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_1">Current leases and grants related to concession payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_1" xlink:title="Label : CurrentLeasesAndGrantsRelatedToConcessionPayable to label_CurrentLeasesAndGrantsRelatedToConcessionPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_2" xml:lang="en-US" id="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_2">The amount of current leases and grants under IFRS 16 related to concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_CurrentLeasesAndGrantsRelatedToConcessionPayable_2" xlink:title="Label : CurrentLeasesAndGrantsRelatedToConcessionPayable to label_CurrentLeasesAndGrantsRelatedToConcessionPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:label="NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:title="NonCurrentLeasesAndGrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xml:lang="en-US" id="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable">Non Current Leases and Grants Related to Concession Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:title="Label : NonCurrentLeasesAndGrantsRelatedToConcessionPayable to label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_1" xml:lang="en-US" id="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_1">Non-current leases and grants related to concession payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_1" xlink:title="Label : NonCurrentLeasesAndGrantsRelatedToConcessionPayable to label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_2" xml:lang="en-US" id="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_2">The amount of non-current leases and grants under IFRS 16 related to concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentLeasesAndGrantsRelatedToConcessionPayable" xlink:to="label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_2" xlink:title="Label : NonCurrentLeasesAndGrantsRelatedToConcessionPayable to label_NonCurrentLeasesAndGrantsRelatedToConcessionPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfInstallmentsForConcessionAgreement" xlink:label="NumberOfInstallmentsForConcessionAgreement" xlink:title="NumberOfInstallmentsForConcessionAgreement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstallmentsForConcessionAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfInstallmentsForConcessionAgreement" xml:lang="en-US" id="label_NumberOfInstallmentsForConcessionAgreement">Number of Installments for Concession Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstallmentsForConcessionAgreement" xlink:to="label_NumberOfInstallmentsForConcessionAgreement" xlink:title="Label : NumberOfInstallmentsForConcessionAgreement to label_NumberOfInstallmentsForConcessionAgreement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstallmentsForConcessionAgreement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfInstallmentsForConcessionAgreement_1" xml:lang="en-US" id="label_NumberOfInstallmentsForConcessionAgreement_1">The number of quarterly installments falling due pursuant to the terms of the concession agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstallmentsForConcessionAgreement" xlink:to="label_NumberOfInstallmentsForConcessionAgreement_1" xlink:title="Label : NumberOfInstallmentsForConcessionAgreement to label_NumberOfInstallmentsForConcessionAgreement_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstallmentsForConcessionAgreement_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfInstallmentsForConcessionAgreement_2" xml:lang="en-US" id="label_NumberOfInstallmentsForConcessionAgreement_2">Number of installments for concession agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstallmentsForConcessionAgreement" xlink:to="label_NumberOfInstallmentsForConcessionAgreement_2" xlink:title="Label : NumberOfInstallmentsForConcessionAgreement to label_NumberOfInstallmentsForConcessionAgreement_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:label="InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:title="InstallmentsAmountFallingDueOfGrantsConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable" xml:lang="en-US" id="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable">Installments Amount Falling Due of Grants Concession Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:to="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:title="Label : InstallmentsAmountFallingDueOfGrantsConcessionPayable to label_InstallmentsAmountFallingDueOfGrantsConcessionPayable" />
    <link:label xlink:type="resource" xlink:label="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_1" xml:lang="en-US" id="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_1">The amount of installments falling due of grants concession payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:to="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_1" xlink:title="Label : InstallmentsAmountFallingDueOfGrantsConcessionPayable to label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_2" xml:lang="en-US" id="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_2">Installments amount falling due of grants concession payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InstallmentsAmountFallingDueOfGrantsConcessionPayable" xlink:to="label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_2" xlink:title="Label : InstallmentsAmountFallingDueOfGrantsConcessionPayable to label_InstallmentsAmountFallingDueOfGrantsConcessionPayable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfOtherProvisionsAbstract" xlink:label="DisclosureOfOtherProvisionsAbstract" xlink:title="DisclosureOfOtherProvisionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherProvisionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherProvisionsAbstract" xml:lang="en-US" id="label_DisclosureOfOtherProvisionsAbstract">Disclosure of other provisions [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherProvisionsAbstract" xlink:to="label_DisclosureOfOtherProvisionsAbstract" xlink:title="Label : DisclosureOfOtherProvisionsAbstract to label_DisclosureOfOtherProvisionsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xlink:label="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xlink:title="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xml:lang="en-US" id="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable">Disclosure of information about amounts recognised in relation to regulatory deferral account balances [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xlink:to="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xlink:title="Label : DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable to label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable_1" xml:lang="en-US" id="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable_1">Disclosure of information about amounts recognised in relation to regulatory deferral account balances [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable" xlink:to="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable_1" xlink:title="Label : DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable to label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" xlink:label="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" xlink:title="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" xml:lang="en-US" id="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems">Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" xlink:to="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" xlink:title="Label : DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems to label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems_1" xml:lang="en-US" id="label_DisclosureOfInformationAboutAmountsRecognisedInRelationToRegulatoryDeferralAccountBalancesLineItems_1">Disclosure of information about amounts recognised in relation to regulatory deferral account balances [line items]</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfGasToBeRecoveredTransferred" xlink:label="CostOfGasToBeRecoveredTransferred" xlink:title="CostOfGasToBeRecoveredTransferred" />
    <link:label xlink:type="resource" xlink:label="label_CostOfGasToBeRecoveredTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfGasToBeRecoveredTransferred" xml:lang="en-US" id="label_CostOfGasToBeRecoveredTransferred">Cost of gas to be recovered/(transferred)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfGasToBeRecoveredTransferred" xlink:to="label_CostOfGasToBeRecoveredTransferred" xlink:title="Label : CostOfGasToBeRecoveredTransferred to label_CostOfGasToBeRecoveredTransferred" />
    <link:label xlink:type="resource" xlink:label="label_CostOfGasToBeRecoveredTransferred_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CostOfGasToBeRecoveredTransferred_1" xml:lang="en-US" id="label_CostOfGasToBeRecoveredTransferred_1">Cost of gas to be recovered</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditsOfTaxesToBeRecoveredTransferred" xlink:label="CreditsOfTaxesToBeRecoveredTransferred" xlink:title="CreditsOfTaxesToBeRecoveredTransferred" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditsOfTaxesToBeRecoveredTransferred" xlink:to="label_CreditsOfTaxesToBeRecoveredTransferred_2" xlink:title="Label : CreditsOfTaxesToBeRecoveredTransferred to label_CreditsOfTaxesToBeRecoveredTransferred_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RegulatoryAssetsLiabilitiesNet" xlink:label="RegulatoryAssetsLiabilitiesNet" xlink:title="RegulatoryAssetsLiabilitiesNet" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesNet" xlink:to="label_RegulatoryAssetsLiabilitiesNet" xlink:title="Label : RegulatoryAssetsLiabilitiesNet to label_RegulatoryAssetsLiabilitiesNet" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesNet" xlink:to="label_RegulatoryAssetsLiabilitiesNet_2" xlink:title="Label : RegulatoryAssetsLiabilitiesNet to label_RegulatoryAssetsLiabilitiesNet_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances" xlink:label="IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances" xlink:title="IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances" xlink:to="label_IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances" xlink:title="Label : IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances to label_IncreaseDecreaseThroughBalancesRecognisedInCurrentPeriodInStatementOfFinancialPositionRegulatoryDeferralAccountCreditBalances" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xlink:label="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xlink:title="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xml:lang="en-US" id="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances">Regulatory assets (liabilities) tax deferral account credit balances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xlink:to="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xlink:title="Label : RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances to label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances_1" xml:lang="en-US" id="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances_1">Regulatory liabilities - Tax</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" xlink:to="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances_2" xlink:title="Label : RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances to label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:label="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:title="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xml:lang="en-US" id="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet">Regulatory assets (liabilities) tax deferral account credit balances net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:to="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:title="Label : RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet to label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_1" xml:lang="en-US" id="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_1">Regulatory assets liabilities tax deferral account credit balances net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:to="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_1" xlink:title="Label : RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet to label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" xlink:to="label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_2" xlink:title="Label : RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet to label_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances" xlink:label="IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances" xlink:title="IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances" xlink:to="label_IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances" xlink:title="Label : IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances to label_IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughChangesInForeignExchangeRatesRegulatoryDeferralAccountCreditBalances_1">Monetary variation</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" xlink:label="IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" xlink:title="IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" xlink:to="label_IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" xlink:title="Label : IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances to label_IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" xlink:to="label_IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances_2" xlink:title="Label : IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances to label_IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughOtherAdjustments" xlink:label="IncreaseDecreaseThroughOtherAdjustments" xlink:title="IncreaseDecreaseThroughOtherAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughOtherAdjustments" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherAdjustments">Increase Decrease Through Other Adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherAdjustments" xlink:to="label_IncreaseDecreaseThroughOtherAdjustments" xlink:title="Label : IncreaseDecreaseThroughOtherAdjustments to label_IncreaseDecreaseThroughOtherAdjustments" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherAdjustments" xlink:to="label_IncreaseDecreaseThroughOtherAdjustments_1" xlink:title="Label : IncreaseDecreaseThroughOtherAdjustments to label_IncreaseDecreaseThroughOtherAdjustments_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherAdjustments" xlink:to="label_IncreaseDecreaseThroughOtherAdjustments_2" xlink:title="Label : IncreaseDecreaseThroughOtherAdjustments to label_IncreaseDecreaseThroughOtherAdjustments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NetCurrentAccountFlowForActualCostOfGasIncurred" xlink:label="NetCurrentAccountFlowForActualCostOfGasIncurred" xlink:title="NetCurrentAccountFlowForActualCostOfGasIncurred" />
    <link:label xlink:type="resource" xlink:label="label_NetCurrentAccountFlowForActualCostOfGasIncurred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetCurrentAccountFlowForActualCostOfGasIncurred" xml:lang="en-US" id="label_NetCurrentAccountFlowForActualCostOfGasIncurred">Net Current Account Flow For Actual Cost Of Gas Incurred</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCurrentAccountFlowForActualCostOfGasIncurred" xlink:to="label_NetCurrentAccountFlowForActualCostOfGasIncurred" xlink:title="Label : NetCurrentAccountFlowForActualCostOfGasIncurred to label_NetCurrentAccountFlowForActualCostOfGasIncurred" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfSectorFinancialAssetAndLiabilityLineItems" xlink:label="DisclosureOfSectorFinancialAssetAndLiabilityLineItems" xlink:title="DisclosureOfSectorFinancialAssetAndLiabilityLineItems" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSectorFinancialAssetAndLiabilityLineItems" xlink:to="label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems" xlink:title="Label : DisclosureOfSectorFinancialAssetAndLiabilityLineItems to label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems" />
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    <link:label xlink:type="resource" xlink:label="label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems_2" xml:lang="en-US" id="label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems_2">Sector financial asset and liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfSectorFinancialAssetAndLiabilityLineItems" xlink:to="label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems_2" xlink:title="Label : DisclosureOfSectorFinancialAssetAndLiabilityLineItems to label_DisclosureOfSectorFinancialAssetAndLiabilityLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xlink:label="ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xlink:title="ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xml:lang="en-US" id="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract">Reconciliation of Changes in Net Sector Financial Asset Liability [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xlink:to="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xlink:title="Label : ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract to label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract_1" xml:lang="en-US" id="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract_1">Reconciliation of changes in net sector financial asset (liability)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" xlink:to="label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract_1" xlink:title="Label : ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract to label_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SectorFinancialAssetLiability" xlink:label="SectorFinancialAssetLiability" xlink:title="SectorFinancialAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetLiability" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_SectorFinancialAssetLiability" xml:lang="en-US" id="label_SectorFinancialAssetLiability">Net sector financial asset (liability) at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetLiability" xlink:to="label_SectorFinancialAssetLiability" xlink:title="Label : SectorFinancialAssetLiability to label_SectorFinancialAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetLiability_1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_SectorFinancialAssetLiability_1" xml:lang="en-US" id="label_SectorFinancialAssetLiability_1">Net sector financial asset (liability) at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetLiability" xlink:to="label_SectorFinancialAssetLiability_1" xlink:title="Label : SectorFinancialAssetLiability to label_SectorFinancialAssetLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetLiability_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SectorFinancialAssetLiability_2" xml:lang="en-US" id="label_SectorFinancialAssetLiability_2">The amount of sector financial assets or liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetLiability" xlink:to="label_SectorFinancialAssetLiability_2" xlink:title="Label : SectorFinancialAssetLiability to label_SectorFinancialAssetLiability_2" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetLiability_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SectorFinancialAssetLiability_3" xml:lang="en-US" id="label_SectorFinancialAssetLiability_3">Sector Financial Asset Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetLiability" xlink:to="label_SectorFinancialAssetLiability_3" xlink:title="Label : SectorFinancialAssetLiability to label_SectorFinancialAssetLiability_3" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssetLiability_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_SectorFinancialAssetLiability_4" xml:lang="en-US" id="label_SectorFinancialAssetLiability_4">Net sector financial asset (liability)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssetLiability" xlink:to="label_SectorFinancialAssetLiability_4" xlink:title="Label : SectorFinancialAssetLiability to label_SectorFinancialAssetLiability_4" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:label="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:title="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" />
    <link:label xlink:type="resource" xlink:label="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xml:lang="en-US" id="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability">Cost of gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:title="Label : CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" />
    <link:label xlink:type="resource" xlink:label="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" xml:lang="en-US" id="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_1">The amount of purchased natural gas and electricity that was sold during the period and recognised as an expense arising from recognition of sector financial asset and liability.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" xlink:title="Label : CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" xml:lang="en-US" id="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_2">Cost of Natural Gas and Electricity Purchased Arising from Recognition of Sector Financial Asset and Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" xlink:title="Label : CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" />
    <link:label xlink:type="resource" xlink:label="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_3" xml:lang="en-US" id="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_3">Cost of natural gas and electricity purchased arising from recognition of sector financial asset and liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_3" xlink:title="Label : CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:label="CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:title="CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" />
    <link:label xlink:type="resource" xlink:label="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xml:lang="en-US" id="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability">The amount of credits of taxes arising from recognition of sector financial asset and liability.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:title="Label : CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" />
    <link:label xlink:type="resource" xlink:label="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" xml:lang="en-US" id="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_1">Credits of Taxes Arising from Recognition of Sector Financial Asset and Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" xlink:title="Label : CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" xml:lang="en-US" id="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_2">Tax credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" xlink:to="label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" xlink:title="Label : CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability to label_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:label="BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:title="BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" />
    <link:label xlink:type="resource" xlink:label="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xml:lang="en-US" id="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember">BNDES Project VIII</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:to="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:title="Label : BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember to label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" />
    <link:label xlink:type="resource" xlink:label="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_1" xml:lang="en-US" id="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_1">This member stands for the information pertaining to Brazilian National Economic and Social Development Bank (Banco Nacional de Desenvolvimento Econ&#xF4;mico e Social), or &#x201C;BNDES,&#x201D; Project eight.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:to="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_1" xlink:title="Label : BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember to label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_2" xml:lang="en-US" id="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_2">Brazilian National Economic and Social Development Bank Project Eight [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" xlink:to="label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_2" xlink:title="Label : BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember to label_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfCriteriaForClassificationOfFinancialInstruments" xlink:label="NumberOfCriteriaForClassificationOfFinancialInstruments" xlink:title="NumberOfCriteriaForClassificationOfFinancialInstruments" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCriteriaForClassificationOfFinancialInstruments" xlink:to="label_NumberOfCriteriaForClassificationOfFinancialInstruments" xlink:title="Label : NumberOfCriteriaForClassificationOfFinancialInstruments to label_NumberOfCriteriaForClassificationOfFinancialInstruments" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCriteriaForClassificationOfFinancialInstruments" xlink:to="label_NumberOfCriteriaForClassificationOfFinancialInstruments_1" xlink:title="Label : NumberOfCriteriaForClassificationOfFinancialInstruments to label_NumberOfCriteriaForClassificationOfFinancialInstruments_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MalhaCentralContractAndMalhaPaulistaContractMember" xlink:label="MalhaCentralContractAndMalhaPaulistaContractMember" xlink:title="MalhaCentralContractAndMalhaPaulistaContractMember" />
    <link:label xlink:type="resource" xlink:label="label_MalhaCentralContractAndMalhaPaulistaContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MalhaCentralContractAndMalhaPaulistaContractMember" xml:lang="en-US" id="label_MalhaCentralContractAndMalhaPaulistaContractMember">Malha Central contract and Malha Paulista contract [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MalhaCentralContractAndMalhaPaulistaContractMember" xlink:to="label_MalhaCentralContractAndMalhaPaulistaContractMember" xlink:title="Label : MalhaCentralContractAndMalhaPaulistaContractMember to label_MalhaCentralContractAndMalhaPaulistaContractMember" />
    <link:label xlink:type="resource" xlink:label="label_MalhaCentralContractAndMalhaPaulistaContractMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MalhaCentralContractAndMalhaPaulistaContractMember_1" xml:lang="en-US" id="label_MalhaCentralContractAndMalhaPaulistaContractMember_1">This member stands for the information pertaining to Malha Central contract and Malha Paulista contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MalhaCentralContractAndMalhaPaulistaContractMember" xlink:to="label_MalhaCentralContractAndMalhaPaulistaContractMember_1" xlink:title="Label : MalhaCentralContractAndMalhaPaulistaContractMember to label_MalhaCentralContractAndMalhaPaulistaContractMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfContractsMember" xlink:label="TypesOfContractsMember" xlink:title="TypesOfContractsMember" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfContractsMember" xml:lang="en-US" id="label_TypesOfContractsMember">Types of contracts [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfContractsMember" xlink:to="label_TypesOfContractsMember" xlink:title="Label : TypesOfContractsMember to label_TypesOfContractsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfContractsAxis" xlink:label="TypesOfContractsAxis" xlink:title="TypesOfContractsAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfContractsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfContractsAxis" xml:lang="en-US" id="label_TypesOfContractsAxis">Types of contracts [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfContractsAxis" xlink:to="label_TypesOfContractsAxis" xlink:title="Label : TypesOfContractsAxis to label_TypesOfContractsAxis" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOtherTaxesAbstract" xlink:label="DisclosureOfOtherTaxesAbstract" xlink:title="DisclosureOfOtherTaxesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherTaxesAbstract" xml:lang="en-US" id="label_DisclosureOfOtherTaxesAbstract">Disclosure of other taxes [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesAbstract" xlink:to="label_DisclosureOfOtherTaxesAbstract" xlink:title="Label : DisclosureOfOtherTaxesAbstract to label_DisclosureOfOtherTaxesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfOtherTaxesAbstract_1" xml:lang="en-US" id="label_DisclosureOfOtherTaxesAbstract_1">Disclosure of other taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesAbstract" xlink:to="label_DisclosureOfOtherTaxesAbstract_1" xlink:title="Label : DisclosureOfOtherTaxesAbstract to label_DisclosureOfOtherTaxesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOtherTaxesTable" xlink:label="DisclosureOfOtherTaxesTable" xlink:title="DisclosureOfOtherTaxesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherTaxesTable" xml:lang="en-US" id="label_DisclosureOfOtherTaxesTable">Disclosure of other taxes [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesTable" xlink:to="label_DisclosureOfOtherTaxesTable" xlink:title="Label : DisclosureOfOtherTaxesTable to label_DisclosureOfOtherTaxesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOtherTaxesTable_1" xml:lang="en-US" id="label_DisclosureOfOtherTaxesTable_1">Disclosure of other taxes [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesTable" xlink:to="label_DisclosureOfOtherTaxesTable_1" xlink:title="Label : DisclosureOfOtherTaxesTable to label_DisclosureOfOtherTaxesTable_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfOtherTaxesTable_2" xml:lang="en-US" id="label_DisclosureOfOtherTaxesTable_2">Disclosure of other taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesTable" xlink:to="label_DisclosureOfOtherTaxesTable_2" xlink:title="Label : DisclosureOfOtherTaxesTable to label_DisclosureOfOtherTaxesTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_REFISMember" xlink:label="REFISMember" xlink:title="REFISMember" />
    <link:label xlink:type="resource" xlink:label="label_REFISMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_REFISMember" xml:lang="en-US" id="label_REFISMember">R- E- F- I- S- [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="REFISMember" xlink:to="label_REFISMember" xlink:title="Label : REFISMember to label_REFISMember" />
    <link:label xlink:type="resource" xlink:label="label_REFISMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_REFISMember_1" xml:lang="en-US" id="label_REFISMember_1">R- E- F- I- S- [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="REFISMember" xlink:to="label_REFISMember_1" xlink:title="Label : REFISMember to label_REFISMember_1" />
    <link:label xlink:type="resource" xlink:label="label_REFISMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_REFISMember_2" xml:lang="en-US" id="label_REFISMember_2">R- E- F- I- S.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="REFISMember" xlink:to="label_REFISMember_2" xlink:title="Label : REFISMember to label_REFISMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IcmsStateVatMember" xlink:label="IcmsStateVatMember" xlink:title="IcmsStateVatMember" />
    <link:label xlink:type="resource" xlink:label="label_IcmsStateVatMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IcmsStateVatMember" xml:lang="en-US" id="label_IcmsStateVatMember">Icms State Vat [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IcmsStateVatMember" xlink:to="label_IcmsStateVatMember" xlink:title="Label : IcmsStateVatMember to label_IcmsStateVatMember" />
    <link:label xlink:type="resource" xlink:label="label_IcmsStateVatMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IcmsStateVatMember_1" xml:lang="en-US" id="label_IcmsStateVatMember_1">ICMS - State VAT [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IcmsStateVatMember" xlink:to="label_IcmsStateVatMember_1" xlink:title="Label : IcmsStateVatMember to label_IcmsStateVatMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IcmsStateVatMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IcmsStateVatMember_2" xml:lang="en-US" id="label_IcmsStateVatMember_2">Icms state vat.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IcmsStateVatMember" xlink:to="label_IcmsStateVatMember_2" xlink:title="Label : IcmsStateVatMember to label_IcmsStateVatMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_COFINSMember" xlink:label="COFINSMember" xlink:title="COFINSMember" />
    <link:label xlink:type="resource" xlink:label="label_COFINSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_COFINSMember" xml:lang="en-US" id="label_COFINSMember">COFINS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="COFINSMember" xlink:to="label_COFINSMember" xlink:title="Label : COFINSMember to label_COFINSMember" />
    <link:label xlink:type="resource" xlink:label="label_COFINSMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_COFINSMember_1" xml:lang="en-US" id="label_COFINSMember_1">COFINS - Revenue tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="COFINSMember" xlink:to="label_COFINSMember_1" xlink:title="Label : COFINSMember to label_COFINSMember_1" />
    <link:label xlink:type="resource" xlink:label="label_COFINSMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_COFINSMember_2" xml:lang="en-US" id="label_COFINSMember_2">COFINS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="COFINSMember" xlink:to="label_COFINSMember_2" xlink:title="Label : COFINSMember to label_COFINSMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PISMember" xlink:label="PISMember" xlink:title="PISMember" />
    <link:label xlink:type="resource" xlink:label="label_PISMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PISMember" xml:lang="en-US" id="label_PISMember">PIS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PISMember" xlink:to="label_PISMember" xlink:title="Label : PISMember to label_PISMember" />
    <link:label xlink:type="resource" xlink:label="label_PISMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PISMember_1" xml:lang="en-US" id="label_PISMember_1">PIS - Revenue tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PISMember" xlink:to="label_PISMember_1" xlink:title="Label : PISMember to label_PISMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PISMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PISMember_2" xml:lang="en-US" id="label_PISMember_2">PIS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PISMember" xlink:to="label_PISMember_2" xlink:title="Label : PISMember to label_PISMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SocialSecurityChargesMember" xlink:label="SocialSecurityChargesMember" xlink:title="SocialSecurityChargesMember" />
    <link:label xlink:type="resource" xlink:label="label_SocialSecurityChargesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SocialSecurityChargesMember" xml:lang="en-US" id="label_SocialSecurityChargesMember">Social Security Charges [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SocialSecurityChargesMember" xlink:to="label_SocialSecurityChargesMember" xlink:title="Label : SocialSecurityChargesMember to label_SocialSecurityChargesMember" />
    <link:label xlink:type="resource" xlink:label="label_SocialSecurityChargesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SocialSecurityChargesMember_1" xml:lang="en-US" id="label_SocialSecurityChargesMember_1">This member stands for the information pertaining to social security charges payable as other taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SocialSecurityChargesMember" xlink:to="label_SocialSecurityChargesMember_1" xlink:title="Label : SocialSecurityChargesMember to label_SocialSecurityChargesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WithholdingIncomeTaxMember" xlink:label="WithholdingIncomeTaxMember" xlink:title="WithholdingIncomeTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_WithholdingIncomeTaxMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WithholdingIncomeTaxMember" xml:lang="en-US" id="label_WithholdingIncomeTaxMember">This member stands for the information pertaining to withholding income tax payable as other taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WithholdingIncomeTaxMember" xlink:to="label_WithholdingIncomeTaxMember" xlink:title="Label : WithholdingIncomeTaxMember to label_WithholdingIncomeTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_WithholdingIncomeTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WithholdingIncomeTaxMember_1" xml:lang="en-US" id="label_WithholdingIncomeTaxMember_1">Withholding Income Tax [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WithholdingIncomeTaxMember" xlink:to="label_WithholdingIncomeTaxMember_1" xlink:title="Label : WithholdingIncomeTaxMember to label_WithholdingIncomeTaxMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_INSSMember" xlink:label="INSSMember" xlink:title="INSSMember" />
    <link:label xlink:type="resource" xlink:label="label_INSSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_INSSMember" xml:lang="en-US" id="label_INSSMember">INSS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="INSSMember" xlink:to="label_INSSMember" xlink:title="Label : INSSMember to label_INSSMember" />
    <link:label xlink:type="resource" xlink:label="label_INSSMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_INSSMember_1" xml:lang="en-US" id="label_INSSMember_1">INSS - Social security [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="INSSMember" xlink:to="label_INSSMember_1" xlink:title="Label : INSSMember to label_INSSMember_1" />
    <link:label xlink:type="resource" xlink:label="label_INSSMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_INSSMember_2" xml:lang="en-US" id="label_INSSMember_2">INSS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="INSSMember" xlink:to="label_INSSMember_2" xlink:title="Label : INSSMember to label_INSSMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ISSMember" xlink:label="ISSMember" xlink:title="ISSMember" />
    <link:label xlink:type="resource" xlink:label="label_ISSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ISSMember" xml:lang="en-US" id="label_ISSMember">ISS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ISSMember" xlink:to="label_ISSMember" xlink:title="Label : ISSMember to label_ISSMember" />
    <link:label xlink:type="resource" xlink:label="label_ISSMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ISSMember_1" xml:lang="en-US" id="label_ISSMember_1">ISS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ISSMember" xlink:to="label_ISSMember_1" xlink:title="Label : ISSMember to label_ISSMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ISSMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ISSMember_2" xml:lang="en-US" id="label_ISSMember_2">ISS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ISSMember" xlink:to="label_ISSMember_2" xlink:title="Label : ISSMember to label_ISSMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IOFMember" xlink:label="IOFMember" xlink:title="IOFMember" />
    <link:label xlink:type="resource" xlink:label="label_IOFMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IOFMember" xml:lang="en-US" id="label_IOFMember">IOF [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IOFMember" xlink:to="label_IOFMember" xlink:title="Label : IOFMember to label_IOFMember" />
    <link:label xlink:type="resource" xlink:label="label_IOFMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IOFMember_1" xml:lang="en-US" id="label_IOFMember_1">IOF [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IOFMember" xlink:to="label_IOFMember_1" xlink:title="Label : IOFMember to label_IOFMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IOFMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IOFMember_2" xml:lang="en-US" id="label_IOFMember_2">IOF.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IOFMember" xlink:to="label_IOFMember_2" xlink:title="Label : IOFMember to label_IOFMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTaxPayableMember" xlink:label="OtherTaxPayableMember" xlink:title="OtherTaxPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTaxPayableMember" xml:lang="en-US" id="label_OtherTaxPayableMember">Other tax payable [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxPayableMember" xlink:to="label_OtherTaxPayableMember" xlink:title="Label : OtherTaxPayableMember to label_OtherTaxPayableMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxPayableMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherTaxPayableMember_1" xml:lang="en-US" id="label_OtherTaxPayableMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxPayableMember" xlink:to="label_OtherTaxPayableMember_1" xlink:title="Label : OtherTaxPayableMember to label_OtherTaxPayableMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxPayableMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTaxPayableMember_2" xml:lang="en-US" id="label_OtherTaxPayableMember_2">Other tax payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxPayableMember" xlink:to="label_OtherTaxPayableMember_2" xlink:title="Label : OtherTaxPayableMember to label_OtherTaxPayableMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOtherTaxesLineItems" xlink:label="DisclosureOfOtherTaxesLineItems" xlink:title="DisclosureOfOtherTaxesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherTaxesLineItems" xml:lang="en-US" id="label_DisclosureOfOtherTaxesLineItems">Disclosure of other taxes [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesLineItems" xlink:to="label_DisclosureOfOtherTaxesLineItems" xlink:title="Label : DisclosureOfOtherTaxesLineItems to label_DisclosureOfOtherTaxesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOtherTaxesLineItems_1" xml:lang="en-US" id="label_DisclosureOfOtherTaxesLineItems_1">Disclosure of other taxes [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesLineItems" xlink:to="label_DisclosureOfOtherTaxesLineItems_1" xlink:title="Label : DisclosureOfOtherTaxesLineItems to label_DisclosureOfOtherTaxesLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherTaxesLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfOtherTaxesLineItems_2" xml:lang="en-US" id="label_DisclosureOfOtherTaxesLineItems_2">Disclosure of other taxes [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherTaxesLineItems" xlink:to="label_DisclosureOfOtherTaxesLineItems_2" xlink:title="Label : DisclosureOfOtherTaxesLineItems to label_DisclosureOfOtherTaxesLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTaxPayable" xlink:label="OtherTaxPayable" xlink:title="OtherTaxPayable" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTaxPayable" xml:lang="en-US" id="label_OtherTaxPayable">Other tax payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxPayable" xlink:to="label_OtherTaxPayable" xlink:title="Label : OtherTaxPayable to label_OtherTaxPayable" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherTaxPayable_1" xml:lang="en-US" id="label_OtherTaxPayable_1">Other tax payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxPayable" xlink:to="label_OtherTaxPayable_1" xlink:title="Label : OtherTaxPayable to label_OtherTaxPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTaxPayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTaxPayable_2" xml:lang="en-US" id="label_OtherTaxPayable_2">Other tax payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTaxPayable" xlink:to="label_OtherTaxPayable_2" xlink:title="Label : OtherTaxPayable to label_OtherTaxPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodOneMember" xlink:label="MaturityPeriodOneMember" xlink:title="MaturityPeriodOneMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodOneMember" xml:lang="en-US" id="label_MaturityPeriodOneMember">Maturity Period One [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodOneMember" xlink:to="label_MaturityPeriodOneMember" xlink:title="Label : MaturityPeriodOneMember to label_MaturityPeriodOneMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodOneMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodOneMember_1" xml:lang="en-US" id="label_MaturityPeriodOneMember_1">13 to 24 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodOneMember" xlink:to="label_MaturityPeriodOneMember_1" xlink:title="Label : MaturityPeriodOneMember to label_MaturityPeriodOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodOneMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodOneMember_2" xml:lang="en-US" id="label_MaturityPeriodOneMember_2">Maturity period one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodOneMember" xlink:to="label_MaturityPeriodOneMember_2" xlink:title="Label : MaturityPeriodOneMember to label_MaturityPeriodOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodTwoMember" xlink:label="MaturityPeriodTwoMember" xlink:title="MaturityPeriodTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodTwoMember" xml:lang="en-US" id="label_MaturityPeriodTwoMember">Maturity Period Two [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodTwoMember" xlink:to="label_MaturityPeriodTwoMember" xlink:title="Label : MaturityPeriodTwoMember to label_MaturityPeriodTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodTwoMember_1" xml:lang="en-US" id="label_MaturityPeriodTwoMember_1">25 to 36 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodTwoMember" xlink:to="label_MaturityPeriodTwoMember_1" xlink:title="Label : MaturityPeriodTwoMember to label_MaturityPeriodTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodTwoMember_2" xml:lang="en-US" id="label_MaturityPeriodTwoMember_2">Maturity period two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodTwoMember" xlink:to="label_MaturityPeriodTwoMember_2" xlink:title="Label : MaturityPeriodTwoMember to label_MaturityPeriodTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodThreeMember" xlink:label="MaturityPeriodThreeMember" xlink:title="MaturityPeriodThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodThreeMember" xml:lang="en-US" id="label_MaturityPeriodThreeMember">Maturity Period Three [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodThreeMember" xlink:to="label_MaturityPeriodThreeMember" xlink:title="Label : MaturityPeriodThreeMember to label_MaturityPeriodThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodThreeMember_1" xml:lang="en-US" id="label_MaturityPeriodThreeMember_1">37 to 48 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodThreeMember" xlink:to="label_MaturityPeriodThreeMember_1" xlink:title="Label : MaturityPeriodThreeMember to label_MaturityPeriodThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodThreeMember_2" xml:lang="en-US" id="label_MaturityPeriodThreeMember_2">Maturity period three.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodThreeMember" xlink:to="label_MaturityPeriodThreeMember_2" xlink:title="Label : MaturityPeriodThreeMember to label_MaturityPeriodThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodFourMember" xlink:label="MaturityPeriodFourMember" xlink:title="MaturityPeriodFourMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodFourMember" xml:lang="en-US" id="label_MaturityPeriodFourMember">Maturity Period Four [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodFourMember" xlink:to="label_MaturityPeriodFourMember" xlink:title="Label : MaturityPeriodFourMember to label_MaturityPeriodFourMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodFourMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodFourMember_1" xml:lang="en-US" id="label_MaturityPeriodFourMember_1">49 to 60 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodFourMember" xlink:to="label_MaturityPeriodFourMember_1" xlink:title="Label : MaturityPeriodFourMember to label_MaturityPeriodFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodFourMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodFourMember_2" xml:lang="en-US" id="label_MaturityPeriodFourMember_2">Maturity period four.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodFourMember" xlink:to="label_MaturityPeriodFourMember_2" xlink:title="Label : MaturityPeriodFourMember to label_MaturityPeriodFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodFiveMember" xlink:label="MaturityPeriodFiveMember" xlink:title="MaturityPeriodFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodFiveMember" xml:lang="en-US" id="label_MaturityPeriodFiveMember">Maturity Period Five [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodFiveMember" xlink:to="label_MaturityPeriodFiveMember" xlink:title="Label : MaturityPeriodFiveMember to label_MaturityPeriodFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodFiveMember_1" xml:lang="en-US" id="label_MaturityPeriodFiveMember_1">61 to 72 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodFiveMember" xlink:to="label_MaturityPeriodFiveMember_1" xlink:title="Label : MaturityPeriodFiveMember to label_MaturityPeriodFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodFiveMember_2" xml:lang="en-US" id="label_MaturityPeriodFiveMember_2">Maturity period five.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodFiveMember" xlink:to="label_MaturityPeriodFiveMember_2" xlink:title="Label : MaturityPeriodFiveMember to label_MaturityPeriodFiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodSixMember" xlink:label="MaturityPeriodSixMember" xlink:title="MaturityPeriodSixMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodSixMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodSixMember" xml:lang="en-US" id="label_MaturityPeriodSixMember">Maturity Period Six [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodSixMember" xlink:to="label_MaturityPeriodSixMember" xlink:title="Label : MaturityPeriodSixMember to label_MaturityPeriodSixMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodSixMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodSixMember_1" xml:lang="en-US" id="label_MaturityPeriodSixMember_1">73 to 84 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodSixMember" xlink:to="label_MaturityPeriodSixMember_1" xlink:title="Label : MaturityPeriodSixMember to label_MaturityPeriodSixMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodSixMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodSixMember_2" xml:lang="en-US" id="label_MaturityPeriodSixMember_2">Maturity period six.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodSixMember" xlink:to="label_MaturityPeriodSixMember_2" xlink:title="Label : MaturityPeriodSixMember to label_MaturityPeriodSixMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodSevenMember" xlink:label="MaturityPeriodSevenMember" xlink:title="MaturityPeriodSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodSevenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodSevenMember" xml:lang="en-US" id="label_MaturityPeriodSevenMember">Maturity Period Seven [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodSevenMember" xlink:to="label_MaturityPeriodSevenMember" xlink:title="Label : MaturityPeriodSevenMember to label_MaturityPeriodSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodSevenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodSevenMember_1" xml:lang="en-US" id="label_MaturityPeriodSevenMember_1">85 to 96 months [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodSevenMember" xlink:to="label_MaturityPeriodSevenMember_1" xlink:title="Label : MaturityPeriodSevenMember to label_MaturityPeriodSevenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodSevenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodSevenMember_2" xml:lang="en-US" id="label_MaturityPeriodSevenMember_2">Maturity period seven.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodSevenMember" xlink:to="label_MaturityPeriodSevenMember_2" xlink:title="Label : MaturityPeriodSevenMember to label_MaturityPeriodSevenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodEightAndThereafterMember" xlink:label="MaturityPeriodEightAndThereafterMember" xlink:title="MaturityPeriodEightAndThereafterMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodEightAndThereafterMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodEightAndThereafterMember" xml:lang="en-US" id="label_MaturityPeriodEightAndThereafterMember">Maturity Period Eight and Thereafter [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodEightAndThereafterMember" xlink:to="label_MaturityPeriodEightAndThereafterMember" xlink:title="Label : MaturityPeriodEightAndThereafterMember to label_MaturityPeriodEightAndThereafterMember" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodEightAndThereafterMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityPeriodEightAndThereafterMember_1" xml:lang="en-US" id="label_MaturityPeriodEightAndThereafterMember_1">Thereafter [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodEightAndThereafterMember" xlink:to="label_MaturityPeriodEightAndThereafterMember_1" xlink:title="Label : MaturityPeriodEightAndThereafterMember to label_MaturityPeriodEightAndThereafterMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodEightAndThereafterMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodEightAndThereafterMember_2" xml:lang="en-US" id="label_MaturityPeriodEightAndThereafterMember_2">Maturity period eight and thereafter.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodEightAndThereafterMember" xlink:to="label_MaturityPeriodEightAndThereafterMember_2" xlink:title="Label : MaturityPeriodEightAndThereafterMember to label_MaturityPeriodEightAndThereafterMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" xlink:label="DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" xlink:title="DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" xml:lang="en-US" id="label_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract">Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" xlink:to="label_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" xlink:title="Label : DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract to label_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ApplicableTaxRate" xlink:title="ApplicableTaxRate" />
    <link:label xlink:type="resource" xlink:label="label_ApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ApplicableTaxRate" xml:lang="en-US" id="label_ApplicableTaxRate">Applicable tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ApplicableTaxRate" xlink:to="label_ApplicableTaxRate" xlink:title="Label : ApplicableTaxRate to label_ApplicableTaxRate" />
    <link:label xlink:type="resource" xlink:label="label_ApplicableTaxRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ApplicableTaxRate_1" xml:lang="en-US" id="label_ApplicableTaxRate_1">Income tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ApplicableTaxRate" xlink:to="label_ApplicableTaxRate_1" xlink:title="Label : ApplicableTaxRate to label_ApplicableTaxRate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaximumPermittedTaxLossCarryforwardsPercentage" xlink:label="MaximumPermittedTaxLossCarryforwardsPercentage" xlink:title="MaximumPermittedTaxLossCarryforwardsPercentage" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPermittedTaxLossCarryforwardsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaximumPermittedTaxLossCarryforwardsPercentage" xml:lang="en-US" id="label_MaximumPermittedTaxLossCarryforwardsPercentage">Maximum permitted tax loss carryforwards percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumPermittedTaxLossCarryforwardsPercentage" xlink:to="label_MaximumPermittedTaxLossCarryforwardsPercentage" xlink:title="Label : MaximumPermittedTaxLossCarryforwardsPercentage to label_MaximumPermittedTaxLossCarryforwardsPercentage" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPermittedTaxLossCarryforwardsPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumPermittedTaxLossCarryforwardsPercentage_1" xml:lang="en-US" id="label_MaximumPermittedTaxLossCarryforwardsPercentage_1">Maximum permitted tax loss carry forwards percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumPermittedTaxLossCarryforwardsPercentage" xlink:to="label_MaximumPermittedTaxLossCarryforwardsPercentage_1" xlink:title="Label : MaximumPermittedTaxLossCarryforwardsPercentage to label_MaximumPermittedTaxLossCarryforwardsPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPermittedTaxLossCarryforwardsPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaximumPermittedTaxLossCarryforwardsPercentage_2" xml:lang="en-US" id="label_MaximumPermittedTaxLossCarryforwardsPercentage_2">Maximum permitted tax loss carryforwards percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumPermittedTaxLossCarryforwardsPercentage" xlink:to="label_MaximumPermittedTaxLossCarryforwardsPercentage_2" xlink:title="Label : MaximumPermittedTaxLossCarryforwardsPercentage to label_MaximumPermittedTaxLossCarryforwardsPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncomeTaxAndSocialContribution" xlink:label="IncomeTaxAndSocialContribution" xlink:title="IncomeTaxAndSocialContribution" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:label="ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:title="ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfInterestInEarningsOfInvestees" xlink:label="TaxEffectOfInterestInEarningsOfInvestees" xlink:title="TaxEffectOfInterestInEarningsOfInvestees" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfInterestInEarningsOfInvestees" xlink:to="label_TaxEffectOfInterestInEarningsOfInvestees_1" xlink:title="Label : TaxEffectOfInterestInEarningsOfInvestees to label_TaxEffectOfInterestInEarningsOfInvestees_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfInterestInEarningsOfInvestees_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxEffectOfInterestInEarningsOfInvestees_2" xml:lang="en-US" id="label_TaxEffectOfInterestInEarningsOfInvestees_2">Tax effect of interest in earnings of investees.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfInterestInEarningsOfInvestees" xlink:to="label_TaxEffectOfInterestInEarningsOfInvestees_2" xlink:title="Label : TaxEffectOfInterestInEarningsOfInvestees to label_TaxEffectOfInterestInEarningsOfInvestees_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:label="TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:title="TaxEffectOfPermanentAndOtherDifferenceTaxRates" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates" xml:lang="en-US" id="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates">Tax Effect of Permanent and Other Difference Tax Rates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:to="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:title="Label : TaxEffectOfPermanentAndOtherDifferenceTaxRates to label_TaxEffectOfPermanentAndOtherDifferenceTaxRates" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_1" xml:lang="en-US" id="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_1">Differences in tax rates on earnings (losses) of overseas companies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:to="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_1" xlink:title="Label : TaxEffectOfPermanentAndOtherDifferenceTaxRates to label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_2" xml:lang="en-US" id="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_2">Tax effect of permanent and other difference tax rates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfPermanentAndOtherDifferenceTaxRates" xlink:to="label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_2" xlink:title="Label : TaxEffectOfPermanentAndOtherDifferenceTaxRates to label_TaxEffectOfPermanentAndOtherDifferenceTaxRates_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncomeTaxIncentiveAmount" xlink:label="IncomeTaxIncentiveAmount" xlink:title="IncomeTaxIncentiveAmount" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxIncentiveAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxIncentiveAmount" xml:lang="en-US" id="label_IncomeTaxIncentiveAmount">Income tax incentive amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxIncentiveAmount" xlink:to="label_IncomeTaxIncentiveAmount" xlink:title="Label : IncomeTaxIncentiveAmount to label_IncomeTaxIncentiveAmount" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxIncentiveAmount_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IncomeTaxIncentiveAmount_1" xml:lang="en-US" id="label_IncomeTaxIncentiveAmount_1">Granted income tax incentive</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxIncentiveAmount" xlink:to="label_IncomeTaxIncentiveAmount_1" xlink:title="Label : IncomeTaxIncentiveAmount to label_IncomeTaxIncentiveAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxIncentiveAmount_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeTaxIncentiveAmount_2" xml:lang="en-US" id="label_IncomeTaxIncentiveAmount_2">Income tax incentive amount.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxIncentiveAmount" xlink:to="label_IncomeTaxIncentiveAmount_2" xlink:title="Label : IncomeTaxIncentiveAmount to label_IncomeTaxIncentiveAmount_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfSharebasedCompensation" xlink:label="TaxEffectOfSharebasedCompensation" xlink:title="TaxEffectOfSharebasedCompensation" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfSharebasedCompensation" xlink:to="label_TaxEffectOfSharebasedCompensation" xlink:title="Label : TaxEffectOfSharebasedCompensation to label_TaxEffectOfSharebasedCompensation" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfSharebasedCompensation_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TaxEffectOfSharebasedCompensation_1" xml:lang="en-US" id="label_TaxEffectOfSharebasedCompensation_1">Share-based payment transactions</link:label>
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    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfSharebasedCompensation_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxEffectOfSharebasedCompensation_2" xml:lang="en-US" id="label_TaxEffectOfSharebasedCompensation_2">Tax Effect of Share-based Compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfSharebasedCompensation" xlink:to="label_TaxEffectOfSharebasedCompensation_2" xlink:title="Label : TaxEffectOfSharebasedCompensation to label_TaxEffectOfSharebasedCompensation_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfInterestOnEquity" xlink:label="TaxEffectOfInterestOnEquity" xlink:title="TaxEffectOfInterestOnEquity" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfInterestOnEquity" xlink:to="label_TaxEffectOfInterestOnEquity" xlink:title="Label : TaxEffectOfInterestOnEquity to label_TaxEffectOfInterestOnEquity" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfInterestOnEquity" xlink:to="label_TaxEffectOfInterestOnEquity_1" xlink:title="Label : TaxEffectOfInterestOnEquity to label_TaxEffectOfInterestOnEquity_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfInterestOnEquity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxEffectOfInterestOnEquity_2" xml:lang="en-US" id="label_TaxEffectOfInterestOnEquity_2">Tax effect of interest on equity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfInterestOnEquity" xlink:to="label_TaxEffectOfInterestOnEquity_2" xlink:title="Label : TaxEffectOfInterestOnEquity to label_TaxEffectOfInterestOnEquity_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfNondeductibleExpenses" xlink:label="TaxEffectOfNondeductibleExpenses" xlink:title="TaxEffectOfNondeductibleExpenses" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfNondeductibleExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxEffectOfNondeductibleExpenses" xml:lang="en-US" id="label_TaxEffectOfNondeductibleExpenses">Tax Effect of Non-deductible Expenses</link:label>
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    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfNondeductibleExpenses_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TaxEffectOfNondeductibleExpenses_1" xml:lang="en-US" id="label_TaxEffectOfNondeductibleExpenses_1">Non-deductible expenses (donations, gifts, etc.)</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfTaxLossesNotRecognized" xlink:label="TaxEffectOfTaxLossesNotRecognized" xlink:title="TaxEffectOfTaxLossesNotRecognized" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TaxEffectOfImpairmentOfGoodwill" xlink:label="TaxEffectOfImpairmentOfGoodwill" xlink:title="TaxEffectOfImpairmentOfGoodwill" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:label="OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:title="OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AverageEffectiveTaxRate" xlink:label="AverageEffectiveTaxRate" xlink:title="AverageEffectiveTaxRate" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AverageEffectiveTaxRate" xlink:to="label_AverageEffectiveTaxRate" xlink:title="Label : AverageEffectiveTaxRate to label_AverageEffectiveTaxRate" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NominalInterestRate" xlink:label="NominalInterestRate" xlink:title="NominalInterestRate" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalInterestRate" xlink:to="label_NominalInterestRate" xlink:title="Label : NominalInterestRate to label_NominalInterestRate" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalInterestRate" xlink:to="label_NominalInterestRate_1" xlink:title="Label : NominalInterestRate to label_NominalInterestRate_1" />
    <link:label xlink:type="resource" xlink:label="label_NominalInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NominalInterestRate_2" xml:lang="en-US" id="label_NominalInterestRate_2">Nominal interest rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalInterestRate" xlink:to="label_NominalInterestRate_2" xlink:title="Label : NominalInterestRate to label_NominalInterestRate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxIncomeTaxLossCarryForwards" xlink:label="DeferredTaxIncomeTaxLossCarryForwards" xlink:title="DeferredTaxIncomeTaxLossCarryForwards" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxIncomeTaxLossCarryForwards" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxIncomeTaxLossCarryForwards" xml:lang="en-US" id="label_DeferredTaxIncomeTaxLossCarryForwards">Deferred tax income tax loss carry forwards.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxIncomeTaxLossCarryForwards" xlink:to="label_DeferredTaxIncomeTaxLossCarryForwards" xlink:title="Label : DeferredTaxIncomeTaxLossCarryForwards to label_DeferredTaxIncomeTaxLossCarryForwards" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxIncomeTaxLossCarryForwards_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxIncomeTaxLossCarryForwards_1" xml:lang="en-US" id="label_DeferredTaxIncomeTaxLossCarryForwards_1">Income tax losses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxIncomeTaxLossCarryForwards" xlink:to="label_DeferredTaxIncomeTaxLossCarryForwards_1" xlink:title="Label : DeferredTaxIncomeTaxLossCarryForwards to label_DeferredTaxIncomeTaxLossCarryForwards_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxIncomeTaxLossCarryForwards_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxIncomeTaxLossCarryForwards_2" xml:lang="en-US" id="label_DeferredTaxIncomeTaxLossCarryForwards_2">Deferred Tax Income Tax Loss Carry Forwards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxIncomeTaxLossCarryForwards" xlink:to="label_DeferredTaxIncomeTaxLossCarryForwards_2" xlink:title="Label : DeferredTaxIncomeTaxLossCarryForwards to label_DeferredTaxIncomeTaxLossCarryForwards_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxSocialContributionTaxLossCarryForwards" xlink:label="DeferredTaxSocialContributionTaxLossCarryForwards" xlink:title="DeferredTaxSocialContributionTaxLossCarryForwards" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxSocialContributionTaxLossCarryForwards" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxSocialContributionTaxLossCarryForwards" xml:lang="en-US" id="label_DeferredTaxSocialContributionTaxLossCarryForwards">Deferred tax social contribution tax loss carry forwards.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxSocialContributionTaxLossCarryForwards" xlink:to="label_DeferredTaxSocialContributionTaxLossCarryForwards" xlink:title="Label : DeferredTaxSocialContributionTaxLossCarryForwards to label_DeferredTaxSocialContributionTaxLossCarryForwards" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxSocialContributionTaxLossCarryForwards_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxSocialContributionTaxLossCarryForwards_1" xml:lang="en-US" id="label_DeferredTaxSocialContributionTaxLossCarryForwards_1">Social contribution losses</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DeferredTaxSocialContributionTaxLossCarryForwards_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxSocialContributionTaxLossCarryForwards_2" xml:lang="en-US" id="label_DeferredTaxSocialContributionTaxLossCarryForwards_2">Deferred tax social contribution tax loss carry forwards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxSocialContributionTaxLossCarryForwards" xlink:to="label_DeferredTaxSocialContributionTaxLossCarryForwards_2" xlink:title="Label : DeferredTaxSocialContributionTaxLossCarryForwards to label_DeferredTaxSocialContributionTaxLossCarryForwards_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TemporaryDifferencesAbstract" xlink:label="TemporaryDifferencesAbstract" xlink:title="TemporaryDifferencesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferencesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TemporaryDifferencesAbstract" xml:lang="en-US" id="label_TemporaryDifferencesAbstract">Temporary differences [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferencesAbstract" xlink:to="label_TemporaryDifferencesAbstract" xlink:title="Label : TemporaryDifferencesAbstract to label_TemporaryDifferencesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferencesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TemporaryDifferencesAbstract_1" xml:lang="en-US" id="label_TemporaryDifferencesAbstract_1">Temporary differences</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferencesAbstract" xlink:to="label_TemporaryDifferencesAbstract_1" xlink:title="Label : TemporaryDifferencesAbstract to label_TemporaryDifferencesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_TemporaryDifferencesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TemporaryDifferencesAbstract_2" xml:lang="en-US" id="label_TemporaryDifferencesAbstract_2">Temporary differences.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TemporaryDifferencesAbstract" xlink:to="label_TemporaryDifferencesAbstract_2" xlink:title="Label : TemporaryDifferencesAbstract to label_TemporaryDifferencesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsShareBasedPayments" xlink:label="DeferredTaxAssetsShareBasedPayments" xlink:title="DeferredTaxAssetsShareBasedPayments" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsShareBasedPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsShareBasedPayments" xml:lang="en-US" id="label_DeferredTaxAssetsShareBasedPayments">Deferred Tax Assets Share Based Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsShareBasedPayments" xlink:to="label_DeferredTaxAssetsShareBasedPayments" xlink:title="Label : DeferredTaxAssetsShareBasedPayments to label_DeferredTaxAssetsShareBasedPayments" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsShareBasedPayments_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxAssetsShareBasedPayments_1" xml:lang="en-US" id="label_DeferredTaxAssetsShareBasedPayments_1">Share-based payment transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsShareBasedPayments" xlink:to="label_DeferredTaxAssetsShareBasedPayments_1" xlink:title="Label : DeferredTaxAssetsShareBasedPayments to label_DeferredTaxAssetsShareBasedPayments_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsShareBasedPayments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetsShareBasedPayments_2" xml:lang="en-US" id="label_DeferredTaxAssetsShareBasedPayments_2">Deferred tax assets share based payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsShareBasedPayments" xlink:to="label_DeferredTaxAssetsShareBasedPayments_2" xlink:title="Label : DeferredTaxAssetsShareBasedPayments to label_DeferredTaxAssetsShareBasedPayments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:label="DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:title="DeferredTaxAssetsAllowanceForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xml:lang="en-US" id="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts">Deferred tax assets allowance for doubtful accounts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:to="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:title="Label : DeferredTaxAssetsAllowanceForDoubtfulAccounts to label_DeferredTaxAssetsAllowanceForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_1" xml:lang="en-US" id="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_1">Allowance for expected credit losses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:to="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_1" xlink:title="Label : DeferredTaxAssetsAllowanceForDoubtfulAccounts to label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_2" xml:lang="en-US" id="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_2">Deferred tax assets allowance for doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsAllowanceForDoubtfulAccounts" xlink:to="label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_2" xlink:title="Label : DeferredTaxAssetsAllowanceForDoubtfulAccounts to label_DeferredTaxAssetsAllowanceForDoubtfulAccounts_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsProfitSharing" xlink:label="DeferredTaxAssetsProfitSharing" xlink:title="DeferredTaxAssetsProfitSharing" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsProfitSharing" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsProfitSharing" xml:lang="en-US" id="label_DeferredTaxAssetsProfitSharing">Deferred tax assets profit sharing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsProfitSharing" xlink:to="label_DeferredTaxAssetsProfitSharing" xlink:title="Label : DeferredTaxAssetsProfitSharing to label_DeferredTaxAssetsProfitSharing" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsProfitSharing_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxAssetsProfitSharing_1" xml:lang="en-US" id="label_DeferredTaxAssetsProfitSharing_1">Profit sharing</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsProfitSharing" xlink:to="label_DeferredTaxAssetsProfitSharing_1" xlink:title="Label : DeferredTaxAssetsProfitSharing to label_DeferredTaxAssetsProfitSharing_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsProfitSharing_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetsProfitSharing_2" xml:lang="en-US" id="label_DeferredTaxAssetsProfitSharing_2">Deferred tax assets profit sharing.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsProfitSharing" xlink:to="label_DeferredTaxAssetsProfitSharing_2" xlink:title="Label : DeferredTaxAssetsProfitSharing to label_DeferredTaxAssetsProfitSharing_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetImpairmentOfTaxCredit" xlink:label="DeferredTaxAssetImpairmentOfTaxCredit" xlink:title="DeferredTaxAssetImpairmentOfTaxCredit" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetImpairmentOfTaxCredit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetImpairmentOfTaxCredit" xml:lang="en-US" id="label_DeferredTaxAssetImpairmentOfTaxCredit">Deferred tax asset impairment of tax credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetImpairmentOfTaxCredit" xlink:to="label_DeferredTaxAssetImpairmentOfTaxCredit" xlink:title="Label : DeferredTaxAssetImpairmentOfTaxCredit to label_DeferredTaxAssetImpairmentOfTaxCredit" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetImpairmentOfTaxCredit_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxAssetImpairmentOfTaxCredit_1" xml:lang="en-US" id="label_DeferredTaxAssetImpairmentOfTaxCredit_1">Tax credit losses</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetImpairmentOfTaxCredit_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetImpairmentOfTaxCredit_2" xml:lang="en-US" id="label_DeferredTaxAssetImpairmentOfTaxCredit_2">Deferred tax asset impairment of tax credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetImpairmentOfTaxCredit" xlink:to="label_DeferredTaxAssetImpairmentOfTaxCredit_2" xlink:title="Label : DeferredTaxAssetImpairmentOfTaxCredit to label_DeferredTaxAssetImpairmentOfTaxCredit_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsInterestOnEquity" xlink:label="DeferredTaxAssetsInterestOnEquity" xlink:title="DeferredTaxAssetsInterestOnEquity" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsInterestOnEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsInterestOnEquity" xml:lang="en-US" id="label_DeferredTaxAssetsInterestOnEquity">Deferred tax assets interest on equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsInterestOnEquity" xlink:to="label_DeferredTaxAssetsInterestOnEquity" xlink:title="Label : DeferredTaxAssetsInterestOnEquity to label_DeferredTaxAssetsInterestOnEquity" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsInterestOnEquity" xlink:to="label_DeferredTaxAssetsInterestOnEquity_2" xlink:title="Label : DeferredTaxAssetsInterestOnEquity to label_DeferredTaxAssetsInterestOnEquity_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:label="DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:title="DeferredTaxAssetProvisionsForEmployeeBenefits" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetProvisionsForEmployeeBenefits" xml:lang="en-US" id="label_DeferredTaxAssetProvisionsForEmployeeBenefits">Deferred tax asset provisions for employee benefits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:to="label_DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:title="Label : DeferredTaxAssetProvisionsForEmployeeBenefits to label_DeferredTaxAssetProvisionsForEmployeeBenefits" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:to="label_DeferredTaxAssetProvisionsForEmployeeBenefits_1" xlink:title="Label : DeferredTaxAssetProvisionsForEmployeeBenefits to label_DeferredTaxAssetProvisionsForEmployeeBenefits_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetProvisionsForEmployeeBenefits" xlink:to="label_DeferredTaxAssetProvisionsForEmployeeBenefits_2" xlink:title="Label : DeferredTaxAssetProvisionsForEmployeeBenefits to label_DeferredTaxAssetProvisionsForEmployeeBenefits_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsImpairmentOfAssets" xlink:label="DeferredTaxAssetsImpairmentOfAssets" xlink:title="DeferredTaxAssetsImpairmentOfAssets" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsImpairmentOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetsImpairmentOfAssets" xml:lang="en-US" id="label_DeferredTaxAssetsImpairmentOfAssets">Deferred tax assets impairment of assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsImpairmentOfAssets" xlink:to="label_DeferredTaxAssetsImpairmentOfAssets" xlink:title="Label : DeferredTaxAssetsImpairmentOfAssets to label_DeferredTaxAssetsImpairmentOfAssets" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" xlink:label="DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" xlink:title="DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesOtherTemporaryDifferences" xlink:label="DeferredTaxLiabilitiesOtherTemporaryDifferences" xlink:title="DeferredTaxLiabilitiesOtherTemporaryDifferences" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="DeferredTaxLiabilityAsset" xlink:title="DeferredTaxLiabilityAsset" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EmployeeBenefitsDeferredTaxAssetsMember" xlink:label="EmployeeBenefitsDeferredTaxAssetsMember" xlink:title="EmployeeBenefitsDeferredTaxAssetsMember" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PostEmploymentObligationsDeferredTaxAssetsMember" xlink:label="PostEmploymentObligationsDeferredTaxAssetsMember" xlink:title="PostEmploymentObligationsDeferredTaxAssetsMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PostEmploymentObligationsDeferredTaxAssetsMember" xlink:to="label_PostEmploymentObligationsDeferredTaxAssetsMember_2" xlink:title="Label : PostEmploymentObligationsDeferredTaxAssetsMember to label_PostEmploymentObligationsDeferredTaxAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PropertyDeferredTaxAssetsMember" xlink:label="PropertyDeferredTaxAssetsMember" xlink:title="PropertyDeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_PropertyDeferredTaxAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PropertyDeferredTaxAssetsMember" xml:lang="en-US" id="label_PropertyDeferredTaxAssetsMember">Property deferred tax assets [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyDeferredTaxAssetsMember" xlink:to="label_PropertyDeferredTaxAssetsMember" xlink:title="Label : PropertyDeferredTaxAssetsMember to label_PropertyDeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_PropertyDeferredTaxAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyDeferredTaxAssetsMember_1" xml:lang="en-US" id="label_PropertyDeferredTaxAssetsMember_1">Property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyDeferredTaxAssetsMember" xlink:to="label_PropertyDeferredTaxAssetsMember_1" xlink:title="Label : PropertyDeferredTaxAssetsMember to label_PropertyDeferredTaxAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PropertyDeferredTaxAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyDeferredTaxAssetsMember_2" xml:lang="en-US" id="label_PropertyDeferredTaxAssetsMember_2">Property Deferred Tax Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyDeferredTaxAssetsMember" xlink:to="label_PropertyDeferredTaxAssetsMember_2" xlink:title="Label : PropertyDeferredTaxAssetsMember to label_PropertyDeferredTaxAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnregisteredCreditsDeferredTaxAssetsMember" xlink:label="UnregisteredCreditsDeferredTaxAssetsMember" xlink:title="UnregisteredCreditsDeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_UnregisteredCreditsDeferredTaxAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnregisteredCreditsDeferredTaxAssetsMember" xml:lang="en-US" id="label_UnregisteredCreditsDeferredTaxAssetsMember">Unregistered credits Deferred Tax Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnregisteredCreditsDeferredTaxAssetsMember" xlink:to="label_UnregisteredCreditsDeferredTaxAssetsMember" xlink:title="Label : UnregisteredCreditsDeferredTaxAssetsMember to label_UnregisteredCreditsDeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_UnregisteredCreditsDeferredTaxAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnregisteredCreditsDeferredTaxAssetsMember_1" xml:lang="en-US" id="label_UnregisteredCreditsDeferredTaxAssetsMember_1">Unregistered credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnregisteredCreditsDeferredTaxAssetsMember" xlink:to="label_UnregisteredCreditsDeferredTaxAssetsMember_1" xlink:title="Label : UnregisteredCreditsDeferredTaxAssetsMember to label_UnregisteredCreditsDeferredTaxAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_UnregisteredCreditsDeferredTaxAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnregisteredCreditsDeferredTaxAssetsMember_2" xml:lang="en-US" id="label_UnregisteredCreditsDeferredTaxAssetsMember_2">Unregistered credits deferred tax assets [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnregisteredCreditsDeferredTaxAssetsMember" xlink:to="label_UnregisteredCreditsDeferredTaxAssetsMember_2" xlink:title="Label : UnregisteredCreditsDeferredTaxAssetsMember to label_UnregisteredCreditsDeferredTaxAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherDeferredTaxAssetsMember" xlink:label="OtherDeferredTaxAssetsMember" xlink:title="OtherDeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherDeferredTaxAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherDeferredTaxAssetsMember" xml:lang="en-US" id="label_OtherDeferredTaxAssetsMember">Other Deferred Tax Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDeferredTaxAssetsMember" xlink:to="label_OtherDeferredTaxAssetsMember" xlink:title="Label : OtherDeferredTaxAssetsMember to label_OtherDeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherDeferredTaxAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherDeferredTaxAssetsMember_1" xml:lang="en-US" id="label_OtherDeferredTaxAssetsMember_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDeferredTaxAssetsMember" xlink:to="label_OtherDeferredTaxAssetsMember_1" xlink:title="Label : OtherDeferredTaxAssetsMember to label_OtherDeferredTaxAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherDeferredTaxAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherDeferredTaxAssetsMember_2" xml:lang="en-US" id="label_OtherDeferredTaxAssetsMember_2">Other deferred tax assets [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDeferredTaxAssetsMember" xlink:to="label_OtherDeferredTaxAssetsMember_2" xlink:title="Label : OtherDeferredTaxAssetsMember to label_OtherDeferredTaxAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsMember" xlink:label="DeferredTaxAssetsMember" xlink:title="DeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsMember" xml:lang="en-US" id="label_DeferredTaxAssetsMember">Deferred Tax Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsMember" xlink:to="label_DeferredTaxAssetsMember" xlink:title="Label : DeferredTaxAssetsMember to label_DeferredTaxAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxAssetsMember_1" xml:lang="en-US" id="label_DeferredTaxAssetsMember_1">Deferred tax assets [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsMember" xlink:to="label_DeferredTaxAssetsMember_1" xlink:title="Label : DeferredTaxAssetsMember to label_DeferredTaxAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:label="EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:title="EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember">Effects on the formation of JV subsidiaries Deferred Tax Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:to="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:title="Label : EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember to label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_1">Effects on the formation of joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:to="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_1" xlink:title="Label : EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember to label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_2" xml:lang="en-US" id="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_2">Effects on the formation of JV subsidiaries deferred tax liabilities [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" xlink:to="label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_2" xlink:title="Label : EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember to label_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IntangibleDeferredTaxLiabilitiesMember" xlink:label="IntangibleDeferredTaxLiabilitiesMember" xlink:title="IntangibleDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IntangibleDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_IntangibleDeferredTaxLiabilitiesMember">Intangible deferred tax liabilities [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleDeferredTaxLiabilitiesMember" xlink:to="label_IntangibleDeferredTaxLiabilitiesMember" xlink:title="Label : IntangibleDeferredTaxLiabilitiesMember to label_IntangibleDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IntangibleDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_IntangibleDeferredTaxLiabilitiesMember_1">Intangible assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleDeferredTaxLiabilitiesMember" xlink:to="label_IntangibleDeferredTaxLiabilitiesMember_1" xlink:title="Label : IntangibleDeferredTaxLiabilitiesMember to label_IntangibleDeferredTaxLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IntangibleDeferredTaxLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IntangibleDeferredTaxLiabilitiesMember_2" xml:lang="en-US" id="label_IntangibleDeferredTaxLiabilitiesMember_2">Intangible Deferred Tax Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IntangibleDeferredTaxLiabilitiesMember" xlink:to="label_IntangibleDeferredTaxLiabilitiesMember_2" xlink:title="Label : IntangibleDeferredTaxLiabilitiesMember to label_IntangibleDeferredTaxLiabilitiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:label="UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:title="UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember">Unrealized income from derivatives deferred tax liabilities [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:to="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:title="Label : UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember to label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_1">Unrealized gains on derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:to="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_1" xlink:title="Label : UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember to label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_2" xml:lang="en-US" id="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_2">Unrealized Income From Derivatives Deferred Tax Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" xlink:to="label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_2" xlink:title="Label : UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember to label_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeasesDeferredTaxLiabilitiesMember" xlink:label="LeasesDeferredTaxLiabilitiesMember" xlink:title="LeasesDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasesDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeasesDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_LeasesDeferredTaxLiabilitiesMember">Leases Deferred Tax Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesDeferredTaxLiabilitiesMember" xlink:to="label_LeasesDeferredTaxLiabilitiesMember" xlink:title="Label : LeasesDeferredTaxLiabilitiesMember to label_LeasesDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_LeasesDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeasesDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_LeasesDeferredTaxLiabilitiesMember_1">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesDeferredTaxLiabilitiesMember" xlink:to="label_LeasesDeferredTaxLiabilitiesMember_1" xlink:title="Label : LeasesDeferredTaxLiabilitiesMember to label_LeasesDeferredTaxLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LeasesDeferredTaxLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeasesDeferredTaxLiabilitiesMember_2" xml:lang="en-US" id="label_LeasesDeferredTaxLiabilitiesMember_2">Leases deferred tax liabilities [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesDeferredTaxLiabilitiesMember" xlink:to="label_LeasesDeferredTaxLiabilitiesMember_2" xlink:title="Label : LeasesDeferredTaxLiabilitiesMember to label_LeasesDeferredTaxLiabilitiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:label="DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:title="DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember">Debt Fair Value Adjustment Deferred Tax Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:to="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:title="Label : DebtFairValueAdjustmentDeferredTaxLiabilitiesMember to label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_1">Fair value adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:to="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_1" xlink:title="Label : DebtFairValueAdjustmentDeferredTaxLiabilitiesMember to label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_2" xml:lang="en-US" id="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_2">Debt fair value adjustment deferred tax liabilities [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" xlink:to="label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_2" xlink:title="Label : DebtFairValueAdjustmentDeferredTaxLiabilitiesMember to label_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherDeferredTaxLiabilitiesMember" xlink:label="OtherDeferredTaxLiabilitiesMember" xlink:title="OtherDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_OtherDeferredTaxLiabilitiesMember">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDeferredTaxLiabilitiesMember" xlink:to="label_OtherDeferredTaxLiabilitiesMember" xlink:title="Label : OtherDeferredTaxLiabilitiesMember to label_OtherDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_OtherDeferredTaxLiabilitiesMember_1">Other deferred tax liabilities [member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDeferredTaxLiabilitiesMember" xlink:to="label_OtherDeferredTaxLiabilitiesMember_1" xlink:title="Label : OtherDeferredTaxLiabilitiesMember to label_OtherDeferredTaxLiabilitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnregisteredCreditsDeferredTaxLiabilitiesMember" xlink:label="UnregisteredCreditsDeferredTaxLiabilitiesMember" xlink:title="UnregisteredCreditsDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_UnregisteredCreditsDeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnregisteredCreditsDeferredTaxLiabilitiesMember" xml:lang="en-US" id="label_UnregisteredCreditsDeferredTaxLiabilitiesMember">Unregistered credits Deferred Tax Liabilities [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnregisteredCreditsDeferredTaxLiabilitiesMember" xlink:to="label_UnregisteredCreditsDeferredTaxLiabilitiesMember" xlink:title="Label : UnregisteredCreditsDeferredTaxLiabilitiesMember to label_UnregisteredCreditsDeferredTaxLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_1" xml:lang="en-US" id="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_1">Unregistered credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnregisteredCreditsDeferredTaxLiabilitiesMember" xlink:to="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_1" xlink:title="Label : UnregisteredCreditsDeferredTaxLiabilitiesMember to label_UnregisteredCreditsDeferredTaxLiabilitiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_2" xml:lang="en-US" id="label_UnregisteredCreditsDeferredTaxLiabilitiesMember_2">Unregistered credits deferred tax liabilities [member].</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesMember" xlink:label="DeferredTaxLiabilitiesMember" xlink:title="DeferredTaxLiabilitiesMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionAbstract" xlink:to="label_LegalProceedingsProvisionAbstract" xlink:title="Label : LegalProceedingsProvisionAbstract to label_LegalProceedingsProvisionAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfOtherProvisionsTable" xlink:label="DisclosureOfOtherProvisionsTable" xlink:title="DisclosureOfOtherProvisionsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherProvisionsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherProvisionsTable" xml:lang="en-US" id="label_DisclosureOfOtherProvisionsTable">Disclosure of other provisions [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherProvisionsTable" xlink:to="label_DisclosureOfOtherProvisionsTable" xlink:title="Label : DisclosureOfOtherProvisionsTable to label_DisclosureOfOtherProvisionsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherProvisionsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOtherProvisionsTable_1" xml:lang="en-US" id="label_DisclosureOfOtherProvisionsTable_1">Disclosure of other provisions [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherProvisionsTable" xlink:to="label_DisclosureOfOtherProvisionsTable_1" xlink:title="Label : DisclosureOfOtherProvisionsTable to label_DisclosureOfOtherProvisionsTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ClassesOfProvisionsAxis" xlink:title="ClassesOfProvisionsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfProvisionsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfProvisionsAxis" xml:lang="en-US" id="label_ClassesOfProvisionsAxis">Classes of other provisions [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfProvisionsAxis" xlink:to="label_ClassesOfProvisionsAxis" xlink:title="Label : ClassesOfProvisionsAxis to label_ClassesOfProvisionsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfProvisionsAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfProvisionsAxis_1" xml:lang="en-US" id="label_ClassesOfProvisionsAxis_1">Classes of other provisions [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfProvisionsAxis" xlink:to="label_ClassesOfProvisionsAxis_1" xlink:title="Label : ClassesOfProvisionsAxis to label_ClassesOfProvisionsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherProvisionsMember" xlink:label="OtherProvisionsMember" xlink:title="OtherProvisionsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherProvisionsMember" xml:lang="en-US" id="label_OtherProvisionsMember">Other provisions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsMember" xlink:to="label_OtherProvisionsMember" xlink:title="Label : OtherProvisionsMember to label_OtherProvisionsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherProvisionsMember_1" xml:lang="en-US" id="label_OtherProvisionsMember_1">Other provisions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsMember" xlink:to="label_OtherProvisionsMember_1" xlink:title="Label : OtherProvisionsMember to label_OtherProvisionsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsProvisionTaxMember" xlink:label="LegalProceedingsProvisionTaxMember" xlink:title="LegalProceedingsProvisionTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionTaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsProvisionTaxMember" xml:lang="en-US" id="label_LegalProceedingsProvisionTaxMember">Legal Proceedings Provision, Tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionTaxMember" xlink:to="label_LegalProceedingsProvisionTaxMember" xlink:title="Label : LegalProceedingsProvisionTaxMember to label_LegalProceedingsProvisionTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsProvisionTaxMember_1" xml:lang="en-US" id="label_LegalProceedingsProvisionTaxMember_1">Legal proceedings provision, tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionTaxMember" xlink:to="label_LegalProceedingsProvisionTaxMember_1" xlink:title="Label : LegalProceedingsProvisionTaxMember to label_LegalProceedingsProvisionTaxMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionTaxMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsProvisionTaxMember_2" xml:lang="en-US" id="label_LegalProceedingsProvisionTaxMember_2">Legal proceedings provision, tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionTaxMember" xlink:to="label_LegalProceedingsProvisionTaxMember_2" xlink:title="Label : LegalProceedingsProvisionTaxMember to label_LegalProceedingsProvisionTaxMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CivilEnvironmentalAndRegulatoryClaimsMember" xlink:label="CivilEnvironmentalAndRegulatoryClaimsMember" xlink:title="CivilEnvironmentalAndRegulatoryClaimsMember" />
    <link:label xlink:type="resource" xlink:label="label_CivilEnvironmentalAndRegulatoryClaimsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CivilEnvironmentalAndRegulatoryClaimsMember" xml:lang="en-US" id="label_CivilEnvironmentalAndRegulatoryClaimsMember">Civil Environmental And Regulatory Claims [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilEnvironmentalAndRegulatoryClaimsMember" xlink:to="label_CivilEnvironmentalAndRegulatoryClaimsMember" xlink:title="Label : CivilEnvironmentalAndRegulatoryClaimsMember to label_CivilEnvironmentalAndRegulatoryClaimsMember" />
    <link:label xlink:type="resource" xlink:label="label_CivilEnvironmentalAndRegulatoryClaimsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CivilEnvironmentalAndRegulatoryClaimsMember_1" xml:lang="en-US" id="label_CivilEnvironmentalAndRegulatoryClaimsMember_1">Civil, environmental and regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilEnvironmentalAndRegulatoryClaimsMember" xlink:to="label_CivilEnvironmentalAndRegulatoryClaimsMember_1" xlink:title="Label : CivilEnvironmentalAndRegulatoryClaimsMember to label_CivilEnvironmentalAndRegulatoryClaimsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CivilEnvironmentalAndRegulatoryClaimsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CivilEnvironmentalAndRegulatoryClaimsMember_2" xml:lang="en-US" id="label_CivilEnvironmentalAndRegulatoryClaimsMember_2">Civil environmental and regulatory claims.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilEnvironmentalAndRegulatoryClaimsMember" xlink:to="label_CivilEnvironmentalAndRegulatoryClaimsMember_2" xlink:title="Label : CivilEnvironmentalAndRegulatoryClaimsMember to label_CivilEnvironmentalAndRegulatoryClaimsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsProvisionLaborMember" xlink:label="LegalProceedingsProvisionLaborMember" xlink:title="LegalProceedingsProvisionLaborMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionLaborMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsProvisionLaborMember" xml:lang="en-US" id="label_LegalProceedingsProvisionLaborMember">Legal Proceedings Provision, Labor [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionLaborMember" xlink:to="label_LegalProceedingsProvisionLaborMember" xlink:title="Label : LegalProceedingsProvisionLaborMember to label_LegalProceedingsProvisionLaborMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionLaborMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsProvisionLaborMember_1" xml:lang="en-US" id="label_LegalProceedingsProvisionLaborMember_1">Legal proceedings provision, labor [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionLaborMember" xlink:to="label_LegalProceedingsProvisionLaborMember_1" xlink:title="Label : LegalProceedingsProvisionLaborMember to label_LegalProceedingsProvisionLaborMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionLaborMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsProvisionLaborMember_2" xml:lang="en-US" id="label_LegalProceedingsProvisionLaborMember_2">Legal proceedings provision, labor.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionLaborMember" xlink:to="label_LegalProceedingsProvisionLaborMember_2" xlink:title="Label : LegalProceedingsProvisionLaborMember to label_LegalProceedingsProvisionLaborMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:label="DisclosureOfOtherProvisionsLineItems" xlink:title="DisclosureOfOtherProvisionsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherProvisionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOtherProvisionsLineItems" xml:lang="en-US" id="label_DisclosureOfOtherProvisionsLineItems">Disclosure of other provisions [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherProvisionsLineItems" xlink:to="label_DisclosureOfOtherProvisionsLineItems" xlink:title="Label : DisclosureOfOtherProvisionsLineItems to label_DisclosureOfOtherProvisionsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOtherProvisionsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOtherProvisionsLineItems_1" xml:lang="en-US" id="label_DisclosureOfOtherProvisionsLineItems_1">Disclosure of other provisions [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOtherProvisionsLineItems" xlink:to="label_DisclosureOfOtherProvisionsLineItems_1" xlink:title="Label : DisclosureOfOtherProvisionsLineItems to label_DisclosureOfOtherProvisionsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MandatoryJudicialDepositsForLegalProceedings" xlink:label="MandatoryJudicialDepositsForLegalProceedings" xlink:title="MandatoryJudicialDepositsForLegalProceedings" />
    <link:label xlink:type="resource" xlink:label="label_MandatoryJudicialDepositsForLegalProceedings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MandatoryJudicialDepositsForLegalProceedings" xml:lang="en-US" id="label_MandatoryJudicialDepositsForLegalProceedings">Mandatory Judicial Deposits For Legal Proceedings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MandatoryJudicialDepositsForLegalProceedings" xlink:to="label_MandatoryJudicialDepositsForLegalProceedings" xlink:title="Label : MandatoryJudicialDepositsForLegalProceedings to label_MandatoryJudicialDepositsForLegalProceedings" />
    <link:label xlink:type="resource" xlink:label="label_MandatoryJudicialDepositsForLegalProceedings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MandatoryJudicialDepositsForLegalProceedings_1" xml:lang="en-US" id="label_MandatoryJudicialDepositsForLegalProceedings_1">Judicial deposit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MandatoryJudicialDepositsForLegalProceedings" xlink:to="label_MandatoryJudicialDepositsForLegalProceedings_1" xlink:title="Label : MandatoryJudicialDepositsForLegalProceedings to label_MandatoryJudicialDepositsForLegalProceedings_1" />
    <link:label xlink:type="resource" xlink:label="label_MandatoryJudicialDepositsForLegalProceedings_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MandatoryJudicialDepositsForLegalProceedings_2" xml:lang="en-US" id="label_MandatoryJudicialDepositsForLegalProceedings_2">The amount of reserves that is held in deposit at judicial courts for legal proceedings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MandatoryJudicialDepositsForLegalProceedings" xlink:to="label_MandatoryJudicialDepositsForLegalProceedings_2" xlink:title="Label : MandatoryJudicialDepositsForLegalProceedings to label_MandatoryJudicialDepositsForLegalProceedings_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:label="LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:title="LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xml:lang="en-US" id="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember">Legal Proceedings Provision, Civil, Environmental And Regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:to="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:title="Label : LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember to label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_1" xml:lang="en-US" id="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_1">Civil, environmental and regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:to="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_1" xlink:title="Label : LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember to label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_2" xml:lang="en-US" id="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_2">Legal Proceedings Provision, Civil, Environmental And Regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" xlink:to="label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_2" xlink:title="Label : LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember to label_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionalProvisionsOtherProvisions" xlink:label="AdditionalProvisionsOtherProvisions" xlink:title="AdditionalProvisionsOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalProvisionsOtherProvisions" xml:lang="en-US" id="label_AdditionalProvisionsOtherProvisions">Additional provisions, other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalProvisionsOtherProvisions" xlink:to="label_AdditionalProvisionsOtherProvisions" xlink:title="Label : AdditionalProvisionsOtherProvisions to label_AdditionalProvisionsOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalProvisionsOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalProvisionsOtherProvisions_1" xml:lang="en-US" id="label_AdditionalProvisionsOtherProvisions_1">Provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalProvisionsOtherProvisions" xlink:to="label_AdditionalProvisionsOtherProvisions_1" xlink:title="Label : AdditionalProvisionsOtherProvisions to label_AdditionalProvisionsOtherProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:label="UnusedProvisionReversedOtherProvisions" xlink:title="UnusedProvisionReversedOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_UnusedProvisionReversedOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnusedProvisionReversedOtherProvisions" xml:lang="en-US" id="label_UnusedProvisionReversedOtherProvisions">Unused provision reversed, other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusedProvisionReversedOtherProvisions" xlink:to="label_UnusedProvisionReversedOtherProvisions" xlink:title="Label : UnusedProvisionReversedOtherProvisions to label_UnusedProvisionReversedOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_UnusedProvisionReversedOtherProvisions_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_UnusedProvisionReversedOtherProvisions_1" xml:lang="en-US" id="label_UnusedProvisionReversedOtherProvisions_1">Settlement / Write-offs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusedProvisionReversedOtherProvisions" xlink:to="label_UnusedProvisionReversedOtherProvisions_1" xlink:title="Label : UnusedProvisionReversedOtherProvisions to label_UnusedProvisionReversedOtherProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:label="IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:title="IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions">Increase (decrease) through transfers and other changes, other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:to="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:title="Label : IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions to label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_1">Transfers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:to="label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_1" xlink:title="Label : IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions to label_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:title="IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">Increase (decrease) through net exchange differences, other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions to label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_1">Exchange rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:to="label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_1" xlink:title="Label : IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions to label_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughInterestOtherProvisions" xlink:label="IncreaseDecreaseThroughInterestOtherProvisions" xlink:title="IncreaseDecreaseThroughInterestOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughInterestOtherProvisions" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestOtherProvisions">Increase (Decrease) Through Interest Other Provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestOtherProvisions" xlink:to="label_IncreaseDecreaseThroughInterestOtherProvisions" xlink:title="Label : IncreaseDecreaseThroughInterestOtherProvisions to label_IncreaseDecreaseThroughInterestOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughInterestOtherProvisions_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestOtherProvisions_1">The increase (decrease) in other provisions resulting from interest on provisions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestOtherProvisions" xlink:to="label_IncreaseDecreaseThroughInterestOtherProvisions_1" xlink:title="Label : IncreaseDecreaseThroughInterestOtherProvisions to label_IncreaseDecreaseThroughInterestOtherProvisions_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestOtherProvisions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughInterestOtherProvisions_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestOtherProvisions_2">Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestOtherProvisions" xlink:to="label_IncreaseDecreaseThroughInterestOtherProvisions_2" xlink:title="Label : IncreaseDecreaseThroughInterestOtherProvisions to label_IncreaseDecreaseThroughInterestOtherProvisions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:label="IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:title="IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions">Increase Decrease Through Interest And Exchange Variation Other Provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:to="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:title="Label : IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions to label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_1">Interest and exchange variation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:to="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_1" xlink:title="Label : IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions to label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_2">Increase (decrease) through interest and exchange variation, other provisions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" xlink:to="label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_2" xlink:title="Label : IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions to label_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompensationWithFINSOCIALMember" xlink:label="CompensationWithFINSOCIALMember" xlink:title="CompensationWithFINSOCIALMember" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithFINSOCIALMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompensationWithFINSOCIALMember" xml:lang="en-US" id="label_CompensationWithFINSOCIALMember">Compensation with FINSOCIAL [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithFINSOCIALMember" xlink:to="label_CompensationWithFINSOCIALMember" xlink:title="Label : CompensationWithFINSOCIALMember to label_CompensationWithFINSOCIALMember" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithFINSOCIALMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompensationWithFINSOCIALMember_1" xml:lang="en-US" id="label_CompensationWithFINSOCIALMember_1">Compensation with FINSOCIAL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithFINSOCIALMember" xlink:to="label_CompensationWithFINSOCIALMember_1" xlink:title="Label : CompensationWithFINSOCIALMember to label_CompensationWithFINSOCIALMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithFINSOCIALMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompensationWithFINSOCIALMember_2" xml:lang="en-US" id="label_CompensationWithFINSOCIALMember_2">Compensation with FINSOCIAL [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithFINSOCIALMember" xlink:to="label_CompensationWithFINSOCIALMember_2" xlink:title="Label : CompensationWithFINSOCIALMember to label_CompensationWithFINSOCIALMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InssSocialSecurityContributionsMember" xlink:label="InssSocialSecurityContributionsMember" xlink:title="InssSocialSecurityContributionsMember" />
    <link:label xlink:type="resource" xlink:label="label_InssSocialSecurityContributionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InssSocialSecurityContributionsMember" xml:lang="en-US" id="label_InssSocialSecurityContributionsMember">INSS - Social security contributions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InssSocialSecurityContributionsMember" xlink:to="label_InssSocialSecurityContributionsMember" xlink:title="Label : InssSocialSecurityContributionsMember to label_InssSocialSecurityContributionsMember" />
    <link:label xlink:type="resource" xlink:label="label_InssSocialSecurityContributionsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InssSocialSecurityContributionsMember_1" xml:lang="en-US" id="label_InssSocialSecurityContributionsMember_1">INSS - Social security [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InssSocialSecurityContributionsMember" xlink:to="label_InssSocialSecurityContributionsMember_1" xlink:title="Label : InssSocialSecurityContributionsMember to label_InssSocialSecurityContributionsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InssSocialSecurityContributionsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InssSocialSecurityContributionsMember_2" xml:lang="en-US" id="label_InssSocialSecurityContributionsMember_2">INSS - Social security contributions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InssSocialSecurityContributionsMember" xlink:to="label_InssSocialSecurityContributionsMember_2" xlink:title="Label : InssSocialSecurityContributionsMember to label_InssSocialSecurityContributionsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StateVatIcmsCreditsMember" xlink:label="StateVatIcmsCreditsMember" xlink:title="StateVatIcmsCreditsMember" />
    <link:label xlink:type="resource" xlink:label="label_StateVatIcmsCreditsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StateVatIcmsCreditsMember" xml:lang="en-US" id="label_StateVatIcmsCreditsMember">State VAT - ICMS credits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateVatIcmsCreditsMember" xlink:to="label_StateVatIcmsCreditsMember" xlink:title="Label : StateVatIcmsCreditsMember to label_StateVatIcmsCreditsMember" />
    <link:label xlink:type="resource" xlink:label="label_StateVatIcmsCreditsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StateVatIcmsCreditsMember_1" xml:lang="en-US" id="label_StateVatIcmsCreditsMember_1">State VAT - ICMS credits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateVatIcmsCreditsMember" xlink:to="label_StateVatIcmsCreditsMember_1" xlink:title="Label : StateVatIcmsCreditsMember to label_StateVatIcmsCreditsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_StateVatIcmsCreditsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StateVatIcmsCreditsMember_2" xml:lang="en-US" id="label_StateVatIcmsCreditsMember_2">State VAT - ICMS credits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateVatIcmsCreditsMember" xlink:to="label_StateVatIcmsCreditsMember_2" xlink:title="Label : StateVatIcmsCreditsMember to label_StateVatIcmsCreditsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IpiExciseTaxCreditNtMember" xlink:label="IpiExciseTaxCreditNtMember" xlink:title="IpiExciseTaxCreditNtMember" />
    <link:label xlink:type="resource" xlink:label="label_IpiExciseTaxCreditNtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IpiExciseTaxCreditNtMember" xml:lang="en-US" id="label_IpiExciseTaxCreditNtMember">IPI - Excise tax credit - NT [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IpiExciseTaxCreditNtMember" xlink:to="label_IpiExciseTaxCreditNtMember" xlink:title="Label : IpiExciseTaxCreditNtMember to label_IpiExciseTaxCreditNtMember" />
    <link:label xlink:type="resource" xlink:label="label_IpiExciseTaxCreditNtMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IpiExciseTaxCreditNtMember_1" xml:lang="en-US" id="label_IpiExciseTaxCreditNtMember_1">IPI - Excise tax credit - NT [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IpiExciseTaxCreditNtMember" xlink:to="label_IpiExciseTaxCreditNtMember_1" xlink:title="Label : IpiExciseTaxCreditNtMember to label_IpiExciseTaxCreditNtMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IpiExciseTaxCreditNtMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IpiExciseTaxCreditNtMember_2" xml:lang="en-US" id="label_IpiExciseTaxCreditNtMember_2">IPI - Excise tax credit - NT.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IpiExciseTaxCreditNtMember" xlink:to="label_IpiExciseTaxCreditNtMember_2" xlink:title="Label : IpiExciseTaxCreditNtMember to label_IpiExciseTaxCreditNtMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FederalIncomeTaxesMember" xlink:label="FederalIncomeTaxesMember" xlink:title="FederalIncomeTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_FederalIncomeTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FederalIncomeTaxesMember" xml:lang="en-US" id="label_FederalIncomeTaxesMember">Federal income taxes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalIncomeTaxesMember" xlink:to="label_FederalIncomeTaxesMember" xlink:title="Label : FederalIncomeTaxesMember to label_FederalIncomeTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_FederalIncomeTaxesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FederalIncomeTaxesMember_1" xml:lang="en-US" id="label_FederalIncomeTaxesMember_1">Federal income taxes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalIncomeTaxesMember" xlink:to="label_FederalIncomeTaxesMember_1" xlink:title="Label : FederalIncomeTaxesMember to label_FederalIncomeTaxesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FederalIncomeTaxesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FederalIncomeTaxesMember_2" xml:lang="en-US" id="label_FederalIncomeTaxesMember_2">Federal income taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalIncomeTaxesMember" xlink:to="label_FederalIncomeTaxesMember_2" xlink:title="Label : FederalIncomeTaxesMember to label_FederalIncomeTaxesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherClaimsMember" xlink:label="OtherClaimsMember" xlink:title="OtherClaimsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherClaimsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherClaimsMember" xml:lang="en-US" id="label_OtherClaimsMember">Other claims [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherClaimsMember" xlink:to="label_OtherClaimsMember" xlink:title="Label : OtherClaimsMember to label_OtherClaimsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherClaimsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherClaimsMember_1" xml:lang="en-US" id="label_OtherClaimsMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherClaimsMember" xlink:to="label_OtherClaimsMember_1" xlink:title="Label : OtherClaimsMember to label_OtherClaimsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherClaimsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherClaimsMember_2" xml:lang="en-US" id="label_OtherClaimsMember_2">Other claims.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherClaimsMember" xlink:to="label_OtherClaimsMember_2" xlink:title="Label : OtherClaimsMember to label_OtherClaimsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LegalProceedingsProvisionMember" xlink:label="LegalProceedingsProvisionMember" xlink:title="LegalProceedingsProvisionMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsProvisionMember" xml:lang="en-US" id="label_LegalProceedingsProvisionMember">Legal proceedings provision [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionMember" xlink:to="label_LegalProceedingsProvisionMember" xlink:title="Label : LegalProceedingsProvisionMember to label_LegalProceedingsProvisionMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsProvisionMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsProvisionMember_1" xml:lang="en-US" id="label_LegalProceedingsProvisionMember_1">Legal proceedings provision [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsProvisionMember" xlink:to="label_LegalProceedingsProvisionMember_1" xlink:title="Label : LegalProceedingsProvisionMember to label_LegalProceedingsProvisionMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CivilEnvironmentalAndRegulatoryMember" xlink:label="CivilEnvironmentalAndRegulatoryMember" xlink:title="CivilEnvironmentalAndRegulatoryMember" />
    <link:label xlink:type="resource" xlink:label="label_CivilEnvironmentalAndRegulatoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CivilEnvironmentalAndRegulatoryMember" xml:lang="en-US" id="label_CivilEnvironmentalAndRegulatoryMember">Civil Environmental And Regulatory [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilEnvironmentalAndRegulatoryMember" xlink:to="label_CivilEnvironmentalAndRegulatoryMember" xlink:title="Label : CivilEnvironmentalAndRegulatoryMember to label_CivilEnvironmentalAndRegulatoryMember" />
    <link:label xlink:type="resource" xlink:label="label_CivilEnvironmentalAndRegulatoryMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CivilEnvironmentalAndRegulatoryMember_1" xml:lang="en-US" id="label_CivilEnvironmentalAndRegulatoryMember_1">Civil, environmental and regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilEnvironmentalAndRegulatoryMember" xlink:to="label_CivilEnvironmentalAndRegulatoryMember_1" xlink:title="Label : CivilEnvironmentalAndRegulatoryMember to label_CivilEnvironmentalAndRegulatoryMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CivilEnvironmentalAndRegulatoryMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CivilEnvironmentalAndRegulatoryMember_2" xml:lang="en-US" id="label_CivilEnvironmentalAndRegulatoryMember_2">Civil, environmental and regulatory [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilEnvironmentalAndRegulatoryMember" xlink:to="label_CivilEnvironmentalAndRegulatoryMember_2" xlink:title="Label : CivilEnvironmentalAndRegulatoryMember to label_CivilEnvironmentalAndRegulatoryMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonHomologationOfOffsettingOfTaxCreditMember" xlink:label="NonHomologationOfOffsettingOfTaxCreditMember" xlink:title="NonHomologationOfOffsettingOfTaxCreditMember" />
    <link:label xlink:type="resource" xlink:label="label_NonHomologationOfOffsettingOfTaxCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonHomologationOfOffsettingOfTaxCreditMember" xml:lang="en-US" id="label_NonHomologationOfOffsettingOfTaxCreditMember">Non homologation of offsetting of tax credit [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonHomologationOfOffsettingOfTaxCreditMember" xlink:to="label_NonHomologationOfOffsettingOfTaxCreditMember" xlink:title="Label : NonHomologationOfOffsettingOfTaxCreditMember to label_NonHomologationOfOffsettingOfTaxCreditMember" />
    <link:label xlink:type="resource" xlink:label="label_NonHomologationOfOffsettingOfTaxCreditMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonHomologationOfOffsettingOfTaxCreditMember_1" xml:lang="en-US" id="label_NonHomologationOfOffsettingOfTaxCreditMember_1">Non homologation of compensations [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonHomologationOfOffsettingOfTaxCreditMember" xlink:to="label_NonHomologationOfOffsettingOfTaxCreditMember_1" xlink:title="Label : NonHomologationOfOffsettingOfTaxCreditMember to label_NonHomologationOfOffsettingOfTaxCreditMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NonHomologationOfOffsettingOfTaxCreditMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonHomologationOfOffsettingOfTaxCreditMember_2" xml:lang="en-US" id="label_NonHomologationOfOffsettingOfTaxCreditMember_2">Non homologation of offsetting of tax credit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonHomologationOfOffsettingOfTaxCreditMember" xlink:to="label_NonHomologationOfOffsettingOfTaxCreditMember_2" xlink:title="Label : NonHomologationOfOffsettingOfTaxCreditMember to label_NonHomologationOfOffsettingOfTaxCreditMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompensationWithFinsocialMember" xlink:label="CompensationWithFinsocialMember" xlink:title="CompensationWithFinsocialMember" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithFinsocialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompensationWithFinsocialMember" xml:lang="en-US" id="label_CompensationWithFinsocialMember">Compensation with FINSOCIAL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithFinsocialMember" xlink:to="label_CompensationWithFinsocialMember" xlink:title="Label : CompensationWithFinsocialMember to label_CompensationWithFinsocialMember" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithFinsocialMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompensationWithFinsocialMember_1" xml:lang="en-US" id="label_CompensationWithFinsocialMember_1">Compensation with FINSOCIAL [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithFinsocialMember" xlink:to="label_CompensationWithFinsocialMember_1" xlink:title="Label : CompensationWithFinsocialMember to label_CompensationWithFinsocialMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithFinsocialMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompensationWithFinsocialMember_2" xml:lang="en-US" id="label_CompensationWithFinsocialMember_2">Compensation with FINSOCIAL [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithFinsocialMember" xlink:to="label_CompensationWithFinsocialMember_2" xlink:title="Label : CompensationWithFinsocialMember to label_CompensationWithFinsocialMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FederalAndProvincialIncomeTaxRate" xlink:label="FederalAndProvincialIncomeTaxRate" xlink:title="FederalAndProvincialIncomeTaxRate" />
    <link:label xlink:type="resource" xlink:label="label_FederalAndProvincialIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FederalAndProvincialIncomeTaxRate" xml:lang="en-US" id="label_FederalAndProvincialIncomeTaxRate">Federal and provincial income tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalAndProvincialIncomeTaxRate" xlink:to="label_FederalAndProvincialIncomeTaxRate" xlink:title="Label : FederalAndProvincialIncomeTaxRate to label_FederalAndProvincialIncomeTaxRate" />
    <link:label xlink:type="resource" xlink:label="label_FederalAndProvincialIncomeTaxRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FederalAndProvincialIncomeTaxRate_1" xml:lang="en-US" id="label_FederalAndProvincialIncomeTaxRate_1">Federal income taxes isolated fine rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalAndProvincialIncomeTaxRate" xlink:to="label_FederalAndProvincialIncomeTaxRate_1" xlink:title="Label : FederalAndProvincialIncomeTaxRate to label_FederalAndProvincialIncomeTaxRate_1" />
    <link:label xlink:type="resource" xlink:label="label_FederalAndProvincialIncomeTaxRate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FederalAndProvincialIncomeTaxRate_2" xml:lang="en-US" id="label_FederalAndProvincialIncomeTaxRate_2">Federal and provincial income tax rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FederalAndProvincialIncomeTaxRate" xlink:to="label_FederalAndProvincialIncomeTaxRate_2" xlink:title="Label : FederalAndProvincialIncomeTaxRate to label_FederalAndProvincialIncomeTaxRate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IsolatedFineRateOfAcquiredAssets" xlink:label="IsolatedFineRateOfAcquiredAssets" xlink:title="IsolatedFineRateOfAcquiredAssets" />
    <link:label xlink:type="resource" xlink:label="label_IsolatedFineRateOfAcquiredAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IsolatedFineRateOfAcquiredAssets" xml:lang="en-US" id="label_IsolatedFineRateOfAcquiredAssets">Isolated fine rate of acquired assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IsolatedFineRateOfAcquiredAssets" xlink:to="label_IsolatedFineRateOfAcquiredAssets" xlink:title="Label : IsolatedFineRateOfAcquiredAssets to label_IsolatedFineRateOfAcquiredAssets" />
    <link:label xlink:type="resource" xlink:label="label_IsolatedFineRateOfAcquiredAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IsolatedFineRateOfAcquiredAssets_1" xml:lang="en-US" id="label_IsolatedFineRateOfAcquiredAssets_1">Isolated fine rate of acquired assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IsolatedFineRateOfAcquiredAssets" xlink:to="label_IsolatedFineRateOfAcquiredAssets_1" xlink:title="Label : IsolatedFineRateOfAcquiredAssets to label_IsolatedFineRateOfAcquiredAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_IsolatedFineRateOfAcquiredAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IsolatedFineRateOfAcquiredAssets_2" xml:lang="en-US" id="label_IsolatedFineRateOfAcquiredAssets_2">Isolated fine rate of acquired assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IsolatedFineRateOfAcquiredAssets" xlink:to="label_IsolatedFineRateOfAcquiredAssets_2" xlink:title="Label : IsolatedFineRateOfAcquiredAssets to label_IsolatedFineRateOfAcquiredAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SocialSecurityPercentage" xlink:label="SocialSecurityPercentage" xlink:title="SocialSecurityPercentage" />
    <link:label xlink:type="resource" xlink:label="label_SocialSecurityPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SocialSecurityPercentage" xml:lang="en-US" id="label_SocialSecurityPercentage">Social security percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SocialSecurityPercentage" xlink:to="label_SocialSecurityPercentage" xlink:title="Label : SocialSecurityPercentage to label_SocialSecurityPercentage" />
    <link:label xlink:type="resource" xlink:label="label_SocialSecurityPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SocialSecurityPercentage_1" xml:lang="en-US" id="label_SocialSecurityPercentage_1">Social security contributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SocialSecurityPercentage" xlink:to="label_SocialSecurityPercentage_1" xlink:title="Label : SocialSecurityPercentage to label_SocialSecurityPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_SocialSecurityPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SocialSecurityPercentage_2" xml:lang="en-US" id="label_SocialSecurityPercentage_2">Social security percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SocialSecurityPercentage" xlink:to="label_SocialSecurityPercentage_2" xlink:title="Label : SocialSecurityPercentage to label_SocialSecurityPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompensationForMoralDamages" xlink:label="CompensationForMoralDamages" xlink:title="CompensationForMoralDamages" />
    <link:label xlink:type="resource" xlink:label="label_CompensationForMoralDamages" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompensationForMoralDamages" xml:lang="en-US" id="label_CompensationForMoralDamages">Compensation for moral damages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationForMoralDamages" xlink:to="label_CompensationForMoralDamages" xlink:title="Label : CompensationForMoralDamages to label_CompensationForMoralDamages" />
    <link:label xlink:type="resource" xlink:label="label_CompensationForMoralDamages_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompensationForMoralDamages_1" xml:lang="en-US" id="label_CompensationForMoralDamages_1">Collective moral damages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationForMoralDamages" xlink:to="label_CompensationForMoralDamages_1" xlink:title="Label : CompensationForMoralDamages to label_CompensationForMoralDamages_1" />
    <link:label xlink:type="resource" xlink:label="label_CompensationForMoralDamages_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompensationForMoralDamages_2" xml:lang="en-US" id="label_CompensationForMoralDamages_2">Compensation for moral damages.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationForMoralDamages" xlink:to="label_CompensationForMoralDamages_2" xlink:title="Label : CompensationForMoralDamages to label_CompensationForMoralDamages_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NewProvisionsOtherProvisions" xlink:label="NewProvisionsOtherProvisions" xlink:title="NewProvisionsOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_NewProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewProvisionsOtherProvisions" xml:lang="en-US" id="label_NewProvisionsOtherProvisions">New provisions, other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewProvisionsOtherProvisions" xlink:to="label_NewProvisionsOtherProvisions" xlink:title="Label : NewProvisionsOtherProvisions to label_NewProvisionsOtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_NewProvisionsOtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewProvisionsOtherProvisions_1" xml:lang="en-US" id="label_NewProvisionsOtherProvisions_1">New provisions, other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewProvisionsOtherProvisions" xlink:to="label_NewProvisionsOtherProvisions_1" xlink:title="Label : NewProvisionsOtherProvisions to label_NewProvisionsOtherProvisions_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MandatoryJudicialDepositsForLegalProceeding" xlink:label="MandatoryJudicialDepositsForLegalProceeding" xlink:title="MandatoryJudicialDepositsForLegalProceeding" />
    <link:label xlink:type="resource" xlink:label="label_MandatoryJudicialDepositsForLegalProceeding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MandatoryJudicialDepositsForLegalProceeding" xml:lang="en-US" id="label_MandatoryJudicialDepositsForLegalProceeding">Mandatory Judicial Deposits For Legal Proceeding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MandatoryJudicialDepositsForLegalProceeding" xlink:to="label_MandatoryJudicialDepositsForLegalProceeding" xlink:title="Label : MandatoryJudicialDepositsForLegalProceeding to label_MandatoryJudicialDepositsForLegalProceeding" />
    <link:label xlink:type="resource" xlink:label="label_MandatoryJudicialDepositsForLegalProceeding_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MandatoryJudicialDepositsForLegalProceeding_1" xml:lang="en-US" id="label_MandatoryJudicialDepositsForLegalProceeding_1">Judicial deposit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MandatoryJudicialDepositsForLegalProceeding" xlink:to="label_MandatoryJudicialDepositsForLegalProceeding_1" xlink:title="Label : MandatoryJudicialDepositsForLegalProceeding to label_MandatoryJudicialDepositsForLegalProceeding_1" />
    <link:label xlink:type="resource" xlink:label="label_MandatoryJudicialDepositsForLegalProceeding_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MandatoryJudicialDepositsForLegalProceeding_2" xml:lang="en-US" id="label_MandatoryJudicialDepositsForLegalProceeding_2">The amount of reserves that is held in deposit at judicial courts for legal proceedings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MandatoryJudicialDepositsForLegalProceeding" xlink:to="label_MandatoryJudicialDepositsForLegalProceeding_2" xlink:title="Label : MandatoryJudicialDepositsForLegalProceeding to label_MandatoryJudicialDepositsForLegalProceeding_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfContingentLiabilitiesTable" xlink:label="DisclosureOfContingentLiabilitiesTable" xlink:title="DisclosureOfContingentLiabilitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfContingentLiabilitiesTable" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesTable">Disclosure of contingent liabilities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesTable" xlink:to="label_DisclosureOfContingentLiabilitiesTable" xlink:title="Label : DisclosureOfContingentLiabilitiesTable to label_DisclosureOfContingentLiabilitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfContingentLiabilitiesTable_1" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesTable_1">Disclosure of contingent liabilities [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesTable" xlink:to="label_DisclosureOfContingentLiabilitiesTable_1" xlink:title="Label : DisclosureOfContingentLiabilitiesTable to label_DisclosureOfContingentLiabilitiesTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ClassesOfContingentLiabilitiesAxis" xlink:title="ClassesOfContingentLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfContingentLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfContingentLiabilitiesAxis" xml:lang="en-US" id="label_ClassesOfContingentLiabilitiesAxis">Classes of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfContingentLiabilitiesAxis" xlink:to="label_ClassesOfContingentLiabilitiesAxis" xlink:title="Label : ClassesOfContingentLiabilitiesAxis to label_ClassesOfContingentLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfContingentLiabilitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ClassesOfContingentLiabilitiesAxis_1" xml:lang="en-US" id="label_ClassesOfContingentLiabilitiesAxis_1">Classes of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfContingentLiabilitiesAxis" xlink:to="label_ClassesOfContingentLiabilitiesAxis_1" xlink:title="Label : ClassesOfContingentLiabilitiesAxis to label_ClassesOfContingentLiabilitiesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ContingentLiabilitiesMember" xlink:title="ContingentLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_ContingentLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentLiabilitiesMember" xml:lang="en-US" id="label_ContingentLiabilitiesMember">Contingent liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentLiabilitiesMember" xlink:to="label_ContingentLiabilitiesMember" xlink:title="Label : ContingentLiabilitiesMember to label_ContingentLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_ContingentLiabilitiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentLiabilitiesMember_1" xml:lang="en-US" id="label_ContingentLiabilitiesMember_1">Contingent liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentLiabilitiesMember" xlink:to="label_ContingentLiabilitiesMember_1" xlink:title="Label : ContingentLiabilitiesMember to label_ContingentLiabilitiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsContingentLiabilityTaxMember" xlink:label="LegalProceedingsContingentLiabilityTaxMember" xlink:title="LegalProceedingsContingentLiabilityTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityTaxMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsContingentLiabilityTaxMember" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityTaxMember">The member stands for legal proceedings contingent liability, tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityTaxMember" xlink:to="label_LegalProceedingsContingentLiabilityTaxMember" xlink:title="Label : LegalProceedingsContingentLiabilityTaxMember to label_LegalProceedingsContingentLiabilityTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsContingentLiabilityTaxMember_1" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityTaxMember_1">Legal Proceedings Contingent Liability, Tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityTaxMember" xlink:to="label_LegalProceedingsContingentLiabilityTaxMember_1" xlink:title="Label : LegalProceedingsContingentLiabilityTaxMember to label_LegalProceedingsContingentLiabilityTaxMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityTaxMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsContingentLiabilityTaxMember_2" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityTaxMember_2">Legal Proceedings Contingent Liability, Tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityTaxMember" xlink:to="label_LegalProceedingsContingentLiabilityTaxMember_2" xlink:title="Label : LegalProceedingsContingentLiabilityTaxMember to label_LegalProceedingsContingentLiabilityTaxMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CategoriesOfContingentLiabilitiesAxis" xlink:label="CategoriesOfContingentLiabilitiesAxis" xlink:title="CategoriesOfContingentLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfContingentLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CategoriesOfContingentLiabilitiesAxis" xml:lang="en-US" id="label_CategoriesOfContingentLiabilitiesAxis">Categories of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfContingentLiabilitiesAxis" xlink:to="label_CategoriesOfContingentLiabilitiesAxis" xlink:title="Label : CategoriesOfContingentLiabilitiesAxis to label_CategoriesOfContingentLiabilitiesAxis" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfContingentLiabilitiesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CategoriesOfContingentLiabilitiesAxis_1" xml:lang="en-US" id="label_CategoriesOfContingentLiabilitiesAxis_1">Categories of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfContingentLiabilitiesAxis" xlink:to="label_CategoriesOfContingentLiabilitiesAxis_1" xlink:title="Label : CategoriesOfContingentLiabilitiesAxis to label_CategoriesOfContingentLiabilitiesAxis_1" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfContingentLiabilitiesAxis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CategoriesOfContingentLiabilitiesAxis_2" xml:lang="en-US" id="label_CategoriesOfContingentLiabilitiesAxis_2">Categories of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfContingentLiabilitiesAxis" xlink:to="label_CategoriesOfContingentLiabilitiesAxis_2" xlink:title="Label : CategoriesOfContingentLiabilitiesAxis to label_CategoriesOfContingentLiabilitiesAxis_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CategoriesOfContingentLiabilitiesDomain" xlink:label="CategoriesOfContingentLiabilitiesDomain" xlink:title="CategoriesOfContingentLiabilitiesDomain" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfContingentLiabilitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CategoriesOfContingentLiabilitiesDomain" xml:lang="en-US" id="label_CategoriesOfContingentLiabilitiesDomain">Categories of contingent liabilities [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfContingentLiabilitiesDomain" xlink:to="label_CategoriesOfContingentLiabilitiesDomain" xlink:title="Label : CategoriesOfContingentLiabilitiesDomain to label_CategoriesOfContingentLiabilitiesDomain" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfContingentLiabilitiesDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CategoriesOfContingentLiabilitiesDomain_1" xml:lang="en-US" id="label_CategoriesOfContingentLiabilitiesDomain_1">Categories of contingent liabilities [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfContingentLiabilitiesDomain" xlink:to="label_CategoriesOfContingentLiabilitiesDomain_1" xlink:title="Label : CategoriesOfContingentLiabilitiesDomain to label_CategoriesOfContingentLiabilitiesDomain_1" />
    <link:label xlink:type="resource" xlink:label="label_CategoriesOfContingentLiabilitiesDomain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CategoriesOfContingentLiabilitiesDomain_2" xml:lang="en-US" id="label_CategoriesOfContingentLiabilitiesDomain_2">Categories of contingent liabilities [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CategoriesOfContingentLiabilitiesDomain" xlink:to="label_CategoriesOfContingentLiabilitiesDomain_2" xlink:title="Label : CategoriesOfContingentLiabilitiesDomain to label_CategoriesOfContingentLiabilitiesDomain_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:label="LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:title="LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember">Legal Proceedings Contingent Liability, Civil, Regulatory And Environmental [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:to="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:title="Label : LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember to label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_1" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_1">Legal proceedings contingent liability, civil, regulatory and environmental [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:to="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_1" xlink:title="Label : LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember to label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_2" xml:lang="en-US" id="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_2">Legal Proceedings Contingent Liability, Civil, Regulatory And Environmental [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" xlink:to="label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_2" xlink:title="Label : LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember to label_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LitigationCase1Axis" xlink:label="LitigationCase1Axis" xlink:title="LitigationCase1Axis" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCase1Axis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LitigationCase1Axis" xml:lang="en-US" id="label_LitigationCase1Axis">Litigation case 1 [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCase1Axis" xlink:to="label_LitigationCase1Axis" xlink:title="Label : LitigationCase1Axis to label_LitigationCase1Axis" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCase1Axis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LitigationCase1Axis_1" xml:lang="en-US" id="label_LitigationCase1Axis_1">Litigation case 1 [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCase1Axis" xlink:to="label_LitigationCase1Axis_1" xlink:title="Label : LitigationCase1Axis to label_LitigationCase1Axis_1" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCase1Axis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LitigationCase1Axis_2" xml:lang="en-US" id="label_LitigationCase1Axis_2">Litigation case 1.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCase1Axis" xlink:to="label_LitigationCase1Axis_2" xlink:title="Label : LitigationCase1Axis to label_LitigationCase1Axis_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LitigationCase1Member" xlink:label="LitigationCase1Member" xlink:title="LitigationCase1Member" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCase1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LitigationCase1Member" xml:lang="en-US" id="label_LitigationCase1Member">Litigation Case1 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCase1Member" xlink:to="label_LitigationCase1Member" xlink:title="Label : LitigationCase1Member to label_LitigationCase1Member" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCase1Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LitigationCase1Member_1" xml:lang="en-US" id="label_LitigationCase1Member_1">Litigation Case1 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCase1Member" xlink:to="label_LitigationCase1Member_1" xlink:title="Label : LitigationCase1Member to label_LitigationCase1Member_1" />
    <link:label xlink:type="resource" xlink:label="label_LitigationCase1Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LitigationCase1Member_2" xml:lang="en-US" id="label_LitigationCase1Member_2">Litigation Case1 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LitigationCase1Member" xlink:to="label_LitigationCase1Member_2" xlink:title="Label : LitigationCase1Member to label_LitigationCase1Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PisAndCofinsRevenueTaxesMember" xlink:label="PisAndCofinsRevenueTaxesMember" xlink:title="PisAndCofinsRevenueTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_PisAndCofinsRevenueTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PisAndCofinsRevenueTaxesMember" xml:lang="en-US" id="label_PisAndCofinsRevenueTaxesMember">PIS and COFINS - Revenue taxes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PisAndCofinsRevenueTaxesMember" xlink:to="label_PisAndCofinsRevenueTaxesMember" xlink:title="Label : PisAndCofinsRevenueTaxesMember to label_PisAndCofinsRevenueTaxesMember" />
    <link:label xlink:type="resource" xlink:label="label_PisAndCofinsRevenueTaxesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PisAndCofinsRevenueTaxesMember_1" xml:lang="en-US" id="label_PisAndCofinsRevenueTaxesMember_1">PIS and COFINS - Revenue taxes [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PisAndCofinsRevenueTaxesMember" xlink:to="label_PisAndCofinsRevenueTaxesMember_1" xlink:title="Label : PisAndCofinsRevenueTaxesMember to label_PisAndCofinsRevenueTaxesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PisAndCofinsRevenueTaxesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PisAndCofinsRevenueTaxesMember_2" xml:lang="en-US" id="label_PisAndCofinsRevenueTaxesMember_2">PIS and COFINS - Revenue taxes.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PisAndCofinsRevenueTaxesMember" xlink:to="label_PisAndCofinsRevenueTaxesMember_2" xlink:title="Label : PisAndCofinsRevenueTaxesMember to label_PisAndCofinsRevenueTaxesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IrrfWithholdingTaxMember" xlink:label="IrrfWithholdingTaxMember" xlink:title="IrrfWithholdingTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_IrrfWithholdingTaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IrrfWithholdingTaxMember" xml:lang="en-US" id="label_IrrfWithholdingTaxMember">IRRF - Withholding tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IrrfWithholdingTaxMember" xlink:to="label_IrrfWithholdingTaxMember" xlink:title="Label : IrrfWithholdingTaxMember to label_IrrfWithholdingTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_IrrfWithholdingTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IrrfWithholdingTaxMember_1" xml:lang="en-US" id="label_IrrfWithholdingTaxMember_1">IRRF - Withholding tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IrrfWithholdingTaxMember" xlink:to="label_IrrfWithholdingTaxMember_1" xlink:title="Label : IrrfWithholdingTaxMember to label_IrrfWithholdingTaxMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IrrfWithholdingTaxMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IrrfWithholdingTaxMember_2" xml:lang="en-US" id="label_IrrfWithholdingTaxMember_2">IRRF - withholding tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IrrfWithholdingTaxMember" xlink:to="label_IrrfWithholdingTaxMember_2" xlink:title="Label : IrrfWithholdingTaxMember to label_IrrfWithholdingTaxMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PenaltiesRelatedToTaxPositionsMember" xlink:label="PenaltiesRelatedToTaxPositionsMember" xlink:title="PenaltiesRelatedToTaxPositionsMember" />
    <link:label xlink:type="resource" xlink:label="label_PenaltiesRelatedToTaxPositionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PenaltiesRelatedToTaxPositionsMember" xml:lang="en-US" id="label_PenaltiesRelatedToTaxPositionsMember">Penalties related to tax positions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PenaltiesRelatedToTaxPositionsMember" xlink:to="label_PenaltiesRelatedToTaxPositionsMember" xlink:title="Label : PenaltiesRelatedToTaxPositionsMember to label_PenaltiesRelatedToTaxPositionsMember" />
    <link:label xlink:type="resource" xlink:label="label_PenaltiesRelatedToTaxPositionsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PenaltiesRelatedToTaxPositionsMember_1" xml:lang="en-US" id="label_PenaltiesRelatedToTaxPositionsMember_1">Penalties related to tax positions [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PenaltiesRelatedToTaxPositionsMember" xlink:to="label_PenaltiesRelatedToTaxPositionsMember_1" xlink:title="Label : PenaltiesRelatedToTaxPositionsMember to label_PenaltiesRelatedToTaxPositionsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PenaltiesRelatedToTaxPositionsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PenaltiesRelatedToTaxPositionsMember_2" xml:lang="en-US" id="label_PenaltiesRelatedToTaxPositionsMember_2">Penalties related to tax positions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PenaltiesRelatedToTaxPositionsMember" xlink:to="label_PenaltiesRelatedToTaxPositionsMember_2" xlink:title="Label : PenaltiesRelatedToTaxPositionsMember to label_PenaltiesRelatedToTaxPositionsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Mp470TaxInstallmentsMember" xlink:label="Mp470TaxInstallmentsMember" xlink:title="Mp470TaxInstallmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_Mp470TaxInstallmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Mp470TaxInstallmentsMember" xml:lang="en-US" id="label_Mp470TaxInstallmentsMember">MP 470 - Tax installments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mp470TaxInstallmentsMember" xlink:to="label_Mp470TaxInstallmentsMember" xlink:title="Label : Mp470TaxInstallmentsMember to label_Mp470TaxInstallmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_Mp470TaxInstallmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Mp470TaxInstallmentsMember_1" xml:lang="en-US" id="label_Mp470TaxInstallmentsMember_1">MP 470 - Tax installments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mp470TaxInstallmentsMember" xlink:to="label_Mp470TaxInstallmentsMember_1" xlink:title="Label : Mp470TaxInstallmentsMember to label_Mp470TaxInstallmentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Mp470TaxInstallmentsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Mp470TaxInstallmentsMember_2" xml:lang="en-US" id="label_Mp470TaxInstallmentsMember_2">MP 470 - Tax installments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Mp470TaxInstallmentsMember" xlink:to="label_Mp470TaxInstallmentsMember_2" xlink:title="Label : Mp470TaxInstallmentsMember to label_Mp470TaxInstallmentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InssSocialSecurityAndOtherMember" xlink:label="InssSocialSecurityAndOtherMember" xlink:title="InssSocialSecurityAndOtherMember" />
    <link:label xlink:type="resource" xlink:label="label_InssSocialSecurityAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InssSocialSecurityAndOtherMember" xml:lang="en-US" id="label_InssSocialSecurityAndOtherMember">INSS - Social security and other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InssSocialSecurityAndOtherMember" xlink:to="label_InssSocialSecurityAndOtherMember" xlink:title="Label : InssSocialSecurityAndOtherMember to label_InssSocialSecurityAndOtherMember" />
    <link:label xlink:type="resource" xlink:label="label_InssSocialSecurityAndOtherMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InssSocialSecurityAndOtherMember_1" xml:lang="en-US" id="label_InssSocialSecurityAndOtherMember_1">INSS - Social security and other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InssSocialSecurityAndOtherMember" xlink:to="label_InssSocialSecurityAndOtherMember_1" xlink:title="Label : InssSocialSecurityAndOtherMember to label_InssSocialSecurityAndOtherMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InssSocialSecurityAndOtherMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InssSocialSecurityAndOtherMember_2" xml:lang="en-US" id="label_InssSocialSecurityAndOtherMember_2">INSS - Social security and other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InssSocialSecurityAndOtherMember" xlink:to="label_InssSocialSecurityAndOtherMember_2" xlink:title="Label : InssSocialSecurityAndOtherMember to label_InssSocialSecurityAndOtherMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompensationWithIpiIn6798Member" xlink:label="CompensationWithIpiIn6798Member" xlink:title="CompensationWithIpiIn6798Member" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithIpiIn6798Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompensationWithIpiIn6798Member" xml:lang="en-US" id="label_CompensationWithIpiIn6798Member">Compensation with IPI - IN 67/98 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithIpiIn6798Member" xlink:to="label_CompensationWithIpiIn6798Member" xlink:title="Label : CompensationWithIpiIn6798Member to label_CompensationWithIpiIn6798Member" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithIpiIn6798Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompensationWithIpiIn6798Member_1" xml:lang="en-US" id="label_CompensationWithIpiIn6798Member_1">Compensation with IPI - IN 67/98 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithIpiIn6798Member" xlink:to="label_CompensationWithIpiIn6798Member_1" xlink:title="Label : CompensationWithIpiIn6798Member to label_CompensationWithIpiIn6798Member_1" />
    <link:label xlink:type="resource" xlink:label="label_CompensationWithIpiIn6798Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompensationWithIpiIn6798Member_2" xml:lang="en-US" id="label_CompensationWithIpiIn6798Member_2">Compensation with IPI - IN 67/98 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensationWithIpiIn6798Member" xlink:to="label_CompensationWithIpiIn6798Member_2" xlink:title="Label : CompensationWithIpiIn6798Member to label_CompensationWithIpiIn6798Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GoodwillRumoMember" xlink:label="GoodwillRumoMember" xlink:title="GoodwillRumoMember" />
    <link:label xlink:type="resource" xlink:label="label_GoodwillRumoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GoodwillRumoMember" xml:lang="en-US" id="label_GoodwillRumoMember">Goodwill Rumo.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodwillRumoMember" xlink:to="label_GoodwillRumoMember" xlink:title="Label : GoodwillRumoMember to label_GoodwillRumoMember" />
    <link:label xlink:type="resource" xlink:label="label_GoodwillRumoMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GoodwillRumoMember_1" xml:lang="en-US" id="label_GoodwillRumoMember_1">Goodwill [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodwillRumoMember" xlink:to="label_GoodwillRumoMember_1" xlink:title="Label : GoodwillRumoMember to label_GoodwillRumoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GoodwillRumoMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GoodwillRumoMember_2" xml:lang="en-US" id="label_GoodwillRumoMember_2">Goodwill Rumo [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodwillRumoMember" xlink:to="label_GoodwillRumoMember_2" xlink:title="Label : GoodwillRumoMember to label_GoodwillRumoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StockOptionClaimsMember" xlink:label="StockOptionClaimsMember" xlink:title="StockOptionClaimsMember" />
    <link:label xlink:type="resource" xlink:label="label_StockOptionClaimsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockOptionClaimsMember" xml:lang="en-US" id="label_StockOptionClaimsMember">Stock Option Claims [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockOptionClaimsMember" xlink:to="label_StockOptionClaimsMember" xlink:title="Label : StockOptionClaimsMember to label_StockOptionClaimsMember" />
    <link:label xlink:type="resource" xlink:label="label_StockOptionClaimsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockOptionClaimsMember_1" xml:lang="en-US" id="label_StockOptionClaimsMember_1">Stock option [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockOptionClaimsMember" xlink:to="label_StockOptionClaimsMember_1" xlink:title="Label : StockOptionClaimsMember to label_StockOptionClaimsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_StockOptionClaimsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockOptionClaimsMember_2" xml:lang="en-US" id="label_StockOptionClaimsMember_2">Stock option claims.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockOptionClaimsMember" xlink:to="label_StockOptionClaimsMember_2" xlink:title="Label : StockOptionClaimsMember to label_StockOptionClaimsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ForeignFinancialOperationMember" xlink:label="ForeignFinancialOperationMember" xlink:title="ForeignFinancialOperationMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignFinancialOperationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForeignFinancialOperationMember" xml:lang="en-US" id="label_ForeignFinancialOperationMember">Foreign financial operation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignFinancialOperationMember" xlink:to="label_ForeignFinancialOperationMember" xlink:title="Label : ForeignFinancialOperationMember to label_ForeignFinancialOperationMember" />
    <link:label xlink:type="resource" xlink:label="label_ForeignFinancialOperationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForeignFinancialOperationMember_1" xml:lang="en-US" id="label_ForeignFinancialOperationMember_1">Foreign financial operation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignFinancialOperationMember" xlink:to="label_ForeignFinancialOperationMember_1" xlink:title="Label : ForeignFinancialOperationMember to label_ForeignFinancialOperationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ForeignFinancialOperationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForeignFinancialOperationMember_2" xml:lang="en-US" id="label_ForeignFinancialOperationMember_2">Foreign financial operation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForeignFinancialOperationMember" xlink:to="label_ForeignFinancialOperationMember_2" xlink:title="Label : ForeignFinancialOperationMember to label_ForeignFinancialOperationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialTransactionsTaxOnLoanMember" xlink:label="FinancialTransactionsTaxOnLoanMember" xlink:title="FinancialTransactionsTaxOnLoanMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialTransactionsTaxOnLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialTransactionsTaxOnLoanMember" xml:lang="en-US" id="label_FinancialTransactionsTaxOnLoanMember">Financial Transactions Tax on Loan [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialTransactionsTaxOnLoanMember" xlink:to="label_FinancialTransactionsTaxOnLoanMember" xlink:title="Label : FinancialTransactionsTaxOnLoanMember to label_FinancialTransactionsTaxOnLoanMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialTransactionsTaxOnLoanMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialTransactionsTaxOnLoanMember_1" xml:lang="en-US" id="label_FinancialTransactionsTaxOnLoanMember_1">Financial transactions tax on loan [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialTransactionsTaxOnLoanMember" xlink:to="label_FinancialTransactionsTaxOnLoanMember_1" xlink:title="Label : FinancialTransactionsTaxOnLoanMember to label_FinancialTransactionsTaxOnLoanMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FinancialTransactionsTaxOnLoanMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialTransactionsTaxOnLoanMember_2" xml:lang="en-US" id="label_FinancialTransactionsTaxOnLoanMember_2">Financial transactions tax on loan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialTransactionsTaxOnLoanMember" xlink:to="label_FinancialTransactionsTaxOnLoanMember_2" xlink:title="Label : FinancialTransactionsTaxOnLoanMember to label_FinancialTransactionsTaxOnLoanMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CivilMember" xlink:label="CivilMember" xlink:title="CivilMember" />
    <link:label xlink:type="resource" xlink:label="label_CivilMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CivilMember" xml:lang="en-US" id="label_CivilMember">Civil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilMember" xlink:to="label_CivilMember" xlink:title="Label : CivilMember to label_CivilMember" />
    <link:label xlink:type="resource" xlink:label="label_CivilMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CivilMember_1" xml:lang="en-US" id="label_CivilMember_1">Civil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilMember" xlink:to="label_CivilMember_1" xlink:title="Label : CivilMember to label_CivilMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CivilMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CivilMember_2" xml:lang="en-US" id="label_CivilMember_2">Civil.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CivilMember" xlink:to="label_CivilMember_2" xlink:title="Label : CivilMember to label_CivilMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaborMember" xlink:label="LaborMember" xlink:title="LaborMember" />
    <link:label xlink:type="resource" xlink:label="label_LaborMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaborMember" xml:lang="en-US" id="label_LaborMember">Labor [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaborMember" xlink:to="label_LaborMember" xlink:title="Label : LaborMember to label_LaborMember" />
    <link:label xlink:type="resource" xlink:label="label_LaborMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaborMember_1" xml:lang="en-US" id="label_LaborMember_1">Labor [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaborMember" xlink:to="label_LaborMember_1" xlink:title="Label : LaborMember to label_LaborMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaborMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaborMember_2" xml:lang="en-US" id="label_LaborMember_2">Labor.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaborMember" xlink:to="label_LaborMember_2" xlink:title="Label : LaborMember to label_LaborMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxMember" xlink:label="TaxMember" xlink:title="TaxMember" />
    <link:label xlink:type="resource" xlink:label="label_TaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxMember" xml:lang="en-US" id="label_TaxMember">Tax [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxMember" xlink:to="label_TaxMember" xlink:title="Label : TaxMember to label_TaxMember" />
    <link:label xlink:type="resource" xlink:label="label_TaxMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxMember_1" xml:lang="en-US" id="label_TaxMember_1">Tax [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxMember" xlink:to="label_TaxMember_1" xlink:title="Label : TaxMember to label_TaxMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxMember_2" xml:lang="en-US" id="label_TaxMember_2">Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxMember" xlink:to="label_TaxMember_2" xlink:title="Label : TaxMember to label_TaxMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RegulatoryMember" xlink:label="RegulatoryMember" xlink:title="RegulatoryMember" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RegulatoryMember" xml:lang="en-US" id="label_RegulatoryMember">Regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryMember" xlink:to="label_RegulatoryMember" xlink:title="Label : RegulatoryMember to label_RegulatoryMember" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RegulatoryMember_1" xml:lang="en-US" id="label_RegulatoryMember_1">Regulatory [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryMember" xlink:to="label_RegulatoryMember_1" xlink:title="Label : RegulatoryMember to label_RegulatoryMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RegulatoryMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RegulatoryMember_2" xml:lang="en-US" id="label_RegulatoryMember_2">Regulatory.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegulatoryMember" xlink:to="label_RegulatoryMember_2" xlink:title="Label : RegulatoryMember to label_RegulatoryMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EnvironmentalMember" xlink:label="EnvironmentalMember" xlink:title="EnvironmentalMember" />
    <link:label xlink:type="resource" xlink:label="label_EnvironmentalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EnvironmentalMember" xml:lang="en-US" id="label_EnvironmentalMember">Environmental [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnvironmentalMember" xlink:to="label_EnvironmentalMember" xlink:title="Label : EnvironmentalMember to label_EnvironmentalMember" />
    <link:label xlink:type="resource" xlink:label="label_EnvironmentalMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EnvironmentalMember_1" xml:lang="en-US" id="label_EnvironmentalMember_1">Environmental [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnvironmentalMember" xlink:to="label_EnvironmentalMember_1" xlink:title="Label : EnvironmentalMember to label_EnvironmentalMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EnvironmentalMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EnvironmentalMember_2" xml:lang="en-US" id="label_EnvironmentalMember_2">Environmental.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EnvironmentalMember" xlink:to="label_EnvironmentalMember_2" xlink:title="Label : EnvironmentalMember to label_EnvironmentalMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfContingentLiabilitiesLineItems" xlink:label="DisclosureOfContingentLiabilitiesLineItems" xlink:title="DisclosureOfContingentLiabilitiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfContingentLiabilitiesLineItems" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesLineItems">Disclosure of contingent liabilities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesLineItems" xlink:to="label_DisclosureOfContingentLiabilitiesLineItems" xlink:title="Label : DisclosureOfContingentLiabilitiesLineItems to label_DisclosureOfContingentLiabilitiesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentLiabilitiesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfContingentLiabilitiesLineItems_1" xml:lang="en-US" id="label_DisclosureOfContingentLiabilitiesLineItems_1">Disclosure of contingent liabilities [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentLiabilitiesLineItems" xlink:to="label_DisclosureOfContingentLiabilitiesLineItems_1" xlink:title="Label : DisclosureOfContingentLiabilitiesLineItems to label_DisclosureOfContingentLiabilitiesLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:label="EstimatedFinancialEffectOfContingentLiabilities" xlink:title="EstimatedFinancialEffectOfContingentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedFinancialEffectOfContingentLiabilities" xml:lang="en-US" id="label_EstimatedFinancialEffectOfContingentLiabilities">Estimated financial effect of contingent liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedFinancialEffectOfContingentLiabilities" xlink:to="label_EstimatedFinancialEffectOfContingentLiabilities" xlink:title="Label : EstimatedFinancialEffectOfContingentLiabilities to label_EstimatedFinancialEffectOfContingentLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedFinancialEffectOfContingentLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedFinancialEffectOfContingentLiabilities_1" xml:lang="en-US" id="label_EstimatedFinancialEffectOfContingentLiabilities_1">Principal proceedings, deemed risk of loss as possible</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedFinancialEffectOfContingentLiabilities" xlink:to="label_EstimatedFinancialEffectOfContingentLiabilities_1" xlink:title="Label : EstimatedFinancialEffectOfContingentLiabilities to label_EstimatedFinancialEffectOfContingentLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfContingentAssetsTable" xlink:label="DisclosureOfContingentAssetsTable" xlink:title="DisclosureOfContingentAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfContingentAssetsTable" xml:lang="en-US" id="label_DisclosureOfContingentAssetsTable">Disclosure of contingent assets [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentAssetsTable" xlink:to="label_DisclosureOfContingentAssetsTable" xlink:title="Label : DisclosureOfContingentAssetsTable to label_DisclosureOfContingentAssetsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentAssetsTable_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfContingentAssetsTable_1" xml:lang="en-US" id="label_DisclosureOfContingentAssetsTable_1">Schedule disclosing information related to contingent liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentAssetsTable" xlink:to="label_DisclosureOfContingentAssetsTable_1" xlink:title="Label : DisclosureOfContingentAssetsTable to label_DisclosureOfContingentAssetsTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ClassesOfContingentAssetsAxis" xlink:label="ClassesOfContingentAssetsAxis" xlink:title="ClassesOfContingentAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfContingentAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ClassesOfContingentAssetsAxis" xml:lang="en-US" id="label_ClassesOfContingentAssetsAxis">Classes of contingent assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfContingentAssetsAxis" xlink:to="label_ClassesOfContingentAssetsAxis" xlink:title="Label : ClassesOfContingentAssetsAxis to label_ClassesOfContingentAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ClassesOfContingentAssetsAxis_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ClassesOfContingentAssetsAxis_1" xml:lang="en-US" id="label_ClassesOfContingentAssetsAxis_1">Information by type of contingent assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfContingentAssetsAxis" xlink:to="label_ClassesOfContingentAssetsAxis_1" xlink:title="Label : ClassesOfContingentAssetsAxis to label_ClassesOfContingentAssetsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContingentAssetsMember" xlink:label="ContingentAssetsMember" xlink:title="ContingentAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentAssetsMember" xml:lang="en-US" id="label_ContingentAssetsMember">Contingent Assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetsMember" xlink:to="label_ContingentAssetsMember" xlink:title="Label : ContingentAssetsMember to label_ContingentAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContingentAssetsMember_1" xml:lang="en-US" id="label_ContingentAssetsMember_1">Type of contingent assets by leagal proceedings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetsMember" xlink:to="label_ContingentAssetsMember_1" xlink:title="Label : ContingentAssetsMember to label_ContingentAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalProceedingsContingentAssetsMember" xlink:label="LegalProceedingsContingentAssetsMember" xlink:title="LegalProceedingsContingentAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalProceedingsContingentAssetsMember" xml:lang="en-US" id="label_LegalProceedingsContingentAssetsMember">Legal Proceedings Contingent Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentAssetsMember" xlink:to="label_LegalProceedingsContingentAssetsMember" xlink:title="Label : LegalProceedingsContingentAssetsMember to label_LegalProceedingsContingentAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalProceedingsContingentAssetsMember_1" xml:lang="en-US" id="label_LegalProceedingsContingentAssetsMember_1">This member stands for a contingent asset for legal proceedings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentAssetsMember" xlink:to="label_LegalProceedingsContingentAssetsMember_1" xlink:title="Label : LegalProceedingsContingentAssetsMember to label_LegalProceedingsContingentAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalProceedingsContingentAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalProceedingsContingentAssetsMember_2" xml:lang="en-US" id="label_LegalProceedingsContingentAssetsMember_2">Legal proceedings contingent assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalProceedingsContingentAssetsMember" xlink:to="label_LegalProceedingsContingentAssetsMember_2" xlink:title="Label : LegalProceedingsContingentAssetsMember to label_LegalProceedingsContingentAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfContingentAssetsLineItems" xlink:label="DisclosureOfContingentAssetsLineItems" xlink:title="DisclosureOfContingentAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfContingentAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfContingentAssetsLineItems">Disclosure of Contingent Assets [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentAssetsLineItems" xlink:to="label_DisclosureOfContingentAssetsLineItems" xlink:title="Label : DisclosureOfContingentAssetsLineItems to label_DisclosureOfContingentAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentAssetsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfContingentAssetsLineItems_1" xml:lang="en-US" id="label_DisclosureOfContingentAssetsLineItems_1">Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentAssetsLineItems" xlink:to="label_DisclosureOfContingentAssetsLineItems_1" xlink:title="Label : DisclosureOfContingentAssetsLineItems to label_DisclosureOfContingentAssetsLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfContingentAssetsLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfContingentAssetsLineItems_2" xml:lang="en-US" id="label_DisclosureOfContingentAssetsLineItems_2">Contingent assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfContingentAssetsLineItems" xlink:to="label_DisclosureOfContingentAssetsLineItems_2" xlink:title="Label : DisclosureOfContingentAssetsLineItems to label_DisclosureOfContingentAssetsLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContingentAssetRecognizedForTaxContingencies" xlink:label="ContingentAssetRecognizedForTaxContingencies" xlink:title="ContingentAssetRecognizedForTaxContingencies" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetRecognizedForTaxContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentAssetRecognizedForTaxContingencies" xml:lang="en-US" id="label_ContingentAssetRecognizedForTaxContingencies">Contingent Asset Recognized for Tax Contingencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetRecognizedForTaxContingencies" xlink:to="label_ContingentAssetRecognizedForTaxContingencies" xlink:title="Label : ContingentAssetRecognizedForTaxContingencies to label_ContingentAssetRecognizedForTaxContingencies" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetRecognizedForTaxContingencies_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContingentAssetRecognizedForTaxContingencies_1" xml:lang="en-US" id="label_ContingentAssetRecognizedForTaxContingencies_1">The amount of contingent asset recognized for tax contingencies.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetRecognizedForTaxContingencies" xlink:to="label_ContingentAssetRecognizedForTaxContingencies_1" xlink:title="Label : ContingentAssetRecognizedForTaxContingencies to label_ContingentAssetRecognizedForTaxContingencies_1" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetRecognizedForTaxContingencies_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentAssetRecognizedForTaxContingencies_2" xml:lang="en-US" id="label_ContingentAssetRecognizedForTaxContingencies_2">Contingent asset recognized for tax contingencies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetRecognizedForTaxContingencies" xlink:to="label_ContingentAssetRecognizedForTaxContingencies_2" xlink:title="Label : ContingentAssetRecognizedForTaxContingencies to label_ContingentAssetRecognizedForTaxContingencies_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherRecoverableTaxesRecognized" xlink:label="OtherRecoverableTaxesRecognized" xlink:title="OtherRecoverableTaxesRecognized" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherRecoverableTaxesRecognized" xml:lang="en-US" id="label_OtherRecoverableTaxesRecognized">Other Recoverable Taxes Recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRecognized" xlink:to="label_OtherRecoverableTaxesRecognized" xlink:title="Label : OtherRecoverableTaxesRecognized to label_OtherRecoverableTaxesRecognized" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRecognized_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherRecoverableTaxesRecognized_1" xml:lang="en-US" id="label_OtherRecoverableTaxesRecognized_1">The amount of other recoverable taxes recognized during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRecognized" xlink:to="label_OtherRecoverableTaxesRecognized_1" xlink:title="Label : OtherRecoverableTaxesRecognized to label_OtherRecoverableTaxesRecognized_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRecognized_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherRecoverableTaxesRecognized_2" xml:lang="en-US" id="label_OtherRecoverableTaxesRecognized_2">Other recoverable taxes recognized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRecognized" xlink:to="label_OtherRecoverableTaxesRecognized_2" xlink:title="Label : OtherRecoverableTaxesRecognized to label_OtherRecoverableTaxesRecognized_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherRecoverableTaxesRelatedToOtherIncome" xlink:label="OtherRecoverableTaxesRelatedToOtherIncome" xlink:title="OtherRecoverableTaxesRelatedToOtherIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRelatedToOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherRecoverableTaxesRelatedToOtherIncome" xml:lang="en-US" id="label_OtherRecoverableTaxesRelatedToOtherIncome">Other Recoverable Taxes Related to Other Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRelatedToOtherIncome" xlink:to="label_OtherRecoverableTaxesRelatedToOtherIncome" xlink:title="Label : OtherRecoverableTaxesRelatedToOtherIncome to label_OtherRecoverableTaxesRelatedToOtherIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRelatedToOtherIncome_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherRecoverableTaxesRelatedToOtherIncome_1" xml:lang="en-US" id="label_OtherRecoverableTaxesRelatedToOtherIncome_1">The amount of other recoverable taxes recognized related to other income during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRelatedToOtherIncome" xlink:to="label_OtherRecoverableTaxesRelatedToOtherIncome_1" xlink:title="Label : OtherRecoverableTaxesRelatedToOtherIncome to label_OtherRecoverableTaxesRelatedToOtherIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRelatedToOtherIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherRecoverableTaxesRelatedToOtherIncome_2" xml:lang="en-US" id="label_OtherRecoverableTaxesRelatedToOtherIncome_2">Other recoverable taxes related to other income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRelatedToOtherIncome" xlink:to="label_OtherRecoverableTaxesRelatedToOtherIncome_2" xlink:title="Label : OtherRecoverableTaxesRelatedToOtherIncome to label_OtherRecoverableTaxesRelatedToOtherIncome_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherRecoverableTaxesRelatedToFinancialIncome" xlink:label="OtherRecoverableTaxesRelatedToFinancialIncome" xlink:title="OtherRecoverableTaxesRelatedToFinancialIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRelatedToFinancialIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherRecoverableTaxesRelatedToFinancialIncome" xml:lang="en-US" id="label_OtherRecoverableTaxesRelatedToFinancialIncome">Other Recoverable Taxes Related to Financial Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRelatedToFinancialIncome" xlink:to="label_OtherRecoverableTaxesRelatedToFinancialIncome" xlink:title="Label : OtherRecoverableTaxesRelatedToFinancialIncome to label_OtherRecoverableTaxesRelatedToFinancialIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRelatedToFinancialIncome_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherRecoverableTaxesRelatedToFinancialIncome_1" xml:lang="en-US" id="label_OtherRecoverableTaxesRelatedToFinancialIncome_1">The amount of other recoverable taxes recognized related to financial income during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRelatedToFinancialIncome" xlink:to="label_OtherRecoverableTaxesRelatedToFinancialIncome_1" xlink:title="Label : OtherRecoverableTaxesRelatedToFinancialIncome to label_OtherRecoverableTaxesRelatedToFinancialIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherRecoverableTaxesRelatedToFinancialIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherRecoverableTaxesRelatedToFinancialIncome_2" xml:lang="en-US" id="label_OtherRecoverableTaxesRelatedToFinancialIncome_2">Other recoverable taxes related to financial income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherRecoverableTaxesRelatedToFinancialIncome" xlink:to="label_OtherRecoverableTaxesRelatedToFinancialIncome_2" xlink:title="Label : OtherRecoverableTaxesRelatedToFinancialIncome to label_OtherRecoverableTaxesRelatedToFinancialIncome_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EstimatedFinancialEffectOfContingentAssets" xlink:label="EstimatedFinancialEffectOfContingentAssets" xlink:title="EstimatedFinancialEffectOfContingentAssets" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedFinancialEffectOfContingentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedFinancialEffectOfContingentAssets" xml:lang="en-US" id="label_EstimatedFinancialEffectOfContingentAssets">Estimated financial effect of contingent assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedFinancialEffectOfContingentAssets" xlink:to="label_EstimatedFinancialEffectOfContingentAssets" xlink:title="Label : EstimatedFinancialEffectOfContingentAssets to label_EstimatedFinancialEffectOfContingentAssets" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedFinancialEffectOfContingentAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedFinancialEffectOfContingentAssets_1" xml:lang="en-US" id="label_EstimatedFinancialEffectOfContingentAssets_1">Indemnity proceeding due to the economic and financial imbalance of the Concession Agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedFinancialEffectOfContingentAssets" xlink:to="label_EstimatedFinancialEffectOfContingentAssets_1" xlink:title="Label : EstimatedFinancialEffectOfContingentAssets to label_EstimatedFinancialEffectOfContingentAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="DisclosureOfClassesOfShareCapitalAbstract" xlink:title="DisclosureOfClassesOfShareCapitalAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalAbstract" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalAbstract">Disclosure of classes of share capital [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalAbstract" xlink:to="label_DisclosureOfClassesOfShareCapitalAbstract" xlink:title="Label : DisclosureOfClassesOfShareCapitalAbstract to label_DisclosureOfClassesOfShareCapitalAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="DisclosureOfClassesOfShareCapitalTable" xlink:title="DisclosureOfClassesOfShareCapitalTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalTable" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalTable">Disclosure of classes of share capital [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="label_DisclosureOfClassesOfShareCapitalTable" xlink:title="Label : DisclosureOfClassesOfShareCapitalTable to label_DisclosureOfClassesOfShareCapitalTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfClassesOfShareCapitalTable_1" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalTable_1">Disclosure of classes of share capital [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalTable" xlink:to="label_DisclosureOfClassesOfShareCapitalTable_1" xlink:title="Label : DisclosureOfClassesOfShareCapitalTable to label_DisclosureOfClassesOfShareCapitalTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ControlingGroupMember" xlink:label="ControlingGroupMember" xlink:title="ControlingGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_ControlingGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ControlingGroupMember" xml:lang="en-US" id="label_ControlingGroupMember">Controling Group [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ControlingGroupMember" xlink:to="label_ControlingGroupMember" xlink:title="Label : ControlingGroupMember to label_ControlingGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_ControlingGroupMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ControlingGroupMember_1" xml:lang="en-US" id="label_ControlingGroupMember_1">Controlling Group [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ControlingGroupMember" xlink:to="label_ControlingGroupMember_1" xlink:title="Label : ControlingGroupMember to label_ControlingGroupMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ControlingGroupMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ControlingGroupMember_2" xml:lang="en-US" id="label_ControlingGroupMember_2">Controling Group [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ControlingGroupMember" xlink:to="label_ControlingGroupMember_2" xlink:title="Label : ControlingGroupMember to label_ControlingGroupMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradingStatusOfStockAxis" xlink:label="TradingStatusOfStockAxis" xlink:title="TradingStatusOfStockAxis" />
    <link:label xlink:type="resource" xlink:label="label_TradingStatusOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradingStatusOfStockAxis" xml:lang="en-US" id="label_TradingStatusOfStockAxis">Trading Status of Stock [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingStatusOfStockAxis" xlink:to="label_TradingStatusOfStockAxis" xlink:title="Label : TradingStatusOfStockAxis to label_TradingStatusOfStockAxis" />
    <link:label xlink:type="resource" xlink:label="label_TradingStatusOfStockAxis_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradingStatusOfStockAxis_1" xml:lang="en-US" id="label_TradingStatusOfStockAxis_1">Information by type of trading status of the entity's stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingStatusOfStockAxis" xlink:to="label_TradingStatusOfStockAxis_1" xlink:title="Label : TradingStatusOfStockAxis to label_TradingStatusOfStockAxis_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TradingStatusOfStockDomain" xlink:label="TradingStatusOfStockDomain" xlink:title="TradingStatusOfStockDomain" />
    <link:label xlink:type="resource" xlink:label="label_TradingStatusOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TradingStatusOfStockDomain" xml:lang="en-US" id="label_TradingStatusOfStockDomain">Trading Status of Stock [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingStatusOfStockDomain" xlink:to="label_TradingStatusOfStockDomain" xlink:title="Label : TradingStatusOfStockDomain to label_TradingStatusOfStockDomain" />
    <link:label xlink:type="resource" xlink:label="label_TradingStatusOfStockDomain_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TradingStatusOfStockDomain_1" xml:lang="en-US" id="label_TradingStatusOfStockDomain_1">Components of trading status of the entity's stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingStatusOfStockDomain" xlink:to="label_TradingStatusOfStockDomain_1" xlink:title="Label : TradingStatusOfStockDomain to label_TradingStatusOfStockDomain_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FreeFloatMember" xlink:label="FreeFloatMember" xlink:title="FreeFloatMember" />
    <link:label xlink:type="resource" xlink:label="label_FreeFloatMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FreeFloatMember" xml:lang="en-US" id="label_FreeFloatMember">Free Float [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreeFloatMember" xlink:to="label_FreeFloatMember" xlink:title="Label : FreeFloatMember to label_FreeFloatMember" />
    <link:label xlink:type="resource" xlink:label="label_FreeFloatMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FreeFloatMember_1" xml:lang="en-US" id="label_FreeFloatMember_1">This member stands for the information pertaining to free float of the entity. Free float, also known as public float, refers to the shares of an entity that can be publicly traded and are not restricted (i.e., held by insiders).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreeFloatMember" xlink:to="label_FreeFloatMember_1" xlink:title="Label : FreeFloatMember to label_FreeFloatMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FreeFloatMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FreeFloatMember_2" xml:lang="en-US" id="label_FreeFloatMember_2">Free float [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FreeFloatMember" xlink:to="label_FreeFloatMember_2" xlink:title="Label : FreeFloatMember to label_FreeFloatMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="DisclosureOfClassesOfShareCapitalLineItems" xlink:title="DisclosureOfClassesOfShareCapitalLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfClassesOfShareCapitalLineItems" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalLineItems">Disclosure of classes of share capital [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="label_DisclosureOfClassesOfShareCapitalLineItems" xlink:title="Label : DisclosureOfClassesOfShareCapitalLineItems to label_DisclosureOfClassesOfShareCapitalLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfClassesOfShareCapitalLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfClassesOfShareCapitalLineItems_1" xml:lang="en-US" id="label_DisclosureOfClassesOfShareCapitalLineItems_1">Disclosure of classes of share capital [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfClassesOfShareCapitalLineItems" xlink:to="label_DisclosureOfClassesOfShareCapitalLineItems_1" xlink:title="Label : DisclosureOfClassesOfShareCapitalLineItems to label_DisclosureOfClassesOfShareCapitalLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfSharesOutstanding" xlink:label="PercentageOfSharesOutstanding" xlink:title="PercentageOfSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfSharesOutstanding" xml:lang="en-US" id="label_PercentageOfSharesOutstanding">Percentage Of Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfSharesOutstanding" xlink:to="label_PercentageOfSharesOutstanding" xlink:title="Label : PercentageOfSharesOutstanding to label_PercentageOfSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfSharesOutstanding_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PercentageOfSharesOutstanding_1" xml:lang="en-US" id="label_PercentageOfSharesOutstanding_1">Percentage of shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfSharesOutstanding" xlink:to="label_PercentageOfSharesOutstanding_1" xlink:title="Label : PercentageOfSharesOutstanding to label_PercentageOfSharesOutstanding_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfSharesOutstanding_2" xml:lang="en-US" id="label_PercentageOfSharesOutstanding_2">Percentage of shares outstanding.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfSharesOutstanding" xlink:to="label_PercentageOfSharesOutstanding_2" xlink:title="Label : PercentageOfSharesOutstanding to label_PercentageOfSharesOutstanding_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfTreasuryShares" xlink:label="PercentageOfTreasuryShares" xlink:title="PercentageOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfTreasuryShares" xml:lang="en-US" id="label_PercentageOfTreasuryShares">Percentage of Treasury Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfTreasuryShares" xlink:to="label_PercentageOfTreasuryShares" xlink:title="Label : PercentageOfTreasuryShares to label_PercentageOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfTreasuryShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfTreasuryShares_1" xml:lang="en-US" id="label_PercentageOfTreasuryShares_1">Percentage of treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfTreasuryShares" xlink:to="label_PercentageOfTreasuryShares_1" xlink:title="Label : PercentageOfTreasuryShares to label_PercentageOfTreasuryShares_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfTreasuryShares_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfTreasuryShares_2" xml:lang="en-US" id="label_PercentageOfTreasuryShares_2">Percentage of treasury shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfTreasuryShares" xlink:to="label_PercentageOfTreasuryShares_2" xlink:title="Label : PercentageOfTreasuryShares to label_PercentageOfTreasuryShares_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfSharesIssued" xlink:label="PercentageOfSharesIssued" xlink:title="PercentageOfSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfSharesIssued" xml:lang="en-US" id="label_PercentageOfSharesIssued">Percentage of Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfSharesIssued" xlink:to="label_PercentageOfSharesIssued" xlink:title="Label : PercentageOfSharesIssued to label_PercentageOfSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfSharesIssued_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfSharesIssued_1" xml:lang="en-US" id="label_PercentageOfSharesIssued_1">Percentage of shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfSharesIssued" xlink:to="label_PercentageOfSharesIssued_1" xlink:title="Label : PercentageOfSharesIssued to label_PercentageOfSharesIssued_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfSharesIssued_2" xml:lang="en-US" id="label_PercentageOfSharesIssued_2">Percentage of shares issued.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfSharesIssued" xlink:to="label_PercentageOfSharesIssued_2" xlink:title="Label : PercentageOfSharesIssued to label_PercentageOfSharesIssued_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="NumberOfSharesOutstanding" xlink:title="NumberOfSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NumberOfSharesOutstanding" xml:lang="en-US" id="label_NumberOfSharesOutstanding">Number of shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesOutstanding" xlink:to="label_NumberOfSharesOutstanding" xlink:title="Label : NumberOfSharesOutstanding to label_NumberOfSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesOutstanding_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesOutstanding_1" xml:lang="en-US" id="label_NumberOfSharesOutstanding_1">Total of shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesOutstanding" xlink:to="label_NumberOfSharesOutstanding_1" xlink:title="Label : NumberOfSharesOutstanding to label_NumberOfSharesOutstanding_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesOutstanding_2" xml:lang="en-US" id="label_NumberOfSharesOutstanding_2">Number of shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesOutstanding" xlink:to="label_NumberOfSharesOutstanding_2" xlink:title="Label : NumberOfSharesOutstanding to label_NumberOfSharesOutstanding_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TreasurySharesShares" xlink:label="TreasurySharesShares" xlink:title="TreasurySharesShares" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasurySharesShares" xml:lang="en-US" id="label_TreasurySharesShares">Treasury Shares Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesShares" xlink:to="label_TreasurySharesShares" xlink:title="Label : TreasurySharesShares to label_TreasurySharesShares" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TreasurySharesShares_1" xml:lang="en-US" id="label_TreasurySharesShares_1">Treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesShares" xlink:to="label_TreasurySharesShares_1" xlink:title="Label : TreasurySharesShares to label_TreasurySharesShares_1" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesShares_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TreasurySharesShares_2" xml:lang="en-US" id="label_TreasurySharesShares_2">Treasury shares shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesShares" xlink:to="label_TreasurySharesShares_2" xlink:title="Label : TreasurySharesShares to label_TreasurySharesShares_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TreasurySharesMember" xlink:label="TreasurySharesMember" xlink:title="TreasurySharesMember" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasurySharesMember" xml:lang="en-US" id="label_TreasurySharesMember">Treasury shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesMember" xlink:to="label_TreasurySharesMember" xlink:title="Label : TreasurySharesMember to label_TreasurySharesMember" />
    <link:label xlink:type="resource" xlink:label="label_TreasurySharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TreasurySharesMember_1" xml:lang="en-US" id="label_TreasurySharesMember_1">Treasury shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasurySharesMember" xlink:to="label_TreasurySharesMember_1" xlink:title="Label : TreasurySharesMember to label_TreasurySharesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PlanName1Axis" xlink:label="PlanName1Axis" xlink:title="PlanName1Axis" />
    <link:label xlink:type="resource" xlink:label="label_PlanName1Axis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PlanName1Axis" xml:lang="en-US" id="label_PlanName1Axis">Plan Name1 [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanName1Axis" xlink:to="label_PlanName1Axis" xlink:title="Label : PlanName1Axis to label_PlanName1Axis" />
    <link:label xlink:type="resource" xlink:label="label_PlanName1Axis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PlanName1Axis_1" xml:lang="en-US" id="label_PlanName1Axis_1">Plan Name1 [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanName1Axis" xlink:to="label_PlanName1Axis_1" xlink:title="Label : PlanName1Axis to label_PlanName1Axis_1" />
    <link:label xlink:type="resource" xlink:label="label_PlanName1Axis_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PlanName1Axis_2" xml:lang="en-US" id="label_PlanName1Axis_2">Information by plan name1 pertaining to equity-based compensation arrangements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanName1Axis" xlink:to="label_PlanName1Axis_2" xlink:title="Label : PlanName1Axis to label_PlanName1Axis_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PlanName1Domain" xlink:label="PlanName1Domain" xlink:title="PlanName1Domain" />
    <link:label xlink:type="resource" xlink:label="label_PlanName1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PlanName1Domain" xml:lang="en-US" id="label_PlanName1Domain">Plan Name 1 [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanName1Domain" xlink:to="label_PlanName1Domain" xlink:title="Label : PlanName1Domain to label_PlanName1Domain" />
    <link:label xlink:type="resource" xlink:label="label_PlanName1Domain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PlanName1Domain_1" xml:lang="en-US" id="label_PlanName1Domain_1">Plan Name 1 [domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanName1Domain" xlink:to="label_PlanName1Domain_1" xlink:title="Label : PlanName1Domain to label_PlanName1Domain_1" />
    <link:label xlink:type="resource" xlink:label="label_PlanName1Domain_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PlanName1Domain_2" xml:lang="en-US" id="label_PlanName1Domain_2">Name of the equity-based compensation arrangement plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanName1Domain" xlink:to="label_PlanName1Domain_2" xlink:title="Label : PlanName1Domain to label_PlanName1Domain_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:label="NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:title="NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xml:lang="en-US" id="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans">Number of Shares Issued During Period for Share Based Compensation Plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:to="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:title="Label : NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans to label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_1" xml:lang="en-US" id="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_1">The number of shares issued to employees for share-based compensation plans during period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:to="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_1" xlink:title="Label : NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans to label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_2" xml:lang="en-US" id="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_2">Number of shares issued to employees for share-based compensation plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" xlink:to="label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_2" xlink:title="Label : NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans to label_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:label="NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:title="NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xml:lang="en-US" id="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans">Number of Shares Issued During Period for Other than Share Based Compensation Plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:to="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:title="Label : NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans to label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_1" xml:lang="en-US" id="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_1">The number of shares sold or issued for other than share-based compensation plans during period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:to="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_1" xlink:title="Label : NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans to label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_2" xml:lang="en-US" id="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_2">Number of shares sold or issued for other than share-based compensation plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" xlink:to="label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_2" xlink:title="Label : NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans to label_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MarketValuePricePerShare" xlink:label="MarketValuePricePerShare" xlink:title="MarketValuePricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_MarketValuePricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketValuePricePerShare" xml:lang="en-US" id="label_MarketValuePricePerShare">Market Value Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketValuePricePerShare" xlink:to="label_MarketValuePricePerShare" xlink:title="Label : MarketValuePricePerShare to label_MarketValuePricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_MarketValuePricePerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketValuePricePerShare_1" xml:lang="en-US" id="label_MarketValuePricePerShare_1">Market value per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketValuePricePerShare" xlink:to="label_MarketValuePricePerShare_1" xlink:title="Label : MarketValuePricePerShare to label_MarketValuePricePerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_MarketValuePricePerShare_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketValuePricePerShare_2" xml:lang="en-US" id="label_MarketValuePricePerShare_2">Market value price per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketValuePricePerShare" xlink:to="label_MarketValuePricePerShare_2" xlink:title="Label : MarketValuePricePerShare to label_MarketValuePricePerShare_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesRepurchased" xlink:label="NumberOfSharesRepurchased" xlink:title="NumberOfSharesRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesRepurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesRepurchased" xml:lang="en-US" id="label_NumberOfSharesRepurchased">Number Of Shares Repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesRepurchased" xlink:to="label_NumberOfSharesRepurchased" xlink:title="Label : NumberOfSharesRepurchased to label_NumberOfSharesRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesRepurchased_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesRepurchased_1" xml:lang="en-US" id="label_NumberOfSharesRepurchased_1">Shares repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesRepurchased" xlink:to="label_NumberOfSharesRepurchased_1" xlink:title="Label : NumberOfSharesRepurchased to label_NumberOfSharesRepurchased_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesRepurchased_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesRepurchased_2" xml:lang="en-US" id="label_NumberOfSharesRepurchased_2">Number of shares repurchased.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesRepurchased" xlink:to="label_NumberOfSharesRepurchased_2" xlink:title="Label : NumberOfSharesRepurchased to label_NumberOfSharesRepurchased_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfOwnSharesRepurchased" xlink:label="PercentageOfOwnSharesRepurchased" xlink:title="PercentageOfOwnSharesRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOwnSharesRepurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfOwnSharesRepurchased" xml:lang="en-US" id="label_PercentageOfOwnSharesRepurchased">Percentage Of Own Shares Repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOwnSharesRepurchased" xlink:to="label_PercentageOfOwnSharesRepurchased" xlink:title="Label : PercentageOfOwnSharesRepurchased to label_PercentageOfOwnSharesRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOwnSharesRepurchased_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfOwnSharesRepurchased_1" xml:lang="en-US" id="label_PercentageOfOwnSharesRepurchased_1">Share repurchase percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOwnSharesRepurchased" xlink:to="label_PercentageOfOwnSharesRepurchased_1" xlink:title="Label : PercentageOfOwnSharesRepurchased to label_PercentageOfOwnSharesRepurchased_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfOwnSharesRepurchased_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfOwnSharesRepurchased_2" xml:lang="en-US" id="label_PercentageOfOwnSharesRepurchased_2">Percentage of own shares repurchased.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfOwnSharesRepurchased" xlink:to="label_PercentageOfOwnSharesRepurchased_2" xlink:title="Label : PercentageOfOwnSharesRepurchased to label_PercentageOfOwnSharesRepurchased_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesCancelled" xlink:label="NumberOfSharesCancelled" xlink:title="NumberOfSharesCancelled" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesCancelled" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesCancelled" xml:lang="en-US" id="label_NumberOfSharesCancelled">Number Of Shares Cancelled</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesCancelled" xlink:to="label_NumberOfSharesCancelled" xlink:title="Label : NumberOfSharesCancelled to label_NumberOfSharesCancelled" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesCancelled_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesCancelled_1" xml:lang="en-US" id="label_NumberOfSharesCancelled_1">Shares cancelled</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesCancelled" xlink:to="label_NumberOfSharesCancelled_1" xlink:title="Label : NumberOfSharesCancelled to label_NumberOfSharesCancelled_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesCancelled" xlink:to="label_NumberOfSharesCancelled_2" xlink:title="Label : NumberOfSharesCancelled to label_NumberOfSharesCancelled_2" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" xlink:label="AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" xlink:title="AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedOtherComprehensiveLossActuarialGainLossMember" xlink:label="AccumulatedOtherComprehensiveLossActuarialGainLossMember" xlink:title="AccumulatedOtherComprehensiveLossActuarialGainLossMember" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" xlink:label="AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" xlink:title="AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" />
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    <link:label xlink:type="resource" xlink:label="label_AdjustedWeightedAverageShares_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustedWeightedAverageShares_1" xml:lang="en-US" id="label_AdjustedWeightedAverageShares_1">Adjusted weighted average number of ordinary shares outstanding</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:label="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:title="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:to="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" xlink:title="Label : DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract to label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:label="RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:title="RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" />
    <link:label xlink:type="resource" xlink:label="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xml:lang="en-US" id="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1">Revenue Arising From Exchanges Of Goods Or Services Sale Of Goods</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:to="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:title="Label : RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1 to label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" />
    <link:label xlink:type="resource" xlink:label="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_1" xml:lang="en-US" id="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_1">Gross revenue from sales of products and services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:to="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_1" xlink:title="Label : RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1 to label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_1" />
    <link:label xlink:type="resource" xlink:label="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_2" xml:lang="en-US" id="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_2">Revenue arising from exchanges of goods or services sale of goods.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" xlink:to="label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_2" xlink:title="Label : RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1 to label_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RevenueFromConstructionContracts" xlink:label="RevenueFromConstructionContracts" xlink:title="RevenueFromConstructionContracts" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromConstructionContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromConstructionContracts" xml:lang="en-US" id="label_RevenueFromConstructionContracts">Revenue from construction contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromConstructionContracts" xlink:to="label_RevenueFromConstructionContracts" xlink:title="Label : RevenueFromConstructionContracts to label_RevenueFromConstructionContracts" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromConstructionContracts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromConstructionContracts_1" xml:lang="en-US" id="label_RevenueFromConstructionContracts_1">Construction revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromConstructionContracts" xlink:to="label_RevenueFromConstructionContracts_1" xlink:title="Label : RevenueFromConstructionContracts to label_RevenueFromConstructionContracts_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IndirectTaxesAndDeductions" xlink:label="IndirectTaxesAndDeductions" xlink:title="IndirectTaxesAndDeductions" />
    <link:label xlink:type="resource" xlink:label="label_IndirectTaxesAndDeductions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndirectTaxesAndDeductions" xml:lang="en-US" id="label_IndirectTaxesAndDeductions">Indirect taxes and deductions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndirectTaxesAndDeductions" xlink:to="label_IndirectTaxesAndDeductions" xlink:title="Label : IndirectTaxesAndDeductions to label_IndirectTaxesAndDeductions" />
    <link:label xlink:type="resource" xlink:label="label_IndirectTaxesAndDeductions_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_IndirectTaxesAndDeductions_1" xml:lang="en-US" id="label_IndirectTaxesAndDeductions_1">Indirect taxes and deductions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndirectTaxesAndDeductions" xlink:to="label_IndirectTaxesAndDeductions_1" xlink:title="Label : IndirectTaxesAndDeductions to label_IndirectTaxesAndDeductions_1" />
    <link:label xlink:type="resource" xlink:label="label_IndirectTaxesAndDeductions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndirectTaxesAndDeductions_2" xml:lang="en-US" id="label_IndirectTaxesAndDeductions_2">Indirect taxes and deductions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndirectTaxesAndDeductions" xlink:to="label_IndirectTaxesAndDeductions_2" xlink:title="Label : IndirectTaxesAndDeductions to label_IndirectTaxesAndDeductions_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:label="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:title="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xml:lang="en-US" id="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable">Disclosure of disaggregation of revenue from contracts with customers [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:to="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:title="Label : DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable to label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_1" xml:lang="en-US" id="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_1">Disclosure of disaggregation of revenue from contracts with customers [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:to="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_1" xlink:title="Label : DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable to label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xlink:label="TimingOfTransferOfGoodsOrServicesAxis" xlink:title="TimingOfTransferOfGoodsOrServicesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TimingOfTransferOfGoodsOrServicesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TimingOfTransferOfGoodsOrServicesAxis" xml:lang="en-US" id="label_TimingOfTransferOfGoodsOrServicesAxis">Timing of transfer of goods or services [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimingOfTransferOfGoodsOrServicesAxis" xlink:to="label_TimingOfTransferOfGoodsOrServicesAxis" xlink:title="Label : TimingOfTransferOfGoodsOrServicesAxis to label_TimingOfTransferOfGoodsOrServicesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TimingOfTransferOfGoodsOrServicesAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TimingOfTransferOfGoodsOrServicesAxis_1" xml:lang="en-US" id="label_TimingOfTransferOfGoodsOrServicesAxis_1">Timing of transfer of goods or services [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimingOfTransferOfGoodsOrServicesAxis" xlink:to="label_TimingOfTransferOfGoodsOrServicesAxis_1" xlink:title="Label : TimingOfTransferOfGoodsOrServicesAxis to label_TimingOfTransferOfGoodsOrServicesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xlink:label="TimingOfTransferOfGoodsOrServicesMember" xlink:title="TimingOfTransferOfGoodsOrServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_TimingOfTransferOfGoodsOrServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TimingOfTransferOfGoodsOrServicesMember" xml:lang="en-US" id="label_TimingOfTransferOfGoodsOrServicesMember">Timing of transfer of goods or services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimingOfTransferOfGoodsOrServicesMember" xlink:to="label_TimingOfTransferOfGoodsOrServicesMember" xlink:title="Label : TimingOfTransferOfGoodsOrServicesMember to label_TimingOfTransferOfGoodsOrServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_TimingOfTransferOfGoodsOrServicesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TimingOfTransferOfGoodsOrServicesMember_1" xml:lang="en-US" id="label_TimingOfTransferOfGoodsOrServicesMember_1">Timing of transfer of goods or services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TimingOfTransferOfGoodsOrServicesMember" xlink:to="label_TimingOfTransferOfGoodsOrServicesMember_1" xlink:title="Label : TimingOfTransferOfGoodsOrServicesMember to label_TimingOfTransferOfGoodsOrServicesMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember" xlink:label="GoodsOrServicesTransferredAtPointInTimeMember" xlink:title="GoodsOrServicesTransferredAtPointInTimeMember" />
    <link:label xlink:type="resource" xlink:label="label_GoodsOrServicesTransferredAtPointInTimeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GoodsOrServicesTransferredAtPointInTimeMember" xml:lang="en-US" id="label_GoodsOrServicesTransferredAtPointInTimeMember">Goods or services transferred at point in time [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodsOrServicesTransferredAtPointInTimeMember" xlink:to="label_GoodsOrServicesTransferredAtPointInTimeMember" xlink:title="Label : GoodsOrServicesTransferredAtPointInTimeMember to label_GoodsOrServicesTransferredAtPointInTimeMember" />
    <link:label xlink:type="resource" xlink:label="label_GoodsOrServicesTransferredAtPointInTimeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GoodsOrServicesTransferredAtPointInTimeMember_1" xml:lang="en-US" id="label_GoodsOrServicesTransferredAtPointInTimeMember_1">Goods or services transferred at point in time [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodsOrServicesTransferredAtPointInTimeMember" xlink:to="label_GoodsOrServicesTransferredAtPointInTimeMember_1" xlink:title="Label : GoodsOrServicesTransferredAtPointInTimeMember to label_GoodsOrServicesTransferredAtPointInTimeMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GoodsOrServicesTransferredOverTimeMember" xlink:label="GoodsOrServicesTransferredOverTimeMember" xlink:title="GoodsOrServicesTransferredOverTimeMember" />
    <link:label xlink:type="resource" xlink:label="label_GoodsOrServicesTransferredOverTimeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GoodsOrServicesTransferredOverTimeMember" xml:lang="en-US" id="label_GoodsOrServicesTransferredOverTimeMember">Goods or services transferred over time [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodsOrServicesTransferredOverTimeMember" xlink:to="label_GoodsOrServicesTransferredOverTimeMember" xlink:title="Label : GoodsOrServicesTransferredOverTimeMember to label_GoodsOrServicesTransferredOverTimeMember" />
    <link:label xlink:type="resource" xlink:label="label_GoodsOrServicesTransferredOverTimeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GoodsOrServicesTransferredOverTimeMember_1" xml:lang="en-US" id="label_GoodsOrServicesTransferredOverTimeMember_1">Goods or services transferred over time [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodsOrServicesTransferredOverTimeMember" xlink:to="label_GoodsOrServicesTransferredOverTimeMember_1" xlink:title="Label : GoodsOrServicesTransferredOverTimeMember to label_GoodsOrServicesTransferredOverTimeMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LubricantsAndBasicOilMember" xlink:label="LubricantsAndBasicOilMember" xlink:title="LubricantsAndBasicOilMember" />
    <link:label xlink:type="resource" xlink:label="label_LubricantsAndBasicOilMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LubricantsAndBasicOilMember" xml:lang="en-US" id="label_LubricantsAndBasicOilMember">Lubricants and basic oil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubricantsAndBasicOilMember" xlink:to="label_LubricantsAndBasicOilMember" xlink:title="Label : LubricantsAndBasicOilMember to label_LubricantsAndBasicOilMember" />
    <link:label xlink:type="resource" xlink:label="label_LubricantsAndBasicOilMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LubricantsAndBasicOilMember_1" xml:lang="en-US" id="label_LubricantsAndBasicOilMember_1">Lubricants and basic oil [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubricantsAndBasicOilMember" xlink:to="label_LubricantsAndBasicOilMember_1" xlink:title="Label : LubricantsAndBasicOilMember to label_LubricantsAndBasicOilMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LubricantsAndBasicOilMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LubricantsAndBasicOilMember_2" xml:lang="en-US" id="label_LubricantsAndBasicOilMember_2">Lubricants and basic oil.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LubricantsAndBasicOilMember" xlink:to="label_LubricantsAndBasicOilMember_2" xlink:title="Label : LubricantsAndBasicOilMember to label_LubricantsAndBasicOilMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherProductsMember" xlink:label="OtherProductsMember" xlink:title="OtherProductsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherProductsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherProductsMember" xml:lang="en-US" id="label_OtherProductsMember">Other Products [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProductsMember" xlink:to="label_OtherProductsMember" xlink:title="Label : OtherProductsMember to label_OtherProductsMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherProductsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherProductsMember_1" xml:lang="en-US" id="label_OtherProductsMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProductsMember" xlink:to="label_OtherProductsMember_1" xlink:title="Label : OtherProductsMember to label_OtherProductsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherProductsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherProductsMember_2" xml:lang="en-US" id="label_OtherProductsMember_2">Other products.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProductsMember" xlink:to="label_OtherProductsMember_2" xlink:title="Label : OtherProductsMember to label_OtherProductsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TransportationMember" xlink:label="TransportationMember" xlink:title="TransportationMember" />
    <link:label xlink:type="resource" xlink:label="label_TransportationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TransportationMember" xml:lang="en-US" id="label_TransportationMember">Transportation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationMember" xlink:to="label_TransportationMember" xlink:title="Label : TransportationMember to label_TransportationMember" />
    <link:label xlink:type="resource" xlink:label="label_TransportationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TransportationMember_1" xml:lang="en-US" id="label_TransportationMember_1">Railroad transportation services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationMember" xlink:to="label_TransportationMember_1" xlink:title="Label : TransportationMember to label_TransportationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TransportationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TransportationMember_2" xml:lang="en-US" id="label_TransportationMember_2">Transportation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransportationMember" xlink:to="label_TransportationMember_2" xlink:title="Label : TransportationMember to label_TransportationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherServicesMember" xlink:label="OtherServicesMember" xlink:title="OtherServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherServicesMember" xml:lang="en-US" id="label_OtherServicesMember">Other services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherServicesMember" xlink:to="label_OtherServicesMember" xlink:title="Label : OtherServicesMember to label_OtherServicesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherServicesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherServicesMember_1" xml:lang="en-US" id="label_OtherServicesMember_1">Services rendered [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherServicesMember" xlink:to="label_OtherServicesMember_1" xlink:title="Label : OtherServicesMember to label_OtherServicesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherServicesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherServicesMember_2" xml:lang="en-US" id="label_OtherServicesMember_2">Other Services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherServicesMember" xlink:to="label_OtherServicesMember_2" xlink:title="Label : OtherServicesMember to label_OtherServicesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EliminationsAndReconcilingItemsMember" xlink:label="EliminationsAndReconcilingItemsMember" xlink:title="EliminationsAndReconcilingItemsMember" />
    <link:label xlink:type="resource" xlink:label="label_EliminationsAndReconcilingItemsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EliminationsAndReconcilingItemsMember" xml:lang="en-US" id="label_EliminationsAndReconcilingItemsMember">Eliminations and Reconciling Items [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EliminationsAndReconcilingItemsMember" xlink:to="label_EliminationsAndReconcilingItemsMember" xlink:title="Label : EliminationsAndReconcilingItemsMember to label_EliminationsAndReconcilingItemsMember" />
    <link:label xlink:type="resource" xlink:label="label_EliminationsAndReconcilingItemsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EliminationsAndReconcilingItemsMember_1" xml:lang="en-US" id="label_EliminationsAndReconcilingItemsMember_1">Elimination [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EliminationsAndReconcilingItemsMember" xlink:to="label_EliminationsAndReconcilingItemsMember_1" xlink:title="Label : EliminationsAndReconcilingItemsMember to label_EliminationsAndReconcilingItemsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EliminationsAndReconcilingItemsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EliminationsAndReconcilingItemsMember_2" xml:lang="en-US" id="label_EliminationsAndReconcilingItemsMember_2">This member stands for the information pertaining to eliminations and reconciling items.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EliminationsAndReconcilingItemsMember" xlink:to="label_EliminationsAndReconcilingItemsMember_2" xlink:title="Label : EliminationsAndReconcilingItemsMember to label_EliminationsAndReconcilingItemsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:label="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:title="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xml:lang="en-US" id="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems">Disclosure of disaggregation of revenue from contracts with customers [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:to="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:title="Label : DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems to label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_1" xml:lang="en-US" id="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_1">Disclosure of disaggregation of revenue from contracts with customers [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:to="label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_1" xlink:title="Label : DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems to label_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RevenueFromContractsWithCustomers" xlink:label="RevenueFromContractsWithCustomers" xlink:title="RevenueFromContractsWithCustomers" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueFromContractsWithCustomers" xml:lang="en-US" id="label_RevenueFromContractsWithCustomers">Revenue from contracts with customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractsWithCustomers" xlink:to="label_RevenueFromContractsWithCustomers" xlink:title="Label : RevenueFromContractsWithCustomers to label_RevenueFromContractsWithCustomers" />
    <link:label xlink:type="resource" xlink:label="label_RevenueFromContractsWithCustomers_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueFromContractsWithCustomers_1" xml:lang="en-US" id="label_RevenueFromContractsWithCustomers_1">Revenue from contracts with customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueFromContractsWithCustomers" xlink:to="label_RevenueFromContractsWithCustomers_1" xlink:title="Label : RevenueFromContractsWithCustomers to label_RevenueFromContractsWithCustomers_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfExpenseByNatureAbstract" xlink:label="DisclosureOfExpenseByNatureAbstract" xlink:title="DisclosureOfExpenseByNatureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExpenseByNatureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfExpenseByNatureAbstract" xml:lang="en-US" id="label_DisclosureOfExpenseByNatureAbstract">Disclosure Of Expense By Nature [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExpenseByNatureAbstract" xlink:to="label_DisclosureOfExpenseByNatureAbstract" xlink:title="Label : DisclosureOfExpenseByNatureAbstract to label_DisclosureOfExpenseByNatureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfExpenseByNatureAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfExpenseByNatureAbstract_1" xml:lang="en-US" id="label_DisclosureOfExpenseByNatureAbstract_1">Disclosure of expense by nature.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfExpenseByNatureAbstract" xlink:to="label_DisclosureOfExpenseByNatureAbstract_1" xlink:title="Label : DisclosureOfExpenseByNatureAbstract to label_DisclosureOfExpenseByNatureAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommodityCost" xlink:label="CommodityCost" xlink:title="CommodityCost" />
    <link:label xlink:type="resource" xlink:label="label_CommodityCost" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CommodityCost" xml:lang="en-US" id="label_CommodityCost">Commodity cost (natural gas)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommodityCost" xlink:to="label_CommodityCost" xlink:title="Label : CommodityCost to label_CommodityCost" />
    <link:label xlink:type="resource" xlink:label="label_CommodityCost_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CommodityCost_1" xml:lang="en-US" id="label_CommodityCost_1">The amount of purchased natural gas that was sold during the period and recognised as an expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommodityCost" xlink:to="label_CommodityCost_1" xlink:title="Label : CommodityCost to label_CommodityCost_1" />
    <link:label xlink:type="resource" xlink:label="label_CommodityCost_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommodityCost_2" xml:lang="en-US" id="label_CommodityCost_2">Commodity Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommodityCost" xlink:to="label_CommodityCost_2" xlink:title="Label : CommodityCost to label_CommodityCost_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="RawMaterialsAndConsumablesUsed" xlink:title="RawMaterialsAndConsumablesUsed" />
    <link:label xlink:type="resource" xlink:label="label_RawMaterialsAndConsumablesUsed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RawMaterialsAndConsumablesUsed" xml:lang="en-US" id="label_RawMaterialsAndConsumablesUsed">Raw materials and consumables used</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RawMaterialsAndConsumablesUsed" xlink:to="label_RawMaterialsAndConsumablesUsed" xlink:title="Label : RawMaterialsAndConsumablesUsed to label_RawMaterialsAndConsumablesUsed" />
    <link:label xlink:type="resource" xlink:label="label_RawMaterialsAndConsumablesUsed_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RawMaterialsAndConsumablesUsed_1" xml:lang="en-US" id="label_RawMaterialsAndConsumablesUsed_1">Raw materials</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RawMaterialsAndConsumablesUsed" xlink:to="label_RawMaterialsAndConsumablesUsed_1" xlink:title="Label : RawMaterialsAndConsumablesUsed to label_RawMaterialsAndConsumablesUsed_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WagesAndSalaries" xlink:label="WagesAndSalaries" xlink:title="WagesAndSalaries" />
    <link:label xlink:type="resource" xlink:label="label_WagesAndSalaries" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_WagesAndSalaries" xml:lang="en-US" id="label_WagesAndSalaries">Personnel expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagesAndSalaries" xlink:to="label_WagesAndSalaries" xlink:title="Label : WagesAndSalaries to label_WagesAndSalaries" />
    <link:label xlink:type="resource" xlink:label="label_WagesAndSalaries_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WagesAndSalaries_1" xml:lang="en-US" id="label_WagesAndSalaries_1">Wages and salaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WagesAndSalaries" xlink:to="label_WagesAndSalaries_1" xlink:title="Label : WagesAndSalaries to label_WagesAndSalaries_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RailroadTransportationAndPortElevationExpenses" xlink:label="RailroadTransportationAndPortElevationExpenses" xlink:title="RailroadTransportationAndPortElevationExpenses" />
    <link:label xlink:type="resource" xlink:label="label_RailroadTransportationAndPortElevationExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RailroadTransportationAndPortElevationExpenses" xml:lang="en-US" id="label_RailroadTransportationAndPortElevationExpenses">Railroad Transportation and Port Elevation Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadTransportationAndPortElevationExpenses" xlink:to="label_RailroadTransportationAndPortElevationExpenses" xlink:title="Label : RailroadTransportationAndPortElevationExpenses to label_RailroadTransportationAndPortElevationExpenses" />
    <link:label xlink:type="resource" xlink:label="label_RailroadTransportationAndPortElevationExpenses_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RailroadTransportationAndPortElevationExpenses_1" xml:lang="en-US" id="label_RailroadTransportationAndPortElevationExpenses_1">The amount of expense arising from railroad transportation and port elevation services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadTransportationAndPortElevationExpenses" xlink:to="label_RailroadTransportationAndPortElevationExpenses_1" xlink:title="Label : RailroadTransportationAndPortElevationExpenses to label_RailroadTransportationAndPortElevationExpenses_1" />
    <link:label xlink:type="resource" xlink:label="label_RailroadTransportationAndPortElevationExpenses_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_RailroadTransportationAndPortElevationExpenses_2" xml:lang="en-US" id="label_RailroadTransportationAndPortElevationExpenses_2">Railroad transportation and port elevation expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RailroadTransportationAndPortElevationExpenses" xlink:to="label_RailroadTransportationAndPortElevationExpenses_2" xlink:title="Label : RailroadTransportationAndPortElevationExpenses to label_RailroadTransportationAndPortElevationExpenses_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfElectricalEnergyPurchasedForResale" xlink:label="CostOfElectricalEnergyPurchasedForResale" xlink:title="CostOfElectricalEnergyPurchasedForResale" />
    <link:label xlink:type="resource" xlink:label="label_CostOfElectricalEnergyPurchasedForResale" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_CostOfElectricalEnergyPurchasedForResale" xml:lang="en-US" id="label_CostOfElectricalEnergyPurchasedForResale">Electricity purchased for resale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfElectricalEnergyPurchasedForResale" xlink:to="label_CostOfElectricalEnergyPurchasedForResale" xlink:title="Label : CostOfElectricalEnergyPurchasedForResale to label_CostOfElectricalEnergyPurchasedForResale" />
    <link:label xlink:type="resource" xlink:label="label_CostOfElectricalEnergyPurchasedForResale_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CostOfElectricalEnergyPurchasedForResale_1" xml:lang="en-US" id="label_CostOfElectricalEnergyPurchasedForResale_1">The amount of purchased electrical energy for resale during the period and recognised as an expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfElectricalEnergyPurchasedForResale" xlink:to="label_CostOfElectricalEnergyPurchasedForResale_1" xlink:title="Label : CostOfElectricalEnergyPurchasedForResale to label_CostOfElectricalEnergyPurchasedForResale_1" />
    <link:label xlink:type="resource" xlink:label="label_CostOfElectricalEnergyPurchasedForResale_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfElectricalEnergyPurchasedForResale_2" xml:lang="en-US" id="label_CostOfElectricalEnergyPurchasedForResale_2">Cost of Electrical Energy Purchased for Resale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfElectricalEnergyPurchasedForResale" xlink:to="label_CostOfElectricalEnergyPurchasedForResale_2" xlink:title="Label : CostOfElectricalEnergyPurchasedForResale to label_CostOfElectricalEnergyPurchasedForResale_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConstructionCost" xlink:label="ConstructionCost" xlink:title="ConstructionCost" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConstructionCost" xml:lang="en-US" id="label_ConstructionCost">Construction cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionCost" xlink:to="label_ConstructionCost" xlink:title="Label : ConstructionCost to label_ConstructionCost" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionCost_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ConstructionCost_1" xml:lang="en-US" id="label_ConstructionCost_1">Construction cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionCost" xlink:to="label_ConstructionCost_1" xlink:title="Label : ConstructionCost to label_ConstructionCost_1" />
    <link:label xlink:type="resource" xlink:label="label_ConstructionCost_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConstructionCost_2" xml:lang="en-US" id="label_ConstructionCost_2">Construction cost.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConstructionCost" xlink:to="label_ConstructionCost_2" xlink:title="Label : ConstructionCost to label_ConstructionCost_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NaturalGasTransportationCost" xlink:label="NaturalGasTransportationCost" xlink:title="NaturalGasTransportationCost" />
    <link:label xlink:type="resource" xlink:label="label_NaturalGasTransportationCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NaturalGasTransportationCost" xml:lang="en-US" id="label_NaturalGasTransportationCost">Natural Gas Transportation Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NaturalGasTransportationCost" xlink:to="label_NaturalGasTransportationCost" xlink:title="Label : NaturalGasTransportationCost to label_NaturalGasTransportationCost" />
    <link:label xlink:type="resource" xlink:label="label_NaturalGasTransportationCost_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NaturalGasTransportationCost_1" xml:lang="en-US" id="label_NaturalGasTransportationCost_1">The amount of expense arising from natural gas transportation services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NaturalGasTransportationCost" xlink:to="label_NaturalGasTransportationCost_1" xlink:title="Label : NaturalGasTransportationCost to label_NaturalGasTransportationCost_1" />
    <link:label xlink:type="resource" xlink:label="label_NaturalGasTransportationCost_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NaturalGasTransportationCost_2" xml:lang="en-US" id="label_NaturalGasTransportationCost_2">Natural gas transportation cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NaturalGasTransportationCost" xlink:to="label_NaturalGasTransportationCost_2" xlink:title="Label : NaturalGasTransportationCost to label_NaturalGasTransportationCost_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SalesAndMarketingExpense" xlink:label="SalesAndMarketingExpense" xlink:title="SalesAndMarketingExpense" />
    <link:label xlink:type="resource" xlink:label="label_SalesAndMarketingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SalesAndMarketingExpense" xml:lang="en-US" id="label_SalesAndMarketingExpense">Sales and marketing expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesAndMarketingExpense" xlink:to="label_SalesAndMarketingExpense" xlink:title="Label : SalesAndMarketingExpense to label_SalesAndMarketingExpense" />
    <link:label xlink:type="resource" xlink:label="label_SalesAndMarketingExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_SalesAndMarketingExpense_1" xml:lang="en-US" id="label_SalesAndMarketingExpense_1">Selling expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesAndMarketingExpense" xlink:to="label_SalesAndMarketingExpense_1" xlink:title="Label : SalesAndMarketingExpense to label_SalesAndMarketingExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherExpenseByNature" xlink:label="OtherExpenseByNature" xlink:title="OtherExpenseByNature" />
    <link:label xlink:type="resource" xlink:label="label_OtherExpenseByNature" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherExpenseByNature" xml:lang="en-US" id="label_OtherExpenseByNature">Other expenses, by nature</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseByNature" xlink:to="label_OtherExpenseByNature" xlink:title="Label : OtherExpenseByNature to label_OtherExpenseByNature" />
    <link:label xlink:type="resource" xlink:label="label_OtherExpenseByNature_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherExpenseByNature_1" xml:lang="en-US" id="label_OtherExpenseByNature_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseByNature" xlink:to="label_OtherExpenseByNature_1" xlink:title="Label : OtherExpenseByNature to label_OtherExpenseByNature_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseByNature" xlink:label="ExpenseByNature" xlink:title="ExpenseByNature" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseByNature" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseByNature" xml:lang="en-US" id="label_ExpenseByNature">Expenses, by nature</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseByNature" xlink:to="label_ExpenseByNature" xlink:title="Label : ExpenseByNature to label_ExpenseByNature" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseByNature_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ExpenseByNature_1" xml:lang="en-US" id="label_ExpenseByNature_1">Total expenses by nature</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseByNature" xlink:to="label_ExpenseByNature_1" xlink:title="Label : ExpenseByNature to label_ExpenseByNature_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SellingExpense1" xlink:label="SellingExpense1" xlink:title="SellingExpense1" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SellingExpense1" xml:lang="en-US" id="label_SellingExpense1">Selling Expense 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense1" xlink:to="label_SellingExpense1" xlink:title="Label : SellingExpense1 to label_SellingExpense1" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense1_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_SellingExpense1_1" xml:lang="en-US" id="label_SellingExpense1_1">Selling expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense1" xlink:to="label_SellingExpense1_1" xlink:title="Label : SellingExpense1 to label_SellingExpense1_1" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense1_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SellingExpense1_2" xml:lang="en-US" id="label_SellingExpense1_2">Selling Expense 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense1" xlink:to="label_SellingExpense1_2" xlink:title="Label : SellingExpense1 to label_SellingExpense1_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GeneralAndAdministrativeExpense2" xlink:label="GeneralAndAdministrativeExpense2" xlink:title="GeneralAndAdministrativeExpense2" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeneralAndAdministrativeExpense2" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense2">General and Administrative Expense2</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense2" xlink:to="label_GeneralAndAdministrativeExpense2" xlink:title="Label : GeneralAndAdministrativeExpense2 to label_GeneralAndAdministrativeExpense2" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense2_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_GeneralAndAdministrativeExpense2_1" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense2_1">General and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense2" xlink:to="label_GeneralAndAdministrativeExpense2_1" xlink:title="Label : GeneralAndAdministrativeExpense2 to label_GeneralAndAdministrativeExpense2_1" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense2_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GeneralAndAdministrativeExpense2_2" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense2_2">General and administrative expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense2" xlink:to="label_GeneralAndAdministrativeExpense2_2" xlink:title="Label : GeneralAndAdministrativeExpense2 to label_GeneralAndAdministrativeExpense2_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OperatingExpensesIncludingCostOfSales" xlink:label="OperatingExpensesIncludingCostOfSales" xlink:title="OperatingExpensesIncludingCostOfSales" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpensesIncludingCostOfSales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpensesIncludingCostOfSales" xml:lang="en-US" id="label_OperatingExpensesIncludingCostOfSales">Operating Expenses Including Cost of Sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpensesIncludingCostOfSales" xlink:to="label_OperatingExpensesIncludingCostOfSales" xlink:title="Label : OperatingExpensesIncludingCostOfSales to label_OperatingExpensesIncludingCostOfSales" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpensesIncludingCostOfSales_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_OperatingExpensesIncludingCostOfSales_1" xml:lang="en-US" id="label_OperatingExpensesIncludingCostOfSales_1">Total cost and expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpensesIncludingCostOfSales" xlink:to="label_OperatingExpensesIncludingCostOfSales_1" xlink:title="Label : OperatingExpensesIncludingCostOfSales to label_OperatingExpensesIncludingCostOfSales_1" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpensesIncludingCostOfSales_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OperatingExpensesIncludingCostOfSales_2" xml:lang="en-US" id="label_OperatingExpensesIncludingCostOfSales_2">Operating Expenses Including Cost of Sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpensesIncludingCostOfSales" xlink:to="label_OperatingExpensesIncludingCostOfSales_2" xlink:title="Label : OperatingExpensesIncludingCostOfSales to label_OperatingExpensesIncludingCostOfSales_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:label="AnalysisOfIncomeAndExpenseAbstract" xlink:title="AnalysisOfIncomeAndExpenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AnalysisOfIncomeAndExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnalysisOfIncomeAndExpenseAbstract" xml:lang="en-US" id="label_AnalysisOfIncomeAndExpenseAbstract">Analysis of income and expense [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnalysisOfIncomeAndExpenseAbstract" xlink:to="label_AnalysisOfIncomeAndExpenseAbstract" xlink:title="Label : AnalysisOfIncomeAndExpenseAbstract to label_AnalysisOfIncomeAndExpenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AnalysisOfIncomeAndExpenseAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnalysisOfIncomeAndExpenseAbstract_1" xml:lang="en-US" id="label_AnalysisOfIncomeAndExpenseAbstract_1">Indemnity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnalysisOfIncomeAndExpenseAbstract" xlink:to="label_AnalysisOfIncomeAndExpenseAbstract_1" xlink:title="Label : AnalysisOfIncomeAndExpenseAbstract to label_AnalysisOfIncomeAndExpenseAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsLossesOnLitigationSettlements" xlink:label="GainsLossesOnLitigationSettlements" xlink:title="GainsLossesOnLitigationSettlements" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnLitigationSettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnLitigationSettlements" xml:lang="en-US" id="label_GainsLossesOnLitigationSettlements">Gains (losses) on litigation settlements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnLitigationSettlements" xlink:to="label_GainsLossesOnLitigationSettlements" xlink:title="Label : GainsLossesOnLitigationSettlements to label_GainsLossesOnLitigationSettlements" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnLitigationSettlements_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnLitigationSettlements_1" xml:lang="en-US" id="label_GainsLossesOnLitigationSettlements_1">Settlement of disputes in the renewal process</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnLitigationSettlements" xlink:to="label_GainsLossesOnLitigationSettlements_1" xlink:title="Label : GainsLossesOnLitigationSettlements to label_GainsLossesOnLitigationSettlements_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxCredits" xlink:label="TaxCredits" xlink:title="TaxCredits" />
    <link:label xlink:type="resource" xlink:label="label_TaxCredits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxCredits" xml:lang="en-US" id="label_TaxCredits">The amount of tax credits recognized as other income (expense), net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxCredits" xlink:to="label_TaxCredits" xlink:title="Label : TaxCredits to label_TaxCredits" />
    <link:label xlink:type="resource" xlink:label="label_TaxCredits_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxCredits_1" xml:lang="en-US" id="label_TaxCredits_1">Tax Credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxCredits" xlink:to="label_TaxCredits_1" xlink:title="Label : TaxCredits to label_TaxCredits_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxCredits_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxCredits_2" xml:lang="en-US" id="label_TaxCredits_2">Tax credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxCredits" xlink:to="label_TaxCredits_2" xlink:title="Label : TaxCredits to label_TaxCredits_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:label="GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:title="GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xml:lang="en-US" id="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles">Gains losses on disposals of noncurrent assets and intangibles.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:to="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:title="Label : GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles to label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_1" xml:lang="en-US" id="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_1">Gain (loss) on disposal of non-current assets and intangibles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:to="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_1" xlink:title="Label : GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles to label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_1" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_2" xml:lang="en-US" id="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_2">Gains losses on disposals of noncurrent assets and intangibles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" xlink:to="label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_2" xlink:title="Label : GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles to label_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReimbursementOfGasLossesInProcess" xlink:label="ReimbursementOfGasLossesInProcess" xlink:title="ReimbursementOfGasLossesInProcess" />
    <link:label xlink:type="resource" xlink:label="label_ReimbursementOfGasLossesInProcess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReimbursementOfGasLossesInProcess" xml:lang="en-US" id="label_ReimbursementOfGasLossesInProcess">Reimbursement of natural gas loss in the process</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfGasLossesInProcess" xlink:to="label_ReimbursementOfGasLossesInProcess" xlink:title="Label : ReimbursementOfGasLossesInProcess to label_ReimbursementOfGasLossesInProcess" />
    <link:label xlink:type="resource" xlink:label="label_ReimbursementOfGasLossesInProcess_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReimbursementOfGasLossesInProcess_1" xml:lang="en-US" id="label_ReimbursementOfGasLossesInProcess_1">The amount of reimbursement of gas losses in the process recognized as other income (expense), net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfGasLossesInProcess" xlink:to="label_ReimbursementOfGasLossesInProcess_1" xlink:title="Label : ReimbursementOfGasLossesInProcess to label_ReimbursementOfGasLossesInProcess_1" />
    <link:label xlink:type="resource" xlink:label="label_ReimbursementOfGasLossesInProcess_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReimbursementOfGasLossesInProcess_2" xml:lang="en-US" id="label_ReimbursementOfGasLossesInProcess_2">Reimbursement of Gas Losses in Process</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReimbursementOfGasLossesInProcess" xlink:to="label_ReimbursementOfGasLossesInProcess_2" xlink:title="Label : ReimbursementOfGasLossesInProcess to label_ReimbursementOfGasLossesInProcess_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GainLossOnCompensationClaims" xlink:label="GainLossOnCompensationClaims" xlink:title="GainLossOnCompensationClaims" />
    <link:label xlink:type="resource" xlink:label="label_GainLossOnCompensationClaims" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainLossOnCompensationClaims" xml:lang="en-US" id="label_GainLossOnCompensationClaims">Gain (Loss) on Compensation Claims</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossOnCompensationClaims" xlink:to="label_GainLossOnCompensationClaims" xlink:title="Label : GainLossOnCompensationClaims to label_GainLossOnCompensationClaims" />
    <link:label xlink:type="resource" xlink:label="label_GainLossOnCompensationClaims_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GainLossOnCompensationClaims_1" xml:lang="en-US" id="label_GainLossOnCompensationClaims_1">The amount of gain (loss) on compensation claims recognized as other income (expense), net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossOnCompensationClaims" xlink:to="label_GainLossOnCompensationClaims_1" xlink:title="Label : GainLossOnCompensationClaims to label_GainLossOnCompensationClaims_1" />
    <link:label xlink:type="resource" xlink:label="label_GainLossOnCompensationClaims_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainLossOnCompensationClaims_2" xml:lang="en-US" id="label_GainLossOnCompensationClaims_2">Gain on compensation claims</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainLossOnCompensationClaims" xlink:to="label_GainLossOnCompensationClaims_2" xlink:title="Label : GainLossOnCompensationClaims to label_GainLossOnCompensationClaims_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NetEffectOfLegalProceedings" xlink:label="NetEffectOfLegalProceedings" xlink:title="NetEffectOfLegalProceedings" />
    <link:label xlink:type="resource" xlink:label="label_NetEffectOfLegalProceedings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetEffectOfLegalProceedings" xml:lang="en-US" id="label_NetEffectOfLegalProceedings">Net Effect Of Legal Proceedings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetEffectOfLegalProceedings" xlink:to="label_NetEffectOfLegalProceedings" xlink:title="Label : NetEffectOfLegalProceedings to label_NetEffectOfLegalProceedings" />
    <link:label xlink:type="resource" xlink:label="label_NetEffectOfLegalProceedings_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NetEffectOfLegalProceedings_1" xml:lang="en-US" id="label_NetEffectOfLegalProceedings_1">The amount of net effect of legal proceedings recognized as other income (expense), net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetEffectOfLegalProceedings" xlink:to="label_NetEffectOfLegalProceedings_1" xlink:title="Label : NetEffectOfLegalProceedings to label_NetEffectOfLegalProceedings_1" />
    <link:label xlink:type="resource" xlink:label="label_NetEffectOfLegalProceedings_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetEffectOfLegalProceedings_2" xml:lang="en-US" id="label_NetEffectOfLegalProceedings_2">Net effect of legal proceedings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetEffectOfLegalProceedings" xlink:to="label_NetEffectOfLegalProceedings_2" xlink:title="Label : NetEffectOfLegalProceedings to label_NetEffectOfLegalProceedings_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DepreciationRightofuseAssets" xlink:label="DepreciationRightofuseAssets" xlink:title="DepreciationRightofuseAssets" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationRightofuseAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_DepreciationRightofuseAssets" xml:lang="en-US" id="label_DepreciationRightofuseAssets">Depreciation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationRightofuseAssets" xlink:to="label_DepreciationRightofuseAssets" xlink:title="Label : DepreciationRightofuseAssets to label_DepreciationRightofuseAssets" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationRightofuseAssets_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DepreciationRightofuseAssets_1" xml:lang="en-US" id="label_DepreciationRightofuseAssets_1">Depreciation of right-of-use</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationRightofuseAssets" xlink:to="label_DepreciationRightofuseAssets_1" xlink:title="Label : DepreciationRightofuseAssets to label_DepreciationRightofuseAssets_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CreditSalesToThirdParties" xlink:label="CreditSalesToThirdParties" xlink:title="CreditSalesToThirdParties" />
    <link:label xlink:type="resource" xlink:label="label_CreditSalesToThirdParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CreditSalesToThirdParties" xml:lang="en-US" id="label_CreditSalesToThirdParties">Credit sales to third parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditSalesToThirdParties" xlink:to="label_CreditSalesToThirdParties" xlink:title="Label : CreditSalesToThirdParties to label_CreditSalesToThirdParties" />
    <link:label xlink:type="resource" xlink:label="label_CreditSalesToThirdParties_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CreditSalesToThirdParties_1" xml:lang="en-US" id="label_CreditSalesToThirdParties_1">Disposal of credit rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditSalesToThirdParties" xlink:to="label_CreditSalesToThirdParties_1" xlink:title="Label : CreditSalesToThirdParties to label_CreditSalesToThirdParties_1" />
    <link:label xlink:type="resource" xlink:label="label_CreditSalesToThirdParties_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CreditSalesToThirdParties_2" xml:lang="en-US" id="label_CreditSalesToThirdParties_2">Credit Sales To Third Parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CreditSalesToThirdParties" xlink:to="label_CreditSalesToThirdParties_2" xlink:title="Label : CreditSalesToThirdParties to label_CreditSalesToThirdParties_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLoss" xlink:label="ImpairmentLossRecognisedInProfitOrLoss" xlink:title="ImpairmentLossRecognisedInProfitOrLoss" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossRecognisedInProfitOrLoss" xlink:title="Label : ImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossRecognisedInProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_ImpairmentLossRecognisedInProfitOrLoss_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ImpairmentLossRecognisedInProfitOrLoss_1" xml:lang="en-US" id="label_ImpairmentLossRecognisedInProfitOrLoss_1">Loss on impairment (Note 12.2)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentLossRecognisedInProfitOrLoss" xlink:to="label_ImpairmentLossRecognisedInProfitOrLoss_1" xlink:title="Label : ImpairmentLossRecognisedInProfitOrLoss to label_ImpairmentLossRecognisedInProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherExpenseIncome" xlink:label="OtherExpenseIncome" xlink:title="OtherExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherExpenseIncome" xml:lang="en-US" id="label_OtherExpenseIncome">Other Expense Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseIncome" xlink:to="label_OtherExpenseIncome" xlink:title="Label : OtherExpenseIncome to label_OtherExpenseIncome" />
    <link:label xlink:type="resource" xlink:label="label_OtherExpenseIncome_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherExpenseIncome_1" xml:lang="en-US" id="label_OtherExpenseIncome_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseIncome" xlink:to="label_OtherExpenseIncome_1" xlink:title="Label : OtherExpenseIncome to label_OtherExpenseIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherExpenseIncome_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherExpenseIncome_2" xml:lang="en-US" id="label_OtherExpenseIncome_2">Other expense income.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherExpenseIncome" xlink:to="label_OtherExpenseIncome_2" xlink:title="Label : OtherExpenseIncome to label_OtherExpenseIncome_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherOperatingIncomeAndExpenseNetTable" xlink:label="OtherOperatingIncomeAndExpenseNetTable" xlink:title="OtherOperatingIncomeAndExpenseNetTable" />
    <link:label xlink:type="resource" xlink:label="label_OtherOperatingIncomeAndExpenseNetTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherOperatingIncomeAndExpenseNetTable" xml:lang="en-US" id="label_OtherOperatingIncomeAndExpenseNetTable">Other Operating Income and Expense Net [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeAndExpenseNetTable" xlink:to="label_OtherOperatingIncomeAndExpenseNetTable" xlink:title="Label : OtherOperatingIncomeAndExpenseNetTable to label_OtherOperatingIncomeAndExpenseNetTable" />
    <link:label xlink:type="resource" xlink:label="label_OtherOperatingIncomeAndExpenseNetTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherOperatingIncomeAndExpenseNetTable_1" xml:lang="en-US" id="label_OtherOperatingIncomeAndExpenseNetTable_1">Other Operating Income and Expense Net [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeAndExpenseNetTable" xlink:to="label_OtherOperatingIncomeAndExpenseNetTable_1" xlink:title="Label : OtherOperatingIncomeAndExpenseNetTable to label_OtherOperatingIncomeAndExpenseNetTable_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherOperatingIncomeAndExpenseNetTable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherOperatingIncomeAndExpenseNetTable_2" xml:lang="en-US" id="label_OtherOperatingIncomeAndExpenseNetTable_2">Other operating income and expense net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeAndExpenseNetTable" xlink:to="label_OtherOperatingIncomeAndExpenseNetTable_2" xlink:title="Label : OtherOperatingIncomeAndExpenseNetTable to label_OtherOperatingIncomeAndExpenseNetTable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IndemnificationsMember" xlink:label="IndemnificationsMember" xlink:title="IndemnificationsMember" />
    <link:label xlink:type="resource" xlink:label="label_IndemnificationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndemnificationsMember" xml:lang="en-US" id="label_IndemnificationsMember">Indemnifications [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndemnificationsMember" xlink:to="label_IndemnificationsMember" xlink:title="Label : IndemnificationsMember to label_IndemnificationsMember" />
    <link:label xlink:type="resource" xlink:label="label_IndemnificationsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndemnificationsMember_1" xml:lang="en-US" id="label_IndemnificationsMember_1">Indemnifications [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndemnificationsMember" xlink:to="label_IndemnificationsMember_1" xlink:title="Label : IndemnificationsMember to label_IndemnificationsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IndemnificationsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndemnificationsMember_2" xml:lang="en-US" id="label_IndemnificationsMember_2">Indemnifications.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndemnificationsMember" xlink:to="label_IndemnificationsMember_2" xlink:title="Label : IndemnificationsMember to label_IndemnificationsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherOperatingIncomeAndExpenseNetLineItems" xlink:label="OtherOperatingIncomeAndExpenseNetLineItems" xlink:title="OtherOperatingIncomeAndExpenseNetLineItems" />
    <link:label xlink:type="resource" xlink:label="label_OtherOperatingIncomeAndExpenseNetLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherOperatingIncomeAndExpenseNetLineItems" xml:lang="en-US" id="label_OtherOperatingIncomeAndExpenseNetLineItems">Other Operating Income And Expense Net [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeAndExpenseNetLineItems" xlink:to="label_OtherOperatingIncomeAndExpenseNetLineItems" xlink:title="Label : OtherOperatingIncomeAndExpenseNetLineItems to label_OtherOperatingIncomeAndExpenseNetLineItems" />
    <link:label xlink:type="resource" xlink:label="label_OtherOperatingIncomeAndExpenseNetLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherOperatingIncomeAndExpenseNetLineItems_1" xml:lang="en-US" id="label_OtherOperatingIncomeAndExpenseNetLineItems_1">Other Operating Income And Expense Net [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeAndExpenseNetLineItems" xlink:to="label_OtherOperatingIncomeAndExpenseNetLineItems_1" xlink:title="Label : OtherOperatingIncomeAndExpenseNetLineItems to label_OtherOperatingIncomeAndExpenseNetLineItems_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherOperatingIncomeAndExpenseNetLineItems_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherOperatingIncomeAndExpenseNetLineItems_2" xml:lang="en-US" id="label_OtherOperatingIncomeAndExpenseNetLineItems_2">Other Operating Income And Expense Net [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherOperatingIncomeAndExpenseNetLineItems" xlink:to="label_OtherOperatingIncomeAndExpenseNetLineItems_2" xlink:title="Label : OtherOperatingIncomeAndExpenseNetLineItems to label_OtherOperatingIncomeAndExpenseNetLineItems_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RecognizedGainLossOnAssignmentOfCreditRights" xlink:label="RecognizedGainLossOnAssignmentOfCreditRights" xlink:title="RecognizedGainLossOnAssignmentOfCreditRights" />
    <link:label xlink:type="resource" xlink:label="label_RecognizedGainLossOnAssignmentOfCreditRights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RecognizedGainLossOnAssignmentOfCreditRights" xml:lang="en-US" id="label_RecognizedGainLossOnAssignmentOfCreditRights">Recognized Gain Loss On Assignment Of Credit Rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RecognizedGainLossOnAssignmentOfCreditRights" xlink:to="label_RecognizedGainLossOnAssignmentOfCreditRights" xlink:title="Label : RecognizedGainLossOnAssignmentOfCreditRights to label_RecognizedGainLossOnAssignmentOfCreditRights" />
    <link:label xlink:type="resource" xlink:label="label_RecognizedGainLossOnAssignmentOfCreditRights_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RecognizedGainLossOnAssignmentOfCreditRights_1" xml:lang="en-US" id="label_RecognizedGainLossOnAssignmentOfCreditRights_1">Recognized Gain Loss On Assignment Of Credit Rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RecognizedGainLossOnAssignmentOfCreditRights" xlink:to="label_RecognizedGainLossOnAssignmentOfCreditRights_1" xlink:title="Label : RecognizedGainLossOnAssignmentOfCreditRights to label_RecognizedGainLossOnAssignmentOfCreditRights_1" />
    <link:label xlink:type="resource" xlink:label="label_RecognizedGainLossOnAssignmentOfCreditRights_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RecognizedGainLossOnAssignmentOfCreditRights_2" xml:lang="en-US" id="label_RecognizedGainLossOnAssignmentOfCreditRights_2">Recognized gain loss on assignment of credit rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RecognizedGainLossOnAssignmentOfCreditRights" xlink:to="label_RecognizedGainLossOnAssignmentOfCreditRights_2" xlink:title="Label : RecognizedGainLossOnAssignmentOfCreditRights to label_RecognizedGainLossOnAssignmentOfCreditRights_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdditionalPaymentPercentageOfCreditRights" xlink:label="AdditionalPaymentPercentageOfCreditRights" xlink:title="AdditionalPaymentPercentageOfCreditRights" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaymentPercentageOfCreditRights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalPaymentPercentageOfCreditRights" xml:lang="en-US" id="label_AdditionalPaymentPercentageOfCreditRights">Additional Payment Percentage Of Credit Rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaymentPercentageOfCreditRights" xlink:to="label_AdditionalPaymentPercentageOfCreditRights" xlink:title="Label : AdditionalPaymentPercentageOfCreditRights to label_AdditionalPaymentPercentageOfCreditRights" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaymentPercentageOfCreditRights_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalPaymentPercentageOfCreditRights_1" xml:lang="en-US" id="label_AdditionalPaymentPercentageOfCreditRights_1">Additional Payment Percentage Of Credit Rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaymentPercentageOfCreditRights" xlink:to="label_AdditionalPaymentPercentageOfCreditRights_1" xlink:title="Label : AdditionalPaymentPercentageOfCreditRights to label_AdditionalPaymentPercentageOfCreditRights_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaymentPercentageOfCreditRights_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdditionalPaymentPercentageOfCreditRights_2" xml:lang="en-US" id="label_AdditionalPaymentPercentageOfCreditRights_2">Additional payment percentage of credit rights.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaymentPercentageOfCreditRights" xlink:to="label_AdditionalPaymentPercentageOfCreditRights_2" xlink:title="Label : AdditionalPaymentPercentageOfCreditRights to label_AdditionalPaymentPercentageOfCreditRights_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LossesOnLitigationSettlements" xlink:label="LossesOnLitigationSettlements" xlink:title="LossesOnLitigationSettlements" />
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    <link:label xlink:type="resource" xlink:label="label_LossesOnLitigationSettlements_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LossesOnLitigationSettlements_1" xml:lang="en-US" id="label_LossesOnLitigationSettlements_1">Negative effect recorded due to administrative and judicial disputes involving the Granting Authority and&#xA0;Rumo&#xA0;Malha&#xA0;Paulista</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LossesOnLitigationSettlements" xlink:to="label_LossesOnLitigationSettlements_1" xlink:title="Label : LossesOnLitigationSettlements to label_LossesOnLitigationSettlements_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinancialResultsAbstract" xlink:label="FinancialResultsAbstract" xlink:title="FinancialResultsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResultsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialResultsAbstract" xml:lang="en-US" id="label_FinancialResultsAbstract">Financial results [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResultsAbstract" xlink:to="label_FinancialResultsAbstract" xlink:title="Label : FinancialResultsAbstract to label_FinancialResultsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_FinancialResultsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinancialResultsAbstract_1" xml:lang="en-US" id="label_FinancialResultsAbstract_1">Financial results.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialResultsAbstract" xlink:to="label_FinancialResultsAbstract_1" xlink:title="Label : FinancialResultsAbstract to label_FinancialResultsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestExpenseOnDebtInstrumentsIssued" xlink:label="InterestExpenseOnDebtInstrumentsIssued" xlink:title="InterestExpenseOnDebtInstrumentsIssued" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnDebtInstrumentsIssued" xlink:to="label_InterestExpenseOnDebtInstrumentsIssued" xlink:title="Label : InterestExpenseOnDebtInstrumentsIssued to label_InterestExpenseOnDebtInstrumentsIssued" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnDebtInstrumentsIssued_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpenseOnDebtInstrumentsIssued_1" xml:lang="en-US" id="label_InterestExpenseOnDebtInstrumentsIssued_1">Interest on debt</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:title="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_1" xlink:title="Label : GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss to label_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:label="InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:title="InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:to="label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_1" xlink:title="Label : InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss to label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_2" xml:lang="en-US" id="label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_2">Interest income on derivatives at fair value through profit or loss.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" xlink:to="label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_2" xlink:title="Label : InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss to label_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmortizationOfBorrowingCost" xlink:label="AmortizationOfBorrowingCost" xlink:title="AmortizationOfBorrowingCost" />
    <link:label xlink:type="resource" xlink:label="label_AmortizationOfBorrowingCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmortizationOfBorrowingCost" xml:lang="en-US" id="label_AmortizationOfBorrowingCost">Amortization of borrowing cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfBorrowingCost" xlink:to="label_AmortizationOfBorrowingCost" xlink:title="Label : AmortizationOfBorrowingCost to label_AmortizationOfBorrowingCost" />
    <link:label xlink:type="resource" xlink:label="label_AmortizationOfBorrowingCost_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AmortizationOfBorrowingCost_1" xml:lang="en-US" id="label_AmortizationOfBorrowingCost_1">Amortization of borrowing costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfBorrowingCost" xlink:to="label_AmortizationOfBorrowingCost_1" xlink:title="Label : AmortizationOfBorrowingCost to label_AmortizationOfBorrowingCost_1" />
    <link:label xlink:type="resource" xlink:label="label_AmortizationOfBorrowingCost_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmortizationOfBorrowingCost_2" xml:lang="en-US" id="label_AmortizationOfBorrowingCost_2">Amortization of borrowing cost.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmortizationOfBorrowingCost" xlink:to="label_AmortizationOfBorrowingCost_2" xlink:title="Label : AmortizationOfBorrowingCost to label_AmortizationOfBorrowingCost_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinanceAndWarrantiesOnDebt" xlink:label="FinanceAndWarrantiesOnDebt" xlink:title="FinanceAndWarrantiesOnDebt" />
    <link:label xlink:type="resource" xlink:label="label_FinanceAndWarrantiesOnDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinanceAndWarrantiesOnDebt" xml:lang="en-US" id="label_FinanceAndWarrantiesOnDebt">Finance And Warranties On Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceAndWarrantiesOnDebt" xlink:to="label_FinanceAndWarrantiesOnDebt" xlink:title="Label : FinanceAndWarrantiesOnDebt to label_FinanceAndWarrantiesOnDebt" />
    <link:label xlink:type="resource" xlink:label="label_FinanceAndWarrantiesOnDebt_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinanceAndWarrantiesOnDebt_1" xml:lang="en-US" id="label_FinanceAndWarrantiesOnDebt_1">Guarantees and warranties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceAndWarrantiesOnDebt" xlink:to="label_FinanceAndWarrantiesOnDebt_1" xlink:title="Label : FinanceAndWarrantiesOnDebt to label_FinanceAndWarrantiesOnDebt_1" />
    <link:label xlink:type="resource" xlink:label="label_FinanceAndWarrantiesOnDebt_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinanceAndWarrantiesOnDebt_2" xml:lang="en-US" id="label_FinanceAndWarrantiesOnDebt_2">Finance and warranties on debt.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinanceAndWarrantiesOnDebt" xlink:to="label_FinanceAndWarrantiesOnDebt_2" xlink:title="Label : FinanceAndWarrantiesOnDebt to label_FinanceAndWarrantiesOnDebt_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfDebtGross" xlink:label="CostOfDebtGross" xlink:title="CostOfDebtGross" />
    <link:label xlink:type="resource" xlink:label="label_CostOfDebtGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfDebtGross" xml:lang="en-US" id="label_CostOfDebtGross">Cost Of Debt Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfDebtGross" xlink:to="label_CostOfDebtGross" xlink:title="Label : CostOfDebtGross to label_CostOfDebtGross" />
    <link:label xlink:type="resource" xlink:label="label_CostOfDebtGross_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_CostOfDebtGross_1" xml:lang="en-US" id="label_CostOfDebtGross_1">Cost of gross debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfDebtGross" xlink:to="label_CostOfDebtGross_1" xlink:title="Label : CostOfDebtGross to label_CostOfDebtGross_1" />
    <link:label xlink:type="resource" xlink:label="label_CostOfDebtGross_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CostOfDebtGross_2" xml:lang="en-US" id="label_CostOfDebtGross_2">Cost Of Debt Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfDebtGross" xlink:to="label_CostOfDebtGross_2" xlink:title="Label : CostOfDebtGross to label_CostOfDebtGross_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestIncomeOnOtherFinancialAssets" xlink:label="InterestIncomeOnOtherFinancialAssets" xlink:title="InterestIncomeOnOtherFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_InterestIncomeOnOtherFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestIncomeOnOtherFinancialAssets" xml:lang="en-US" id="label_InterestIncomeOnOtherFinancialAssets">Interest income on other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeOnOtherFinancialAssets" xlink:to="label_InterestIncomeOnOtherFinancialAssets" xlink:title="Label : InterestIncomeOnOtherFinancialAssets to label_InterestIncomeOnOtherFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_InterestIncomeOnOtherFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_InterestIncomeOnOtherFinancialAssets_1" xml:lang="en-US" id="label_InterestIncomeOnOtherFinancialAssets_1">Total Income from financial investment and exchange rate in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeOnOtherFinancialAssets" xlink:to="label_InterestIncomeOnOtherFinancialAssets_1" xlink:title="Label : InterestIncomeOnOtherFinancialAssets to label_InterestIncomeOnOtherFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfDebtNet" xlink:label="CostOfDebtNet" xlink:title="CostOfDebtNet" />
    <link:label xlink:type="resource" xlink:label="label_CostOfDebtNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfDebtNet" xml:lang="en-US" id="label_CostOfDebtNet">Cost Of Debt Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfDebtNet" xlink:to="label_CostOfDebtNet" xlink:title="Label : CostOfDebtNet to label_CostOfDebtNet" />
    <link:label xlink:type="resource" xlink:label="label_CostOfDebtNet_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_CostOfDebtNet_1" xml:lang="en-US" id="label_CostOfDebtNet_1">Cost of debt, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfDebtNet" xlink:to="label_CostOfDebtNet_1" xlink:title="Label : CostOfDebtNet to label_CostOfDebtNet_1" />
    <link:label xlink:type="resource" xlink:label="label_CostOfDebtNet_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CostOfDebtNet_2" xml:lang="en-US" id="label_CostOfDebtNet_2">Cost Of Debt Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfDebtNet" xlink:to="label_CostOfDebtNet_2" xlink:title="Label : CostOfDebtNet to label_CostOfDebtNet_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestOnOtherReceivables" xlink:label="InterestOnOtherReceivables" xlink:title="InterestOnOtherReceivables" />
    <link:label xlink:type="resource" xlink:label="label_InterestOnOtherReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestOnOtherReceivables" xml:lang="en-US" id="label_InterestOnOtherReceivables">Interest on other receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnOtherReceivables" xlink:to="label_InterestOnOtherReceivables" xlink:title="Label : InterestOnOtherReceivables to label_InterestOnOtherReceivables" />
    <link:label xlink:type="resource" xlink:label="label_InterestOnOtherReceivables_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestOnOtherReceivables_1" xml:lang="en-US" id="label_InterestOnOtherReceivables_1">Interest on other receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnOtherReceivables" xlink:to="label_InterestOnOtherReceivables_1" xlink:title="Label : InterestOnOtherReceivables to label_InterestOnOtherReceivables_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestOnOtherReceivables_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestOnOtherReceivables_2" xml:lang="en-US" id="label_InterestOnOtherReceivables_2">Interest on other receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnOtherReceivables" xlink:to="label_InterestOnOtherReceivables_2" xlink:title="Label : InterestOnOtherReceivables to label_InterestOnOtherReceivables_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestExpenseOnOtherPayables" xlink:label="InterestExpenseOnOtherPayables" xlink:title="InterestExpenseOnOtherPayables" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnOtherPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpenseOnOtherPayables" xml:lang="en-US" id="label_InterestExpenseOnOtherPayables">Interest Expense on Other Payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnOtherPayables" xlink:to="label_InterestExpenseOnOtherPayables" xlink:title="Label : InterestExpenseOnOtherPayables to label_InterestExpenseOnOtherPayables" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnOtherPayables_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestExpenseOnOtherPayables_1" xml:lang="en-US" id="label_InterestExpenseOnOtherPayables_1">The amount of interest expense on other payables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnOtherPayables" xlink:to="label_InterestExpenseOnOtherPayables_1" xlink:title="Label : InterestExpenseOnOtherPayables to label_InterestExpenseOnOtherPayables_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnOtherPayables_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpenseOnOtherPayables_2" xml:lang="en-US" id="label_InterestExpenseOnOtherPayables_2">Interest on other payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnOtherPayables" xlink:to="label_InterestExpenseOnOtherPayables_2" xlink:title="Label : InterestExpenseOnOtherPayables to label_InterestExpenseOnOtherPayables_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:label="OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:title="OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" />
    <link:label xlink:type="resource" xlink:label="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xml:lang="en-US" id="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable">Other Charges and Monetary Variations of Interest on Leases Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:to="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:title="Label : OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable to label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" />
    <link:label xlink:type="resource" xlink:label="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_1" xml:lang="en-US" id="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_1">Interest on leases payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:to="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_1" xlink:title="Label : OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable to label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_2" xml:lang="en-US" id="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_2">The amount of finance expense on other charges and monetary variations of interest on leases payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" xlink:to="label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_2" xlink:title="Label : OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable to label_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdvancesOnRealEstateCredits" xlink:label="AdvancesOnRealEstateCredits" xlink:title="AdvancesOnRealEstateCredits" />
    <link:label xlink:type="resource" xlink:label="label_AdvancesOnRealEstateCredits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdvancesOnRealEstateCredits" xml:lang="en-US" id="label_AdvancesOnRealEstateCredits">Advances on real estate credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvancesOnRealEstateCredits" xlink:to="label_AdvancesOnRealEstateCredits" xlink:title="Label : AdvancesOnRealEstateCredits to label_AdvancesOnRealEstateCredits" />
    <link:label xlink:type="resource" xlink:label="label_AdvancesOnRealEstateCredits_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdvancesOnRealEstateCredits_1" xml:lang="en-US" id="label_AdvancesOnRealEstateCredits_1">Advances on real state credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvancesOnRealEstateCredits" xlink:to="label_AdvancesOnRealEstateCredits_1" xlink:title="Label : AdvancesOnRealEstateCredits to label_AdvancesOnRealEstateCredits_1" />
    <link:label xlink:type="resource" xlink:label="label_AdvancesOnRealEstateCredits_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdvancesOnRealEstateCredits_2" xml:lang="en-US" id="label_AdvancesOnRealEstateCredits_2">Advances on real estate credits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvancesOnRealEstateCredits" xlink:to="label_AdvancesOnRealEstateCredits_2" xlink:title="Label : AdvancesOnRealEstateCredits to label_AdvancesOnRealEstateCredits_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestExpenseOnShareholdersEquity" xlink:label="InterestExpenseOnShareholdersEquity" xlink:title="InterestExpenseOnShareholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnShareholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpenseOnShareholdersEquity" xml:lang="en-US" id="label_InterestExpenseOnShareholdersEquity">Interest expense on shareholders equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnShareholdersEquity" xlink:to="label_InterestExpenseOnShareholdersEquity" xlink:title="Label : InterestExpenseOnShareholdersEquity to label_InterestExpenseOnShareholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnShareholdersEquity_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpenseOnShareholdersEquity_1" xml:lang="en-US" id="label_InterestExpenseOnShareholdersEquity_1">Interest on shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnShareholdersEquity" xlink:to="label_InterestExpenseOnShareholdersEquity_1" xlink:title="Label : InterestExpenseOnShareholdersEquity to label_InterestExpenseOnShareholdersEquity_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnShareholdersEquity_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestExpenseOnShareholdersEquity_2" xml:lang="en-US" id="label_InterestExpenseOnShareholdersEquity_2">Interest expense on shareholders equity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnShareholdersEquity" xlink:to="label_InterestExpenseOnShareholdersEquity_2" xlink:title="Label : InterestExpenseOnShareholdersEquity to label_InterestExpenseOnShareholdersEquity_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestExpenseOnContingenciesAndContracts" xlink:label="InterestExpenseOnContingenciesAndContracts" xlink:title="InterestExpenseOnContingenciesAndContracts" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnContingenciesAndContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpenseOnContingenciesAndContracts" xml:lang="en-US" id="label_InterestExpenseOnContingenciesAndContracts">Interest expense on contingencies and contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnContingenciesAndContracts" xlink:to="label_InterestExpenseOnContingenciesAndContracts" xlink:title="Label : InterestExpenseOnContingenciesAndContracts to label_InterestExpenseOnContingenciesAndContracts" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnContingenciesAndContracts_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpenseOnContingenciesAndContracts_1" xml:lang="en-US" id="label_InterestExpenseOnContingenciesAndContracts_1">Interest on contingencies and contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnContingenciesAndContracts" xlink:to="label_InterestExpenseOnContingenciesAndContracts_1" xlink:title="Label : InterestExpenseOnContingenciesAndContracts to label_InterestExpenseOnContingenciesAndContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnContingenciesAndContracts_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestExpenseOnContingenciesAndContracts_2" xml:lang="en-US" id="label_InterestExpenseOnContingenciesAndContracts_2">Interest expense on contingencies and contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnContingenciesAndContracts" xlink:to="label_InterestExpenseOnContingenciesAndContracts_2" xlink:title="Label : InterestExpenseOnContingenciesAndContracts to label_InterestExpenseOnContingenciesAndContracts_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BankAndSimilarCharges" xlink:label="BankAndSimilarCharges" xlink:title="BankAndSimilarCharges" />
    <link:label xlink:type="resource" xlink:label="label_BankAndSimilarCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BankAndSimilarCharges" xml:lang="en-US" id="label_BankAndSimilarCharges">Bank and similar charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankAndSimilarCharges" xlink:to="label_BankAndSimilarCharges" xlink:title="Label : BankAndSimilarCharges to label_BankAndSimilarCharges" />
    <link:label xlink:type="resource" xlink:label="label_BankAndSimilarCharges_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_BankAndSimilarCharges_1" xml:lang="en-US" id="label_BankAndSimilarCharges_1">Bank charges and other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankAndSimilarCharges" xlink:to="label_BankAndSimilarCharges_1" xlink:title="Label : BankAndSimilarCharges to label_BankAndSimilarCharges_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherForeignExchangeNet" xlink:label="OtherForeignExchangeNet" xlink:title="OtherForeignExchangeNet" />
    <link:label xlink:type="resource" xlink:label="label_OtherForeignExchangeNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherForeignExchangeNet" xml:lang="en-US" id="label_OtherForeignExchangeNet">The amount of foreign exchange related to other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherForeignExchangeNet" xlink:to="label_OtherForeignExchangeNet" xlink:title="Label : OtherForeignExchangeNet to label_OtherForeignExchangeNet" />
    <link:label xlink:type="resource" xlink:label="label_OtherForeignExchangeNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherForeignExchangeNet_1" xml:lang="en-US" id="label_OtherForeignExchangeNet_1">Foreign exchange, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherForeignExchangeNet" xlink:to="label_OtherForeignExchangeNet_1" xlink:title="Label : OtherForeignExchangeNet to label_OtherForeignExchangeNet_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherForeignExchangeNet_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherForeignExchangeNet_2" xml:lang="en-US" id="label_OtherForeignExchangeNet_2">Other Foreign Exchange Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherForeignExchangeNet" xlink:to="label_OtherForeignExchangeNet_2" xlink:title="Label : OtherForeignExchangeNet to label_OtherForeignExchangeNet_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherChargesAndMonetaryVariationsNet" xlink:label="OtherChargesAndMonetaryVariationsNet" xlink:title="OtherChargesAndMonetaryVariationsNet" />
    <link:label xlink:type="resource" xlink:label="label_OtherChargesAndMonetaryVariationsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherChargesAndMonetaryVariationsNet" xml:lang="en-US" id="label_OtherChargesAndMonetaryVariationsNet">Other charges and monetary variations, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherChargesAndMonetaryVariationsNet" xlink:to="label_OtherChargesAndMonetaryVariationsNet" xlink:title="Label : OtherChargesAndMonetaryVariationsNet to label_OtherChargesAndMonetaryVariationsNet" />
    <link:label xlink:type="resource" xlink:label="label_OtherChargesAndMonetaryVariationsNet_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_OtherChargesAndMonetaryVariationsNet_1" xml:lang="en-US" id="label_OtherChargesAndMonetaryVariationsNet_1">Other charges and monetary variations net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherChargesAndMonetaryVariationsNet" xlink:to="label_OtherChargesAndMonetaryVariationsNet_1" xlink:title="Label : OtherChargesAndMonetaryVariationsNet to label_OtherChargesAndMonetaryVariationsNet_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherChargesAndMonetaryVariationsNet_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherChargesAndMonetaryVariationsNet_2" xml:lang="en-US" id="label_OtherChargesAndMonetaryVariationsNet_2">Other charges and monetary variations, net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherChargesAndMonetaryVariationsNet" xlink:to="label_OtherChargesAndMonetaryVariationsNet_2" xlink:title="Label : OtherChargesAndMonetaryVariationsNet to label_OtherChargesAndMonetaryVariationsNet_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExchangeVariation" xlink:label="ExchangeVariation" xlink:title="ExchangeVariation" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeVariation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExchangeVariation" xml:lang="en-US" id="label_ExchangeVariation">Exchange variation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeVariation" xlink:to="label_ExchangeVariation" xlink:title="Label : ExchangeVariation to label_ExchangeVariation" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeVariation_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExchangeVariation_1" xml:lang="en-US" id="label_ExchangeVariation_1">Exchange variation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeVariation" xlink:to="label_ExchangeVariation_1" xlink:title="Label : ExchangeVariation to label_ExchangeVariation_1" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeVariation_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExchangeVariation_2" xml:lang="en-US" id="label_ExchangeVariation_2">Exchange variation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeVariation" xlink:to="label_ExchangeVariation_2" xlink:title="Label : ExchangeVariation to label_ExchangeVariation_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExchangeVariationAndNonDebtDerivatives" xlink:label="ExchangeVariationAndNonDebtDerivatives" xlink:title="ExchangeVariationAndNonDebtDerivatives" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeVariationAndNonDebtDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExchangeVariationAndNonDebtDerivatives" xml:lang="en-US" id="label_ExchangeVariationAndNonDebtDerivatives">Exchange Variation and Non Debt Derivatives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeVariationAndNonDebtDerivatives" xlink:to="label_ExchangeVariationAndNonDebtDerivatives" xlink:title="Label : ExchangeVariationAndNonDebtDerivatives to label_ExchangeVariationAndNonDebtDerivatives" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeVariationAndNonDebtDerivatives_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExchangeVariationAndNonDebtDerivatives_1" xml:lang="en-US" id="label_ExchangeVariationAndNonDebtDerivatives_1">The amount of finance expense on exchange variation and non-debt derivatives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeVariationAndNonDebtDerivatives" xlink:to="label_ExchangeVariationAndNonDebtDerivatives_1" xlink:title="Label : ExchangeVariationAndNonDebtDerivatives to label_ExchangeVariationAndNonDebtDerivatives_1" />
    <link:label xlink:type="resource" xlink:label="label_ExchangeVariationAndNonDebtDerivatives_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ExchangeVariationAndNonDebtDerivatives_2" xml:lang="en-US" id="label_ExchangeVariationAndNonDebtDerivatives_2">Foreign exchange, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeVariationAndNonDebtDerivatives" xlink:to="label_ExchangeVariationAndNonDebtDerivatives_2" xlink:title="Label : ExchangeVariationAndNonDebtDerivatives to label_ExchangeVariationAndNonDebtDerivatives_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MonetaryVariationOnLeases" xlink:label="MonetaryVariationOnLeases" xlink:title="MonetaryVariationOnLeases" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOnLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MonetaryVariationOnLeases" xml:lang="en-US" id="label_MonetaryVariationOnLeases">Monetary variation on leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOnLeases" xlink:to="label_MonetaryVariationOnLeases" xlink:title="Label : MonetaryVariationOnLeases to label_MonetaryVariationOnLeases" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOnLeases_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_MonetaryVariationOnLeases_1" xml:lang="en-US" id="label_MonetaryVariationOnLeases_1">Interest on lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOnLeases" xlink:to="label_MonetaryVariationOnLeases_1" xlink:title="Label : MonetaryVariationOnLeases to label_MonetaryVariationOnLeases_1" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOnLeases_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MonetaryVariationOnLeases_2" xml:lang="en-US" id="label_MonetaryVariationOnLeases_2">Monetary variation on leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOnLeases" xlink:to="label_MonetaryVariationOnLeases_2" xlink:title="Label : MonetaryVariationOnLeases to label_MonetaryVariationOnLeases_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InterestExpensesOnOtherFinancialLiabilities" xlink:label="InterestExpensesOnOtherFinancialLiabilities" xlink:title="InterestExpensesOnOtherFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpensesOnOtherFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InterestExpensesOnOtherFinancialLiabilities" xml:lang="en-US" id="label_InterestExpensesOnOtherFinancialLiabilities">Interest expenses on other financial liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpensesOnOtherFinancialLiabilities" xlink:to="label_InterestExpensesOnOtherFinancialLiabilities" xlink:title="Label : InterestExpensesOnOtherFinancialLiabilities to label_InterestExpensesOnOtherFinancialLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpensesOnOtherFinancialLiabilities_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_InterestExpensesOnOtherFinancialLiabilities_1" xml:lang="en-US" id="label_InterestExpensesOnOtherFinancialLiabilities_1">Interest on other payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpensesOnOtherFinancialLiabilities" xlink:to="label_InterestExpensesOnOtherFinancialLiabilities_1" xlink:title="Label : InterestExpensesOnOtherFinancialLiabilities to label_InterestExpensesOnOtherFinancialLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestExpensesOnOtherFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestExpensesOnOtherFinancialLiabilities_2" xml:lang="en-US" id="label_InterestExpensesOnOtherFinancialLiabilities_2">Interest Expenses On Other Financial Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpensesOnOtherFinancialLiabilities" xlink:to="label_InterestExpensesOnOtherFinancialLiabilities_2" xlink:title="Label : InterestExpensesOnOtherFinancialLiabilities to label_InterestExpensesOnOtherFinancialLiabilities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:label="IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:title="IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xml:lang="en-US" id="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents">Income from financial investment and exchange rate in cash and cash equivalents.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:to="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:title="Label : IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents to label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_1" xml:lang="en-US" id="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_1">Income from financial investment and exchange rate in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:to="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_1" xlink:title="Label : IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents to label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_1" />
    <link:label xlink:type="resource" xlink:label="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_2" xml:lang="en-US" id="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_2">Income from financial investment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" xlink:to="label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_2" xlink:title="Label : IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents to label_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:label="MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:title="MonetaryVariationOnLeasesAndConcessionsAgreements" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MonetaryVariationOnLeasesAndConcessionsAgreements" xml:lang="en-US" id="label_MonetaryVariationOnLeasesAndConcessionsAgreements">Monetary variation on leases and concessions agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:to="label_MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:title="Label : MonetaryVariationOnLeasesAndConcessionsAgreements to label_MonetaryVariationOnLeasesAndConcessionsAgreements" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOnLeasesAndConcessionsAgreements_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_MonetaryVariationOnLeasesAndConcessionsAgreements_1" xml:lang="en-US" id="label_MonetaryVariationOnLeasesAndConcessionsAgreements_1">Interest on leases and concessions agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:to="label_MonetaryVariationOnLeasesAndConcessionsAgreements_1" xlink:title="Label : MonetaryVariationOnLeasesAndConcessionsAgreements to label_MonetaryVariationOnLeasesAndConcessionsAgreements_1" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOnLeasesAndConcessionsAgreements_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MonetaryVariationOnLeasesAndConcessionsAgreements_2" xml:lang="en-US" id="label_MonetaryVariationOnLeasesAndConcessionsAgreements_2">Monetary variation on leases and concessions agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOnLeasesAndConcessionsAgreements" xlink:to="label_MonetaryVariationOnLeasesAndConcessionsAgreements_2" xlink:title="Label : MonetaryVariationOnLeasesAndConcessionsAgreements to label_MonetaryVariationOnLeasesAndConcessionsAgreements_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansAbstract" xlink:label="DisclosureOfDefinedBenefitPlansAbstract" xlink:title="DisclosureOfDefinedBenefitPlansAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDefinedBenefitPlansAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDefinedBenefitPlansAbstract" xml:lang="en-US" id="label_DisclosureOfDefinedBenefitPlansAbstract">Disclosure of defined benefit plans [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDefinedBenefitPlansAbstract" xlink:to="label_DisclosureOfDefinedBenefitPlansAbstract" xlink:title="Label : DisclosureOfDefinedBenefitPlansAbstract to label_DisclosureOfDefinedBenefitPlansAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansTable" xlink:label="DisclosureOfDefinedBenefitPlansTable" xlink:title="DisclosureOfDefinedBenefitPlansTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDefinedBenefitPlansTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDefinedBenefitPlansTable" xml:lang="en-US" id="label_DisclosureOfDefinedBenefitPlansTable">Disclosure of defined benefit plans [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDefinedBenefitPlansTable" xlink:to="label_DisclosureOfDefinedBenefitPlansTable" xlink:title="Label : DisclosureOfDefinedBenefitPlansTable to label_DisclosureOfDefinedBenefitPlansTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDefinedBenefitPlansTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDefinedBenefitPlansTable_1" xml:lang="en-US" id="label_DisclosureOfDefinedBenefitPlansTable_1">Disclosure of defined benefit plans [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDefinedBenefitPlansTable" xlink:to="label_DisclosureOfDefinedBenefitPlansTable_1" xlink:title="Label : DisclosureOfDefinedBenefitPlansTable to label_DisclosureOfDefinedBenefitPlansTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="DefinedBenefitPlansAxis" xlink:title="DefinedBenefitPlansAxis" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitPlansAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DefinedBenefitPlansAxis" xml:lang="en-US" id="label_DefinedBenefitPlansAxis">Defined benefit plans [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitPlansAxis" xlink:to="label_DefinedBenefitPlansAxis" xlink:title="Label : DefinedBenefitPlansAxis to label_DefinedBenefitPlansAxis" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitPlansAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DefinedBenefitPlansAxis_1" xml:lang="en-US" id="label_DefinedBenefitPlansAxis_1">Defined benefit plans [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitPlansAxis" xlink:to="label_DefinedBenefitPlansAxis_1" xlink:title="Label : DefinedBenefitPlansAxis to label_DefinedBenefitPlansAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="DefinedBenefitPlansMember" xlink:title="DefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DefinedBenefitPlansMember" xml:lang="en-US" id="label_DefinedBenefitPlansMember">Defined benefit plans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitPlansMember" xlink:to="label_DefinedBenefitPlansMember" xlink:title="Label : DefinedBenefitPlansMember to label_DefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitPlansMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DefinedBenefitPlansMember_1" xml:lang="en-US" id="label_DefinedBenefitPlansMember_1">Defined benefit plans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitPlansMember" xlink:to="label_DefinedBenefitPlansMember_1" xlink:title="Label : DefinedBenefitPlansMember to label_DefinedBenefitPlansMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FuturaTwoPensionPlanMember" xlink:label="FuturaTwoPensionPlanMember" xlink:title="FuturaTwoPensionPlanMember" />
    <link:label xlink:type="resource" xlink:label="label_FuturaTwoPensionPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FuturaTwoPensionPlanMember" xml:lang="en-US" id="label_FuturaTwoPensionPlanMember">Futura Two Pension Plan [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaTwoPensionPlanMember" xlink:to="label_FuturaTwoPensionPlanMember" xlink:title="Label : FuturaTwoPensionPlanMember to label_FuturaTwoPensionPlanMember" />
    <link:label xlink:type="resource" xlink:label="label_FuturaTwoPensionPlanMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FuturaTwoPensionPlanMember_1" xml:lang="en-US" id="label_FuturaTwoPensionPlanMember_1">Futura II [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaTwoPensionPlanMember" xlink:to="label_FuturaTwoPensionPlanMember_1" xlink:title="Label : FuturaTwoPensionPlanMember to label_FuturaTwoPensionPlanMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FuturaTwoPensionPlanMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FuturaTwoPensionPlanMember_2" xml:lang="en-US" id="label_FuturaTwoPensionPlanMember_2">Futura two pension plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaTwoPensionPlanMember" xlink:to="label_FuturaTwoPensionPlanMember_2" xlink:title="Label : FuturaTwoPensionPlanMember to label_FuturaTwoPensionPlanMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FuturaPensionPlanMember" xlink:label="FuturaPensionPlanMember" xlink:title="FuturaPensionPlanMember" />
    <link:label xlink:type="resource" xlink:label="label_FuturaPensionPlanMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FuturaPensionPlanMember" xml:lang="en-US" id="label_FuturaPensionPlanMember">Futura [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaPensionPlanMember" xlink:to="label_FuturaPensionPlanMember" xlink:title="Label : FuturaPensionPlanMember to label_FuturaPensionPlanMember" />
    <link:label xlink:type="resource" xlink:label="label_FuturaPensionPlanMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FuturaPensionPlanMember_1" xml:lang="en-US" id="label_FuturaPensionPlanMember_1">Futura Pension Plan [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaPensionPlanMember" xlink:to="label_FuturaPensionPlanMember_1" xlink:title="Label : FuturaPensionPlanMember to label_FuturaPensionPlanMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FuturaPensionPlanMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FuturaPensionPlanMember_2" xml:lang="en-US" id="label_FuturaPensionPlanMember_2">Defined benefit [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaPensionPlanMember" xlink:to="label_FuturaPensionPlanMember_2" xlink:title="Label : FuturaPensionPlanMember to label_FuturaPensionPlanMember_2" />
    <link:label xlink:type="resource" xlink:label="label_FuturaPensionPlanMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FuturaPensionPlanMember_3" xml:lang="en-US" id="label_FuturaPensionPlanMember_3">Futura pension plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FuturaPensionPlanMember" xlink:to="label_FuturaPensionPlanMember_3" xlink:title="Label : FuturaPensionPlanMember to label_FuturaPensionPlanMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ComgasPensionPlanMember" xlink:label="ComgasPensionPlanMember" xlink:title="ComgasPensionPlanMember" />
    <link:label xlink:type="resource" xlink:label="label_ComgasPensionPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComgasPensionPlanMember" xml:lang="en-US" id="label_ComgasPensionPlanMember">Comgas Pension Plan [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasPensionPlanMember" xlink:to="label_ComgasPensionPlanMember" xlink:title="Label : ComgasPensionPlanMember to label_ComgasPensionPlanMember" />
    <link:label xlink:type="resource" xlink:label="label_ComgasPensionPlanMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComgasPensionPlanMember_1" xml:lang="en-US" id="label_ComgasPensionPlanMember_1">Health plan [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasPensionPlanMember" xlink:to="label_ComgasPensionPlanMember_1" xlink:title="Label : ComgasPensionPlanMember to label_ComgasPensionPlanMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ComgasPensionPlanMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ComgasPensionPlanMember_2" xml:lang="en-US" id="label_ComgasPensionPlanMember_2">Comgas pension plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasPensionPlanMember" xlink:to="label_ComgasPensionPlanMember_2" xlink:title="Label : ComgasPensionPlanMember to label_ComgasPensionPlanMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis" xlink:label="CharacteristicsOfDefinedBenefitPlansAxis" xlink:title="CharacteristicsOfDefinedBenefitPlansAxis" />
    <link:label xlink:type="resource" xlink:label="label_CharacteristicsOfDefinedBenefitPlansAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CharacteristicsOfDefinedBenefitPlansAxis" xml:lang="en-US" id="label_CharacteristicsOfDefinedBenefitPlansAxis">Characteristics of defined benefit plans [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CharacteristicsOfDefinedBenefitPlansAxis" xlink:to="label_CharacteristicsOfDefinedBenefitPlansAxis" xlink:title="Label : CharacteristicsOfDefinedBenefitPlansAxis to label_CharacteristicsOfDefinedBenefitPlansAxis" />
    <link:label xlink:type="resource" xlink:label="label_CharacteristicsOfDefinedBenefitPlansAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CharacteristicsOfDefinedBenefitPlansAxis_1" xml:lang="en-US" id="label_CharacteristicsOfDefinedBenefitPlansAxis_1">Characteristics of defined benefit plans [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CharacteristicsOfDefinedBenefitPlansAxis" xlink:to="label_CharacteristicsOfDefinedBenefitPlansAxis_1" xlink:title="Label : CharacteristicsOfDefinedBenefitPlansAxis to label_CharacteristicsOfDefinedBenefitPlansAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CharacteristicsOfDefinedBenefitPlansMember" xlink:label="CharacteristicsOfDefinedBenefitPlansMember" xlink:title="CharacteristicsOfDefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_CharacteristicsOfDefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CharacteristicsOfDefinedBenefitPlansMember" xml:lang="en-US" id="label_CharacteristicsOfDefinedBenefitPlansMember">Characteristics of defined benefit plans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CharacteristicsOfDefinedBenefitPlansMember" xlink:to="label_CharacteristicsOfDefinedBenefitPlansMember" xlink:title="Label : CharacteristicsOfDefinedBenefitPlansMember to label_CharacteristicsOfDefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_CharacteristicsOfDefinedBenefitPlansMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CharacteristicsOfDefinedBenefitPlansMember_1" xml:lang="en-US" id="label_CharacteristicsOfDefinedBenefitPlansMember_1">Characteristics of defined benefit plans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CharacteristicsOfDefinedBenefitPlansMember" xlink:to="label_CharacteristicsOfDefinedBenefitPlansMember_1" xlink:title="Label : CharacteristicsOfDefinedBenefitPlansMember to label_CharacteristicsOfDefinedBenefitPlansMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DefinedContributionMember" xlink:label="DefinedContributionMember" xlink:title="DefinedContributionMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedContributionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DefinedContributionMember" xml:lang="en-US" id="label_DefinedContributionMember">Defined Contribution [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedContributionMember" xlink:to="label_DefinedContributionMember" xlink:title="Label : DefinedContributionMember to label_DefinedContributionMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedContributionMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DefinedContributionMember_1" xml:lang="en-US" id="label_DefinedContributionMember_1">Defined contribution [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedContributionMember" xlink:to="label_DefinedContributionMember_1" xlink:title="Label : DefinedContributionMember to label_DefinedContributionMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DefinedContributionMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DefinedContributionMember_2" xml:lang="en-US" id="label_DefinedContributionMember_2">Defined contribution.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedContributionMember" xlink:to="label_DefinedContributionMember_2" xlink:title="Label : DefinedContributionMember to label_DefinedContributionMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DefinedBenefitMember" xlink:label="DefinedBenefitMember" xlink:title="DefinedBenefitMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DefinedBenefitMember" xml:lang="en-US" id="label_DefinedBenefitMember">Defined Benefit [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitMember" xlink:to="label_DefinedBenefitMember" xlink:title="Label : DefinedBenefitMember to label_DefinedBenefitMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DefinedBenefitMember_1" xml:lang="en-US" id="label_DefinedBenefitMember_1">Defined benefit [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitMember" xlink:to="label_DefinedBenefitMember_1" xlink:title="Label : DefinedBenefitMember to label_DefinedBenefitMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DefinedBenefitMember_2" xml:lang="en-US" id="label_DefinedBenefitMember_2">Defined benefit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitMember" xlink:to="label_DefinedBenefitMember_2" xlink:title="Label : DefinedBenefitMember to label_DefinedBenefitMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember" xlink:label="PostemploymentMedicalDefinedBenefitPlansMember" xlink:title="PostemploymentMedicalDefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_PostemploymentMedicalDefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PostemploymentMedicalDefinedBenefitPlansMember" xml:lang="en-US" id="label_PostemploymentMedicalDefinedBenefitPlansMember">Post-employment medical defined benefit plans [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PostemploymentMedicalDefinedBenefitPlansMember" xlink:to="label_PostemploymentMedicalDefinedBenefitPlansMember" xlink:title="Label : PostemploymentMedicalDefinedBenefitPlansMember to label_PostemploymentMedicalDefinedBenefitPlansMember" />
    <link:label xlink:type="resource" xlink:label="label_PostemploymentMedicalDefinedBenefitPlansMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PostemploymentMedicalDefinedBenefitPlansMember_1" xml:lang="en-US" id="label_PostemploymentMedicalDefinedBenefitPlansMember_1">Health Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PostemploymentMedicalDefinedBenefitPlansMember" xlink:to="label_PostemploymentMedicalDefinedBenefitPlansMember_1" xlink:title="Label : PostemploymentMedicalDefinedBenefitPlansMember to label_PostemploymentMedicalDefinedBenefitPlansMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansLineItems" xlink:label="DisclosureOfDefinedBenefitPlansLineItems" xlink:title="DisclosureOfDefinedBenefitPlansLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDefinedBenefitPlansLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDefinedBenefitPlansLineItems" xml:lang="en-US" id="label_DisclosureOfDefinedBenefitPlansLineItems">Health Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDefinedBenefitPlansLineItems" xlink:to="label_DisclosureOfDefinedBenefitPlansLineItems" xlink:title="Label : DisclosureOfDefinedBenefitPlansLineItems to label_DisclosureOfDefinedBenefitPlansLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDefinedBenefitPlansLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfDefinedBenefitPlansLineItems_1" xml:lang="en-US" id="label_DisclosureOfDefinedBenefitPlansLineItems_1">Health PlanDisclosure of defined benefit plans [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDefinedBenefitPlansLineItems" xlink:to="label_DisclosureOfDefinedBenefitPlansLineItems_1" xlink:title="Label : DisclosureOfDefinedBenefitPlansLineItems to label_DisclosureOfDefinedBenefitPlansLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:title="PostemploymentBenefitExpenseDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PostemploymentBenefitExpenseDefinedBenefitPlans" xml:lang="en-US" id="label_PostemploymentBenefitExpenseDefinedBenefitPlans">Post-employment benefit expense, defined benefit plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="label_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:title="Label : PostemploymentBenefitExpenseDefinedBenefitPlans to label_PostemploymentBenefitExpenseDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_PostemploymentBenefitExpenseDefinedBenefitPlans_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PostemploymentBenefitExpenseDefinedBenefitPlans_1" xml:lang="en-US" id="label_PostemploymentBenefitExpenseDefinedBenefitPlans_1">Post-employment benefits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="label_PostemploymentBenefitExpenseDefinedBenefitPlans_1" xlink:title="Label : PostemploymentBenefitExpenseDefinedBenefitPlans to label_PostemploymentBenefitExpenseDefinedBenefitPlans_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CLEMember" xlink:label="CLEMember" xlink:title="CLEMember" />
    <link:label xlink:type="resource" xlink:label="label_CLEMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CLEMember" xml:lang="en-US" id="label_CLEMember">CLE [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CLEMember" xlink:to="label_CLEMember" xlink:title="Label : CLEMember to label_CLEMember" />
    <link:label xlink:type="resource" xlink:label="label_CLEMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CLEMember_1" xml:lang="en-US" id="label_CLEMember_1">CLE [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CLEMember" xlink:to="label_CLEMember_1" xlink:title="Label : CLEMember to label_CLEMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CLEMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CLEMember_2" xml:lang="en-US" id="label_CLEMember_2">CLE.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CLEMember" xlink:to="label_CLEMember_2" xlink:title="Label : CLEMember to label_CLEMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DefinedBenefitObligationMember" xlink:label="DefinedBenefitObligationMember" xlink:title="DefinedBenefitObligationMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DefinedBenefitObligationMember" xml:lang="en-US" id="label_DefinedBenefitObligationMember">Defined benefit obligation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitObligationMember" xlink:to="label_DefinedBenefitObligationMember" xlink:title="Label : DefinedBenefitObligationMember to label_DefinedBenefitObligationMember" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitObligationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DefinedBenefitObligationMember_1" xml:lang="en-US" id="label_DefinedBenefitObligationMember_1">Defined benefit obligation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitObligationMember" xlink:to="label_DefinedBenefitObligationMember_1" xlink:title="Label : DefinedBenefitObligationMember to label_DefinedBenefitObligationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DefinedBenefitObligationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DefinedBenefitObligationMember_2" xml:lang="en-US" id="label_DefinedBenefitObligationMember_2">Defined benefit obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DefinedBenefitObligationMember" xlink:to="label_DefinedBenefitObligationMember_2" xlink:title="Label : DefinedBenefitObligationMember to label_DefinedBenefitObligationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xlink:label="ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xlink:title="ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xml:lang="en-US" id="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan">Expected Duration of Contribution to Social Security for Entitled to Defined Benefit Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xlink:to="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xlink:title="Label : ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan to label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_1" xml:lang="en-US" id="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_1">The expected duration of contribution to Social Security (Instituto Nacional do Seguro Social), or "INSS" for entitled to a defined benefit plan for employess.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" xlink:to="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_1" xlink:title="Label : ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan to label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_2" xml:lang="en-US" id="label_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan_2">Expected duration of contribution to Social Security (Instituto Nacional do Seguro Social), or "INSS" for entitled to defined benefit plan</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation2019" xlink:label="WeightedAverageDurationOfDefinedBenefitObligation2019" xlink:title="WeightedAverageDurationOfDefinedBenefitObligation2019" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetAbstract" xlink:label="DisclosureOfNetDefinedBenefitLiabilityAssetAbstract" xlink:title="DisclosureOfNetDefinedBenefitLiabilityAssetAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfNetDefinedBenefitLiabilityAssetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNetDefinedBenefitLiabilityAssetAbstract" xml:lang="en-US" id="label_DisclosureOfNetDefinedBenefitLiabilityAssetAbstract">Disclosure of net defined benefit liability (asset) [abstract]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDefinedBenefitLiabilityAssetAxis" xlink:to="label_NetDefinedBenefitLiabilityAssetAxis" xlink:title="Label : NetDefinedBenefitLiabilityAssetAxis to label_NetDefinedBenefitLiabilityAssetAxis" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:label="NetDefinedBenefitLiabilityAssetMember" xlink:title="NetDefinedBenefitLiabilityAssetMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PlanAssetsMember" xlink:to="label_PlanAssetsMember" xlink:title="Label : PlanAssetsMember to label_PlanAssetsMember" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:label="ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:title="ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:title="ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SurplusDeficitInPlan" xlink:label="SurplusDeficitInPlan" xlink:title="SurplusDeficitInPlan" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SurplusDeficitInPlan" xlink:to="label_SurplusDeficitInPlan" xlink:title="Label : SurplusDeficitInPlan to label_SurplusDeficitInPlan" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NetDefinedBenefitLiability" xlink:label="NetDefinedBenefitLiability" xlink:title="NetDefinedBenefitLiability" />
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    <link:label xlink:type="resource" xlink:label="label_NetDefinedBenefitLiability_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetDefinedBenefitLiability_1" xml:lang="en-US" id="label_NetDefinedBenefitLiability_1">Net defined benefit liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetDefinedBenefitLiability" xlink:to="label_NetDefinedBenefitLiability_1" xlink:title="Label : NetDefinedBenefitLiability to label_NetDefinedBenefitLiability_1" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" xlink:label="ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" xlink:title="ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" />
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    <link:label xlink:type="resource" xlink:label="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_1" xml:lang="en-US" id="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_1">Total expense recognized in profit or loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" xlink:to="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_1" xlink:title="Label : ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset to label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_1" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_2" xml:lang="en-US" id="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_2">(Expense) income recognized net defined benefit liability asset.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" xlink:to="label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_2" xlink:title="Label : ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset to label_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:label="AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:title="AccumulatedLiabilityAssetOfDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans" xml:lang="en-US" id="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans">Accumulated liability asset of defined benefit plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:to="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:title="Label : AccumulatedLiabilityAssetOfDefinedBenefitPlans to label_AccumulatedLiabilityAssetOfDefinedBenefitPlans" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_1" xml:lang="en-US" id="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_1">Accumulated at the beginning of the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:to="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_1" xlink:title="Label : AccumulatedLiabilityAssetOfDefinedBenefitPlans to label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_1" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_2" xml:lang="en-US" id="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_2">Accumulated at the end of the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:to="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_2" xlink:title="Label : AccumulatedLiabilityAssetOfDefinedBenefitPlans to label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_2" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_3" xml:lang="en-US" id="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_3">Accumulated liability asset of defined benefit plans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedLiabilityAssetOfDefinedBenefitPlans" xlink:to="label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_3" xlink:title="Label : AccumulatedLiabilityAssetOfDefinedBenefitPlans to label_AccumulatedLiabilityAssetOfDefinedBenefitPlans_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:title="ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" />
    <link:label xlink:type="resource" xlink:label="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xml:lang="en-US" id="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset">Return on plan assets excluding interest income or expense, net defined benefit liability (asset)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:to="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:title="Label : ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset to label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" />
    <link:label xlink:type="resource" xlink:label="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_1" xml:lang="en-US" id="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_1">Return on investments in the year (excluding interest income)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:to="label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_1" xlink:title="Label : ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset to label_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFairValueOfPlanAssetsAbstract" xlink:label="DisclosureOfFairValueOfPlanAssetsAbstract" xlink:title="DisclosureOfFairValueOfPlanAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFairValueOfPlanAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueOfPlanAssetsAbstract" xml:lang="en-US" id="label_DisclosureOfFairValueOfPlanAssetsAbstract">Disclosure of fair value of plan assets [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueOfPlanAssetsAbstract" xlink:to="label_DisclosureOfFairValueOfPlanAssetsAbstract" xlink:title="Label : DisclosureOfFairValueOfPlanAssetsAbstract to label_DisclosureOfFairValueOfPlanAssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FixedIncomeBondsMember" xlink:label="FixedIncomeBondsMember" xlink:title="FixedIncomeBondsMember" />
    <link:label xlink:type="resource" xlink:label="label_FixedIncomeBondsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FixedIncomeBondsMember" xml:lang="en-US" id="label_FixedIncomeBondsMember">Fixed Income Bonds [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixedIncomeBondsMember" xlink:to="label_FixedIncomeBondsMember" xlink:title="Label : FixedIncomeBondsMember to label_FixedIncomeBondsMember" />
    <link:label xlink:type="resource" xlink:label="label_FixedIncomeBondsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FixedIncomeBondsMember_1" xml:lang="en-US" id="label_FixedIncomeBondsMember_1">Fixed income bonds [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixedIncomeBondsMember" xlink:to="label_FixedIncomeBondsMember_1" xlink:title="Label : FixedIncomeBondsMember to label_FixedIncomeBondsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FixedIncomeBondsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FixedIncomeBondsMember_2" xml:lang="en-US" id="label_FixedIncomeBondsMember_2">Fixed income bonds.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FixedIncomeBondsMember" xlink:to="label_FixedIncomeBondsMember_2" xlink:title="Label : FixedIncomeBondsMember to label_FixedIncomeBondsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_VariableIncomeSecuritiesMember" xlink:label="VariableIncomeSecuritiesMember" xlink:title="VariableIncomeSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_VariableIncomeSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VariableIncomeSecuritiesMember" xml:lang="en-US" id="label_VariableIncomeSecuritiesMember">Variable income securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariableIncomeSecuritiesMember" xlink:to="label_VariableIncomeSecuritiesMember" xlink:title="Label : VariableIncomeSecuritiesMember to label_VariableIncomeSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_VariableIncomeSecuritiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VariableIncomeSecuritiesMember_1" xml:lang="en-US" id="label_VariableIncomeSecuritiesMember_1">Variable-income securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariableIncomeSecuritiesMember" xlink:to="label_VariableIncomeSecuritiesMember_1" xlink:title="Label : VariableIncomeSecuritiesMember to label_VariableIncomeSecuritiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_VariableIncomeSecuritiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VariableIncomeSecuritiesMember_2" xml:lang="en-US" id="label_VariableIncomeSecuritiesMember_2">Variable income securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VariableIncomeSecuritiesMember" xlink:to="label_VariableIncomeSecuritiesMember_2" xlink:title="Label : VariableIncomeSecuritiesMember to label_VariableIncomeSecuritiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherSecuritiesMember" xlink:label="OtherSecuritiesMember" xlink:title="OtherSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherSecuritiesMember" xml:lang="en-US" id="label_OtherSecuritiesMember">Other Securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSecuritiesMember" xlink:to="label_OtherSecuritiesMember" xlink:title="Label : OtherSecuritiesMember to label_OtherSecuritiesMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherSecuritiesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherSecuritiesMember_1" xml:lang="en-US" id="label_OtherSecuritiesMember_1">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSecuritiesMember" xlink:to="label_OtherSecuritiesMember_1" xlink:title="Label : OtherSecuritiesMember to label_OtherSecuritiesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherSecuritiesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherSecuritiesMember_2" xml:lang="en-US" id="label_OtherSecuritiesMember_2">Other securities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherSecuritiesMember" xlink:to="label_OtherSecuritiesMember_2" xlink:title="Label : OtherSecuritiesMember to label_OtherSecuritiesMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFairValueOfPlanAssetsLineItems" xlink:label="DisclosureOfFairValueOfPlanAssetsLineItems" xlink:title="DisclosureOfFairValueOfPlanAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFairValueOfPlanAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfFairValueOfPlanAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfFairValueOfPlanAssetsLineItems">Disclosure of fair value of plan assets [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueOfPlanAssetsLineItems" xlink:to="label_DisclosureOfFairValueOfPlanAssetsLineItems" xlink:title="Label : DisclosureOfFairValueOfPlanAssetsLineItems to label_DisclosureOfFairValueOfPlanAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfFairValueOfPlanAssetsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfFairValueOfPlanAssetsLineItems_1" xml:lang="en-US" id="label_DisclosureOfFairValueOfPlanAssetsLineItems_1">Disclosure of fair value of plan assets [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfFairValueOfPlanAssetsLineItems" xlink:to="label_DisclosureOfFairValueOfPlanAssetsLineItems_1" xlink:title="Label : DisclosureOfFairValueOfPlanAssetsLineItems to label_DisclosureOfFairValueOfPlanAssetsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfFairValueOfPlanAssets" xlink:label="PercentageOfFairValueOfPlanAssets" xlink:title="PercentageOfFairValueOfPlanAssets" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfFairValueOfPlanAssets" xml:lang="en-US" id="label_PercentageOfFairValueOfPlanAssets">Percentage Of Fair Value Of Plan Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfFairValueOfPlanAssets" xlink:to="label_PercentageOfFairValueOfPlanAssets" xlink:title="Label : PercentageOfFairValueOfPlanAssets to label_PercentageOfFairValueOfPlanAssets" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfFairValueOfPlanAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfFairValueOfPlanAssets_1" xml:lang="en-US" id="label_PercentageOfFairValueOfPlanAssets_1">Percentage fair value of plan assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfFairValueOfPlanAssets" xlink:to="label_PercentageOfFairValueOfPlanAssets_1" xlink:title="Label : PercentageOfFairValueOfPlanAssets to label_PercentageOfFairValueOfPlanAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfFairValueOfPlanAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfFairValueOfPlanAssets_2" xml:lang="en-US" id="label_PercentageOfFairValueOfPlanAssets_2">Percentage of fair value of plan assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfFairValueOfPlanAssets" xlink:to="label_PercentageOfFairValueOfPlanAssets_2" xlink:title="Label : PercentageOfFairValueOfPlanAssets to label_PercentageOfFairValueOfPlanAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ActuarialAssumptionOfDiscountRates" xlink:title="ActuarialAssumptionOfDiscountRates" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfDiscountRates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfDiscountRates" xml:lang="en-US" id="label_ActuarialAssumptionOfDiscountRates">Discount rate (per year)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfDiscountRates" xlink:to="label_ActuarialAssumptionOfDiscountRates" xlink:title="Label : ActuarialAssumptionOfDiscountRates to label_ActuarialAssumptionOfDiscountRates" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfDiscountRates_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfDiscountRates_1" xml:lang="en-US" id="label_ActuarialAssumptionOfDiscountRates_1">Actuarial assumption of discount rates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfDiscountRates" xlink:to="label_ActuarialAssumptionOfDiscountRates_1" xlink:title="Label : ActuarialAssumptionOfDiscountRates to label_ActuarialAssumptionOfDiscountRates_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation" xlink:label="ActuarialAssumptionOfExpectedRatesOfInflation" xlink:title="ActuarialAssumptionOfExpectedRatesOfInflation" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfExpectedRatesOfInflation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfExpectedRatesOfInflation" xml:lang="en-US" id="label_ActuarialAssumptionOfExpectedRatesOfInflation">Inflation rate (per year)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfExpectedRatesOfInflation" xlink:to="label_ActuarialAssumptionOfExpectedRatesOfInflation" xlink:title="Label : ActuarialAssumptionOfExpectedRatesOfInflation to label_ActuarialAssumptionOfExpectedRatesOfInflation" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfExpectedRatesOfInflation_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfExpectedRatesOfInflation_1" xml:lang="en-US" id="label_ActuarialAssumptionOfExpectedRatesOfInflation_1">Actuarial assumption of expected rates of inflation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfExpectedRatesOfInflation" xlink:to="label_ActuarialAssumptionOfExpectedRatesOfInflation_1" xlink:title="Label : ActuarialAssumptionOfExpectedRatesOfInflation to label_ActuarialAssumptionOfExpectedRatesOfInflation_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:title="ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xml:lang="en-US" id="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases">Actuarial assumption of expected rates of salary increases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:to="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:title="Label : ActuarialAssumptionOfExpectedRatesOfSalaryIncreases to label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_1" xml:lang="en-US" id="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_1">Future salary increases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:to="label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_1" xlink:title="Label : ActuarialAssumptionOfExpectedRatesOfSalaryIncreases to label_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:label="ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:title="ActuarialAssumptionOfExpectedRatesOfPensionIncreases" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xml:lang="en-US" id="label_ActuarialAssumptionOfExpectedRatesOfPensionIncreases">Increase in pension plans (per year)</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AugustEighteenTwoThousandElevenTwoMember" xlink:label="AugustEighteenTwoThousandElevenTwoMember" xlink:title="AugustEighteenTwoThousandElevenTwoMember" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AugustThirtyOneTwoThousandFifteenMember" xlink:label="AugustThirtyOneTwoThousandFifteenMember" xlink:title="AugustThirtyOneTwoThousandFifteenMember" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StockOptionProgramsMember" xlink:label="StockOptionProgramsMember" xlink:title="StockOptionProgramsMember" />
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    <link:label xlink:type="resource" xlink:label="label_StockOptionProgramsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockOptionProgramsMember_1" xml:lang="en-US" id="label_StockOptionProgramsMember_1">Stock option programs [member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockOptionProgramsMember" xlink:to="label_StockOptionProgramsMember_2" xlink:title="Label : StockOptionProgramsMember to label_StockOptionProgramsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProgramNameAxis" xlink:label="ProgramNameAxis" xlink:title="ProgramNameAxis" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReplacementOfStockOptionPlan" xlink:label="ReplacementOfStockOptionPlan" xlink:title="ReplacementOfStockOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_ReplacementOfStockOptionPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReplacementOfStockOptionPlan" xml:lang="en-US" id="label_ReplacementOfStockOptionPlan">Replacement Of Stock Option Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReplacementOfStockOptionPlan" xlink:to="label_ReplacementOfStockOptionPlan" xlink:title="Label : ReplacementOfStockOptionPlan to label_ReplacementOfStockOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_ReplacementOfStockOptionPlan_1" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_ReplacementOfStockOptionPlan_1" xml:lang="en-US" id="label_ReplacementOfStockOptionPlan_1">Replaced</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReplacementOfStockOptionPlan" xlink:to="label_ReplacementOfStockOptionPlan_1" xlink:title="Label : ReplacementOfStockOptionPlan to label_ReplacementOfStockOptionPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_ReplacementOfStockOptionPlan_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReplacementOfStockOptionPlan_2" xml:lang="en-US" id="label_ReplacementOfStockOptionPlan_2">Replacement of stock option plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReplacementOfStockOptionPlan" xlink:to="label_ReplacementOfStockOptionPlan_2" xlink:title="Label : ReplacementOfStockOptionPlan to label_ReplacementOfStockOptionPlan_2" />
    <link:label xlink:type="resource" xlink:label="label_ReplacementOfStockOptionPlan_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReplacementOfStockOptionPlan_3" xml:lang="en-US" id="label_ReplacementOfStockOptionPlan_3">Replacement of stock option plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReplacementOfStockOptionPlan" xlink:to="label_ReplacementOfStockOptionPlan_3" xlink:title="Label : ReplacementOfStockOptionPlan to label_ReplacementOfStockOptionPlan_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract">Disclosure of terms and conditions of share-based payment arrangement [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_1" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_1">Disclosure of terms and conditions of share-based payment arrangement [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_1" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable">Disclosure of terms and conditions of share-based payment arrangement [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_1" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_1">Disclosure of terms and conditions of share-based payment arrangement [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_1" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ComgasAndCompassGasEEnergiaSAMember" xlink:label="ComgasAndCompassGasEEnergiaSAMember" xlink:title="ComgasAndCompassGasEEnergiaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ComgasAndCompassGasEEnergiaSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ComgasAndCompassGasEEnergiaSAMember" xml:lang="en-US" id="label_ComgasAndCompassGasEEnergiaSAMember">This member stands for the information pertaining to Comgas and Compass Gas e Energia SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasAndCompassGasEEnergiaSAMember" xlink:to="label_ComgasAndCompassGasEEnergiaSAMember" xlink:title="Label : ComgasAndCompassGasEEnergiaSAMember to label_ComgasAndCompassGasEEnergiaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_ComgasAndCompassGasEEnergiaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ComgasAndCompassGasEEnergiaSAMember_1" xml:lang="en-US" id="label_ComgasAndCompassGasEEnergiaSAMember_1">Comgas and Compass Gas e Energia [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasAndCompassGasEEnergiaSAMember" xlink:to="label_ComgasAndCompassGasEEnergiaSAMember_1" xlink:title="Label : ComgasAndCompassGasEEnergiaSAMember to label_ComgasAndCompassGasEEnergiaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ComgasAndCompassGasEEnergiaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ComgasAndCompassGasEEnergiaSAMember_2" xml:lang="en-US" id="label_ComgasAndCompassGasEEnergiaSAMember_2">Comgas and Compass Gas E Energia SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasAndCompassGasEEnergiaSAMember" xlink:to="label_ComgasAndCompassGasEEnergiaSAMember_2" xlink:title="Label : ComgasAndCompassGasEEnergiaSAMember to label_ComgasAndCompassGasEEnergiaSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_ComgasAndCompassGasEEnergiaSAMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ComgasAndCompassGasEEnergiaSAMember_3" xml:lang="en-US" id="label_ComgasAndCompassGasEEnergiaSAMember_3">Compass G&#xE1;s e Energia</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ComgasAndCompassGasEEnergiaSAMember" xlink:to="label_ComgasAndCompassGasEEnergiaSAMember_3" xlink:title="Label : ComgasAndCompassGasEEnergiaSAMember to label_ComgasAndCompassGasEEnergiaSAMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StockGrantProgramsMember" xlink:label="StockGrantProgramsMember" xlink:title="StockGrantProgramsMember" />
    <link:label xlink:type="resource" xlink:label="label_StockGrantProgramsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockGrantProgramsMember" xml:lang="en-US" id="label_StockGrantProgramsMember">Stock grant programs [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockGrantProgramsMember" xlink:to="label_StockGrantProgramsMember" xlink:title="Label : StockGrantProgramsMember to label_StockGrantProgramsMember" />
    <link:label xlink:type="resource" xlink:label="label_StockGrantProgramsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockGrantProgramsMember_1" xml:lang="en-US" id="label_StockGrantProgramsMember_1">Stock grant programs [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockGrantProgramsMember" xlink:to="label_StockGrantProgramsMember_1" xlink:title="Label : StockGrantProgramsMember to label_StockGrantProgramsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_StockGrantProgramsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockGrantProgramsMember_2" xml:lang="en-US" id="label_StockGrantProgramsMember_2">Stock grant programs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockGrantProgramsMember" xlink:to="label_StockGrantProgramsMember_2" xlink:title="Label : StockGrantProgramsMember to label_StockGrantProgramsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StockGrantModificationMember" xlink:label="StockGrantModificationMember" xlink:title="StockGrantModificationMember" />
    <link:label xlink:type="resource" xlink:label="label_StockGrantModificationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockGrantModificationMember" xml:lang="en-US" id="label_StockGrantModificationMember">Stock Grant Modification [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockGrantModificationMember" xlink:to="label_StockGrantModificationMember" xlink:title="Label : StockGrantModificationMember to label_StockGrantModificationMember" />
    <link:label xlink:type="resource" xlink:label="label_StockGrantModificationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockGrantModificationMember_1" xml:lang="en-US" id="label_StockGrantModificationMember_1">Stock Grant Modification [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockGrantModificationMember" xlink:to="label_StockGrantModificationMember_1" xlink:title="Label : StockGrantModificationMember to label_StockGrantModificationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_StockGrantModificationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockGrantModificationMember_2" xml:lang="en-US" id="label_StockGrantModificationMember_2">Stock Grant Modification.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockGrantModificationMember" xlink:to="label_StockGrantModificationMember_2" xlink:title="Label : StockGrantModificationMember to label_StockGrantModificationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashSettledTransactionsMember" xlink:label="CashSettledTransactionsMember" xlink:title="CashSettledTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_CashSettledTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashSettledTransactionsMember" xml:lang="en-US" id="label_CashSettledTransactionsMember">Cash Settled Transactions [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashSettledTransactionsMember" xlink:to="label_CashSettledTransactionsMember" xlink:title="Label : CashSettledTransactionsMember to label_CashSettledTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_CashSettledTransactionsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashSettledTransactionsMember_1" xml:lang="en-US" id="label_CashSettledTransactionsMember_1">Cash Settled Transactions [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashSettledTransactionsMember" xlink:to="label_CashSettledTransactionsMember_1" xlink:title="Label : CashSettledTransactionsMember to label_CashSettledTransactionsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CashSettledTransactionsMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashSettledTransactionsMember_2" xml:lang="en-US" id="label_CashSettledTransactionsMember_2">Cash settled transactions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashSettledTransactionsMember" xlink:to="label_CashSettledTransactionsMember_2" xlink:title="Label : CashSettledTransactionsMember to label_CashSettledTransactionsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AwardDatesAxis" xlink:label="AwardDatesAxis" xlink:title="AwardDatesAxis" />
    <link:label xlink:type="resource" xlink:label="label_AwardDatesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AwardDatesAxis" xml:lang="en-US" id="label_AwardDatesAxis">Award Dates [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardDatesAxis" xlink:to="label_AwardDatesAxis" xlink:title="Label : AwardDatesAxis to label_AwardDatesAxis" />
    <link:label xlink:type="resource" xlink:label="label_AwardDatesAxis_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AwardDatesAxis_1" xml:lang="en-US" id="label_AwardDatesAxis_1">Information by date or year award under share-based payment arrangement is granted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardDatesAxis" xlink:to="label_AwardDatesAxis_1" xlink:title="Label : AwardDatesAxis to label_AwardDatesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AwardDatesDomain" xlink:label="AwardDatesDomain" xlink:title="AwardDatesDomain" />
    <link:label xlink:type="resource" xlink:label="label_AwardDatesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AwardDatesDomain" xml:lang="en-US" id="label_AwardDatesDomain">Award Dates [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardDatesDomain" xlink:to="label_AwardDatesDomain" xlink:title="Label : AwardDatesDomain to label_AwardDatesDomain" />
    <link:label xlink:type="resource" xlink:label="label_AwardDatesDomain_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AwardDatesDomain_1" xml:lang="en-US" id="label_AwardDatesDomain_1">Date or year award under share-based payment arrangement is granted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardDatesDomain" xlink:to="label_AwardDatesDomain_1" xlink:title="Label : AwardDatesDomain to label_AwardDatesDomain_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AprilTwentySevenTwoThousandSeventeenMember" xlink:label="AprilTwentySevenTwoThousandSeventeenMember" xlink:title="AprilTwentySevenTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_AprilTwentySevenTwoThousandSeventeenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AprilTwentySevenTwoThousandSeventeenMember" xml:lang="en-US" id="label_AprilTwentySevenTwoThousandSeventeenMember">April twenty seven two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AprilTwentySevenTwoThousandSeventeenMember" xlink:to="label_AprilTwentySevenTwoThousandSeventeenMember" xlink:title="Label : AprilTwentySevenTwoThousandSeventeenMember to label_AprilTwentySevenTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_AprilTwentySevenTwoThousandSeventeenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AprilTwentySevenTwoThousandSeventeenMember_1" xml:lang="en-US" id="label_AprilTwentySevenTwoThousandSeventeenMember_1">April 27, 2017 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AprilTwentySevenTwoThousandSeventeenMember" xlink:to="label_AprilTwentySevenTwoThousandSeventeenMember_1" xlink:title="Label : AprilTwentySevenTwoThousandSeventeenMember to label_AprilTwentySevenTwoThousandSeventeenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AprilTwentySevenTwoThousandSeventeenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AprilTwentySevenTwoThousandSeventeenMember_2" xml:lang="en-US" id="label_AprilTwentySevenTwoThousandSeventeenMember_2">April twenty seven two thousand seventeen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AprilTwentySevenTwoThousandSeventeenMember" xlink:to="label_AprilTwentySevenTwoThousandSeventeenMember_2" xlink:title="Label : AprilTwentySevenTwoThousandSeventeenMember to label_AprilTwentySevenTwoThousandSeventeenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_JulyThirtyOneTwoThousandSeventeenMember" xlink:label="JulyThirtyOneTwoThousandSeventeenMember" xlink:title="JulyThirtyOneTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandSeventeenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JulyThirtyOneTwoThousandSeventeenMember" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandSeventeenMember">July thirty one two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandSeventeenMember" xlink:to="label_JulyThirtyOneTwoThousandSeventeenMember" xlink:title="Label : JulyThirtyOneTwoThousandSeventeenMember to label_JulyThirtyOneTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandSeventeenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JulyThirtyOneTwoThousandSeventeenMember_1" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandSeventeenMember_1">July 31, 2017 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandSeventeenMember" xlink:to="label_JulyThirtyOneTwoThousandSeventeenMember_1" xlink:title="Label : JulyThirtyOneTwoThousandSeventeenMember to label_JulyThirtyOneTwoThousandSeventeenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandSeventeenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_JulyThirtyOneTwoThousandSeventeenMember_2" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandSeventeenMember_2">July thirty one two thousand seventeen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandSeventeenMember" xlink:to="label_JulyThirtyOneTwoThousandSeventeenMember_2" xlink:title="Label : JulyThirtyOneTwoThousandSeventeenMember to label_JulyThirtyOneTwoThousandSeventeenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_JulyThirtyOneTwoThousandEighteenMember" xlink:label="JulyThirtyOneTwoThousandEighteenMember" xlink:title="JulyThirtyOneTwoThousandEighteenMember" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandEighteenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JulyThirtyOneTwoThousandEighteenMember" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandEighteenMember">July thirty one two thousand eighteen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandEighteenMember" xlink:to="label_JulyThirtyOneTwoThousandEighteenMember" xlink:title="Label : JulyThirtyOneTwoThousandEighteenMember to label_JulyThirtyOneTwoThousandEighteenMember" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandEighteenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JulyThirtyOneTwoThousandEighteenMember_1" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandEighteenMember_1">July 31, 2018 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandEighteenMember" xlink:to="label_JulyThirtyOneTwoThousandEighteenMember_1" xlink:title="Label : JulyThirtyOneTwoThousandEighteenMember to label_JulyThirtyOneTwoThousandEighteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandEighteenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_JulyThirtyOneTwoThousandEighteenMember_2" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandEighteenMember_2">July thirty one two thousand eighteen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandEighteenMember" xlink:to="label_JulyThirtyOneTwoThousandEighteenMember_2" xlink:title="Label : JulyThirtyOneTwoThousandEighteenMember to label_JulyThirtyOneTwoThousandEighteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_JulyThirtyOneTwoThousandNineteenMember" xlink:label="JulyThirtyOneTwoThousandNineteenMember" xlink:title="JulyThirtyOneTwoThousandNineteenMember" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandNineteenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JulyThirtyOneTwoThousandNineteenMember" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandNineteenMember">July thirty one two thousand nineteen [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandNineteenMember" xlink:to="label_JulyThirtyOneTwoThousandNineteenMember" xlink:title="Label : JulyThirtyOneTwoThousandNineteenMember to label_JulyThirtyOneTwoThousandNineteenMember" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandNineteenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JulyThirtyOneTwoThousandNineteenMember_1" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandNineteenMember_1">July 31, 2019 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandNineteenMember" xlink:to="label_JulyThirtyOneTwoThousandNineteenMember_1" xlink:title="Label : JulyThirtyOneTwoThousandNineteenMember to label_JulyThirtyOneTwoThousandNineteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_JulyThirtyOneTwoThousandNineteenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_JulyThirtyOneTwoThousandNineteenMember_2" xml:lang="en-US" id="label_JulyThirtyOneTwoThousandNineteenMember_2">July thirty one two thousand nineteen member.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JulyThirtyOneTwoThousandNineteenMember" xlink:to="label_JulyThirtyOneTwoThousandNineteenMember_2" xlink:title="Label : JulyThirtyOneTwoThousandNineteenMember to label_JulyThirtyOneTwoThousandNineteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_July31St2020Member" xlink:label="July31St2020Member" xlink:title="July31St2020Member" />
    <link:label xlink:type="resource" xlink:label="label_July31St2020Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_July31St2020Member" xml:lang="en-US" id="label_July31St2020Member">July 31 St 2020 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July31St2020Member" xlink:to="label_July31St2020Member" xlink:title="Label : July31St2020Member to label_July31St2020Member" />
    <link:label xlink:type="resource" xlink:label="label_July31St2020Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_July31St2020Member_1" xml:lang="en-US" id="label_July31St2020Member_1">This member stands for the information pertaining to July 31st, 2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July31St2020Member" xlink:to="label_July31St2020Member_1" xlink:title="Label : July31St2020Member to label_July31St2020Member_1" />
    <link:label xlink:type="resource" xlink:label="label_July31St2020Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_July31St2020Member_2" xml:lang="en-US" id="label_July31St2020Member_2">July 31, 2020 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July31St2020Member" xlink:to="label_July31St2020Member_2" xlink:title="Label : July31St2020Member to label_July31St2020Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AprilTwentyTwoThousandSeventeenMember" xlink:label="AprilTwentyTwoThousandSeventeenMember" xlink:title="AprilTwentyTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_AprilTwentyTwoThousandSeventeenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AprilTwentyTwoThousandSeventeenMember" xml:lang="en-US" id="label_AprilTwentyTwoThousandSeventeenMember">April twenty two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AprilTwentyTwoThousandSeventeenMember" xlink:to="label_AprilTwentyTwoThousandSeventeenMember" xlink:title="Label : AprilTwentyTwoThousandSeventeenMember to label_AprilTwentyTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_AprilTwentyTwoThousandSeventeenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AprilTwentyTwoThousandSeventeenMember_1" xml:lang="en-US" id="label_AprilTwentyTwoThousandSeventeenMember_1">April 20, 2017 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AprilTwentyTwoThousandSeventeenMember" xlink:to="label_AprilTwentyTwoThousandSeventeenMember_1" xlink:title="Label : AprilTwentyTwoThousandSeventeenMember to label_AprilTwentyTwoThousandSeventeenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AprilTwentyTwoThousandSeventeenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AprilTwentyTwoThousandSeventeenMember_2" xml:lang="en-US" id="label_AprilTwentyTwoThousandSeventeenMember_2">April twenty two thousand seventeen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AprilTwentyTwoThousandSeventeenMember" xlink:to="label_AprilTwentyTwoThousandSeventeenMember_2" xlink:title="Label : AprilTwentyTwoThousandSeventeenMember to label_AprilTwentyTwoThousandSeventeenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AugustTwelveTwoThousandSeventeenMember" xlink:label="AugustTwelveTwoThousandSeventeenMember" xlink:title="AugustTwelveTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_AugustTwelveTwoThousandSeventeenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AugustTwelveTwoThousandSeventeenMember" xml:lang="en-US" id="label_AugustTwelveTwoThousandSeventeenMember">August twelve two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustTwelveTwoThousandSeventeenMember" xlink:to="label_AugustTwelveTwoThousandSeventeenMember" xlink:title="Label : AugustTwelveTwoThousandSeventeenMember to label_AugustTwelveTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_AugustTwelveTwoThousandSeventeenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AugustTwelveTwoThousandSeventeenMember_1" xml:lang="en-US" id="label_AugustTwelveTwoThousandSeventeenMember_1">August 12, 2017 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustTwelveTwoThousandSeventeenMember" xlink:to="label_AugustTwelveTwoThousandSeventeenMember_1" xlink:title="Label : AugustTwelveTwoThousandSeventeenMember to label_AugustTwelveTwoThousandSeventeenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AugustTwelveTwoThousandSeventeenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AugustTwelveTwoThousandSeventeenMember_2" xml:lang="en-US" id="label_AugustTwelveTwoThousandSeventeenMember_2">August twelve two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustTwelveTwoThousandSeventeenMember" xlink:to="label_AugustTwelveTwoThousandSeventeenMember_2" xlink:title="Label : AugustTwelveTwoThousandSeventeenMember to label_AugustTwelveTwoThousandSeventeenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AugustOneTwoThousandEighteenMember" xlink:label="AugustOneTwoThousandEighteenMember" xlink:title="AugustOneTwoThousandEighteenMember" />
    <link:label xlink:type="resource" xlink:label="label_AugustOneTwoThousandEighteenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AugustOneTwoThousandEighteenMember" xml:lang="en-US" id="label_AugustOneTwoThousandEighteenMember">August one two thousand eighteen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustOneTwoThousandEighteenMember" xlink:to="label_AugustOneTwoThousandEighteenMember" xlink:title="Label : AugustOneTwoThousandEighteenMember to label_AugustOneTwoThousandEighteenMember" />
    <link:label xlink:type="resource" xlink:label="label_AugustOneTwoThousandEighteenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AugustOneTwoThousandEighteenMember_1" xml:lang="en-US" id="label_AugustOneTwoThousandEighteenMember_1">August 1, 2018 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustOneTwoThousandEighteenMember" xlink:to="label_AugustOneTwoThousandEighteenMember_1" xlink:title="Label : AugustOneTwoThousandEighteenMember to label_AugustOneTwoThousandEighteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AugustOneTwoThousandEighteenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AugustOneTwoThousandEighteenMember_2" xml:lang="en-US" id="label_AugustOneTwoThousandEighteenMember_2">August one two thousand eighteen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustOneTwoThousandEighteenMember" xlink:to="label_AugustOneTwoThousandEighteenMember_2" xlink:title="Label : AugustOneTwoThousandEighteenMember to label_AugustOneTwoThousandEighteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_February01St2020Member" xlink:label="February01St2020Member" xlink:title="February01St2020Member" />
    <link:label xlink:type="resource" xlink:label="label_February01St2020Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_February01St2020Member" xml:lang="en-US" id="label_February01St2020Member">February 01 St 2020 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February01St2020Member" xlink:to="label_February01St2020Member" xlink:title="Label : February01St2020Member to label_February01St2020Member" />
    <link:label xlink:type="resource" xlink:label="label_February01St2020Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_February01St2020Member_1" xml:lang="en-US" id="label_February01St2020Member_1">This member stands for the information pertaining to February 01st, 2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February01St2020Member" xlink:to="label_February01St2020Member_1" xlink:title="Label : February01St2020Member to label_February01St2020Member_1" />
    <link:label xlink:type="resource" xlink:label="label_February01St2020Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_February01St2020Member_2" xml:lang="en-US" id="label_February01St2020Member_2">February 01, 2020 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="February01St2020Member" xlink:to="label_February01St2020Member_2" xlink:title="Label : February01St2020Member to label_February01St2020Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_JanuaryTwoTwoThousandSeventeenMember" xlink:label="JanuaryTwoTwoThousandSeventeenMember" xlink:title="JanuaryTwoTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_JanuaryTwoTwoThousandSeventeenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JanuaryTwoTwoThousandSeventeenMember" xml:lang="en-US" id="label_JanuaryTwoTwoThousandSeventeenMember">January two two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanuaryTwoTwoThousandSeventeenMember" xlink:to="label_JanuaryTwoTwoThousandSeventeenMember" xlink:title="Label : JanuaryTwoTwoThousandSeventeenMember to label_JanuaryTwoTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_JanuaryTwoTwoThousandSeventeenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JanuaryTwoTwoThousandSeventeenMember_1" xml:lang="en-US" id="label_JanuaryTwoTwoThousandSeventeenMember_1">January 2, 2017 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanuaryTwoTwoThousandSeventeenMember" xlink:to="label_JanuaryTwoTwoThousandSeventeenMember_1" xlink:title="Label : JanuaryTwoTwoThousandSeventeenMember to label_JanuaryTwoTwoThousandSeventeenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_JanuaryTwoTwoThousandSeventeenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_JanuaryTwoTwoThousandSeventeenMember_2" xml:lang="en-US" id="label_JanuaryTwoTwoThousandSeventeenMember_2">January two two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JanuaryTwoTwoThousandSeventeenMember" xlink:to="label_JanuaryTwoTwoThousandSeventeenMember_2" xlink:title="Label : JanuaryTwoTwoThousandSeventeenMember to label_JanuaryTwoTwoThousandSeventeenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeptemberOneTwoThousandSeventeenMember" xlink:label="SeptemberOneTwoThousandSeventeenMember" xlink:title="SeptemberOneTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_SeptemberOneTwoThousandSeventeenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeptemberOneTwoThousandSeventeenMember" xml:lang="en-US" id="label_SeptemberOneTwoThousandSeventeenMember">September one two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeptemberOneTwoThousandSeventeenMember" xlink:to="label_SeptemberOneTwoThousandSeventeenMember" xlink:title="Label : SeptemberOneTwoThousandSeventeenMember to label_SeptemberOneTwoThousandSeventeenMember" />
    <link:label xlink:type="resource" xlink:label="label_SeptemberOneTwoThousandSeventeenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeptemberOneTwoThousandSeventeenMember_1" xml:lang="en-US" id="label_SeptemberOneTwoThousandSeventeenMember_1">September 1, 2017 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeptemberOneTwoThousandSeventeenMember" xlink:to="label_SeptemberOneTwoThousandSeventeenMember_1" xlink:title="Label : SeptemberOneTwoThousandSeventeenMember to label_SeptemberOneTwoThousandSeventeenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SeptemberOneTwoThousandSeventeenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeptemberOneTwoThousandSeventeenMember_2" xml:lang="en-US" id="label_SeptemberOneTwoThousandSeventeenMember_2">September one two thousand seventeen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeptemberOneTwoThousandSeventeenMember" xlink:to="label_SeptemberOneTwoThousandSeventeenMember_2" xlink:title="Label : SeptemberOneTwoThousandSeventeenMember to label_SeptemberOneTwoThousandSeventeenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AugustFifteenTwoThousandNineteenMember" xlink:label="AugustFifteenTwoThousandNineteenMember" xlink:title="AugustFifteenTwoThousandNineteenMember" />
    <link:label xlink:type="resource" xlink:label="label_AugustFifteenTwoThousandNineteenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AugustFifteenTwoThousandNineteenMember" xml:lang="en-US" id="label_AugustFifteenTwoThousandNineteenMember">August fifteen two thousand nineteen [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustFifteenTwoThousandNineteenMember" xlink:to="label_AugustFifteenTwoThousandNineteenMember" xlink:title="Label : AugustFifteenTwoThousandNineteenMember to label_AugustFifteenTwoThousandNineteenMember" />
    <link:label xlink:type="resource" xlink:label="label_AugustFifteenTwoThousandNineteenMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AugustFifteenTwoThousandNineteenMember_1" xml:lang="en-US" id="label_AugustFifteenTwoThousandNineteenMember_1">August 15, 2019 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustFifteenTwoThousandNineteenMember" xlink:to="label_AugustFifteenTwoThousandNineteenMember_1" xlink:title="Label : AugustFifteenTwoThousandNineteenMember to label_AugustFifteenTwoThousandNineteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AugustFifteenTwoThousandNineteenMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AugustFifteenTwoThousandNineteenMember_2" xml:lang="en-US" id="label_AugustFifteenTwoThousandNineteenMember_2">August fifteen two thousand nineteen member.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AugustFifteenTwoThousandNineteenMember" xlink:to="label_AugustFifteenTwoThousandNineteenMember_2" xlink:title="Label : AugustFifteenTwoThousandNineteenMember to label_AugustFifteenTwoThousandNineteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">Disclosure of terms and conditions of share-based payment arrangement [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_1" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_1">Disclosure of terms and conditions of share-based payment arrangement [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_1" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement">Number of share options granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:title="Label : NumberOfShareOptionsGrantedInSharebasedPaymentArrangement to label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_1" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:title="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_1" xml:lang="en-US" id="label_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_1">Granted</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ValueOfSharesDeliveredInStockOptionPlan_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ValueOfSharesDeliveredInStockOptionPlan_2" xml:lang="en-US" id="label_ValueOfSharesDeliveredInStockOptionPlan_2">Value Of Shares Delivered In Stock Option Plan.</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompassGasEEnergiaMember" xlink:label="CompassGasEEnergiaMember" xlink:title="CompassGasEEnergiaMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompassGasEEnergiaMember" xml:lang="en-US" id="label_CompassGasEEnergiaMember">Compass Gas e Energia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaMember" xlink:to="label_CompassGasEEnergiaMember" xlink:title="Label : CompassGasEEnergiaMember to label_CompassGasEEnergiaMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompassGasEEnergiaMember_1" xml:lang="en-US" id="label_CompassGasEEnergiaMember_1">Compass Gas e Energia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaMember" xlink:to="label_CompassGasEEnergiaMember_1" xlink:title="Label : CompassGasEEnergiaMember to label_CompassGasEEnergiaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompassGasEEnergiaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompassGasEEnergiaMember_2" xml:lang="en-US" id="label_CompassGasEEnergiaMember_2">Compass Gas e Energia.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGasEEnergiaMember" xlink:to="label_CompassGasEEnergiaMember_2" xlink:title="Label : CompassGasEEnergiaMember to label_CompassGasEEnergiaMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageSharePriceShareOptionsGranted2019" xlink:label="WeightedAverageSharePriceShareOptionsGranted2019" xlink:title="WeightedAverageSharePriceShareOptionsGranted2019" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageSharePriceShareOptionsGranted2019" xlink:to="label_WeightedAverageSharePriceShareOptionsGranted2019" xlink:title="Label : WeightedAverageSharePriceShareOptionsGranted2019 to label_WeightedAverageSharePriceShareOptionsGranted2019" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageSharePriceShareOptionsGranted2019_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageSharePriceShareOptionsGranted2019_1" xml:lang="en-US" id="label_WeightedAverageSharePriceShareOptionsGranted2019_1">Share price at grant date</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:label="DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:title="DescriptionOfRiskFreeInterestRateShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xml:lang="en-US" id="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted">Risk free interest rate, share options granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:title="Label : DescriptionOfRiskFreeInterestRateShareOptionsGranted to label_DescriptionOfRiskFreeInterestRateShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted_1" xml:lang="en-US" id="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted_1">Risk-free interest rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="label_DescriptionOfRiskFreeInterestRateShareOptionsGranted_1" xlink:title="Label : DescriptionOfRiskFreeInterestRateShareOptionsGranted to label_DescriptionOfRiskFreeInterestRateShareOptionsGranted_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:label="ExpectedDividendAsPercentageShareOptionsGranted" xlink:title="ExpectedDividendAsPercentageShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_ExpectedDividendAsPercentageShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpectedDividendAsPercentageShareOptionsGranted" xml:lang="en-US" id="label_ExpectedDividendAsPercentageShareOptionsGranted">Expected dividend as percentage, share options granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="label_ExpectedDividendAsPercentageShareOptionsGranted" xlink:title="Label : ExpectedDividendAsPercentageShareOptionsGranted to label_ExpectedDividendAsPercentageShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_ExpectedDividendAsPercentageShareOptionsGranted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpectedDividendAsPercentageShareOptionsGranted_1" xml:lang="en-US" id="label_ExpectedDividendAsPercentageShareOptionsGranted_1">Dividend yield</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="label_ExpectedDividendAsPercentageShareOptionsGranted_1" xlink:title="Label : ExpectedDividendAsPercentageShareOptionsGranted to label_ExpectedDividendAsPercentageShareOptionsGranted_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:label="DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:title="DescriptionOfExpectedVolatilityShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfExpectedVolatilityShareOptionsGranted" xml:lang="en-US" id="label_DescriptionOfExpectedVolatilityShareOptionsGranted">Expected volatility, share options granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="label_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:title="Label : DescriptionOfExpectedVolatilityShareOptionsGranted to label_DescriptionOfExpectedVolatilityShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfExpectedVolatilityShareOptionsGranted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfExpectedVolatilityShareOptionsGranted_1" xml:lang="en-US" id="label_DescriptionOfExpectedVolatilityShareOptionsGranted_1">Volatility factor</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="label_DescriptionOfExpectedVolatilityShareOptionsGranted_1" xlink:title="Label : DescriptionOfExpectedVolatilityShareOptionsGranted to label_DescriptionOfExpectedVolatilityShareOptionsGranted_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement">Number of share options vested in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:to="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:title="Label : NumberOfShareOptionsVestedInSharebasedPaymentArrangement to label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_1" xml:lang="en-US" id="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_1">Stock option programs, Vested</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:to="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_1" xlink:title="Label : NumberOfShareOptionsVestedInSharebasedPaymentArrangement to label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_2" xml:lang="en-US" id="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_2">Number of share options vested in sharebased payment arrangement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:to="label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_2" xlink:title="Label : NumberOfShareOptionsVestedInSharebasedPaymentArrangement to label_NumberOfShareOptionsVestedInSharebasedPaymentArrangement_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:title="NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement">Number of share options forfeited in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:title="Label : NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement to label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_1" xml:lang="en-US" id="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_1">Stock option programs, Cancelled</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_1" xlink:title="Label : NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement to label_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:label="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:title="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xml:lang="en-US" id="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019">Weighted average exercise price of share options exercisable in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:to="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:title="Label : WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019 to label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" />
    <link:label xlink:type="resource" xlink:label="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_1" xml:lang="en-US" id="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_1">Weighted average exercise price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019" xlink:to="label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_1" xlink:title="Label : WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019 to label_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement2019_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:title="ExpenseFromSharebasedPaymentTransactionsWithEmployees" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xml:lang="en-US" id="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees">Expense from share-based payment transactions with employees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:title="Label : ExpenseFromSharebasedPaymentTransactionsWithEmployees to label_ExpenseFromSharebasedPaymentTransactionsWithEmployees" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_1" xml:lang="en-US" id="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_1">Expense recognized in profit or loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_1" xlink:title="Label : ExpenseFromSharebasedPaymentTransactionsWithEmployees to label_ExpenseFromSharebasedPaymentTransactionsWithEmployees_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:label="NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:title="NumberOfSharesGrantedInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xml:lang="en-US" id="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan">Number Of Shares Granted In Replacement Of Existing Option Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:to="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:title="Label : NumberOfSharesGrantedInReplacementOfExistingOptionPlan to label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_1" xml:lang="en-US" id="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_1">Number of shares granted in replacement of existing option plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:to="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_1" xlink:title="Label : NumberOfSharesGrantedInReplacementOfExistingOptionPlan to label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_2" xml:lang="en-US" id="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_2">Number of shares granted in replacement of existing option plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesGrantedInReplacementOfExistingOptionPlan" xlink:to="label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_2" xlink:title="Label : NumberOfSharesGrantedInReplacementOfExistingOptionPlan to label_NumberOfSharesGrantedInReplacementOfExistingOptionPlan_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncrementalCostInReplacementOfExistingOptionPlan" xlink:label="IncrementalCostInReplacementOfExistingOptionPlan" xlink:title="IncrementalCostInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostInReplacementOfExistingOptionPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncrementalCostInReplacementOfExistingOptionPlan" xml:lang="en-US" id="label_IncrementalCostInReplacementOfExistingOptionPlan">Incremental Cost In Replacement Of Existing Option Plan</link:label>
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    <link:label xlink:type="resource" xlink:label="label_IncrementalCostInReplacementOfExistingOptionPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncrementalCostInReplacementOfExistingOptionPlan_1" xml:lang="en-US" id="label_IncrementalCostInReplacementOfExistingOptionPlan_1">Incremental cost in replacement of existing option plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostInReplacementOfExistingOptionPlan_1" xlink:title="Label : IncrementalCostInReplacementOfExistingOptionPlan to label_IncrementalCostInReplacementOfExistingOptionPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostInReplacementOfExistingOptionPlan_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncrementalCostInReplacementOfExistingOptionPlan_2" xml:lang="en-US" id="label_IncrementalCostInReplacementOfExistingOptionPlan_2">Incremental cost in replacement of existing option plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostInReplacementOfExistingOptionPlan_2" xlink:title="Label : IncrementalCostInReplacementOfExistingOptionPlan to label_IncrementalCostInReplacementOfExistingOptionPlan_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:label="IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:title="IncrementalCostRecognizedInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xml:lang="en-US" id="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan">Incremental Cost Recognized In Replacement Of Existing Option Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:title="Label : IncrementalCostRecognizedInReplacementOfExistingOptionPlan to label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_1" xml:lang="en-US" id="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_1">Incremental cost recognized in replacement of existing option plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_1" xlink:title="Label : IncrementalCostRecognizedInReplacementOfExistingOptionPlan to label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_2" xml:lang="en-US" id="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_2">Incremental cost recognized in replacement of existing option plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostRecognizedInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_2" xlink:title="Label : IncrementalCostRecognizedInReplacementOfExistingOptionPlan to label_IncrementalCostRecognizedInReplacementOfExistingOptionPlan_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:label="IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:title="IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xml:lang="en-US" id="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan">Incremental Cost To Be Recognized In Replacement Of Existing Option Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:title="Label : IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan to label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_1" xml:lang="en-US" id="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_1">Incremental cost to be recognized in replacement of existing option plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_1" xlink:title="Label : IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan to label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_2" xml:lang="en-US" id="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_2">Incremental cost to be recognized in replacement of existing option plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" xlink:to="label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_2" xlink:title="Label : IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan to label_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xlink:label="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xlink:title="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xml:lang="en-US" id="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable">Disclosure Of Statement Of Income Of Discontinued Operations [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xlink:to="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xlink:title="Label : DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable to label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable_1" xml:lang="en-US" id="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable_1">Disclosure Of Statement Of Income Of Discontinued Operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" xlink:to="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable_1" xlink:title="Label : DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable to label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanBiomassaSaMember" xlink:label="CosanBiomassaSaMember" xlink:title="CosanBiomassaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanBiomassaSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanBiomassaSaMember" xml:lang="en-US" id="label_CosanBiomassaSaMember">Cosan Biomassa SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanBiomassaSaMember" xlink:to="label_CosanBiomassaSaMember" xlink:title="Label : CosanBiomassaSaMember to label_CosanBiomassaSaMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanBiomassaSaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanBiomassaSaMember_1" xml:lang="en-US" id="label_CosanBiomassaSaMember_1">Cosan Biomassa SA [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanBiomassaSaMember" xlink:to="label_CosanBiomassaSaMember_1" xlink:title="Label : CosanBiomassaSaMember to label_CosanBiomassaSaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanBiomassaSaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanBiomassaSaMember_2" xml:lang="en-US" id="label_CosanBiomassaSaMember_2">Cosan biomassa S.A (member).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanBiomassaSaMember" xlink:to="label_CosanBiomassaSaMember_2" xlink:title="Label : CosanBiomassaSaMember to label_CosanBiomassaSaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xlink:label="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xlink:title="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xml:lang="en-US" id="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems">Disclosure Of Statement Of Income Of Discontinued Operations [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xlink:to="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xlink:title="Label : DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems to label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems_1" xml:lang="en-US" id="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems_1">Disclosure Of Statement Of Income Of Discontinued Operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" xlink:to="label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems_1" xlink:title="Label : DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems to label_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:label="UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:title="UnsecuredLiabilityRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate">Unsecured Liability Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:to="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:title="Label : UnsecuredLiabilityRecognisedAsOfAcquisitionDate to label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_1">Unsecured liability recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:to="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_1" xlink:title="Label : UnsecuredLiabilityRecognisedAsOfAcquisitionDate to label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_2">Unsecured liability recognised as of acquisition date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnsecuredLiabilityRecognisedAsOfAcquisitionDate" xlink:to="label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_2" xlink:title="Label : UnsecuredLiabilityRecognisedAsOfAcquisitionDate to label_UnsecuredLiabilityRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RevenueOfCombinedEntity" xlink:label="RevenueOfCombinedEntity" xlink:title="RevenueOfCombinedEntity" />
    <link:label xlink:type="resource" xlink:label="label_RevenueOfCombinedEntity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RevenueOfCombinedEntity" xml:lang="en-US" id="label_RevenueOfCombinedEntity">Revenue of combined entity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueOfCombinedEntity" xlink:to="label_RevenueOfCombinedEntity" xlink:title="Label : RevenueOfCombinedEntity to label_RevenueOfCombinedEntity" />
    <link:label xlink:type="resource" xlink:label="label_RevenueOfCombinedEntity_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RevenueOfCombinedEntity_1" xml:lang="en-US" id="label_RevenueOfCombinedEntity_1">Revenue of combined entity as if combination occurred at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenueOfCombinedEntity" xlink:to="label_RevenueOfCombinedEntity_1" xlink:title="Label : RevenueOfCombinedEntity to label_RevenueOfCombinedEntity_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BusinessAcquisitionRelatedExpense" xlink:label="BusinessAcquisitionRelatedExpense" xlink:title="BusinessAcquisitionRelatedExpense" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessAcquisitionRelatedExpense" xml:lang="en-US" id="label_BusinessAcquisitionRelatedExpense">Business Acquisition Related Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionRelatedExpense" xlink:to="label_BusinessAcquisitionRelatedExpense" xlink:title="Label : BusinessAcquisitionRelatedExpense to label_BusinessAcquisitionRelatedExpense" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionRelatedExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BusinessAcquisitionRelatedExpense_1" xml:lang="en-US" id="label_BusinessAcquisitionRelatedExpense_1">Business acquisition related expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionRelatedExpense" xlink:to="label_BusinessAcquisitionRelatedExpense_1" xlink:title="Label : BusinessAcquisitionRelatedExpense to label_BusinessAcquisitionRelatedExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_BusinessAcquisitionRelatedExpense_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BusinessAcquisitionRelatedExpense_2" xml:lang="en-US" id="label_BusinessAcquisitionRelatedExpense_2">Business acquisition related expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionRelatedExpense" xlink:to="label_BusinessAcquisitionRelatedExpense_2" xlink:title="Label : BusinessAcquisitionRelatedExpense to label_BusinessAcquisitionRelatedExpense_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract">Disclosure of non-adjusting events after reporting period [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" xlink:title="Label : DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract to label_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable">Disclosure of non-adjusting events after reporting period [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:title="Label : DisclosureOfNonadjustingEventsAfterReportingPeriodTable to label_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenGroupMember" xlink:label="RaizenGroupMember" xlink:title="RaizenGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenGroupMember" xml:lang="en-US" id="label_RaizenGroupMember">Raizen Group [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenGroupMember" xlink:to="label_RaizenGroupMember" xlink:title="Label : RaizenGroupMember to label_RaizenGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenGroupMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenGroupMember_1" xml:lang="en-US" id="label_RaizenGroupMember_1">This member stands for the information pertaining to Raizen group, a joint venture of the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenGroupMember" xlink:to="label_RaizenGroupMember_1" xlink:title="Label : RaizenGroupMember to label_RaizenGroupMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenGroupMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenGroupMember_2" xml:lang="en-US" id="label_RaizenGroupMember_2">Ra&#xED;zen [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenGroupMember" xlink:to="label_RaizenGroupMember_2" xlink:title="Label : RaizenGroupMember to label_RaizenGroupMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BiosevSAMember" xlink:label="BiosevSAMember" xlink:title="BiosevSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BiosevSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BiosevSAMember" xml:lang="en-US" id="label_BiosevSAMember">Biosev S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiosevSAMember" xlink:to="label_BiosevSAMember" xlink:title="Label : BiosevSAMember to label_BiosevSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BiosevSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BiosevSAMember_1" xml:lang="en-US" id="label_BiosevSAMember_1">This member stands for the information pertaining to Biosev S.A., a subsidiary of the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiosevSAMember" xlink:to="label_BiosevSAMember_1" xlink:title="Label : BiosevSAMember to label_BiosevSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BiosevSAMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BiosevSAMember_2" xml:lang="en-US" id="label_BiosevSAMember_2">Biosev S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiosevSAMember" xlink:to="label_BiosevSAMember_2" xlink:title="Label : BiosevSAMember to label_BiosevSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems">Disclosure of non-adjusting events after reporting period [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:title="Label : DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_1" xml:lang="en-US" id="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_1">Subsequent events</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:to="label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_1" xlink:title="Label : DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems to label_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContingentAssetRecognizedForServiceConcessionArrangement" xlink:label="ContingentAssetRecognizedForServiceConcessionArrangement" xlink:title="ContingentAssetRecognizedForServiceConcessionArrangement" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetRecognizedForServiceConcessionArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentAssetRecognizedForServiceConcessionArrangement" xml:lang="en-US" id="label_ContingentAssetRecognizedForServiceConcessionArrangement">Contingent asset recognized for service concession arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetRecognizedForServiceConcessionArrangement" xlink:to="label_ContingentAssetRecognizedForServiceConcessionArrangement" xlink:title="Label : ContingentAssetRecognizedForServiceConcessionArrangement to label_ContingentAssetRecognizedForServiceConcessionArrangement" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetRecognizedForServiceConcessionArrangement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContingentAssetRecognizedForServiceConcessionArrangement_1" xml:lang="en-US" id="label_ContingentAssetRecognizedForServiceConcessionArrangement_1">The amount of contingent asset recognized for service concession arrangement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetRecognizedForServiceConcessionArrangement" xlink:to="label_ContingentAssetRecognizedForServiceConcessionArrangement_1" xlink:title="Label : ContingentAssetRecognizedForServiceConcessionArrangement to label_ContingentAssetRecognizedForServiceConcessionArrangement_1" />
    <link:label xlink:type="resource" xlink:label="label_ContingentAssetRecognizedForServiceConcessionArrangement_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentAssetRecognizedForServiceConcessionArrangement_2" xml:lang="en-US" id="label_ContingentAssetRecognizedForServiceConcessionArrangement_2">Contingent asset recognized for service concession arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentAssetRecognizedForServiceConcessionArrangement" xlink:to="label_ContingentAssetRecognizedForServiceConcessionArrangement_2" xlink:title="Label : ContingentAssetRecognizedForServiceConcessionArrangement to label_ContingentAssetRecognizedForServiceConcessionArrangement_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:label="AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:title="AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" />
    <link:label xlink:type="resource" xlink:label="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xml:lang="en-US" id="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth">Assumptions used in discounted cash flow projections, period of long term growth</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:to="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:title="Label : AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth to label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:label="PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:title="PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xml:lang="en-US" id="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment">Period of tariff cycles for natural gas sales, with annual inflation adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:to="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:title="Label : PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment to label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_1" xml:lang="en-US" id="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_1">The period of tariff cycles for natural gas sales, with annual inflation adjustment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:to="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_1" xlink:title="Label : PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment to label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StockSplitConversionRatio" xlink:label="StockSplitConversionRatio" xlink:title="StockSplitConversionRatio" />
    <link:label xlink:type="resource" xlink:label="label_StockSplitConversionRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StockSplitConversionRatio" xml:lang="en-US" id="label_StockSplitConversionRatio">The ratio applied to the conversion of stock split, for example but not limited to, one share converted to two or two shares converted to one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockSplitConversionRatio" xlink:to="label_StockSplitConversionRatio" xlink:title="Label : StockSplitConversionRatio to label_StockSplitConversionRatio" />
    <link:label xlink:type="resource" xlink:label="label_StockSplitConversionRatio_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockSplitConversionRatio_1" xml:lang="en-US" id="label_StockSplitConversionRatio_1">Stock Split, Conversion Ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockSplitConversionRatio" xlink:to="label_StockSplitConversionRatio_1" xlink:title="Label : StockSplitConversionRatio to label_StockSplitConversionRatio_1" />
    <link:label xlink:type="resource" xlink:label="label_StockSplitConversionRatio_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockSplitConversionRatio_2" xml:lang="en-US" id="label_StockSplitConversionRatio_2">Stock Split Conversion Ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockSplitConversionRatio" xlink:to="label_StockSplitConversionRatio_2" xlink:title="Label : StockSplitConversionRatio to label_StockSplitConversionRatio_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ProductionBarrelsOfOilEquivalents1" xlink:label="ProductionBarrelsOfOilEquivalents1" xlink:title="ProductionBarrelsOfOilEquivalents1" />
    <link:label xlink:type="resource" xlink:label="label_ProductionBarrelsOfOilEquivalents1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProductionBarrelsOfOilEquivalents1" xml:lang="en-US" id="label_ProductionBarrelsOfOilEquivalents1">Supply capacity committed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductionBarrelsOfOilEquivalents1" xlink:to="label_ProductionBarrelsOfOilEquivalents1" xlink:title="Label : ProductionBarrelsOfOilEquivalents1 to label_ProductionBarrelsOfOilEquivalents1" />
    <link:label xlink:type="resource" xlink:label="label_ProductionBarrelsOfOilEquivalents1_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProductionBarrelsOfOilEquivalents1_1" xml:lang="en-US" id="label_ProductionBarrelsOfOilEquivalents1_1">Oil and Gas, Production Reserve, Energy</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProductionBarrelsOfOilEquivalents1" xlink:to="label_ProductionBarrelsOfOilEquivalents1_1" xlink:title="Label : ProductionBarrelsOfOilEquivalents1 to label_ProductionBarrelsOfOilEquivalents1_1" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_2" xml:lang="en-US" id="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_2">Period of tariff cycles for natural gas sales, with annual inflation adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" xlink:to="label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_2" xlink:title="Label : PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment to label_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xlink:label="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xlink:title="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xml:lang="en-US" id="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable">Disclosure of expected impact of initial application of new standards or interpretations [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xlink:to="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xlink:title="Label : DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable to label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable_1" xml:lang="en-US" id="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable_1">Disclosure of expected impact of initial application of new standards or interpretations [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable" xlink:to="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable_1" xlink:title="Label : DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable to label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsTable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xlink:label="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xlink:title="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xml:lang="en-US" id="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems">Disclosure of expected impact of initial application of new standards or interpretations [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xlink:to="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xlink:title="Label : DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems to label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems_1" xml:lang="en-US" id="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems_1">Disclosure of expected impact of initial application of new standards or interpretations [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems" xlink:to="label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems_1" xlink:title="Label : DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems to label_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfAverageMeasurementMultiples" xlink:label="DescriptionOfAverageMeasurementMultiples" xlink:title="DescriptionOfAverageMeasurementMultiples" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAverageMeasurementMultiples" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAverageMeasurementMultiples" xml:lang="en-US" id="label_DescriptionOfAverageMeasurementMultiples">Description Of Average Measurement Multiples</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAverageMeasurementMultiples" xlink:to="label_DescriptionOfAverageMeasurementMultiples" xlink:title="Label : DescriptionOfAverageMeasurementMultiples to label_DescriptionOfAverageMeasurementMultiples" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAverageMeasurementMultiples_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfAverageMeasurementMultiples_1" xml:lang="en-US" id="label_DescriptionOfAverageMeasurementMultiples_1">Description of average measurement multiples.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAverageMeasurementMultiples" xlink:to="label_DescriptionOfAverageMeasurementMultiples_1" xlink:title="Label : DescriptionOfAverageMeasurementMultiples to label_DescriptionOfAverageMeasurementMultiples_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Goodwill" xlink:label="Goodwill" xlink:title="Goodwill" />
    <link:label xlink:type="resource" xlink:label="label_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Goodwill" xml:lang="en-US" id="label_Goodwill">Goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Goodwill" xlink:to="label_Goodwill" xlink:title="Label : Goodwill to label_Goodwill" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeaseTerm" xlink:label="LeaseTerm" xlink:title="LeaseTerm" />
    <link:label xlink:type="resource" xlink:label="label_LeaseTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseTerm" xml:lang="en-US" id="label_LeaseTerm">Lease term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseTerm" xlink:to="label_LeaseTerm" xlink:title="Label : LeaseTerm to label_LeaseTerm" />
    <link:label xlink:type="resource" xlink:label="label_LeaseTerm_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LeaseTerm_1" xml:lang="en-US" id="label_LeaseTerm_1">Lease Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseTerm" xlink:to="label_LeaseTerm_1" xlink:title="Label : LeaseTerm to label_LeaseTerm_1" />
    <link:label xlink:type="resource" xlink:label="label_LeaseTerm_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseTerm_2" xml:lang="en-US" id="label_LeaseTerm_2">Lease Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseTerm" xlink:to="label_LeaseTerm_2" xlink:title="Label : LeaseTerm to label_LeaseTerm_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MonetaryVariationOfOtherFinancialAssets" xlink:label="MonetaryVariationOfOtherFinancialAssets" xlink:title="MonetaryVariationOfOtherFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOfOtherFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MonetaryVariationOfOtherFinancialAssets" xml:lang="en-US" id="label_MonetaryVariationOfOtherFinancialAssets">Represents monetary variation of other financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOfOtherFinancialAssets" xlink:to="label_MonetaryVariationOfOtherFinancialAssets" xlink:title="Label : MonetaryVariationOfOtherFinancialAssets to label_MonetaryVariationOfOtherFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOfOtherFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MonetaryVariationOfOtherFinancialAssets_1" xml:lang="en-US" id="label_MonetaryVariationOfOtherFinancialAssets_1">Monetary variation of other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOfOtherFinancialAssets" xlink:to="label_MonetaryVariationOfOtherFinancialAssets_1" xlink:title="Label : MonetaryVariationOfOtherFinancialAssets to label_MonetaryVariationOfOtherFinancialAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:label="GainRecognisedInBargainPurchaseTransaction" xlink:title="GainRecognisedInBargainPurchaseTransaction" />
    <link:label xlink:type="resource" xlink:label="label_GainRecognisedInBargainPurchaseTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainRecognisedInBargainPurchaseTransaction" xml:lang="en-US" id="label_GainRecognisedInBargainPurchaseTransaction">Gain from bargain purchase (Note 9.3)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainRecognisedInBargainPurchaseTransaction" xlink:to="label_GainRecognisedInBargainPurchaseTransaction" xlink:title="Label : GainRecognisedInBargainPurchaseTransaction to label_GainRecognisedInBargainPurchaseTransaction" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:label="GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:title="GainsLossesOnFairValueAdjustmentInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainsLossesOnFairValueAdjustmentInvestmentProperty" xml:lang="en-US" id="label_GainsLossesOnFairValueAdjustmentInvestmentProperty">Change in fair value of investment properties (note 11.5)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:to="label_GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:title="Label : GainsLossesOnFairValueAdjustmentInvestmentProperty to label_GainsLossesOnFairValueAdjustmentInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_GainRecognisedInBargainPurchaseTransaction_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainRecognisedInBargainPurchaseTransaction_1" xml:lang="en-US" id="label_GainRecognisedInBargainPurchaseTransaction_1">Gain recognised in bargain purchase transaction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainRecognisedInBargainPurchaseTransaction" xlink:to="label_GainRecognisedInBargainPurchaseTransaction_1" xlink:title="Label : GainRecognisedInBargainPurchaseTransaction to label_GainRecognisedInBargainPurchaseTransaction_1" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_1" xml:lang="en-US" id="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_1">Gains (losses) on fair value adjustment, investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:to="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_1" xlink:title="Label : GainsLossesOnFairValueAdjustmentInvestmentProperty to label_GainsLossesOnFairValueAdjustmentInvestmentProperty_1" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLossBeforeTax_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ProfitLossBeforeTax_3" xml:lang="en-US" id="label_ProfitLossBeforeTax_3">Profit before income taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLossBeforeTax" xlink:to="label_ProfitLossBeforeTax_3" xlink:title="Label : ProfitLossBeforeTax to label_ProfitLossBeforeTax_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_August2028Member" xlink:label="August2028Member" xlink:title="August2028Member" />
    <link:label xlink:type="resource" xlink:label="label_August2028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_August2028Member" xml:lang="en-US" id="label_August2028Member">August-2028</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2028Member" xlink:to="label_August2028Member" xlink:title="Label : August2028Member to label_August2028Member" />
    <link:label xlink:type="resource" xlink:label="label_August2028Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_August2028Member_1" xml:lang="en-US" id="label_August2028Member_1">August 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2028Member" xlink:to="label_August2028Member_1" xlink:title="Label : August2028Member to label_August2028Member_1" />
    <link:label xlink:type="resource" xlink:label="label_August2028Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_August2028Member_2" xml:lang="en-US" id="label_August2028Member_2">This member stands for a time band of August-2028.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="August2028Member" xlink:to="label_August2028Member_2" xlink:title="Label : August2028Member to label_August2028Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_July2023Member" xlink:label="July2023Member" xlink:title="July2023Member" />
    <link:label xlink:type="resource" xlink:label="label_July2023Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_July2023Member" xml:lang="en-US" id="label_July2023Member">July-2023</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July2023Member" xlink:to="label_July2023Member" xlink:title="Label : July2023Member to label_July2023Member" />
    <link:label xlink:type="resource" xlink:label="label_July2023Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_July2023Member_1" xml:lang="en-US" id="label_July2023Member_1">July 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July2023Member" xlink:to="label_July2023Member_1" xlink:title="Label : July2023Member to label_July2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_July2023Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_July2023Member_2" xml:lang="en-US" id="label_July2023Member_2">This member stands for a time band of July-2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="July2023Member" xlink:to="label_July2023Member_2" xlink:title="Label : July2023Member to label_July2023Member_2" />
    <link:label xlink:type="resource" xlink:label="label_October2033Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_October2033Member_1" xml:lang="en-US" id="label_October2033Member_1">October 2033 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2033Member" xlink:to="label_October2033Member_1" xlink:title="Label : October2033Member to label_October2033Member_1" />
    <link:label xlink:type="resource" xlink:label="label_October2033Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_October2033Member_2" xml:lang="en-US" id="label_October2033Member_2">This member stands for a time band of October-2033.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="October2033Member" xlink:to="label_October2033Member_2" xlink:title="Label : October2033Member to label_October2033Member_2" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2">Later than one year and not later than two years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2" xlink:title="Label : LaterThanOneYearAndNotLaterThanTwoYearsMember to label_LaterThanOneYearAndNotLaterThanTwoYearsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SharePurchaseAgreementMember" xlink:label="SharePurchaseAgreementMember" xlink:title="SharePurchaseAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_SharePurchaseAgreementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharePurchaseAgreementMember" xml:lang="en-US" id="label_SharePurchaseAgreementMember">Share Purchase agreement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePurchaseAgreementMember" xlink:to="label_SharePurchaseAgreementMember" xlink:title="Label : SharePurchaseAgreementMember to label_SharePurchaseAgreementMember" />
    <link:label xlink:type="resource" xlink:label="label_SharePurchaseAgreementMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SharePurchaseAgreementMember_1" xml:lang="en-US" id="label_SharePurchaseAgreementMember_1">This member stands for the information pertaining to Share Purchase agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePurchaseAgreementMember" xlink:to="label_SharePurchaseAgreementMember_1" xlink:title="Label : SharePurchaseAgreementMember to label_SharePurchaseAgreementMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExtraordinaryShareholdersMeetingMember" xlink:label="ExtraordinaryShareholdersMeetingMember" xlink:title="ExtraordinaryShareholdersMeetingMember" />
    <link:label xlink:type="resource" xlink:label="label_ExtraordinaryShareholdersMeetingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExtraordinaryShareholdersMeetingMember" xml:lang="en-US" id="label_ExtraordinaryShareholdersMeetingMember">This member stands for the information pertaining to Extraordinary Shareholders&#x2019; Meeting.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraordinaryShareholdersMeetingMember" xlink:to="label_ExtraordinaryShareholdersMeetingMember" xlink:title="Label : ExtraordinaryShareholdersMeetingMember to label_ExtraordinaryShareholdersMeetingMember" />
    <link:label xlink:type="resource" xlink:label="label_ExtraordinaryShareholdersMeetingMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExtraordinaryShareholdersMeetingMember_1" xml:lang="en-US" id="label_ExtraordinaryShareholdersMeetingMember_1">Extraordinary Shareholders&#x2019; Meeting [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraordinaryShareholdersMeetingMember" xlink:to="label_ExtraordinaryShareholdersMeetingMember_1" xlink:title="Label : ExtraordinaryShareholdersMeetingMember to label_ExtraordinaryShareholdersMeetingMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NstechSAMember" xlink:label="NstechSAMember" xlink:title="NstechSAMember" />
    <link:label xlink:type="resource" xlink:label="label_NstechSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NstechSAMember" xml:lang="en-US" id="label_NstechSAMember">Nstech S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NstechSAMember" xlink:to="label_NstechSAMember" xlink:title="Label : NstechSAMember to label_NstechSAMember" />
    <link:label xlink:type="resource" xlink:label="label_NstechSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NstechSAMember_1" xml:lang="en-US" id="label_NstechSAMember_1">This member stands for the information pertaining to Nstech S.A. (&#x201C;Nstech&#x201D;).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NstechSAMember" xlink:to="label_NstechSAMember_1" xlink:title="Label : NstechSAMember to label_NstechSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NstechSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NstechSAMember_2" xml:lang="en-US" id="label_NstechSAMember_2">Nstech S.A. [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NstechSAMember" xlink:to="label_NstechSAMember_2" xlink:title="Label : NstechSAMember to label_NstechSAMember_2" />
    <link:label xlink:type="resource" xlink:label="label_ExtraordinaryShareholdersMeetingMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExtraordinaryShareholdersMeetingMember_2" xml:lang="en-US" id="label_ExtraordinaryShareholdersMeetingMember_2">Extraordinary Shareholders&#x2019; Meeting</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExtraordinaryShareholdersMeetingMember" xlink:to="label_ExtraordinaryShareholdersMeetingMember_2" xlink:title="Label : ExtraordinaryShareholdersMeetingMember to label_ExtraordinaryShareholdersMeetingMember_2" />
    <link:label xlink:type="resource" xlink:label="label_SharePurchaseAgreementMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharePurchaseAgreementMember_2" xml:lang="en-US" id="label_SharePurchaseAgreementMember_2">Share Purchase agreement [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharePurchaseAgreementMember" xlink:to="label_SharePurchaseAgreementMember_2" xlink:title="Label : SharePurchaseAgreementMember to label_SharePurchaseAgreementMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ApprovalAmountOfIncreaseInShareCapital" xlink:label="ApprovalAmountOfIncreaseInShareCapital" xlink:title="ApprovalAmountOfIncreaseInShareCapital" />
    <link:label xlink:type="resource" xlink:label="label_ApprovalAmountOfIncreaseInShareCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ApprovalAmountOfIncreaseInShareCapital" xml:lang="en-US" id="label_ApprovalAmountOfIncreaseInShareCapital">Approval amount of increase in share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ApprovalAmountOfIncreaseInShareCapital" xlink:to="label_ApprovalAmountOfIncreaseInShareCapital" xlink:title="Label : ApprovalAmountOfIncreaseInShareCapital to label_ApprovalAmountOfIncreaseInShareCapital" />
    <link:label xlink:type="resource" xlink:label="label_ApprovalAmountOfIncreaseInShareCapital_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ApprovalAmountOfIncreaseInShareCapital_1" xml:lang="en-US" id="label_ApprovalAmountOfIncreaseInShareCapital_1">The approval amount of increase in share capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ApprovalAmountOfIncreaseInShareCapital" xlink:to="label_ApprovalAmountOfIncreaseInShareCapital_1" xlink:title="Label : ApprovalAmountOfIncreaseInShareCapital to label_ApprovalAmountOfIncreaseInShareCapital_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:label="ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:title="ConsiderationToBePaidUntilOneYearAfterClosingDate" />
    <link:label xlink:type="resource" xlink:label="label_ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConsiderationToBePaidUntilOneYearAfterClosingDate" xml:lang="en-US" id="label_ConsiderationToBePaidUntilOneYearAfterClosingDate">The amount of consideration to be paid until one year after closing date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:to="label_ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:title="Label : ConsiderationToBePaidUntilOneYearAfterClosingDate to label_ConsiderationToBePaidUntilOneYearAfterClosingDate" />
    <link:label xlink:type="resource" xlink:label="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_1" xml:lang="en-US" id="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_1">Consideration to be paid until one year after closing date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:to="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_1" xlink:title="Label : ConsiderationToBePaidUntilOneYearAfterClosingDate to label_ConsiderationToBePaidUntilOneYearAfterClosingDate_1" />
    <link:label xlink:type="resource" xlink:label="label_ApprovalAmountOfIncreaseInShareCapital_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ApprovalAmountOfIncreaseInShareCapital_2" xml:lang="en-US" id="label_ApprovalAmountOfIncreaseInShareCapital_2">Approval amount of increase in share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ApprovalAmountOfIncreaseInShareCapital" xlink:to="label_ApprovalAmountOfIncreaseInShareCapital_2" xlink:title="Label : ApprovalAmountOfIncreaseInShareCapital to label_ApprovalAmountOfIncreaseInShareCapital_2" />
    <link:label xlink:type="resource" xlink:label="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_2" xml:lang="en-US" id="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_2">Consideration to be paid until one year after closing date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsiderationToBePaidUntilOneYearAfterClosingDate" xlink:to="label_ConsiderationToBePaidUntilOneYearAfterClosingDate_2" xlink:title="Label : ConsiderationToBePaidUntilOneYearAfterClosingDate to label_ConsiderationToBePaidUntilOneYearAfterClosingDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SubscriptionOfShareCapitalOfSubsidiary" xlink:label="SubscriptionOfShareCapitalOfSubsidiary" xlink:title="SubscriptionOfShareCapitalOfSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionOfShareCapitalOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubscriptionOfShareCapitalOfSubsidiary" xml:lang="en-US" id="label_SubscriptionOfShareCapitalOfSubsidiary">Subscription of share capital of subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionOfShareCapitalOfSubsidiary" xlink:to="label_SubscriptionOfShareCapitalOfSubsidiary" xlink:title="Label : SubscriptionOfShareCapitalOfSubsidiary to label_SubscriptionOfShareCapitalOfSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionOfShareCapitalOfSubsidiary_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SubscriptionOfShareCapitalOfSubsidiary_1" xml:lang="en-US" id="label_SubscriptionOfShareCapitalOfSubsidiary_1">The subscription amount of share capital of subsidiary.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionOfShareCapitalOfSubsidiary" xlink:to="label_SubscriptionOfShareCapitalOfSubsidiary_1" xlink:title="Label : SubscriptionOfShareCapitalOfSubsidiary to label_SubscriptionOfShareCapitalOfSubsidiary_1" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionOfShareCapitalOfSubsidiary_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubscriptionOfShareCapitalOfSubsidiary_2" xml:lang="en-US" id="label_SubscriptionOfShareCapitalOfSubsidiary_2">Subscription of share capital of subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionOfShareCapitalOfSubsidiary" xlink:to="label_SubscriptionOfShareCapitalOfSubsidiary_2" xlink:title="Label : SubscriptionOfShareCapitalOfSubsidiary to label_SubscriptionOfShareCapitalOfSubsidiary_2" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentPropertyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentPropertyMember_1" xml:lang="en-US" id="label_InvestmentPropertyMember_1">Investment properties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentPropertyMember" xlink:to="label_InvestmentPropertyMember_1" xlink:title="Label : InvestmentPropertyMember to label_InvestmentPropertyMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Debentures1StIssueMember" xlink:label="Debentures1StIssueMember" xlink:title="Debentures1StIssueMember" />
    <link:label xlink:type="resource" xlink:label="label_Debentures1StIssueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Debentures1StIssueMember" xml:lang="en-US" id="label_Debentures1StIssueMember">Debentures 1st issue [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Debentures1StIssueMember" xlink:to="label_Debentures1StIssueMember" xlink:title="Label : Debentures1StIssueMember to label_Debentures1StIssueMember" />
    <link:label xlink:type="resource" xlink:label="label_Debentures1StIssueMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Debentures1StIssueMember_1" xml:lang="en-US" id="label_Debentures1StIssueMember_1">This member stands for the information pertaining to Debentures 1st issue.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Debentures1StIssueMember" xlink:to="label_Debentures1StIssueMember_1" xlink:title="Label : Debentures1StIssueMember to label_Debentures1StIssueMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Debentures1StIssueMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Debentures1StIssueMember_2" xml:lang="en-US" id="label_Debentures1StIssueMember_2">Debentures 1St Issue [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Debentures1StIssueMember" xlink:to="label_Debentures1StIssueMember_2" xlink:title="Label : Debentures1StIssueMember to label_Debentures1StIssueMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebenturesNinthIssueFirstSeriesMember" xlink:label="DebenturesNinthIssueFirstSeriesMember" xlink:title="DebenturesNinthIssueFirstSeriesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesNinthIssueFirstSeriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebenturesNinthIssueFirstSeriesMember" xml:lang="en-US" id="label_DebenturesNinthIssueFirstSeriesMember">Debenture 9th issue - 1st series</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesNinthIssueFirstSeriesMember" xlink:to="label_DebenturesNinthIssueFirstSeriesMember" xlink:title="Label : DebenturesNinthIssueFirstSeriesMember to label_DebenturesNinthIssueFirstSeriesMember" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesNinthIssueFirstSeriesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebenturesNinthIssueFirstSeriesMember_1" xml:lang="en-US" id="label_DebenturesNinthIssueFirstSeriesMember_1">Debentures Ninth Issue First Series [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesNinthIssueFirstSeriesMember" xlink:to="label_DebenturesNinthIssueFirstSeriesMember_1" xlink:title="Label : DebenturesNinthIssueFirstSeriesMember to label_DebenturesNinthIssueFirstSeriesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebenturesNinthIssueFirstSeriesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesNinthIssueFirstSeriesMember_2" xml:lang="en-US" id="label_DebenturesNinthIssueFirstSeriesMember_2">This member stands for the information pertaining to debentures ninth issue first series.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesNinthIssueFirstSeriesMember" xlink:to="label_DebenturesNinthIssueFirstSeriesMember_2" xlink:title="Label : DebenturesNinthIssueFirstSeriesMember to label_DebenturesNinthIssueFirstSeriesMember_2" />
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    <link:label xlink:type="resource" xlink:label="label_DebenturesNinthIssueSecondSeriesMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebenturesNinthIssueSecondSeriesMember_2" xml:lang="en-US" id="label_DebenturesNinthIssueSecondSeriesMember_2">This member stands for the information pertaining to debentures ninth issue second series.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebenturesNinthIssueSecondSeriesMember" xlink:to="label_DebenturesNinthIssueSecondSeriesMember_2" xlink:title="Label : DebenturesNinthIssueSecondSeriesMember to label_DebenturesNinthIssueSecondSeriesMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSwapsNotesDue2028Member" xlink:to="label_SeniorSwapsNotesDue2028Member_2" xlink:title="Label : SeniorSwapsNotesDue2028Member to label_SeniorSwapsNotesDue2028Member_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSwapsNotesDue2032Member" xlink:to="label_SeniorSwapsNotesDue2032Member_2" xlink:title="Label : SeniorSwapsNotesDue2032Member to label_SeniorSwapsNotesDue2032Member_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtlanticoParticipacoesLtdaMember" xlink:to="label_AtlanticoParticipacoesLtdaMember_2" xlink:title="Label : AtlanticoParticipacoesLtdaMember to label_AtlanticoParticipacoesLtdaMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VioletaFundoDeInvestimentoMultimercadoMember" xlink:to="label_VioletaFundoDeInvestimentoMultimercadoMember_2" xlink:title="Label : VioletaFundoDeInvestimentoMultimercadoMember to label_VioletaFundoDeInvestimentoMultimercadoMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassComercializacaoSAMember" xlink:to="label_CompassComercializacaoSAMember_2" xlink:title="Label : CompassComercializacaoSAMember to label_CompassComercializacaoSAMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NovaAgricolaPonteAltaSAMember" xlink:to="label_NovaAgricolaPonteAltaSAMember" xlink:title="Label : NovaAgricolaPonteAltaSAMember to label_NovaAgricolaPonteAltaSAMember" />
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    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentoseParticipacoesSAMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CosanInvestimentoseParticipacoesSAMember_3" xml:lang="en-US" id="label_CosanInvestimentoseParticipacoesSAMember_3">Cosan Investimentos [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentoseParticipacoesSAMember" xlink:to="label_CosanInvestimentoseParticipacoesSAMember_3" xlink:title="Label : CosanInvestimentoseParticipacoesSAMember to label_CosanInvestimentoseParticipacoesSAMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenMember" xlink:label="RaizenMember" xlink:title="RaizenMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenMember" xml:lang="en-US" id="label_RaizenMember">Raizen [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenMember" xlink:to="label_RaizenMember" xlink:title="Label : RaizenMember to label_RaizenMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenMember_1" xml:lang="en-US" id="label_RaizenMember_1">Represents reported segment Ra&#xED;zen.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenMember" xlink:to="label_RaizenMember_1" xlink:title="Label : RaizenMember to label_RaizenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenMember_2" xml:lang="en-US" id="label_RaizenMember_2">Ra&#xED;zen</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenMember" xlink:to="label_RaizenMember_2" xlink:title="Label : RaizenMember to label_RaizenMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanInvestimentosMember" xlink:label="CosanInvestimentosMember" xlink:title="CosanInvestimentosMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanInvestimentosMember" xml:lang="en-US" id="label_CosanInvestimentosMember">Cosan Investiments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentosMember" xlink:to="label_CosanInvestimentosMember" xlink:title="Label : CosanInvestimentosMember to label_CosanInvestimentosMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentosMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanInvestimentosMember_1" xml:lang="en-US" id="label_CosanInvestimentosMember_1">Represents reported segment Cosan Investimentos.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentosMember" xlink:to="label_CosanInvestimentosMember_1" xlink:title="Label : CosanInvestimentosMember to label_CosanInvestimentosMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentosMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanInvestimentosMember_2" xml:lang="en-US" id="label_CosanInvestimentosMember_2">Cosan Investimentos [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentosMember" xlink:to="label_CosanInvestimentosMember_2" xlink:title="Label : CosanInvestimentosMember to label_CosanInvestimentosMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InvestmentProperty" xlink:label="InvestmentProperty" xlink:title="InvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_InvestmentProperty" xml:lang="en-US" id="label_InvestmentProperty">Closing balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProperty" xlink:to="label_InvestmentProperty" xlink:title="Label : InvestmentProperty to label_InvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProperty_1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_InvestmentProperty_1" xml:lang="en-US" id="label_InvestmentProperty_1">Opening Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProperty" xlink:to="label_InvestmentProperty_1" xlink:title="Label : InvestmentProperty to label_InvestmentProperty_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GasolineMember" xlink:label="GasolineMember" xlink:title="GasolineMember" />
    <link:label xlink:type="resource" xlink:label="label_GasolineMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GasolineMember" xml:lang="en-US" id="label_GasolineMember">Gasoline [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasolineMember" xlink:to="label_GasolineMember" xlink:title="Label : GasolineMember to label_GasolineMember" />
    <link:label xlink:type="resource" xlink:label="label_GasolineMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GasolineMember_1" xml:lang="en-US" id="label_GasolineMember_1">Represents reported segment Gasolina.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasolineMember" xlink:to="label_GasolineMember_1" xlink:title="Label : GasolineMember to label_GasolineMember_1" />
    <link:label xlink:type="resource" xlink:label="label_GasolineMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GasolineMember_2" xml:lang="en-US" id="label_GasolineMember_2">Gasolina</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GasolineMember" xlink:to="label_GasolineMember_2" xlink:title="Label : GasolineMember to label_GasolineMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LandLeasesMember" xlink:label="LandLeasesMember" xlink:title="LandLeasesMember" />
    <link:label xlink:type="resource" xlink:label="label_LandLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LandLeasesMember" xml:lang="en-US" id="label_LandLeasesMember">Land leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandLeasesMember" xlink:to="label_LandLeasesMember" xlink:title="Label : LandLeasesMember to label_LandLeasesMember" />
    <link:label xlink:type="resource" xlink:label="label_LandLeasesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LandLeasesMember_1" xml:lang="en-US" id="label_LandLeasesMember_1">Represents reported segment Land Leases.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandLeasesMember" xlink:to="label_LandLeasesMember_1" xlink:title="Label : LandLeasesMember to label_LandLeasesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LandLeasesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LandLeasesMember_2" xml:lang="en-US" id="label_LandLeasesMember_2">Land Leases [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandLeasesMember" xlink:to="label_LandLeasesMember_2" xlink:title="Label : LandLeasesMember to label_LandLeasesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_WeightedRemunerationBasisPointsPerAnnum_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedRemunerationBasisPointsPerAnnum_2" xml:lang="en-US" id="label_WeightedRemunerationBasisPointsPerAnnum_2">Weighted remuneration (in bps)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedRemunerationBasisPointsPerAnnum" xlink:to="label_WeightedRemunerationBasisPointsPerAnnum_2" xlink:title="Label : WeightedRemunerationBasisPointsPerAnnum to label_WeightedRemunerationBasisPointsPerAnnum_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_WeightedRemunerationPercentagePerAnnum" xlink:label="WeightedRemunerationPercentagePerAnnum" xlink:title="WeightedRemunerationPercentagePerAnnum" />
    <link:label xlink:type="resource" xlink:label="label_WeightedRemunerationPercentagePerAnnum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_WeightedRemunerationPercentagePerAnnum" xml:lang="en-US" id="label_WeightedRemunerationPercentagePerAnnum">Weighted Remuneration Percentage Per Annum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedRemunerationPercentagePerAnnum" xlink:to="label_WeightedRemunerationPercentagePerAnnum" xlink:title="Label : WeightedRemunerationPercentagePerAnnum to label_WeightedRemunerationPercentagePerAnnum" />
    <link:label xlink:type="resource" xlink:label="label_WeightedRemunerationPercentagePerAnnum_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_WeightedRemunerationPercentagePerAnnum_1" xml:lang="en-US" id="label_WeightedRemunerationPercentagePerAnnum_1">Weighted remuneration (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedRemunerationPercentagePerAnnum" xlink:to="label_WeightedRemunerationPercentagePerAnnum_1" xlink:title="Label : WeightedRemunerationPercentagePerAnnum to label_WeightedRemunerationPercentagePerAnnum_1" />
    <link:label xlink:type="resource" xlink:label="label_WeightedRemunerationPercentagePerAnnum_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_WeightedRemunerationPercentagePerAnnum_2" xml:lang="en-US" id="label_WeightedRemunerationPercentagePerAnnum_2">Represents weighted average remuneration percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedRemunerationPercentagePerAnnum" xlink:to="label_WeightedRemunerationPercentagePerAnnum_2" xlink:title="Label : WeightedRemunerationPercentagePerAnnum to label_WeightedRemunerationPercentagePerAnnum_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ESGFundMember" xlink:label="ESGFundMember" xlink:title="ESGFundMember" />
    <link:label xlink:type="resource" xlink:label="label_ESGFundMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ESGFundMember" xml:lang="en-US" id="label_ESGFundMember">Represents ESG Funds.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ESGFundMember" xlink:to="label_ESGFundMember" xlink:title="Label : ESGFundMember to label_ESGFundMember" />
    <link:label xlink:type="resource" xlink:label="label_ESGFundMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ESGFundMember_1" xml:lang="en-US" id="label_ESGFundMember_1">ESG Funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ESGFundMember" xlink:to="label_ESGFundMember_1" xlink:title="Label : ESGFundMember to label_ESGFundMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ESGFundMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ESGFundMember_2" xml:lang="en-US" id="label_ESGFundMember_2">E S G Fund [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ESGFundMember" xlink:to="label_ESGFundMember_2" xlink:title="Label : ESGFundMember to label_ESGFundMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:label="ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:title="ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xml:lang="en-US" id="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation">Change In Allowance For Doubtful Accounts Due To Foreign Exchange Variation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:to="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:title="Label : ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation to label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_1" xml:lang="en-US" id="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_1">Foreign exchange</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:to="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_1" xlink:title="Label : ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation to label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_1" />
    <link:label xlink:type="resource" xlink:label="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_2" xml:lang="en-US" id="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_2">Represents change in the amount of expected credit losses on accounts receivable due to foreign exhange variation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" xlink:to="label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_2" xlink:title="Label : ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation to label_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfFinancialAssetsAxis" xlink:label="TypesOfFinancialAssetsAxis" xlink:title="TypesOfFinancialAssetsAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfFinancialAssetsAxis" xml:lang="en-US" id="label_TypesOfFinancialAssetsAxis">Types of financial assets [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfFinancialAssetsAxis" xlink:to="label_TypesOfFinancialAssetsAxis" xlink:title="Label : TypesOfFinancialAssetsAxis to label_TypesOfFinancialAssetsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssetsTypeMember" xlink:label="FinancialAssetsTypeMember" xlink:title="FinancialAssetsTypeMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsTypeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialAssetsTypeMember" xml:lang="en-US" id="label_FinancialAssetsTypeMember">Financial assets, type [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsTypeMember" xlink:to="label_FinancialAssetsTypeMember" xlink:title="Label : FinancialAssetsTypeMember to label_FinancialAssetsTypeMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RumoSASharesMember" xlink:label="RumoSASharesMember" xlink:title="RumoSASharesMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoSASharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RumoSASharesMember" xml:lang="en-US" id="label_RumoSASharesMember">Represents Rumo S.A. shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoSASharesMember" xlink:to="label_RumoSASharesMember" xlink:title="Label : RumoSASharesMember to label_RumoSASharesMember" />
    <link:label xlink:type="resource" xlink:label="label_RumoSASharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RumoSASharesMember_1" xml:lang="en-US" id="label_RumoSASharesMember_1">Rumo S.A. shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoSASharesMember" xlink:to="label_RumoSASharesMember_1" xlink:title="Label : RumoSASharesMember to label_RumoSASharesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RumoSASharesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RumoSASharesMember_2" xml:lang="en-US" id="label_RumoSASharesMember_2">Rumo S A Shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RumoSASharesMember" xlink:to="label_RumoSASharesMember_2" xlink:title="Label : RumoSASharesMember to label_RumoSASharesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanLogisticaSASharesMember" xlink:label="CosanLogisticaSASharesMember" xlink:title="CosanLogisticaSASharesMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogisticaSASharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanLogisticaSASharesMember" xml:lang="en-US" id="label_CosanLogisticaSASharesMember">Represents Cosan Log&#xED;stica S.A. shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogisticaSASharesMember" xlink:to="label_CosanLogisticaSASharesMember" xlink:title="Label : CosanLogisticaSASharesMember to label_CosanLogisticaSASharesMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogisticaSASharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanLogisticaSASharesMember_1" xml:lang="en-US" id="label_CosanLogisticaSASharesMember_1">Cosan Log&#xED;stica S.A. shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogisticaSASharesMember" xlink:to="label_CosanLogisticaSASharesMember_1" xlink:title="Label : CosanLogisticaSASharesMember to label_CosanLogisticaSASharesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanLogisticaSASharesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanLogisticaSASharesMember_2" xml:lang="en-US" id="label_CosanLogisticaSASharesMember_2">Cosan Log&#xED;stica S A Shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanLogisticaSASharesMember" xlink:to="label_CosanLogisticaSASharesMember_2" xlink:title="Label : CosanLogisticaSASharesMember to label_CosanLogisticaSASharesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_Resolution4131Member_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_Resolution4131Member_3" xml:lang="en-US" id="label_Resolution4131Member_3">Resolution 4,131</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution4131Member" xlink:to="label_Resolution4131Member_3" xlink:title="Label : Resolution4131Member to label_Resolution4131Member_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TellusEJanusSharesMember" xlink:label="TellusEJanusSharesMember" xlink:title="TellusEJanusSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_TellusEJanusSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TellusEJanusSharesMember" xml:lang="en-US" id="label_TellusEJanusSharesMember">Represents Tellus e Janus shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TellusEJanusSharesMember" xlink:to="label_TellusEJanusSharesMember" xlink:title="Label : TellusEJanusSharesMember to label_TellusEJanusSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_TellusEJanusSharesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TellusEJanusSharesMember_1" xml:lang="en-US" id="label_TellusEJanusSharesMember_1">Tellus and Janus shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TellusEJanusSharesMember" xlink:to="label_TellusEJanusSharesMember_1" xlink:title="Label : TellusEJanusSharesMember to label_TellusEJanusSharesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherNoncurrentFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherNoncurrentFinancialAssets_2" xml:lang="en-US" id="label_OtherNoncurrentFinancialAssets_2">Non-current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNoncurrentFinancialAssets" xlink:to="label_OtherNoncurrentFinancialAssets_2" xlink:title="Label : OtherNoncurrentFinancialAssets to label_OtherNoncurrentFinancialAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_OtherCurrentFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherCurrentFinancialAssets_2" xml:lang="en-US" id="label_OtherCurrentFinancialAssets_2">Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherCurrentFinancialAssets" xlink:to="label_OtherCurrentFinancialAssets_2" xlink:title="Label : OtherCurrentFinancialAssets to label_OtherCurrentFinancialAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:label="PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:title="PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xml:lang="en-US" id="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates">Percentage Of Preferred Shares In Entity Held By Entity Or By Its Subsidiaries Or Associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:title="Label : PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates to label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" xml:lang="en-US" id="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1">Percentage of preferred shares in the entity held by the entity or by its subsidiaries or associates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" xlink:title="Label : PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates to label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" xml:lang="en-US" id="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2">The percentage of preferred shares in the entity held by the entity or by its subsidiaries or associates.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" xlink:title="Label : PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates to label_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:label="PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:title="PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xml:lang="en-US" id="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive">Percentage Of Proposed Dividend Company And Other Shareholders Entitled To Receive</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:to="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:title="Label : PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive to label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_1" xml:lang="en-US" id="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_1">Percentage of proposed dividend Company and the other shareholders are entitled to receive</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:to="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_1" xlink:title="Label : PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive to label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_2" xml:lang="en-US" id="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_2">The percentage of proposed dividend Company and the other shareholders are entitled to receive.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" xlink:to="label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_2" xlink:title="Label : PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive to label_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:label="PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:title="PercentageOfCostOfGasClassifiedInCurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfCostOfGasClassifiedInCurrentAssets" xml:lang="en-US" id="label_PercentageOfCostOfGasClassifiedInCurrentAssets">Percentage Of Cost Of Gas Classified In Current Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:to="label_PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:title="Label : PercentageOfCostOfGasClassifiedInCurrentAssets to label_PercentageOfCostOfGasClassifiedInCurrentAssets" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCostOfGasClassifiedInCurrentAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfCostOfGasClassifiedInCurrentAssets_1" xml:lang="en-US" id="label_PercentageOfCostOfGasClassifiedInCurrentAssets_1">Cost of gas classified in current assets (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:to="label_PercentageOfCostOfGasClassifiedInCurrentAssets_1" xlink:title="Label : PercentageOfCostOfGasClassifiedInCurrentAssets to label_PercentageOfCostOfGasClassifiedInCurrentAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCostOfGasClassifiedInCurrentAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfCostOfGasClassifiedInCurrentAssets_2" xml:lang="en-US" id="label_PercentageOfCostOfGasClassifiedInCurrentAssets_2">Cost of gas classified in current assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCostOfGasClassifiedInCurrentAssets" xlink:to="label_PercentageOfCostOfGasClassifiedInCurrentAssets_2" xlink:title="Label : PercentageOfCostOfGasClassifiedInCurrentAssets to label_PercentageOfCostOfGasClassifiedInCurrentAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:label="DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:title="DerivativeFinancialInstrumentsSharesUnderDerivativeContract" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract">Derivative Financial Instruments Shares Under Derivative Contract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:to="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:title="Label : DerivativeFinancialInstrumentsSharesUnderDerivativeContract to label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_1" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_1">The contracted value of CSAN3 shares with total return swap (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:to="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_1" xlink:title="Label : DerivativeFinancialInstrumentsSharesUnderDerivativeContract to label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_2" xml:lang="en-US" id="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_2">Number of shares under derivative contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstrumentsSharesUnderDerivativeContract" xlink:to="label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_2" xlink:title="Label : DerivativeFinancialInstrumentsSharesUnderDerivativeContract to label_DerivativeFinancialInstrumentsSharesUnderDerivativeContract_2" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnChangeInFairValueOfDerivatives_3" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_GainsLossesOnChangeInFairValueOfDerivatives_3" xml:lang="en-US" id="label_GainsLossesOnChangeInFairValueOfDerivatives_3">Mark-to-market income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="label_GainsLossesOnChangeInFairValueOfDerivatives_3" xlink:title="Label : GainsLossesOnChangeInFairValueOfDerivatives to label_GainsLossesOnChangeInFairValueOfDerivatives_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MonthlyQuantityOfNaturalGasContracted" xlink:label="MonthlyQuantityOfNaturalGasContracted" xlink:title="MonthlyQuantityOfNaturalGasContracted" />
    <link:label xlink:type="resource" xlink:label="label_MonthlyQuantityOfNaturalGasContracted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MonthlyQuantityOfNaturalGasContracted" xml:lang="en-US" id="label_MonthlyQuantityOfNaturalGasContracted">Monthly Quantity Of Natural Gas Contracted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyQuantityOfNaturalGasContracted" xlink:to="label_MonthlyQuantityOfNaturalGasContracted" xlink:title="Label : MonthlyQuantityOfNaturalGasContracted to label_MonthlyQuantityOfNaturalGasContracted" />
    <link:label xlink:type="resource" xlink:label="label_MonthlyQuantityOfNaturalGasContracted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MonthlyQuantityOfNaturalGasContracted_1" xml:lang="en-US" id="label_MonthlyQuantityOfNaturalGasContracted_1">Monthly quantity of natural gas contracted (in m&#xB3;)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyQuantityOfNaturalGasContracted" xlink:to="label_MonthlyQuantityOfNaturalGasContracted_1" xlink:title="Label : MonthlyQuantityOfNaturalGasContracted to label_MonthlyQuantityOfNaturalGasContracted_1" />
    <link:label xlink:type="resource" xlink:label="label_MonthlyQuantityOfNaturalGasContracted_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MonthlyQuantityOfNaturalGasContracted_2" xml:lang="en-US" id="label_MonthlyQuantityOfNaturalGasContracted_2">Monthly quantity of natural gas contracted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonthlyQuantityOfNaturalGasContracted" xlink:to="label_MonthlyQuantityOfNaturalGasContracted_2" xlink:title="Label : MonthlyQuantityOfNaturalGasContracted to label_MonthlyQuantityOfNaturalGasContracted_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualQuantityOfNaturalGasContracted" xlink:label="AnnualQuantityOfNaturalGasContracted" xlink:title="AnnualQuantityOfNaturalGasContracted" />
    <link:label xlink:type="resource" xlink:label="label_AnnualQuantityOfNaturalGasContracted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualQuantityOfNaturalGasContracted" xml:lang="en-US" id="label_AnnualQuantityOfNaturalGasContracted">Annual Quantity Of Natural Gas Contracted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualQuantityOfNaturalGasContracted" xlink:to="label_AnnualQuantityOfNaturalGasContracted" xlink:title="Label : AnnualQuantityOfNaturalGasContracted to label_AnnualQuantityOfNaturalGasContracted" />
    <link:label xlink:type="resource" xlink:label="label_AnnualQuantityOfNaturalGasContracted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualQuantityOfNaturalGasContracted_1" xml:lang="en-US" id="label_AnnualQuantityOfNaturalGasContracted_1">Annual quantity of natural gas contracted (in m&#xB3;)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualQuantityOfNaturalGasContracted" xlink:to="label_AnnualQuantityOfNaturalGasContracted_1" xlink:title="Label : AnnualQuantityOfNaturalGasContracted to label_AnnualQuantityOfNaturalGasContracted_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualQuantityOfNaturalGasContracted_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualQuantityOfNaturalGasContracted_2" xml:lang="en-US" id="label_AnnualQuantityOfNaturalGasContracted_2">Annual quantity of natural gas contracted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualQuantityOfNaturalGasContracted" xlink:to="label_AnnualQuantityOfNaturalGasContracted_2" xlink:title="Label : AnnualQuantityOfNaturalGasContracted to label_AnnualQuantityOfNaturalGasContracted_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfPriceInstallments" xlink:label="NumberOfPriceInstallments" xlink:title="NumberOfPriceInstallments" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPriceInstallments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPriceInstallments" xml:lang="en-US" id="label_NumberOfPriceInstallments">Number Of Price Installments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPriceInstallments" xlink:to="label_NumberOfPriceInstallments" xlink:title="Label : NumberOfPriceInstallments to label_NumberOfPriceInstallments" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPriceInstallments_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPriceInstallments_1" xml:lang="en-US" id="label_NumberOfPriceInstallments_1">Number of price installments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPriceInstallments" xlink:to="label_NumberOfPriceInstallments_1" xlink:title="Label : NumberOfPriceInstallments to label_NumberOfPriceInstallments_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPriceInstallments_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPriceInstallments_2" xml:lang="en-US" id="label_NumberOfPriceInstallments_2">Number of price installments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPriceInstallments" xlink:to="label_NumberOfPriceInstallments_2" xlink:title="Label : NumberOfPriceInstallments to label_NumberOfPriceInstallments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DailyQuantityOfNaturalGasContracted" xlink:label="DailyQuantityOfNaturalGasContracted" xlink:title="DailyQuantityOfNaturalGasContracted" />
    <link:label xlink:type="resource" xlink:label="label_DailyQuantityOfNaturalGasContracted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DailyQuantityOfNaturalGasContracted" xml:lang="en-US" id="label_DailyQuantityOfNaturalGasContracted">Daily Quantity Of Natural Gas Contracted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DailyQuantityOfNaturalGasContracted" xlink:to="label_DailyQuantityOfNaturalGasContracted" xlink:title="Label : DailyQuantityOfNaturalGasContracted to label_DailyQuantityOfNaturalGasContracted" />
    <link:label xlink:type="resource" xlink:label="label_DailyQuantityOfNaturalGasContracted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DailyQuantityOfNaturalGasContracted_1" xml:lang="en-US" id="label_DailyQuantityOfNaturalGasContracted_1">Daily quantity of natural gas contracted (in m&#xB3;/day)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DailyQuantityOfNaturalGasContracted" xlink:to="label_DailyQuantityOfNaturalGasContracted_1" xlink:title="Label : DailyQuantityOfNaturalGasContracted to label_DailyQuantityOfNaturalGasContracted_1" />
    <link:label xlink:type="resource" xlink:label="label_DailyQuantityOfNaturalGasContracted_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DailyQuantityOfNaturalGasContracted_2" xml:lang="en-US" id="label_DailyQuantityOfNaturalGasContracted_2">Daily quantity of natural gas contracted.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DailyQuantityOfNaturalGasContracted" xlink:to="label_DailyQuantityOfNaturalGasContracted_2" xlink:title="Label : DailyQuantityOfNaturalGasContracted to label_DailyQuantityOfNaturalGasContracted_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContractDurationAxis" xlink:label="ContractDurationAxis" xlink:title="ContractDurationAxis" />
    <link:label xlink:type="resource" xlink:label="label_ContractDurationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractDurationAxis" xml:lang="en-US" id="label_ContractDurationAxis">Contract duration [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractDurationAxis" xlink:to="label_ContractDurationAxis" xlink:title="Label : ContractDurationAxis to label_ContractDurationAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContractDurationMember" xlink:label="ContractDurationMember" xlink:title="ContractDurationMember" />
    <link:label xlink:type="resource" xlink:label="label_ContractDurationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractDurationMember" xml:lang="en-US" id="label_ContractDurationMember">Contract duration [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractDurationMember" xlink:to="label_ContractDurationMember" xlink:title="Label : ContractDurationMember to label_ContractDurationMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2020ToDecember2023Member" xlink:label="January2020ToDecember2023Member" xlink:title="January2020ToDecember2023Member" />
    <link:label xlink:type="resource" xlink:label="label_January2020ToDecember2023Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2020ToDecember2023Member" xml:lang="en-US" id="label_January2020ToDecember2023Member">Represents contract effective period from January 2020 to December 2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2020ToDecember2023Member" xlink:to="label_January2020ToDecember2023Member" xlink:title="Label : January2020ToDecember2023Member to label_January2020ToDecember2023Member" />
    <link:label xlink:type="resource" xlink:label="label_January2020ToDecember2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2020ToDecember2023Member_1" xml:lang="en-US" id="label_January2020ToDecember2023Member_1">January 2020 to December 2023 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2020ToDecember2023Member" xlink:to="label_January2020ToDecember2023Member_1" xlink:title="Label : January2020ToDecember2023Member to label_January2020ToDecember2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2020ToDecember2023Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2020ToDecember2023Member_2" xml:lang="en-US" id="label_January2020ToDecember2023Member_2">January 2020 To December 2023 Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2020ToDecember2023Member" xlink:to="label_January2020ToDecember2023Member_2" xlink:title="Label : January2020ToDecember2023Member to label_January2020ToDecember2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_June1999ToDecember2021Member" xlink:label="June1999ToDecember2021Member" xlink:title="June1999ToDecember2021Member" />
    <link:label xlink:type="resource" xlink:label="label_June1999ToDecember2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_June1999ToDecember2021Member" xml:lang="en-US" id="label_June1999ToDecember2021Member">June 1999 To December 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June1999ToDecember2021Member" xlink:to="label_June1999ToDecember2021Member" xlink:title="Label : June1999ToDecember2021Member to label_June1999ToDecember2021Member" />
    <link:label xlink:type="resource" xlink:label="label_June1999ToDecember2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_June1999ToDecember2021Member_1" xml:lang="en-US" id="label_June1999ToDecember2021Member_1">June 1999 to December 2021 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June1999ToDecember2021Member" xlink:to="label_June1999ToDecember2021Member_1" xlink:title="Label : June1999ToDecember2021Member to label_June1999ToDecember2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_June1999ToDecember2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_June1999ToDecember2021Member_2" xml:lang="en-US" id="label_June1999ToDecember2021Member_2">Represents contract effective period from June 1999 to December 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="June1999ToDecember2021Member" xlink:to="label_June1999ToDecember2021Member_2" xlink:title="Label : June1999ToDecember2021Member to label_June1999ToDecember2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_UntilMarch2023Member" xlink:label="UntilMarch2023Member" xlink:title="UntilMarch2023Member" />
    <link:label xlink:type="resource" xlink:label="label_UntilMarch2023Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_UntilMarch2023Member" xml:lang="en-US" id="label_UntilMarch2023Member">Represents contract effective period until March 2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UntilMarch2023Member" xlink:to="label_UntilMarch2023Member" xlink:title="Label : UntilMarch2023Member to label_UntilMarch2023Member" />
    <link:label xlink:type="resource" xlink:label="label_UntilMarch2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UntilMarch2023Member_1" xml:lang="en-US" id="label_UntilMarch2023Member_1">Untill 2023 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UntilMarch2023Member" xlink:to="label_UntilMarch2023Member_1" xlink:title="Label : UntilMarch2023Member to label_UntilMarch2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_UntilMarch2023Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UntilMarch2023Member_2" xml:lang="en-US" id="label_UntilMarch2023Member_2">Until March 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UntilMarch2023Member" xlink:to="label_UntilMarch2023Member_2" xlink:title="Label : UntilMarch2023Member to label_UntilMarch2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_April2008ToMarch2022Member" xlink:label="April2008ToMarch2022Member" xlink:title="April2008ToMarch2022Member" />
    <link:label xlink:type="resource" xlink:label="label_April2008ToMarch2022Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_April2008ToMarch2022Member" xml:lang="en-US" id="label_April2008ToMarch2022Member">Represents contract effective period from April 2008 to March 2022.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2008ToMarch2022Member" xlink:to="label_April2008ToMarch2022Member" xlink:title="Label : April2008ToMarch2022Member to label_April2008ToMarch2022Member" />
    <link:label xlink:type="resource" xlink:label="label_April2008ToMarch2022Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_April2008ToMarch2022Member_1" xml:lang="en-US" id="label_April2008ToMarch2022Member_1">April 2008 to March 2022 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2008ToMarch2022Member" xlink:to="label_April2008ToMarch2022Member_1" xlink:title="Label : April2008ToMarch2022Member to label_April2008ToMarch2022Member_1" />
    <link:label xlink:type="resource" xlink:label="label_April2008ToMarch2022Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_April2008ToMarch2022Member_2" xml:lang="en-US" id="label_April2008ToMarch2022Member_2">April 2008 To March 2022 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="April2008ToMarch2022Member" xlink:to="label_April2008ToMarch2022Member_2" xlink:title="Label : April2008ToMarch2022Member to label_April2008ToMarch2022Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_January2022ToDecember2023Member" xlink:label="January2022ToDecember2023Member" xlink:title="January2022ToDecember2023Member" />
    <link:label xlink:type="resource" xlink:label="label_January2022ToDecember2023Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_January2022ToDecember2023Member" xml:lang="en-US" id="label_January2022ToDecember2023Member">Represents contract effective period from January 2022 to December 2023.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2022ToDecember2023Member" xlink:to="label_January2022ToDecember2023Member" xlink:title="Label : January2022ToDecember2023Member to label_January2022ToDecember2023Member" />
    <link:label xlink:type="resource" xlink:label="label_January2022ToDecember2023Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_January2022ToDecember2023Member_1" xml:lang="en-US" id="label_January2022ToDecember2023Member_1">January 2022 to December 2023 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2022ToDecember2023Member" xlink:to="label_January2022ToDecember2023Member_1" xlink:title="Label : January2022ToDecember2023Member to label_January2022ToDecember2023Member_1" />
    <link:label xlink:type="resource" xlink:label="label_January2022ToDecember2023Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_January2022ToDecember2023Member_2" xml:lang="en-US" id="label_January2022ToDecember2023Member_2">January 2022 To December 2023 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="January2022ToDecember2023Member" xlink:to="label_January2022ToDecember2023Member_2" xlink:title="Label : January2022ToDecember2023Member to label_January2022ToDecember2023Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:label="PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:title="PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" />
    <link:label xlink:type="resource" xlink:label="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xml:lang="en-US" id="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers">Period Before End Of Consession Period Within Which Memorandum Account Balances To Be Indemnify To Subsidiary Or Returned To Users</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:to="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:title="Label : PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers to label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" />
    <link:label xlink:type="resource" xlink:label="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_1" xml:lang="en-US" id="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_1">Period before end of consession period within which memorandum account balances to be indemnifed to subsidiary or returned to users (in months)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:to="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_1" xlink:title="Label : PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers to label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_1" />
    <link:label xlink:type="resource" xlink:label="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_2" xml:lang="en-US" id="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_2">Period before end of consession period within which memorandum account balances to be indemnifed to subsidiary or returned to users.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" xlink:to="label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_2" xlink:title="Label : PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers to label_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember" xlink:label="ProvisionForTaxesOtherThanIncomeTaxMember" xlink:title="ProvisionForTaxesOtherThanIncomeTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForTaxesOtherThanIncomeTaxMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProvisionForTaxesOtherThanIncomeTaxMember" xml:lang="en-US" id="label_ProvisionForTaxesOtherThanIncomeTaxMember">Provision for uncertain tax liabilities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForTaxesOtherThanIncomeTaxMember" xlink:to="label_ProvisionForTaxesOtherThanIncomeTaxMember" xlink:title="Label : ProvisionForTaxesOtherThanIncomeTaxMember to label_ProvisionForTaxesOtherThanIncomeTaxMember" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForTaxesOtherThanIncomeTaxMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionForTaxesOtherThanIncomeTaxMember_1" xml:lang="en-US" id="label_ProvisionForTaxesOtherThanIncomeTaxMember_1">Provision for taxes other than income tax [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForTaxesOtherThanIncomeTaxMember" xlink:to="label_ProvisionForTaxesOtherThanIncomeTaxMember_1" xlink:title="Label : ProvisionForTaxesOtherThanIncomeTaxMember to label_ProvisionForTaxesOtherThanIncomeTaxMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:label="ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:title="ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount">Principal amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount to label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_1" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_1">The principal amount of receivables from taxes other than income tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_1" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount to label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_2" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_2">Receivables from Taxes Other Than Income Tax Principal Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_2" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount to label_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:label="ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:title="ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement">Monetary restatement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement to label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_1" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_1">The amount of monetary restatement of receivables from taxes other than income tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_1" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement to label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_1" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_2" xml:lang="en-US" id="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_2">Receivables from Taxes Other Than Income Tax Monetary Restatement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" xlink:to="label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_2" xlink:title="Label : ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement to label_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherProvisionsPrincipalAmount" xlink:label="OtherProvisionsPrincipalAmount" xlink:title="OtherProvisionsPrincipalAmount" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherProvisionsPrincipalAmount" xml:lang="en-US" id="label_OtherProvisionsPrincipalAmount">Provisioned amount, principal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsPrincipalAmount" xlink:to="label_OtherProvisionsPrincipalAmount" xlink:title="Label : OtherProvisionsPrincipalAmount to label_OtherProvisionsPrincipalAmount" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherProvisionsMonetaryRestatment" xlink:label="OtherProvisionsMonetaryRestatment" xlink:title="OtherProvisionsMonetaryRestatment" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsMonetaryRestatment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherProvisionsMonetaryRestatment" xml:lang="en-US" id="label_OtherProvisionsMonetaryRestatment">Provisioned amount, monetary restatement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsMonetaryRestatment" xlink:to="label_OtherProvisionsMonetaryRestatment" xlink:title="Label : OtherProvisionsMonetaryRestatment to label_OtherProvisionsMonetaryRestatment" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsMonetaryRestatment_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherProvisionsMonetaryRestatment_1" xml:lang="en-US" id="label_OtherProvisionsMonetaryRestatment_1">Provisioned amount, monetary restatement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsMonetaryRestatment" xlink:to="label_OtherProvisionsMonetaryRestatment_1" xlink:title="Label : OtherProvisionsMonetaryRestatment to label_OtherProvisionsMonetaryRestatment_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsMonetaryRestatment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherProvisionsMonetaryRestatment_2" xml:lang="en-US" id="label_OtherProvisionsMonetaryRestatment_2">Other Provisions Monetary Restatment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsMonetaryRestatment" xlink:to="label_OtherProvisionsMonetaryRestatment_2" xlink:title="Label : OtherProvisionsMonetaryRestatment to label_OtherProvisionsMonetaryRestatment_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherProvisions" xlink:label="OtherProvisions" xlink:title="OtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherProvisions" xml:lang="en-US" id="label_OtherProvisions">Other provisions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisions" xlink:to="label_OtherProvisions" xlink:title="Label : OtherProvisions to label_OtherProvisions" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsPrincipalAmount_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherProvisionsPrincipalAmount_1" xml:lang="en-US" id="label_OtherProvisionsPrincipalAmount_1">Provisioned amount, principal.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsPrincipalAmount" xlink:to="label_OtherProvisionsPrincipalAmount_1" xlink:title="Label : OtherProvisionsPrincipalAmount to label_OtherProvisionsPrincipalAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisionsPrincipalAmount_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherProvisionsPrincipalAmount_2" xml:lang="en-US" id="label_OtherProvisionsPrincipalAmount_2">Other Provisions Principal Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisionsPrincipalAmount" xlink:to="label_OtherProvisionsPrincipalAmount_2" xlink:title="Label : OtherProvisionsPrincipalAmount to label_OtherProvisionsPrincipalAmount_2" />
    <link:label xlink:type="resource" xlink:label="label_OtherProvisions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherProvisions_1" xml:lang="en-US" id="label_OtherProvisions_1">Provisioned amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherProvisions" xlink:to="label_OtherProvisions_1" xlink:title="Label : OtherProvisions to label_OtherProvisions_1" />
    <link:label xlink:type="resource" xlink:label="label_RhallTerminaisLtdaMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RhallTerminaisLtdaMember_2" xml:lang="en-US" id="label_RhallTerminaisLtdaMember_2">Rhall Terminais Ltda [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RhallTerminaisLtdaMember" xlink:to="label_RhallTerminaisLtdaMember_2" xlink:title="Label : RhallTerminaisLtdaMember to label_RhallTerminaisLtdaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TermagTerminalMaritimoDeGuarujaSAMember" xlink:label="TermagTerminalMaritimoDeGuarujaSAMember" xlink:title="TermagTerminalMaritimoDeGuarujaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TermagTerminalMaritimoDeGuarujaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TermagTerminalMaritimoDeGuarujaSAMember" xml:lang="en-US" id="label_TermagTerminalMaritimoDeGuarujaSAMember">Termag - Terminal Mar&#xED;timo de Guaruj&#xE1; S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermagTerminalMaritimoDeGuarujaSAMember" xlink:to="label_TermagTerminalMaritimoDeGuarujaSAMember" xlink:title="Label : TermagTerminalMaritimoDeGuarujaSAMember to label_TermagTerminalMaritimoDeGuarujaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TermagTerminalMaritimoDeGuarujaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TermagTerminalMaritimoDeGuarujaSAMember_1" xml:lang="en-US" id="label_TermagTerminalMaritimoDeGuarujaSAMember_1">Represents Termag - Terminal Mar&#xED;timo de Guaruj&#xE1; S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermagTerminalMaritimoDeGuarujaSAMember" xlink:to="label_TermagTerminalMaritimoDeGuarujaSAMember_1" xlink:title="Label : TermagTerminalMaritimoDeGuarujaSAMember to label_TermagTerminalMaritimoDeGuarujaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TermagTerminalMaritimoDeGuarujaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TermagTerminalMaritimoDeGuarujaSAMember_2" xml:lang="en-US" id="label_TermagTerminalMaritimoDeGuarujaSAMember_2">Termag Terminal Maritimo De Guaruja SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TermagTerminalMaritimoDeGuarujaSAMember" xlink:to="label_TermagTerminalMaritimoDeGuarujaSAMember_2" xlink:title="Label : TermagTerminalMaritimoDeGuarujaSAMember to label_TermagTerminalMaritimoDeGuarujaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TGGTerminalDeGraneisDoGuarujaSAMember" xlink:label="TGGTerminalDeGraneisDoGuarujaSAMember" xlink:title="TGGTerminalDeGraneisDoGuarujaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TGGTerminalDeGraneisDoGuarujaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TGGTerminalDeGraneisDoGuarujaSAMember" xml:lang="en-US" id="label_TGGTerminalDeGraneisDoGuarujaSAMember">TGG - Terminal de Gran&#xE9;is do Guaruj&#xE1; S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TGGTerminalDeGraneisDoGuarujaSAMember" xlink:to="label_TGGTerminalDeGraneisDoGuarujaSAMember" xlink:title="Label : TGGTerminalDeGraneisDoGuarujaSAMember to label_TGGTerminalDeGraneisDoGuarujaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TGGTerminalDeGraneisDoGuarujaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TGGTerminalDeGraneisDoGuarujaSAMember_1" xml:lang="en-US" id="label_TGGTerminalDeGraneisDoGuarujaSAMember_1">Represents TGG - Terminal de Gran&#xE9;is do Guaruj&#xE1; S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TGGTerminalDeGraneisDoGuarujaSAMember" xlink:to="label_TGGTerminalDeGraneisDoGuarujaSAMember_1" xlink:title="Label : TGGTerminalDeGraneisDoGuarujaSAMember to label_TGGTerminalDeGraneisDoGuarujaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TGGTerminalDeGraneisDoGuarujaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TGGTerminalDeGraneisDoGuarujaSAMember_2" xml:lang="en-US" id="label_TGGTerminalDeGraneisDoGuarujaSAMember_2">TGG Terminal De Graneis Do Guaruja SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TGGTerminalDeGraneisDoGuarujaSAMember" xlink:to="label_TGGTerminalDeGraneisDoGuarujaSAMember_2" xlink:title="Label : TGGTerminalDeGraneisDoGuarujaSAMember to label_TGGTerminalDeGraneisDoGuarujaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TerminalXXXIXSAMember" xlink:label="TerminalXXXIXSAMember" xlink:title="TerminalXXXIXSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TerminalXXXIXSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TerminalXXXIXSAMember" xml:lang="en-US" id="label_TerminalXXXIXSAMember">Terminal XXXIX SA [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerminalXXXIXSAMember" xlink:to="label_TerminalXXXIXSAMember" xlink:title="Label : TerminalXXXIXSAMember to label_TerminalXXXIXSAMember" />
    <link:label xlink:type="resource" xlink:label="label_TerminalXXXIXSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TerminalXXXIXSAMember_1" xml:lang="en-US" id="label_TerminalXXXIXSAMember_1">Terminal XXXIX S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerminalXXXIXSAMember" xlink:to="label_TerminalXXXIXSAMember_1" xlink:title="Label : TerminalXXXIXSAMember to label_TerminalXXXIXSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TerminalXXXIXSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TerminalXXXIXSAMember_2" xml:lang="en-US" id="label_TerminalXXXIXSAMember_2">Represents Terminal XXXIX S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerminalXXXIXSAMember" xlink:to="label_TerminalXXXIXSAMember_2" xlink:title="Label : TerminalXXXIXSAMember to label_TerminalXXXIXSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:label="IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:title="IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xml:lang="en-US" id="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments">Represents increase (decrease) in non-controlling interest due to predecessor adjustments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:to="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:title="Label : IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments to label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_1" xml:lang="en-US" id="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_1">Predecessor adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:to="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_1" xlink:title="Label : IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments to label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_2" xml:lang="en-US" id="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_2">Increase (decrease) in Non-controlling Interest Predecessor Adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" xlink:to="label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_2" xlink:title="Label : IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments to label_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RadarMember" xlink:label="RadarMember" xlink:title="RadarMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RadarMember" xml:lang="en-US" id="label_RadarMember">Represents Radar.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarMember" xlink:to="label_RadarMember" xlink:title="Label : RadarMember to label_RadarMember" />
    <link:label xlink:type="resource" xlink:label="label_RadarMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RadarMember_1" xml:lang="en-US" id="label_RadarMember_1">Radar [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarMember" xlink:to="label_RadarMember_1" xlink:title="Label : RadarMember to label_RadarMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RadarMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RadarMember_2" xml:lang="en-US" id="label_RadarMember_2">Radar [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarMember" xlink:to="label_RadarMember_2" xlink:title="Label : RadarMember to label_RadarMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ICMSBenefitExtemporaneousTaxCredits" xlink:label="ICMSBenefitExtemporaneousTaxCredits" xlink:title="ICMSBenefitExtemporaneousTaxCredits" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCredits" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ICMSBenefitExtemporaneousTaxCredits" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCredits">ICMS benefit - extemporaneous tax credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCredits" xlink:to="label_ICMSBenefitExtemporaneousTaxCredits" xlink:title="Label : ICMSBenefitExtemporaneousTaxCredits to label_ICMSBenefitExtemporaneousTaxCredits" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCredits_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ICMSBenefitExtemporaneousTaxCredits_1" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCredits_1">ICMS Benefit Extemporaneous Tax Credits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCredits" xlink:to="label_ICMSBenefitExtemporaneousTaxCredits_1" xlink:title="Label : ICMSBenefitExtemporaneousTaxCredits to label_ICMSBenefitExtemporaneousTaxCredits_1" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCredits_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ICMSBenefitExtemporaneousTaxCredits_2" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCredits_2">Represents ICMS benefit -  extemporaneous tax credits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCredits" xlink:to="label_ICMSBenefitExtemporaneousTaxCredits_2" xlink:title="Label : ICMSBenefitExtemporaneousTaxCredits to label_ICMSBenefitExtemporaneousTaxCredits_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ICMSBenefitCurrentPeriod" xlink:label="ICMSBenefitCurrentPeriod" xlink:title="ICMSBenefitCurrentPeriod" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitCurrentPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ICMSBenefitCurrentPeriod" xml:lang="en-US" id="label_ICMSBenefitCurrentPeriod">Represents ICMS benefit - current period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitCurrentPeriod" xlink:to="label_ICMSBenefitCurrentPeriod" xlink:title="Label : ICMSBenefitCurrentPeriod to label_ICMSBenefitCurrentPeriod" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitCurrentPeriod_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ICMSBenefitCurrentPeriod_1" xml:lang="en-US" id="label_ICMSBenefitCurrentPeriod_1">ICMS Benefit Current Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitCurrentPeriod" xlink:to="label_ICMSBenefitCurrentPeriod_1" xlink:title="Label : ICMSBenefitCurrentPeriod to label_ICMSBenefitCurrentPeriod_1" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitCurrentPeriod_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ICMSBenefitCurrentPeriod_2" xml:lang="en-US" id="label_ICMSBenefitCurrentPeriod_2">ICMS benefit - current period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitCurrentPeriod" xlink:to="label_ICMSBenefitCurrentPeriod_2" xlink:title="Label : ICMSBenefitCurrentPeriod to label_ICMSBenefitCurrentPeriod_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:label="TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:title="TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xml:lang="en-US" id="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures">Tax Effect of Amortization of Effects on Formation of Joint Ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:to="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:title="Label : TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures to label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_1" xml:lang="en-US" id="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_1">Represents amortization of the effects on formation of joint ventures.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:to="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_1" xlink:title="Label : TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures to label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_2" xml:lang="en-US" id="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_2">Amortization of the effects on formation of joint ventures</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" xlink:to="label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_2" xlink:title="Label : TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures to label_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="TaxEffectFromChangeInTaxRate" xlink:title="TaxEffectFromChangeInTaxRate" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectFromChangeInTaxRate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TaxEffectFromChangeInTaxRate" xml:lang="en-US" id="label_TaxEffectFromChangeInTaxRate">Rate difference</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectFromChangeInTaxRate" xlink:to="label_TaxEffectFromChangeInTaxRate" xlink:title="Label : TaxEffectFromChangeInTaxRate to label_TaxEffectFromChangeInTaxRate" />
    <link:label xlink:type="resource" xlink:label="label_TaxEffectFromChangeInTaxRate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxEffectFromChangeInTaxRate_1" xml:lang="en-US" id="label_TaxEffectFromChangeInTaxRate_1">Tax effect from change in tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxEffectFromChangeInTaxRate" xlink:to="label_TaxEffectFromChangeInTaxRate_1" xlink:title="Label : TaxEffectFromChangeInTaxRate to label_TaxEffectFromChangeInTaxRate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:label="IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:title="IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" />
    <link:label xlink:type="resource" xlink:label="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xml:lang="en-US" id="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL">Isolated Fine Percentage Due to Insufficient Payment of Advances of IRPJ and CSLL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:to="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:title="Label : IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL to label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" />
    <link:label xlink:type="resource" xlink:label="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" xml:lang="en-US" id="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1">Represents percentage of isolated fine due to insufficient payment of advances of IRPJ and CSLL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:to="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" xlink:title="Label : IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL to label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CapitalGainMember" xlink:label="CapitalGainMember" xlink:title="CapitalGainMember" />
    <link:label xlink:type="resource" xlink:label="label_CapitalGainMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CapitalGainMember" xml:lang="en-US" id="label_CapitalGainMember">Capital gain</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalGainMember" xlink:to="label_CapitalGainMember" xlink:title="Label : CapitalGainMember to label_CapitalGainMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:label="AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:title="AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xml:lang="en-US" id="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL">Additional Isolated Fine Percentage Due to Insufficient Payment of Advances of IRPJ and CSLL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:to="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:title="Label : AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL to label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" xml:lang="en-US" id="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1">Represents additional percentage of isolated fine due to insufficient payment of advances of IRPJ and CSLL.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:to="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" xlink:title="Label : AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL to label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_1" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" xml:lang="en-US" id="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2">Additional isolated fine percentage due to insufficient payment of advances of IRPJ and CSLL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:to="label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" xlink:title="Label : AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL to label_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" />
    <link:label xlink:type="resource" xlink:label="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" xml:lang="en-US" id="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2">Isolated fine percentage due to insufficient payment of advances of IRPJ and CSLL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" xlink:to="label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" xlink:title="Label : IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL to label_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL_2" />
    <link:label xlink:type="resource" xlink:label="label_CapitalGainMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalGainMember_1" xml:lang="en-US" id="label_CapitalGainMember_1">Capital Gain [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalGainMember" xlink:to="label_CapitalGainMember_1" xlink:title="Label : CapitalGainMember to label_CapitalGainMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CapitalGainMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalGainMember_2" xml:lang="en-US" id="label_CapitalGainMember_2">Represents Capital Gain</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalGainMember" xlink:to="label_CapitalGainMember_2" xlink:title="Label : CapitalGainMember to label_CapitalGainMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IOFOnMutualMember" xlink:label="IOFOnMutualMember" xlink:title="IOFOnMutualMember" />
    <link:label xlink:type="resource" xlink:label="label_IOFOnMutualMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IOFOnMutualMember" xml:lang="en-US" id="label_IOFOnMutualMember">IOF on Mutual</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IOFOnMutualMember" xlink:to="label_IOFOnMutualMember" xlink:title="Label : IOFOnMutualMember to label_IOFOnMutualMember" />
    <link:label xlink:type="resource" xlink:label="label_IOFOnMutualMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IOFOnMutualMember_1" xml:lang="en-US" id="label_IOFOnMutualMember_1">IOF on Mutual [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IOFOnMutualMember" xlink:to="label_IOFOnMutualMember_1" xlink:title="Label : IOFOnMutualMember to label_IOFOnMutualMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IOFOnMutualMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IOFOnMutualMember_2" xml:lang="en-US" id="label_IOFOnMutualMember_2">Represents IOF on Mutual.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IOFOnMutualMember" xlink:to="label_IOFOnMutualMember_2" xlink:title="Label : IOFOnMutualMember to label_IOFOnMutualMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BoardOfDirectorsAndExecutiveOfficersMember" xlink:label="BoardOfDirectorsAndExecutiveOfficersMember" xlink:title="BoardOfDirectorsAndExecutiveOfficersMember" />
    <link:label xlink:type="resource" xlink:label="label_BoardOfDirectorsAndExecutiveOfficersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BoardOfDirectorsAndExecutiveOfficersMember" xml:lang="en-US" id="label_BoardOfDirectorsAndExecutiveOfficersMember">Represents board of directors and executive officers.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BoardOfDirectorsAndExecutiveOfficersMember" xlink:to="label_BoardOfDirectorsAndExecutiveOfficersMember" xlink:title="Label : BoardOfDirectorsAndExecutiveOfficersMember to label_BoardOfDirectorsAndExecutiveOfficersMember" />
    <link:label xlink:type="resource" xlink:label="label_BoardOfDirectorsAndExecutiveOfficersMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BoardOfDirectorsAndExecutiveOfficersMember_1" xml:lang="en-US" id="label_BoardOfDirectorsAndExecutiveOfficersMember_1">Board of directors and executive officers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BoardOfDirectorsAndExecutiveOfficersMember" xlink:to="label_BoardOfDirectorsAndExecutiveOfficersMember_1" xlink:title="Label : BoardOfDirectorsAndExecutiveOfficersMember to label_BoardOfDirectorsAndExecutiveOfficersMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BoardOfDirectorsAndExecutiveOfficersMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BoardOfDirectorsAndExecutiveOfficersMember_2" xml:lang="en-US" id="label_BoardOfDirectorsAndExecutiveOfficersMember_2">Board of Directors and Executive Officers [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BoardOfDirectorsAndExecutiveOfficersMember" xlink:to="label_BoardOfDirectorsAndExecutiveOfficersMember_2" xlink:title="Label : BoardOfDirectorsAndExecutiveOfficersMember to label_BoardOfDirectorsAndExecutiveOfficersMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BasisOfPresentationLineItems" xlink:label="BasisOfPresentationLineItems" xlink:title="BasisOfPresentationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_BasisOfPresentationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasisOfPresentationLineItems" xml:lang="en-US" id="label_BasisOfPresentationLineItems">Basis of Presentation [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfPresentationLineItems" xlink:to="label_BasisOfPresentationLineItems" xlink:title="Label : BasisOfPresentationLineItems to label_BasisOfPresentationLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:label="ProportionOfVotingPowerHeldInSubsidiary" xlink:title="ProportionOfVotingPowerHeldInSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_ProportionOfVotingPowerHeldInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProportionOfVotingPowerHeldInSubsidiary" xml:lang="en-US" id="label_ProportionOfVotingPowerHeldInSubsidiary">Proportion of voting rights held in subsidiary</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProportionOfVotingPowerHeldInSubsidiary" xlink:to="label_ProportionOfVotingPowerHeldInSubsidiary" xlink:title="Label : ProportionOfVotingPowerHeldInSubsidiary to label_ProportionOfVotingPowerHeldInSubsidiary" />
    <link:label xlink:type="resource" xlink:label="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" xml:lang="en-US" id="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2">Number of shares owned</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" xlink:title="Label : SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates to label_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BasisOfPresentationTable" xlink:label="BasisOfPresentationTable" xlink:title="BasisOfPresentationTable" />
    <link:label xlink:type="resource" xlink:label="label_BasisOfPresentationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BasisOfPresentationTable" xml:lang="en-US" id="label_BasisOfPresentationTable">Basis of Presentation [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasisOfPresentationTable" xlink:to="label_BasisOfPresentationTable" xlink:title="Label : BasisOfPresentationTable to label_BasisOfPresentationTable" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountOfSharesRepurchased" xlink:label="AmountOfSharesRepurchased" xlink:title="AmountOfSharesRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesRepurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfSharesRepurchased" xml:lang="en-US" id="label_AmountOfSharesRepurchased">Amount of shares repurchased</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesRepurchased" xlink:to="label_AmountOfSharesRepurchased" xlink:title="Label : AmountOfSharesRepurchased to label_AmountOfSharesRepurchased" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesRepurchased_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfSharesRepurchased_1" xml:lang="en-US" id="label_AmountOfSharesRepurchased_1">The amount of shares repurchased during period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesRepurchased" xlink:to="label_AmountOfSharesRepurchased_1" xlink:title="Label : AmountOfSharesRepurchased to label_AmountOfSharesRepurchased_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesRepurchased_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfSharesRepurchased_2" xml:lang="en-US" id="label_AmountOfSharesRepurchased_2">Shares repurchased amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesRepurchased" xlink:to="label_AmountOfSharesRepurchased_2" xlink:title="Label : AmountOfSharesRepurchased to label_AmountOfSharesRepurchased_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:label="AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:title="AmountOfSharesIssuedUnderShareBasedCriteriaPlan" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xml:lang="en-US" id="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan">Amount of shares issued to members of share-based criteria plans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:to="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:title="Label : AmountOfSharesIssuedUnderShareBasedCriteriaPlan to label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_1" xml:lang="en-US" id="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_1">Represents amount of shares issued to members of share-based criteria plans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:to="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_1" xlink:title="Label : AmountOfSharesIssuedUnderShareBasedCriteriaPlan to label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_2" xml:lang="en-US" id="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_2">Amount of Shares Issued Under Share-based Criteria Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesIssuedUnderShareBasedCriteriaPlan" xlink:to="label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_2" xlink:title="Label : AmountOfSharesIssuedUnderShareBasedCriteriaPlan to label_AmountOfSharesIssuedUnderShareBasedCriteriaPlan_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountOfCashReceivedFromExecutives" xlink:label="AmountOfCashReceivedFromExecutives" xlink:title="AmountOfCashReceivedFromExecutives" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfCashReceivedFromExecutives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfCashReceivedFromExecutives" xml:lang="en-US" id="label_AmountOfCashReceivedFromExecutives">Amount of cash received from executives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfCashReceivedFromExecutives" xlink:to="label_AmountOfCashReceivedFromExecutives" xlink:title="Label : AmountOfCashReceivedFromExecutives to label_AmountOfCashReceivedFromExecutives" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfCashReceivedFromExecutives_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfCashReceivedFromExecutives_1" xml:lang="en-US" id="label_AmountOfCashReceivedFromExecutives_1">Represents the amount of cash received from executives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfCashReceivedFromExecutives" xlink:to="label_AmountOfCashReceivedFromExecutives_1" xlink:title="Label : AmountOfCashReceivedFromExecutives to label_AmountOfCashReceivedFromExecutives_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfCashReceivedFromExecutives_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfCashReceivedFromExecutives_2" xml:lang="en-US" id="label_AmountOfCashReceivedFromExecutives_2">Amount of Cash Received from Executives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfCashReceivedFromExecutives" xlink:to="label_AmountOfCashReceivedFromExecutives_2" xlink:title="Label : AmountOfCashReceivedFromExecutives to label_AmountOfCashReceivedFromExecutives_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GainGeneratedOnCashReceivedFromExecutives" xlink:label="GainGeneratedOnCashReceivedFromExecutives" xlink:title="GainGeneratedOnCashReceivedFromExecutives" />
    <link:label xlink:type="resource" xlink:label="label_GainGeneratedOnCashReceivedFromExecutives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainGeneratedOnCashReceivedFromExecutives" xml:lang="en-US" id="label_GainGeneratedOnCashReceivedFromExecutives">Gain generated from cash received from executives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainGeneratedOnCashReceivedFromExecutives" xlink:to="label_GainGeneratedOnCashReceivedFromExecutives" xlink:title="Label : GainGeneratedOnCashReceivedFromExecutives to label_GainGeneratedOnCashReceivedFromExecutives" />
    <link:label xlink:type="resource" xlink:label="label_GainGeneratedOnCashReceivedFromExecutives_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GainGeneratedOnCashReceivedFromExecutives_1" xml:lang="en-US" id="label_GainGeneratedOnCashReceivedFromExecutives_1">Represents the amount of gain generated from cash received from executives.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainGeneratedOnCashReceivedFromExecutives" xlink:to="label_GainGeneratedOnCashReceivedFromExecutives_1" xlink:title="Label : GainGeneratedOnCashReceivedFromExecutives to label_GainGeneratedOnCashReceivedFromExecutives_1" />
    <link:label xlink:type="resource" xlink:label="label_GainGeneratedOnCashReceivedFromExecutives_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainGeneratedOnCashReceivedFromExecutives_2" xml:lang="en-US" id="label_GainGeneratedOnCashReceivedFromExecutives_2">Gain Generated on Cash Received from Executives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainGeneratedOnCashReceivedFromExecutives" xlink:to="label_GainGeneratedOnCashReceivedFromExecutives_2" xlink:title="Label : GainGeneratedOnCashReceivedFromExecutives to label_GainGeneratedOnCashReceivedFromExecutives_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DividendPayoutPercentage" xlink:label="DividendPayoutPercentage" xlink:title="DividendPayoutPercentage" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayoutPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DividendPayoutPercentage" xml:lang="en-US" id="label_DividendPayoutPercentage">Dividend as a percetage of net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayoutPercentage" xlink:to="label_DividendPayoutPercentage" xlink:title="Label : DividendPayoutPercentage to label_DividendPayoutPercentage" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayoutPercentage_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DividendPayoutPercentage_1" xml:lang="en-US" id="label_DividendPayoutPercentage_1">Represets the dividend payout ration of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayoutPercentage" xlink:to="label_DividendPayoutPercentage_1" xlink:title="Label : DividendPayoutPercentage to label_DividendPayoutPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_DividendPayoutPercentage_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DividendPayoutPercentage_2" xml:lang="en-US" id="label_DividendPayoutPercentage_2">Dividend Payout Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayoutPercentage" xlink:to="label_DividendPayoutPercentage_2" xlink:title="Label : DividendPayoutPercentage to label_DividendPayoutPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherTransportExpenses" xlink:label="OtherTransportExpenses" xlink:title="OtherTransportExpenses" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransportExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherTransportExpenses" xml:lang="en-US" id="label_OtherTransportExpenses">Represents other transport expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransportExpenses" xlink:to="label_OtherTransportExpenses" xlink:title="Label : OtherTransportExpenses to label_OtherTransportExpenses" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransportExpenses_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherTransportExpenses_1" xml:lang="en-US" id="label_OtherTransportExpenses_1">Other Transport Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransportExpenses" xlink:to="label_OtherTransportExpenses_1" xlink:title="Label : OtherTransportExpenses to label_OtherTransportExpenses_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherTransportExpenses_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherTransportExpenses_2" xml:lang="en-US" id="label_OtherTransportExpenses_2">Other transport</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherTransportExpenses" xlink:to="label_OtherTransportExpenses_2" xlink:title="Label : OtherTransportExpenses to label_OtherTransportExpenses_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExpensesWithThirdPartyServices" xlink:label="ExpensesWithThirdPartyServices" xlink:title="ExpensesWithThirdPartyServices" />
    <link:label xlink:type="resource" xlink:label="label_ExpensesWithThirdPartyServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpensesWithThirdPartyServices" xml:lang="en-US" id="label_ExpensesWithThirdPartyServices">Expenses with Third Party Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensesWithThirdPartyServices" xlink:to="label_ExpensesWithThirdPartyServices" xlink:title="Label : ExpensesWithThirdPartyServices to label_ExpensesWithThirdPartyServices" />
    <link:label xlink:type="resource" xlink:label="label_ExpensesWithThirdPartyServices_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExpensesWithThirdPartyServices_1" xml:lang="en-US" id="label_ExpensesWithThirdPartyServices_1">Represents expenses with third party services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensesWithThirdPartyServices" xlink:to="label_ExpensesWithThirdPartyServices_1" xlink:title="Label : ExpensesWithThirdPartyServices to label_ExpensesWithThirdPartyServices_1" />
    <link:label xlink:type="resource" xlink:label="label_ExpensesWithThirdPartyServices_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ExpensesWithThirdPartyServices_2" xml:lang="en-US" id="label_ExpensesWithThirdPartyServices_2">Expenses with third-party services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensesWithThirdPartyServices" xlink:to="label_ExpensesWithThirdPartyServices_2" xlink:title="Label : ExpensesWithThirdPartyServices to label_ExpensesWithThirdPartyServices_2" />
    <link:label xlink:type="resource" xlink:label="label_MonetaryVariationOfOtherFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MonetaryVariationOfOtherFinancialAssets_2" xml:lang="en-US" id="label_MonetaryVariationOfOtherFinancialAssets_2">Monetary Variation of Other Financial Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MonetaryVariationOfOtherFinancialAssets" xlink:to="label_MonetaryVariationOfOtherFinancialAssets_2" xlink:title="Label : MonetaryVariationOfOtherFinancialAssets to label_MonetaryVariationOfOtherFinancialAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ActuarialAssumptionOfAgingFactor" xlink:label="ActuarialAssumptionOfAgingFactor" xlink:title="ActuarialAssumptionOfAgingFactor" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfAgingFactor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfAgingFactor" xml:lang="en-US" id="label_ActuarialAssumptionOfAgingFactor">Aging factor</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfAgingFactor" xlink:to="label_ActuarialAssumptionOfAgingFactor" xlink:title="Label : ActuarialAssumptionOfAgingFactor to label_ActuarialAssumptionOfAgingFactor" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfAgingFactor_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ActuarialAssumptionOfAgingFactor_1" xml:lang="en-US" id="label_ActuarialAssumptionOfAgingFactor_1">The aging factor used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfAgingFactor" xlink:to="label_ActuarialAssumptionOfAgingFactor_1" xlink:title="Label : ActuarialAssumptionOfAgingFactor to label_ActuarialAssumptionOfAgingFactor_1" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfAgingFactor_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfAgingFactor_2" xml:lang="en-US" id="label_ActuarialAssumptionOfAgingFactor_2">Actuarial Assumption of Aging Factor</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfAgingFactor" xlink:to="label_ActuarialAssumptionOfAgingFactor_2" xlink:title="Label : ActuarialAssumptionOfAgingFactor to label_ActuarialAssumptionOfAgingFactor_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ActuarialAssumptionOfMortality" xlink:label="ActuarialAssumptionOfMortality" xlink:title="ActuarialAssumptionOfMortality" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfMortality" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfMortality" xml:lang="en-US" id="label_ActuarialAssumptionOfMortality">Overall mortality (segregated by gender)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfMortality" xlink:to="label_ActuarialAssumptionOfMortality" xlink:title="Label : ActuarialAssumptionOfMortality to label_ActuarialAssumptionOfMortality" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfMortality_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfMortality_1" xml:lang="en-US" id="label_ActuarialAssumptionOfMortality_1">Actuarial Assumption of Mortality</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfMortality" xlink:to="label_ActuarialAssumptionOfMortality_1" xlink:title="Label : ActuarialAssumptionOfMortality to label_ActuarialAssumptionOfMortality_1" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfMortality_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ActuarialAssumptionOfMortality_2" xml:lang="en-US" id="label_ActuarialAssumptionOfMortality_2">The mortality used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfMortality" xlink:to="label_ActuarialAssumptionOfMortality_2" xlink:title="Label : ActuarialAssumptionOfMortality to label_ActuarialAssumptionOfMortality_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ActuarialAssumptionOfDisableMortalityRates" xlink:label="ActuarialAssumptionOfDisableMortalityRates" xlink:title="ActuarialAssumptionOfDisableMortalityRates" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfDisableMortalityRates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfDisableMortalityRates" xml:lang="en-US" id="label_ActuarialAssumptionOfDisableMortalityRates">Disable mortality table</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfDisableMortalityRates" xlink:to="label_ActuarialAssumptionOfDisableMortalityRates" xlink:title="Label : ActuarialAssumptionOfDisableMortalityRates to label_ActuarialAssumptionOfDisableMortalityRates" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfDisableMortalityRates_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfDisableMortalityRates_1" xml:lang="en-US" id="label_ActuarialAssumptionOfDisableMortalityRates_1">Actuarial Assumption of Disable Mortality Rates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfDisableMortalityRates" xlink:to="label_ActuarialAssumptionOfDisableMortalityRates_1" xlink:title="Label : ActuarialAssumptionOfDisableMortalityRates to label_ActuarialAssumptionOfDisableMortalityRates_1" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfDisableMortalityRates_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ActuarialAssumptionOfDisableMortalityRates_2" xml:lang="en-US" id="label_ActuarialAssumptionOfDisableMortalityRates_2">The disabled mortality rate used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfDisableMortalityRates" xlink:to="label_ActuarialAssumptionOfDisableMortalityRates_2" xlink:title="Label : ActuarialAssumptionOfDisableMortalityRates to label_ActuarialAssumptionOfDisableMortalityRates_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ActuarialAssumptionOfEntryIntoDisability" xlink:label="ActuarialAssumptionOfEntryIntoDisability" xlink:title="ActuarialAssumptionOfEntryIntoDisability" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfEntryIntoDisability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfEntryIntoDisability" xml:lang="en-US" id="label_ActuarialAssumptionOfEntryIntoDisability">Entry into disability (modified)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfEntryIntoDisability" xlink:to="label_ActuarialAssumptionOfEntryIntoDisability" xlink:title="Label : ActuarialAssumptionOfEntryIntoDisability to label_ActuarialAssumptionOfEntryIntoDisability" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfEntryIntoDisability_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ActuarialAssumptionOfEntryIntoDisability_1" xml:lang="en-US" id="label_ActuarialAssumptionOfEntryIntoDisability_1">The entry into disability used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfEntryIntoDisability" xlink:to="label_ActuarialAssumptionOfEntryIntoDisability_1" xlink:title="Label : ActuarialAssumptionOfEntryIntoDisability to label_ActuarialAssumptionOfEntryIntoDisability_1" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfEntryIntoDisability_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfEntryIntoDisability_2" xml:lang="en-US" id="label_ActuarialAssumptionOfEntryIntoDisability_2">Actuarial Assumption of Entry into Disability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfEntryIntoDisability" xlink:to="label_ActuarialAssumptionOfEntryIntoDisability_2" xlink:title="Label : ActuarialAssumptionOfEntryIntoDisability to label_ActuarialAssumptionOfEntryIntoDisability_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ActuarialAssumptionOfTurnover" xlink:label="ActuarialAssumptionOfTurnover" xlink:title="ActuarialAssumptionOfTurnover" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfTurnover" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ActuarialAssumptionOfTurnover" xml:lang="en-US" id="label_ActuarialAssumptionOfTurnover">Turnover</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfTurnover" xlink:to="label_ActuarialAssumptionOfTurnover" xlink:title="Label : ActuarialAssumptionOfTurnover to label_ActuarialAssumptionOfTurnover" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfTurnover_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ActuarialAssumptionOfTurnover_1" xml:lang="en-US" id="label_ActuarialAssumptionOfTurnover_1">Actuarial Assumption of Turnover</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfTurnover" xlink:to="label_ActuarialAssumptionOfTurnover_1" xlink:title="Label : ActuarialAssumptionOfTurnover to label_ActuarialAssumptionOfTurnover_1" />
    <link:label xlink:type="resource" xlink:label="label_ActuarialAssumptionOfTurnover_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ActuarialAssumptionOfTurnover_2" xml:lang="en-US" id="label_ActuarialAssumptionOfTurnover_2">The turnover used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ActuarialAssumptionOfTurnover" xlink:to="label_ActuarialAssumptionOfTurnover_2" xlink:title="Label : ActuarialAssumptionOfTurnover to label_ActuarialAssumptionOfTurnover_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TRSPMember" xlink:label="TRSPMember" xlink:title="TRSPMember" />
    <link:label xlink:type="resource" xlink:label="label_TRSPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TRSPMember" xml:lang="en-US" id="label_TRSPMember">Represents TRSP.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TRSPMember" xlink:to="label_TRSPMember" xlink:title="Label : TRSPMember to label_TRSPMember" />
    <link:label xlink:type="resource" xlink:label="label_TRSPMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TRSPMember_1" xml:lang="en-US" id="label_TRSPMember_1">TRSP [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TRSPMember" xlink:to="label_TRSPMember_1" xlink:title="Label : TRSPMember to label_TRSPMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TRSPMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TRSPMember_2" xml:lang="en-US" id="label_TRSPMember_2">TRSP [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TRSPMember" xlink:to="label_TRSPMember_2" xlink:title="Label : TRSPMember to label_TRSPMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompasComercializacaoMember" xlink:label="CompasComercializacaoMember" xlink:title="CompasComercializacaoMember" />
    <link:label xlink:type="resource" xlink:label="label_CompasComercializacaoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompasComercializacaoMember" xml:lang="en-US" id="label_CompasComercializacaoMember">Represents Compass Comercializa&#xE7;&#xE3;o.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompasComercializacaoMember" xlink:to="label_CompasComercializacaoMember" xlink:title="Label : CompasComercializacaoMember to label_CompasComercializacaoMember" />
    <link:label xlink:type="resource" xlink:label="label_CompasComercializacaoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompasComercializacaoMember_1" xml:lang="en-US" id="label_CompasComercializacaoMember_1">Compas Comercializacao [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompasComercializacaoMember" xlink:to="label_CompasComercializacaoMember_1" xlink:title="Label : CompasComercializacaoMember to label_CompasComercializacaoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompasComercializacaoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompasComercializacaoMember_2" xml:lang="en-US" id="label_CompasComercializacaoMember_2">Compass Comercializa&#xE7;&#xE3;o</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompasComercializacaoMember" xlink:to="label_CompasComercializacaoMember_2" xlink:title="Label : CompasComercializacaoMember to label_CompasComercializacaoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:label="MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:title="MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" />
    <link:label xlink:type="resource" xlink:label="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xml:lang="en-US" id="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember">Moove Compass Gas E Energia Compass Comercializacao TRSP and Comgas [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:to="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:title="Label : MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember to label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" />
    <link:label xlink:type="resource" xlink:label="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_1" xml:lang="en-US" id="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_1">Moove, Compass G&#xE1;s e Energia, Compass Comercializa&#xE7;&#xE3;o, TRSP and Comg&#xE1;s</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:to="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_1" xlink:title="Label : MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember to label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_1" />
    <link:label xlink:type="resource" xlink:label="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_2" xml:lang="en-US" id="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_2">Represents Moove, Compass G&#xE1;s e Energia, Compass Comercializa&#xE7;&#xE3;o, TRSP and Comg&#xE1;s.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" xlink:to="label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_2" xlink:title="Label : MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember to label_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" xlink:label="IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" xlink:title="IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" xml:lang="en-US" id="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination">Business Combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" xlink:to="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" xlink:title="Label : IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination to label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination_1" xml:lang="en-US" id="label_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination_1">Represents the increase (decrease) in investment in associates due to business combination.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitMooveMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashGeneratingUnitMooveMember_2" xml:lang="en-US" id="label_CashGeneratingUnitMooveMember_2">Represents Cash generating unit &#x2013; Moove.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitMooveMember" xlink:to="label_CashGeneratingUnitMooveMember_2" xlink:title="Label : CashGeneratingUnitMooveMember to label_CashGeneratingUnitMooveMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashGeneratingUnitCompassMember" xlink:label="CashGeneratingUnitCompassMember" xlink:title="CashGeneratingUnitCompassMember" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitCompassMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashGeneratingUnitCompassMember" xml:lang="en-US" id="label_CashGeneratingUnitCompassMember">Cash generating unit &#x2013; Compass</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitCompassMember" xlink:to="label_CashGeneratingUnitCompassMember" xlink:title="Label : CashGeneratingUnitCompassMember to label_CashGeneratingUnitCompassMember" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitCompassMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashGeneratingUnitCompassMember_1" xml:lang="en-US" id="label_CashGeneratingUnitCompassMember_1">Cash Generating Unit Compass [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitCompassMember" xlink:to="label_CashGeneratingUnitCompassMember_1" xlink:title="Label : CashGeneratingUnitCompassMember to label_CashGeneratingUnitCompassMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitCompassMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashGeneratingUnitCompassMember_2" xml:lang="en-US" id="label_CashGeneratingUnitCompassMember_2">Represents Cash generating unit &#x2013; Compass.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitCompassMember" xlink:to="label_CashGeneratingUnitCompassMember_2" xlink:title="Label : CashGeneratingUnitCompassMember to label_CashGeneratingUnitCompassMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashGeneratingUnitLogisticaMember" xlink:label="CashGeneratingUnitLogisticaMember" xlink:title="CashGeneratingUnitLogisticaMember" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitLogisticaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashGeneratingUnitLogisticaMember" xml:lang="en-US" id="label_CashGeneratingUnitLogisticaMember">Cash generating unit &#x2013; Log&#xED;stica</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitLogisticaMember" xlink:to="label_CashGeneratingUnitLogisticaMember" xlink:title="Label : CashGeneratingUnitLogisticaMember to label_CashGeneratingUnitLogisticaMember" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitLogisticaMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashGeneratingUnitLogisticaMember_1" xml:lang="en-US" id="label_CashGeneratingUnitLogisticaMember_1">Cash Generating Unit Logistica [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitLogisticaMember" xlink:to="label_CashGeneratingUnitLogisticaMember_1" xlink:title="Label : CashGeneratingUnitLogisticaMember to label_CashGeneratingUnitLogisticaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitLogisticaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashGeneratingUnitLogisticaMember_2" xml:lang="en-US" id="label_CashGeneratingUnitLogisticaMember_2">Represents Cash generating unit &#x2013; Log&#xED;stica.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitLogisticaMember" xlink:to="label_CashGeneratingUnitLogisticaMember_2" xlink:title="Label : CashGeneratingUnitLogisticaMember to label_CashGeneratingUnitLogisticaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CashGeneratingUnitCosanOtherBusinessMember" xlink:label="CashGeneratingUnitCosanOtherBusinessMember" xlink:title="CashGeneratingUnitCosanOtherBusinessMember" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitCosanOtherBusinessMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashGeneratingUnitCosanOtherBusinessMember" xml:lang="en-US" id="label_CashGeneratingUnitCosanOtherBusinessMember">Cash generating unit &#x2013; Cosan &#x2013; Other Business</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitCosanOtherBusinessMember" xlink:to="label_CashGeneratingUnitCosanOtherBusinessMember" xlink:title="Label : CashGeneratingUnitCosanOtherBusinessMember to label_CashGeneratingUnitCosanOtherBusinessMember" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitCosanOtherBusinessMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashGeneratingUnitCosanOtherBusinessMember_1" xml:lang="en-US" id="label_CashGeneratingUnitCosanOtherBusinessMember_1">Cash Generating Unit Cosan Other Business [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitCosanOtherBusinessMember" xlink:to="label_CashGeneratingUnitCosanOtherBusinessMember_1" xlink:title="Label : CashGeneratingUnitCosanOtherBusinessMember to label_CashGeneratingUnitCosanOtherBusinessMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CashGeneratingUnitCosanOtherBusinessMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CashGeneratingUnitCosanOtherBusinessMember_2" xml:lang="en-US" id="label_CashGeneratingUnitCosanOtherBusinessMember_2">Represents Cash generating unit &#x2013; Cosan &#x2013; Other Business.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashGeneratingUnitCosanOtherBusinessMember" xlink:to="label_CashGeneratingUnitCosanOtherBusinessMember_2" xlink:title="Label : CashGeneratingUnitCosanOtherBusinessMember to label_CashGeneratingUnitCosanOtherBusinessMember_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2021/country-2021.xsd#country_US" xlink:label="US" xlink:title="US" />
    <link:label xlink:type="resource" xlink:label="label_US" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_US" xml:lang="en-US" id="label_US">US</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="US" xlink:to="label_US" xlink:title="Label : US to label_US" />
    <link:label xlink:type="resource" xlink:label="label_BR_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BR_2" xml:lang="en-US" id="label_BR_2">BR</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BR" xlink:to="label_BR_2" xlink:title="Label : BR to label_BR_2" />
    <link:label xlink:type="resource" xlink:label="label_US_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_US_1" xml:lang="en-US" id="label_US_1">UNITED STATES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="US" xlink:to="label_US_1" xlink:title="Label : US to label_US_1" />
    <link:label xlink:type="resource" xlink:label="label_GB_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GB_2" xml:lang="en-US" id="label_GB_2">UK</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GB" xlink:to="label_GB_2" xlink:title="Label : GB to label_GB_2" />
    <link:label xlink:type="resource" xlink:label="label_AR_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_AR_2" xml:lang="en-US" id="label_AR_2">ARG</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AR" xlink:to="label_AR_2" xlink:title="Label : AR to label_AR_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" xlink:label="DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" xlink:title="DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" xml:lang="en-US" id="label_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems">Disclosure of information for cash-generating units [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" xlink:to="label_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" xlink:title="Label : DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems to label_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:label="DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:title="DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xml:lang="en-US" id="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections">Growth rate used to extrapolate cash flow projections</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:to="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:title="Label : DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections to label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualImpairmentTestAssumptionsAbstract" xlink:label="AnnualImpairmentTestAssumptionsAbstract" xlink:title="AnnualImpairmentTestAssumptionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualImpairmentTestAssumptionsAbstract" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsAbstract">Annual Impairment Test Assumptions [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsAbstract" xlink:to="label_AnnualImpairmentTestAssumptionsAbstract" xlink:title="Label : AnnualImpairmentTestAssumptionsAbstract to label_AnnualImpairmentTestAssumptionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualImpairmentTestAssumptionsAbstract_1" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsAbstract_1">Assumptions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsAbstract" xlink:to="label_AnnualImpairmentTestAssumptionsAbstract_1" xlink:title="Label : AnnualImpairmentTestAssumptionsAbstract to label_AnnualImpairmentTestAssumptionsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:label="AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:title="AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage">Annual Impairment Test Assumptions Risk Free Fee T Note 10 Years Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:title="Label : AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage to label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_1" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_1">Risk-free fee (T-Note 10y) (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_1" xlink:title="Label : AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage to label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_2" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_2">Represents annual impairment test assumption, risk-free fee T-Note 10 Years percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_2" xlink:title="Label : AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage to label_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualImpairmentTestAssumptionsInflationPercentage" xlink:label="AnnualImpairmentTestAssumptionsInflationPercentage" xlink:title="AnnualImpairmentTestAssumptionsInflationPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsInflationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualImpairmentTestAssumptionsInflationPercentage" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsInflationPercentage">Annual Impairment Test Assumptions Inflation Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsInflationPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsInflationPercentage" xlink:title="Label : AnnualImpairmentTestAssumptionsInflationPercentage to label_AnnualImpairmentTestAssumptionsInflationPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsInflationPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualImpairmentTestAssumptionsInflationPercentage_1" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsInflationPercentage_1">Inflation (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsInflationPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsInflationPercentage_1" xlink:title="Label : AnnualImpairmentTestAssumptionsInflationPercentage to label_AnnualImpairmentTestAssumptionsInflationPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsInflationPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualImpairmentTestAssumptionsInflationPercentage_2" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsInflationPercentage_2">Represents annual impairment test assumption, inflation percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsInflationPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsInflationPercentage_2" xlink:title="Label : AnnualImpairmentTestAssumptionsInflationPercentage to label_AnnualImpairmentTestAssumptionsInflationPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:label="AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:title="AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage">Annual Impairment Test Assumptions Country Risk Premium Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:title="Label : AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage to label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_1" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_1">Country risk premium (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_1" xlink:title="Label : AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage to label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_2" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_2">Represents annual impairment test assumption, country risk premium  percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_2" xlink:title="Label : AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage to label_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:label="AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:title="AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage">Market risk premium (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:title="Label : AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage to label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_1" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_1">Annual Impairment Test Assumptions Market Risk Premium Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_1" xlink:title="Label : AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage to label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_2" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_2">Represents annual impairment test assumption, market risk premium percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" xlink:to="label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_2" xlink:title="Label : AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage to label_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:label="AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:title="AnnualImpairmentTestAssumptionsTaxRatePercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnnualImpairmentTestAssumptionsTaxRatePercentage" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsTaxRatePercentage">Tax rate (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:to="label_AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:title="Label : AnnualImpairmentTestAssumptionsTaxRatePercentage to label_AnnualImpairmentTestAssumptionsTaxRatePercentage" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_1" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_1">Annual Impairment Test Assumptions Tax Rate Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:to="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_1" xlink:title="Label : AnnualImpairmentTestAssumptionsTaxRatePercentage to label_AnnualImpairmentTestAssumptionsTaxRatePercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_2" xml:lang="en-US" id="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_2">Represents annual impairment test assumption, tax rate percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnnualImpairmentTestAssumptionsTaxRatePercentage" xlink:to="label_AnnualImpairmentTestAssumptionsTaxRatePercentage_2" xlink:title="Label : AnnualImpairmentTestAssumptionsTaxRatePercentage to label_AnnualImpairmentTestAssumptionsTaxRatePercentage_2" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_1" xml:lang="en-US" id="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_1">Growth rates (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" xlink:to="label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_1" xlink:title="Label : DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections to label_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections_1" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_2" xml:lang="en-US" id="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_2">Discount rates (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfDiscountRatesAppliedToCashFlowProjections" xlink:to="label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_2" xlink:title="Label : DescriptionOfDiscountRatesAppliedToCashFlowProjections to label_DescriptionOfDiscountRatesAppliedToCashFlowProjections_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaximumPeriodForGasCostAdjustment" xlink:label="MaximumPeriodForGasCostAdjustment" xlink:title="MaximumPeriodForGasCostAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPeriodForGasCostAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaximumPeriodForGasCostAdjustment" xml:lang="en-US" id="label_MaximumPeriodForGasCostAdjustment">Maximum Period For Gas Cost Adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumPeriodForGasCostAdjustment" xlink:to="label_MaximumPeriodForGasCostAdjustment" xlink:title="Label : MaximumPeriodForGasCostAdjustment to label_MaximumPeriodForGasCostAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPeriodForGasCostAdjustment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaximumPeriodForGasCostAdjustment_1" xml:lang="en-US" id="label_MaximumPeriodForGasCostAdjustment_1">Maximum period allowed for gas cost adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumPeriodForGasCostAdjustment" xlink:to="label_MaximumPeriodForGasCostAdjustment_1" xlink:title="Label : MaximumPeriodForGasCostAdjustment to label_MaximumPeriodForGasCostAdjustment_1" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPeriodForGasCostAdjustment_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaximumPeriodForGasCostAdjustment_2" xml:lang="en-US" id="label_MaximumPeriodForGasCostAdjustment_2">Represents the maximum period allowed for gas cost adjustment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaximumPeriodForGasCostAdjustment" xlink:to="label_MaximumPeriodForGasCostAdjustment_2" xlink:title="Label : MaximumPeriodForGasCostAdjustment to label_MaximumPeriodForGasCostAdjustment_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PetrobrasGasSAGaspetroMember" xlink:label="PetrobrasGasSAGaspetroMember" xlink:title="PetrobrasGasSAGaspetroMember" />
    <link:label xlink:type="resource" xlink:label="label_PetrobrasGasSAGaspetroMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PetrobrasGasSAGaspetroMember" xml:lang="en-US" id="label_PetrobrasGasSAGaspetroMember">Petrobras Gas S A Gaspetro [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PetrobrasGasSAGaspetroMember" xlink:to="label_PetrobrasGasSAGaspetroMember" xlink:title="Label : PetrobrasGasSAGaspetroMember to label_PetrobrasGasSAGaspetroMember" />
    <link:label xlink:type="resource" xlink:label="label_PetrobrasGasSAGaspetroMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PetrobrasGasSAGaspetroMember_1" xml:lang="en-US" id="label_PetrobrasGasSAGaspetroMember_1">Petrobras G&#xE1;s S.A. &#x2013; Gaspetro</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PetrobrasGasSAGaspetroMember" xlink:to="label_PetrobrasGasSAGaspetroMember_1" xlink:title="Label : PetrobrasGasSAGaspetroMember to label_PetrobrasGasSAGaspetroMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PetrobrasGasSAGaspetroMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PetrobrasGasSAGaspetroMember_2" xml:lang="en-US" id="label_PetrobrasGasSAGaspetroMember_2">Represents Petrobras G&#xE1;s S.A. &#x2013; Gaspetro.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PetrobrasGasSAGaspetroMember" xlink:to="label_PetrobrasGasSAGaspetroMember_2" xlink:title="Label : PetrobrasGasSAGaspetroMember to label_PetrobrasGasSAGaspetroMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:label="ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:title="ReconciliationOfChangesInInvestmentPropertyAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReconciliationOfChangesInInvestmentPropertyAbstract" xml:lang="en-US" id="label_ReconciliationOfChangesInInvestmentPropertyAbstract">Reconciliation of changes in investment property [abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:to="label_ReconciliationOfChangesInInvestmentPropertyAbstract" xlink:title="Label : ReconciliationOfChangesInInvestmentPropertyAbstract to label_ReconciliationOfChangesInInvestmentPropertyAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:label="IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:title="IncreaseDecreaseThroughPropertyTransferTaxProvision" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughPropertyTransferTaxProvision" xml:lang="en-US" id="label_IncreaseDecreaseThroughPropertyTransferTaxProvision">Provision of Real Estate Transfer Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:to="label_IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:title="Label : IncreaseDecreaseThroughPropertyTransferTaxProvision to label_IncreaseDecreaseThroughPropertyTransferTaxProvision" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_1">The increase (decrease) in investment property resulting from Property Transfer Tax provision.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:to="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_1" xlink:title="Label : IncreaseDecreaseThroughPropertyTransferTaxProvision to label_IncreaseDecreaseThroughPropertyTransferTaxProvision_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_2">Increase Decrease through Property Transfer Tax Provision</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughPropertyTransferTaxProvision" xlink:to="label_IncreaseDecreaseThroughPropertyTransferTaxProvision_2" xlink:title="Label : IncreaseDecreaseThroughPropertyTransferTaxProvision to label_IncreaseDecreaseThroughPropertyTransferTaxProvision_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsInvestmentProperty" xlink:label="AcquisitionsThroughBusinessCombinationsInvestmentProperty" xlink:title="AcquisitionsThroughBusinessCombinationsInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty">Acquisitions through business combinations, investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsInvestmentProperty" xlink:to="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty" xlink:title="Label : AcquisitionsThroughBusinessCombinationsInvestmentProperty to label_AcquisitionsThroughBusinessCombinationsInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty_1" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty_1">Subsidiary acquisition (Note 9.3)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsInvestmentProperty" xlink:to="label_AcquisitionsThroughBusinessCombinationsInvestmentProperty_1" xlink:title="Label : AcquisitionsThroughBusinessCombinationsInvestmentProperty to label_AcquisitionsThroughBusinessCombinationsInvestmentProperty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesInvestmentProperty" xlink:label="IncreaseDecreaseThroughOtherChangesInvestmentProperty" xlink:title="IncreaseDecreaseThroughOtherChangesInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty">Increase (decrease) through other changes, investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherChangesInvestmentProperty" xlink:to="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty" xlink:title="Label : IncreaseDecreaseThroughOtherChangesInvestmentProperty to label_IncreaseDecreaseThroughOtherChangesInvestmentProperty" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SignificantUnobservableInputPercentage" xlink:label="SignificantUnobservableInputPercentage" xlink:title="SignificantUnobservableInputPercentage" />
    <link:label xlink:type="resource" xlink:label="label_SignificantUnobservableInputPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SignificantUnobservableInputPercentage" xml:lang="en-US" id="label_SignificantUnobservableInputPercentage">Significant unobservable inputs (as a percentage)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantUnobservableInputPercentage" xlink:to="label_SignificantUnobservableInputPercentage" xlink:title="Label : SignificantUnobservableInputPercentage to label_SignificantUnobservableInputPercentage" />
    <link:label xlink:type="resource" xlink:label="label_SignificantUnobservableInputPercentage_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SignificantUnobservableInputPercentage_1" xml:lang="en-US" id="label_SignificantUnobservableInputPercentage_1">Significant Unobservable Input Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantUnobservableInputPercentage" xlink:to="label_SignificantUnobservableInputPercentage_1" xlink:title="Label : SignificantUnobservableInputPercentage to label_SignificantUnobservableInputPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_SignificantUnobservableInputPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SignificantUnobservableInputPercentage_2" xml:lang="en-US" id="label_SignificantUnobservableInputPercentage_2">The percentage of significant unobservable input used in the measurement of the fair value of assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantUnobservableInputPercentage" xlink:to="label_SignificantUnobservableInputPercentage_2" xlink:title="Label : SignificantUnobservableInputPercentage to label_SignificantUnobservableInputPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfInvestmentPropertyTable" xlink:label="DisclosureOfInvestmentPropertyTable" xlink:title="DisclosureOfInvestmentPropertyTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfInvestmentPropertyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfInvestmentPropertyTable" xml:lang="en-US" id="label_DisclosureOfInvestmentPropertyTable">Balances of investment properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfInvestmentPropertyTable" xlink:to="label_DisclosureOfInvestmentPropertyTable" xlink:title="Label : DisclosureOfInvestmentPropertyTable to label_DisclosureOfInvestmentPropertyTable" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProperty_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentProperty_2" xml:lang="en-US" id="label_InvestmentProperty_2">Investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProperty" xlink:to="label_InvestmentProperty_2" xlink:title="Label : InvestmentProperty to label_InvestmentProperty_2" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProperty_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentProperty_3" xml:lang="en-US" id="label_InvestmentProperty_3">Investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProperty" xlink:to="label_InvestmentProperty_3" xlink:title="Label : InvestmentProperty to label_InvestmentProperty_3" />
    <link:label xlink:type="resource" xlink:label="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_2" xml:lang="en-US" id="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_2">Variation in fair value, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:to="label_GainsLossesOnFairValueAdjustmentInvestmentProperty_2" xlink:title="Label : GainsLossesOnFairValueAdjustmentInvestmentProperty to label_GainsLossesOnFairValueAdjustmentInvestmentProperty_2" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherChangesInvestmentProperty" xlink:to="label_IncreaseDecreaseThroughOtherChangesInvestmentProperty_1" xlink:title="Label : IncreaseDecreaseThroughOtherChangesInvestmentProperty to label_IncreaseDecreaseThroughOtherChangesInvestmentProperty_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfInterestInShareCapitalProposedToBeSold" xlink:label="PercentageOfInterestInShareCapitalProposedToBeSold" xlink:title="PercentageOfInterestInShareCapitalProposedToBeSold" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfInterestInShareCapitalProposedToBeSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfInterestInShareCapitalProposedToBeSold" xml:lang="en-US" id="label_PercentageOfInterestInShareCapitalProposedToBeSold">Percentage Of Interest In Share Capital Proposed To Be Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfInterestInShareCapitalProposedToBeSold" xlink:to="label_PercentageOfInterestInShareCapitalProposedToBeSold" xlink:title="Label : PercentageOfInterestInShareCapitalProposedToBeSold to label_PercentageOfInterestInShareCapitalProposedToBeSold" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfInterestInShareCapitalProposedToBeSold_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfInterestInShareCapitalProposedToBeSold_1" xml:lang="en-US" id="label_PercentageOfInterestInShareCapitalProposedToBeSold_1">Percentage of interest in share capital proposed to be sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfInterestInShareCapitalProposedToBeSold" xlink:to="label_PercentageOfInterestInShareCapitalProposedToBeSold_1" xlink:title="Label : PercentageOfInterestInShareCapitalProposedToBeSold to label_PercentageOfInterestInShareCapitalProposedToBeSold_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfInterestInShareCapitalProposedToBeSold_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfInterestInShareCapitalProposedToBeSold_2" xml:lang="en-US" id="label_PercentageOfInterestInShareCapitalProposedToBeSold_2">Represents the percentage of interest in share capital proposed to be sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfInterestInShareCapitalProposedToBeSold" xlink:to="label_PercentageOfInterestInShareCapitalProposedToBeSold_2" xlink:title="Label : PercentageOfInterestInShareCapitalProposedToBeSold to label_PercentageOfInterestInShareCapitalProposedToBeSold_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:label="ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:title="ContingentConsiderationRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentConsiderationRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_ContingentConsiderationRecognisedAsOfAcquisitionDate">Contingent consideration recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:to="label_ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:title="Label : ContingentConsiderationRecognisedAsOfAcquisitionDate to label_ContingentConsiderationRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_ContingentConsiderationRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContingentConsiderationRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_ContingentConsiderationRecognisedAsOfAcquisitionDate_1">Amount to be paid for the acquisition of control of Gaspetro</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentConsiderationRecognisedAsOfAcquisitionDate" xlink:to="label_ContingentConsiderationRecognisedAsOfAcquisitionDate_1" xlink:title="Label : ContingentConsiderationRecognisedAsOfAcquisitionDate to label_ContingentConsiderationRecognisedAsOfAcquisitionDate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ShellBrandsInternationalAGMember" xlink:label="ShellBrandsInternationalAGMember" xlink:title="ShellBrandsInternationalAGMember" />
    <link:label xlink:type="resource" xlink:label="label_ShellBrandsInternationalAGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShellBrandsInternationalAGMember" xml:lang="en-US" id="label_ShellBrandsInternationalAGMember">Shell Brands International A G [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShellBrandsInternationalAGMember" xlink:to="label_ShellBrandsInternationalAGMember" xlink:title="Label : ShellBrandsInternationalAGMember to label_ShellBrandsInternationalAGMember" />
    <link:label xlink:type="resource" xlink:label="label_ShellBrandsInternationalAGMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShellBrandsInternationalAGMember_1" xml:lang="en-US" id="label_ShellBrandsInternationalAGMember_1">Shell Brands International A G</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShellBrandsInternationalAGMember" xlink:to="label_ShellBrandsInternationalAGMember_1" xlink:title="Label : ShellBrandsInternationalAGMember to label_ShellBrandsInternationalAGMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ShellBrandsInternationalAGMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShellBrandsInternationalAGMember_2" xml:lang="en-US" id="label_ShellBrandsInternationalAGMember_2">Represents Shell Brands International A G.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShellBrandsInternationalAGMember" xlink:to="label_ShellBrandsInternationalAGMember_2" xlink:title="Label : ShellBrandsInternationalAGMember to label_ShellBrandsInternationalAGMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RaizenSAMember" xlink:label="RaizenSAMember" xlink:title="RaizenSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RaizenSAMember" xml:lang="en-US" id="label_RaizenSAMember">Represents Raizen S A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenSAMember" xlink:to="label_RaizenSAMember" xlink:title="Label : RaizenSAMember to label_RaizenSAMember" />
    <link:label xlink:type="resource" xlink:label="label_RaizenSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RaizenSAMember_1" xml:lang="en-US" id="label_RaizenSAMember_1">Raizen S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenSAMember" xlink:to="label_RaizenSAMember_1" xlink:title="Label : RaizenSAMember to label_RaizenSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RaizenSAMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RaizenSAMember_2" xml:lang="en-US" id="label_RaizenSAMember_2">Raizen S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RaizenSAMember" xlink:to="label_RaizenSAMember_2" xlink:title="Label : RaizenSAMember to label_RaizenSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:label="MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:title="MinimumPeriodOfLicenseAgreementToUseBrandName" />
    <link:label xlink:type="resource" xlink:label="label_MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinimumPeriodOfLicenseAgreementToUseBrandName" xml:lang="en-US" id="label_MinimumPeriodOfLicenseAgreementToUseBrandName">Minimum Period Of License Agreement To Use Brand Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:to="label_MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:title="Label : MinimumPeriodOfLicenseAgreementToUseBrandName to label_MinimumPeriodOfLicenseAgreementToUseBrandName" />
    <link:label xlink:type="resource" xlink:label="label_MinimumPeriodOfLicenseAgreementToUseBrandName_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinimumPeriodOfLicenseAgreementToUseBrandName_1" xml:lang="en-US" id="label_MinimumPeriodOfLicenseAgreementToUseBrandName_1">Minimum period of license agreement to use the "Shell" brand</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:to="label_MinimumPeriodOfLicenseAgreementToUseBrandName_1" xlink:title="Label : MinimumPeriodOfLicenseAgreementToUseBrandName to label_MinimumPeriodOfLicenseAgreementToUseBrandName_1" />
    <link:label xlink:type="resource" xlink:label="label_MinimumPeriodOfLicenseAgreementToUseBrandName_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MinimumPeriodOfLicenseAgreementToUseBrandName_2" xml:lang="en-US" id="label_MinimumPeriodOfLicenseAgreementToUseBrandName_2">Represent the minimum period of licnese agreement to keep the right to use the brandname.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumPeriodOfLicenseAgreementToUseBrandName" xlink:to="label_MinimumPeriodOfLicenseAgreementToUseBrandName_2" xlink:title="Label : MinimumPeriodOfLicenseAgreementToUseBrandName to label_MinimumPeriodOfLicenseAgreementToUseBrandName_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisposalsOfRightOfUseAssets" xlink:label="DisposalsOfRightOfUseAssets" xlink:title="DisposalsOfRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_DisposalsOfRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisposalsOfRightOfUseAssets" xml:lang="en-US" id="label_DisposalsOfRightOfUseAssets">Disposals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsOfRightOfUseAssets" xlink:to="label_DisposalsOfRightOfUseAssets" xlink:title="Label : DisposalsOfRightOfUseAssets to label_DisposalsOfRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_DisposalsOfRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisposalsOfRightOfUseAssets_1" xml:lang="en-US" id="label_DisposalsOfRightOfUseAssets_1">Disposals of Right of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsOfRightOfUseAssets" xlink:to="label_DisposalsOfRightOfUseAssets_1" xlink:title="Label : DisposalsOfRightOfUseAssets to label_DisposalsOfRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_DisposalsOfRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisposalsOfRightOfUseAssets_2" xml:lang="en-US" id="label_DisposalsOfRightOfUseAssets_2">Represents the disposals of right of use assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsOfRightOfUseAssets" xlink:to="label_DisposalsOfRightOfUseAssets_2" xlink:title="Label : DisposalsOfRightOfUseAssets to label_DisposalsOfRightOfUseAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:label="AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:title="AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" />
    <link:label xlink:type="resource" xlink:label="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xml:lang="en-US" id="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember">AtmosIl&#xED;quidos 1 Fundo De Investimento Em Acoes Atmos Master Fundo De Investimento Em Acoes ManzatInversiones Auu S A And Ricardo Ernesto Correa Da Silva [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:to="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:title="Label : AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember to label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" />
    <link:label xlink:type="resource" xlink:label="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_1" xml:lang="en-US" id="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_1">Investors</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:to="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_1" xlink:title="Label : AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember to label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_2" xml:lang="en-US" id="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_2">Represents Atmos Il&#xED;quidos 1 Fundo de Investimento em A&#xE7;&#xF5;es, Atmos Master Fundo de Investimento em A&#xE7;&#xF5;es, Manzat Inversiones Auu S.A. and Ricardo Ernesto Correa da Silva (together "Investors").</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" xlink:to="label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_2" xlink:title="Label : AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember to label_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfPreferredSharesAgreedToBeSubscribed" xlink:label="NumberOfPreferredSharesAgreedToBeSubscribed" xlink:title="NumberOfPreferredSharesAgreedToBeSubscribed" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPreferredSharesAgreedToBeSubscribed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPreferredSharesAgreedToBeSubscribed" xml:lang="en-US" id="label_NumberOfPreferredSharesAgreedToBeSubscribed">Number Of Preferred Shares Agreed To Be Subscribed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPreferredSharesAgreedToBeSubscribed" xlink:to="label_NumberOfPreferredSharesAgreedToBeSubscribed" xlink:title="Label : NumberOfPreferredSharesAgreedToBeSubscribed to label_NumberOfPreferredSharesAgreedToBeSubscribed" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPreferredSharesAgreedToBeSubscribed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPreferredSharesAgreedToBeSubscribed_1" xml:lang="en-US" id="label_NumberOfPreferredSharesAgreedToBeSubscribed_1">Number of preferred shares agree to be subscribed (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPreferredSharesAgreedToBeSubscribed" xlink:to="label_NumberOfPreferredSharesAgreedToBeSubscribed_1" xlink:title="Label : NumberOfPreferredSharesAgreedToBeSubscribed to label_NumberOfPreferredSharesAgreedToBeSubscribed_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPreferredSharesAgreedToBeSubscribed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPreferredSharesAgreedToBeSubscribed_2" xml:lang="en-US" id="label_NumberOfPreferredSharesAgreedToBeSubscribed_2">Represents the number of preferred shares agree to be subscribed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPreferredSharesAgreedToBeSubscribed" xlink:to="label_NumberOfPreferredSharesAgreedToBeSubscribed_2" xlink:title="Label : NumberOfPreferredSharesAgreedToBeSubscribed to label_NumberOfPreferredSharesAgreedToBeSubscribed_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:label="PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:title="PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xml:lang="en-US" id="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock">Represents the preferred stock agreed to be subsrcibed as a percent of capital stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:to="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:title="Label : PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock to label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_1" xml:lang="en-US" id="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_1">Preferred stock agreed to be subsrcibed as a percent of share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:to="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_1" xlink:title="Label : PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock to label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_2" xml:lang="en-US" id="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_2">Preferred Shares Agreed To Be Subscribed As Percentage Of Capital Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" xlink:to="label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_2" xlink:title="Label : PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock to label_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:label="ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:title="ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" />
    <link:label xlink:type="resource" xlink:label="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xml:lang="en-US" id="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty">Contribution Of Entity In Subscription Of Preferred Stock By Counterparty</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:to="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:title="Label : ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty to label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" />
    <link:label xlink:type="resource" xlink:label="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_1" xml:lang="en-US" id="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_1">Compass Contribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:to="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_1" xlink:title="Label : ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty to label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_1" />
    <link:label xlink:type="resource" xlink:label="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_2" xml:lang="en-US" id="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_2">Represents the contribution of entity in subscription of preferred stock by counterparty.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" xlink:to="label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_2" xlink:title="Label : ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty to label_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:label="BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:title="BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xml:lang="en-US" id="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember">Bradesco Vida E Previdencia S A B C Gestao De Recursos Ltda Prisma Capital Ltda And Nucleus Capital Ltda [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:to="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:title="Label : BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember to label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" />
    <link:label xlink:type="resource" xlink:label="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_1" xml:lang="en-US" id="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_1">Bradesco Vida e Previd&#xEA;ncia S.A. (&#x201C;Bradesco&#x201D;), BC Gest&#xE3;o de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:to="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_1" xlink:title="Label : BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember to label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_2" xml:lang="en-US" id="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_2">Represents Bradesco Vida e Previd&#xEA;ncia S.A. (&#x201C;Bradesco&#x201D;), BC Gest&#xE3;o de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" xlink:to="label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_2" xlink:title="Label : BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember to label_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredSharesAgreedToBeSubscribed" xlink:label="PreferredSharesAgreedToBeSubscribed" xlink:title="PreferredSharesAgreedToBeSubscribed" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesAgreedToBeSubscribed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredSharesAgreedToBeSubscribed" xml:lang="en-US" id="label_PreferredSharesAgreedToBeSubscribed">Preferred Shares Agreed To Be Subscribed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesAgreedToBeSubscribed" xlink:to="label_PreferredSharesAgreedToBeSubscribed" xlink:title="Label : PreferredSharesAgreedToBeSubscribed to label_PreferredSharesAgreedToBeSubscribed" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesAgreedToBeSubscribed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredSharesAgreedToBeSubscribed_1" xml:lang="en-US" id="label_PreferredSharesAgreedToBeSubscribed_1">Preferred shares agree to be subscribed (in R$)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesAgreedToBeSubscribed" xlink:to="label_PreferredSharesAgreedToBeSubscribed_1" xlink:title="Label : PreferredSharesAgreedToBeSubscribed to label_PreferredSharesAgreedToBeSubscribed_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesAgreedToBeSubscribed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredSharesAgreedToBeSubscribed_2" xml:lang="en-US" id="label_PreferredSharesAgreedToBeSubscribed_2">Represents the amount of preferred shares agree to be subscribed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesAgreedToBeSubscribed" xlink:to="label_PreferredSharesAgreedToBeSubscribed_2" xlink:title="Label : PreferredSharesAgreedToBeSubscribed to label_PreferredSharesAgreedToBeSubscribed_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BradescoVidaEPrevidenciaSAMember" xlink:label="BradescoVidaEPrevidenciaSAMember" xlink:title="BradescoVidaEPrevidenciaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BradescoVidaEPrevidenciaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BradescoVidaEPrevidenciaSAMember" xml:lang="en-US" id="label_BradescoVidaEPrevidenciaSAMember">Bradesco Vida E Previdencia S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradescoVidaEPrevidenciaSAMember" xlink:to="label_BradescoVidaEPrevidenciaSAMember" xlink:title="Label : BradescoVidaEPrevidenciaSAMember to label_BradescoVidaEPrevidenciaSAMember" />
    <link:label xlink:type="resource" xlink:label="label_BradescoVidaEPrevidenciaSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BradescoVidaEPrevidenciaSAMember_1" xml:lang="en-US" id="label_BradescoVidaEPrevidenciaSAMember_1">Bradesco</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradescoVidaEPrevidenciaSAMember" xlink:to="label_BradescoVidaEPrevidenciaSAMember_1" xlink:title="Label : BradescoVidaEPrevidenciaSAMember to label_BradescoVidaEPrevidenciaSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BradescoVidaEPrevidenciaSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BradescoVidaEPrevidenciaSAMember_2" xml:lang="en-US" id="label_BradescoVidaEPrevidenciaSAMember_2">Represents Bradesco Vida e Previd&#xEA;ncia S.A..</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BradescoVidaEPrevidenciaSAMember" xlink:to="label_BradescoVidaEPrevidenciaSAMember_2" xlink:title="Label : BradescoVidaEPrevidenciaSAMember to label_BradescoVidaEPrevidenciaSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssuedCapitalPreferenceShares" xlink:label="IssuedCapitalPreferenceShares" xlink:title="IssuedCapitalPreferenceShares" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapitalPreferenceShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuedCapitalPreferenceShares" xml:lang="en-US" id="label_IssuedCapitalPreferenceShares">Issued capital, preference shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalPreferenceShares" xlink:to="label_IssuedCapitalPreferenceShares" xlink:title="Label : IssuedCapitalPreferenceShares to label_IssuedCapitalPreferenceShares" />
    <link:label xlink:type="resource" xlink:label="label_IssuedCapitalPreferenceShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuedCapitalPreferenceShares_1" xml:lang="en-US" id="label_IssuedCapitalPreferenceShares_1">Preferred share issue (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuedCapitalPreferenceShares" xlink:to="label_IssuedCapitalPreferenceShares_1" xlink:title="Label : IssuedCapitalPreferenceShares to label_IssuedCapitalPreferenceShares_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SharesIssuedAsPercentageOfCapitalStock" xlink:label="SharesIssuedAsPercentageOfCapitalStock" xlink:title="SharesIssuedAsPercentageOfCapitalStock" />
    <link:label xlink:type="resource" xlink:label="label_SharesIssuedAsPercentageOfCapitalStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharesIssuedAsPercentageOfCapitalStock" xml:lang="en-US" id="label_SharesIssuedAsPercentageOfCapitalStock">Shares Issued As Percentage Of Capital Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssuedAsPercentageOfCapitalStock" xlink:to="label_SharesIssuedAsPercentageOfCapitalStock" xlink:title="Label : SharesIssuedAsPercentageOfCapitalStock to label_SharesIssuedAsPercentageOfCapitalStock" />
    <link:label xlink:type="resource" xlink:label="label_SharesIssuedAsPercentageOfCapitalStock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharesIssuedAsPercentageOfCapitalStock_1" xml:lang="en-US" id="label_SharesIssuedAsPercentageOfCapitalStock_1">Preferred share issued as percentage of share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssuedAsPercentageOfCapitalStock" xlink:to="label_SharesIssuedAsPercentageOfCapitalStock_1" xlink:title="Label : SharesIssuedAsPercentageOfCapitalStock to label_SharesIssuedAsPercentageOfCapitalStock_1" />
    <link:label xlink:type="resource" xlink:label="label_SharesIssuedAsPercentageOfCapitalStock_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SharesIssuedAsPercentageOfCapitalStock_2" xml:lang="en-US" id="label_SharesIssuedAsPercentageOfCapitalStock_2">Represents the share issued as percentage of aggregate share capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssuedAsPercentageOfCapitalStock" xlink:to="label_SharesIssuedAsPercentageOfCapitalStock_2" xlink:title="Label : SharesIssuedAsPercentageOfCapitalStock to label_SharesIssuedAsPercentageOfCapitalStock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferenceSharesClassBMember" xlink:label="PreferenceSharesClassBMember" xlink:title="PreferenceSharesClassBMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferenceSharesClassBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferenceSharesClassBMember" xml:lang="en-US" id="label_PreferenceSharesClassBMember">Preference Shares Class B [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesClassBMember" xlink:to="label_PreferenceSharesClassBMember" xlink:title="Label : PreferenceSharesClassBMember to label_PreferenceSharesClassBMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferenceSharesClassBMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferenceSharesClassBMember_1" xml:lang="en-US" id="label_PreferenceSharesClassBMember_1">Class B preferred shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesClassBMember" xlink:to="label_PreferenceSharesClassBMember_1" xlink:title="Label : PreferenceSharesClassBMember to label_PreferenceSharesClassBMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferenceSharesClassBMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferenceSharesClassBMember_2" xml:lang="en-US" id="label_PreferenceSharesClassBMember_2">Represents the class B preferred shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferenceSharesClassBMember" xlink:to="label_PreferenceSharesClassBMember_2" xlink:title="Label : PreferenceSharesClassBMember to label_PreferenceSharesClassBMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IssuePricePerShare" xlink:label="IssuePricePerShare" xlink:title="IssuePricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_IssuePricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IssuePricePerShare" xml:lang="en-US" id="label_IssuePricePerShare">Issue Price Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuePricePerShare" xlink:to="label_IssuePricePerShare" xlink:title="Label : IssuePricePerShare to label_IssuePricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_IssuePricePerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IssuePricePerShare_1" xml:lang="en-US" id="label_IssuePricePerShare_1">Issue price (In R$ per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuePricePerShare" xlink:to="label_IssuePricePerShare_1" xlink:title="Label : IssuePricePerShare to label_IssuePricePerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_IssuePricePerShare_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IssuePricePerShare_2" xml:lang="en-US" id="label_IssuePricePerShare_2">Represents the issue price per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuePricePerShare" xlink:to="label_IssuePricePerShare_2" xlink:title="Label : IssuePricePerShare to label_IssuePricePerShare_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesNotContributedInCapitalIncrease" xlink:label="NumberOfSharesNotContributedInCapitalIncrease" xlink:title="NumberOfSharesNotContributedInCapitalIncrease" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesNotContributedInCapitalIncrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesNotContributedInCapitalIncrease" xml:lang="en-US" id="label_NumberOfSharesNotContributedInCapitalIncrease">Number Of Shares Not Contributed In Capital Increase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesNotContributedInCapitalIncrease" xlink:to="label_NumberOfSharesNotContributedInCapitalIncrease" xlink:title="Label : NumberOfSharesNotContributedInCapitalIncrease to label_NumberOfSharesNotContributedInCapitalIncrease" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesNotContributedInCapitalIncrease_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesNotContributedInCapitalIncrease_1" xml:lang="en-US" id="label_NumberOfSharesNotContributedInCapitalIncrease_1">Number of shares not contributed in capital increase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesNotContributedInCapitalIncrease" xlink:to="label_NumberOfSharesNotContributedInCapitalIncrease_1" xlink:title="Label : NumberOfSharesNotContributedInCapitalIncrease to label_NumberOfSharesNotContributedInCapitalIncrease_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesNotContributedInCapitalIncrease_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesNotContributedInCapitalIncrease_2" xml:lang="en-US" id="label_NumberOfSharesNotContributedInCapitalIncrease_2">Number of shares not contributed in capital increase.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesNotContributedInCapitalIncrease" xlink:to="label_NumberOfSharesNotContributedInCapitalIncrease_2" xlink:title="Label : NumberOfSharesNotContributedInCapitalIncrease to label_NumberOfSharesNotContributedInCapitalIncrease_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ShareholdingPercentage" xlink:label="ShareholdingPercentage" xlink:title="ShareholdingPercentage" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdingPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareholdingPercentage" xml:lang="en-US" id="label_ShareholdingPercentage">Shareholding Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdingPercentage" xlink:to="label_ShareholdingPercentage" xlink:title="Label : ShareholdingPercentage to label_ShareholdingPercentage" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdingPercentage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareholdingPercentage_1" xml:lang="en-US" id="label_ShareholdingPercentage_1">Shareholding percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdingPercentage" xlink:to="label_ShareholdingPercentage_1" xlink:title="Label : ShareholdingPercentage to label_ShareholdingPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_ShareholdingPercentage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ShareholdingPercentage_2" xml:lang="en-US" id="label_ShareholdingPercentage_2">Represents the shareholding percentage.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareholdingPercentage" xlink:to="label_ShareholdingPercentage_2" xlink:title="Label : ShareholdingPercentage to label_ShareholdingPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:label="AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:title="AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" />
    <link:label xlink:type="resource" xlink:label="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xml:lang="en-US" id="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost">Amount Raised In Initial Public Offering Net Of Issuance Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:to="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:title="Label : AmountRaisedInInitialPublicOfferingNetOfIssuanceCost to label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" />
    <link:label xlink:type="resource" xlink:label="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_1" xml:lang="en-US" id="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_1">Net amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:to="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_1" xlink:title="Label : AmountRaisedInInitialPublicOfferingNetOfIssuanceCost to label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_2" xml:lang="en-US" id="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_2">Represents the net amount raised in IPO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" xlink:to="label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_2" xlink:title="Label : AmountRaisedInInitialPublicOfferingNetOfIssuanceCost to label_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ShareIssueRelatedCost" xlink:label="ShareIssueRelatedCost" xlink:title="ShareIssueRelatedCost" />
    <link:label xlink:type="resource" xlink:label="label_ShareIssueRelatedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareIssueRelatedCost" xml:lang="en-US" id="label_ShareIssueRelatedCost">Share issue related cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssueRelatedCost" xlink:to="label_ShareIssueRelatedCost" xlink:title="Label : ShareIssueRelatedCost to label_ShareIssueRelatedCost" />
    <link:label xlink:type="resource" xlink:label="label_ShareIssueRelatedCost_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareIssueRelatedCost_1" xml:lang="en-US" id="label_ShareIssueRelatedCost_1">Funding costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareIssueRelatedCost" xlink:to="label_ShareIssueRelatedCost_1" xlink:title="Label : ShareIssueRelatedCost to label_ShareIssueRelatedCost_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NominalLicensedRegasificationCapacity" xlink:label="NominalLicensedRegasificationCapacity" xlink:title="NominalLicensedRegasificationCapacity" />
    <link:label xlink:type="resource" xlink:label="label_NominalLicensedRegasificationCapacity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NominalLicensedRegasificationCapacity" xml:lang="en-US" id="label_NominalLicensedRegasificationCapacity">Represents the nominal licensed regasification capacity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalLicensedRegasificationCapacity" xlink:to="label_NominalLicensedRegasificationCapacity" xlink:title="Label : NominalLicensedRegasificationCapacity to label_NominalLicensedRegasificationCapacity" />
    <link:label xlink:type="resource" xlink:label="label_NominalLicensedRegasificationCapacity_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NominalLicensedRegasificationCapacity_1" xml:lang="en-US" id="label_NominalLicensedRegasificationCapacity_1">Nominal licensed regasification capacity (in m&#xB3;/day)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalLicensedRegasificationCapacity" xlink:to="label_NominalLicensedRegasificationCapacity_1" xlink:title="Label : NominalLicensedRegasificationCapacity to label_NominalLicensedRegasificationCapacity_1" />
    <link:label xlink:type="resource" xlink:label="label_NominalLicensedRegasificationCapacity_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NominalLicensedRegasificationCapacity_2" xml:lang="en-US" id="label_NominalLicensedRegasificationCapacity_2">Nominal Licensed Regasification Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NominalLicensedRegasificationCapacity" xlink:to="label_NominalLicensedRegasificationCapacity_2" xlink:title="Label : NominalLicensedRegasificationCapacity to label_NominalLicensedRegasificationCapacity_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_StorageOfLiquefiedNaturalGas" xlink:label="StorageOfLiquefiedNaturalGas" xlink:title="StorageOfLiquefiedNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_StorageOfLiquefiedNaturalGas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StorageOfLiquefiedNaturalGas" xml:lang="en-US" id="label_StorageOfLiquefiedNaturalGas">Storage Of Liquefied Natural Gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StorageOfLiquefiedNaturalGas" xlink:to="label_StorageOfLiquefiedNaturalGas" xlink:title="Label : StorageOfLiquefiedNaturalGas to label_StorageOfLiquefiedNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_StorageOfLiquefiedNaturalGas_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StorageOfLiquefiedNaturalGas_1" xml:lang="en-US" id="label_StorageOfLiquefiedNaturalGas_1">Storage of liquefied natural gas (in m&#xB3;)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StorageOfLiquefiedNaturalGas" xlink:to="label_StorageOfLiquefiedNaturalGas_1" xlink:title="Label : StorageOfLiquefiedNaturalGas to label_StorageOfLiquefiedNaturalGas_1" />
    <link:label xlink:type="resource" xlink:label="label_StorageOfLiquefiedNaturalGas_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_StorageOfLiquefiedNaturalGas_2" xml:lang="en-US" id="label_StorageOfLiquefiedNaturalGas_2">Represents the storage of liquefied natural gas.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StorageOfLiquefiedNaturalGas" xlink:to="label_StorageOfLiquefiedNaturalGas_2" xlink:title="Label : StorageOfLiquefiedNaturalGas to label_StorageOfLiquefiedNaturalGas_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EstimatedTimeForConstruction" xlink:label="EstimatedTimeForConstruction" xlink:title="EstimatedTimeForConstruction" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedTimeForConstruction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedTimeForConstruction" xml:lang="en-US" id="label_EstimatedTimeForConstruction">Estimated Time For Construction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedTimeForConstruction" xlink:to="label_EstimatedTimeForConstruction" xlink:title="Label : EstimatedTimeForConstruction to label_EstimatedTimeForConstruction" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedTimeForConstruction_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedTimeForConstruction_1" xml:lang="en-US" id="label_EstimatedTimeForConstruction_1">Estimated time for construction (in months)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedTimeForConstruction" xlink:to="label_EstimatedTimeForConstruction_1" xlink:title="Label : EstimatedTimeForConstruction to label_EstimatedTimeForConstruction_1" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedTimeForConstruction_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EstimatedTimeForConstruction_2" xml:lang="en-US" id="label_EstimatedTimeForConstruction_2">Represents the estimated time for construction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedTimeForConstruction" xlink:to="label_EstimatedTimeForConstruction_2" xlink:title="Label : EstimatedTimeForConstruction to label_EstimatedTimeForConstruction_2" />
    <link:label xlink:type="resource" xlink:label="label_ConsiderationPaidReceived_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConsiderationPaidReceived_1" xml:lang="en-US" id="label_ConsiderationPaidReceived_1">Additional payment for the acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConsiderationPaidReceived" xlink:to="label_ConsiderationPaidReceived_1" xlink:title="Label : ConsiderationPaidReceived to label_ConsiderationPaidReceived_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_HederaInvestimentosEParticipacoesSAMember" xlink:label="HederaInvestimentosEParticipacoesSAMember" xlink:title="HederaInvestimentosEParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_HederaInvestimentosEParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_HederaInvestimentosEParticipacoesSAMember" xml:lang="en-US" id="label_HederaInvestimentosEParticipacoesSAMember">Hedera Investimentos E Participacoes S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HederaInvestimentosEParticipacoesSAMember" xlink:to="label_HederaInvestimentosEParticipacoesSAMember" xlink:title="Label : HederaInvestimentosEParticipacoesSAMember to label_HederaInvestimentosEParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_HederaInvestimentosEParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_HederaInvestimentosEParticipacoesSAMember_1" xml:lang="en-US" id="label_HederaInvestimentosEParticipacoesSAMember_1">H&#xE9;dera Investimentos e Participa&#xE7;&#xF5;es S.A</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HederaInvestimentosEParticipacoesSAMember" xlink:to="label_HederaInvestimentosEParticipacoesSAMember_1" xlink:title="Label : HederaInvestimentosEParticipacoesSAMember to label_HederaInvestimentosEParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_HederaInvestimentosEParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_HederaInvestimentosEParticipacoesSAMember_2" xml:lang="en-US" id="label_HederaInvestimentosEParticipacoesSAMember_2">Represents H&#xE9;dera Investimentos e Participa&#xE7;&#xF5;es S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HederaInvestimentosEParticipacoesSAMember" xlink:to="label_HederaInvestimentosEParticipacoesSAMember_2" xlink:title="Label : HederaInvestimentosEParticipacoesSAMember to label_HederaInvestimentosEParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SubscriptionBonusExercised" xlink:label="SubscriptionBonusExercised" xlink:title="SubscriptionBonusExercised" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionBonusExercised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubscriptionBonusExercised" xml:lang="en-US" id="label_SubscriptionBonusExercised">Subscription Bonus Exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionBonusExercised" xlink:to="label_SubscriptionBonusExercised" xlink:title="Label : SubscriptionBonusExercised to label_SubscriptionBonusExercised" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionBonusExercised_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubscriptionBonusExercised_1" xml:lang="en-US" id="label_SubscriptionBonusExercised_1">Subscription Bonus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionBonusExercised" xlink:to="label_SubscriptionBonusExercised_1" xlink:title="Label : SubscriptionBonusExercised to label_SubscriptionBonusExercised_1" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionBonusExercised_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SubscriptionBonusExercised_2" xml:lang="en-US" id="label_SubscriptionBonusExercised_2">Represents the amount of subscription bonus exercised.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionBonusExercised" xlink:to="label_SubscriptionBonusExercised_2" xlink:title="Label : SubscriptionBonusExercised to label_SubscriptionBonusExercised_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MarketValueAdjustmentToSubscriptionBonus" xlink:label="MarketValueAdjustmentToSubscriptionBonus" xlink:title="MarketValueAdjustmentToSubscriptionBonus" />
    <link:label xlink:type="resource" xlink:label="label_MarketValueAdjustmentToSubscriptionBonus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MarketValueAdjustmentToSubscriptionBonus" xml:lang="en-US" id="label_MarketValueAdjustmentToSubscriptionBonus">Market Value Adjustment To Subscription Bonus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketValueAdjustmentToSubscriptionBonus" xlink:to="label_MarketValueAdjustmentToSubscriptionBonus" xlink:title="Label : MarketValueAdjustmentToSubscriptionBonus to label_MarketValueAdjustmentToSubscriptionBonus" />
    <link:label xlink:type="resource" xlink:label="label_MarketValueAdjustmentToSubscriptionBonus_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MarketValueAdjustmentToSubscriptionBonus_1" xml:lang="en-US" id="label_MarketValueAdjustmentToSubscriptionBonus_1">Market value adjustment to subscription bonus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketValueAdjustmentToSubscriptionBonus" xlink:to="label_MarketValueAdjustmentToSubscriptionBonus_1" xlink:title="Label : MarketValueAdjustmentToSubscriptionBonus to label_MarketValueAdjustmentToSubscriptionBonus_1" />
    <link:label xlink:type="resource" xlink:label="label_MarketValueAdjustmentToSubscriptionBonus_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MarketValueAdjustmentToSubscriptionBonus_2" xml:lang="en-US" id="label_MarketValueAdjustmentToSubscriptionBonus_2">Represents the amount of market value adjustment to subscription bonus.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarketValueAdjustmentToSubscriptionBonus" xlink:to="label_MarketValueAdjustmentToSubscriptionBonus_2" xlink:title="Label : MarketValueAdjustmentToSubscriptionBonus to label_MarketValueAdjustmentToSubscriptionBonus_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SubscriptionBonusNetOfMarketValueAdjustment" xlink:label="SubscriptionBonusNetOfMarketValueAdjustment" xlink:title="SubscriptionBonusNetOfMarketValueAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionBonusNetOfMarketValueAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubscriptionBonusNetOfMarketValueAdjustment" xml:lang="en-US" id="label_SubscriptionBonusNetOfMarketValueAdjustment">Subscription Bonus Net Of Market Value Adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionBonusNetOfMarketValueAdjustment" xlink:to="label_SubscriptionBonusNetOfMarketValueAdjustment" xlink:title="Label : SubscriptionBonusNetOfMarketValueAdjustment to label_SubscriptionBonusNetOfMarketValueAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionBonusNetOfMarketValueAdjustment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubscriptionBonusNetOfMarketValueAdjustment_1" xml:lang="en-US" id="label_SubscriptionBonusNetOfMarketValueAdjustment_1">Subscription bonus net of market value adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionBonusNetOfMarketValueAdjustment" xlink:to="label_SubscriptionBonusNetOfMarketValueAdjustment_1" xlink:title="Label : SubscriptionBonusNetOfMarketValueAdjustment to label_SubscriptionBonusNetOfMarketValueAdjustment_1" />
    <link:label xlink:type="resource" xlink:label="label_SubscriptionBonusNetOfMarketValueAdjustment_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SubscriptionBonusNetOfMarketValueAdjustment_2" xml:lang="en-US" id="label_SubscriptionBonusNetOfMarketValueAdjustment_2">Represents the amount of subscription bonus net of market value adjustment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscriptionBonusNetOfMarketValueAdjustment" xlink:to="label_SubscriptionBonusNetOfMarketValueAdjustment_2" xlink:title="Label : SubscriptionBonusNetOfMarketValueAdjustment to label_SubscriptionBonusNetOfMarketValueAdjustment_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:label="PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:title="PreferredSharesIssuedAsPercentageOfCapitalStock" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PreferredSharesIssuedAsPercentageOfCapitalStock" xml:lang="en-US" id="label_PreferredSharesIssuedAsPercentageOfCapitalStock">Represents the amount of Preferred Shares Issued As Percentage Of Capital Stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:to="label_PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:title="Label : PreferredSharesIssuedAsPercentageOfCapitalStock to label_PreferredSharesIssuedAsPercentageOfCapitalStock" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesIssuedAsPercentageOfCapitalStock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredSharesIssuedAsPercentageOfCapitalStock_1" xml:lang="en-US" id="label_PreferredSharesIssuedAsPercentageOfCapitalStock_1">Preferred shares issued as percentage of share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:to="label_PreferredSharesIssuedAsPercentageOfCapitalStock_1" xlink:title="Label : PreferredSharesIssuedAsPercentageOfCapitalStock to label_PreferredSharesIssuedAsPercentageOfCapitalStock_1" />
    <link:label xlink:type="resource" xlink:label="label_PreferredSharesIssuedAsPercentageOfCapitalStock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredSharesIssuedAsPercentageOfCapitalStock_2" xml:lang="en-US" id="label_PreferredSharesIssuedAsPercentageOfCapitalStock_2">Preferred Shares Issued As Percentage Of Capital Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredSharesIssuedAsPercentageOfCapitalStock" xlink:to="label_PreferredSharesIssuedAsPercentageOfCapitalStock_2" xlink:title="Label : PreferredSharesIssuedAsPercentageOfCapitalStock to label_PreferredSharesIssuedAsPercentageOfCapitalStock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CostOfBusinessCombination" xlink:label="CostOfBusinessCombination" xlink:title="CostOfBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_CostOfBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfBusinessCombination" xml:lang="en-US" id="label_CostOfBusinessCombination">Cost Of Business Combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfBusinessCombination" xlink:to="label_CostOfBusinessCombination" xlink:title="Label : CostOfBusinessCombination to label_CostOfBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_CostOfBusinessCombination_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CostOfBusinessCombination_1" xml:lang="en-US" id="label_CostOfBusinessCombination_1">Cost of acqusition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfBusinessCombination" xlink:to="label_CostOfBusinessCombination_1" xlink:title="Label : CostOfBusinessCombination to label_CostOfBusinessCombination_1" />
    <link:label xlink:type="resource" xlink:label="label_CostOfBusinessCombination_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CostOfBusinessCombination_2" xml:lang="en-US" id="label_CostOfBusinessCombination_2">Represents Cost of acqusition.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfBusinessCombination" xlink:to="label_CostOfBusinessCombination_2" xlink:title="Label : CostOfBusinessCombination to label_CostOfBusinessCombination_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MinorityInterestAcquiredInBusinessCombination" xlink:label="MinorityInterestAcquiredInBusinessCombination" xlink:title="MinorityInterestAcquiredInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_MinorityInterestAcquiredInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MinorityInterestAcquiredInBusinessCombination" xml:lang="en-US" id="label_MinorityInterestAcquiredInBusinessCombination">Minority Interest Acquired In Business Combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestAcquiredInBusinessCombination" xlink:to="label_MinorityInterestAcquiredInBusinessCombination" xlink:title="Label : MinorityInterestAcquiredInBusinessCombination to label_MinorityInterestAcquiredInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_MinorityInterestAcquiredInBusinessCombination_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MinorityInterestAcquiredInBusinessCombination_1" xml:lang="en-US" id="label_MinorityInterestAcquiredInBusinessCombination_1">Price of minority interest acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestAcquiredInBusinessCombination" xlink:to="label_MinorityInterestAcquiredInBusinessCombination_1" xlink:title="Label : MinorityInterestAcquiredInBusinessCombination to label_MinorityInterestAcquiredInBusinessCombination_1" />
    <link:label xlink:type="resource" xlink:label="label_MinorityInterestAcquiredInBusinessCombination_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MinorityInterestAcquiredInBusinessCombination_2" xml:lang="en-US" id="label_MinorityInterestAcquiredInBusinessCombination_2">Represents the amount paid for acquisition of minority interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestAcquiredInBusinessCombination" xlink:to="label_MinorityInterestAcquiredInBusinessCombination_2" xlink:title="Label : MinorityInterestAcquiredInBusinessCombination to label_MinorityInterestAcquiredInBusinessCombination_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfRemainingVotingEquityInterestsAcquired" xlink:label="PercentageOfRemainingVotingEquityInterestsAcquired" xlink:title="PercentageOfRemainingVotingEquityInterestsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfRemainingVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfRemainingVotingEquityInterestsAcquired" xml:lang="en-US" id="label_PercentageOfRemainingVotingEquityInterestsAcquired">Represents the percentage of remaining voting equity interests acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfRemainingVotingEquityInterestsAcquired" xlink:to="label_PercentageOfRemainingVotingEquityInterestsAcquired" xlink:title="Label : PercentageOfRemainingVotingEquityInterestsAcquired to label_PercentageOfRemainingVotingEquityInterestsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfRemainingVotingEquityInterestsAcquired_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfRemainingVotingEquityInterestsAcquired_1" xml:lang="en-US" id="label_PercentageOfRemainingVotingEquityInterestsAcquired_1">Percentage of remaining interest acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfRemainingVotingEquityInterestsAcquired" xlink:to="label_PercentageOfRemainingVotingEquityInterestsAcquired_1" xlink:title="Label : PercentageOfRemainingVotingEquityInterestsAcquired to label_PercentageOfRemainingVotingEquityInterestsAcquired_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfRemainingVotingEquityInterestsAcquired_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfRemainingVotingEquityInterestsAcquired_2" xml:lang="en-US" id="label_PercentageOfRemainingVotingEquityInterestsAcquired_2">Percentage Of Remaining Voting Equity Interests Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfRemainingVotingEquityInterestsAcquired" xlink:to="label_PercentageOfRemainingVotingEquityInterestsAcquired_2" xlink:title="Label : PercentageOfRemainingVotingEquityInterestsAcquired to label_PercentageOfRemainingVotingEquityInterestsAcquired_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:label="AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:title="AmountPaidForAcquiringRemainingSharesInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination" xml:lang="en-US" id="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination">Represents the amount paid for acquiring remaining equity interests in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:to="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:title="Label : AmountPaidForAcquiringRemainingSharesInBusinessCombination to label_AmountPaidForAcquiringRemainingSharesInBusinessCombination" />
    <link:label xlink:type="resource" xlink:label="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_1" xml:lang="en-US" id="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_1">Amount paid for acquiring remaining shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:to="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_1" xlink:title="Label : AmountPaidForAcquiringRemainingSharesInBusinessCombination to label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_2" xml:lang="en-US" id="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_2">Amount Paid For Acquiring Remaining Shares In Business Combination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountPaidForAcquiringRemainingSharesInBusinessCombination" xlink:to="label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_2" xlink:title="Label : AmountPaidForAcquiringRemainingSharesInBusinessCombination to label_AmountPaidForAcquiringRemainingSharesInBusinessCombination_2" />
    <link:label xlink:type="resource" xlink:label="label_GoodwillRecognisedAsOfAcquisitionDate_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GoodwillRecognisedAsOfAcquisitionDate_3" xml:lang="en-US" id="label_GoodwillRecognisedAsOfAcquisitionDate_3">Goodwill recognised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodwillRecognisedAsOfAcquisitionDate" xlink:to="label_GoodwillRecognisedAsOfAcquisitionDate_3" xlink:title="Label : GoodwillRecognisedAsOfAcquisitionDate to label_GoodwillRecognisedAsOfAcquisitionDate_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:label="VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:title="VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" />
    <link:label xlink:type="resource" xlink:label="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xml:lang="en-US" id="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember">Verde Pinho Fundo De Investimento Em Participacoes Multiestrategia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:to="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:title="Label : VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember to label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" />
    <link:label xlink:type="resource" xlink:label="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_1" xml:lang="en-US" id="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_1">FIP Verde Pinho</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:to="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_1" xlink:title="Label : VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember to label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_1" />
    <link:label xlink:type="resource" xlink:label="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_2" xml:lang="en-US" id="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_2">Represents Verde Pinho Fundo de Investimento em Participa&#xE7;&#xF5;es Multiestrat&#xE9;gia.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" xlink:to="label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_2" xlink:title="Label : VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember to label_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfShareCapitalContributed" xlink:label="PercentageOfShareCapitalContributed" xlink:title="PercentageOfShareCapitalContributed" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfShareCapitalContributed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfShareCapitalContributed" xml:lang="en-US" id="label_PercentageOfShareCapitalContributed">Percentage Of Share Capital Contributed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfShareCapitalContributed" xlink:to="label_PercentageOfShareCapitalContributed" xlink:title="Label : PercentageOfShareCapitalContributed to label_PercentageOfShareCapitalContributed" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfShareCapitalContributed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfShareCapitalContributed_1" xml:lang="en-US" id="label_PercentageOfShareCapitalContributed_1">Percentage of share capital contributed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfShareCapitalContributed" xlink:to="label_PercentageOfShareCapitalContributed_1" xlink:title="Label : PercentageOfShareCapitalContributed to label_PercentageOfShareCapitalContributed_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfShareCapitalContributed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfShareCapitalContributed_2" xml:lang="en-US" id="label_PercentageOfShareCapitalContributed_2">Represents the Percentage of share capital contributed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfShareCapitalContributed" xlink:to="label_PercentageOfShareCapitalContributed_2" xlink:title="Label : PercentageOfShareCapitalContributed to label_PercentageOfShareCapitalContributed_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountOfShareCapitalContributed" xlink:label="AmountOfShareCapitalContributed" xlink:title="AmountOfShareCapitalContributed" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfShareCapitalContributed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfShareCapitalContributed" xml:lang="en-US" id="label_AmountOfShareCapitalContributed">Amount Of Share Capital Contributed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfShareCapitalContributed" xlink:to="label_AmountOfShareCapitalContributed" xlink:title="Label : AmountOfShareCapitalContributed to label_AmountOfShareCapitalContributed" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfShareCapitalContributed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfShareCapitalContributed_1" xml:lang="en-US" id="label_AmountOfShareCapitalContributed_1">Amount of share capital contributed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfShareCapitalContributed" xlink:to="label_AmountOfShareCapitalContributed_1" xlink:title="Label : AmountOfShareCapitalContributed to label_AmountOfShareCapitalContributed_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfShareCapitalContributed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfShareCapitalContributed_2" xml:lang="en-US" id="label_AmountOfShareCapitalContributed_2">Represents the amount of share capital contributed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfShareCapitalContributed" xlink:to="label_AmountOfShareCapitalContributed_2" xlink:title="Label : AmountOfShareCapitalContributed to label_AmountOfShareCapitalContributed_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanInvestimentosEParticipacoesSAMember" xlink:label="CosanInvestimentosEParticipacoesSAMember" xlink:title="CosanInvestimentosEParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentosEParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanInvestimentosEParticipacoesSAMember" xml:lang="en-US" id="label_CosanInvestimentosEParticipacoesSAMember">Cosan Investimentos E Participacoes S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentosEParticipacoesSAMember" xlink:to="label_CosanInvestimentosEParticipacoesSAMember" xlink:title="Label : CosanInvestimentosEParticipacoesSAMember to label_CosanInvestimentosEParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentosEParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanInvestimentosEParticipacoesSAMember_1" xml:lang="en-US" id="label_CosanInvestimentosEParticipacoesSAMember_1">CIP</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentosEParticipacoesSAMember" xlink:to="label_CosanInvestimentosEParticipacoesSAMember_1" xlink:title="Label : CosanInvestimentosEParticipacoesSAMember to label_CosanInvestimentosEParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanInvestimentosEParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanInvestimentosEParticipacoesSAMember_2" xml:lang="en-US" id="label_CosanInvestimentosEParticipacoesSAMember_2">Represents Cosan Investimentos e Participa&#xE7;&#xF5;es S.A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanInvestimentosEParticipacoesSAMember" xlink:to="label_CosanInvestimentosEParticipacoesSAMember_2" xlink:title="Label : CosanInvestimentosEParticipacoesSAMember to label_CosanInvestimentosEParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:label="AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:title="AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" />
    <link:label xlink:type="resource" xlink:label="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xml:lang="en-US" id="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders">Anticipated Payment Of Obligations With Noncontrolling Preferred Shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:to="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:title="Label : AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders to label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" />
    <link:label xlink:type="resource" xlink:label="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_1" xml:lang="en-US" id="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_1">Anticipated payment of obligations with non-controlling preferred shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:to="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_1" xlink:title="Label : AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders to label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_1" />
    <link:label xlink:type="resource" xlink:label="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_2" xml:lang="en-US" id="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_2">Represents the anticipated payment of obligations with non-controlling preferred shareholders.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" xlink:to="label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_2" xlink:title="Label : AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders to label_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesAcquired" xlink:label="NumberOfSharesAcquired" xlink:title="NumberOfSharesAcquired" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesAcquired" xml:lang="en-US" id="label_NumberOfSharesAcquired">Represents the number of shares acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesAcquired" xlink:to="label_NumberOfSharesAcquired" xlink:title="Label : NumberOfSharesAcquired to label_NumberOfSharesAcquired" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesAcquired_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesAcquired_1" xml:lang="en-US" id="label_NumberOfSharesAcquired_1">Number of share acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesAcquired" xlink:to="label_NumberOfSharesAcquired_1" xlink:title="Label : NumberOfSharesAcquired to label_NumberOfSharesAcquired_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesAcquired_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesAcquired_2" xml:lang="en-US" id="label_NumberOfSharesAcquired_2">Number Of Shares Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesAcquired" xlink:to="label_NumberOfSharesAcquired_2" xlink:title="Label : NumberOfSharesAcquired to label_NumberOfSharesAcquired_2" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfVotingEquityInterestsAcquired_3" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_PercentageOfVotingEquityInterestsAcquired_3" xml:lang="en-US" id="label_PercentageOfVotingEquityInterestsAcquired_3">Percentage of share capital acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfVotingEquityInterestsAcquired" xlink:to="label_PercentageOfVotingEquityInterestsAcquired_3" xlink:title="Label : PercentageOfVotingEquityInterestsAcquired to label_PercentageOfVotingEquityInterestsAcquired_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LengthOfDistributionNetworkCoverage" xlink:label="LengthOfDistributionNetworkCoverage" xlink:title="LengthOfDistributionNetworkCoverage" />
    <link:label xlink:type="resource" xlink:label="label_LengthOfDistributionNetworkCoverage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LengthOfDistributionNetworkCoverage" xml:lang="en-US" id="label_LengthOfDistributionNetworkCoverage">Length Of Distribution Network Coverage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LengthOfDistributionNetworkCoverage" xlink:to="label_LengthOfDistributionNetworkCoverage" xlink:title="Label : LengthOfDistributionNetworkCoverage to label_LengthOfDistributionNetworkCoverage" />
    <link:label xlink:type="resource" xlink:label="label_LengthOfDistributionNetworkCoverage_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LengthOfDistributionNetworkCoverage_1" xml:lang="en-US" id="label_LengthOfDistributionNetworkCoverage_1">Length of distribution network (in KM)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LengthOfDistributionNetworkCoverage" xlink:to="label_LengthOfDistributionNetworkCoverage_1" xlink:title="Label : LengthOfDistributionNetworkCoverage to label_LengthOfDistributionNetworkCoverage_1" />
    <link:label xlink:type="resource" xlink:label="label_LengthOfDistributionNetworkCoverage_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LengthOfDistributionNetworkCoverage_2" xml:lang="en-US" id="label_LengthOfDistributionNetworkCoverage_2">Represents the length of distribution network.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LengthOfDistributionNetworkCoverage" xlink:to="label_LengthOfDistributionNetworkCoverage_2" xlink:title="Label : LengthOfDistributionNetworkCoverage to label_LengthOfDistributionNetworkCoverage_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfCustomersServed" xlink:label="NumberOfCustomersServed" xlink:title="NumberOfCustomersServed" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCustomersServed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfCustomersServed" xml:lang="en-US" id="label_NumberOfCustomersServed">Number Of Customers Served</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCustomersServed" xlink:to="label_NumberOfCustomersServed" xlink:title="Label : NumberOfCustomersServed to label_NumberOfCustomersServed" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCustomersServed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfCustomersServed_1" xml:lang="en-US" id="label_NumberOfCustomersServed_1">Number of customers served</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCustomersServed" xlink:to="label_NumberOfCustomersServed_1" xlink:title="Label : NumberOfCustomersServed to label_NumberOfCustomersServed_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCustomersServed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfCustomersServed_2" xml:lang="en-US" id="label_NumberOfCustomersServed_2">Represents the number of customers served.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCustomersServed" xlink:to="label_NumberOfCustomersServed_2" xlink:title="Label : NumberOfCustomersServed to label_NumberOfCustomersServed_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfMunicipalitiesServed" xlink:label="NumberOfMunicipalitiesServed" xlink:title="NumberOfMunicipalitiesServed" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMunicipalitiesServed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfMunicipalitiesServed" xml:lang="en-US" id="label_NumberOfMunicipalitiesServed">Number of Municipalities Served</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMunicipalitiesServed" xlink:to="label_NumberOfMunicipalitiesServed" xlink:title="Label : NumberOfMunicipalitiesServed to label_NumberOfMunicipalitiesServed" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMunicipalitiesServed_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfMunicipalitiesServed_1" xml:lang="en-US" id="label_NumberOfMunicipalitiesServed_1">Number of municipalities served</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMunicipalitiesServed" xlink:to="label_NumberOfMunicipalitiesServed_1" xlink:title="Label : NumberOfMunicipalitiesServed to label_NumberOfMunicipalitiesServed_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMunicipalitiesServed_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfMunicipalitiesServed_2" xml:lang="en-US" id="label_NumberOfMunicipalitiesServed_2">Represents the number of municipalities served.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMunicipalitiesServed" xlink:to="label_NumberOfMunicipalitiesServed_2" xlink:title="Label : NumberOfMunicipalitiesServed to label_NumberOfMunicipalitiesServed_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DistributedVolumeOfNaturalGas" xlink:label="DistributedVolumeOfNaturalGas" xlink:title="DistributedVolumeOfNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_DistributedVolumeOfNaturalGas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DistributedVolumeOfNaturalGas" xml:lang="en-US" id="label_DistributedVolumeOfNaturalGas">Distributed Volume Of Natural Gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributedVolumeOfNaturalGas" xlink:to="label_DistributedVolumeOfNaturalGas" xlink:title="Label : DistributedVolumeOfNaturalGas to label_DistributedVolumeOfNaturalGas" />
    <link:label xlink:type="resource" xlink:label="label_DistributedVolumeOfNaturalGas_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DistributedVolumeOfNaturalGas_1" xml:lang="en-US" id="label_DistributedVolumeOfNaturalGas_1">Distributed volume of natural gas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributedVolumeOfNaturalGas" xlink:to="label_DistributedVolumeOfNaturalGas_1" xlink:title="Label : DistributedVolumeOfNaturalGas to label_DistributedVolumeOfNaturalGas_1" />
    <link:label xlink:type="resource" xlink:label="label_DistributedVolumeOfNaturalGas_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DistributedVolumeOfNaturalGas_2" xml:lang="en-US" id="label_DistributedVolumeOfNaturalGas_2">Represents the distributed volume of natural gas.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributedVolumeOfNaturalGas" xlink:to="label_DistributedVolumeOfNaturalGas_2" xlink:title="Label : DistributedVolumeOfNaturalGas to label_DistributedVolumeOfNaturalGas_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:label="PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:title="PercentageOfMinorityInterestRecognisedOnAcquisition" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfMinorityInterestRecognisedOnAcquisition" xml:lang="en-US" id="label_PercentageOfMinorityInterestRecognisedOnAcquisition">Percentage Of Minority Interest Recognised On Acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:to="label_PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:title="Label : PercentageOfMinorityInterestRecognisedOnAcquisition to label_PercentageOfMinorityInterestRecognisedOnAcquisition" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfMinorityInterestRecognisedOnAcquisition_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfMinorityInterestRecognisedOnAcquisition_1" xml:lang="en-US" id="label_PercentageOfMinorityInterestRecognisedOnAcquisition_1">Percentage of minority interest recognised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:to="label_PercentageOfMinorityInterestRecognisedOnAcquisition_1" xlink:title="Label : PercentageOfMinorityInterestRecognisedOnAcquisition to label_PercentageOfMinorityInterestRecognisedOnAcquisition_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfMinorityInterestRecognisedOnAcquisition_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfMinorityInterestRecognisedOnAcquisition_2" xml:lang="en-US" id="label_PercentageOfMinorityInterestRecognisedOnAcquisition_2">Represents the percentage of minority interest recognised on acquisition date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfMinorityInterestRecognisedOnAcquisition" xlink:to="label_PercentageOfMinorityInterestRecognisedOnAcquisition_2" xlink:title="Label : PercentageOfMinorityInterestRecognisedOnAcquisition to label_PercentageOfMinorityInterestRecognisedOnAcquisition_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompassUmParticipacoesSAMember" xlink:label="CompassUmParticipacoesSAMember" xlink:title="CompassUmParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassUmParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompassUmParticipacoesSAMember" xml:lang="en-US" id="label_CompassUmParticipacoesSAMember">Compass Um Participacoes S A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassUmParticipacoesSAMember" xlink:to="label_CompassUmParticipacoesSAMember" xlink:title="Label : CompassUmParticipacoesSAMember to label_CompassUmParticipacoesSAMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassUmParticipacoesSAMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompassUmParticipacoesSAMember_1" xml:lang="en-US" id="label_CompassUmParticipacoesSAMember_1">Compass Um Participacoes SA</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassUmParticipacoesSAMember" xlink:to="label_CompassUmParticipacoesSAMember_1" xlink:title="Label : CompassUmParticipacoesSAMember to label_CompassUmParticipacoesSAMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompassUmParticipacoesSAMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompassUmParticipacoesSAMember_2" xml:lang="en-US" id="label_CompassUmParticipacoesSAMember_2">Represents Compass Um Participacoes SA.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassUmParticipacoesSAMember" xlink:to="label_CompassUmParticipacoesSAMember_2" xlink:title="Label : CompassUmParticipacoesSAMember to label_CompassUmParticipacoesSAMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:label="CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:title="CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xml:lang="en-US" id="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember">Companhia De Gas Do Estado Do Rio Grande Do Sul [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:to="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:title="Label : CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember to label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_1" xml:lang="en-US" id="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_1">Sulg&#xE1;s</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:to="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_1" xlink:title="Label : CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember to label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_2" xml:lang="en-US" id="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_2">Represents the Companhia de G&#xE1;s do Estado do Rio Grande do Sul.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" xlink:to="label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_2" xlink:title="Label : CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember to label_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember_2" />
    <link:label xlink:type="resource" xlink:label="label_BankCertificateOfDepositsMember_3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BankCertificateOfDepositsMember_3" xml:lang="en-US" id="label_BankCertificateOfDepositsMember_3">Bank certificate of deposits.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BankCertificateOfDepositsMember" xlink:to="label_BankCertificateOfDepositsMember_3" xlink:title="Label : BankCertificateOfDepositsMember to label_BankCertificateOfDepositsMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BeforeReorganizationMember" xlink:label="BeforeReorganizationMember" xlink:title="BeforeReorganizationMember" />
    <link:label xlink:type="resource" xlink:label="label_BeforeReorganizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BeforeReorganizationMember" xml:lang="en-US" id="label_BeforeReorganizationMember">Before Reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BeforeReorganizationMember" xlink:to="label_BeforeReorganizationMember" xlink:title="Label : BeforeReorganizationMember to label_BeforeReorganizationMember" />
    <link:label xlink:type="resource" xlink:label="label_BeforeReorganizationMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BeforeReorganizationMember_1" xml:lang="en-US" id="label_BeforeReorganizationMember_1">Represents information pertaining to scenario before reorganization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BeforeReorganizationMember" xlink:to="label_BeforeReorganizationMember_1" xlink:title="Label : BeforeReorganizationMember to label_BeforeReorganizationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BeforeReorganizationMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BeforeReorganizationMember_2" xml:lang="en-US" id="label_BeforeReorganizationMember_2">Before Reorganization [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BeforeReorganizationMember" xlink:to="label_BeforeReorganizationMember_2" xlink:title="Label : BeforeReorganizationMember to label_BeforeReorganizationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReorganizationMember" xlink:label="ReorganizationMember" xlink:title="ReorganizationMember" />
    <link:label xlink:type="resource" xlink:label="label_ReorganizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReorganizationMember" xml:lang="en-US" id="label_ReorganizationMember">Reorganization [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReorganizationMember" xlink:to="label_ReorganizationMember" xlink:title="Label : ReorganizationMember to label_ReorganizationMember" />
    <link:label xlink:type="resource" xlink:label="label_ReorganizationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReorganizationMember_1" xml:lang="en-US" id="label_ReorganizationMember_1">Reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReorganizationMember" xlink:to="label_ReorganizationMember_1" xlink:title="Label : ReorganizationMember to label_ReorganizationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ReorganizationMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReorganizationMember_2" xml:lang="en-US" id="label_ReorganizationMember_2">Represents information pertaining to reorganization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReorganizationMember" xlink:to="label_ReorganizationMember_2" xlink:title="Label : ReorganizationMember to label_ReorganizationMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:label="IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:title="IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xml:lang="en-US" id="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization">Corporate reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:to="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:title="Label : IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization to label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_1" xml:lang="en-US" id="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_1">Increase (Decrease) in Investments in Joint Ventures Due to Corporate Reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:to="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_1" xlink:title="Label : IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization to label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_2" xml:lang="en-US" id="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_2">Represents the increase (decrease) in investment in joint ventures due to corporate reorganization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" xlink:to="label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_2" xlink:title="Label : IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization to label_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:label="DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:title="DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xml:lang="en-US" id="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory">Summary of gains and losses recognized in income under investment in joint venture</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:to="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:title="Label : DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory to label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_1" xml:lang="en-US" id="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_1">Tabular disclosure of gains and losses recognized in income under investment in joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:to="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_1" xlink:title="Label : DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory to label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_2" xml:lang="en-US" id="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_2">Disclosure of Gains and Losses Recognized in Income under Investment in Joint Ventures Explanatory</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" xlink:to="label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_2" xlink:title="Label : DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory to label_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory_2" />
    <link:label xlink:type="resource" xlink:label="label_BiosevMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BiosevMember_1" xml:lang="en-US" id="label_BiosevMember_1">Represents information pertaining to Biosev.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiosevMember" xlink:to="label_BiosevMember_1" xlink:title="Label : BiosevMember to label_BiosevMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BiosevMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BiosevMember_2" xml:lang="en-US" id="label_BiosevMember_2">Biosev [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BiosevMember" xlink:to="label_BiosevMember_2" xlink:title="Label : BiosevMember to label_BiosevMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ReductionOnPreviouslyHeldInterest" xlink:label="ReductionOnPreviouslyHeldInterest" xlink:title="ReductionOnPreviouslyHeldInterest" />
    <link:label xlink:type="resource" xlink:label="label_ReductionOnPreviouslyHeldInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ReductionOnPreviouslyHeldInterest" xml:lang="en-US" id="label_ReductionOnPreviouslyHeldInterest">Reduction on Previously Held Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReductionOnPreviouslyHeldInterest" xlink:to="label_ReductionOnPreviouslyHeldInterest" xlink:title="Label : ReductionOnPreviouslyHeldInterest to label_ReductionOnPreviouslyHeldInterest" />
    <link:label xlink:type="resource" xlink:label="label_ReductionOnPreviouslyHeldInterest_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ReductionOnPreviouslyHeldInterest_1" xml:lang="en-US" id="label_ReductionOnPreviouslyHeldInterest_1">Represents the reduction on previously held interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReductionOnPreviouslyHeldInterest" xlink:to="label_ReductionOnPreviouslyHeldInterest_1" xlink:title="Label : ReductionOnPreviouslyHeldInterest to label_ReductionOnPreviouslyHeldInterest_1" />
    <link:label xlink:type="resource" xlink:label="label_ReductionOnPreviouslyHeldInterest_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ReductionOnPreviouslyHeldInterest_2" xml:lang="en-US" id="label_ReductionOnPreviouslyHeldInterest_2">Reduction on previously held interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReductionOnPreviouslyHeldInterest" xlink:to="label_ReductionOnPreviouslyHeldInterest_2" xlink:title="Label : ReductionOnPreviouslyHeldInterest to label_ReductionOnPreviouslyHeldInterest_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SubscribedCashInterestAtIPO" xlink:label="SubscribedCashInterestAtIPO" xlink:title="SubscribedCashInterestAtIPO" />
    <link:label xlink:type="resource" xlink:label="label_SubscribedCashInterestAtIPO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SubscribedCashInterestAtIPO" xml:lang="en-US" id="label_SubscribedCashInterestAtIPO">Subscribed Cash Interest at IPO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscribedCashInterestAtIPO" xlink:to="label_SubscribedCashInterestAtIPO" xlink:title="Label : SubscribedCashInterestAtIPO to label_SubscribedCashInterestAtIPO" />
    <link:label xlink:type="resource" xlink:label="label_SubscribedCashInterestAtIPO_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SubscribedCashInterestAtIPO_1" xml:lang="en-US" id="label_SubscribedCashInterestAtIPO_1">Represents the subscribed cash interest at the IPO.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscribedCashInterestAtIPO" xlink:to="label_SubscribedCashInterestAtIPO_1" xlink:title="Label : SubscribedCashInterestAtIPO to label_SubscribedCashInterestAtIPO_1" />
    <link:label xlink:type="resource" xlink:label="label_SubscribedCashInterestAtIPO_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SubscribedCashInterestAtIPO_2" xml:lang="en-US" id="label_SubscribedCashInterestAtIPO_2">Increase in investment due to cash contribution by non-controlling shareholders in the IPO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubscribedCashInterestAtIPO" xlink:to="label_SubscribedCashInterestAtIPO_2" xlink:title="Label : SubscribedCashInterestAtIPO to label_SubscribedCashInterestAtIPO_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ExerciseOfSubscriptionBonus" xlink:label="ExerciseOfSubscriptionBonus" xlink:title="ExerciseOfSubscriptionBonus" />
    <link:label xlink:type="resource" xlink:label="label_ExerciseOfSubscriptionBonus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExerciseOfSubscriptionBonus" xml:lang="en-US" id="label_ExerciseOfSubscriptionBonus">Exercise of Subscription Bonus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExerciseOfSubscriptionBonus" xlink:to="label_ExerciseOfSubscriptionBonus" xlink:title="Label : ExerciseOfSubscriptionBonus to label_ExerciseOfSubscriptionBonus" />
    <link:label xlink:type="resource" xlink:label="label_ExerciseOfSubscriptionBonus_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExerciseOfSubscriptionBonus_1" xml:lang="en-US" id="label_ExerciseOfSubscriptionBonus_1">Exercise of subscription bonus - H&#xE9;dera</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExerciseOfSubscriptionBonus" xlink:to="label_ExerciseOfSubscriptionBonus_1" xlink:title="Label : ExerciseOfSubscriptionBonus to label_ExerciseOfSubscriptionBonus_1" />
    <link:label xlink:type="resource" xlink:label="label_ExerciseOfSubscriptionBonus_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ExerciseOfSubscriptionBonus_2" xml:lang="en-US" id="label_ExerciseOfSubscriptionBonus_2">Represents the exercise of subscription bonus.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExerciseOfSubscriptionBonus" xlink:to="label_ExerciseOfSubscriptionBonus_2" xlink:title="Label : ExerciseOfSubscriptionBonus to label_ExerciseOfSubscriptionBonus_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherComprehensiveIncomeReclassification" xlink:label="OtherComprehensiveIncomeReclassification" xlink:title="OtherComprehensiveIncomeReclassification" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeReclassification" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherComprehensiveIncomeReclassification" xml:lang="en-US" id="label_OtherComprehensiveIncomeReclassification">Other Comprehensive Income Reclassification</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeReclassification" xlink:to="label_OtherComprehensiveIncomeReclassification" xlink:title="Label : OtherComprehensiveIncomeReclassification to label_OtherComprehensiveIncomeReclassification" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeReclassification_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_OtherComprehensiveIncomeReclassification_1" xml:lang="en-US" id="label_OtherComprehensiveIncomeReclassification_1">Other comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeReclassification" xlink:to="label_OtherComprehensiveIncomeReclassification_1" xlink:title="Label : OtherComprehensiveIncomeReclassification to label_OtherComprehensiveIncomeReclassification_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherComprehensiveIncomeReclassification_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherComprehensiveIncomeReclassification_2" xml:lang="en-US" id="label_OtherComprehensiveIncomeReclassification_2">Represents the reclassificationunder other comprehensive income as part of the partial disposal.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherComprehensiveIncomeReclassification" xlink:to="label_OtherComprehensiveIncomeReclassification_2" xlink:title="Label : OtherComprehensiveIncomeReclassification to label_OtherComprehensiveIncomeReclassification_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_GainOnDilution" xlink:label="GainOnDilution" xlink:title="GainOnDilution" />
    <link:label xlink:type="resource" xlink:label="label_GainOnDilution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainOnDilution" xml:lang="en-US" id="label_GainOnDilution">Gain on Dilution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainOnDilution" xlink:to="label_GainOnDilution" xlink:title="Label : GainOnDilution to label_GainOnDilution" />
    <link:label xlink:type="resource" xlink:label="label_GainOnDilution_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GainOnDilution_1" xml:lang="en-US" id="label_GainOnDilution_1">Gain on dilution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainOnDilution" xlink:to="label_GainOnDilution_1" xlink:title="Label : GainOnDilution to label_GainOnDilution_1" />
    <link:label xlink:type="resource" xlink:label="label_GainOnDilution_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_GainOnDilution_2" xml:lang="en-US" id="label_GainOnDilution_2">Represents the gain on dilution.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GainOnDilution" xlink:to="label_GainOnDilution_2" xlink:title="Label : GainOnDilution to label_GainOnDilution_2" />
    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BasicEarningsLossPerShare_2" xml:lang="en-US" id="label_BasicEarningsLossPerShare_2">Basic earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShare" xlink:to="label_BasicEarningsLossPerShare_2" xlink:title="Label : BasicEarningsLossPerShare to label_BasicEarningsLossPerShare_2" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DilutedEarningsLossPerShare_2" xml:lang="en-US" id="label_DilutedEarningsLossPerShare_2">Diluted earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShare" xlink:to="label_DilutedEarningsLossPerShare_2" xlink:title="Label : DilutedEarningsLossPerShare to label_DilutedEarningsLossPerShare_2" />
    <link:label xlink:type="resource" xlink:label="label_BasicEarningsLossPerShareFromContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BasicEarningsLossPerShareFromContinuingOperations_2" xml:lang="en-US" id="label_BasicEarningsLossPerShareFromContinuingOperations_2">Basic earnings per share from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BasicEarningsLossPerShareFromContinuingOperations" xlink:to="label_BasicEarningsLossPerShareFromContinuingOperations_2" xlink:title="Label : BasicEarningsLossPerShareFromContinuingOperations to label_BasicEarningsLossPerShareFromContinuingOperations_2" />
    <link:label xlink:type="resource" xlink:label="label_DilutedEarningsLossPerShareFromContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DilutedEarningsLossPerShareFromContinuingOperations_2" xml:lang="en-US" id="label_DilutedEarningsLossPerShareFromContinuingOperations_2">Diluted earnings per share from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="label_DilutedEarningsLossPerShareFromContinuingOperations_2" xlink:title="Label : DilutedEarningsLossPerShareFromContinuingOperations to label_DilutedEarningsLossPerShareFromContinuingOperations_2" />
    <link:label xlink:type="resource" xlink:label="label_FinancialAssetsAtAmortisedCostCategoryMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinancialAssetsAtAmortisedCostCategoryMember_2" xml:lang="en-US" id="label_FinancialAssetsAtAmortisedCostCategoryMember_2">Amortized cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialAssetsAtAmortisedCostCategoryMember" xlink:to="label_FinancialAssetsAtAmortisedCostCategoryMember_2" xlink:title="Label : FinancialAssetsAtAmortisedCostCategoryMember to label_FinancialAssetsAtAmortisedCostCategoryMember_2" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_2" xml:lang="en-US" id="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_2">Amortized cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:to="label_FinancialLiabilitiesAtAmortisedCostCategoryMember_2" xlink:title="Label : FinancialLiabilitiesAtAmortisedCostCategoryMember to label_FinancialLiabilitiesAtAmortisedCostCategoryMember_2" />
    <link:label xlink:type="resource" xlink:label="label_TaxInstallmentsREFISMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TaxInstallmentsREFISMember_3" xml:lang="en-US" id="label_TaxInstallmentsREFISMember_3">Tax installments - REFIS [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxInstallmentsREFISMember" xlink:to="label_TaxInstallmentsREFISMember_3" xlink:title="Label : TaxInstallmentsREFISMember to label_TaxInstallmentsREFISMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PredecessorAdjustmentsMember" xlink:label="PredecessorAdjustmentsMember" xlink:title="PredecessorAdjustmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_PredecessorAdjustmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PredecessorAdjustmentsMember" xml:lang="en-US" id="label_PredecessorAdjustmentsMember">Predecessor adjustments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PredecessorAdjustmentsMember" xlink:to="label_PredecessorAdjustmentsMember" xlink:title="Label : PredecessorAdjustmentsMember to label_PredecessorAdjustmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_PredecessorAdjustmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PredecessorAdjustmentsMember_1" xml:lang="en-US" id="label_PredecessorAdjustmentsMember_1">This member stands for the information pertaining to predecessor adjustments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PredecessorAdjustmentsMember" xlink:to="label_PredecessorAdjustmentsMember_1" xlink:title="Label : PredecessorAdjustmentsMember to label_PredecessorAdjustmentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PredecessorAdjustmentsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PredecessorAdjustmentsMember_2" xml:lang="en-US" id="label_PredecessorAdjustmentsMember_2">Predecessor adjustments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PredecessorAdjustmentsMember" xlink:to="label_PredecessorAdjustmentsMember_2" xlink:title="Label : PredecessorAdjustmentsMember to label_PredecessorAdjustmentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CumulativeEffectAtDateOfInitialApplicationAxis" xlink:label="CumulativeEffectAtDateOfInitialApplicationAxis" xlink:title="CumulativeEffectAtDateOfInitialApplicationAxis" />
    <link:label xlink:type="resource" xlink:label="label_CumulativeEffectAtDateOfInitialApplicationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CumulativeEffectAtDateOfInitialApplicationAxis" xml:lang="en-US" id="label_CumulativeEffectAtDateOfInitialApplicationAxis">Cumulative effect at date of initial application [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativeEffectAtDateOfInitialApplicationAxis" xlink:to="label_CumulativeEffectAtDateOfInitialApplicationAxis" xlink:title="Label : CumulativeEffectAtDateOfInitialApplicationAxis to label_CumulativeEffectAtDateOfInitialApplicationAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:label="OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:title="OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" />
    <link:label xlink:type="resource" xlink:label="label_OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xml:lang="en-US" id="label_OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember">Opening balance before adjustment, cumulative effect at date of initial application [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:to="label_OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:title="Label : OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember to label_OpeningBalanceBeforeAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xlink:label="IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xlink:title="IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xml:lang="en-US" id="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember">Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xlink:to="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xlink:title="Label : IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember to label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:label="OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:title="OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" />
    <link:label xlink:type="resource" xlink:label="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xml:lang="en-US" id="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember">Opening balance after adjustment, cumulative effect at date of initial application [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:to="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:title="Label : OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember to label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember_1" xml:lang="en-US" id="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember_1">Adjustment on initial application of IFRS 16 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember" xlink:to="label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember_1" xlink:title="Label : IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember to label_IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember_1" xml:lang="en-US" id="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember_1">Opening balance after adjustment, cumulative effect at date of initial application [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember" xlink:to="label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember_1" xlink:title="Label : OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember to label_OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember_1" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivables_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_TradeReceivables_3" xml:lang="en-US" id="label_TradeReceivables_3">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivables" xlink:to="label_TradeReceivables_3" xlink:title="Label : TradeReceivables to label_TradeReceivables_3" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OtherFinancialAssets_2" xml:lang="en-US" id="label_OtherFinancialAssets_2">Other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssets" xlink:to="label_OtherFinancialAssets_2" xlink:title="Label : OtherFinancialAssets to label_OtherFinancialAssets_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonCurrentSectorFinancialAssets" xlink:label="NonCurrentSectorFinancialAssets" xlink:title="NonCurrentSectorFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentSectorFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonCurrentSectorFinancialAssets" xml:lang="en-US" id="label_NonCurrentSectorFinancialAssets">Non Current Sector Financial Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentSectorFinancialAssets" xlink:to="label_NonCurrentSectorFinancialAssets" xlink:title="Label : NonCurrentSectorFinancialAssets to label_NonCurrentSectorFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentSectorFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonCurrentSectorFinancialAssets_1" xml:lang="en-US" id="label_NonCurrentSectorFinancialAssets_1">Sector financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentSectorFinancialAssets" xlink:to="label_NonCurrentSectorFinancialAssets_1" xlink:title="Label : NonCurrentSectorFinancialAssets to label_NonCurrentSectorFinancialAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_NonCurrentSectorFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonCurrentSectorFinancialAssets_2" xml:lang="en-US" id="label_NonCurrentSectorFinancialAssets_2">The amount of non-current portion of sector financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCurrentSectorFinancialAssets" xlink:to="label_NonCurrentSectorFinancialAssets_2" xlink:title="Label : NonCurrentSectorFinancialAssets to label_NonCurrentSectorFinancialAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:label="NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:title="NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xml:lang="en-US" id="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities">Non-current deferred income including non-current contract liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:to="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:title="Label : NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities to label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities_1" xml:lang="en-US" id="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities_1">Deferred revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities" xlink:to="label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities_1" xlink:title="Label : NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities to label_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TreasuryShares" xlink:label="TreasuryShares" xlink:title="TreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TreasuryShares" xml:lang="en-US" id="label_TreasuryShares">Treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryShares" xlink:to="label_TreasuryShares" xlink:title="Label : TreasuryShares to label_TreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_TreasuryShares_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TreasuryShares_1" xml:lang="en-US" id="label_TreasuryShares_1">Treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TreasuryShares" xlink:to="label_TreasuryShares_1" xlink:title="Label : TreasuryShares to label_TreasuryShares_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LongtermDepositsNotClassifiedAsCashEquivalents" xlink:label="LongtermDepositsNotClassifiedAsCashEquivalents" xlink:title="LongtermDepositsNotClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_LongtermDepositsNotClassifiedAsCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongtermDepositsNotClassifiedAsCashEquivalents" xml:lang="en-US" id="label_LongtermDepositsNotClassifiedAsCashEquivalents">Marketable securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDepositsNotClassifiedAsCashEquivalents" xlink:to="label_LongtermDepositsNotClassifiedAsCashEquivalents" xlink:title="Label : LongtermDepositsNotClassifiedAsCashEquivalents to label_LongtermDepositsNotClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_LongtermDepositsNotClassifiedAsCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongtermDepositsNotClassifiedAsCashEquivalents_1" xml:lang="en-US" id="label_LongtermDepositsNotClassifiedAsCashEquivalents_1">Long term Deposits Not Classified As Cash Equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDepositsNotClassifiedAsCashEquivalents" xlink:to="label_LongtermDepositsNotClassifiedAsCashEquivalents_1" xlink:title="Label : LongtermDepositsNotClassifiedAsCashEquivalents to label_LongtermDepositsNotClassifiedAsCashEquivalents_1" />
    <link:label xlink:type="resource" xlink:label="label_LongtermDepositsNotClassifiedAsCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LongtermDepositsNotClassifiedAsCashEquivalents_2" xml:lang="en-US" id="label_LongtermDepositsNotClassifiedAsCashEquivalents_2">The amount of non-current portion of deposits not classified as cash equivalents held by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDepositsNotClassifiedAsCashEquivalents" xlink:to="label_LongtermDepositsNotClassifiedAsCashEquivalents_2" xlink:title="Label : LongtermDepositsNotClassifiedAsCashEquivalents to label_LongtermDepositsNotClassifiedAsCashEquivalents_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="StatementOfComprehensiveIncomeAbstract" xlink:title="StatementOfComprehensiveIncomeAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfComprehensiveIncomeAbstract" xml:lang="en-US" id="label_StatementOfComprehensiveIncomeAbstract">Consolidated statement of profit or loss and other comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfComprehensiveIncomeAbstract" xlink:to="label_StatementOfComprehensiveIncomeAbstract" xlink:title="Label : StatementOfComprehensiveIncomeAbstract to label_StatementOfComprehensiveIncomeAbstract" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EarningsLossPerShareFromContinuingOperationsAbstract" xlink:label="EarningsLossPerShareFromContinuingOperationsAbstract" xlink:title="EarningsLossPerShareFromContinuingOperationsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsLossPerShareFromContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EarningsLossPerShareFromContinuingOperationsAbstract" xml:lang="en-US" id="label_EarningsLossPerShareFromContinuingOperationsAbstract">Earnings Loss Per Share from Continuing Operations [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsLossPerShareFromContinuingOperationsAbstract" xlink:to="label_EarningsLossPerShareFromContinuingOperationsAbstract" xlink:title="Label : EarningsLossPerShareFromContinuingOperationsAbstract to label_EarningsLossPerShareFromContinuingOperationsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_EarningsLossPerShareFromContinuingOperationsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EarningsLossPerShareFromContinuingOperationsAbstract_1" xml:lang="en-US" id="label_EarningsLossPerShareFromContinuingOperationsAbstract_1">Earnings per share from continuing operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsLossPerShareFromContinuingOperationsAbstract" xlink:to="label_EarningsLossPerShareFromContinuingOperationsAbstract_1" xlink:title="Label : EarningsLossPerShareFromContinuingOperationsAbstract to label_EarningsLossPerShareFromContinuingOperationsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:label="AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:title="AdjustmentsForLossGainOnEnergyDerivativeOperations" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForLossGainOnEnergyDerivativeOperations" xml:lang="en-US" id="label_AdjustmentsForLossGainOnEnergyDerivativeOperations">Adjustments for Loss Gain on Energy Derivative Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:to="label_AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:title="Label : AdjustmentsForLossGainOnEnergyDerivativeOperations to label_AdjustmentsForLossGainOnEnergyDerivativeOperations" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_1" xml:lang="en-US" id="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_1">Loss in energy derivative operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:to="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_1" xlink:title="Label : AdjustmentsForLossGainOnEnergyDerivativeOperations to label_AdjustmentsForLossGainOnEnergyDerivativeOperations_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_2" xml:lang="en-US" id="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_2">Adjustments for losses (gains) arising from energy derivative operations to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForLossGainOnEnergyDerivativeOperations" xlink:to="label_AdjustmentsForLossGainOnEnergyDerivativeOperations_2" xlink:title="Label : AdjustmentsForLossGainOnEnergyDerivativeOperations to label_AdjustmentsForLossGainOnEnergyDerivativeOperations_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForGainOnBargainPurchase" xlink:label="AdjustmentsForGainOnBargainPurchase" xlink:title="AdjustmentsForGainOnBargainPurchase" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainOnBargainPurchase" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForGainOnBargainPurchase" xml:lang="en-US" id="label_AdjustmentsForGainOnBargainPurchase">Adjustments for Gain on Bargain Purchase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainOnBargainPurchase" xlink:to="label_AdjustmentsForGainOnBargainPurchase" xlink:title="Label : AdjustmentsForGainOnBargainPurchase to label_AdjustmentsForGainOnBargainPurchase" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainOnBargainPurchase_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdjustmentsForGainOnBargainPurchase_1" xml:lang="en-US" id="label_AdjustmentsForGainOnBargainPurchase_1">Gain in a bargain purchase</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainOnBargainPurchase" xlink:to="label_AdjustmentsForGainOnBargainPurchase_1" xlink:title="Label : AdjustmentsForGainOnBargainPurchase to label_AdjustmentsForGainOnBargainPurchase_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainOnBargainPurchase_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForGainOnBargainPurchase_2" xml:lang="en-US" id="label_AdjustmentsForGainOnBargainPurchase_2">Adjustments for gain on bargain purchase to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainOnBargainPurchase" xlink:to="label_AdjustmentsForGainOnBargainPurchase_2" xlink:title="Label : AdjustmentsForGainOnBargainPurchase to label_AdjustmentsForGainOnBargainPurchase_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:label="AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:title="AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xml:lang="en-US" id="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty">Adjustments for gains (losses) on fair value adjustment, investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:to="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:title="Label : AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty to label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty_1" xml:lang="en-US" id="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty_1">Change in fair value of investment property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty" xlink:to="label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty_1" xlink:title="Label : AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty to label_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:label="AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:title="AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired">Adjustments for Increase Decrease in Tax Losses Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:to="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:title="Label : AdjustmentsForIncreaseDecreaseInTaxLossesAcquired to label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_1" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_1">Tax losses acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:to="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_1" xlink:title="Label : AdjustmentsForIncreaseDecreaseInTaxLossesAcquired to label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_1" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_2" xml:lang="en-US" id="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_2">Adjustments for increase (decrease) in tax losses acquired to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" xlink:to="label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_2" xlink:title="Label : AdjustmentsForIncreaseDecreaseInTaxLossesAcquired to label_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:label="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:title="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xml:lang="en-US" id="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities">Other inflows (outflows) of cash, classified as financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:to="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:title="Label : OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities to label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_1" xml:lang="en-US" id="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:to="label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_1" xlink:title="Label : OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities to label_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestPayable" xlink:label="InterestPayable" xlink:title="InterestPayable" />
    <link:label xlink:type="resource" xlink:label="label_InterestPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPayable" xml:lang="en-US" id="label_InterestPayable">Interest payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPayable" xlink:to="label_InterestPayable" xlink:title="Label : InterestPayable to label_InterestPayable" />
    <link:label xlink:type="resource" xlink:label="label_InterestPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestPayable_1" xml:lang="en-US" id="label_InterestPayable_1">Recognition of interest on shareholder&#x2019;s equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestPayable" xlink:to="label_InterestPayable_1" xlink:title="Label : InterestPayable to label_InterestPayable_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SaleOrIssueOfTreasuryShares" xlink:label="SaleOrIssueOfTreasuryShares" xlink:title="SaleOrIssueOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_SaleOrIssueOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SaleOrIssueOfTreasuryShares" xml:lang="en-US" id="label_SaleOrIssueOfTreasuryShares">Sale or issue of treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOrIssueOfTreasuryShares" xlink:to="label_SaleOrIssueOfTreasuryShares" xlink:title="Label : SaleOrIssueOfTreasuryShares to label_SaleOrIssueOfTreasuryShares" />
    <link:label xlink:type="resource" xlink:label="label_SaleOrIssueOfTreasuryShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SaleOrIssueOfTreasuryShares_1" xml:lang="en-US" id="label_SaleOrIssueOfTreasuryShares_1">Disposal of treasury shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleOrIssueOfTreasuryShares" xlink:to="label_SaleOrIssueOfTreasuryShares_1" xlink:title="Label : SaleOrIssueOfTreasuryShares to label_SaleOrIssueOfTreasuryShares_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:label="NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:title="NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" />
    <link:label xlink:type="resource" xlink:label="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xml:lang="en-US" id="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear">Non Cash Payment of Annual Adjustment for Previous Fiscal Year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:to="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:title="Label : NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear to label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" />
    <link:label xlink:type="resource" xlink:label="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_1" xml:lang="en-US" id="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_1">Non-cash payment of annual adjustment for previous fiscal year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:to="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_1" xlink:title="Label : NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear to label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_1" />
    <link:label xlink:type="resource" xlink:label="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_2" xml:lang="en-US" id="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_2">The amount of non-cash payment of annual adjustment for previous fiscal year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" xlink:to="label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_2" xlink:title="Label : NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear to label_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AllOtherSegmentsMember" xlink:label="AllOtherSegmentsMember" xlink:title="AllOtherSegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_AllOtherSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AllOtherSegmentsMember" xml:lang="en-US" id="label_AllOtherSegmentsMember">All other segments [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllOtherSegmentsMember" xlink:to="label_AllOtherSegmentsMember" xlink:title="Label : AllOtherSegmentsMember to label_AllOtherSegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_AllOtherSegmentsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AllOtherSegmentsMember_1" xml:lang="en-US" id="label_AllOtherSegmentsMember_1">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AllOtherSegmentsMember" xlink:to="label_AllOtherSegmentsMember_1" xlink:title="Label : AllOtherSegmentsMember to label_AllOtherSegmentsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:label="FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:title="FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" />
    <link:label xlink:type="resource" xlink:label="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xml:lang="en-US" id="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount">Fines and penalties rate on tax on circulation of goods and services amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:to="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:title="Label : FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount to label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" />
    <link:label xlink:type="resource" xlink:label="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_1" xml:lang="en-US" id="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_1">The percentage of fine for cacultion of tax on circulation of goods and services fines and penalties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:to="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_1" xlink:title="Label : FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount to label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_1" />
    <link:label xlink:type="resource" xlink:label="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_2" xml:lang="en-US" id="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_2">Percentage of fines on ICMS tax amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" xlink:to="label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_2" xlink:title="Label : FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount to label_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:label="PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:title="PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xml:lang="en-US" id="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices">Percentage of credit considered undue included on ICMS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:to="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:title="Label : PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices to label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_1" xml:lang="en-US" id="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_1">The percentage of credit considered undue included tax on circulation of goods and services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:to="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_1" xlink:title="Label : PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices to label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" xlink:to="label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_2" xlink:title="Label : PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices to label_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:label="ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:title="ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock">Schedule of estimate of tax credit realization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:to="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:title="Label : ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock to label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_1">Tabular disclosure of maturity analysis of deferred tax assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:to="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_1" xlink:title="Label : ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock to label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_2">Schedule of maturity analysis of deferred tax assets [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" xlink:to="label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_2" xlink:title="Label : ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock to label_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxAssetsLeaseTransactions" xlink:label="DeferredTaxAssetsLeaseTransactions" xlink:title="DeferredTaxAssetsLeaseTransactions" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsLeaseTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsLeaseTransactions" xml:lang="en-US" id="label_DeferredTaxAssetsLeaseTransactions">Deferred tax assets, lease transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsLeaseTransactions" xlink:to="label_DeferredTaxAssetsLeaseTransactions" xlink:title="Label : DeferredTaxAssetsLeaseTransactions to label_DeferredTaxAssetsLeaseTransactions" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsLeaseTransactions" xlink:to="label_DeferredTaxAssetsLeaseTransactions_1" xlink:title="Label : DeferredTaxAssetsLeaseTransactions to label_DeferredTaxAssetsLeaseTransactions_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsLeaseTransactions_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_DeferredTaxAssetsLeaseTransactions_2" xml:lang="en-US" id="label_DeferredTaxAssetsLeaseTransactions_2">Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsLeaseTransactions" xlink:to="label_DeferredTaxAssetsLeaseTransactions_2" xlink:title="Label : DeferredTaxAssetsLeaseTransactions to label_DeferredTaxAssetsLeaseTransactions_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:label="DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:title="DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xml:lang="en-US" id="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment">Fair value amortization of the property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:to="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:title="Label : DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment to label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_1" xml:lang="en-US" id="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_1">The amount of deferred tax liabilities related to fair value amortization of the property, plant and equipment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:to="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_1" xlink:title="Label : DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment to label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_2" xml:lang="en-US" id="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_2">Deferred tax liabilities, fair value amortization of property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" xlink:to="label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_2" xlink:title="Label : DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment to label_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesInvestmentProperties" xlink:label="DeferredTaxLiabilitiesInvestmentProperties" xlink:title="DeferredTaxLiabilitiesInvestmentProperties" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesInvestmentProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxLiabilitiesInvestmentProperties" xml:lang="en-US" id="label_DeferredTaxLiabilitiesInvestmentProperties">Investment properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesInvestmentProperties" xlink:to="label_DeferredTaxLiabilitiesInvestmentProperties" xlink:title="Label : DeferredTaxLiabilitiesInvestmentProperties to label_DeferredTaxLiabilitiesInvestmentProperties" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesInvestmentProperties_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxLiabilitiesInvestmentProperties_1" xml:lang="en-US" id="label_DeferredTaxLiabilitiesInvestmentProperties_1">The amount of deferred tax liabilities related to investment properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesInvestmentProperties" xlink:to="label_DeferredTaxLiabilitiesInvestmentProperties_1" xlink:title="Label : DeferredTaxLiabilitiesInvestmentProperties to label_DeferredTaxLiabilitiesInvestmentProperties_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesInvestmentProperties_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilitiesInvestmentProperties_2" xml:lang="en-US" id="label_DeferredTaxLiabilitiesInvestmentProperties_2">Deferred tax liabilities, investment properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesInvestmentProperties" xlink:to="label_DeferredTaxLiabilitiesInvestmentProperties_2" xlink:title="Label : DeferredTaxLiabilitiesInvestmentProperties to label_DeferredTaxLiabilitiesInvestmentProperties_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesMarketableSecurities" xlink:label="DeferredTaxLiabilitiesMarketableSecurities" xlink:title="DeferredTaxLiabilitiesMarketableSecurities" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesMarketableSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxLiabilitiesMarketableSecurities" xml:lang="en-US" id="label_DeferredTaxLiabilitiesMarketableSecurities">Marketable securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesMarketableSecurities" xlink:to="label_DeferredTaxLiabilitiesMarketableSecurities" xlink:title="Label : DeferredTaxLiabilitiesMarketableSecurities to label_DeferredTaxLiabilitiesMarketableSecurities" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesMarketableSecurities_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxLiabilitiesMarketableSecurities_1" xml:lang="en-US" id="label_DeferredTaxLiabilitiesMarketableSecurities_1">The amount of deferred tax liabilities related to marketable securities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesMarketableSecurities" xlink:to="label_DeferredTaxLiabilitiesMarketableSecurities_1" xlink:title="Label : DeferredTaxLiabilitiesMarketableSecurities to label_DeferredTaxLiabilitiesMarketableSecurities_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesMarketableSecurities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilitiesMarketableSecurities_2" xml:lang="en-US" id="label_DeferredTaxLiabilitiesMarketableSecurities_2">Deferred tax liabilities, marketable securities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesMarketableSecurities" xlink:to="label_DeferredTaxLiabilitiesMarketableSecurities_2" xlink:title="Label : DeferredTaxLiabilitiesMarketableSecurities to label_DeferredTaxLiabilitiesMarketableSecurities_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:label="DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:title="DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xml:lang="en-US" id="label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview">Deferred tax liabilities, property plant and equipment useful life review</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:to="label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:title="Label : DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview to label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:to="label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview_1" xlink:title="Label : DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview to label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" xlink:to="label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview_2" xlink:title="Label : DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview to label_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:label="DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:title="DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xml:lang="en-US" id="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset">Fair value amortization of the intangible asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:to="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:title="Label : DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset to label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_1" xml:lang="en-US" id="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_1">The amount of deferred tax liabilities related to fair value amortization of the intangible asset.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:to="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_1" xlink:title="Label : DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset to label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_1" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_2" xml:lang="en-US" id="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_2">Deferred tax liabilities, Fair value amortization of intangible asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" xlink:to="label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_2" xlink:title="Label : DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset to label_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset_2" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_1" xml:lang="en-US" id="label_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_1">(Charged) / credited to the profit for the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="label_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_1" xlink:title="Label : DeferredTaxExpenseIncomeRecognisedInProfitOrLoss to label_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:label="LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:title="LaterThanFiveYearsAndNotLaterThanEightYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember">From&#xA0;5&#xA0;to&#xA0;8&#xA0;years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanEightYearsMember to label_LaterThanFiveYearsAndNotLaterThanEightYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_1" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_1">This member stands for a time band of later than five years and not later than eight years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_1" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanEightYearsMember to label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_2" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_2">Later than five years and not later than eight years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanEightYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_2" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanEightYearsMember to label_LaterThanFiveYearsAndNotLaterThanEightYearsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:label="LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:title="LaterThanEightYearsAndNotLaterThanTenYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanEightYearsAndNotLaterThanTenYearsMember" xml:lang="en-US" id="label_LaterThanEightYearsAndNotLaterThanTenYearsMember">From&#xA0;8&#xA0;to&#xA0;10&#xA0;years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:to="label_LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:title="Label : LaterThanEightYearsAndNotLaterThanTenYearsMember to label_LaterThanEightYearsAndNotLaterThanTenYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_1" xml:lang="en-US" id="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_1">This member stands for a time band of later than eight years and not later than ten years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:to="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_1" xlink:title="Label : LaterThanEightYearsAndNotLaterThanTenYearsMember to label_LaterThanEightYearsAndNotLaterThanTenYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_2" xml:lang="en-US" id="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_2">Later than eight years and not later than ten years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanEightYearsAndNotLaterThanTenYearsMember" xlink:to="label_LaterThanEightYearsAndNotLaterThanTenYearsMember_2" xlink:title="Label : LaterThanEightYearsAndNotLaterThanTenYearsMember to label_LaterThanEightYearsAndNotLaterThanTenYearsMember_2" />
    <link:label xlink:type="resource" xlink:label="label_NotLaterThanOneYearMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NotLaterThanOneYearMember_2" xml:lang="en-US" id="label_NotLaterThanOneYearMember_2">Within 1 year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotLaterThanOneYearMember" xlink:to="label_NotLaterThanOneYearMember_2" xlink:title="Label : NotLaterThanOneYearMember to label_NotLaterThanOneYearMember_2" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2" xml:lang="en-US" id="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2">From 2 to 3 years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2" xlink:title="Label : LaterThanTwoYearsAndNotLaterThanThreeYearsMember to label_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_2" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2" xml:lang="en-US" id="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2">From 3 to 4 years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2" xlink:title="Label : LaterThanThreeYearsAndNotLaterThanFourYearsMember to label_LaterThanThreeYearsAndNotLaterThanFourYearsMember_2" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2" xml:lang="en-US" id="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2">From&#xA0;4&#xA0;to&#xA0;5&#xA0;years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2" xlink:title="Label : LaterThanFourYearsAndNotLaterThanFiveYearsMember to label_LaterThanFourYearsAndNotLaterThanFiveYearsMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssets_6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DeferredTaxAssets_6" xml:lang="en-US" id="label_DeferredTaxAssets_6">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssets" xlink:to="label_DeferredTaxAssets_6" xlink:title="Label : DeferredTaxAssets to label_DeferredTaxAssets_6" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:label="ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:title="ICMSBenefitExtemporaneousTaxCreditsInterest" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ICMSBenefitExtemporaneousTaxCreditsInterest" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCreditsInterest">ICMS benefit extemporaneous tax credits interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:to="label_ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:title="Label : ICMSBenefitExtemporaneousTaxCreditsInterest to label_ICMSBenefitExtemporaneousTaxCreditsInterest" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCreditsInterest_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ICMSBenefitExtemporaneousTaxCreditsInterest_1" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCreditsInterest_1">The amount of ICMS benefit extemporaneous tax credits interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:to="label_ICMSBenefitExtemporaneousTaxCreditsInterest_1" xlink:title="Label : ICMSBenefitExtemporaneousTaxCreditsInterest to label_ICMSBenefitExtemporaneousTaxCreditsInterest_1" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCreditsInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ICMSBenefitExtemporaneousTaxCreditsInterest_2" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCreditsInterest_2">ICMS benefit extemporaneous tax credits, interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCreditsInterest" xlink:to="label_ICMSBenefitExtemporaneousTaxCreditsInterest_2" xlink:title="Label : ICMSBenefitExtemporaneousTaxCreditsInterest to label_ICMSBenefitExtemporaneousTaxCreditsInterest_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:label="ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:title="ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest">ICMS benefit extemporaneous tax credits included interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:to="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:title="Label : ICMSBenefitExtemporaneousTaxCreditsIncludedInterest to label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_1" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_1">The amount of ICMS benefit extemporaneous tax credits included interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:to="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_1" xlink:title="Label : ICMSBenefitExtemporaneousTaxCreditsIncludedInterest to label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_1" />
    <link:label xlink:type="resource" xlink:label="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_2" xml:lang="en-US" id="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_2">ICMS benefit extemporaneous tax credits, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" xlink:to="label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_2" xlink:title="Label : ICMSBenefitExtemporaneousTaxCreditsIncludedInterest to label_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxBaseOfICMS" xlink:label="TaxBaseOfICMS" xlink:title="TaxBaseOfICMS" />
    <link:label xlink:type="resource" xlink:label="label_TaxBaseOfICMS" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxBaseOfICMS" xml:lang="en-US" id="label_TaxBaseOfICMS">Tax base of ICMS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxBaseOfICMS" xlink:to="label_TaxBaseOfICMS" xlink:title="Label : TaxBaseOfICMS to label_TaxBaseOfICMS" />
    <link:label xlink:type="resource" xlink:label="label_TaxBaseOfICMS_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxBaseOfICMS_1" xml:lang="en-US" id="label_TaxBaseOfICMS_1">The percentage of tax base of ICMS.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxBaseOfICMS" xlink:to="label_TaxBaseOfICMS_1" xlink:title="Label : TaxBaseOfICMS to label_TaxBaseOfICMS_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:label="DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:title="DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xml:lang="en-US" id="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences">Deferred tax expense (income) relating to origination and reversal of temporary differences</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:title="Label : DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences to label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_1" xml:lang="en-US" id="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_1">Reversed deferred IRPJ and CSLL</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_1" xlink:title="Label : DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences to label_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xlink:label="DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xlink:title="DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xml:lang="en-US" id="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity">Deferred tax relating to amortization surplus value to charged or credited directly to equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xlink:to="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xlink:title="Label : DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity to label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity_1" xml:lang="en-US" id="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity_1">The amount of deferred tax relating to amortization surplus value to charged or credited directly to equity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" xlink:to="label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity_1" xlink:title="Label : DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity to label_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity_1" />
    <link:label xlink:type="resource" xlink:label="label_RadarGroupAcquisitionMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RadarGroupAcquisitionMember_1" xml:lang="en-US" id="label_RadarGroupAcquisitionMember_1">Radar Group Acquisition [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarGroupAcquisitionMember" xlink:to="label_RadarGroupAcquisitionMember_1" xlink:title="Label : RadarGroupAcquisitionMember to label_RadarGroupAcquisitionMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RadarGroupAcquisitionMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RadarGroupAcquisitionMember_2" xml:lang="en-US" id="label_RadarGroupAcquisitionMember_2">This member stands for the information pertaining to aggregate acquisition of Radar group.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RadarGroupAcquisitionMember" xlink:to="label_RadarGroupAcquisitionMember_2" xlink:title="Label : RadarGroupAcquisitionMember to label_RadarGroupAcquisitionMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CompassGroupAcquisitionMember" xlink:label="CompassGroupAcquisitionMember" xlink:title="CompassGroupAcquisitionMember" />
    <link:label xlink:type="resource" xlink:label="label_CompassGroupAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CompassGroupAcquisitionMember" xml:lang="en-US" id="label_CompassGroupAcquisitionMember">Compass group acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompassGroupAcquisitionMember" xlink:to="label_CompassGroupAcquisitionMember" xlink:title="Label : CompassGroupAcquisitionMember to label_CompassGroupAcquisitionMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock" xlink:to="label_ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock_1" xlink:title="Label : ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock to label_ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock_1" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" xlink:label="ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" xlink:title="ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" />
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_1">Schedule of Non-controlling Interest in Acquiree through Business Combination [Table Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_2">The tabular disclosure of non-controlling interest in acquiree through business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" xlink:to="label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_2" xlink:title="Label : ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock to label_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock_2" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" xlink:label="ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" xlink:title="ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" xml:lang="en-US" id="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock">Schedule of valuation techniques used in goodwill acquired through business combination</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock_1">The tabular disclosure of valuation techniques used in goodwill acquired through business combination.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock_2">Schedule of Valuation TechniquesUsed in Goodwill Acquired through Business Combination [Table Text Block]</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DirectOwnershipMember" xlink:label="DirectOwnershipMember" xlink:title="DirectOwnershipMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectOwnershipMember" xlink:to="label_DirectOwnershipMember" xlink:title="Label : DirectOwnershipMember to label_DirectOwnershipMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectOwnershipMember" xlink:to="label_DirectOwnershipMember_1" xlink:title="Label : DirectOwnershipMember to label_DirectOwnershipMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DirectOwnershipMember" xlink:to="label_DirectOwnershipMember_2" xlink:title="Label : DirectOwnershipMember to label_DirectOwnershipMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IndirectOwnershipMember" xlink:label="IndirectOwnershipMember" xlink:title="IndirectOwnershipMember" />
    <link:label xlink:type="resource" xlink:label="label_IndirectOwnershipMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IndirectOwnershipMember" xml:lang="en-US" id="label_IndirectOwnershipMember">Indirect</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndirectOwnershipMember" xlink:to="label_IndirectOwnershipMember" xlink:title="Label : IndirectOwnershipMember to label_IndirectOwnershipMember" />
    <link:label xlink:type="resource" xlink:label="label_IndirectOwnershipMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IndirectOwnershipMember_1" xml:lang="en-US" id="label_IndirectOwnershipMember_1">Indirect Ownership [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndirectOwnershipMember" xlink:to="label_IndirectOwnershipMember_1" xlink:title="Label : IndirectOwnershipMember to label_IndirectOwnershipMember_1" />
    <link:label xlink:type="resource" xlink:label="label_IndirectOwnershipMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IndirectOwnershipMember_2" xml:lang="en-US" id="label_IndirectOwnershipMember_2">This member stands for the information pertaining to Indirect ownership.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndirectOwnershipMember" xlink:to="label_IndirectOwnershipMember_2" xlink:title="Label : IndirectOwnershipMember to label_IndirectOwnershipMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NameOfAcquiree" xlink:label="NameOfAcquiree" xlink:title="NameOfAcquiree" />
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    <link:label xlink:type="resource" xlink:label="label_MansillaParticipacoesLtdaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MansillaParticipacoesLtdaMember" xml:lang="en-US" id="label_MansillaParticipacoesLtdaMember">Mansilla Participa&#xE7;&#xF5;es Ltda.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MansillaParticipacoesLtdaMember" xlink:to="label_MansillaParticipacoesLtdaMember" xlink:title="Label : MansillaParticipacoesLtdaMember to label_MansillaParticipacoesLtdaMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MansillaParticipacoesLtdaMember" xlink:to="label_MansillaParticipacoesLtdaMember_2" xlink:title="Label : MansillaParticipacoesLtdaMember to label_MansillaParticipacoesLtdaMember_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:to="label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate to label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxAssetsRecognisedAsOfAcquisitionDate" xlink:label="TaxAssetsRecognisedAsOfAcquisitionDate" xlink:title="TaxAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxAssetsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_TaxAssetsRecognisedAsOfAcquisitionDate">Tax Assets Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_TaxAssetsRecognisedAsOfAcquisitionDate" xlink:title="Label : TaxAssetsRecognisedAsOfAcquisitionDate to label_TaxAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssetsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxAssetsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_TaxAssetsRecognisedAsOfAcquisitionDate_1">Taxes to recover</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_TaxAssetsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : TaxAssetsRecognisedAsOfAcquisitionDate to label_TaxAssetsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxAssetsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxAssetsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_TaxAssetsRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for tax assets acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_TaxAssetsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : TaxAssetsRecognisedAsOfAcquisitionDate to label_TaxAssetsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:label="OtherAssetsRecognisedAsOfAcquisitionDate" xlink:title="OtherAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAssetsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherAssetsRecognisedAsOfAcquisitionDate">Other Assets Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherAssetsRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherAssetsRecognisedAsOfAcquisitionDate to label_OtherAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAssetsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherAssetsRecognisedAsOfAcquisitionDate_1">Other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherAssetsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherAssetsRecognisedAsOfAcquisitionDate to label_OtherAssetsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherAssetsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherAssetsRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for other assets acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherAssetsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherAssetsRecognisedAsOfAcquisitionDate to label_OtherAssetsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:label="JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:title="JudicialDepositsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_JudicialDepositsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_JudicialDepositsRecognisedAsOfAcquisitionDate">Judicial Deposits Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:to="label_JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:title="Label : JudicialDepositsRecognisedAsOfAcquisitionDate to label_JudicialDepositsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_JudicialDepositsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_JudicialDepositsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_JudicialDepositsRecognisedAsOfAcquisitionDate_1">Judicial deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:to="label_JudicialDepositsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : JudicialDepositsRecognisedAsOfAcquisitionDate to label_JudicialDepositsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_JudicialDepositsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_JudicialDepositsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_JudicialDepositsRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for judicial deposit assets acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JudicialDepositsRecognisedAsOfAcquisitionDate" xlink:to="label_JudicialDepositsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : JudicialDepositsRecognisedAsOfAcquisitionDate to label_JudicialDepositsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:label="OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:title="OtherFinancialAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate">Other Financial Assets Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:title="Label : OtherFinancialAssetsRecognisedAsOfAcquisitionDate to label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_1">Other financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : OtherFinancialAssetsRecognisedAsOfAcquisitionDate to label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for other financial assets acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherFinancialAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : OtherFinancialAssetsRecognisedAsOfAcquisitionDate to label_OtherFinancialAssetsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:label="InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:title="InvestmentPropertiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate">Investment Properties Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:to="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:title="Label : InvestmentPropertiesRecognisedAsOfAcquisitionDate to label_InvestmentPropertiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_1">Investment properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:to="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : InvestmentPropertiesRecognisedAsOfAcquisitionDate to label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for investment properties acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentPropertiesRecognisedAsOfAcquisitionDate" xlink:to="label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : InvestmentPropertiesRecognisedAsOfAcquisitionDate to label_InvestmentPropertiesRecognisedAsOfAcquisitionDate_2" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_1">Deferred tax assets recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : DeferredTaxAssetsRecognisedAsOfAcquisitionDate to label_DeferredTaxAssetsRecognisedAsOfAcquisitionDate_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:label="RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:title="RightOfUseAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate">Right of Use Assets Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:title="Label : RightOfUseAssetsRecognisedAsOfAcquisitionDate to label_RightOfUseAssetsRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_1">Right of use</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_1" xlink:title="Label : RightOfUseAssetsRecognisedAsOfAcquisitionDate to label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for right-of-use assets acquired in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RightOfUseAssetsRecognisedAsOfAcquisitionDate" xlink:to="label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_2" xlink:title="Label : RightOfUseAssetsRecognisedAsOfAcquisitionDate to label_RightOfUseAssetsRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="TaxLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate">Tax Liabilities Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="Label : TaxLiabilitiesRecognisedAsOfAcquisitionDate to label_TaxLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_1">Taxes payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : TaxLiabilitiesRecognisedAsOfAcquisitionDate to label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for tax liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : TaxLiabilitiesRecognisedAsOfAcquisitionDate to label_TaxLiabilitiesRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="LeaseLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate">Lease Liabilities Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="Label : LeaseLiabilitiesRecognisedAsOfAcquisitionDate to label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_1">Lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:title="Label : LeaseLiabilitiesRecognisedAsOfAcquisitionDate to label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_2">The amount recognised as of the acquisition date for lease liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : LeaseLiabilitiesRecognisedAsOfAcquisitionDate to label_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:label="AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:title="AdvanceFromCustomersRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate">The amount recognised as of the acquisition date for advance from customer liabilities assumed in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:to="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:title="Label : AdvanceFromCustomersRecognisedAsOfAcquisitionDate to label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_1">Advance from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:to="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_1" xlink:title="Label : AdvanceFromCustomersRecognisedAsOfAcquisitionDate to label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_1" />
    <link:label xlink:type="resource" xlink:label="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_2">Advance from Customers Recognised as of Acquisition Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdvanceFromCustomersRecognisedAsOfAcquisitionDate" xlink:to="label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_2" xlink:title="Label : AdvanceFromCustomersRecognisedAsOfAcquisitionDate to label_AdvanceFromCustomersRecognisedAsOfAcquisitionDate_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="ContingentLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xml:lang="en-US" id="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate">Contingent liabilities recognised as of acquisition date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:title="Label : ContingentLiabilitiesRecognisedAsOfAcquisitionDate to label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_2">Receivables from related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate" xlink:to="label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_2" xlink:title="Label : ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate to label_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate_2" />
    <link:label xlink:type="resource" xlink:label="label_TradeReceivablesRecognisedAsOfAcquisitionDate_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TradeReceivablesRecognisedAsOfAcquisitionDate_3" xml:lang="en-US" id="label_TradeReceivablesRecognisedAsOfAcquisitionDate_3">Accounts receivable from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeReceivablesRecognisedAsOfAcquisitionDate" xlink:to="label_TradeReceivablesRecognisedAsOfAcquisitionDate_3" xlink:title="Label : TradeReceivablesRecognisedAsOfAcquisitionDate to label_TradeReceivablesRecognisedAsOfAcquisitionDate_3" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_2">Fixed assets</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_3" xml:lang="en-US" id="label_OtherLiabilitiesRecognisedAsOfAcquisitionDate_3">Other obligations</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_2" xml:lang="en-US" id="label_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_2">Deferred income tax and social contribution</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate_1" xml:lang="en-US" id="label_ContingentLiabilitiesRecognisedAsOfAcquisitionDate_1">Provision for contingencies</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:label="AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:title="AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xml:lang="en-US" id="label_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate">Fair value of Radar's Group pre-existing interest</link:label>
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    <link:label xlink:type="resource" xlink:label="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_3" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_3" xml:lang="en-US" id="label_AcquisitiondateFairValueOfTotalConsiderationTransferred_3">Transferred consideration</link:label>
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    <link:label xlink:type="resource" xlink:label="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_3" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_3" xml:lang="en-US" id="label_IdentifiableAssetsAcquiredLiabilitiesAssumed_3">Total identifiable assets, net</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfAcquiree" xlink:label="DescriptionOfAcquiree" xlink:title="DescriptionOfAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfAcquiree" xml:lang="en-US" id="label_DescriptionOfAcquiree">Description of acquiree</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAcquiree" xlink:to="label_DescriptionOfAcquiree" xlink:title="Label : DescriptionOfAcquiree to label_DescriptionOfAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_NameOfAcquiree_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NameOfAcquiree_2" xml:lang="en-US" id="label_NameOfAcquiree_2">Name of the acquiree</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DescriptionOfAcquiree_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfAcquiree_1" xml:lang="en-US" id="label_DescriptionOfAcquiree_1">Description of the operation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfAcquiree" xlink:to="label_DescriptionOfAcquiree_1" xlink:title="Label : DescriptionOfAcquiree to label_DescriptionOfAcquiree_1" />
    <link:label xlink:type="resource" xlink:label="label_GoodwillRecognisedAsOfAcquisitionDate_4" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:title="label_GoodwillRecognisedAsOfAcquisitionDate_4" xml:lang="en-US" id="label_GoodwillRecognisedAsOfAcquisitionDate_4">Goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodwillRecognisedAsOfAcquisitionDate" xlink:to="label_GoodwillRecognisedAsOfAcquisitionDate_4" xlink:title="Label : GoodwillRecognisedAsOfAcquisitionDate to label_GoodwillRecognisedAsOfAcquisitionDate_4" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfNatureOfGoodwillMeasurement" xlink:label="DescriptionOfNatureOfGoodwillMeasurement" xlink:title="DescriptionOfNatureOfGoodwillMeasurement" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfNatureOfGoodwillMeasurement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfNatureOfGoodwillMeasurement" xml:lang="en-US" id="label_DescriptionOfNatureOfGoodwillMeasurement">Description of Nature of Goodwill Measurement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfNatureOfGoodwillMeasurement" xlink:to="label_DescriptionOfNatureOfGoodwillMeasurement" xlink:title="Label : DescriptionOfNatureOfGoodwillMeasurement to label_DescriptionOfNatureOfGoodwillMeasurement" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfNatureOfGoodwillMeasurement_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfNatureOfGoodwillMeasurement_1" xml:lang="en-US" id="label_DescriptionOfNatureOfGoodwillMeasurement_1">Nature</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfNatureOfGoodwillMeasurement" xlink:to="label_DescriptionOfNatureOfGoodwillMeasurement_1" xlink:title="Label : DescriptionOfNatureOfGoodwillMeasurement to label_DescriptionOfNatureOfGoodwillMeasurement_1" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfValuationTechniquesAndKeyModelInputsUsedToMeasureGoodwill" xlink:label="DescriptionOfValuationTechniquesAndKeyModelInputsUsedToMeasureGoodwill" xlink:title="DescriptionOfValuationTechniquesAndKeyModelInputsUsedToMeasureGoodwill" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfUsefulLifeOfGoodwill" xlink:label="DescriptionOfUsefulLifeOfGoodwill" xlink:title="DescriptionOfUsefulLifeOfGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfUsefulLifeOfGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfUsefulLifeOfGoodwill" xml:lang="en-US" id="label_DescriptionOfUsefulLifeOfGoodwill">Description of Useful Life of Goodwill</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfUsefulLifeOfGoodwill" xlink:to="label_DescriptionOfUsefulLifeOfGoodwill" xlink:title="Label : DescriptionOfUsefulLifeOfGoodwill to label_DescriptionOfUsefulLifeOfGoodwill" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfUsefulLifeOfGoodwill_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfUsefulLifeOfGoodwill_1" xml:lang="en-US" id="label_DescriptionOfUsefulLifeOfGoodwill_1">Useful life</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfUsefulLifeOfGoodwill" xlink:to="label_DescriptionOfUsefulLifeOfGoodwill_1" xlink:title="Label : DescriptionOfUsefulLifeOfGoodwill to label_DescriptionOfUsefulLifeOfGoodwill_1" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfUsefulLifeOfGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfUsefulLifeOfGoodwill_2" xml:lang="en-US" id="label_DescriptionOfUsefulLifeOfGoodwill_2">The description of useful life of goodwill.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfUsefulLifeOfGoodwill" xlink:to="label_DescriptionOfUsefulLifeOfGoodwill_2" xlink:title="Label : DescriptionOfUsefulLifeOfGoodwill to label_DescriptionOfUsefulLifeOfGoodwill_2" />
    <link:label xlink:type="resource" xlink:label="label_GoodwillRecognisedAsOfAcquisitionDate_5" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:title="label_GoodwillRecognisedAsOfAcquisitionDate_5" xml:lang="en-US" id="label_GoodwillRecognisedAsOfAcquisitionDate_5">Fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GoodwillRecognisedAsOfAcquisitionDate" xlink:to="label_GoodwillRecognisedAsOfAcquisitionDate_5" xlink:title="Label : GoodwillRecognisedAsOfAcquisitionDate to label_GoodwillRecognisedAsOfAcquisitionDate_5" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" xlink:label="AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" xlink:title="AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" xml:lang="en-US" id="label_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable">Adjustment amount of the installments by the IPCA for consideration transferred</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" xlink:to="label_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable_2" xlink:title="Label : AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable to label_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfShareholdersInAcquiree" xlink:label="NumberOfShareholdersInAcquiree" xlink:title="NumberOfShareholdersInAcquiree" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfShareholdersInAcquiree" xlink:to="label_NumberOfShareholdersInAcquiree" xlink:title="Label : NumberOfShareholdersInAcquiree to label_NumberOfShareholdersInAcquiree" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfShareholdersInAcquiree_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfShareholdersInAcquiree_1" xml:lang="en-US" id="label_NumberOfShareholdersInAcquiree_1">The number of shareholders in acquiree in a business combination.</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossOfCombinedEntity" xlink:label="ProfitLossOfCombinedEntity" xlink:title="ProfitLossOfCombinedEntity" />
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    <link:label xlink:type="resource" xlink:label="label_RevenueOfCombinedEntity_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_RevenueOfCombinedEntity_2" xml:lang="en-US" id="label_RevenueOfCombinedEntity_2">Revenue of combined entity as if combination occurred at beginning of period</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:label="IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:title="IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfLeasesTable" xlink:label="DisclosureOfLeasesTable" xlink:title="DisclosureOfLeasesTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfLeasesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfLeasesTable" xml:lang="en-US" id="label_DisclosureOfLeasesTable">Disclosure of Leases [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PresentValueOfExpectedInstallmentsMember" xlink:label="PresentValueOfExpectedInstallmentsMember" xlink:title="PresentValueOfExpectedInstallmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_PresentValueOfExpectedInstallmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PresentValueOfExpectedInstallmentsMember" xml:lang="en-US" id="label_PresentValueOfExpectedInstallmentsMember">Registered</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PresentValueOfExpectedInstallmentsMember" xlink:to="label_PresentValueOfExpectedInstallmentsMember_1" xlink:title="Label : PresentValueOfExpectedInstallmentsMember to label_PresentValueOfExpectedInstallmentsMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PresentValueOfExpectedInstallmentsMember" xlink:to="label_PresentValueOfExpectedInstallmentsMember_2" xlink:title="Label : PresentValueOfExpectedInstallmentsMember to label_PresentValueOfExpectedInstallmentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProjectedFutureInflationOfInstallmentsMember" xlink:label="ProjectedFutureInflationOfInstallmentsMember" xlink:title="ProjectedFutureInflationOfInstallmentsMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectedFutureInflationOfInstallmentsMember" xlink:to="label_ProjectedFutureInflationOfInstallmentsMember_1" xlink:title="Label : ProjectedFutureInflationOfInstallmentsMember to label_ProjectedFutureInflationOfInstallmentsMember_1" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfLeasesLineItems" xlink:label="DisclosureOfLeasesLineItems" xlink:title="DisclosureOfLeasesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfLeasesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfLeasesLineItems" xml:lang="en-US" id="label_DisclosureOfLeasesLineItems">Lease accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLeasesLineItems" xlink:to="label_DisclosureOfLeasesLineItems" xlink:title="Label : DisclosureOfLeasesLineItems to label_DisclosureOfLeasesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfLeasesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfLeasesLineItems_1" xml:lang="en-US" id="label_DisclosureOfLeasesLineItems_1">Disclosure of Leases [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfLeasesLineItems" xlink:to="label_DisclosureOfLeasesLineItems_1" xlink:title="Label : DisclosureOfLeasesLineItems to label_DisclosureOfLeasesLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" xlink:label="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" xlink:title="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" xml:lang="en-US" id="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities">Percentage of changes in present value to projected future inflation of installments, lease liabilities</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsResidualRightOfUse" xlink:label="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsResidualRightOfUse" xlink:title="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsResidualRightOfUse" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense" xlink:label="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense" xlink:title="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense" />
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    <link:label xlink:type="resource" xlink:label="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense_2" xml:lang="en-US" id="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense_2">The percentage of changes in present value to projected future inflation of installments related to financial expense of leases.</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" xlink:label="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" xlink:title="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" xml:lang="en-US" id="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense">Percentage of Changes in Present Value to Projected Future Inflation of Installments Depreciation Expense</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense_2" xml:lang="en-US" id="label_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense_2">Percentage of changes in present value to projected future inflation of installments, depreciation expense</link:label>
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    <link:label xlink:type="resource" xlink:label="label_InterestExpenseOnLeaseLiabilities_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_InterestExpenseOnLeaseLiabilities_3" xml:lang="en-US" id="label_InterestExpenseOnLeaseLiabilities_3">Financial expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestExpenseOnLeaseLiabilities" xlink:to="label_InterestExpenseOnLeaseLiabilities_3" xlink:title="Label : InterestExpenseOnLeaseLiabilities to label_InterestExpenseOnLeaseLiabilities_3" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationRightofuseAssets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationRightofuseAssets_2" xml:lang="en-US" id="label_DepreciationRightofuseAssets_2">Depreciation, right-of-use assets</link:label>
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    <link:label xlink:type="resource" xlink:label="label_LeaseLiabilities_5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_LeaseLiabilities_5" xml:lang="en-US" id="label_LeaseLiabilities_5">Lease liabilities</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DisclosureOfDetailedInformationAboutBorrowingsTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfDetailedInformationAboutBorrowingsTable_1" xml:lang="en-US" id="label_DisclosureOfDetailedInformationAboutBorrowingsTable_1">Disclosure of detailed information about borrowings [table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfDetailedInformationAboutBorrowingsTable" xlink:to="label_DisclosureOfDetailedInformationAboutBorrowingsTable_1" xlink:title="Label : DisclosureOfDetailedInformationAboutBorrowingsTable to label_DisclosureOfDetailedInformationAboutBorrowingsTable_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperatingSegmentsTable" xlink:to="label_DisclosureOfOperatingSegmentsTable_1" xlink:title="Label : DisclosureOfOperatingSegmentsTable to label_DisclosureOfOperatingSegmentsTable_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfLeasesCostTableTextBlock" xlink:label="ScheduleOfLeasesCostTableTextBlock" xlink:title="ScheduleOfLeasesCostTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfLeasesCostTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfLeasesCostTableTextBlock" xml:lang="en-US" id="label_ScheduleOfLeasesCostTableTextBlock">Summary of impacts on income during the year that were recorded for other lease agreements that were not included in the measurement of lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfLeasesCostTableTextBlock" xlink:to="label_ScheduleOfLeasesCostTableTextBlock" xlink:title="Label : ScheduleOfLeasesCostTableTextBlock to label_ScheduleOfLeasesCostTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfLeasesCostTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfLeasesCostTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfLeasesCostTableTextBlock_1">Schedule of Leases Cost [Table Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfLeasesCostTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfLeasesCostTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfLeasesCostTableTextBlock_2">The tabular disclosure of lessee's leases cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfLeasesCostTableTextBlock" xlink:to="label_ScheduleOfLeasesCostTableTextBlock_2" xlink:title="Label : ScheduleOfLeasesCostTableTextBlock to label_ScheduleOfLeasesCostTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:label="ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:title="ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock">Schedule of fair value option of financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:to="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:title="Label : ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock to label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_1">Schedule of Fair Value Option of Financial Instruments [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:to="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_1" xlink:title="Label : ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock to label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_2">The tabular disclosure of fair value option of financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" xlink:to="label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_2" xlink:title="Label : ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock to label_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:label="ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:title="ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock">Schedule of Projection of Settlement of Positions at Nominal Value of Energy Trading Operations [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:to="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:title="Label : ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock to label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_1">Schedule of projection of settlement of positions, at nominal value of energy trading operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:to="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_1" xlink:title="Label : ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock to label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_2">The tabular disclosure of projection of settlement of positions, at nominal value of energy trading operations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" xlink:to="label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_2" xlink:title="Label : ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock to label_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock_2" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_2" xml:lang="en-US" id="label_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_2">Schedule of projected future inflation of leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory" xlink:to="label_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_2" xlink:title="Label : DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory to label_DisclosureOfAdditionalInformationAboutLeasingActivitiesForLesseeExplanatory_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScheduleOfOtherFinancialAssetsTableTextBlock" xlink:label="ScheduleOfOtherFinancialAssetsTableTextBlock" xlink:title="ScheduleOfOtherFinancialAssetsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfOtherFinancialAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScheduleOfOtherFinancialAssetsTableTextBlock" xml:lang="en-US" id="label_ScheduleOfOtherFinancialAssetsTableTextBlock">Schedule of other financial assets</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ScheduleOfOtherFinancialAssetsTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScheduleOfOtherFinancialAssetsTableTextBlock_1" xml:lang="en-US" id="label_ScheduleOfOtherFinancialAssetsTableTextBlock_1">The tabular disclosure of composition of other financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfOtherFinancialAssetsTableTextBlock" xlink:to="label_ScheduleOfOtherFinancialAssetsTableTextBlock_1" xlink:title="Label : ScheduleOfOtherFinancialAssetsTableTextBlock to label_ScheduleOfOtherFinancialAssetsTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ScheduleOfOtherFinancialAssetsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScheduleOfOtherFinancialAssetsTableTextBlock_2" xml:lang="en-US" id="label_ScheduleOfOtherFinancialAssetsTableTextBlock_2">Schedule of Other Financial Assets [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfOtherFinancialAssetsTableTextBlock" xlink:to="label_ScheduleOfOtherFinancialAssetsTableTextBlock_2" xlink:title="Label : ScheduleOfOtherFinancialAssetsTableTextBlock to label_ScheduleOfOtherFinancialAssetsTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="ClassesOfFinancialLiabilitiesAxis" xlink:title="ClassesOfFinancialLiabilitiesAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ClassesOfFinancialLiabilitiesAxis" xlink:to="label_ClassesOfFinancialLiabilitiesAxis" xlink:title="Label : ClassesOfFinancialLiabilitiesAxis to label_ClassesOfFinancialLiabilitiesAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="FinancialLiabilitiesMember" xlink:title="FinancialLiabilitiesMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialLiabilitiesMember" xml:lang="en-US" id="label_FinancialLiabilitiesMember">Financial liabilities, class [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialLiabilitiesMember" xlink:to="label_FinancialLiabilitiesMember" xlink:title="Label : FinancialLiabilitiesMember to label_FinancialLiabilitiesMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrencySwapContractMember" xlink:label="CurrencySwapContractMember" xlink:title="CurrencySwapContractMember" />
    <link:label xlink:type="resource" xlink:label="label_CurrencySwapContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrencySwapContractMember" xml:lang="en-US" id="label_CurrencySwapContractMember">Exchange rate Objects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencySwapContractMember" xlink:to="label_CurrencySwapContractMember" xlink:title="Label : CurrencySwapContractMember to label_CurrencySwapContractMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="TypesOfHedgesAxis" xlink:title="TypesOfHedgesAxis" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfHedgesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfHedgesAxis" xml:lang="en-US" id="label_TypesOfHedgesAxis">Types of hedges [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfHedgesAxis" xlink:to="label_TypesOfHedgesAxis" xlink:title="Label : TypesOfHedgesAxis to label_TypesOfHedgesAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="TypesOfHedgesMember" xlink:title="TypesOfHedgesMember" />
    <link:label xlink:type="resource" xlink:label="label_TypesOfHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TypesOfHedgesMember" xml:lang="en-US" id="label_TypesOfHedgesMember">Hedges [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TypesOfHedgesMember" xlink:to="label_TypesOfHedgesMember" xlink:title="Label : TypesOfHedgesMember to label_TypesOfHedgesMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FairValueHedgesMember" xlink:label="FairValueHedgesMember" xlink:title="FairValueHedgesMember" />
    <link:label xlink:type="resource" xlink:label="label_FairValueHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FairValueHedgesMember" xml:lang="en-US" id="label_FairValueHedgesMember">Fair value hedges [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueHedgesMember" xlink:to="label_FairValueHedgesMember" xlink:title="Label : FairValueHedgesMember to label_FairValueHedgesMember" />
    <link:label xlink:type="resource" xlink:label="label_FairValueHedgesMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FairValueHedgesMember_1" xml:lang="en-US" id="label_FairValueHedgesMember_1">Fair value hedge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueHedgesMember" xlink:to="label_FairValueHedgesMember_1" xlink:title="Label : FairValueHedgesMember to label_FairValueHedgesMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Eib3RdTrancheMember" xlink:label="Eib3RdTrancheMember" xlink:title="Eib3RdTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_Eib3RdTrancheMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Eib3RdTrancheMember" xml:lang="en-US" id="label_Eib3RdTrancheMember">EIB 3rd Tranche</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eib3RdTrancheMember" xlink:to="label_Eib3RdTrancheMember" xlink:title="Label : Eib3RdTrancheMember to label_Eib3RdTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_Eib3RdTrancheMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Eib3RdTrancheMember_1" xml:lang="en-US" id="label_Eib3RdTrancheMember_1">This member stands for the information pertaining to EIB 3rd Tranche.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eib3RdTrancheMember" xlink:to="label_Eib3RdTrancheMember_1" xlink:title="Label : Eib3RdTrancheMember to label_Eib3RdTrancheMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Eib3RdTrancheMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Eib3RdTrancheMember_2" xml:lang="en-US" id="label_Eib3RdTrancheMember_2">EIB 3rd Tranche [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eib3RdTrancheMember" xlink:to="label_Eib3RdTrancheMember_2" xlink:title="Label : Eib3RdTrancheMember to label_Eib3RdTrancheMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Eib4ThTrancheMember" xlink:label="Eib4ThTrancheMember" xlink:title="Eib4ThTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_Eib4ThTrancheMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Eib4ThTrancheMember" xml:lang="en-US" id="label_Eib4ThTrancheMember">EIB 4th Tranche</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eib4ThTrancheMember" xlink:to="label_Eib4ThTrancheMember" xlink:title="Label : Eib4ThTrancheMember to label_Eib4ThTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_Eib4ThTrancheMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Eib4ThTrancheMember_1" xml:lang="en-US" id="label_Eib4ThTrancheMember_1">This member stands for the information pertaining to EIB 4th Tranche.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eib4ThTrancheMember" xlink:to="label_Eib4ThTrancheMember_1" xlink:title="Label : Eib4ThTrancheMember to label_Eib4ThTrancheMember_1" />
    <link:label xlink:type="resource" xlink:label="label_Eib4ThTrancheMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Eib4ThTrancheMember_2" xml:lang="en-US" id="label_Eib4ThTrancheMember_2">EIB 4th Tranche [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Eib4ThTrancheMember" xlink:to="label_Eib4ThTrancheMember_2" xlink:title="Label : Eib4ThTrancheMember to label_Eib4ThTrancheMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Resolution41312018Member" xlink:label="Resolution41312018Member" xlink:title="Resolution41312018Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312018Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Resolution41312018Member" xml:lang="en-US" id="label_Resolution41312018Member">Resolution 4,131 (2018)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312018Member" xlink:to="label_Resolution41312018Member" xlink:title="Label : Resolution41312018Member to label_Resolution41312018Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312018Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Resolution41312018Member_1" xml:lang="en-US" id="label_Resolution41312018Member_1">This member stands for the information pertaining to resolution 4,131 at 2018.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312018Member" xlink:to="label_Resolution41312018Member_1" xlink:title="Label : Resolution41312018Member to label_Resolution41312018Member_1" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312018Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Resolution41312018Member_2" xml:lang="en-US" id="label_Resolution41312018Member_2">Resolution 4,131 (2018) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312018Member" xlink:to="label_Resolution41312018Member_2" xlink:title="Label : Resolution41312018Member to label_Resolution41312018Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Resolution41312020Member" xlink:label="Resolution41312020Member" xlink:title="Resolution41312020Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312020Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Resolution41312020Member" xml:lang="en-US" id="label_Resolution41312020Member">Resolution 4,131 (2020)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312020Member" xlink:to="label_Resolution41312020Member" xlink:title="Label : Resolution41312020Member to label_Resolution41312020Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312020Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Resolution41312020Member_1" xml:lang="en-US" id="label_Resolution41312020Member_1">This member stands for the information pertaining to resolution 4,131 at 2020.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312020Member" xlink:to="label_Resolution41312020Member_1" xlink:title="Label : Resolution41312020Member to label_Resolution41312020Member_1" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312020Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Resolution41312020Member_2" xml:lang="en-US" id="label_Resolution41312020Member_2">Resolution 4,131 (2020) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312020Member" xlink:to="label_Resolution41312020Member_2" xlink:title="Label : Resolution41312020Member to label_Resolution41312020Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_Resolution41312021Member" xlink:label="Resolution41312021Member" xlink:title="Resolution41312021Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Resolution41312021Member" xml:lang="en-US" id="label_Resolution41312021Member">Resolution 4,131 (2021)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312021Member" xlink:to="label_Resolution41312021Member" xlink:title="Label : Resolution41312021Member to label_Resolution41312021Member" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312021Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_Resolution41312021Member_1" xml:lang="en-US" id="label_Resolution41312021Member_1">This member stands for the information pertaining to resolution 4,131 at 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312021Member" xlink:to="label_Resolution41312021Member_1" xlink:title="Label : Resolution41312021Member to label_Resolution41312021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_Resolution41312021Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Resolution41312021Member_2" xml:lang="en-US" id="label_Resolution41312021Member_2">Resolution 4,131 (2021) [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Resolution41312021Member" xlink:to="label_Resolution41312021Member_2" xlink:title="Label : Resolution41312021Member to label_Resolution41312021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebentureOneMember" xlink:label="DebentureOneMember" xlink:title="DebentureOneMember" />
    <link:label xlink:type="resource" xlink:label="label_DebentureOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebentureOneMember" xml:lang="en-US" id="label_DebentureOneMember">Debenture, one</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebentureOneMember" xlink:to="label_DebentureOneMember" xlink:title="Label : DebentureOneMember to label_DebentureOneMember" />
    <link:label xlink:type="resource" xlink:label="label_DebentureOneMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebentureOneMember_1" xml:lang="en-US" id="label_DebentureOneMember_1">This member stands for the information pertaining to debenture, one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebentureOneMember" xlink:to="label_DebentureOneMember_1" xlink:title="Label : DebentureOneMember to label_DebentureOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebentureOneMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebentureOneMember_2" xml:lang="en-US" id="label_DebentureOneMember_2">Debenture, one [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebentureOneMember" xlink:to="label_DebentureOneMember_2" xlink:title="Label : DebentureOneMember to label_DebentureOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DebentureTwoMember" xlink:label="DebentureTwoMember" xlink:title="DebentureTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_DebentureTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DebentureTwoMember" xml:lang="en-US" id="label_DebentureTwoMember">Debenture, two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebentureTwoMember" xlink:to="label_DebentureTwoMember" xlink:title="Label : DebentureTwoMember to label_DebentureTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_DebentureTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DebentureTwoMember_1" xml:lang="en-US" id="label_DebentureTwoMember_1">This member stands for the information pertaining to debenture, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebentureTwoMember" xlink:to="label_DebentureTwoMember_1" xlink:title="Label : DebentureTwoMember to label_DebentureTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DebentureTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DebentureTwoMember_2" xml:lang="en-US" id="label_DebentureTwoMember_2">Debenture, two [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebentureTwoMember" xlink:to="label_DebentureTwoMember_2" xlink:title="Label : DebentureTwoMember to label_DebentureTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SeniorSwapNotesDue2027Member" xlink:label="SeniorSwapNotesDue2027Member" xlink:title="SeniorSwapNotesDue2027Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorSwapNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SeniorSwapNotesDue2027Member" xml:lang="en-US" id="label_SeniorSwapNotesDue2027Member">Swap Notes 2027</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSwapNotesDue2027Member" xlink:to="label_SeniorSwapNotesDue2027Member" xlink:title="Label : SeniorSwapNotesDue2027Member to label_SeniorSwapNotesDue2027Member" />
    <link:label xlink:type="resource" xlink:label="label_SeniorSwapNotesDue2027Member_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SeniorSwapNotesDue2027Member_1" xml:lang="en-US" id="label_SeniorSwapNotesDue2027Member_1">This member stands for the information pertaining to Senior Swap Notes due at 2027.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSwapNotesDue2027Member" xlink:to="label_SeniorSwapNotesDue2027Member_1" xlink:title="Label : SeniorSwapNotesDue2027Member to label_SeniorSwapNotesDue2027Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SeniorSwapNotesDue2027Member_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SeniorSwapNotesDue2027Member_2" xml:lang="en-US" id="label_SeniorSwapNotesDue2027Member_2">Senior Swap Notes due, 2027 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorSwapNotesDue2027Member" xlink:to="label_SeniorSwapNotesDue2027Member_2" xlink:title="Label : SeniorSwapNotesDue2027Member to label_SeniorSwapNotesDue2027Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InflationAndInterestRateSwapsOneMember" xlink:label="InflationAndInterestRateSwapsOneMember" xlink:title="InflationAndInterestRateSwapsOneMember" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapsOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InflationAndInterestRateSwapsOneMember" xml:lang="en-US" id="label_InflationAndInterestRateSwapsOneMember">Inflation and interest rate swaps, one</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapsOneMember" xlink:to="label_InflationAndInterestRateSwapsOneMember" xlink:title="Label : InflationAndInterestRateSwapsOneMember to label_InflationAndInterestRateSwapsOneMember" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapsOneMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InflationAndInterestRateSwapsOneMember_1" xml:lang="en-US" id="label_InflationAndInterestRateSwapsOneMember_1">This member stands for the information pertaining to Inflation and interest rate swaps, one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapsOneMember" xlink:to="label_InflationAndInterestRateSwapsOneMember_1" xlink:title="Label : InflationAndInterestRateSwapsOneMember to label_InflationAndInterestRateSwapsOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapsOneMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InflationAndInterestRateSwapsOneMember_2" xml:lang="en-US" id="label_InflationAndInterestRateSwapsOneMember_2">Inflation and interest rate swaps, one [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapsOneMember" xlink:to="label_InflationAndInterestRateSwapsOneMember_2" xlink:title="Label : InflationAndInterestRateSwapsOneMember to label_InflationAndInterestRateSwapsOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InflationAndInterestRateSwapsTwoMember" xlink:label="InflationAndInterestRateSwapsTwoMember" xlink:title="InflationAndInterestRateSwapsTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapsTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InflationAndInterestRateSwapsTwoMember" xml:lang="en-US" id="label_InflationAndInterestRateSwapsTwoMember">Inflation and interest rate swaps, two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapsTwoMember" xlink:to="label_InflationAndInterestRateSwapsTwoMember" xlink:title="Label : InflationAndInterestRateSwapsTwoMember to label_InflationAndInterestRateSwapsTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapsTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InflationAndInterestRateSwapsTwoMember_1" xml:lang="en-US" id="label_InflationAndInterestRateSwapsTwoMember_1">This member stands for the information pertaining to Inflation and interest rate swaps, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapsTwoMember" xlink:to="label_InflationAndInterestRateSwapsTwoMember_1" xlink:title="Label : InflationAndInterestRateSwapsTwoMember to label_InflationAndInterestRateSwapsTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InflationAndInterestRateSwapsTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InflationAndInterestRateSwapsTwoMember_2" xml:lang="en-US" id="label_InflationAndInterestRateSwapsTwoMember_2">Inflation and interest rate swaps, two [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InflationAndInterestRateSwapsTwoMember" xlink:to="label_InflationAndInterestRateSwapsTwoMember_2" xlink:title="Label : InflationAndInterestRateSwapsTwoMember to label_InflationAndInterestRateSwapsTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ForexAndInterestSwapOneMember" xlink:label="ForexAndInterestSwapOneMember" xlink:title="ForexAndInterestSwapOneMember" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForexAndInterestSwapOneMember" xml:lang="en-US" id="label_ForexAndInterestSwapOneMember">Forex and interest swap, one [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapOneMember" xlink:to="label_ForexAndInterestSwapOneMember" xlink:title="Label : ForexAndInterestSwapOneMember to label_ForexAndInterestSwapOneMember" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapOneMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForexAndInterestSwapOneMember_1" xml:lang="en-US" id="label_ForexAndInterestSwapOneMember_1">This member stands for the information pertaining to forex and interest swap, one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapOneMember" xlink:to="label_ForexAndInterestSwapOneMember_1" xlink:title="Label : ForexAndInterestSwapOneMember to label_ForexAndInterestSwapOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForexAndInterestSwapOneMember_2" xml:lang="en-US" id="label_ForexAndInterestSwapOneMember_2">FX and interest swap, one</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapOneMember" xlink:to="label_ForexAndInterestSwapOneMember_2" xlink:title="Label : ForexAndInterestSwapOneMember to label_ForexAndInterestSwapOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ForexAndInterestSwapTwoMember" xlink:label="ForexAndInterestSwapTwoMember" xlink:title="ForexAndInterestSwapTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ForexAndInterestSwapTwoMember" xml:lang="en-US" id="label_ForexAndInterestSwapTwoMember">Forex and interest swap, two [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapTwoMember" xlink:to="label_ForexAndInterestSwapTwoMember" xlink:title="Label : ForexAndInterestSwapTwoMember to label_ForexAndInterestSwapTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ForexAndInterestSwapTwoMember_1" xml:lang="en-US" id="label_ForexAndInterestSwapTwoMember_1">This member stands for the information pertaining to forex and interest swap, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapTwoMember" xlink:to="label_ForexAndInterestSwapTwoMember_1" xlink:title="Label : ForexAndInterestSwapTwoMember to label_ForexAndInterestSwapTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ForexAndInterestSwapTwoMember_2" xml:lang="en-US" id="label_ForexAndInterestSwapTwoMember_2">FX and interest swap, two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapTwoMember" xlink:to="label_ForexAndInterestSwapTwoMember_2" xlink:title="Label : ForexAndInterestSwapTwoMember to label_ForexAndInterestSwapTwoMember_2" />
    <link:label xlink:type="resource" xlink:label="label_CurrencySwapContractMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CurrencySwapContractMember_1" xml:lang="en-US" id="label_CurrencySwapContractMember_1">Currency swap contract [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencySwapContractMember" xlink:to="label_CurrencySwapContractMember_1" xlink:title="Label : CurrencySwapContractMember to label_CurrencySwapContractMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateSwapContractMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_InterestRateSwapContractMember_2" xml:lang="en-US" id="label_InterestRateSwapContractMember_2">Interest rate Objects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateSwapContractMember" xlink:to="label_InterestRateSwapContractMember_2" xlink:title="Label : InterestRateSwapContractMember to label_InterestRateSwapContractMember_2" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LaterThanFourYearsMember" xlink:label="LaterThanFourYearsMember" xlink:title="LaterThanFourYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFourYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFourYearsMember" xml:lang="en-US" id="label_LaterThanFourYearsMember">Above 2025</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OtherFinancialAssetMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_OtherFinancialAssetMember_3" xml:lang="en-US" id="label_OtherFinancialAssetMember_3">Restricted cash [member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodOfShortTermInvestmentsClassifiedAsCashAndCashEquivalents" xlink:label="MaturityPeriodOfShortTermInvestmentsClassifiedAsCashAndCashEquivalents" xlink:title="MaturityPeriodOfShortTermInvestmentsClassifiedAsCashAndCashEquivalents" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PeriodOfFixedTermOfRepurchaseAgreements" xlink:label="PeriodOfFixedTermOfRepurchaseAgreements" xlink:title="PeriodOfFixedTermOfRepurchaseAgreements" />
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    <link:label xlink:type="resource" xlink:label="label_PeriodOfFixedTermOfRepurchaseAgreements_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodOfFixedTermOfRepurchaseAgreements_1" xml:lang="en-US" id="label_PeriodOfFixedTermOfRepurchaseAgreements_1">Period of fixed term of repurchase agreements</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:label="PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:title="PenaltiesForEarlyRedemptionOfRepurchaseAgreements" />
    <link:label xlink:type="resource" xlink:label="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xml:lang="en-US" id="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements">Penalties for Early Redemption of Repurchase Agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:to="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:title="Label : PenaltiesForEarlyRedemptionOfRepurchaseAgreements to label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements" />
    <link:label xlink:type="resource" xlink:label="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_1" xml:lang="en-US" id="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_1">Penalties for early redemption of repurchase agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:to="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_1" xlink:title="Label : PenaltiesForEarlyRedemptionOfRepurchaseAgreements to label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_1" />
    <link:label xlink:type="resource" xlink:label="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_2" xml:lang="en-US" id="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_2">The amount of penalties for early redemption of repurchase agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PenaltiesForEarlyRedemptionOfRepurchaseAgreements" xlink:to="label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_2" xlink:title="Label : PenaltiesForEarlyRedemptionOfRepurchaseAgreements to label_PenaltiesForEarlyRedemptionOfRepurchaseAgreements_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" xlink:label="MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" xlink:title="MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" />
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    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents_2" xml:lang="en-US" id="label_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents_2">The maturity period of bank deposit certificates classified as cash and cash equivalents.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" xlink:to="label_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents_2" xlink:title="Label : MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents to label_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" xlink:label="MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" xlink:title="MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" xml:lang="en-US" id="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash">Maturity Period of Government Bonds, Marketable Securities and Restricted Cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" xlink:to="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" xlink:title="Label : MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash to label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" />
    <link:label xlink:type="resource" xlink:label="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash_1" xml:lang="en-US" id="label_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash_1">The maturity period of government bonds are classified as marketable securities and restricted cash.</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction" xlink:label="ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction" xlink:title="ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction" />
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    <link:label xlink:type="resource" xlink:label="label_ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction_1" xml:lang="en-US" id="label_ExplanationOfDetailsOfGuaranteesGivenOrReceivedOfOutstandingBalancesForRelatedPartyTransaction_1">Explanation of details of guarantees given or received of outstanding balances for related party transaction</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:label="ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:title="ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" />
    <link:label xlink:type="resource" xlink:label="label_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xml:lang="en-US" id="label_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction">Expense recognised during period for bad and doubtful debts for related party transaction</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_1" xml:lang="en-US" id="label_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_1">Impairment of receivables</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PeriodOfLeaseTermOfShortTermLeases" xlink:label="PeriodOfLeaseTermOfShortTermLeases" xlink:title="PeriodOfLeaseTermOfShortTermLeases" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfLeaseTermOfShortTermLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfLeaseTermOfShortTermLeases" xml:lang="en-US" id="label_PeriodOfLeaseTermOfShortTermLeases">Period of Lease Term of Short Term Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfLeaseTermOfShortTermLeases" xlink:to="label_PeriodOfLeaseTermOfShortTermLeases" xlink:title="Label : PeriodOfLeaseTermOfShortTermLeases to label_PeriodOfLeaseTermOfShortTermLeases" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfLeaseTermOfShortTermLeases_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodOfLeaseTermOfShortTermLeases_1" xml:lang="en-US" id="label_PeriodOfLeaseTermOfShortTermLeases_1">The period of lease term of short-term leases upon lease contract.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfLeaseTermOfShortTermLeases" xlink:to="label_PeriodOfLeaseTermOfShortTermLeases_1" xlink:title="Label : PeriodOfLeaseTermOfShortTermLeases to label_PeriodOfLeaseTermOfShortTermLeases_1" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfLeaseTermOfShortTermLeases_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodOfLeaseTermOfShortTermLeases_2" xml:lang="en-US" id="label_PeriodOfLeaseTermOfShortTermLeases_2">Period of lease term of short-term leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfLeaseTermOfShortTermLeases" xlink:to="label_PeriodOfLeaseTermOfShortTermLeases_2" xlink:title="Label : PeriodOfLeaseTermOfShortTermLeases to label_PeriodOfLeaseTermOfShortTermLeases_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:label="TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:title="TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xml:lang="en-US" id="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities">Tax Credit on Import of Goods or Services Included in Lease Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:to="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:title="Label : TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities to label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_1" xml:lang="en-US" id="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_1">Tax credit on import of goods or services included in lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:to="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_1" xlink:title="Label : TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities to label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_2" xml:lang="en-US" id="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_2">The amount of tax credit on import of goods or services included in lease liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" xlink:to="label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_2" xlink:title="Label : TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities to label_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_MalhaCentralContractAndMalhaPaulistaContractMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MalhaCentralContractAndMalhaPaulistaContractMember_2" xml:lang="en-US" id="label_MalhaCentralContractAndMalhaPaulistaContractMember_2">Malha Central Contract and Malha Paulista Contract [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MalhaCentralContractAndMalhaPaulistaContractMember" xlink:to="label_MalhaCentralContractAndMalhaPaulistaContractMember_2" xlink:title="Label : MalhaCentralContractAndMalhaPaulistaContractMember to label_MalhaCentralContractAndMalhaPaulistaContractMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:label="TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:title="TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" />
    <link:label xlink:type="resource" xlink:label="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xml:lang="en-US" id="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer">Target Percentage of Greenhouse Gas Emissions Reduction Per Ton of Useful Kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:title="Label : TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" />
    <link:label xlink:type="resource" xlink:label="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xml:lang="en-US" id="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1">Target percentage of greenhouse gas emissions reduction per ton of useful kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xlink:title="Label : TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" />
    <link:label xlink:type="resource" xlink:label="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xml:lang="en-US" id="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2">The target percentage of greenhouse gas emissions reduction per ton of useful kilometer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xlink:title="Label : TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:label="DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:title="DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xml:lang="en-US" id="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals">Description of Estimated Interest Rate Increase for Non Compliance for Fulfilment of Environment Goals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:to="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:title="Label : DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals to label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" xml:lang="en-US" id="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1">Description of estimated interest rate increase for non-compliance for fulfilment of environment goals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:to="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" xlink:title="Label : DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals to label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" />
    <link:label xlink:type="resource" xlink:label="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" xml:lang="en-US" id="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2">The description of estimated interest rate increase for non-compliance for fulfilment of environment goals such as greenhouse gas emissions, usage of recycled plastic in packaging.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:to="label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" xlink:title="Label : DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals to label_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:label="EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:title="EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xml:lang="en-US" id="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals">Estimated Interest Rate Increase for Non Compliance for Fulfilment of Environment Goals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:to="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:title="Label : EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals to label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" xml:lang="en-US" id="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1">Estimated interest rate increase for non-compliance for fulfilment of environment goals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:to="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" xlink:title="Label : EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals to label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_1" />
    <link:label xlink:type="resource" xlink:label="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" xml:lang="en-US" id="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2">The estimated interest rate increase for non-compliance for fulfilment of environment goals such as greenhouse gas emissions, usage of recycled plastic in packaging.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" xlink:to="label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" xlink:title="Label : EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals to label_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:label="NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:title="NumberOfPriceComponentsInNaturalGasSupplyContracts" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPriceComponentsInNaturalGasSupplyContracts" xml:lang="en-US" id="label_NumberOfPriceComponentsInNaturalGasSupplyContracts">Number of Price Components in Natural Gas Supply Contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:to="label_NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:title="Label : NumberOfPriceComponentsInNaturalGasSupplyContracts to label_NumberOfPriceComponentsInNaturalGasSupplyContracts" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_1" xml:lang="en-US" id="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_1">Number of price components in natural gas supply contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:to="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_1" xlink:title="Label : NumberOfPriceComponentsInNaturalGasSupplyContracts to label_NumberOfPriceComponentsInNaturalGasSupplyContracts_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_2" xml:lang="en-US" id="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_2">The number of price components in natural gas supply contracts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPriceComponentsInNaturalGasSupplyContracts" xlink:to="label_NumberOfPriceComponentsInNaturalGasSupplyContracts_2" xlink:title="Label : NumberOfPriceComponentsInNaturalGasSupplyContracts to label_NumberOfPriceComponentsInNaturalGasSupplyContracts_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="LaterThanOneYearAndNotLaterThanFiveYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanFiveYearsMember">Later than one year and not later than five years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:title="Label : LaterThanOneYearAndNotLaterThanFiveYearsMember to label_LaterThanOneYearAndNotLaterThanFiveYearsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:label="LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:title="LaterThanFiveYearsAndNotLaterThanTenYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember">Later than five years and not later than ten years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanTenYearsMember to label_LaterThanFiveYearsAndNotLaterThanTenYearsMember" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_1" xml:lang="en-US" id="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_1">2026 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="label_LaterThanOneYearAndNotLaterThanFiveYearsMember_1" xlink:title="Label : LaterThanOneYearAndNotLaterThanFiveYearsMember to label_LaterThanOneYearAndNotLaterThanFiveYearsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember_1" xml:lang="en-US" id="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember_1">2030 [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:to="label_LaterThanFiveYearsAndNotLaterThanTenYearsMember_1" xlink:title="Label : LaterThanFiveYearsAndNotLaterThanTenYearsMember to label_LaterThanFiveYearsAndNotLaterThanTenYearsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScenarioOneMember" xlink:label="ScenarioOneMember" xlink:title="ScenarioOneMember" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScenarioOneMember" xml:lang="en-US" id="label_ScenarioOneMember">Scenario one [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioOneMember" xlink:to="label_ScenarioOneMember" xlink:title="Label : ScenarioOneMember to label_ScenarioOneMember" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioOneMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScenarioOneMember_1" xml:lang="en-US" id="label_ScenarioOneMember_1">This member stands for the information pertaining to scenario one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioOneMember" xlink:to="label_ScenarioOneMember_1" xlink:title="Label : ScenarioOneMember to label_ScenarioOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScenarioOneMember_2" xml:lang="en-US" id="label_ScenarioOneMember_2">Variation scenario +/- 25%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioOneMember" xlink:to="label_ScenarioOneMember_2" xlink:title="Label : ScenarioOneMember to label_ScenarioOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ScenarioTwoMember" xlink:label="ScenarioTwoMember" xlink:title="ScenarioTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ScenarioTwoMember" xml:lang="en-US" id="label_ScenarioTwoMember">Scenario two [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioTwoMember" xlink:to="label_ScenarioTwoMember" xlink:title="Label : ScenarioTwoMember to label_ScenarioTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ScenarioTwoMember_1" xml:lang="en-US" id="label_ScenarioTwoMember_1">This member stands for the information pertaining to scenario two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioTwoMember" xlink:to="label_ScenarioTwoMember_1" xlink:title="Label : ScenarioTwoMember to label_ScenarioTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ScenarioTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ScenarioTwoMember_2" xml:lang="en-US" id="label_ScenarioTwoMember_2">Variation scenario +/- 50%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScenarioTwoMember" xlink:to="label_ScenarioTwoMember_2" xlink:title="Label : ScenarioTwoMember to label_ScenarioTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PurchaseCommitments" xlink:label="PurchaseCommitments" xlink:title="PurchaseCommitments" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PurchaseCommitments" xml:lang="en-US" id="label_PurchaseCommitments">Purchase commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseCommitments" xlink:to="label_PurchaseCommitments" xlink:title="Label : PurchaseCommitments to label_PurchaseCommitments" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseCommitments_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PurchaseCommitments_1" xml:lang="en-US" id="label_PurchaseCommitments_1">The amount of purchase commitments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseCommitments" xlink:to="label_PurchaseCommitments_1" xlink:title="Label : PurchaseCommitments to label_PurchaseCommitments_1" />
    <link:label xlink:type="resource" xlink:label="label_PurchaseCommitments_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PurchaseCommitments_2" xml:lang="en-US" id="label_PurchaseCommitments_2">Purchase commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PurchaseCommitments" xlink:to="label_PurchaseCommitments_2" xlink:title="Label : PurchaseCommitments to label_PurchaseCommitments_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaximumPercentageOfDebtInstrumentNotProtected" xlink:label="MaximumPercentageOfDebtInstrumentNotProtected" xlink:title="MaximumPercentageOfDebtInstrumentNotProtected" />
    <link:label xlink:type="resource" xlink:label="label_MaximumPercentageOfDebtInstrumentNotProtected" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaximumPercentageOfDebtInstrumentNotProtected" xml:lang="en-US" id="label_MaximumPercentageOfDebtInstrumentNotProtected">Maximum percentage of debt instrument not protected</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfHowEntityEstablishesHedgeRatioAndWhatSourcesOfHedgeIneffectivenessAre" xlink:label="DescriptionOfHowEntityEstablishesHedgeRatioAndWhatSourcesOfHedgeIneffectivenessAre" xlink:title="DescriptionOfHowEntityEstablishesHedgeRatioAndWhatSourcesOfHedgeIneffectivenessAre" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:label="PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:title="PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xml:lang="en-US" id="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables">Percentage of reasonably possible increase (decrease) in associated risk variables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:to="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:title="Label : PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables to label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_1" xml:lang="en-US" id="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_1">The percentage of reasonably possible increase (decrease) in associated risk variables in financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:to="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_1" xlink:title="Label : PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables to label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_2" xml:lang="en-US" id="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_2">Percentage of reasonably possible increase (decrease) in associated risk variables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" xlink:to="label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_2" xlink:title="Label : PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables to label_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:label="NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:title="NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xml:lang="en-US" id="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables">Number of categories of customers in credit risk of lease receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:to="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:title="Label : NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables to label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_1" xml:lang="en-US" id="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_1">The number of categories of customers in credit risk of lease receivables.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:to="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_1" xlink:title="Label : NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables to label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_2" xml:lang="en-US" id="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_2">Number of categories of customers in credit risk of lease receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" xlink:to="label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_2" xlink:title="Label : NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables to label_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables_2" />
    <link:label xlink:type="resource" xlink:label="label_InterestRateRiskMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_InterestRateRiskMember_2" xml:lang="en-US" id="label_InterestRateRiskMember_2">Interest rate risk</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestRateRiskMember" xlink:to="label_InterestRateRiskMember_2" xlink:title="Label : InterestRateRiskMember to label_InterestRateRiskMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="TaxContingentLiabilityMember" xlink:title="TaxContingentLiabilityMember" />
    <link:label xlink:type="resource" xlink:label="label_TaxContingentLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TaxContingentLiabilityMember" xml:lang="en-US" id="label_TaxContingentLiabilityMember">Tax contingent liability [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxContingentLiabilityMember" xlink:to="label_TaxContingentLiabilityMember" xlink:title="Label : TaxContingentLiabilityMember to label_TaxContingentLiabilityMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:label="NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:title="NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xml:lang="en-US" id="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement">Number of instruments granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:to="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:title="Label : NumberOfInstrumentsGrantedInSharebasedPaymentArrangement to label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_1" xml:lang="en-US" id="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_1">Number of share options granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:to="label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_1" xlink:title="Label : NumberOfInstrumentsGrantedInSharebasedPaymentArrangement to label_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_1" />
    <link:label xlink:type="resource" xlink:label="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_1" xml:lang="en-US" id="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_1">Assumptions Used in Discounted Cash Flow Projections Period of Long Term Growth</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:to="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_1" xlink:title="Label : AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth to label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_1" />
    <link:label xlink:type="resource" xlink:label="label_DerivativeFinancialInstruments_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_DerivativeFinancialInstruments_3" xml:lang="en-US" id="label_DerivativeFinancialInstruments_3">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DerivativeFinancialInstruments" xlink:to="label_DerivativeFinancialInstruments_3" xlink:title="Label : DerivativeFinancialInstruments to label_DerivativeFinancialInstruments_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:label="RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:title="RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" />
    <link:label xlink:type="resource" xlink:label="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xml:lang="en-US" id="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer">Rate of Greenhouse Gas Emissions Reduction Per Ton of Useful Kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:title="Label : RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:label="TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:title="TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" />
    <link:label xlink:type="resource" xlink:label="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xml:lang="en-US" id="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer">Target Rate of Greenhouse Gas Emissions Reduction Per Ton of Useful Kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:title="Label : TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" />
    <link:label xlink:type="resource" xlink:label="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xml:lang="en-US" id="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1">Target rate of greenhouse gas emissions reduction per ton of useful kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xlink:title="Label : TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapTwoMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ForexAndInterestSwapTwoMember_3" xml:lang="en-US" id="label_ForexAndInterestSwapTwoMember_3">Foreign exchange and interest swap, two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapTwoMember" xlink:to="label_ForexAndInterestSwapTwoMember_3" xlink:title="Label : ForexAndInterestSwapTwoMember to label_ForexAndInterestSwapTwoMember_3" />
    <link:label xlink:type="resource" xlink:label="label_ForexAndInterestSwapOneMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ForexAndInterestSwapOneMember_3" xml:lang="en-US" id="label_ForexAndInterestSwapOneMember_3">Foreign exchange and interest swap, one</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ForexAndInterestSwapOneMember" xlink:to="label_ForexAndInterestSwapOneMember_3" xlink:title="Label : ForexAndInterestSwapOneMember to label_ForexAndInterestSwapOneMember_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:label="IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:title="IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability">The increase in sector financial asset (liability) resulting from other revenue.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:to="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:title="Label : IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability to label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="label_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LocalPhoneNumber" xml:lang="en-US" id="label_LocalPhoneNumber">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="label_LocalPhoneNumber" xlink:title="Label : LocalPhoneNumber to label_LocalPhoneNumber" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:label="IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:title="IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability">The increase in sector financial asset (liability) resulting from interest income (expenses).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:to="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:title="Label : IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability to label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_1">Increase (Decrease) Through Other Revenue Sector Financial Asset Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:to="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_1" xlink:title="Label : IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability to label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_1">Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:to="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_1" xlink:title="Label : IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability to label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_2">Other revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" xlink:to="label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_2" xlink:title="Label : IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability to label_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability_2" />
    <link:label xlink:type="resource" xlink:label="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xml:lang="en-US" id="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2">The target rate of greenhouse gas emissions reduction per ton of useful kilometer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xlink:title="Label : TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" />
    <link:label xlink:type="resource" xlink:label="label_TellusEJanusSharesMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TellusEJanusSharesMember_2" xml:lang="en-US" id="label_TellusEJanusSharesMember_2">Tellus E Janus Shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TellusEJanusSharesMember" xlink:to="label_TellusEJanusSharesMember_2" xlink:title="Label : TellusEJanusSharesMember to label_TellusEJanusSharesMember_2" />
    <link:label xlink:type="resource" xlink:label="label_ESGFundMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_ESGFundMember_3" xml:lang="en-US" id="label_ESGFundMember_3">ESG funds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ESGFundMember" xlink:to="label_ESGFundMember_3" xlink:title="Label : ESGFundMember to label_ESGFundMember_3" />
    <link:label xlink:type="resource" xlink:label="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xml:lang="en-US" id="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1">The rate of greenhouse gas emissions reduction per ton of useful kilometer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" xlink:title="Label : RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_1" />
    <link:label xlink:type="resource" xlink:label="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xml:lang="en-US" id="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2">Rate of greenhouse gas emissions reduction per ton of useful kilometer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" xlink:to="label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" xlink:title="Label : RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer to label_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AwardTypesAxis" xlink:label="AwardTypesAxis" xlink:title="AwardTypesAxis" />
    <link:label xlink:type="resource" xlink:label="label_AwardTypesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AwardTypesAxis" xml:lang="en-US" id="label_AwardTypesAxis">Award Types [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AwardTypesAxis" xlink:to="label_AwardTypesAxis" xlink:title="Label : AwardTypesAxis to label_AwardTypesAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestIncomeOnCashAndCashEquivalents" xlink:label="InterestIncomeOnCashAndCashEquivalents" xlink:title="InterestIncomeOnCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_InterestIncomeOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestIncomeOnCashAndCashEquivalents" xml:lang="en-US" id="label_InterestIncomeOnCashAndCashEquivalents">Income from financial investment and exchange rate in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeOnCashAndCashEquivalents" xlink:to="label_InterestIncomeOnCashAndCashEquivalents" xlink:title="Label : InterestIncomeOnCashAndCashEquivalents to label_InterestIncomeOnCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_InterestIncomeOnCashAndCashEquivalents_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestIncomeOnCashAndCashEquivalents_1" xml:lang="en-US" id="label_InterestIncomeOnCashAndCashEquivalents_1">Interest income on cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestIncomeOnCashAndCashEquivalents" xlink:to="label_InterestIncomeOnCashAndCashEquivalents_1" xlink:title="Label : InterestIncomeOnCashAndCashEquivalents to label_InterestIncomeOnCashAndCashEquivalents_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:label="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:title="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" />
    <link:label xlink:type="resource" xlink:label="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xml:lang="en-US" id="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare">Anti-dilutive instruments excluded from computation of earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:to="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:title="Label : AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare to label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" />
    <link:label xlink:type="resource" xlink:label="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_1" xml:lang="en-US" id="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_1">Antidilutive Securities Excluded from Computation of Earnings Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:to="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_1" xlink:title="Label : AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare to label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfCategoriesOfPotentialDilutiveEffects" xlink:label="NumberOfCategoriesOfPotentialDilutiveEffects" xlink:title="NumberOfCategoriesOfPotentialDilutiveEffects" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCategoriesOfPotentialDilutiveEffects" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfCategoriesOfPotentialDilutiveEffects" xml:lang="en-US" id="label_NumberOfCategoriesOfPotentialDilutiveEffects">The number of categories of potential dilutive effects.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCategoriesOfPotentialDilutiveEffects" xlink:to="label_NumberOfCategoriesOfPotentialDilutiveEffects" xlink:title="Label : NumberOfCategoriesOfPotentialDilutiveEffects to label_NumberOfCategoriesOfPotentialDilutiveEffects" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCategoriesOfPotentialDilutiveEffects_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfCategoriesOfPotentialDilutiveEffects_1" xml:lang="en-US" id="label_NumberOfCategoriesOfPotentialDilutiveEffects_1">Number of categories of potential dilutive effects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCategoriesOfPotentialDilutiveEffects" xlink:to="label_NumberOfCategoriesOfPotentialDilutiveEffects_1" xlink:title="Label : NumberOfCategoriesOfPotentialDilutiveEffects to label_NumberOfCategoriesOfPotentialDilutiveEffects_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfCategoriesOfPotentialDilutiveEffects_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfCategoriesOfPotentialDilutiveEffects_2" xml:lang="en-US" id="label_NumberOfCategoriesOfPotentialDilutiveEffects_2">Number of Categories of Potential Dilutive Effects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCategoriesOfPotentialDilutiveEffects" xlink:to="label_NumberOfCategoriesOfPotentialDilutiveEffects_2" xlink:title="Label : NumberOfCategoriesOfPotentialDilutiveEffects to label_NumberOfCategoriesOfPotentialDilutiveEffects_2" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NoncurrentDerivativeFinancialLiabilities_2" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialLiabilities_2">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialLiabilities" xlink:to="label_NoncurrentDerivativeFinancialLiabilities_2" xlink:title="Label : NoncurrentDerivativeFinancialLiabilities to label_NoncurrentDerivativeFinancialLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialLiabilities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CurrentDerivativeFinancialLiabilities_2" xml:lang="en-US" id="label_CurrentDerivativeFinancialLiabilities_2">Derivative financial instruments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialLiabilities" xlink:to="label_CurrentDerivativeFinancialLiabilities_2" xlink:title="Label : CurrentDerivativeFinancialLiabilities to label_CurrentDerivativeFinancialLiabilities_2" />
    <link:label xlink:type="resource" xlink:label="label_NoncurrentDerivativeFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NoncurrentDerivativeFinancialAssets_2" xml:lang="en-US" id="label_NoncurrentDerivativeFinancialAssets_2">Non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncurrentDerivativeFinancialAssets" xlink:to="label_NoncurrentDerivativeFinancialAssets_2" xlink:title="Label : NoncurrentDerivativeFinancialAssets to label_NoncurrentDerivativeFinancialAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_CurrentDerivativeFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CurrentDerivativeFinancialAssets_2" xml:lang="en-US" id="label_CurrentDerivativeFinancialAssets_2">Current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentDerivativeFinancialAssets" xlink:to="label_CurrentDerivativeFinancialAssets_2" xlink:title="Label : CurrentDerivativeFinancialAssets to label_CurrentDerivativeFinancialAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_2">Increase (Decrease) Through Interest Income Expenses Sector Financial Asset Liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" xlink:to="label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_2" xlink:title="Label : IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability to label_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_IncreaseDecreaseThroughPredecessorAdjustments" xlink:label="IncreaseDecreaseThroughPredecessorAdjustments" xlink:title="IncreaseDecreaseThroughPredecessorAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughPredecessorAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseThroughPredecessorAdjustments" xml:lang="en-US" id="label_IncreaseDecreaseThroughPredecessorAdjustments">Predecessor adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughPredecessorAdjustments" xlink:to="label_IncreaseDecreaseThroughPredecessorAdjustments" xlink:title="Label : IncreaseDecreaseThroughPredecessorAdjustments to label_IncreaseDecreaseThroughPredecessorAdjustments" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughPredecessorAdjustments_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_IncreaseDecreaseThroughPredecessorAdjustments_1" xml:lang="en-US" id="label_IncreaseDecreaseThroughPredecessorAdjustments_1">The increase (decrease) in equity through changes in predecessor adjustments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughPredecessorAdjustments" xlink:to="label_IncreaseDecreaseThroughPredecessorAdjustments_1" xlink:title="Label : IncreaseDecreaseThroughPredecessorAdjustments to label_IncreaseDecreaseThroughPredecessorAdjustments_1" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseThroughPredecessorAdjustments_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseThroughPredecessorAdjustments_2" xml:lang="en-US" id="label_IncreaseDecreaseThroughPredecessorAdjustments_2">Increase (decrease) through predecessor adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseThroughPredecessorAdjustments" xlink:to="label_IncreaseDecreaseThroughPredecessorAdjustments_2" xlink:title="Label : IncreaseDecreaseThroughPredecessorAdjustments to label_IncreaseDecreaseThroughPredecessorAdjustments_2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationDocumentAxis" xlink:label="DocumentInformationDocumentAxis" xlink:title="DocumentInformationDocumentAxis" />
    <link:label xlink:type="resource" xlink:label="label_DocumentInformationDocumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentInformationDocumentAxis" xml:lang="en-US" id="label_DocumentInformationDocumentAxis">Document Information, Document [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentInformationDocumentAxis" xlink:to="label_DocumentInformationDocumentAxis" xlink:title="Label : DocumentInformationDocumentAxis to label_DocumentInformationDocumentAxis" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentDomain" xlink:label="DocumentDomain" xlink:title="DocumentDomain" />
    <link:label xlink:type="resource" xlink:label="label_DocumentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentDomain" xml:lang="en-US" id="label_DocumentDomain">Document [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentDomain" xlink:to="label_DocumentDomain" xlink:title="Label : DocumentDomain to label_DocumentDomain" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressesAddressTypeAxis" xlink:label="EntityAddressesAddressTypeAxis" xlink:title="EntityAddressesAddressTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressesAddressTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressesAddressTypeAxis" xml:lang="en-US" id="label_EntityAddressesAddressTypeAxis">Entity Addresses, Address Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressesAddressTypeAxis" xlink:to="label_EntityAddressesAddressTypeAxis" xlink:title="Label : EntityAddressesAddressTypeAxis to label_EntityAddressesAddressTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AddressTypeDomain" xlink:label="AddressTypeDomain" xlink:title="AddressTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_AddressTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AddressTypeDomain" xml:lang="en-US" id="label_AddressTypeDomain">Address Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AddressTypeDomain" xlink:to="label_AddressTypeDomain" xlink:title="Label : AddressTypeDomain to label_AddressTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_BusinessContactMember" xlink:label="BusinessContactMember" xlink:title="BusinessContactMember" />
    <link:label xlink:type="resource" xlink:label="label_BusinessContactMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BusinessContactMember" xml:lang="en-US" id="label_BusinessContactMember">Business Contact [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessContactMember" xlink:to="label_BusinessContactMember" xlink:title="Label : BusinessContactMember to label_BusinessContactMember" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentRegistrationStatement" xlink:label="DocumentRegistrationStatement" xlink:title="DocumentRegistrationStatement" />
    <link:label xlink:type="resource" xlink:label="label_DocumentRegistrationStatement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentRegistrationStatement" xml:lang="en-US" id="label_DocumentRegistrationStatement">Document Registration Statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentRegistrationStatement" xlink:to="label_DocumentRegistrationStatement" xlink:title="Label : DocumentRegistrationStatement to label_DocumentRegistrationStatement" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityInformationLineItems" xlink:label="EntityInformationLineItems" xlink:title="EntityInformationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityInformationLineItems" xml:lang="en-US" id="label_EntityInformationLineItems">Entity Information [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityInformationLineItems" xlink:to="label_EntityInformationLineItems" xlink:title="Label : EntityInformationLineItems to label_EntityInformationLineItems" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFileNumber" xlink:label="EntityFileNumber" xlink:title="EntityFileNumber" />
    <link:label xlink:type="resource" xlink:label="label_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityFileNumber" xml:lang="en-US" id="label_EntityFileNumber">Entity File Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityFileNumber" xlink:to="label_EntityFileNumber" xlink:title="Label : EntityFileNumber to label_EntityFileNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
    <link:label xlink:type="resource" xlink:label="label_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityIncorporationStateCountryCode" xml:lang="en-US" id="label_EntityIncorporationStateCountryCode">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityIncorporationStateCountryCode" xlink:to="label_EntityIncorporationStateCountryCode" xlink:title="Label : EntityIncorporationStateCountryCode to label_EntityIncorporationStateCountryCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_ContactPersonnelName" xlink:label="ContactPersonnelName" xlink:title="ContactPersonnelName" />
    <link:label xlink:type="resource" xlink:label="label_ContactPersonnelName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContactPersonnelName" xml:lang="en-US" id="label_ContactPersonnelName">Contact Personnel Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContactPersonnelName" xlink:to="label_ContactPersonnelName" xlink:title="Label : ContactPersonnelName to label_ContactPersonnelName" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressAddressLine1" xml:lang="en-US" id="label_EntityAddressAddressLine1">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine1" xlink:to="label_EntityAddressAddressLine1" xlink:title="Label : EntityAddressAddressLine1 to label_EntityAddressAddressLine1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressCityOrTown" xml:lang="en-US" id="label_EntityAddressCityOrTown">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCityOrTown" xlink:to="label_EntityAddressCityOrTown" xlink:title="Label : EntityAddressCityOrTown to label_EntityAddressCityOrTown" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
    <link:label xlink:type="resource" xlink:label="label_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EntityAddressPostalZipCode" xml:lang="en-US" id="label_EntityAddressPostalZipCode">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressPostalZipCode" xlink:to="label_EntityAddressPostalZipCode" xlink:title="Label : EntityAddressPostalZipCode to label_EntityAddressPostalZipCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
    <link:label xlink:type="resource" xlink:label="label_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CityAreaCode" xml:lang="en-US" id="label_CityAreaCode">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CityAreaCode" xlink:to="label_CityAreaCode" xlink:title="Label : CityAreaCode to label_CityAreaCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_IcfrAuditorAttestationFlag" xlink:label="IcfrAuditorAttestationFlag" xlink:title="IcfrAuditorAttestationFlag" />
    <link:label xlink:type="resource" xlink:label="label_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IcfrAuditorAttestationFlag" xml:lang="en-US" id="label_IcfrAuditorAttestationFlag">ICFR Auditor Attestation Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IcfrAuditorAttestationFlag" xlink:to="label_IcfrAuditorAttestationFlag" xlink:title="Label : IcfrAuditorAttestationFlag to label_IcfrAuditorAttestationFlag" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAccountingStandard" xlink:label="DocumentAccountingStandard" xlink:title="DocumentAccountingStandard" />
    <link:label xlink:type="resource" xlink:label="label_DocumentAccountingStandard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentAccountingStandard" xml:lang="en-US" id="label_DocumentAccountingStandard">Document Accounting Standard</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentAccountingStandard" xlink:to="label_DocumentAccountingStandard" xlink:title="Label : DocumentAccountingStandard to label_DocumentAccountingStandard" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CommonSharesMember" xlink:label="CommonSharesMember" xlink:title="CommonSharesMember" />
    <link:label xlink:type="resource" xlink:label="label_CommonSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonSharesMember" xml:lang="en-US" id="label_CommonSharesMember">Common Shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonSharesMember" xlink:to="label_CommonSharesMember" xlink:title="Label : CommonSharesMember to label_CommonSharesMember" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AdrMember" xlink:label="AdrMember" xlink:title="AdrMember" />
    <link:label xlink:type="resource" xlink:label="label_AdrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdrMember" xml:lang="en-US" id="label_AdrMember">ADR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdrMember" xlink:to="label_AdrMember" xlink:title="Label : AdrMember to label_AdrMember" />
    <link:label xlink:type="resource" xlink:label="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_2" xml:lang="en-US" id="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_2">The number of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" xlink:to="label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_2" xlink:title="Label : AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare to label_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_VestingPeriodShareOptionsGranted" xlink:label="VestingPeriodShareOptionsGranted" xlink:title="VestingPeriodShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_VestingPeriodShareOptionsGranted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingPeriodShareOptionsGranted" xml:lang="en-US" id="label_VestingPeriodShareOptionsGranted">Vesting Period Share Options Granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingPeriodShareOptionsGranted" xlink:to="label_VestingPeriodShareOptionsGranted" xlink:title="Label : VestingPeriodShareOptionsGranted to label_VestingPeriodShareOptionsGranted" />
    <link:label xlink:type="resource" xlink:label="label_VestingPeriodShareOptionsGranted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingPeriodShareOptionsGranted_1" xml:lang="en-US" id="label_VestingPeriodShareOptionsGranted_1">Vesting period of share-based payment arrangement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingPeriodShareOptionsGranted" xlink:to="label_VestingPeriodShareOptionsGranted_1" xlink:title="Label : VestingPeriodShareOptionsGranted to label_VestingPeriodShareOptionsGranted_1" />
    <link:label xlink:type="resource" xlink:label="label_VestingPeriodShareOptionsGranted_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_VestingPeriodShareOptionsGranted_2" xml:lang="en-US" id="label_VestingPeriodShareOptionsGranted_2">The vesting period of shares granted in share-based payment arrangements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingPeriodShareOptionsGranted" xlink:to="label_VestingPeriodShareOptionsGranted_2" xlink:title="Label : VestingPeriodShareOptionsGranted to label_VestingPeriodShareOptionsGranted_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PeriodOfContinuedEmploymentUnderServiceConditions" xlink:label="PeriodOfContinuedEmploymentUnderServiceConditions" xlink:title="PeriodOfContinuedEmploymentUnderServiceConditions" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfContinuedEmploymentUnderServiceConditions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PeriodOfContinuedEmploymentUnderServiceConditions" xml:lang="en-US" id="label_PeriodOfContinuedEmploymentUnderServiceConditions">Period of Continued Employment Under Service Conditions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfContinuedEmploymentUnderServiceConditions" xlink:to="label_PeriodOfContinuedEmploymentUnderServiceConditions" xlink:title="Label : PeriodOfContinuedEmploymentUnderServiceConditions to label_PeriodOfContinuedEmploymentUnderServiceConditions" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfContinuedEmploymentUnderServiceConditions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PeriodOfContinuedEmploymentUnderServiceConditions_1" xml:lang="en-US" id="label_PeriodOfContinuedEmploymentUnderServiceConditions_1">Period of continued employment under service conditions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfContinuedEmploymentUnderServiceConditions" xlink:to="label_PeriodOfContinuedEmploymentUnderServiceConditions_1" xlink:title="Label : PeriodOfContinuedEmploymentUnderServiceConditions to label_PeriodOfContinuedEmploymentUnderServiceConditions_1" />
    <link:label xlink:type="resource" xlink:label="label_PeriodOfContinuedEmploymentUnderServiceConditions_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PeriodOfContinuedEmploymentUnderServiceConditions_2" xml:lang="en-US" id="label_PeriodOfContinuedEmploymentUnderServiceConditions_2">The period of continued employment under service conditions in share-based payment arrangements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodOfContinuedEmploymentUnderServiceConditions" xlink:to="label_PeriodOfContinuedEmploymentUnderServiceConditions_2" xlink:title="Label : PeriodOfContinuedEmploymentUnderServiceConditions to label_PeriodOfContinuedEmploymentUnderServiceConditions_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:label="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:title="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory">Disclosure of terms and conditions of share-based payment arrangement [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_1" xml:lang="en-US" id="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_1">Summary of Share-based payment plan (Equity-settled)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:to="label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_1" xlink:title="Label : DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory to label_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentProgramOneMember" xlink:label="InvestmentProgramOneMember" xlink:title="InvestmentProgramOneMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentProgramOneMember" xml:lang="en-US" id="label_InvestmentProgramOneMember">Investment Program One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramOneMember" xlink:to="label_InvestmentProgramOneMember" xlink:title="Label : InvestmentProgramOneMember to label_InvestmentProgramOneMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramOneMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentProgramOneMember_1" xml:lang="en-US" id="label_InvestmentProgramOneMember_1">Cosan - Investe I</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramOneMember" xlink:to="label_InvestmentProgramOneMember_1" xlink:title="Label : InvestmentProgramOneMember to label_InvestmentProgramOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramOneMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentProgramOneMember_2" xml:lang="en-US" id="label_InvestmentProgramOneMember_2">This member stands for the information pertaining to Investment Program one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramOneMember" xlink:to="label_InvestmentProgramOneMember_2" xlink:title="Label : InvestmentProgramOneMember to label_InvestmentProgramOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentProgramTwoMember" xlink:label="InvestmentProgramTwoMember" xlink:title="InvestmentProgramTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentProgramTwoMember" xml:lang="en-US" id="label_InvestmentProgramTwoMember">Investment Program Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramTwoMember" xlink:to="label_InvestmentProgramTwoMember" xlink:title="Label : InvestmentProgramTwoMember to label_InvestmentProgramTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentProgramTwoMember_1" xml:lang="en-US" id="label_InvestmentProgramTwoMember_1">Cosan - Investe II</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramTwoMember" xlink:to="label_InvestmentProgramTwoMember_1" xlink:title="Label : InvestmentProgramTwoMember to label_InvestmentProgramTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentProgramTwoMember_2" xml:lang="en-US" id="label_InvestmentProgramTwoMember_2">This member stands for the information pertaining to Investment Program two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramTwoMember" xlink:to="label_InvestmentProgramTwoMember_2" xlink:title="Label : InvestmentProgramTwoMember to label_InvestmentProgramTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentProgramThreeMember" xlink:label="InvestmentProgramThreeMember" xlink:title="InvestmentProgramThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentProgramThreeMember" xml:lang="en-US" id="label_InvestmentProgramThreeMember">Investment Program Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramThreeMember" xlink:to="label_InvestmentProgramThreeMember" xlink:title="Label : InvestmentProgramThreeMember to label_InvestmentProgramThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentProgramThreeMember_1" xml:lang="en-US" id="label_InvestmentProgramThreeMember_1">Cosan - Investe III</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramThreeMember" xlink:to="label_InvestmentProgramThreeMember_1" xlink:title="Label : InvestmentProgramThreeMember to label_InvestmentProgramThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentProgramThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentProgramThreeMember_2" xml:lang="en-US" id="label_InvestmentProgramThreeMember_2">This member stands for the information pertaining to Investment Program three.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentProgramThreeMember" xlink:to="label_InvestmentProgramThreeMember_2" xlink:title="Label : InvestmentProgramThreeMember to label_InvestmentProgramThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SpecialProgram2021Member" xlink:label="SpecialProgram2021Member" xlink:title="SpecialProgram2021Member" />
    <link:label xlink:type="resource" xlink:label="label_SpecialProgram2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SpecialProgram2021Member" xml:lang="en-US" id="label_SpecialProgram2021Member">Special Program 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialProgram2021Member" xlink:to="label_SpecialProgram2021Member" xlink:title="Label : SpecialProgram2021Member to label_SpecialProgram2021Member" />
    <link:label xlink:type="resource" xlink:label="label_SpecialProgram2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SpecialProgram2021Member_1" xml:lang="en-US" id="label_SpecialProgram2021Member_1">Special Program 2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialProgram2021Member" xlink:to="label_SpecialProgram2021Member_1" xlink:title="Label : SpecialProgram2021Member to label_SpecialProgram2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_SpecialProgram2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SpecialProgram2021Member_2" xml:lang="en-US" id="label_SpecialProgram2021Member_2">This member stands for the information pertaining to Special Program 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpecialProgram2021Member" xlink:to="label_SpecialProgram2021Member_2" xlink:title="Label : SpecialProgram2021Member to label_SpecialProgram2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherThanSpecialProgram2021Member" xlink:label="OtherThanSpecialProgram2021Member" xlink:title="OtherThanSpecialProgram2021Member" />
    <link:label xlink:type="resource" xlink:label="label_OtherThanSpecialProgram2021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherThanSpecialProgram2021Member" xml:lang="en-US" id="label_OtherThanSpecialProgram2021Member">Other Than Special Program 2021 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherThanSpecialProgram2021Member" xlink:to="label_OtherThanSpecialProgram2021Member" xlink:title="Label : OtherThanSpecialProgram2021Member to label_OtherThanSpecialProgram2021Member" />
    <link:label xlink:type="resource" xlink:label="label_OtherThanSpecialProgram2021Member_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherThanSpecialProgram2021Member_1" xml:lang="en-US" id="label_OtherThanSpecialProgram2021Member_1">Program 2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherThanSpecialProgram2021Member" xlink:to="label_OtherThanSpecialProgram2021Member_1" xlink:title="Label : OtherThanSpecialProgram2021Member to label_OtherThanSpecialProgram2021Member_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherThanSpecialProgram2021Member_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherThanSpecialProgram2021Member_2" xml:lang="en-US" id="label_OtherThanSpecialProgram2021Member_2">This member stands for the information pertaining to Other than Special Program 2021.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherThanSpecialProgram2021Member" xlink:to="label_OtherThanSpecialProgram2021Member_2" xlink:title="Label : OtherThanSpecialProgram2021Member to label_OtherThanSpecialProgram2021Member_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PerformanceStocksMember" xlink:label="PerformanceStocksMember" xlink:title="PerformanceStocksMember" />
    <link:label xlink:type="resource" xlink:label="label_PerformanceStocksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PerformanceStocksMember" xml:lang="en-US" id="label_PerformanceStocksMember">Performance Stocks [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerformanceStocksMember" xlink:to="label_PerformanceStocksMember" xlink:title="Label : PerformanceStocksMember to label_PerformanceStocksMember" />
    <link:label xlink:type="resource" xlink:label="label_PerformanceStocksMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PerformanceStocksMember_1" xml:lang="en-US" id="label_PerformanceStocksMember_1">Performance shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerformanceStocksMember" xlink:to="label_PerformanceStocksMember_1" xlink:title="Label : PerformanceStocksMember to label_PerformanceStocksMember_1" />
    <link:label xlink:type="resource" xlink:label="label_PerformanceStocksMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PerformanceStocksMember_2" xml:lang="en-US" id="label_PerformanceStocksMember_2">This member stands for the information pertaining to Performance stocks.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerformanceStocksMember" xlink:to="label_PerformanceStocksMember_2" xlink:title="Label : PerformanceStocksMember to label_PerformanceStocksMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RestrictedStocksMember" xlink:label="RestrictedStocksMember" xlink:title="RestrictedStocksMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStocksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedStocksMember" xml:lang="en-US" id="label_RestrictedStocksMember">Restricted Stocks [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStocksMember" xlink:to="label_RestrictedStocksMember" xlink:title="Label : RestrictedStocksMember to label_RestrictedStocksMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStocksMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedStocksMember_1" xml:lang="en-US" id="label_RestrictedStocksMember_1">Restricted shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStocksMember" xlink:to="label_RestrictedStocksMember_1" xlink:title="Label : RestrictedStocksMember to label_RestrictedStocksMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedStocksMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RestrictedStocksMember_2" xml:lang="en-US" id="label_RestrictedStocksMember_2">This member stands for the information pertaining to restricted stocks.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedStocksMember" xlink:to="label_RestrictedStocksMember_2" xlink:title="Label : RestrictedStocksMember to label_RestrictedStocksMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_VestingConditionsAbstract" xlink:label="VestingConditionsAbstract" xlink:title="VestingConditionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_VestingConditionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_VestingConditionsAbstract" xml:lang="en-US" id="label_VestingConditionsAbstract">Vesting Conditions [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingConditionsAbstract" xlink:to="label_VestingConditionsAbstract" xlink:title="Label : VestingConditionsAbstract to label_VestingConditionsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_VestingConditionsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_VestingConditionsAbstract_1" xml:lang="en-US" id="label_VestingConditionsAbstract_1">Vesting conditions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VestingConditionsAbstract" xlink:to="label_VestingConditionsAbstract_1" xlink:title="Label : VestingConditionsAbstract to label_VestingConditionsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfAchievementOfSpecificMetrics" xlink:label="PercentageOfAchievementOfSpecificMetrics" xlink:title="PercentageOfAchievementOfSpecificMetrics" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAchievementOfSpecificMetrics" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfAchievementOfSpecificMetrics" xml:lang="en-US" id="label_PercentageOfAchievementOfSpecificMetrics">Percentage of Achievement Of Specific Metrics</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAchievementOfSpecificMetrics" xlink:to="label_PercentageOfAchievementOfSpecificMetrics" xlink:title="Label : PercentageOfAchievementOfSpecificMetrics to label_PercentageOfAchievementOfSpecificMetrics" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAchievementOfSpecificMetrics_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfAchievementOfSpecificMetrics_1" xml:lang="en-US" id="label_PercentageOfAchievementOfSpecificMetrics_1">Percentage of achievement of specific metrics</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAchievementOfSpecificMetrics" xlink:to="label_PercentageOfAchievementOfSpecificMetrics_1" xlink:title="Label : PercentageOfAchievementOfSpecificMetrics to label_PercentageOfAchievementOfSpecificMetrics_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAchievementOfSpecificMetrics_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfAchievementOfSpecificMetrics_2" xml:lang="en-US" id="label_PercentageOfAchievementOfSpecificMetrics_2">The percentage of achievement of specific metrics under the share-based payment programs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAchievementOfSpecificMetrics" xlink:to="label_PercentageOfAchievementOfSpecificMetrics_2" xlink:title="Label : PercentageOfAchievementOfSpecificMetrics to label_PercentageOfAchievementOfSpecificMetrics_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfAchievementToCalculateFairValue" xlink:label="PercentageOfAchievementToCalculateFairValue" xlink:title="PercentageOfAchievementToCalculateFairValue" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAchievementToCalculateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfAchievementToCalculateFairValue" xml:lang="en-US" id="label_PercentageOfAchievementToCalculateFairValue">Percentage of Achievement to Calculate Fair Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAchievementToCalculateFairValue" xlink:to="label_PercentageOfAchievementToCalculateFairValue" xlink:title="Label : PercentageOfAchievementToCalculateFairValue to label_PercentageOfAchievementToCalculateFairValue" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAchievementToCalculateFairValue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfAchievementToCalculateFairValue_1" xml:lang="en-US" id="label_PercentageOfAchievementToCalculateFairValue_1">Percentage of achievement to calculate fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAchievementToCalculateFairValue" xlink:to="label_PercentageOfAchievementToCalculateFairValue_1" xlink:title="Label : PercentageOfAchievementToCalculateFairValue to label_PercentageOfAchievementToCalculateFairValue_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfAchievementToCalculateFairValue_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfAchievementToCalculateFairValue_2" xml:lang="en-US" id="label_PercentageOfAchievementToCalculateFairValue_2">The percentage of achievement to calculate fair value in share-based payment programs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfAchievementToCalculateFairValue" xlink:to="label_PercentageOfAchievementToCalculateFairValue_2" xlink:title="Label : PercentageOfAchievementToCalculateFairValue to label_PercentageOfAchievementToCalculateFairValue_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:label="PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:title="PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xml:lang="en-US" id="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares">Percentage of Long Term Incentive Program whichIs Equivalent to Restricted Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:to="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:title="Label : PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares to label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_1" xml:lang="en-US" id="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_1">Percentage of Long-Term Incentive Program which is equivalent to restricted shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:to="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_1" xlink:title="Label : PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares to label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_2" xml:lang="en-US" id="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_2">The percentage of Long-Term Incentive Program which is equivalent to restricted shares under the share-based payment programs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" xlink:to="label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_2" xlink:title="Label : PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares to label_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ConcessionAmountPerShare" xlink:label="ConcessionAmountPerShare" xlink:title="ConcessionAmountPerShare" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionAmountPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ConcessionAmountPerShare" xml:lang="en-US" id="label_ConcessionAmountPerShare">Concession Amount Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionAmountPerShare" xlink:to="label_ConcessionAmountPerShare" xlink:title="Label : ConcessionAmountPerShare to label_ConcessionAmountPerShare" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionAmountPerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ConcessionAmountPerShare_1" xml:lang="en-US" id="label_ConcessionAmountPerShare_1">Concession amount per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionAmountPerShare" xlink:to="label_ConcessionAmountPerShare_1" xlink:title="Label : ConcessionAmountPerShare to label_ConcessionAmountPerShare_1" />
    <link:label xlink:type="resource" xlink:label="label_ConcessionAmountPerShare_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ConcessionAmountPerShare_2" xml:lang="en-US" id="label_ConcessionAmountPerShare_2">The per share amount of concession under the share-based payment programs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConcessionAmountPerShare" xlink:to="label_ConcessionAmountPerShare_2" xlink:title="Label : ConcessionAmountPerShare to label_ConcessionAmountPerShare_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ProvisionForObsoleteInventories" xlink:label="ProvisionForObsoleteInventories" xlink:title="ProvisionForObsoleteInventories" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForObsoleteInventories" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProvisionForObsoleteInventories" xml:lang="en-US" id="label_ProvisionForObsoleteInventories">Provision for obsolete inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForObsoleteInventories" xlink:to="label_ProvisionForObsoleteInventories" xlink:title="Label : ProvisionForObsoleteInventories to label_ProvisionForObsoleteInventories" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForObsoleteInventories_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ProvisionForObsoleteInventories_1" xml:lang="en-US" id="label_ProvisionForObsoleteInventories_1">The amount of provision allocated for obsolete inventories.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForObsoleteInventories" xlink:to="label_ProvisionForObsoleteInventories_1" xlink:title="Label : ProvisionForObsoleteInventories to label_ProvisionForObsoleteInventories_1" />
    <link:label xlink:type="resource" xlink:label="label_ProvisionForObsoleteInventories_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ProvisionForObsoleteInventories_2" xml:lang="en-US" id="label_ProvisionForObsoleteInventories_2">Provision for obsolete inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProvisionForObsoleteInventories" xlink:to="label_ProvisionForObsoleteInventories_2" xlink:title="Label : ProvisionForObsoleteInventories to label_ProvisionForObsoleteInventories_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xml:lang="en-US" id="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">Net increase in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:title="Label : IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_1" xml:lang="en-US" id="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_1">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_1" xlink:title="Label : IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_1" />
    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_2" xml:lang="en-US" id="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_2">Effect of exchange rate fluctuations on cash held</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_2" xlink:title="Label : EffectOfExchangeRateChangesOnCashAndCashEquivalents to label_EffectOfExchangeRateChangesOnCashAndCashEquivalents_2" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2" xml:lang="en-US" id="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2">Net increase in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2" xlink:title="Label : IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges to label_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:label="AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:title="AcquisitionsThroughBusinessCombinationsRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets">Acquisitions through business combinations, right-of-use asset</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:to="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:title="Label : AcquisitionsThroughBusinessCombinationsRightOfUseAssets to label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_1" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_1">The increase in right-of-use assets resulting from acquisitions through business combinations.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:to="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_1" xlink:title="Label : AcquisitionsThroughBusinessCombinationsRightOfUseAssets to label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_2" xml:lang="en-US" id="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_2">Business Combination (note 9.3)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsThroughBusinessCombinationsRightOfUseAssets" xlink:to="label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_2" xlink:title="Label : AcquisitionsThroughBusinessCombinationsRightOfUseAssets to label_AcquisitionsThroughBusinessCombinationsRightOfUseAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationRightofuseAssets_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationRightofuseAssets_3" xml:lang="en-US" id="label_DepreciationRightofuseAssets_3">Amortization additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationRightofuseAssets" xlink:to="label_DepreciationRightofuseAssets_3" xlink:title="Label : DepreciationRightofuseAssets to label_DepreciationRightofuseAssets_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DepreciationRatePropertyPlantAndEquipment" xlink:label="DepreciationRatePropertyPlantAndEquipment" xlink:title="DepreciationRatePropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationRatePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DepreciationRatePropertyPlantAndEquipment" xml:lang="en-US" id="label_DepreciationRatePropertyPlantAndEquipment">Depreciation rate, property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationRatePropertyPlantAndEquipment" xlink:to="label_DepreciationRatePropertyPlantAndEquipment" xlink:title="Label : DepreciationRatePropertyPlantAndEquipment to label_DepreciationRatePropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_OtherPropertyPlantAndEquipmentMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherPropertyPlantAndEquipmentMember_2" xml:lang="en-US" id="label_OtherPropertyPlantAndEquipmentMember_2">Other [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherPropertyPlantAndEquipmentMember" xlink:to="label_OtherPropertyPlantAndEquipmentMember_2" xlink:title="Label : OtherPropertyPlantAndEquipmentMember to label_OtherPropertyPlantAndEquipmentMember_2" />
    <link:label xlink:type="resource" xlink:label="label_DepreciationRatePropertyPlantAndEquipment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DepreciationRatePropertyPlantAndEquipment_1" xml:lang="en-US" id="label_DepreciationRatePropertyPlantAndEquipment_1">Percentage of depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationRatePropertyPlantAndEquipment" xlink:to="label_DepreciationRatePropertyPlantAndEquipment_1" xlink:title="Label : DepreciationRatePropertyPlantAndEquipment to label_DepreciationRatePropertyPlantAndEquipment_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ServiceConcessionArrangementsAxis" xlink:label="ServiceConcessionArrangementsAxis" xlink:title="ServiceConcessionArrangementsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ServiceConcessionArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServiceConcessionArrangementsAxis" xml:lang="en-US" id="label_ServiceConcessionArrangementsAxis">Service concession arrangements [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiceConcessionArrangementsAxis" xlink:to="label_ServiceConcessionArrangementsAxis" xlink:title="Label : ServiceConcessionArrangementsAxis to label_ServiceConcessionArrangementsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ServiceConcessionArrangementsMember" xlink:label="ServiceConcessionArrangementsMember" xlink:title="ServiceConcessionArrangementsMember" />
    <link:label xlink:type="resource" xlink:label="label_ServiceConcessionArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ServiceConcessionArrangementsMember" xml:lang="en-US" id="label_ServiceConcessionArrangementsMember">Service concession arrangements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ServiceConcessionArrangementsMember" xlink:to="label_ServiceConcessionArrangementsMember" xlink:title="Label : ServiceConcessionArrangementsMember to label_ServiceConcessionArrangementsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ContractAssetsMember" xlink:label="ContractAssetsMember" xlink:title="ContractAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_ContractAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ContractAssetsMember" xml:lang="en-US" id="label_ContractAssetsMember">Contract assets [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssetsMember" xlink:to="label_ContractAssetsMember" xlink:title="Label : ContractAssetsMember to label_ContractAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_ContractAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ContractAssetsMember_1" xml:lang="en-US" id="label_ContractAssetsMember_1">Contract assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContractAssetsMember" xlink:to="label_ContractAssetsMember_1" xlink:title="Label : ContractAssetsMember to label_ContractAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_LegalReservesMember" xlink:label="LegalReservesMember" xlink:title="LegalReservesMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LegalReservesMember" xml:lang="en-US" id="label_LegalReservesMember">Legal reserves [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalReservesMember" xlink:to="label_LegalReservesMember" xlink:title="Label : LegalReservesMember to label_LegalReservesMember" />
    <link:label xlink:type="resource" xlink:label="label_LegalReservesMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_LegalReservesMember_1" xml:lang="en-US" id="label_LegalReservesMember_1">This member stands for a component of equity representing legal reserves.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalReservesMember" xlink:to="label_LegalReservesMember_1" xlink:title="Label : LegalReservesMember to label_LegalReservesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_LegalReservesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LegalReservesMember_2" xml:lang="en-US" id="label_LegalReservesMember_2">Legal reserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LegalReservesMember" xlink:to="label_LegalReservesMember_2" xlink:title="Label : LegalReservesMember to label_LegalReservesMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FullyPaidInIssuedCapital" xlink:label="FullyPaidInIssuedCapital" xlink:title="FullyPaidInIssuedCapital" />
    <link:label xlink:type="resource" xlink:label="label_FullyPaidInIssuedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FullyPaidInIssuedCapital" xml:lang="en-US" id="label_FullyPaidInIssuedCapital">Fully paid in issued capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FullyPaidInIssuedCapital" xlink:to="label_FullyPaidInIssuedCapital" xlink:title="Label : FullyPaidInIssuedCapital to label_FullyPaidInIssuedCapital" />
    <link:label xlink:type="resource" xlink:label="label_FullyPaidInIssuedCapital_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FullyPaidInIssuedCapital_1" xml:lang="en-US" id="label_FullyPaidInIssuedCapital_1">The nominal value of fully paid in capital issued.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FullyPaidInIssuedCapital" xlink:to="label_FullyPaidInIssuedCapital_1" xlink:title="Label : FullyPaidInIssuedCapital to label_FullyPaidInIssuedCapital_1" />
    <link:label xlink:type="resource" xlink:label="label_FullyPaidInIssuedCapital_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FullyPaidInIssuedCapital_2" xml:lang="en-US" id="label_FullyPaidInIssuedCapital_2">Fully paid in issued capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FullyPaidInIssuedCapital" xlink:to="label_FullyPaidInIssuedCapital_2" xlink:title="Label : FullyPaidInIssuedCapital to label_FullyPaidInIssuedCapital_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfReserveAllocationFromNetIncome" xlink:label="PercentageOfReserveAllocationFromNetIncome" xlink:title="PercentageOfReserveAllocationFromNetIncome" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfReserveAllocationFromNetIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfReserveAllocationFromNetIncome" xml:lang="en-US" id="label_PercentageOfReserveAllocationFromNetIncome">Percentage of reserve allocation from net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfReserveAllocationFromNetIncome" xlink:to="label_PercentageOfReserveAllocationFromNetIncome" xlink:title="Label : PercentageOfReserveAllocationFromNetIncome to label_PercentageOfReserveAllocationFromNetIncome" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfReserveAllocationFromNetIncome_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfReserveAllocationFromNetIncome_1" xml:lang="en-US" id="label_PercentageOfReserveAllocationFromNetIncome_1">The percentage of reserve allocation from net income for the year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfReserveAllocationFromNetIncome" xlink:to="label_PercentageOfReserveAllocationFromNetIncome_1" xlink:title="Label : PercentageOfReserveAllocationFromNetIncome to label_PercentageOfReserveAllocationFromNetIncome_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfReserveAllocationFromNetIncome_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfReserveAllocationFromNetIncome_2" xml:lang="en-US" id="label_PercentageOfReserveAllocationFromNetIncome_2">Percentage of reserve allocation from net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfReserveAllocationFromNetIncome" xlink:to="label_PercentageOfReserveAllocationFromNetIncome_2" xlink:title="Label : PercentageOfReserveAllocationFromNetIncome to label_PercentageOfReserveAllocationFromNetIncome_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:label="ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:title="ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" />
    <link:label xlink:type="resource" xlink:label="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xml:lang="en-US" id="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained">Threshold percentage limit of capital for legal reserve to be maintained</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:to="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:title="Label : ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained to label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" />
    <link:label xlink:type="resource" xlink:label="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_1" xml:lang="en-US" id="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_1">The percentage of reserve allocation to net income for the year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:to="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_1" xlink:title="Label : ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained to label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_1" />
    <link:label xlink:type="resource" xlink:label="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_2" xml:lang="en-US" id="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_2">Threshold percentage limit of capital for legal reserve to be maintained</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" xlink:to="label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_2" xlink:title="Label : ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained to label_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained_2" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesIssued_8" xlink:role="http://www.xbrl.org/2003/role/positiveVerboseLabel" xlink:title="label_NumberOfSharesIssued_8" xml:lang="en-US" id="label_NumberOfSharesIssued_8">Number of nominative common shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesIssued" xlink:to="label_NumberOfSharesIssued_8" xlink:title="Label : NumberOfSharesIssued to label_NumberOfSharesIssued_8" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AmountOfSharesAuthorised" xlink:label="AmountOfSharesAuthorised" xlink:title="AmountOfSharesAuthorised" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesAuthorised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AmountOfSharesAuthorised" xml:lang="en-US" id="label_AmountOfSharesAuthorised">Amount of shares authorised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesAuthorised" xlink:to="label_AmountOfSharesAuthorised" xlink:title="Label : AmountOfSharesAuthorised to label_AmountOfSharesAuthorised" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesAuthorised_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AmountOfSharesAuthorised_1" xml:lang="en-US" id="label_AmountOfSharesAuthorised_1">The amount of shares authorised.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesAuthorised" xlink:to="label_AmountOfSharesAuthorised_1" xlink:title="Label : AmountOfSharesAuthorised to label_AmountOfSharesAuthorised_1" />
    <link:label xlink:type="resource" xlink:label="label_AmountOfSharesAuthorised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AmountOfSharesAuthorised_2" xml:lang="en-US" id="label_AmountOfSharesAuthorised_2">Amount of shares authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmountOfSharesAuthorised" xlink:to="label_AmountOfSharesAuthorised_2" xlink:title="Label : AmountOfSharesAuthorised to label_AmountOfSharesAuthorised_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfLargestCustomers" xlink:label="NumberOfLargestCustomers" xlink:title="NumberOfLargestCustomers" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLargestCustomers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfLargestCustomers" xml:lang="en-US" id="label_NumberOfLargestCustomers">Number of largest customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLargestCustomers" xlink:to="label_NumberOfLargestCustomers" xlink:title="Label : NumberOfLargestCustomers to label_NumberOfLargestCustomers" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLargestCustomers_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfLargestCustomers_1" xml:lang="en-US" id="label_NumberOfLargestCustomers_1">Number of Largest Customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLargestCustomers" xlink:to="label_NumberOfLargestCustomers_1" xlink:title="Label : NumberOfLargestCustomers to label_NumberOfLargestCustomers_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfLargestCustomers_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfLargestCustomers_2" xml:lang="en-US" id="label_NumberOfLargestCustomers_2">The number of largest customers contributes revenue of the reporting entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfLargestCustomers" xlink:to="label_NumberOfLargestCustomers_2" xlink:title="Label : NumberOfLargestCustomers to label_NumberOfLargestCustomers_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BBBCreditRatingMember" xlink:label="BBBCreditRatingMember" xlink:title="BBBCreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_BBBCreditRatingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BBBCreditRatingMember" xml:lang="en-US" id="label_BBBCreditRatingMember">BBB</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BBBCreditRatingMember" xlink:to="label_BBBCreditRatingMember" xlink:title="Label : BBBCreditRatingMember to label_BBBCreditRatingMember" />
    <link:label xlink:type="resource" xlink:label="label_BBBCreditRatingMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BBBCreditRatingMember_1" xml:lang="en-US" id="label_BBBCreditRatingMember_1">BBB Credit Rating [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BBBCreditRatingMember" xlink:to="label_BBBCreditRatingMember_1" xlink:title="Label : BBBCreditRatingMember to label_BBBCreditRatingMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BBBCreditRatingMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BBBCreditRatingMember_2" xml:lang="en-US" id="label_BBBCreditRatingMember_2">This member stands for information pertaining to BBB credit rating standard.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BBBCreditRatingMember" xlink:to="label_BBBCreditRatingMember_2" xlink:title="Label : BBBCreditRatingMember to label_BBBCreditRatingMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_ChinaCommunicationsConstructionCompanyLimitedMember" xlink:label="ChinaCommunicationsConstructionCompanyLimitedMember" xlink:title="ChinaCommunicationsConstructionCompanyLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_ChinaCommunicationsConstructionCompanyLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ChinaCommunicationsConstructionCompanyLimitedMember" xml:lang="en-US" id="label_ChinaCommunicationsConstructionCompanyLimitedMember">China Communications Construction Company Limited [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChinaCommunicationsConstructionCompanyLimitedMember" xlink:to="label_ChinaCommunicationsConstructionCompanyLimitedMember" xlink:title="Label : ChinaCommunicationsConstructionCompanyLimitedMember to label_ChinaCommunicationsConstructionCompanyLimitedMember" />
    <link:label xlink:type="resource" xlink:label="label_ChinaCommunicationsConstructionCompanyLimitedMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ChinaCommunicationsConstructionCompanyLimitedMember_1" xml:lang="en-US" id="label_ChinaCommunicationsConstructionCompanyLimitedMember_1">This member stands for information pertaining to China Communications Construction Company Limited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChinaCommunicationsConstructionCompanyLimitedMember" xlink:to="label_ChinaCommunicationsConstructionCompanyLimitedMember_1" xlink:title="Label : ChinaCommunicationsConstructionCompanyLimitedMember to label_ChinaCommunicationsConstructionCompanyLimitedMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ChinaCommunicationsConstructionCompanyLimitedMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ChinaCommunicationsConstructionCompanyLimitedMember_2" xml:lang="en-US" id="label_ChinaCommunicationsConstructionCompanyLimitedMember_2">China Communications Construction Company Limited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ChinaCommunicationsConstructionCompanyLimitedMember" xlink:to="label_ChinaCommunicationsConstructionCompanyLimitedMember_2" xlink:title="Label : ChinaCommunicationsConstructionCompanyLimitedMember to label_ChinaCommunicationsConstructionCompanyLimitedMember_2" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_3" xml:lang="en-US" id="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_3">Accumulated fair value adjustment of Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedFairValueHedgeAdjustmentOfBorrowings" xlink:to="label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_3" xlink:title="Label : AccumulatedFairValueHedgeAdjustmentOfBorrowings to label_AccumulatedFairValueHedgeAdjustmentOfBorrowings_3" />
    <link:label xlink:type="resource" xlink:label="label_CurrencySwapContractMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CurrencySwapContractMember_2" xml:lang="en-US" id="label_CurrencySwapContractMember_2">Exchange rate hedge</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrencySwapContractMember" xlink:to="label_CurrencySwapContractMember_2" xlink:title="Label : CurrencySwapContractMember to label_CurrencySwapContractMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_BancoItauAndBancoBradescoMember" xlink:label="BancoItauAndBancoBradescoMember" xlink:title="BancoItauAndBancoBradescoMember" />
    <link:label xlink:type="resource" xlink:label="label_BancoItauAndBancoBradescoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_BancoItauAndBancoBradescoMember" xml:lang="en-US" id="label_BancoItauAndBancoBradescoMember">Banco Ita&#xFA; and Banco Bradesco</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BancoItauAndBancoBradescoMember" xlink:to="label_BancoItauAndBancoBradescoMember" xlink:title="Label : BancoItauAndBancoBradescoMember to label_BancoItauAndBancoBradescoMember" />
    <link:label xlink:type="resource" xlink:label="label_BancoItauAndBancoBradescoMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_BancoItauAndBancoBradescoMember_1" xml:lang="en-US" id="label_BancoItauAndBancoBradescoMember_1">This member stands for the information pertaining to Banco Ita&#xFA; and Banco Bradesco, counter party of the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BancoItauAndBancoBradescoMember" xlink:to="label_BancoItauAndBancoBradescoMember_1" xlink:title="Label : BancoItauAndBancoBradescoMember to label_BancoItauAndBancoBradescoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_BancoItauAndBancoBradescoMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_BancoItauAndBancoBradescoMember_2" xml:lang="en-US" id="label_BancoItauAndBancoBradescoMember_2">Banco Itau and Banco Bradesco [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BancoItauAndBancoBradescoMember" xlink:to="label_BancoItauAndBancoBradescoMember_2" xlink:title="Label : BancoItauAndBancoBradescoMember to label_BancoItauAndBancoBradescoMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AveragePaymentTermToSuppliers" xlink:label="AveragePaymentTermToSuppliers" xlink:title="AveragePaymentTermToSuppliers" />
    <link:label xlink:type="resource" xlink:label="label_AveragePaymentTermToSuppliers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AveragePaymentTermToSuppliers" xml:lang="en-US" id="label_AveragePaymentTermToSuppliers">Average payment term to suppliers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AveragePaymentTermToSuppliers" xlink:to="label_AveragePaymentTermToSuppliers" xlink:title="Label : AveragePaymentTermToSuppliers to label_AveragePaymentTermToSuppliers" />
    <link:label xlink:type="resource" xlink:label="label_AveragePaymentTermToSuppliers_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AveragePaymentTermToSuppliers_1" xml:lang="en-US" id="label_AveragePaymentTermToSuppliers_1">Average Payment Term to Suppliers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AveragePaymentTermToSuppliers" xlink:to="label_AveragePaymentTermToSuppliers_1" xlink:title="Label : AveragePaymentTermToSuppliers to label_AveragePaymentTermToSuppliers_1" />
    <link:label xlink:type="resource" xlink:label="label_AveragePaymentTermToSuppliers_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AveragePaymentTermToSuppliers_2" xml:lang="en-US" id="label_AveragePaymentTermToSuppliers_2">Represents the average payment term to suppliers.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AveragePaymentTermToSuppliers" xlink:to="label_AveragePaymentTermToSuppliers_2" xlink:title="Label : AveragePaymentTermToSuppliers to label_AveragePaymentTermToSuppliers_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_InvestmentMaturityTerm" xlink:label="InvestmentMaturityTerm" xlink:title="InvestmentMaturityTerm" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InvestmentMaturityTerm" xml:lang="en-US" id="label_InvestmentMaturityTerm">Investment maturity term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentMaturityTerm" xlink:to="label_InvestmentMaturityTerm" xlink:title="Label : InvestmentMaturityTerm to label_InvestmentMaturityTerm" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentMaturityTerm_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InvestmentMaturityTerm_1" xml:lang="en-US" id="label_InvestmentMaturityTerm_1">Investment Maturity Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentMaturityTerm" xlink:to="label_InvestmentMaturityTerm_1" xlink:title="Label : InvestmentMaturityTerm to label_InvestmentMaturityTerm_1" />
    <link:label xlink:type="resource" xlink:label="label_InvestmentMaturityTerm_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_InvestmentMaturityTerm_2" xml:lang="en-US" id="label_InvestmentMaturityTerm_2">Represents the maturity term of investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentMaturityTerm" xlink:to="label_InvestmentMaturityTerm_2" xlink:title="Label : InvestmentMaturityTerm to label_InvestmentMaturityTerm_2" />
    <link:label xlink:type="resource" xlink:label="label_TradeAndOtherPayablesToTradeSuppliers_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_TradeAndOtherPayablesToTradeSuppliers_2" xml:lang="en-US" id="label_TradeAndOtherPayablesToTradeSuppliers_2">Advance by suppliers with financial institutions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradeAndOtherPayablesToTradeSuppliers" xlink:to="label_TradeAndOtherPayablesToTradeSuppliers_2" xlink:title="Label : TradeAndOtherPayablesToTradeSuppliers to label_TradeAndOtherPayablesToTradeSuppliers_2" />
    <link:label xlink:type="resource" xlink:label="label_BorrowingsInterestRate_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_BorrowingsInterestRate_2" xml:lang="en-US" id="label_BorrowingsInterestRate_2">Average rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BorrowingsInterestRate" xlink:to="label_BorrowingsInterestRate_2" xlink:title="Label : BorrowingsInterestRate to label_BorrowingsInterestRate_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfPillarsFocusedBySegment" xlink:label="NumberOfPillarsFocusedBySegment" xlink:title="NumberOfPillarsFocusedBySegment" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPillarsFocusedBySegment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfPillarsFocusedBySegment" xml:lang="en-US" id="label_NumberOfPillarsFocusedBySegment">Number of pillars focused by segment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPillarsFocusedBySegment" xlink:to="label_NumberOfPillarsFocusedBySegment" xlink:title="Label : NumberOfPillarsFocusedBySegment to label_NumberOfPillarsFocusedBySegment" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPillarsFocusedBySegment_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfPillarsFocusedBySegment_1" xml:lang="en-US" id="label_NumberOfPillarsFocusedBySegment_1">Number of Pillars Focused by Segment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPillarsFocusedBySegment" xlink:to="label_NumberOfPillarsFocusedBySegment_1" xlink:title="Label : NumberOfPillarsFocusedBySegment to label_NumberOfPillarsFocusedBySegment_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfPillarsFocusedBySegment_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfPillarsFocusedBySegment_2" xml:lang="en-US" id="label_NumberOfPillarsFocusedBySegment_2">The number of pillars focused by segment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPillarsFocusedBySegment" xlink:to="label_NumberOfPillarsFocusedBySegment_2" xlink:title="Label : NumberOfPillarsFocusedBySegment to label_NumberOfPillarsFocusedBySegment_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfBindingProposalForShareCapitalAcquisition" xlink:label="PercentageOfBindingProposalForShareCapitalAcquisition" xlink:title="PercentageOfBindingProposalForShareCapitalAcquisition" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfBindingProposalForShareCapitalAcquisition" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfBindingProposalForShareCapitalAcquisition" xml:lang="en-US" id="label_PercentageOfBindingProposalForShareCapitalAcquisition">Percentage of binding proposal for share capital acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfBindingProposalForShareCapitalAcquisition" xlink:to="label_PercentageOfBindingProposalForShareCapitalAcquisition" xlink:title="Label : PercentageOfBindingProposalForShareCapitalAcquisition to label_PercentageOfBindingProposalForShareCapitalAcquisition" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfBindingProposalForShareCapitalAcquisition_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfBindingProposalForShareCapitalAcquisition_1" xml:lang="en-US" id="label_PercentageOfBindingProposalForShareCapitalAcquisition_1">The percentage of binding proposal for share capital acquiree in a business combination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfBindingProposalForShareCapitalAcquisition" xlink:to="label_PercentageOfBindingProposalForShareCapitalAcquisition_1" xlink:title="Label : PercentageOfBindingProposalForShareCapitalAcquisition to label_PercentageOfBindingProposalForShareCapitalAcquisition_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfBindingProposalForShareCapitalAcquisition_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfBindingProposalForShareCapitalAcquisition_2" xml:lang="en-US" id="label_PercentageOfBindingProposalForShareCapitalAcquisition_2">Percentage of Binding Proposal for Share Capital Acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfBindingProposalForShareCapitalAcquisition" xlink:to="label_PercentageOfBindingProposalForShareCapitalAcquisition_2" xlink:title="Label : PercentageOfBindingProposalForShareCapitalAcquisition to label_PercentageOfBindingProposalForShareCapitalAcquisition_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfMineralProjects" xlink:label="NumberOfMineralProjects" xlink:title="NumberOfMineralProjects" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMineralProjects" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfMineralProjects" xml:lang="en-US" id="label_NumberOfMineralProjects">Number of mineral projects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMineralProjects" xlink:to="label_NumberOfMineralProjects" xlink:title="Label : NumberOfMineralProjects to label_NumberOfMineralProjects" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMineralProjects_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfMineralProjects_1" xml:lang="en-US" id="label_NumberOfMineralProjects_1">Number of Mineral Projects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMineralProjects" xlink:to="label_NumberOfMineralProjects_1" xlink:title="Label : NumberOfMineralProjects to label_NumberOfMineralProjects_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfMineralProjects_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfMineralProjects_2" xml:lang="en-US" id="label_NumberOfMineralProjects_2">The number of mineral projects.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMineralProjects" xlink:to="label_NumberOfMineralProjects_2" xlink:title="Label : NumberOfMineralProjects to label_NumberOfMineralProjects_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:label="UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:title="UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" />
    <link:label xlink:type="resource" xlink:label="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xml:lang="en-US" id="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised">Unused tax credits for which no deferred tax asset recognised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:to="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:title="Label : UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised to label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" />
    <link:label xlink:type="resource" xlink:label="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_1" xml:lang="en-US" id="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_1">Tax credits granted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised" xlink:to="label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_1" xlink:title="Label : UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised to label_UnusedTaxCreditsForWhichNoDeferredTaxAssetRecognised_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SectorFinancialAssets" xlink:label="SectorFinancialAssets" xlink:title="SectorFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SectorFinancialAssets" xml:lang="en-US" id="label_SectorFinancialAssets">Sector Financial Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssets" xlink:to="label_SectorFinancialAssets" xlink:title="Label : SectorFinancialAssets to label_SectorFinancialAssets" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssets_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SectorFinancialAssets_1" xml:lang="en-US" id="label_SectorFinancialAssets_1">The amount of sector financial assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssets" xlink:to="label_SectorFinancialAssets_1" xlink:title="Label : SectorFinancialAssets to label_SectorFinancialAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_SectorFinancialAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SectorFinancialAssets_2" xml:lang="en-US" id="label_SectorFinancialAssets_2">Sector financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SectorFinancialAssets" xlink:to="label_SectorFinancialAssets_2" xlink:title="Label : SectorFinancialAssets to label_SectorFinancialAssets_2" />
    <link:label xlink:type="resource" xlink:label="label_DisposalsIntangibleAssetsAndGoodwill_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisposalsIntangibleAssetsAndGoodwill_2" xml:lang="en-US" id="label_DisposalsIntangibleAssetsAndGoodwill_2">Disposals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsIntangibleAssetsAndGoodwill" xlink:to="label_DisposalsIntangibleAssetsAndGoodwill_2" xlink:title="Label : DisposalsIntangibleAssetsAndGoodwill to label_DisposalsIntangibleAssetsAndGoodwill_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MaterialReconcilingItemsMember" xlink:label="MaterialReconcilingItemsMember" xlink:title="MaterialReconcilingItemsMember" />
    <link:label xlink:type="resource" xlink:label="label_MaterialReconcilingItemsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaterialReconcilingItemsMember" xml:lang="en-US" id="label_MaterialReconcilingItemsMember">Material reconciling items [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaterialReconcilingItemsMember" xlink:to="label_MaterialReconcilingItemsMember" xlink:title="Label : MaterialReconcilingItemsMember to label_MaterialReconcilingItemsMember" />
    <link:label xlink:type="resource" xlink:label="label_MaterialReconcilingItemsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaterialReconcilingItemsMember_1" xml:lang="en-US" id="label_MaterialReconcilingItemsMember_1">Deconsolidated effects and eliminations [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaterialReconcilingItemsMember" xlink:to="label_MaterialReconcilingItemsMember_1" xlink:title="Label : MaterialReconcilingItemsMember to label_MaterialReconcilingItemsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_EliminationsAndReconcilingItemsMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_EliminationsAndReconcilingItemsMember_3" xml:lang="en-US" id="label_EliminationsAndReconcilingItemsMember_3">Deconsolidated effects [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EliminationsAndReconcilingItemsMember" xlink:to="label_EliminationsAndReconcilingItemsMember_3" xlink:title="Label : EliminationsAndReconcilingItemsMember to label_EliminationsAndReconcilingItemsMember_3" />
    <link:label xlink:type="resource" xlink:label="label_NotionalAmount_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_NotionalAmount_3" xml:lang="en-US" id="label_NotionalAmount_3">Aggregate principal amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NotionalAmount" xlink:to="label_NotionalAmount_3" xlink:title="Label : NotionalAmount to label_NotionalAmount_3" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:label="AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:title="AccumulatedAdjustmentsOfAdditionalPaidinCapital" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital" xml:lang="en-US" id="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital">Accumulated Adjustments of Additional Paid-in Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:to="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:title="Label : AccumulatedAdjustmentsOfAdditionalPaidinCapital to label_AccumulatedAdjustmentsOfAdditionalPaidinCapital" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_1" xml:lang="en-US" id="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_1">A component of equity representing accumulated adjustments of additional paid in capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:to="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_1" xlink:title="Label : AccumulatedAdjustmentsOfAdditionalPaidinCapital to label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_1" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_2" xml:lang="en-US" id="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_2">Additional paid-in capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAdjustmentsOfAdditionalPaidinCapital" xlink:to="label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_2" xlink:title="Label : AccumulatedAdjustmentsOfAdditionalPaidinCapital to label_AccumulatedAdjustmentsOfAdditionalPaidinCapital_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:label="AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:title="AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xml:lang="en-US" id="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember">Additional paid-in capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:to="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:title="Label : AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember to label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_1" xml:lang="en-US" id="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_1">Accumulated Adjustments of Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:to="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_1" xlink:title="Label : AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember to label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_1" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_2" xml:lang="en-US" id="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_2">This member stands for the information pertaining to a component of equity representing accumulated adjustments of additional paid in capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" xlink:to="label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_2" xlink:title="Label : AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember to label_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_RestrictedCashAndCashEquivalentsMember" xlink:label="RestrictedCashAndCashEquivalentsMember" xlink:title="RestrictedCashAndCashEquivalentsMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestrictedCashAndCashEquivalentsMember" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalentsMember">Restricted cash [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalentsMember" xlink:to="label_RestrictedCashAndCashEquivalentsMember" xlink:title="Label : RestrictedCashAndCashEquivalentsMember to label_RestrictedCashAndCashEquivalentsMember" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalentsMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_RestrictedCashAndCashEquivalentsMember_1" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalentsMember_1">This member stands for the information pertaining to restricted cash and cash equivalents.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalentsMember" xlink:to="label_RestrictedCashAndCashEquivalentsMember_1" xlink:title="Label : RestrictedCashAndCashEquivalentsMember to label_RestrictedCashAndCashEquivalentsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_RestrictedCashAndCashEquivalentsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RestrictedCashAndCashEquivalentsMember_2" xml:lang="en-US" id="label_RestrictedCashAndCashEquivalentsMember_2">Restricted cash and cash equivalents [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RestrictedCashAndCashEquivalentsMember" xlink:to="label_RestrictedCashAndCashEquivalentsMember_2" xlink:title="Label : RestrictedCashAndCashEquivalentsMember to label_RestrictedCashAndCashEquivalentsMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTable" xlink:label="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTable" xlink:title="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTable" />
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" xlink:label="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" xlink:title="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems">Disclosure of property plant and equipment intangible assets goodwill right of use assets and contract assets [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" xlink:to="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" xlink:title="Label : DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems to label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems_1" xml:lang="en-US" id="label_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems_1">Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</link:label>
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    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OtherInvestmentMember" xlink:label="OtherInvestmentMember" xlink:title="OtherInvestmentMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherInvestmentMember" xml:lang="en-US" id="label_OtherInvestmentMember">Other Investment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInvestmentMember" xlink:to="label_OtherInvestmentMember" xlink:title="Label : OtherInvestmentMember to label_OtherInvestmentMember" />
    <link:label xlink:type="resource" xlink:label="label_OtherInvestmentMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherInvestmentMember_1" xml:lang="en-US" id="label_OtherInvestmentMember_1">Other Investment [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInvestmentMember" xlink:to="label_OtherInvestmentMember_1" xlink:title="Label : OtherInvestmentMember to label_OtherInvestmentMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OtherInvestmentMember_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OtherInvestmentMember_2" xml:lang="en-US" id="label_OtherInvestmentMember_2">The member represent other investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherInvestmentMember" xlink:to="label_OtherInvestmentMember_2" xlink:title="Label : OtherInvestmentMember to label_OtherInvestmentMember_2" />
    <link:label xlink:type="resource" xlink:label="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_2" xml:lang="en-US" id="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_2">The period of long-term growth as assumptions used in discounted cash flow projections.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" xlink:to="label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_2" xlink:title="Label : AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth to label_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfChangesInAccountingEstimatesExplanatory" xlink:label="DisclosureOfChangesInAccountingEstimatesExplanatory" xlink:title="DisclosureOfChangesInAccountingEstimatesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfChangesInAccountingEstimatesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfChangesInAccountingEstimatesExplanatory" xml:lang="en-US" id="label_DisclosureOfChangesInAccountingEstimatesExplanatory">Disclosure of changes in accounting estimates [text block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfChangesInAccountingEstimatesExplanatory" xlink:to="label_DisclosureOfChangesInAccountingEstimatesExplanatory" xlink:title="Label : DisclosureOfChangesInAccountingEstimatesExplanatory to label_DisclosureOfChangesInAccountingEstimatesExplanatory" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfChangesInAccountingEstimatesExplanatory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfChangesInAccountingEstimatesExplanatory_1" xml:lang="en-US" id="label_DisclosureOfChangesInAccountingEstimatesExplanatory_1">Schedule of change in accounting policy</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfChangesInAccountingEstimatesExplanatory" xlink:to="label_DisclosureOfChangesInAccountingEstimatesExplanatory_1" xlink:title="Label : DisclosureOfChangesInAccountingEstimatesExplanatory to label_DisclosureOfChangesInAccountingEstimatesExplanatory_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:label="FinancialEffectOfChangesInAccountingPolicyMember" xlink:title="FinancialEffectOfChangesInAccountingPolicyMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialEffectOfChangesInAccountingPolicyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FinancialEffectOfChangesInAccountingPolicyMember" xml:lang="en-US" id="label_FinancialEffectOfChangesInAccountingPolicyMember">Increase (decrease) due to changes in accounting policy [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialEffectOfChangesInAccountingPolicyMember" xlink:to="label_FinancialEffectOfChangesInAccountingPolicyMember" xlink:title="Label : FinancialEffectOfChangesInAccountingPolicyMember to label_FinancialEffectOfChangesInAccountingPolicyMember" />
    <link:label xlink:type="resource" xlink:label="label_FinancialEffectOfChangesInAccountingPolicyMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FinancialEffectOfChangesInAccountingPolicyMember_1" xml:lang="en-US" id="label_FinancialEffectOfChangesInAccountingPolicyMember_1">Reclassification</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialEffectOfChangesInAccountingPolicyMember" xlink:to="label_FinancialEffectOfChangesInAccountingPolicyMember_1" xlink:title="Label : FinancialEffectOfChangesInAccountingPolicyMember to label_FinancialEffectOfChangesInAccountingPolicyMember_1" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationAbstract_1" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationAbstract_1">Disclosure of operations and corporate reorganization [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationAbstract" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationAbstract_1" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationAbstract to label_DisclosureOfOperationsAndCorporateReorganizationAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOperationsAndCorporateReorganizationTextBlock" xlink:label="DisclosureOfOperationsAndCorporateReorganizationTextBlock" xlink:title="DisclosureOfOperationsAndCorporateReorganizationTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock">Operations and Corporate Reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationTextBlock" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationTextBlock to label_DisclosureOfOperationsAndCorporateReorganizationTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_1" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_1">The entire disclosure of operations and corporate reorganization.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_2" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_2">Disclosure of operations and corporate reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationTextBlock" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_2" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationTextBlock to label_DisclosureOfOperationsAndCorporateReorganizationTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOperationsAndCorporateReorganizationTable" xlink:label="DisclosureOfOperationsAndCorporateReorganizationTable" xlink:title="DisclosureOfOperationsAndCorporateReorganizationTable" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationTable" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationTable">Disclosure of operations and corporate reorganization [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationTable" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationTable" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationTable to label_DisclosureOfOperationsAndCorporateReorganizationTable" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_OrdinarySharesClassAAndClassBMember" xlink:label="OrdinarySharesClassAAndClassBMember" xlink:title="OrdinarySharesClassAAndClassBMember" />
    <link:label xlink:type="resource" xlink:label="label_OrdinarySharesClassAAndClassBMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OrdinarySharesClassAAndClassBMember" xml:lang="en-US" id="label_OrdinarySharesClassAAndClassBMember">Class A and Class B Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesClassAAndClassBMember" xlink:to="label_OrdinarySharesClassAAndClassBMember" xlink:title="Label : OrdinarySharesClassAAndClassBMember to label_OrdinarySharesClassAAndClassBMember" />
    <link:label xlink:type="resource" xlink:label="label_OrdinarySharesClassAAndClassBMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_OrdinarySharesClassAAndClassBMember_1" xml:lang="en-US" id="label_OrdinarySharesClassAAndClassBMember_1">This member stands for Class A and Class B equity instruments that are subordinate to all other classes of equity instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesClassAAndClassBMember" xlink:to="label_OrdinarySharesClassAAndClassBMember_1" xlink:title="Label : OrdinarySharesClassAAndClassBMember to label_OrdinarySharesClassAAndClassBMember_1" />
    <link:label xlink:type="resource" xlink:label="label_OrdinarySharesClassAAndClassBMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OrdinarySharesClassAAndClassBMember_2" xml:lang="en-US" id="label_OrdinarySharesClassAAndClassBMember_2">Ordinary shares Class A and Class B [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrdinarySharesClassAAndClassBMember" xlink:to="label_OrdinarySharesClassAAndClassBMember_2" xlink:title="Label : OrdinarySharesClassAAndClassBMember to label_OrdinarySharesClassAAndClassBMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" xlink:label="UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" xlink:title="UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" />
    <link:label xlink:type="resource" xlink:label="label_UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" xml:lang="en-US" id="label_UnderlyingEquityInstrumentAndDepositaryReceiptsAxis">Underlying equity instrument and depositary receipts [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" xlink:to="label_UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" xlink:title="Label : UnderlyingEquityInstrumentAndDepositaryReceiptsAxis to label_UnderlyingEquityInstrumentAndDepositaryReceiptsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnderlyingEquityInstrumentMember" xlink:label="UnderlyingEquityInstrumentMember" xlink:title="UnderlyingEquityInstrumentMember" />
    <link:label xlink:type="resource" xlink:label="label_UnderlyingEquityInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_UnderlyingEquityInstrumentMember" xml:lang="en-US" id="label_UnderlyingEquityInstrumentMember">Underlying equity instrument [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnderlyingEquityInstrumentMember" xlink:to="label_UnderlyingEquityInstrumentMember" xlink:title="Label : UnderlyingEquityInstrumentMember to label_UnderlyingEquityInstrumentMember" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanSAAmericanDepositaryShareMember" xlink:label="CosanSAAmericanDepositaryShareMember" xlink:title="CosanSAAmericanDepositaryShareMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAAmericanDepositaryShareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanSAAmericanDepositaryShareMember" xml:lang="en-US" id="label_CosanSAAmericanDepositaryShareMember">Cosan S.A. ADSs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAAmericanDepositaryShareMember" xlink:to="label_CosanSAAmericanDepositaryShareMember" xlink:title="Label : CosanSAAmericanDepositaryShareMember to label_CosanSAAmericanDepositaryShareMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAAmericanDepositaryShareMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanSAAmericanDepositaryShareMember_1" xml:lang="en-US" id="label_CosanSAAmericanDepositaryShareMember_1">This member stands for Cosan S.A. american depositary share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAAmericanDepositaryShareMember" xlink:to="label_CosanSAAmericanDepositaryShareMember_1" xlink:title="Label : CosanSAAmericanDepositaryShareMember to label_CosanSAAmericanDepositaryShareMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAAmericanDepositaryShareMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanSAAmericanDepositaryShareMember_2" xml:lang="en-US" id="label_CosanSAAmericanDepositaryShareMember_2">Cosan S.A. American Depositary Share [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAAmericanDepositaryShareMember" xlink:to="label_CosanSAAmericanDepositaryShareMember_2" xlink:title="Label : CosanSAAmericanDepositaryShareMember to label_CosanSAAmericanDepositaryShareMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:label="CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:title="CosanSAShareOrCosanSAAmericanDepositaryShareMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember" xml:lang="en-US" id="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember">Cosan S.A. share or Cosan S.A. ADS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:to="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:title="Label : CosanSAShareOrCosanSAAmericanDepositaryShareMember to label_CosanSAShareOrCosanSAAmericanDepositaryShareMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_1" xml:lang="en-US" id="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_1">This member stands for Cosan S.A. share or Cosan S.A. american depositary share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:to="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_1" xlink:title="Label : CosanSAShareOrCosanSAAmericanDepositaryShareMember to label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_2" xml:lang="en-US" id="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_2">Cosan S.A. share or Cosan S.A. American Depositary Share [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAShareOrCosanSAAmericanDepositaryShareMember" xlink:to="label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_2" xlink:title="Label : CosanSAShareOrCosanSAAmericanDepositaryShareMember to label_CosanSAShareOrCosanSAAmericanDepositaryShareMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_CosanSAShareMember" xlink:label="CosanSAShareMember" xlink:title="CosanSAShareMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAShareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CosanSAShareMember" xml:lang="en-US" id="label_CosanSAShareMember">Cosan S.A. share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAShareMember" xlink:to="label_CosanSAShareMember" xlink:title="Label : CosanSAShareMember to label_CosanSAShareMember" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAShareMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CosanSAShareMember_1" xml:lang="en-US" id="label_CosanSAShareMember_1">This member stands for Cosan S.A. share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAShareMember" xlink:to="label_CosanSAShareMember_1" xlink:title="Label : CosanSAShareMember to label_CosanSAShareMember_1" />
    <link:label xlink:type="resource" xlink:label="label_CosanSAShareMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CosanSAShareMember_2" xml:lang="en-US" id="label_CosanSAShareMember_2">Cosan S.A. share [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CosanSAShareMember" xlink:to="label_CosanSAShareMember_2" xlink:title="Label : CosanSAShareMember to label_CosanSAShareMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_DisclosureOfOperationsAndCorporateReorganizationLineItems" xlink:label="DisclosureOfOperationsAndCorporateReorganizationLineItems" xlink:title="DisclosureOfOperationsAndCorporateReorganizationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationLineItems" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationLineItems">Operations and Corporate Reorganization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationLineItems" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationLineItems" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationLineItems to label_DisclosureOfOperationsAndCorporateReorganizationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_DisclosureOfOperationsAndCorporateReorganizationLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DisclosureOfOperationsAndCorporateReorganizationLineItems_1" xml:lang="en-US" id="label_DisclosureOfOperationsAndCorporateReorganizationLineItems_1">Disclosure of operations and corporate reorganization [line items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisclosureOfOperationsAndCorporateReorganizationLineItems" xlink:to="label_DisclosureOfOperationsAndCorporateReorganizationLineItems_1" xlink:title="Label : DisclosureOfOperationsAndCorporateReorganizationLineItems to label_DisclosureOfOperationsAndCorporateReorganizationLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfDepositaryReceiptReceivedFromConversion" xlink:label="NumberOfDepositaryReceiptReceivedFromConversion" xlink:title="NumberOfDepositaryReceiptReceivedFromConversion" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfDepositaryReceiptReceivedFromConversion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfDepositaryReceiptReceivedFromConversion" xml:lang="en-US" id="label_NumberOfDepositaryReceiptReceivedFromConversion">Number of depositary receipt received from conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfDepositaryReceiptReceivedFromConversion" xlink:to="label_NumberOfDepositaryReceiptReceivedFromConversion" xlink:title="Label : NumberOfDepositaryReceiptReceivedFromConversion to label_NumberOfDepositaryReceiptReceivedFromConversion" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfDepositaryReceiptReceivedFromConversion_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfDepositaryReceiptReceivedFromConversion_1" xml:lang="en-US" id="label_NumberOfDepositaryReceiptReceivedFromConversion_1">The number of depositary receipt received from conversion shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfDepositaryReceiptReceivedFromConversion" xlink:to="label_NumberOfDepositaryReceiptReceivedFromConversion_1" xlink:title="Label : NumberOfDepositaryReceiptReceivedFromConversion to label_NumberOfDepositaryReceiptReceivedFromConversion_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfDepositaryReceiptReceivedFromConversion_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfDepositaryReceiptReceivedFromConversion_2" xml:lang="en-US" id="label_NumberOfDepositaryReceiptReceivedFromConversion_2">Number of depositary receipt received from conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfDepositaryReceiptReceivedFromConversion" xlink:to="label_NumberOfDepositaryReceiptReceivedFromConversion_2" xlink:title="Label : NumberOfDepositaryReceiptReceivedFromConversion to label_NumberOfDepositaryReceiptReceivedFromConversion_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SharesExchangeRatio" xlink:label="SharesExchangeRatio" xlink:title="SharesExchangeRatio" />
    <link:label xlink:type="resource" xlink:label="label_SharesExchangeRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SharesExchangeRatio" xml:lang="en-US" id="label_SharesExchangeRatio">Shares exchange ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesExchangeRatio" xlink:to="label_SharesExchangeRatio" xlink:title="Label : SharesExchangeRatio to label_SharesExchangeRatio" />
    <link:label xlink:type="resource" xlink:label="label_SharesExchangeRatio_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SharesExchangeRatio_1" xml:lang="en-US" id="label_SharesExchangeRatio_1">Ratio applied to the conversion of equity with equity shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesExchangeRatio" xlink:to="label_SharesExchangeRatio_1" xlink:title="Label : SharesExchangeRatio to label_SharesExchangeRatio_1" />
    <link:label xlink:type="resource" xlink:label="label_SharesExchangeRatio_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SharesExchangeRatio_2" xml:lang="en-US" id="label_SharesExchangeRatio_2">Shares exchange ratio</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesExchangeRatio" xlink:to="label_SharesExchangeRatio_2" xlink:title="Label : SharesExchangeRatio to label_SharesExchangeRatio_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NewShareBuybackProgramMember" xlink:label="NewShareBuybackProgramMember" xlink:title="NewShareBuybackProgramMember" />
    <link:label xlink:type="resource" xlink:label="label_NewShareBuybackProgramMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NewShareBuybackProgramMember" xml:lang="en-US" id="label_NewShareBuybackProgramMember">New share buyback program</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewShareBuybackProgramMember" xlink:to="label_NewShareBuybackProgramMember" xlink:title="Label : NewShareBuybackProgramMember to label_NewShareBuybackProgramMember" />
    <link:label xlink:type="resource" xlink:label="label_NewShareBuybackProgramMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NewShareBuybackProgramMember_1" xml:lang="en-US" id="label_NewShareBuybackProgramMember_1">This member stands for information pertaining to new share buyback program.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewShareBuybackProgramMember" xlink:to="label_NewShareBuybackProgramMember_1" xlink:title="Label : NewShareBuybackProgramMember to label_NewShareBuybackProgramMember_1" />
    <link:label xlink:type="resource" xlink:label="label_NewShareBuybackProgramMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NewShareBuybackProgramMember_2" xml:lang="en-US" id="label_NewShareBuybackProgramMember_2">New share buyback program [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewShareBuybackProgramMember" xlink:to="label_NewShareBuybackProgramMember_2" xlink:title="Label : NewShareBuybackProgramMember to label_NewShareBuybackProgramMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_FirstTrancheMember" xlink:label="FirstTrancheMember" xlink:title="FirstTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_FirstTrancheMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FirstTrancheMember" xml:lang="en-US" id="label_FirstTrancheMember">First tranche</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstTrancheMember" xlink:to="label_FirstTrancheMember" xlink:title="Label : FirstTrancheMember to label_FirstTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_FirstTrancheMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_FirstTrancheMember_1" xml:lang="en-US" id="label_FirstTrancheMember_1">This member stands for information pertaining to First tranche of financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstTrancheMember" xlink:to="label_FirstTrancheMember_1" xlink:title="Label : FirstTrancheMember to label_FirstTrancheMember_1" />
    <link:label xlink:type="resource" xlink:label="label_FirstTrancheMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FirstTrancheMember_2" xml:lang="en-US" id="label_FirstTrancheMember_2">First tranche [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstTrancheMember" xlink:to="label_FirstTrancheMember_2" xlink:title="Label : FirstTrancheMember to label_FirstTrancheMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_SecondTrancheMember" xlink:label="SecondTrancheMember" xlink:title="SecondTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_SecondTrancheMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SecondTrancheMember" xml:lang="en-US" id="label_SecondTrancheMember">Second tranche</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondTrancheMember" xlink:to="label_SecondTrancheMember" xlink:title="Label : SecondTrancheMember to label_SecondTrancheMember" />
    <link:label xlink:type="resource" xlink:label="label_SecondTrancheMember_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_SecondTrancheMember_1" xml:lang="en-US" id="label_SecondTrancheMember_1">This member stands for information pertaining to second tranche of financial instruments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondTrancheMember" xlink:to="label_SecondTrancheMember_1" xlink:title="Label : SecondTrancheMember to label_SecondTrancheMember_1" />
    <link:label xlink:type="resource" xlink:label="label_SecondTrancheMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SecondTrancheMember_2" xml:lang="en-US" id="label_SecondTrancheMember_2">Second tranche [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecondTrancheMember" xlink:to="label_SecondTrancheMember_2" xlink:title="Label : SecondTrancheMember to label_SecondTrancheMember_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_NumberOfSharesBuybackAuthorised" xlink:label="NumberOfSharesBuybackAuthorised" xlink:title="NumberOfSharesBuybackAuthorised" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesBuybackAuthorised" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NumberOfSharesBuybackAuthorised" xml:lang="en-US" id="label_NumberOfSharesBuybackAuthorised">Number of shares buyback authorised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesBuybackAuthorised" xlink:to="label_NumberOfSharesBuybackAuthorised" xlink:title="Label : NumberOfSharesBuybackAuthorised to label_NumberOfSharesBuybackAuthorised" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesBuybackAuthorised_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_NumberOfSharesBuybackAuthorised_1" xml:lang="en-US" id="label_NumberOfSharesBuybackAuthorised_1">The number of shares authorised by the entity for buyback.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesBuybackAuthorised" xlink:to="label_NumberOfSharesBuybackAuthorised_1" xlink:title="Label : NumberOfSharesBuybackAuthorised to label_NumberOfSharesBuybackAuthorised_1" />
    <link:label xlink:type="resource" xlink:label="label_NumberOfSharesBuybackAuthorised_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NumberOfSharesBuybackAuthorised_2" xml:lang="en-US" id="label_NumberOfSharesBuybackAuthorised_2">Number of shares buyback authorised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSharesBuybackAuthorised" xlink:to="label_NumberOfSharesBuybackAuthorised_2" xlink:title="Label : NumberOfSharesBuybackAuthorised to label_NumberOfSharesBuybackAuthorised_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_PercentageOfBuybackSharesRepresentTotalShares" xlink:label="PercentageOfBuybackSharesRepresentTotalShares" xlink:title="PercentageOfBuybackSharesRepresentTotalShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfBuybackSharesRepresentTotalShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PercentageOfBuybackSharesRepresentTotalShares" xml:lang="en-US" id="label_PercentageOfBuybackSharesRepresentTotalShares">Percentage of buyback shares represent total shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfBuybackSharesRepresentTotalShares" xlink:to="label_PercentageOfBuybackSharesRepresentTotalShares" xlink:title="Label : PercentageOfBuybackSharesRepresentTotalShares to label_PercentageOfBuybackSharesRepresentTotalShares" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfBuybackSharesRepresentTotalShares_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_PercentageOfBuybackSharesRepresentTotalShares_1" xml:lang="en-US" id="label_PercentageOfBuybackSharesRepresentTotalShares_1">The percentage of buyback shares represent total shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfBuybackSharesRepresentTotalShares" xlink:to="label_PercentageOfBuybackSharesRepresentTotalShares_1" xlink:title="Label : PercentageOfBuybackSharesRepresentTotalShares to label_PercentageOfBuybackSharesRepresentTotalShares_1" />
    <link:label xlink:type="resource" xlink:label="label_PercentageOfBuybackSharesRepresentTotalShares_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PercentageOfBuybackSharesRepresentTotalShares_2" xml:lang="en-US" id="label_PercentageOfBuybackSharesRepresentTotalShares_2">Percentage of buyback shares represent total shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PercentageOfBuybackSharesRepresentTotalShares" xlink:to="label_PercentageOfBuybackSharesRepresentTotalShares_2" xlink:title="Label : PercentageOfBuybackSharesRepresentTotalShares to label_PercentageOfBuybackSharesRepresentTotalShares_2" />
    <link:loc xlink:type="locator" xlink:href="csan-20211231.xsd#csan_MaturityTermOfBuybackShares" xlink:label="MaturityTermOfBuybackShares" xlink:title="MaturityTermOfBuybackShares" />
    <link:label xlink:type="resource" xlink:label="label_MaturityTermOfBuybackShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_MaturityTermOfBuybackShares" xml:lang="en-US" id="label_MaturityTermOfBuybackShares">Maturity term of buyback shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityTermOfBuybackShares" xlink:to="label_MaturityTermOfBuybackShares" xlink:title="Label : MaturityTermOfBuybackShares to label_MaturityTermOfBuybackShares" />
    <link:label xlink:type="resource" xlink:label="label_MaturityTermOfBuybackShares_1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_MaturityTermOfBuybackShares_1" xml:lang="en-US" id="label_MaturityTermOfBuybackShares_1">The maturity of buyback shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityTermOfBuybackShares" xlink:to="label_MaturityTermOfBuybackShares_1" xlink:title="Label : MaturityTermOfBuybackShares to label_MaturityTermOfBuybackShares_1" />
    <link:label xlink:type="resource" xlink:label="label_MaturityTermOfBuybackShares_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_MaturityTermOfBuybackShares_2" xml:lang="en-US" id="label_MaturityTermOfBuybackShares_2">Maturity term of buyback shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MaturityTermOfBuybackShares" xlink:to="label_MaturityTermOfBuybackShares_2" xlink:title="Label : MaturityTermOfBuybackShares to label_MaturityTermOfBuybackShares_2" />
    <link:label xlink:type="resource" xlink:label="label_ProfitLoss_6" xlink:role="http://www.xbrl.org/2003/role/positiveVerboseLabel" xlink:title="label_ProfitLoss_6" xml:lang="en-US" id="label_ProfitLoss_6">Profit for the year under the equity method</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProfitLoss" xlink:to="label_ProfitLoss_6" xlink:title="Label : ProfitLoss to label_ProfitLoss_6" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AssetsOfBenefitPlan" xlink:label="AssetsOfBenefitPlan" xlink:title="AssetsOfBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_AssetsOfBenefitPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsOfBenefitPlan" xml:lang="en-US" id="label_AssetsOfBenefitPlan">Assets of benefit plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsOfBenefitPlan" xlink:to="label_AssetsOfBenefitPlan" xlink:title="Label : AssetsOfBenefitPlan to label_AssetsOfBenefitPlan" />
    <link:label xlink:type="resource" xlink:label="label_AssetsOfBenefitPlan_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsOfBenefitPlan_1" xml:lang="en-US" id="label_AssetsOfBenefitPlan_1">Plan assets at fair value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsOfBenefitPlan" xlink:to="label_AssetsOfBenefitPlan_1" xlink:title="Label : AssetsOfBenefitPlan to label_AssetsOfBenefitPlan_1" />
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>10
<FILENAME>csan-20211231.xsd
<DESCRIPTION>SCHEMA
<TEXT>
<XBRL>
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  <xsd:element name="IncreaseDecreaseDueToApplicationOfIFRS9Member" id="csan_IncreaseDecreaseDueToApplicationOfIFRS9Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations" id="csan_TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LeaseAndConcessionInInstallmentsMember" id="csan_LeaseAndConcessionInInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CDIIndexPlus1Point79PercentMember" id="csan_CDIIndexPlus1Point79PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CDIIndexPlus2Point25PercentMember" id="csan_CDIIndexPlus2Point25PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="AtlanticoParticipacoesLtdaMember" id="csan_AtlanticoParticipacoesLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShareholdersEquityAttributableToAbstract" id="csan_ShareholdersEquityAttributableToAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NonCurrentSectorFinancialLiabilities" id="csan_NonCurrentSectorFinancialLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
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  <xsd:element name="FinanceLeaseLiabilitiesNonCurrent" id="csan_FinanceLeaseLiabilitiesNonCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
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  <xsd:element name="FinanceLeaseLiabilitiesCurrent" id="csan_FinanceLeaseLiabilitiesCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CurrentSectorFinancialAssets" id="csan_CurrentSectorFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DividendsReceivable1" id="csan_DividendsReceivable1" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="TUPPortoSaoLuisSAMember" id="csan_TUPPortoSaoLuisSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="August2028Member" id="csan_August2028Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="August2036Member" id="csan_August2036Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="CDIIndexPlus2Point00PercentMember" id="csan_CDIIndexPlus2Point00PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CDIIndexPlus1Point65PercentMember" id="csan_CDIIndexPlus1Point65PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IPCAIndexPlus5Point75PercentMember" id="csan_IPCAIndexPlus5Point75PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IPCAIndexPlus5Point22PercentMember" id="csan_IPCAIndexPlus5Point22PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="July2023Member" id="csan_July2023Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="IPCAIndexPlus4Point54PercentMember" id="csan_IPCAIndexPlus4Point54PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IPCAIndexPlus5Point73PercentMember" id="csan_IPCAIndexPlus5Point73PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IPCAIndexPlus3Point60PercentMember" id="csan_IPCAIndexPlus3Point60PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CDIIndex125Point5PercentMember" id="csan_CDIIndex125Point5PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="USDollarIndexPlus1Point36PercentMember" id="csan_USDollarIndexPlus1Point36PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorNotesDue2032Member" id="csan_SeniorNotesDue2032Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="IPCAIndexPlus4Point77PercentMember" id="csan_IPCAIndexPlus4Point77PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CDIIndexPlus1Point30PercentMember" id="csan_CDIIndexPlus1Point30PercentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="IncreaseDecreaseDueToApplicationOfIFRS16Member" id="csan_IncreaseDecreaseDueToApplicationOfIFRS16Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LeaseLiabilitiesRecognisedAsOfAcquisitionDate" id="csan_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ComprehensiveIncomeFromContinuingOperation" id="csan_ComprehensiveIncomeFromContinuingOperation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
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  <xsd:element name="IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" id="csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CommonStockDividendsDeclared" id="csan_CommonStockDividendsDeclared" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughInBusinessCombinations" id="csan_IncreaseDecreaseThroughInBusinessCombinations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ContributionsByAndDistributionsToOwnersOfParent" id="csan_ContributionsByAndDistributionsToOwnersOfParent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
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  <xsd:element name="TaxLiabilitiesRecognisedAsOfAcquisitionDate" id="csan_TaxLiabilitiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AdjustmentsForDepreciationAmortizationAndImpairmentExpense" id="csan_AdjustmentsForDepreciationAmortizationAndImpairmentExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForProvisionReversalOfLeaseAndConcession" id="csan_AdjustmentsForProvisionReversalOfLeaseAndConcession" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForIndexationChargesInterestAndExchangeNet" id="csan_AdjustmentsForIndexationChargesInterestAndExchangeNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" id="csan_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForDeferredRevenue" id="csan_AdjustmentsForDeferredRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForEmployeeBenefitsProvisions" id="csan_AdjustmentsForEmployeeBenefitsProvisions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForAllowanceForDoubtfulAccounts" id="csan_AdjustmentsForAllowanceForDoubtfulAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForCreditSalesToThirdParty" id="csan_AdjustmentsForCreditSalesToThirdParty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="TaxAssetsRecognisedAsOfAcquisitionDate" id="csan_TaxAssetsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="AdjustmentsForRecoveringTaxCredits" id="csan_AdjustmentsForRecoveringTaxCredits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ChangeInOperatingAssetsAndLiabilitiesAbstract" id="csan_ChangeInOperatingAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForOtherCurrentTaxNet" id="csan_AdjustmentsForOtherCurrentTaxNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInIncomeTaxAndOtherTax" id="csan_IncreaseDecreaseInIncomeTaxAndOtherTax" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" id="csan_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInProvisionForLegalProceedings" id="csan_IncreaseDecreaseInProvisionForLegalProceedings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities" id="csan_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInJudicialDeposits" id="csan_IncreaseDecreaseInJudicialDeposits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" id="csan_CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" id="csan_AdjustmentsForDecreaseIncreaseInSaleOfCreditRights" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" id="csan_AdjustmentForIncreaseDecreaseInPostEmploymentBenefits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" id="csan_AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsInConcessionsPayable" id="csan_AdjustmentsInConcessionsPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="BusinessCombinationNetOfCashAcquired" id="csan_BusinessCombinationNetOfCashAcquired" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PurchaseOfOtherFinancialAssets" id="csan_PurchaseOfOtherFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ProceedsFromDisposalOfDiscontinuedOperations" id="csan_ProceedsFromDisposalOfDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LoansAndBorrowingsAndDebenturesRaised" id="csan_LoansAndBorrowingsAndDebenturesRaised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RepaymentOfPrincipalOnLoansBorrowingsAndDebentures" id="csan_RepaymentOfPrincipalOnLoansBorrowingsAndDebentures" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PaymentOfInterestOfLoansBorrowingsAndDebentures" id="csan_PaymentOfInterestOfLoansBorrowingsAndDebentures" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PaymentsForDerivativeFinancialInstruments" id="csan_PaymentsForDerivativeFinancialInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ProceedsFromDerivativeFinancialInstruments" id="csan_ProceedsFromDerivativeFinancialInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PaymentsForDerivativeFinancialInstrumentsExceptDebt" id="csan_PaymentsForDerivativeFinancialInstrumentsExceptDebt" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ProceedsFromDerivativeFinancialInstrumentsExceptDebt" id="csan_ProceedsFromDerivativeFinancialInstrumentsExceptDebt" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="FullyPaidInIssuedCapital" id="csan_FullyPaidInIssuedCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" id="csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PaymentForAcquisitionOfNoncontrollingInterests" id="csan_PaymentForAcquisitionOfNoncontrollingInterests" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" id="csan_DividendsPaidOnPreferentialSharesClassifiedAsFinancingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" id="csan_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" id="csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RightOfUseAssetsRecognisedAsOfAcquisitionDate" id="csan_RightOfUseAssetsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="StatementTable" id="csan_StatementTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RezendeBarbosaSaMember" id="csan_RezendeBarbosaSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PaylySolucoesDePagamentosSaMember" id="csan_PaylySolucoesDePagamentosSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLogsticaMember" id="csan_CosanLogsticaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanSAMember" id="csan_CosanSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TypeOfArrangementsAxis" id="csan_TypeOfArrangementsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TypeOfArrangementsMember" id="csan_TypeOfArrangementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NorthSouthRailroadConcessionAgreementMember" id="csan_NorthSouthRailroadConcessionAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherLeaseAgreementsMember" id="csan_OtherLeaseAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StatementLineItems" id="csan_StatementLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" id="csan_TaxAssetsRecognitionRelatedToExclusionOfTaxOnSalesAndServices" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IntangibleAssetsAdditions" id="csan_IntangibleAssetsAdditions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CapitalContributionCapitalizationOfExpenses" id="csan_CapitalContributionCapitalizationOfExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NonCashSettlementOfReceivables" id="csan_NonCashSettlementOfReceivables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PaymentForAcquisitionOfAssetsInInstallments" id="csan_PaymentForAcquisitionOfAssetsInInstallments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AmountOfVotingEquityInterestsAcquired" id="csan_AmountOfVotingEquityInterestsAcquired" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AccountsPayable" id="csan_AccountsPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="TextBlockAbstract" id="csan_TextBlockAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebenturesIssuedMember" id="csan_DebenturesIssuedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCompanyHistoryAbstract" id="csan_DisclosureOfCompanyHistoryAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCompanyHistoryTextBlock" id="csan_DisclosureOfCompanyHistoryTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCorporateReorganizationAbstract" id="csan_DisclosureOfCorporateReorganizationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfShareholdersInAcquiree" id="csan_NumberOfShareholdersInAcquiree" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AnnualInstallmentsAmountInBusinessCombination" id="csan_AnnualInstallmentsAmountInBusinessCombination" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfFinancialAssetsAndLiabilitiesAbstract" id="csan_DisclosureOfFinancialAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCurrentTaxReceivablesExplanatory" id="csan_DisclosureOfCurrentTaxReceivablesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock" id="csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCommitmentsAbstract" id="csan_DisclosureOfCommitmentsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfConcessionsPayableExplanatory" id="csan_DisclosureOfConcessionsPayableExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSectorFinancialAssetAndLiabilityAbstract" id="csan_DisclosureOfSectorFinancialAssetAndLiabilityAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentPropertiesRecognisedAsOfAcquisitionDate" id="csan_InvestmentPropertiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfOtherTaxesPayableExplanatory" id="csan_DisclosureOfOtherTaxesPayableExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfFinancialResultsExplanatory" id="csan_DisclosureOfFinancialResultsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsAbstract" id="csan_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfAccountingPolicyForUseOfJudgementsAndEstimatesExplanatory" id="csan_DescriptionOfAccountingPolicyForUseOfJudgementsAndEstimatesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="JudicialDepositsRecognisedAsOfAcquisitionDate" id="csan_JudicialDepositsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherFinancialAssetsRecognisedAsOfAcquisitionDate" id="csan_OtherFinancialAssetsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfExchangeRatesOfRealForFunctionalCurrencyOfSubsidiariesExplanatory" id="csan_DisclosureOfExchangeRatesOfRealForFunctionalCurrencyOfSubsidiariesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate" id="csan_ReceivablesFromRelatedPartiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfFinancialInvestmentsTableTextBlock" id="csan_DisclosureOfFinancialInvestmentsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfMarketableSecuritiesAndRestrictedCashTableTextBlock" id="csan_DisclosureOfMarketableSecuritiesAndRestrictedCashTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfChangesInAllowanceForDoubtfulAccountsOfTradeReceivablesTableTextBlock" id="csan_DisclosureOfChangesInAllowanceForDoubtfulAccountsOfTradeReceivablesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAmountDueFromToRelatedPartyTableTextBlock" id="csan_DisclosureOfAmountDueFromToRelatedPartyTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNonCurrentBorrowingsTableTextBlock" id="csan_DisclosureOfNonCurrentBorrowingsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCarryingAmountsOfLoansBorrowingsAndDebenturesAreDenominatedByCurrenciesTableTextBlock" id="csan_DisclosureOfCarryingAmountsOfLoansBorrowingsAndDebenturesAreDenominatedByCurrenciesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfMovementsInLoansBorrowingsAndDebenturesTableTextBlock" id="csan_DisclosureOfMovementsInLoansBorrowingsAndDebenturesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfFinancialCovenantsTableTextBlock" id="csan_DisclosureOfFinancialCovenantsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MarketableSecuritiesRecognisedAsOfAcquisitionDate" id="csan_MarketableSecuritiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfForeignCurrencySensitivityAnalysisImpactOnProfitLossTableTextBlock" id="csan_DisclosureOfForeignCurrencySensitivityAnalysisImpactOnProfitLossTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfForeignCurrencySensitivityAnalysisTableTextBlock" id="csan_DisclosureOfForeignCurrencySensitivityAnalysisTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOnInterestRatesOnLoansAndBorrowingsWhichImpactsOnProfitOrLossTableTextBlock" id="csan_DisclosureOfSensitivityAnalysisOnInterestRatesOnLoansAndBorrowingsWhichImpactsOnProfitOrLossTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOnInterestRatesTableTextBlock" id="csan_DisclosureOfSensitivityAnalysisOnInterestRatesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOutstandingEnergyTradingOperationsTableTextBlock" id="csan_DisclosureOfOutstandingEnergyTradingOperationsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOnPriceRiskOfEnergyTradingOperationsTableTextBlock" id="csan_DisclosureOfSensitivityAnalysisOnPriceRiskOfEnergyTradingOperationsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MansillaParticipacoesLtdaMember" id="csan_MansillaParticipacoesLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureDetailsOfTradeReceivablesAndOtherCurrentAssetsExplanatory" id="csan_DisclosureDetailsOfTradeReceivablesAndOtherCurrentAssetsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfCurrentInventoriesExplanatory" id="csan_DisclosureOfCurrentInventoriesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatedCompaniesExplanatory" id="csan_DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatedCompaniesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfNonControllingInterestInConsolidatedSubsidiariesExplanatory" id="csan_DisclosureOfNonControllingInterestInConsolidatedSubsidiariesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDepreciationEstimatedUsefulLifeExplanatory" id="csan_DisclosureOfDepreciationEstimatedUsefulLifeExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfIntangibleAssetsExcludingGoodwillExplanatory" id="csan_DisclosureOfIntangibleAssetsExcludingGoodwillExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfConcessionsPayableAndJudicialDepositsExplanatory" id="csan_DisclosureOfConcessionsPayableAndJudicialDepositsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutJudicialDepositsExplanatory" id="csan_DisclosureOfDetailedInformationAboutJudicialDepositsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfLeasesAndGrantsRelatedToConcessionPayableTableTextBlock" id="csan_DisclosureOfLeasesAndGrantsRelatedToConcessionPayableTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfChangesInNetSectorFinancialAssetAndLiabilityTableTextBlock" id="csan_DisclosureOfChangesInNetSectorFinancialAssetAndLiabilityTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOtherThanIncomeTaxExplanatory" id="csan_DisclosureOfOtherThanIncomeTaxExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAmountsDueOnNoncurrentLiabilitiesOtherThanIncomeTaxExplanatory" id="csan_DisclosureOfAmountsDueOnNoncurrentLiabilitiesOtherThanIncomeTaxExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfReconciliationBetweenStatutoryTaxRateAndEffectiveTaxExpensesRateExplanatory" id="csan_DisclosureOfReconciliationBetweenStatutoryTaxRateAndEffectiveTaxExpensesRateExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfChangesInDeferredIncomeTaxesExplanatory" id="csan_DisclosureOfChangesInDeferredIncomeTaxesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfChangesInProvisionExplanatory" id="csan_DisclosureOfChangesInProvisionExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfPrincipalTaxProceedingsForWhichRiskOfLossIsProbableExplanatory" id="csan_DisclosureOfPrincipalTaxProceedingsForWhichRiskOfLossIsProbableExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfPrincipalProceedingsForWhichWeDeemRiskOfLossAsPossibleExplanatory" id="csan_DisclosureOfPrincipalProceedingsForWhichWeDeemRiskOfLossAsPossibleExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfClassesOfShareCapitalExplanatoryTextBlock" id="csan_DisclosureOfClassesOfShareCapitalExplanatoryTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailInfprmationOfComponentsOfOtherComprehensiveLossIncomeExplanatory" id="csan_DisclosureOfDetailInfprmationOfComponentsOfOtherComprehensiveLossIncomeExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAnalysisOfRevenueFromContinuingOperationsExplanatory" id="csan_DisclosureOfAnalysisOfRevenueFromContinuingOperationsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOperatingExpensesIncludingCostOfSalesExplanatory" id="csan_DisclosureOfOperatingExpensesIncludingCostOfSalesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailsOtherExpenseIncomeExplanatory" id="csan_DisclosureOfDetailsOtherExpenseIncomeExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisExplanatory" id="csan_DisclosureOfSensitivityAnalysisExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfForeignExchangeRiskExplanatory" id="csan_DisclosureOfForeignExchangeRiskExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfForeignCurrencySensitivityAnalysisImpactOnProfitLossExplanatory" id="csan_DisclosureOfForeignCurrencySensitivityAnalysisImpactOnProfitLossExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfForeignCurrencySensitivityAnalysisExplanatory" id="csan_DisclosureOfForeignCurrencySensitivityAnalysisExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOnIncomeForThePeriodAssumingIncreaseAndDecreaseInInterestRatesExplanatory" id="csan_DisclosureOfSensitivityAnalysisOnIncomeForThePeriodAssumingIncreaseAndDecreaseInInterestRatesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfInterestRateSensitivityAnalysisExplanatory" id="csan_DisclosureOfInterestRateSensitivityAnalysisExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfExpenseIncomeRecognizedNetDefinedBenefitLiabilityAssetExplanatory" id="csan_DisclosureOfExpenseIncomeRecognizedNetDefinedBenefitLiabilityAssetExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDefinedBenefitPlanRecognisedInAOCIExplanatory" id="csan_DisclosureOfDefinedBenefitPlanRecognisedInAOCIExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDefinedBenefitPlanAssumptionsForBenefitObligationsExplanatory" id="csan_DisclosureOfDefinedBenefitPlanAssumptionsForBenefitObligationsExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CosanSAIndustriaeComercioMember" id="csan_CosanSAIndustriaeComercioMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EquitysettledPlansMember" id="csan_EquitysettledPlansMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LegalReservesMember" id="csan_LegalReservesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PaymentOfFirstInstallmentInBusinessCombination" id="csan_PaymentOfFirstInstallmentInBusinessCombination" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfBackgroundAndOperationsAbstract" id="csan_DisclosureOfBackgroundAndOperationsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfBackgroundAndOperationsTable" id="csan_DisclosureOfBackgroundAndOperationsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLogisticaSAMember" id="csan_CosanLogisticaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ResolutionTypeAxis" id="csan_ResolutionTypeAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ResolutiontypeDomain" id="csan_ResolutiontypeDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Arsesp933ResolutionMember" id="csan_Arsesp933ResolutionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" id="csan_RedeIntegradaDeLojasDeConvennciasEProximidadeSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChangesInEquityAxis" id="csan_ChangesInEquityAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChangesInEquityDomain" id="csan_ChangesInEquityDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BeforeReductionOfEquityMember" id="csan_BeforeReductionOfEquityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AfterReductionOfEquityMember" id="csan_AfterReductionOfEquityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RailroadNetworkMember" id="csan_RailroadNetworkMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfBackgroundAndOperationsLineItems" id="csan_DisclosureOfBackgroundAndOperationsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExchangeRightsExercisedDuringPeriodShares" id="csan_ExchangeRightsExercisedDuringPeriodShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PaymentsForReplacementStockOptionsAwards" id="csan_PaymentsForReplacementStockOptionsAwards" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="FairValueOfShareReceived" id="csan_FairValueOfShareReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfShareHolderinPutOption" id="csan_PercentageOfShareHolderinPutOption" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSaleInStockSubsidiary" id="csan_NumberOfSaleInStockSubsidiary" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="SalesPercentageOfStockInSubsidiary" id="csan_SalesPercentageOfStockInSubsidiary" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CashContributions" id="csan_CashContributions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfIssuanceOfNewCommonShares" id="csan_PercentageOfIssuanceOfNewCommonShares" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CapitalContribution" id="csan_CapitalContribution" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ResolutionAmountApproved" id="csan_ResolutionAmountApproved" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="InvestmentInJointVenture" id="csan_InvestmentInJointVenture" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="GainLossFromFormationOfJointVenture" id="csan_GainLossFromFormationOfJointVenture" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ContractualTerm" id="csan_ContractualTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BidAmountAdjustedWithContratualParameters" id="csan_BidAmountAdjustedWithContratualParameters" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="BidAmount" id="csan_BidAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PaymentsForAuction" id="csan_PaymentsForAuction" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfCashPaymentInAuction" id="csan_PercentageOfCashPaymentInAuction" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="NumberOfPurchaseOptions" id="csan_NumberOfPurchaseOptions" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ProceedsFromSaleOfEquitySharesHeldByControlledTrust" id="csan_ProceedsFromSaleOfEquitySharesHeldByControlledTrust" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RaizenCombustiveisSAMember" id="csan_RaizenCombustiveisSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLubesInvestmentsLimitedMember" id="csan_CosanLubesInvestmentsLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoSAMember" id="csan_RumoSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ComgasMember" id="csan_ComgasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaPaulistaSAMember" id="csan_RumoMalhaPaulistaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RaizenArgentinaMember" id="csan_RaizenArgentinaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" id="csan_RedeIntegradaDeLojasDeConvenenciasEProximidadeSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BancoSantanderBrasilSAMember" id="csan_BancoSantanderBrasilSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SwapContractForSharesMember" id="csan_SwapContractForSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnusualOrInfrequentItemsAxis" id="csan_UnusualOrInfrequentItemsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnusualOrInfrequentItemsDomain" id="csan_UnusualOrInfrequentItemsDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CovidNineteenMember" id="csan_CovidNineteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RaizenCombustiveisMember" id="csan_RaizenCombustiveisMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LogisticsMember" id="csan_LogisticsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GasAndPowerMember" id="csan_GasAndPowerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MooveMember" id="csan_MooveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FuelsMember" id="csan_FuelsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GasolineAndEthanolMember" id="csan_GasolineAndEthanolMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AviationFuelsMember" id="csan_AviationFuelsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IndustrialSegmentMember" id="csan_IndustrialSegmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommercialSegmentMember" id="csan_CommercialSegmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ResidentialSegmentMember" id="csan_ResidentialSegmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDevelopmentOfCompanyLineItems" id="csan_DisclosureOfDevelopmentOfCompanyLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" id="csan_PercentageOfIssuanceOfNewCommonSharesForInvestmentAgreement" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ContractualBidAmount" id="csan_ContractualBidAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ContractualBidAmountAdjustedWithContratualParameters" id="csan_ContractualBidAmountAdjustedWithContratualParameters" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PeriodOfCashPaymentToBeMadeInAuction" id="csan_PeriodOfCashPaymentToBeMadeInAuction" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" id="csan_NumberOfQuarterlyInstallmentsCalculatedPursuantToTheTermsOfTheConcessionAgreement" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" id="csan_MaximumAggregateAmountOfDerivativesWhichMayBeNegotiatedPursuantToAgreement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" id="csan_MaximumAggregateNumberOfUnderlyingSharesPursuantToAgreement" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="NewGrantAmountForSubConcessionContracts" id="csan_NewGrantAmountForSubConcessionContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="RepaymentOfGrantsForSubConcessionContracts" id="csan_RepaymentOfGrantsForSubConcessionContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="EstimatedInvestmentsToBeMadeForSubConcessionContracts" id="csan_EstimatedInvestmentsToBeMadeForSubConcessionContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ShareIssuePrice" id="csan_ShareIssuePrice" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfDecreasedConsumption" id="csan_PercentageOfDecreasedConsumption" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfDecreasedDemand" id="csan_PercentageOfDecreasedDemand" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfDecreasedSales" id="csan_PercentageOfDecreasedSales" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="VolumeTransportedPerKilometer" id="csan_VolumeTransportedPerKilometer" type="num:massItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfIncreasedVolumeTransported" id="csan_PercentageOfIncreasedVolumeTransported" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfDecreasedVolumeTransported" id="csan_PercentageOfDecreasedVolumeTransported" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfDecreasedDemandForTransportationOfGrains" id="csan_PercentageOfDecreasedDemandForTransportationOfGrains" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfDecreasedDemandForNaturalGas" id="csan_PercentageOfDecreasedDemandForNaturalGas" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfIncreasedDemandForNaturalGas" id="csan_PercentageOfIncreasedDemandForNaturalGas" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfIncreasedVolumeSold" id="csan_PercentageOfIncreasedVolumeSold" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CashAndCashEquivalentsAndMarketableSecurities" id="csan_CashAndCashEquivalentsAndMarketableSecurities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ProceedsFromFinancingFacilitiesContractedByJointVentures" id="csan_ProceedsFromFinancingFacilitiesContractedByJointVentures" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LeverageRatio" id="csan_LeverageRatio" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="CosanLimitedMember" id="csan_CosanLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ConversionRatioPerShareOfAcquireeUponMerger" id="csan_ConversionRatioPerShareOfAcquireeUponMerger" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ConversionRatioPerShareOfAcquirerUponMerger" id="csan_ConversionRatioPerShareOfAcquirerUponMerger" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfForeignExchangeRatesTable" id="csan_DisclosureOfForeignExchangeRatesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfForeignExchangeRatesLineItems" id="csan_DisclosureOfForeignExchangeRatesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ForeignCurrencyExchangeRate" id="csan_ForeignCurrencyExchangeRate" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="AccumulatedAdjustmentsOfAdditionalPaidinCapital" id="csan_AccumulatedAdjustmentsOfAdditionalPaidinCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="RaizenEnergiaMember" id="csan_RaizenEnergiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompanhiaDeGasDeSaoPauloMember" id="csan_CompanhiaDeGasDeSaoPauloMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanCorporateMember" id="csan_CosanCorporateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GrossRevenue" id="csan_GrossRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherSelectedDataAbstract" id="csan_OtherSelectedDataAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EarningsBeforeInterestTaxDepreciationAndAmortization" id="csan_EarningsBeforeInterestTaxDepreciationAndAmortization" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" id="csan_AdditionsToPropertyPlantAndEquipmentIntangibleAndContractAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" id="csan_ReconciliationOfEarningsBeforeInterestTaxDepreciationAndAmortizationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MarketableSecurities1" id="csan_MarketableSecurities1" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherCurrentAssetsOther" id="csan_OtherCurrentAssetsOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherNonCurrentAssetsOther" id="csan_OtherNonCurrentAssetsOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="TradePayable" id="csan_TradePayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="SectorFinancialLiabilities" id="csan_SectorFinancialLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="OtherCurrentLiabilitiesClassifiedAsOther" id="csan_OtherCurrentLiabilitiesClassifiedAsOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LeaseLiabilitiesFinance" id="csan_LeaseLiabilitiesFinance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherNoncurrentLiabilitiesOther" id="csan_OtherNoncurrentLiabilitiesOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="NominalValueOfHedgingInstruments" id="csan_NominalValueOfHedgingInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="EthanolMember" id="csan_EthanolMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SugarMember" id="csan_SugarMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CogenerationMember" id="csan_CogenerationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherMember" id="csan_OtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IndustrialMember" id="csan_IndustrialMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ResidentialMember" id="csan_ResidentialMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AutomotiveMember" id="csan_AutomotiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ConstructionRevenueMember" id="csan_ConstructionRevenueMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinishedGoodsMember" id="csan_FinishedGoodsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BasicOilMember" id="csan_BasicOilMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ContainerOperationsMember" id="csan_ContainerOperationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GasMember" id="csan_GasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DieselMember" id="csan_DieselMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommercialMember" id="csan_CommercialMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ServicesMember" id="csan_ServicesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NorthOperationsMember" id="csan_NorthOperationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SouthOperationsMember" id="csan_SouthOperationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AsiaAndOtherMember" id="csan_AsiaAndOtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MajorCustomerMember" id="csan_MajorCustomerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashAndCashEquivalentMember" id="csan_CashAndCashEquivalentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MarketableSecuritiesMember" id="csan_MarketableSecuritiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RestrictedCashMember" id="csan_RestrictedCashMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReceivablesFromRelatedPartiesMember" id="csan_ReceivablesFromRelatedPartiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SectorFinancialAssetsMember" id="csan_SectorFinancialAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DividendsReceivableMember" id="csan_DividendsReceivableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherFinancialAssetMember" id="csan_OtherFinancialAssetMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LoansBorrowingsAndDebenturesMember" id="csan_LoansBorrowingsAndDebenturesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LeasesMember" id="csan_LeasesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TradePayablesMember" id="csan_TradePayablesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherFinancialLiabilityMember" id="csan_OtherFinancialLiabilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PayablesToRelatedPartiesMember" id="csan_PayablesToRelatedPartiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RailroadConcessionPayableMember" id="csan_RailroadConcessionPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PreferredShareholdersPayableInSubsidiariesMember" id="csan_PreferredShareholdersPayableInSubsidiariesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DividendsPayableMember" id="csan_DividendsPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SectorFinancialLiabilitiesMember" id="csan_SectorFinancialLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TaxInstallmentsREFISMember" id="csan_TaxInstallmentsREFISMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashAndCashEquivalentsTable" id="csan_CashAndCashEquivalentsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BankInvestmentsMember" id="csan_BankInvestmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RepurchaseAgreements1Member" id="csan_RepurchaseAgreements1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BankCertificateOfDepositsMember" id="csan_BankCertificateOfDepositsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherBankInvestmentsMember" id="csan_OtherBankInvestmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashAndCashEquivalents1LineItems" id="csan_CashAndCashEquivalents1LineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfInstallmentsForPaymentOfConsideration" id="csan_NumberOfInstallmentsForPaymentOfConsideration" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfFinancialResourcesTable" id="csan_DisclosureOfFinancialResourcesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherAssetsRecognisedAsOfAcquisitionDate" id="csan_OtherAssetsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="BNDESMember" id="csan_BNDESMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ThreeBrazilianFinancialInstitutionsMember" id="csan_ThreeBrazilianFinancialInstitutionsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IndirectOwnershipMember" id="csan_IndirectOwnershipMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DirectOwnershipMember" id="csan_DirectOwnershipMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialCommitmentsAxis" id="csan_FinancialCommitmentsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialCommitmentsDomain" id="csan_FinancialCommitmentsDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InterBankDepositCertificateMember" id="csan_InterBankDepositCertificateMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FEDFUNDSMember" id="csan_FEDFUNDSMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OwnershipStatusDomain" id="csan_OwnershipStatusDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CDIIndexMember" id="csan_CDIIndexMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TJLPIndexMember" id="csan_TJLPIndexMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfFinancialResourcesLineItems" id="csan_DisclosureOfFinancialResourcesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfOnshoreFinancialInvestmentsRemuneration" id="csan_PercentageOfOnshoreFinancialInvestmentsRemuneration" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfOffshoreFinancialInvestmentsRemuneration" id="csan_PercentageOfOffshoreFinancialInvestmentsRemuneration" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="OwnershipStatusAxis" id="csan_OwnershipStatusAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" id="csan_ScheduleOfValuationTechniquesUsedInGoodwillAcquiredThroughBusinessCombinationTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="GuaranteeFeeRate" id="csan_GuaranteeFeeRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BalanceOfBankGuaranteesContracted" id="csan_BalanceOfBankGuaranteesContracted" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LineOfCreditFacilityRemainingBorrowingCapacity1" id="csan_LineOfCreditFacilityRemainingBorrowingCapacity1" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ScheduleOfConsiderationTransferredInBusinessCombinationTableTextBlock" id="csan_ScheduleOfConsiderationTransferredInBusinessCombinationTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" id="csan_ScheduleOfNonControllingInterestInAcquireeThroughBusinessCombinationTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock" id="csan_ScheduleOfAcquiredEntitiesAsGroupAcquisitionThroughBusinessCombinationTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CompassGroupAcquisitionMember" id="csan_CompassGroupAcquisitionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RadarGroupAcquisitionMember" id="csan_RadarGroupAcquisitionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="HedgedRiskPositonPercentage" id="csan_HedgedRiskPositonPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" id="csan_AdjustmentAmountOfInstallmentsByExtendedNationalConsumerPriceIndexForConsiderationPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MarketableSecuritiesTable" id="csan_MarketableSecuritiesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GovernmentSecuritiesMember" id="csan_GovernmentSecuritiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RepurchaseAgreementsMember" id="csan_RepurchaseAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfMarketableSecuritiesLineItems" id="csan_DisclosureOfMarketableSecuritiesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" id="csan_PrincipalAmountOfConsiderationTransferredAcquisitionDateFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfRestrictedCashAndCashEquivalentsTable" id="csan_DisclosureOfRestrictedCashAndCashEquivalentsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SecuritiesPledgedAsCollateral1Member" id="csan_SecuritiesPledgedAsCollateral1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfRestrictedCashAndCashEquivalentsLineItems" id="csan_DisclosureOfRestrictedCashAndCashEquivalentsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TradeReceivablesAbstract" id="csan_TradeReceivablesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfTradeReceivablesTable" id="csan_DisclosureOfTradeReceivablesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DomesticBrazilianReaisMember" id="csan_DomesticBrazilianReaisMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExportForeignCurrencyMember" id="csan_ExportForeignCurrencyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReceivablesByBillingStatusTypeAxis" id="csan_ReceivablesByBillingStatusTypeAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReceivablesBillingStatus1Domain" id="csan_ReceivablesBillingStatus1Domain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnbilledReceivablesMember" id="csan_UnbilledReceivablesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfTradeReceivablesLineItems" id="csan_DisclosureOfTradeReceivablesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NotDueMember" id="csan_NotDueMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OverdueOneToThirtyDaysMember" id="csan_OverdueOneToThirtyDaysMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OverdueThirtyOneToSixtyDaysMember" id="csan_OverdueThirtyOneToSixtyDaysMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OverdueSixtyOneToNinetyDaysMember" id="csan_OverdueSixtyOneToNinetyDaysMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MoreThanNinetyDaysMember" id="csan_MoreThanNinetyDaysMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AllowanceForDoubtfulAccounts" id="csan_AllowanceForDoubtfulAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" id="csan_ProvisionReversalsAllowanceForDoubtfulAccountsReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="WriteOffAllowanceForDoubtfulAccountsReceivable" id="csan_WriteOffAllowanceForDoubtfulAccountsReceivable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfReceivablesAndPayablesTable" id="csan_DisclosureOfReceivablesAndPayablesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CorporateOperationAgreementsMember" id="csan_CorporateOperationAgreementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PreferredSharesMember" id="csan_PreferredSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialOperationsMember" id="csan_FinancialOperationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AguassantaParticipacoesSAMember" id="csan_AguassantaParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JanusBrasilParticipacoesSAMember" id="csan_JanusBrasilParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CurrentAssetMember" id="csan_CurrentAssetMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NoncurrentAssetMember" id="csan_NoncurrentAssetMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfReceivablesAndPayablesLineItems" id="csan_DisclosureOfReceivablesAndPayablesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AguassantaInvestimentosSAMember" id="csan_AguassantaInvestimentosSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RaizenInternationalUniversalCorporationMember" id="csan_RaizenInternationalUniversalCorporationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UsinaSantaLuizaMember" id="csan_UsinaSantaLuizaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PurchaseOfGoodsMember" id="csan_PurchaseOfGoodsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialResultMember" id="csan_FinancialResultMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeExpenseFromRelatedPartyTransactions" id="csan_IncomeExpenseFromRelatedPartyTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="FinanceIncomeCostRelatedPartyTransactions" id="csan_FinanceIncomeCostRelatedPartyTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OperatingRevenueFromRelatedPartyTransactions" id="csan_OperatingRevenueFromRelatedPartyTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="SecuredBorrowingsMember" id="csan_SecuredBorrowingsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnsecuredBorrowingsMember" id="csan_UnsecuredBorrowingsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BrazilianNationalEconomicandSocialDevelopmentBankMember" id="csan_BrazilianNationalEconomicandSocialDevelopmentBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExportCreditAgreementMember" id="csan_ExportCreditAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EuropeanInvestmentBankMember" id="csan_EuropeanInvestmentBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ForeignLoansMember" id="csan_ForeignLoansMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExportCreditNoteMember" id="csan_ExportCreditNoteMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Resolution4131Member" id="csan_Resolution4131Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BankingCreditCertificatesMember" id="csan_BankingCreditCertificatesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="SeniorNotesDue2023Member" id="csan_SeniorNotesDue2023Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="ElectricityAndTransportationSuppliersMember" id="csan_ElectricityAndTransportationSuppliersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FuelAndLubricantsSuppliersMember" id="csan_FuelAndLubricantsSuppliersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfTradeAndOtherPayablesLineItems" id="csan_DisclosureOfTradeAndOtherPayablesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfMovementObligationWithPreferredShareholdersAbstract" id="csan_DisclosureOfMovementObligationWithPreferredShareholdersAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfMovementObligationWithPreferredShareholdersTable" id="csan_DisclosureOfMovementObligationWithPreferredShareholdersTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfMovementObligationWithPreferredShareholdersLineItems" id="csan_DisclosureOfMovementObligationWithPreferredShareholdersLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PreferredShareHoldersDividendDistribution" id="csan_PreferredShareHoldersDividendDistribution" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PreferredShareHoldersMonetaryVariation" id="csan_PreferredShareHoldersMonetaryVariation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ElectricityDerivativesMember" id="csan_ElectricityDerivativesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExchangeRateDerivativesMember" id="csan_ExchangeRateDerivativesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InterestRateAndExchangeRateRiskMember" id="csan_InterestRateAndExchangeRateRiskMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommodityForwardContractMember" id="csan_CommodityForwardContractMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InflationAndInterestRateSwapContractMember" id="csan_InflationAndInterestRateSwapContractMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExchangeAndInterestRateSwapContractMember" id="csan_ExchangeAndInterestRateSwapContractMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DerivativeFinancialInstruments" id="csan_DerivativeFinancialInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="FairValueOfDerivativeFinancialAssetsLiability" id="csan_FairValueOfDerivativeFinancialAssetsLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" id="csan_DisclosureOfForeignCurrencyRelatedHedgingInstrumentsAndInterestRateSwapsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="HedgingDesignation1Domain" id="csan_HedgingDesignation1Domain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DesignatedAsHedgingInstrumentsMember" id="csan_DesignatedAsHedgingInstrumentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebenturesThirdIssueThirdSeriesMember" id="csan_DebenturesThirdIssueThirdSeriesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebenturesFifthIssueSingleSeriesMember" id="csan_DebenturesFifthIssueSingleSeriesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorSwapsNotesDue2023Member" id="csan_SeniorSwapsNotesDue2023Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorSwapsNotesDue2024Member" id="csan_SeniorSwapsNotesDue2024Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorSwapsNotesDue2025Member" id="csan_SeniorSwapsNotesDue2025Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="AccumulatedFairValueHedgeAdjustmentOfBorrowings" id="csan_AccumulatedFairValueHedgeAdjustmentOfBorrowings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
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  <xsd:element name="NetCurrencyAndInterestRateInstruments" id="csan_NetCurrencyAndInterestRateInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" id="csan_NetAccumulatedFairValueAdjustmentOfCurrencyAndInterestRateInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
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  <xsd:element name="SeniorNotesDueTwoThousandAndTwentyFourMember" id="csan_SeniorNotesDueTwoThousandAndTwentyFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="SeniorNotesDueTwoThousandAndTwentyFiveMember" id="csan_SeniorNotesDueTwoThousandAndTwentyFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorNotesDueTwoZeroTwoSevenMember" id="csan_SeniorNotesDueTwoZeroTwoSevenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebtInstrumentQuotedMarketPricePercentage" id="csan_DebtInstrumentQuotedMarketPricePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="InvestmentFundMember" id="csan_InvestmentFundMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="CashFlowForecastingMember" id="csan_CashFlowForecastingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="CreditRatingMember" id="csan_CreditRatingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="DisclosureOfSensitivityAnalysisOfFinancialInstrumentsChangesInForeignExchangeRatesAbstract" id="csan_DisclosureOfSensitivityAnalysisOfFinancialInstrumentsChangesInForeignExchangeRatesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="ActuarialAssumptionOfChangeInInterestRateTwoMember" id="csan_ActuarialAssumptionOfChangeInInterestRateTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOfFinancialInstrumentsChangesInForeignExchangeRatesLineItems" id="csan_DisclosureOfSensitivityAnalysisOfFinancialInstrumentsChangesInForeignExchangeRatesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="ActuarialAssumptionsPercentageTwoIncreaseMember" id="csan_ActuarialAssumptionsPercentageTwoIncreaseMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ActuarialAssumptionsPercentageOneDecreaseMember" id="csan_ActuarialAssumptionsPercentageOneDecreaseMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" id="csan_ForeignCurrencySensitivityAnalysisRiskFactorImpactOnProfitLossDescription" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="SensitivityAnalysisImpactOnProfitLoss" id="csan_SensitivityAnalysisImpactOnProfitLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
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  <xsd:element name="IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" id="csan_IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleIncreaseInActuarialAssumption" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" id="csan_IncreaseDecreaseInForeignExchangeDueToReasonablyPossibleDecreaseInActuarialAssumption" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOnIncomeForThePeriodAssumingIncreaseAndDecreaseInInterestRatesAbstract" id="csan_DisclosureOfSensitivityAnalysisOnIncomeForThePeriodAssumingIncreaseAndDecreaseInInterestRatesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="UnsecuredLiability" id="csan_UnsecuredLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="OtherFinancialLiabilitiesMember" id="csan_OtherFinancialLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSensitivityAnalysisOnIncomeForThePeriodAssumingIncreaseAndDecreaseInInterestRatesLineItems" id="csan_DisclosureOfSensitivityAnalysisOnIncomeForThePeriodAssumingIncreaseAndDecreaseInInterestRatesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="TJLPFourSixTwoTJLPPlusOnePercentageMember" id="csan_TJLPFourSixTwoTJLPPlusOnePercentageMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TJLPMember" id="csan_TJLPMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IPCAMember" id="csan_IPCAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="LIBORMember" id="csan_LIBORMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="CreditRatingSourceDomain" id="csan_CreditRatingSourceDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AAACreditRatingMember" id="csan_AAACreditRatingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="FuelDerivativesMember" id="csan_FuelDerivativesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NonDerivativeFinancialLiabilities" id="csan_NonDerivativeFinancialLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="TradeAndOtherCurrentReceivablesTable" id="csan_TradeAndOtherCurrentReceivablesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CofinsRevenueTaxMember" id="csan_CofinsRevenueTaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ICMSTaxesMember" id="csan_ICMSTaxesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ICMSCIAPTaxesMember" id="csan_ICMSCIAPTaxesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PISRevenueTaxMember" id="csan_PISRevenueTaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CreditInstallmentMember" id="csan_CreditInstallmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherTaxesMember" id="csan_OtherTaxesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TradeAndOtherCurrentReceivablesLineItems" id="csan_TradeAndOtherCurrentReceivablesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FederalSupremeCourtMember" id="csan_FederalSupremeCourtMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeGrantFromJudicialPrecedent" id="csan_IncomeGrantFromJudicialPrecedent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PisAndCofinsMember" id="csan_PisAndCofinsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialResults" id="csan_FinancialResults" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="WarehouseAndOthers" id="csan_WarehouseAndOthers" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="RadarIIPropriedadesAgricolasSAMember" id="csan_RadarIIPropriedadesAgricolasSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RadarPropriedadesAgricolasSAMember" id="csan_RadarPropriedadesAgricolasSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TellusBrasilParticipacoesSAMember" id="csan_TellusBrasilParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherInvestmentsMember" id="csan_OtherInvestmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InterestOfCosanLogisticaSaMember" id="csan_InterestOfCosanLogisticaSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompanhiaDeGasDeSaoPauloComgasMember" id="csan_CompanhiaDeGasDeSaoPauloComgasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompassGasEEnergiaSAMember" id="csan_CompassGasEEnergiaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanCaymanIILimitedMember" id="csan_CosanCaymanIILimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanGlobalLimitedMember" id="csan_CosanGlobalLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanInvestimentoseParticipacoesSAMember" id="csan_CosanInvestimentoseParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLuxembourgSAMember" id="csan_CosanLuxembourgSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanOverseasLimitedMember" id="csan_CosanOverseasLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PasadenaEmpreendimentoseParticipacoesSAMember" id="csan_PasadenaEmpreendimentoseParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PaylySolucoesDePagamentosSAMember" id="csan_PaylySolucoesDePagamentosSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MooveLubricantsLimitedMember" id="csan_MooveLubricantsLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanCincoSAMember" id="csan_CosanCincoSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AirportEnergyLimitedMember" id="csan_AirportEnergyLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AirportEnergyServicesLimitedMember" id="csan_AirportEnergyServicesLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="WessesxPetroleumLimitedMember" id="csan_WessesxPetroleumLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StanbridgeGroupLimitedMember" id="csan_StanbridgeGroupLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLubricantsEspanaSLUMember" id="csan_CosanLubricantsEspanaSLUMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TTAMember" id="csan_TTAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLubrificantesSRLMember" id="csan_CosanLubrificantesSRLMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LubrigrupoiiMember" id="csan_LubrigrupoiiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommaOilAndChemicalsMarketingSRLMember" id="csan_CommaOilAndChemicalsMarketingSRLMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommaOtomotivYagVeKimyasallariMember" id="csan_CommaOtomotivYagVeKimyasallariMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PazarlamaLimitedSirketiMember" id="csan_PazarlamaLimitedSirketiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommaOilAndChemicalsMarketingBVMember" id="csan_CommaOilAndChemicalsMarketingBVMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommercialLubricantsMooveCorpMember" id="csan_CommercialLubricantsMooveCorpMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLubrificanteseEspecialidadesSAMember" id="csan_CosanLubrificanteseEspecialidadesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanUSIncMember" id="csan_CosanUSIncMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IlhaTerminalDistribuicaoDeProdutosQuimicosMember" id="csan_IlhaTerminalDistribuicaoDeProdutosQuimicosMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ZipLubeSAMember" id="csan_ZipLubeSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanParaguaySAMember" id="csan_CosanParaguaySAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaOesteSAMember" id="csan_RumoMalhaOesteSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaSulSAMember" id="csan_RumoMalhaSulSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaNorteSAMember" id="csan_RumoMalhaNorteSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaCentralSAMember" id="csan_RumoMalhaCentralSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ElevacoesPortuariasSAMember" id="csan_ElevacoesPortuariasSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LogispotArmazensGeraisSAMember" id="csan_LogispotArmazensGeraisSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoLuxembourgSarlMember" id="csan_RumoLuxembourgSarlMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoIntermodalSAMember" id="csan_RumoIntermodalSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BoswellsSAMember" id="csan_BoswellsSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ALLArgentinaSAMember" id="csan_ALLArgentinaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ParanaguaSAMember" id="csan_ParanaguaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ALLArmazensGeraisLtdaMember" id="csan_ALLArmazensGeraisLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PortoferLtdaMember" id="csan_PortoferLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ALLMesopotamicaSAMember" id="csan_ALLMesopotamicaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ALLCentralSAMember" id="csan_ALLCentralSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ServiciosDeInversionLogisticaIntegralesSAMember" id="csan_ServiciosDeInversionLogisticaIntegralesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BradoLogisticaeParticipacoesSAMember" id="csan_BradoLogisticaeParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BradoLogisticaSAMember" id="csan_BradoLogisticaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DistribuidoraDeGasParticipacoesSAMember" id="csan_DistribuidoraDeGasParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLimitedPartnersBrasilConsultoriaLtdaMember" id="csan_CosanLimitedPartnersBrasilConsultoriaLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SinlogTecnologiaEmLogsticaSaMember" id="csan_SinlogTecnologiaEmLogsticaSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfAssociatesAndJointVenturesLineItems" id="csan_DisclosureOfAssociatesAndJointVenturesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesHeldByParent" id="csan_NumberOfSharesHeldByParent" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ProportionOfEconomicBenefits" id="csan_ProportionOfEconomicBenefits" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" id="csan_ShareOfComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethod" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherTransactionsInAssociates" id="csan_OtherTransactionsInAssociates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="SinlogTecnologiaEmLogsticaMember" id="csan_SinlogTecnologiaEmLogsticaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMember" id="csan_RumoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EquityPercentSold" id="csan_EquityPercentSold" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="StatementOfFinancialStatementsAbstract" id="csan_StatementOfFinancialStatementsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StatementOfFinancialStatementsTable" id="csan_StatementOfFinancialStatementsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CliMember" id="csan_CliMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PaylyMember" id="csan_PaylyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SinlogTecnologiaEmLogisticaSaMember" id="csan_SinlogTecnologiaEmLogisticaSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TtaMember" id="csan_TtaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLogisticaMember" id="csan_CosanLogisticaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SharesHeldByNoncontrollingShareholders" id="csan_SharesHeldByNoncontrollingShareholders" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="SalesOrPurchaseOfInterestsInNoncontrollingInterests" id="csan_SalesOrPurchaseOfInterestsInNoncontrollingInterests" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherComprehensiveIncomeLoss" id="csan_OtherComprehensiveIncomeLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="OtherTransactions" id="csan_OtherTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="NetNonCurrentAssetsLiabilitiesAbstract" id="csan_NetNonCurrentAssetsLiabilitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NoncurrentAssetsLiabilities" id="csan_NoncurrentAssetsLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="NumberOfInstrumentOrInterestIssuedOrIssuable" id="csan_NumberOfInstrumentOrInterestIssuedOrIssuable" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="CompassComercializadoraDeEnergiaLtdaMember" id="csan_CompassComercializadoraDeEnergiaLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompassGeracaoLtdaMember" id="csan_CompassGeracaoLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompassEnergiaLtdaMember" id="csan_CompassEnergiaLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BlackRiverParticipacoesLtdaMember" id="csan_BlackRiverParticipacoesLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TradeReceivablesRecognisedAsOfAcquisitionDate" id="csan_TradeReceivablesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherTaxReceivableRecognisedAsOfAcquisitionDate" id="csan_OtherTaxReceivableRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" id="csan_DerivativeFinancialInstrumentsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherCurrentAssetsRecognisedAsOfAcquisitionDate" id="csan_OtherCurrentAssetsRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="TradePayablesRecognisedAsOfAcquisitionDate" id="csan_TradePayablesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="OtherTaxesPayableRecognisedAsOfAcquisitionDate" id="csan_OtherTaxesPayableRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="OtherLiabilitiesRecognisedAsOfAcquisitionDate" id="csan_OtherLiabilitiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" id="csan_OtherFinancialLiabilitiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DividendsPayableRecognisedAsOfAcquisitionDate" id="csan_DividendsPayableRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" id="csan_PayablesToRelatedPartiesRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" id="csan_DisclosureOfAnalysisOfChangesInTheCarryingValueOfInvestmentsInJointVenturesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RaizenEnergiaSAMember" id="csan_RaizenEnergiaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" id="csan_ShareOfTotalComprehensiveIncomeOfJointVenturesAccountedForUsingEquityMethod" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="InterestOnCapital" id="csan_InterestOnCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DividendsReceivedFromJointVentures" id="csan_DividendsReceivedFromJointVentures" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IfrsSixteenMember" id="csan_IfrsSixteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfJointVentures" id="csan_NumberOfJointVentures" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" id="csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLogsticaSAMember" id="csan_CosanLogsticaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" id="csan_ImpairmentLossRecognisedInProfitOrLossRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AssumptionPeriodForCashGeneratingUnit" id="csan_AssumptionPeriodForCashGeneratingUnit" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="WeightedAverageCostOfCapitalBeforeTaxesPercentage" id="csan_WeightedAverageCostOfCapitalBeforeTaxesPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ImpairmentTestsRecoverableValue" id="csan_ImpairmentTestsRecoverableValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" id="csan_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssetsAndRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="GrowthRateBasisUsedToExtrapolateCashFlowProjections" id="csan_GrowthRateBasisUsedToExtrapolateCashFlowProjections" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" id="csan_AdjustmentToGrowthRateBasisUsedToExtrapolateCashFlowProjections" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" id="csan_BookValueOfPropertyPlantAndEquipmentAndIntangibleAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DescriptionOfAgreementOfIntangibleAssets" id="csan_DescriptionOfAgreementOfIntangibleAssets" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BuildingsAndImprovementsMember" id="csan_BuildingsAndImprovementsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MachineryEquipmentAndFacilitiesMember" id="csan_MachineryEquipmentAndFacilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RailcarsMember" id="csan_RailcarsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LocomotivesMember" id="csan_LocomotivesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PermanentRailwaysMember" id="csan_PermanentRailwaysMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RailcarsAndLocomotivesMember" id="csan_RailcarsAndLocomotivesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PermanentEasementMember" id="csan_PermanentEasementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" id="csan_IncreaseDecreaseThroughDisposalPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="WagonsAndLocomotivesMember" id="csan_WagonsAndLocomotivesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BankLoanGuarantee" id="csan_BankLoanGuarantee" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" id="csan_IncreasedecreaseThroughTransfersFromtoRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OperatingLicenseMember" id="csan_OperatingLicenseMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" id="csan_IncreaseDecreaseThroughDiscontinuedOperationIntangibleAssetsAndGoodwill" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TTASASTechniquesEtTechnologiesAppliqueesMember" id="csan_TTASASTechniquesEtTechnologiesAppliqueesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LubrigrupoiiSAMember" id="csan_LubrigrupoiiSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MetrolubeMember" id="csan_MetrolubeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ImprovementsToPublicConcessionsAndOperatingLicenseMember" id="csan_ImprovementsToPublicConcessionsAndOperatingLicenseMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MobilMember" id="csan_MobilMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommaMember" id="csan_CommaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ALLMalhaNorteMember" id="csan_ALLMalhaNorteMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfAmortizationRate" id="csan_PercentageOfAmortizationRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="FreightCarsAndLocomotivesMember" id="csan_FreightCarsAndLocomotivesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SoftwareMember" id="csan_SoftwareMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PortAndRailInfrastructureMember" id="csan_PortAndRailInfrastructureMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" id="csan_IncreasedecreaseThroughContractualAdjustmentsRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreasedecreaseThroughTransfersRightOfUseAssets" id="csan_IncreasedecreaseThroughTransfersRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" id="csan_IncreasedecreaseThroughCurrencyTranslationAdjustmentsRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" id="csan_IncreasedecreaseThroughTransfersFromtoPropertyPlantAndEquipmentAndOtherAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutCommitmentsTable" id="csan_DisclosureOfDetailedInformationAboutCommitmentsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PortElevationMember" id="csan_PortElevationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfDetailedInformationAboutCommitmentsLineItems" id="csan_DisclosureOfDetailedInformationAboutCommitmentsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialCommitmentInEstimatedPresentValue" id="csan_FinancialCommitmentInEstimatedPresentValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ObligationsOfEstimatedInvestmentsForSubConcessionContracts" id="csan_ObligationsOfEstimatedInvestmentsForSubConcessionContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfPhysicalExecution" id="csan_PercentageOfPhysicalExecution" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ContractualFixedTerm" id="csan_ContractualFixedTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="InvestmentsAtCost" id="csan_InvestmentsAtCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfConcessionsPayableAndJudicialDepositsAbstract" id="csan_DisclosureOfConcessionsPayableAndJudicialDepositsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfConcessionsPayableAndJudicialDepositsTable" id="csan_DisclosureOfConcessionsPayableAndJudicialDepositsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CourtDiscussionMember" id="csan_CourtDiscussionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RailroadConcessionPayableUnderLitigationMember" id="csan_RailroadConcessionPayableUnderLitigationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherConcessionsPayableMember" id="csan_OtherConcessionsPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ConcessionsPayableMember" id="csan_ConcessionsPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LeasesAndConcessionsPayableMember" id="csan_LeasesAndConcessionsPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" id="csan_DisclosureOfConcessionsPayableAndJudicialDepositsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ConcessionsPayables" id="csan_ConcessionsPayables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LeasePayable" id="csan_LeasePayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LeasesAndConcessionsPayable" id="csan_LeasesAndConcessionsPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="GainOnReversalOfLeaseLiabilitiesRelatedToOtherIncomeExpenses" id="csan_GainOnReversalOfLeaseLiabilitiesRelatedToOtherIncomeExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult" id="csan_GainOnReversalOfLeaseLiabilitiesRelatedToFinancialResult" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019" id="csan_DescriptionOfLifeAndOtherSignificantTermsOfArrangementInvolvingLegalFormOfLease2019" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="FinancialCommitmentEstimatedPresentValue" id="csan_FinancialCommitmentEstimatedPresentValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfJudicialDepositsAbstract" id="csan_DisclosureOfJudicialDepositsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfJudicialDepositsTable" id="csan_DisclosureOfJudicialDepositsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaPaulistaMember" id="csan_RumoMalhaPaulistaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RumoMalhaOesteMember" id="csan_RumoMalhaOesteMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfJudicialDepositsLineItems" id="csan_DisclosureOfJudicialDepositsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JudicialDeposits" id="csan_JudicialDeposits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="GrantsPayableMember" id="csan_GrantsPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LeasesRelatedToConcessionPayable" id="csan_LeasesRelatedToConcessionPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="GrantsRelatedToConcessionPayable" id="csan_GrantsRelatedToConcessionPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LeasesAndGrantsRelatedToConcessionPayable" id="csan_LeasesAndGrantsRelatedToConcessionPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CurrentLeasesAndGrantsRelatedToConcessionPayable" id="csan_CurrentLeasesAndGrantsRelatedToConcessionPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="NonCurrentLeasesAndGrantsRelatedToConcessionPayable" id="csan_NonCurrentLeasesAndGrantsRelatedToConcessionPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="NumberOfInstallmentsForConcessionAgreement" id="csan_NumberOfInstallmentsForConcessionAgreement" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="InstallmentsAmountFallingDueOfGrantsConcessionPayable" id="csan_InstallmentsAmountFallingDueOfGrantsConcessionPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CostOfGasToBeRecoveredTransferred" id="csan_CostOfGasToBeRecoveredTransferred" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CreditsOfTaxesToBeRecoveredTransferred" id="csan_CreditsOfTaxesToBeRecoveredTransferred" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RegulatoryAssetsLiabilitiesNet" id="csan_RegulatoryAssetsLiabilitiesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" id="csan_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" id="csan_RegulatoryAssetsLiabilitiesTaxDeferralAccountCreditBalancesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" id="csan_IncreaseDecreaseThroughChangesInExtemporaneousCreditRegulatoryDeferralAccountCreditBalances" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughOtherAdjustments" id="csan_IncreaseDecreaseThroughOtherAdjustments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NetCurrentAccountFlowForActualCostOfGasIncurred" id="csan_NetCurrentAccountFlowForActualCostOfGasIncurred" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ClassesOfSectorFinancialAssetLiabilityTable" id="csan_ClassesOfSectorFinancialAssetLiabilityTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ClassesOfSectorFinancialAssetLiabilityAxis" id="csan_ClassesOfSectorFinancialAssetLiabilityAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NetSectorFinancialAssetLiabilityMember" id="csan_NetSectorFinancialAssetLiabilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfSectorFinancialAssetAndLiabilityLineItems" id="csan_DisclosureOfSectorFinancialAssetAndLiabilityLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" id="csan_ReconciliationOfChangesInNetSectorFinancialAssetLiabilityAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SectorFinancialAssetLiability" id="csan_SectorFinancialAssetLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" id="csan_CostOfNaturalGasAndElectricityPurchasedArisingFromRecognitionOfSectorFinancialAssetAndLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" id="csan_CreditsOfTaxesArisingFromRecognitionOfSectorFinancialAssetAndLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" id="csan_BrazilianNationalEconomicAndSocialDevelopmentBankProjectEightMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfCriteriaForClassificationOfFinancialInstruments" id="csan_NumberOfCriteriaForClassificationOfFinancialInstruments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MalhaCentralContractAndMalhaPaulistaContractMember" id="csan_MalhaCentralContractAndMalhaPaulistaContractMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOtherTaxesAbstract" id="csan_DisclosureOfOtherTaxesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOtherTaxesTable" id="csan_DisclosureOfOtherTaxesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="REFISMember" id="csan_REFISMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IcmsStateVatMember" id="csan_IcmsStateVatMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="COFINSMember" id="csan_COFINSMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PISMember" id="csan_PISMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SocialSecurityChargesMember" id="csan_SocialSecurityChargesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="WithholdingIncomeTaxMember" id="csan_WithholdingIncomeTaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="INSSMember" id="csan_INSSMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ISSMember" id="csan_ISSMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IOFMember" id="csan_IOFMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherTaxPayableMember" id="csan_OtherTaxPayableMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOtherTaxesLineItems" id="csan_DisclosureOfOtherTaxesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherTaxPayable" id="csan_OtherTaxPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MaturityPeriodOneMember" id="csan_MaturityPeriodOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodTwoMember" id="csan_MaturityPeriodTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodThreeMember" id="csan_MaturityPeriodThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodFourMember" id="csan_MaturityPeriodFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodFiveMember" id="csan_MaturityPeriodFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodSixMember" id="csan_MaturityPeriodSixMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodSevenMember" id="csan_MaturityPeriodSevenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodEightAndThereafterMember" id="csan_MaturityPeriodEightAndThereafterMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaximumPermittedTaxLossCarryforwardsPercentage" id="csan_MaximumPermittedTaxLossCarryforwardsPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="IncomeTaxAndSocialContribution" id="csan_IncomeTaxAndSocialContribution" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfInterestInEarningsOfInvestees" id="csan_TaxEffectOfInterestInEarningsOfInvestees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfPermanentAndOtherDifferenceTaxRates" id="csan_TaxEffectOfPermanentAndOtherDifferenceTaxRates" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncomeTaxIncentiveAmount" id="csan_IncomeTaxIncentiveAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfSharebasedCompensation" id="csan_TaxEffectOfSharebasedCompensation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfInterestOnEquity" id="csan_TaxEffectOfInterestOnEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfNondeductibleExpenses" id="csan_TaxEffectOfNondeductibleExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfTaxLossesNotRecognized" id="csan_TaxEffectOfTaxLossesNotRecognized" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NominalInterestRate" id="csan_NominalInterestRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxIncomeTaxLossCarryForwards" id="csan_DeferredTaxIncomeTaxLossCarryForwards" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxSocialContributionTaxLossCarryForwards" id="csan_DeferredTaxSocialContributionTaxLossCarryForwards" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="TemporaryDifferencesAbstract" id="csan_TemporaryDifferencesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxAssetsShareBasedPayments" id="csan_DeferredTaxAssetsShareBasedPayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsAllowanceForDoubtfulAccounts" id="csan_DeferredTaxAssetsAllowanceForDoubtfulAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsProfitSharing" id="csan_DeferredTaxAssetsProfitSharing" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetImpairmentOfTaxCredit" id="csan_DeferredTaxAssetImpairmentOfTaxCredit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsInterestOnEquity" id="csan_DeferredTaxAssetsInterestOnEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetProvisionsForEmployeeBenefits" id="csan_DeferredTaxAssetProvisionsForEmployeeBenefits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsImpairmentOfAssets" id="csan_DeferredTaxAssetsImpairmentOfAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetLegalProceedingsProvision" id="csan_DeferredTaxAssetLegalProceedingsProvision" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetMiscellaneousProvisions" id="csan_DeferredTaxAssetMiscellaneousProvisions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" id="csan_DeferredTaxAssetPropertyPlantAndEquipmentUsefulLifeReview" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsForeignCurrencyLosses" id="csan_DeferredTaxAssetsForeignCurrencyLosses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsOtherTemporaryDifferences" id="csan_DeferredTaxAssetsOtherTemporaryDifferences" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsTemporaryDifferencesNet" id="csan_DeferredTaxAssetsTemporaryDifferencesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxAssetsNotRecognised" id="csan_DeferredTaxAssetsNotRecognised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesFairValueOptionInLoans" id="csan_DeferredTaxLiabilitiesFairValueOptionInLoans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesLeaseTransactions" id="csan_DeferredTaxLiabilitiesLeaseTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesTaxDeductibleGoodwill" id="csan_DeferredTaxLiabilitiesTaxDeductibleGoodwill" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesGainOnFormationOfJointVentures" id="csan_DeferredTaxLiabilitiesGainOnFormationOfJointVentures" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesUnrealizedGainsLossesOnDerivativesInstruments" id="csan_DeferredTaxLiabilitiesUnrealizedGainsLossesOnDerivativesInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" id="csan_DeferredTaxLiabilitiesProvisionForRealizationGoodwillRecordedInEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesOtherTemporaryDifferences" id="csan_DeferredTaxLiabilitiesOtherTemporaryDifferences" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesTemporaryDifferences" id="csan_DeferredTaxLiabilitiesTemporaryDifferences" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="TaxLossAndNegativeBasisDeferredTaxAssetsMember" id="csan_TaxLossAndNegativeBasisDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EmployeeBenefitsDeferredTaxAssetsMember" id="csan_EmployeeBenefitsDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProvisionsDeferredTaxAssetsMember" id="csan_ProvisionsDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PostEmploymentObligationsDeferredTaxAssetsMember" id="csan_PostEmploymentObligationsDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PropertyDeferredTaxAssetsMember" id="csan_PropertyDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnregisteredCreditsDeferredTaxAssetsMember" id="csan_UnregisteredCreditsDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherDeferredTaxAssetsMember" id="csan_OtherDeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxAssetsMember" id="csan_DeferredTaxAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" id="csan_EffectsOnTheFormationOfJvSubsidiariesDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IntangibleDeferredTaxLiabilitiesMember" id="csan_IntangibleDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" id="csan_UnrealizedIncomeFromDerivativesDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LeasesDeferredTaxLiabilitiesMember" id="csan_LeasesDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" id="csan_DebtFairValueAdjustmentDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherDeferredTaxLiabilitiesMember" id="csan_OtherDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnregisteredCreditsDeferredTaxLiabilitiesMember" id="csan_UnregisteredCreditsDeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxLiabilitiesMember" id="csan_DeferredTaxLiabilitiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughAdoptionOfNewIfrsStandardDeferredTaxLiabilityAsset" id="csan_IncreaseDecreaseThroughAdoptionOfNewIfrsStandardDeferredTaxLiabilityAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="IncreaseDecreaseThroughDiscontinuedOperationDeferredTaxLiabilityAsset" id="csan_IncreaseDecreaseThroughDiscontinuedOperationDeferredTaxLiabilityAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LegalProceedingsProvisionTaxMember" id="csan_LegalProceedingsProvisionTaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CivilEnvironmentalAndRegulatoryClaimsMember" id="csan_CivilEnvironmentalAndRegulatoryClaimsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LegalProceedingsProvisionLaborMember" id="csan_LegalProceedingsProvisionLaborMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MandatoryJudicialDepositsForLegalProceedings" id="csan_MandatoryJudicialDepositsForLegalProceedings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" id="csan_LegalProceedingsProvisionCivilEnvironmentalAndRegulatoryMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughInterestOtherProvisions" id="csan_IncreaseDecreaseThroughInterestOtherProvisions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" id="csan_IncreaseDecreaseThroughInterestAndExchangeVariationOtherProvisions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CompensationWithFINSOCIALMember" id="csan_CompensationWithFINSOCIALMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InssSocialSecurityContributionsMember" id="csan_InssSocialSecurityContributionsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StateVatIcmsCreditsMember" id="csan_StateVatIcmsCreditsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IpiExciseTaxCreditNtMember" id="csan_IpiExciseTaxCreditNtMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FederalIncomeTaxesMember" id="csan_FederalIncomeTaxesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherClaimsMember" id="csan_OtherClaimsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CivilEnvironmentalAndRegulatoryMember" id="csan_CivilEnvironmentalAndRegulatoryMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NonHomologationOfOffsettingOfTaxCreditMember" id="csan_NonHomologationOfOffsettingOfTaxCreditMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompensationWithFinsocialMember" id="csan_CompensationWithFinsocialMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FederalAndProvincialIncomeTaxRate" id="csan_FederalAndProvincialIncomeTaxRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="IsolatedFineRateOfAcquiredAssets" id="csan_IsolatedFineRateOfAcquiredAssets" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="SocialSecurityPercentage" id="csan_SocialSecurityPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CompensationForMoralDamages" id="csan_CompensationForMoralDamages" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="MandatoryJudicialDepositsForLegalProceeding" id="csan_MandatoryJudicialDepositsForLegalProceeding" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="LegalProceedingsContingentLiabilityTaxMember" id="csan_LegalProceedingsContingentLiabilityTaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CategoriesOfContingentLiabilitiesAxis" id="csan_CategoriesOfContingentLiabilitiesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CategoriesOfContingentLiabilitiesDomain" id="csan_CategoriesOfContingentLiabilitiesDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" id="csan_LegalProceedingsContingentLiabilityCivilRegulatoryAndEnvironmentalMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LitigationCase1Axis" id="csan_LitigationCase1Axis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LitigationCase1Member" id="csan_LitigationCase1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PisAndCofinsRevenueTaxesMember" id="csan_PisAndCofinsRevenueTaxesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IrrfWithholdingTaxMember" id="csan_IrrfWithholdingTaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PenaltiesRelatedToTaxPositionsMember" id="csan_PenaltiesRelatedToTaxPositionsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Mp470TaxInstallmentsMember" id="csan_Mp470TaxInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InssSocialSecurityAndOtherMember" id="csan_InssSocialSecurityAndOtherMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompensationWithIpiIn6798Member" id="csan_CompensationWithIpiIn6798Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GoodwillRumoMember" id="csan_GoodwillRumoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StockOptionClaimsMember" id="csan_StockOptionClaimsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ForeignFinancialOperationMember" id="csan_ForeignFinancialOperationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialTransactionsTaxOnLoanMember" id="csan_FinancialTransactionsTaxOnLoanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CivilMember" id="csan_CivilMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LaborMember" id="csan_LaborMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TaxMember" id="csan_TaxMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RegulatoryMember" id="csan_RegulatoryMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EnvironmentalMember" id="csan_EnvironmentalMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfContingentAssetsTable" id="csan_DisclosureOfContingentAssetsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ClassesOfContingentAssetsAxis" id="csan_ClassesOfContingentAssetsAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ContingentAssetsMember" id="csan_ContingentAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LegalProceedingsContingentAssetsMember" id="csan_LegalProceedingsContingentAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfContingentAssetsLineItems" id="csan_DisclosureOfContingentAssetsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ContingentAssetRecognizedForTaxContingencies" id="csan_ContingentAssetRecognizedForTaxContingencies" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherRecoverableTaxesRecognized" id="csan_OtherRecoverableTaxesRecognized" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherRecoverableTaxesRelatedToOtherIncome" id="csan_OtherRecoverableTaxesRelatedToOtherIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherRecoverableTaxesRelatedToFinancialIncome" id="csan_OtherRecoverableTaxesRelatedToFinancialIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ControlingGroupMember" id="csan_ControlingGroupMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TradingStatusOfStockAxis" id="csan_TradingStatusOfStockAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TradingStatusOfStockDomain" id="csan_TradingStatusOfStockDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FreeFloatMember" id="csan_FreeFloatMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfSharesOutstanding" id="csan_PercentageOfSharesOutstanding" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfTreasuryShares" id="csan_PercentageOfTreasuryShares" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfSharesIssued" id="csan_PercentageOfSharesIssued" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="TreasurySharesShares" id="csan_TreasurySharesShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PlanName1Axis" id="csan_PlanName1Axis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PlanName1Domain" id="csan_PlanName1Domain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" id="csan_NumberOfSharesIssuedDuringPeriodForShareBasedCompensationPlans" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" id="csan_NumberOfSharesIssuedDuringPeriodForOtherThanShareBasedCompensationPlans" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MarketValuePricePerShare" id="csan_MarketValuePricePerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="NumberOfSharesRepurchased" id="csan_NumberOfSharesRepurchased" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfOwnSharesRepurchased" id="csan_PercentageOfOwnSharesRepurchased" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesCancelled" id="csan_NumberOfSharesCancelled" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" id="csan_AccumulatedOtherComprehensiveIncomeGainLossOnCashFlowHedgeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" id="csan_AccumulatedOtherComprehensiveLossCumulativeTranslationAdjustmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveLossActuarialGainLossMember" id="csan_AccumulatedOtherComprehensiveLossActuarialGainLossMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" id="csan_AccumulatedOtherComprehensiveIncomeLossFinancialInstrumentsWithSubsidiariesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" id="csan_AccumulatedOtherComprehensiveLossChangesInFairValueOfFinancialAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" id="csan_AccumulatedOtherComprehensiveIncomeIncludingNoncontrollingInterestsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AociAttributableToNoncontrollingInterest1Member" id="csan_AociAttributableToNoncontrollingInterest1Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveGainOnCashFlowHedgeInJointVenturesMember" id="csan_AccumulatedOtherComprehensiveGainOnCashFlowHedgeInJointVenturesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedOtherComprehensiveLossGainOnCashFlowHedgeInJointVenturesAndmemberMember" id="csan_AccumulatedOtherComprehensiveLossGainOnCashFlowHedgeInJointVenturesAndmemberMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" id="csan_DilutiveEffectOfShareOptionsAndSharePlansOnNumberOfOrdinaryShares" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" id="csan_RevenueArisingFromExchangesOfGoodsOrServicesSaleOfGoods1" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IndirectTaxesAndDeductions" id="csan_IndirectTaxesAndDeductions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LubricantsAndBasicOilMember" id="csan_LubricantsAndBasicOilMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherProductsMember" id="csan_OtherProductsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TransportationMember" id="csan_TransportationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherServicesMember" id="csan_OtherServicesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EliminationsAndReconcilingItemsMember" id="csan_EliminationsAndReconcilingItemsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfExpenseByNatureAbstract" id="csan_DisclosureOfExpenseByNatureAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommodityCost" id="csan_CommodityCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RailroadTransportationAndPortElevationExpenses" id="csan_RailroadTransportationAndPortElevationExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CostOfElectricalEnergyPurchasedForResale" id="csan_CostOfElectricalEnergyPurchasedForResale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ConstructionCost" id="csan_ConstructionCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NaturalGasTransportationCost" id="csan_NaturalGasTransportationCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SellingExpense1" id="csan_SellingExpense1" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="GeneralAndAdministrativeExpense2" id="csan_GeneralAndAdministrativeExpense2" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OperatingExpensesIncludingCostOfSales" id="csan_OperatingExpensesIncludingCostOfSales" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxCredits" id="csan_TaxCredits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" id="csan_GainsLossesOnDisposalsOfNoncurrentAssetsAndIntangibles" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ReimbursementOfGasLossesInProcess" id="csan_ReimbursementOfGasLossesInProcess" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="GainLossOnCompensationClaims" id="csan_GainLossOnCompensationClaims" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NetEffectOfLegalProceedings" id="csan_NetEffectOfLegalProceedings" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CreditSalesToThirdParties" id="csan_CreditSalesToThirdParties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherExpenseIncome" id="csan_OtherExpenseIncome" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OtherOperatingIncomeAndExpenseNetTable" id="csan_OtherOperatingIncomeAndExpenseNetTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IndemnificationsMember" id="csan_IndemnificationsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherOperatingIncomeAndExpenseNetLineItems" id="csan_OtherOperatingIncomeAndExpenseNetLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RecognizedGainLossOnAssignmentOfCreditRights" id="csan_RecognizedGainLossOnAssignmentOfCreditRights" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AdditionalPaymentPercentageOfCreditRights" id="csan_AdditionalPaymentPercentageOfCreditRights" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="FinancialResultsAbstract" id="csan_FinancialResultsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" id="csan_InterestIncomeOnDerivativesAtFairValueThroughProfitOrLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AmortizationOfBorrowingCost" id="csan_AmortizationOfBorrowingCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="FinanceAndWarrantiesOnDebt" id="csan_FinanceAndWarrantiesOnDebt" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CostOfDebtGross" id="csan_CostOfDebtGross" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="CostOfDebtNet" id="csan_CostOfDebtNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="InterestOnOtherReceivables" id="csan_InterestOnOtherReceivables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="InterestExpenseOnOtherPayables" id="csan_InterestExpenseOnOtherPayables" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" id="csan_OtherChargesAndMonetaryVariationsOfInterestOnLeasesPayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdvancesOnRealEstateCredits" id="csan_AdvancesOnRealEstateCredits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="InterestExpenseOnShareholdersEquity" id="csan_InterestExpenseOnShareholdersEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="InterestExpenseOnContingenciesAndContracts" id="csan_InterestExpenseOnContingenciesAndContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="OtherForeignExchangeNet" id="csan_OtherForeignExchangeNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherChargesAndMonetaryVariationsNet" id="csan_OtherChargesAndMonetaryVariationsNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ExchangeVariation" id="csan_ExchangeVariation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ExchangeVariationAndNonDebtDerivatives" id="csan_ExchangeVariationAndNonDebtDerivatives" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="MonetaryVariationOnLeases" id="csan_MonetaryVariationOnLeases" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="InterestExpensesOnOtherFinancialLiabilities" id="csan_InterestExpensesOnOtherFinancialLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" id="csan_IncomeFromFinancialInvestmentAndExchangeRateInCashAndCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="MonetaryVariationOnLeasesAndConcessionsAgreements" id="csan_MonetaryVariationOnLeasesAndConcessionsAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="FuturaTwoPensionPlanMember" id="csan_FuturaTwoPensionPlanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FuturaPensionPlanMember" id="csan_FuturaPensionPlanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ComgasPensionPlanMember" id="csan_ComgasPensionPlanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DefinedContributionMember" id="csan_DefinedContributionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DefinedBenefitMember" id="csan_DefinedBenefitMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CLEMember" id="csan_CLEMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DefinedBenefitObligationMember" id="csan_DefinedBenefitObligationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" id="csan_ExpectedDurationOfContributionToSocialSecurityForEntitledToDefinedBenefitPlan" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ExpectedServiceDurationForEntitledToDefinedBenefitPlan" id="csan_ExpectedServiceDurationForEntitledToDefinedBenefitPlan" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="GainLossOnAssetsGreaterThanDiscountRateToPlanNetDefinedBenefitLiabilityAsset" id="csan_GainLossOnAssetsGreaterThanDiscountRateToPlanNetDefinedBenefitLiabilityAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NetDefinedBenefitLiability" id="csan_NetDefinedBenefitLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" id="csan_ExpenseIncomeRecognizedNetDefinedBenefitLiabilityAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedLiabilityAssetOfDefinedBenefitPlans" id="csan_AccumulatedLiabilityAssetOfDefinedBenefitPlans" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="FixedIncomeBondsMember" id="csan_FixedIncomeBondsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="VariableIncomeSecuritiesMember" id="csan_VariableIncomeSecuritiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherSecuritiesMember" id="csan_OtherSecuritiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfFairValueOfPlanAssets" id="csan_PercentageOfFairValueOfPlanAssets" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="AugustEighteenTwoThousandElevenTwoMember" id="csan_AugustEighteenTwoThousandElevenTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AugustThirtyOneTwoThousandFifteenMember" id="csan_AugustThirtyOneTwoThousandFifteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StockOptionProgramsMember" id="csan_StockOptionProgramsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProgramNameAxis" id="csan_ProgramNameAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProgramNameDomain" id="csan_ProgramNameDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReplacementOfStockOptionPlan" id="csan_ReplacementOfStockOptionPlan" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ComgasAndCompassGasEEnergiaSAMember" id="csan_ComgasAndCompassGasEEnergiaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StockGrantProgramsMember" id="csan_StockGrantProgramsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="StockGrantModificationMember" id="csan_StockGrantModificationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashSettledTransactionsMember" id="csan_CashSettledTransactionsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardDatesAxis" id="csan_AwardDatesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardDatesDomain" id="csan_AwardDatesDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AprilTwentySevenTwoThousandSeventeenMember" id="csan_AprilTwentySevenTwoThousandSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JulyThirtyOneTwoThousandSeventeenMember" id="csan_JulyThirtyOneTwoThousandSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JulyThirtyOneTwoThousandEighteenMember" id="csan_JulyThirtyOneTwoThousandEighteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JulyThirtyOneTwoThousandNineteenMember" id="csan_JulyThirtyOneTwoThousandNineteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="July31St2020Member" id="csan_July31St2020Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AprilTwentyTwoThousandSeventeenMember" id="csan_AprilTwentyTwoThousandSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AugustTwelveTwoThousandSeventeenMember" id="csan_AugustTwelveTwoThousandSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AugustOneTwoThousandEighteenMember" id="csan_AugustOneTwoThousandEighteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="February01St2020Member" id="csan_February01St2020Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JanuaryTwoTwoThousandSeventeenMember" id="csan_JanuaryTwoTwoThousandSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeptemberOneTwoThousandSeventeenMember" id="csan_SeptemberOneTwoThousandSeventeenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AugustFifteenTwoThousandNineteenMember" id="csan_AugustFifteenTwoThousandNineteenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfShareOptionsExercisedCanceledTransferred" id="csan_NumberOfShareOptionsExercisedCanceledTransferred" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AugusteighteentwothousandeleventwoMember" id="csan_AugusteighteentwothousandeleventwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MemberTypeAxis" id="csan_MemberTypeAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MemberTypeMember" id="csan_MemberTypeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NewMembersMember" id="csan_NewMembersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExistingMembersMember" id="csan_ExistingMembersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesSettledInStockOptionPlan" id="csan_NumberOfSharesSettledInStockOptionPlan" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ValueOfSharesSettledInStockOptionPlan" id="csan_ValueOfSharesSettledInStockOptionPlan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesDeliveredInStockOptionPlan" id="csan_NumberOfSharesDeliveredInStockOptionPlan" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ValueOfSharesDeliveredInStockOptionPlan" id="csan_ValueOfSharesDeliveredInStockOptionPlan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CompassGasEEnergiaMember" id="csan_CompassGasEEnergiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" id="csan_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="NumberOfSharesGrantedInReplacementOfExistingOptionPlan" id="csan_NumberOfSharesGrantedInReplacementOfExistingOptionPlan" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="IncrementalCostInReplacementOfExistingOptionPlan" id="csan_IncrementalCostInReplacementOfExistingOptionPlan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncrementalCostRecognizedInReplacementOfExistingOptionPlan" id="csan_IncrementalCostRecognizedInReplacementOfExistingOptionPlan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" id="csan_IncrementalCostToBeRecognizedInReplacementOfExistingOptionPlan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" id="csan_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanBiomassaSaMember" id="csan_CosanBiomassaSaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" id="csan_DisclosureOfStatementOfIncomeOfDiscontinuedOperationsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnsecuredLiabilityRecognisedAsOfAcquisitionDate" id="csan_UnsecuredLiabilityRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="BusinessAcquisitionRelatedExpense" id="csan_BusinessAcquisitionRelatedExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="RaizenGroupMember" id="csan_RaizenGroupMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BiosevSAMember" id="csan_BiosevSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ContingentAssetRecognizedForServiceConcessionArrangement" id="csan_ContingentAssetRecognizedForServiceConcessionArrangement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="StockSplitConversionRatio" id="csan_StockSplitConversionRatio" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" id="csan_AssumptionsUsedInDiscountedCashFlowProjectionsPeriodOfLongTermGrowth" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" id="csan_PeriodOfTariffCyclesForNaturalGasSalesWithAnnualInflationAdjustment" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfAverageMeasurementMultiples" id="csan_DescriptionOfAverageMeasurementMultiples" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="LeaseTerm" id="csan_LeaseTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ActuarialAssumptionOfAgingFactor" id="csan_ActuarialAssumptionOfAgingFactor" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MonetaryVariationOfOtherFinancialAssets" id="csan_MonetaryVariationOfOtherFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="SharePurchaseAgreementMember" id="csan_SharePurchaseAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RailwayConcessionPayableUnderLitigationMember" id="csan_RailwayConcessionPayableUnderLitigationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Debentures1StIssueMember" id="csan_Debentures1StIssueMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebenturesNinthIssueFirstSeriesMember" id="csan_DebenturesNinthIssueFirstSeriesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebenturesNinthIssueSecondSeriesMember" id="csan_DebenturesNinthIssueSecondSeriesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorSwapsNotesDue2028Member" id="csan_SeniorSwapsNotesDue2028Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorSwapsNotesDue2032Member" id="csan_SeniorSwapsNotesDue2032Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="VioletaFundoDeInvestimentoMultimercadoMember" id="csan_VioletaFundoDeInvestimentoMultimercadoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompassComercializacaoSAMember" id="csan_CompassComercializacaoSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TerminalDeRegaseificacaoDeSaoPauloTRSPMember" id="csan_TerminalDeRegaseificacaoDeSaoPauloTRSPMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Rota4ParticipacoesSAMember" id="csan_Rota4ParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EdgeIIEmpresaDeGeracaoDeEnergiaMember" id="csan_EdgeIIEmpresaDeGeracaoDeEnergiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NovaAgricolaPonteAltaSAMember" id="csan_NovaAgricolaPonteAltaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NovaAmaralinaSAPropriedadesAgricolasMember" id="csan_NovaAmaralinaSAPropriedadesAgricolasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NovaSantaBarbaraAgricolaSAMember" id="csan_NovaSantaBarbaraAgricolaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TerrasDaPontaAltaSAMember" id="csan_TerrasDaPontaAltaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CastanheiraPropriedadesAgricolasSAMember" id="csan_CastanheiraPropriedadesAgricolasSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ManacaPropriedadesAgricolasSAMember" id="csan_ManacaPropriedadesAgricolasSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PaineiraPropriedadesAgricolasSAMember" id="csan_PaineiraPropriedadesAgricolasSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="VerdePinhoFundoDeInvestimentoEmParticipacoesMember" id="csan_VerdePinhoFundoDeInvestimentoEmParticipacoesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RaizenMember" id="csan_RaizenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanInvestimentosMember" id="csan_CosanInvestimentosMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GasolineMember" id="csan_GasolineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LandLeasesMember" id="csan_LandLeasesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="WeightedRemunerationBasisPointsPerAnnum" id="csan_WeightedRemunerationBasisPointsPerAnnum" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="WeightedRemunerationPercentagePerAnnum" id="csan_WeightedRemunerationPercentagePerAnnum" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ESGFundMember" id="csan_ESGFundMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" id="csan_ChangeInAllowanceForDoubtfulAccountsDueToForeignExchangeVariation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RumoSASharesMember" id="csan_RumoSASharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanLogisticaSASharesMember" id="csan_CosanLogisticaSASharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TellusEJanusSharesMember" id="csan_TellusEJanusSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" id="csan_PercentageOfPreferredSharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" id="csan_PercentageOfProposedDividendCompanyAndOtherShareholdersEntitledToReceive" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfCostOfGasClassifiedInCurrentAssets" id="csan_PercentageOfCostOfGasClassifiedInCurrentAssets" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="DerivativeFinancialInstrumentsSharesUnderDerivativeContract" id="csan_DerivativeFinancialInstrumentsSharesUnderDerivativeContract" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="MonthlyQuantityOfNaturalGasContracted" id="csan_MonthlyQuantityOfNaturalGasContracted" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AnnualQuantityOfNaturalGasContracted" id="csan_AnnualQuantityOfNaturalGasContracted" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="NumberOfPriceInstallments" id="csan_NumberOfPriceInstallments" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DailyQuantityOfNaturalGasContracted" id="csan_DailyQuantityOfNaturalGasContracted" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="January2020ToDecember2023Member" id="csan_January2020ToDecember2023Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="June1999ToDecember2021Member" id="csan_June1999ToDecember2021Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UntilMarch2023Member" id="csan_UntilMarch2023Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="April2008ToMarch2022Member" id="csan_April2008ToMarch2022Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="January2022ToDecember2023Member" id="csan_January2022ToDecember2023Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" id="csan_PeriodBeforeEndOfConsessionPeriodWithinWhichMemorandumAccountBalancesToBeIndemnifyToSubsidiaryOrReturnedToUsers" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" id="csan_ReceivablesFromTaxesOtherThanIncomeTaxPrincipalAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" id="csan_ReceivablesFromTaxesOtherThanIncomeTaxMonetaryRestatement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="OtherProvisionsPrincipalAmount" id="csan_OtherProvisionsPrincipalAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="OtherProvisionsMonetaryRestatment" id="csan_OtherProvisionsMonetaryRestatment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="RhallTerminaisLtdaMember" id="csan_RhallTerminaisLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TermagTerminalMaritimoDeGuarujaSAMember" id="csan_TermagTerminalMaritimoDeGuarujaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TGGTerminalDeGraneisDoGuarujaSAMember" id="csan_TGGTerminalDeGraneisDoGuarujaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="TerminalXXXIXSAMember" id="csan_TerminalXXXIXSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" id="csan_IncreaseDecreaseInNoncontrollingInterestPredecessorAdjustments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="RadarMember" id="csan_RadarMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ICMSBenefitExtemporaneousTaxCredits" id="csan_ICMSBenefitExtemporaneousTaxCredits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ICMSBenefitCurrentPeriod" id="csan_ICMSBenefitCurrentPeriod" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" id="csan_TaxEffectOfAmortizationOfEffectsOnFormationOfJointVentures" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" id="csan_IsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" id="csan_AdditionalIsolatedFinePercentageDueToInsufficientPaymentOfAdvancesOfIRPJAndCSLL" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CapitalGainMember" id="csan_CapitalGainMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IOFOnMutualMember" id="csan_IOFOnMutualMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BoardOfDirectorsAndExecutiveOfficersMember" id="csan_BoardOfDirectorsAndExecutiveOfficersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BasisOfPresentationTable" id="csan_BasisOfPresentationTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AmountOfSharesRepurchased" id="csan_AmountOfSharesRepurchased" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AmountOfSharesIssuedUnderShareBasedCriteriaPlan" id="csan_AmountOfSharesIssuedUnderShareBasedCriteriaPlan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AmountOfCashReceivedFromExecutives" id="csan_AmountOfCashReceivedFromExecutives" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="GainGeneratedOnCashReceivedFromExecutives" id="csan_GainGeneratedOnCashReceivedFromExecutives" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DividendPayoutPercentage" id="csan_DividendPayoutPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="OtherTransportExpenses" id="csan_OtherTransportExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ExpensesWithThirdPartyServices" id="csan_ExpensesWithThirdPartyServices" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ActuarialAssumptionOfMortality" id="csan_ActuarialAssumptionOfMortality" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ActuarialAssumptionOfDisableMortalityRates" id="csan_ActuarialAssumptionOfDisableMortalityRates" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ActuarialAssumptionOfEntryIntoDisability" id="csan_ActuarialAssumptionOfEntryIntoDisability" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ActuarialAssumptionOfTurnover" id="csan_ActuarialAssumptionOfTurnover" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="TRSPMember" id="csan_TRSPMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompasComercializacaoMember" id="csan_CompasComercializacaoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" id="csan_MooveCompassGasEEnergiaCompassComercializacaoTRSPAndComgasMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" id="csan_IncreaseDecreaseInInvestmentInAssociatesDueToBusinessCombination" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="BasisOfPresentationLineItems" id="csan_BasisOfPresentationLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FinancialAssetsAndApplicableTaxesDerecognisedDueToCorporateReorganization" id="csan_FinancialAssetsAndApplicableTaxesDerecognisedDueToCorporateReorganization" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="InvestmentInSubsidiaryRecognizedDueToCorporateReorganization" id="csan_InvestmentInSubsidiaryRecognizedDueToCorporateReorganization" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AmountRecognizedInCapitalReserveDueToCorporateReorganization" id="csan_AmountRecognizedInCapitalReserveDueToCorporateReorganization" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="BasisOfAccountingAbstract" id="csan_BasisOfAccountingAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RioMinasMineracaoSAMember" id="csan_RioMinasMineracaoSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashGeneratingUnitMooveMember" id="csan_CashGeneratingUnitMooveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashGeneratingUnitCompassMember" id="csan_CashGeneratingUnitCompassMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashGeneratingUnitLogisticaMember" id="csan_CashGeneratingUnitLogisticaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashGeneratingUnitCosanOtherBusinessMember" id="csan_CashGeneratingUnitCosanOtherBusinessMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AnnualImpairmentTestAssumptionsAbstract" id="csan_AnnualImpairmentTestAssumptionsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" id="csan_AnnualImpairmentTestAssumptionsRiskFreeFeeTNote10YearsPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AnnualImpairmentTestAssumptionsInflationPercentage" id="csan_AnnualImpairmentTestAssumptionsInflationPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" id="csan_AnnualImpairmentTestAssumptionsCountryRiskPremiumPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" id="csan_AnnualImpairmentTestAssumptionsMarketRiskPremiumPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AnnualImpairmentTestAssumptionsTaxRatePercentage" id="csan_AnnualImpairmentTestAssumptionsTaxRatePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MaximumPeriodForGasCostAdjustment" id="csan_MaximumPeriodForGasCostAdjustment" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PetrobrasGasSAGaspetroMember" id="csan_PetrobrasGasSAGaspetroMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughPropertyTransferTaxProvision" id="csan_IncreaseDecreaseThroughPropertyTransferTaxProvision" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="SignificantUnobservableInputPercentage" id="csan_SignificantUnobservableInputPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfInterestInShareCapitalProposedToBeSold" id="csan_PercentageOfInterestInShareCapitalProposedToBeSold" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ShellBrandsInternationalAGMember" id="csan_ShellBrandsInternationalAGMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RaizenSAMember" id="csan_RaizenSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MinimumPeriodOfLicenseAgreementToUseBrandName" id="csan_MinimumPeriodOfLicenseAgreementToUseBrandName" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisposalsOfRightOfUseAssets" id="csan_DisposalsOfRightOfUseAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" id="csan_AtmosIliquidos1FundoDeInvestimentoEmAcoesAtmosMasterFundoDeInvestimentoEmAcoesManzatInversionesAuuSAAndRicardoErnestoCorreaDaSilvaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfPreferredSharesAgreedToBeSubscribed" id="csan_NumberOfPreferredSharesAgreedToBeSubscribed" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" id="csan_PreferredSharesAgreedToBeSubscribedAsPercentageOfCapitalStock" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" id="csan_ContributionOfEntityInSubscriptionOfPreferredStockByCounterparty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" id="csan_BradescoVidaEPrevidenciaSABCGestaoDeRecursosLtdaPrismaCapitalLtdaAndNucleusCapitalLtdaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PreferredSharesAgreedToBeSubscribed" id="csan_PreferredSharesAgreedToBeSubscribed" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="BradescoVidaEPrevidenciaSAMember" id="csan_BradescoVidaEPrevidenciaSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SharesIssuedAsPercentageOfCapitalStock" id="csan_SharesIssuedAsPercentageOfCapitalStock" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PreferenceSharesClassBMember" id="csan_PreferenceSharesClassBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IssuePricePerShare" id="csan_IssuePricePerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="NumberOfSharesNotContributedInCapitalIncrease" id="csan_NumberOfSharesNotContributedInCapitalIncrease" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ShareholdingPercentage" id="csan_ShareholdingPercentage" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" id="csan_AmountRaisedInInitialPublicOfferingNetOfIssuanceCost" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NominalLicensedRegasificationCapacity" id="csan_NominalLicensedRegasificationCapacity" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="StorageOfLiquefiedNaturalGas" id="csan_StorageOfLiquefiedNaturalGas" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="EstimatedTimeForConstruction" id="csan_EstimatedTimeForConstruction" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="HederaInvestimentosEParticipacoesSAMember" id="csan_HederaInvestimentosEParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SubscriptionBonusExercised" id="csan_SubscriptionBonusExercised" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="MarketValueAdjustmentToSubscriptionBonus" id="csan_MarketValueAdjustmentToSubscriptionBonus" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SubscriptionBonusNetOfMarketValueAdjustment" id="csan_SubscriptionBonusNetOfMarketValueAdjustment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="PreferredSharesIssuedAsPercentageOfCapitalStock" id="csan_PreferredSharesIssuedAsPercentageOfCapitalStock" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="CostOfBusinessCombination" id="csan_CostOfBusinessCombination" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="MinorityInterestAcquiredInBusinessCombination" id="csan_MinorityInterestAcquiredInBusinessCombination" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfRemainingVotingEquityInterestsAcquired" id="csan_PercentageOfRemainingVotingEquityInterestsAcquired" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="AmountPaidForAcquiringRemainingSharesInBusinessCombination" id="csan_AmountPaidForAcquiringRemainingSharesInBusinessCombination" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" id="csan_VerdePinhoFundoDeInvestimentoEmParticipacoesMultiestrategiaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfShareCapitalContributed" id="csan_PercentageOfShareCapitalContributed" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="AmountOfShareCapitalContributed" id="csan_AmountOfShareCapitalContributed" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CosanInvestimentosEParticipacoesSAMember" id="csan_CosanInvestimentosEParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" id="csan_AnticipatedPaymentOfObligationsWithNoncontrollingPreferredShareholders" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesAcquired" id="csan_NumberOfSharesAcquired" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="LengthOfDistributionNetworkCoverage" id="csan_LengthOfDistributionNetworkCoverage" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfCustomersServed" id="csan_NumberOfCustomersServed" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfMunicipalitiesServed" id="csan_NumberOfMunicipalitiesServed" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DistributedVolumeOfNaturalGas" id="csan_DistributedVolumeOfNaturalGas" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfMinorityInterestRecognisedOnAcquisition" id="csan_PercentageOfMinorityInterestRecognisedOnAcquisition" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="CompassUmParticipacoesSAMember" id="csan_CompassUmParticipacoesSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" id="csan_CompanhiaDeGasDoEstadoDoRioGrandeDoSulMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BeforeReorganizationMember" id="csan_BeforeReorganizationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReorganizationMember" id="csan_ReorganizationMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" id="csan_IncreaseDecreaseInInvestmentsInJointVenturesDueToCorporateReorganization" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" id="csan_DisclosureOfGainsAndLossesRecognizedInIncomeUnderInvestmentInJointVenturesExplanatory" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BiosevMember" id="csan_BiosevMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ReductionOnPreviouslyHeldInterest" id="csan_ReductionOnPreviouslyHeldInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SubscribedCashInterestAtIPO" id="csan_SubscribedCashInterestAtIPO" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ExerciseOfSubscriptionBonus" id="csan_ExerciseOfSubscriptionBonus" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherComprehensiveIncomeReclassification" id="csan_OtherComprehensiveIncomeReclassification" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="GainOnDilution" id="csan_GainOnDilution" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="LegalProceedingsContingentLiabilityLaborMember" id="csan_LegalProceedingsContingentLiabilityLaborMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PredecessorAdjustmentsMember" id="csan_PredecessorAdjustmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NonCurrentSectorFinancialAssets" id="csan_NonCurrentSectorFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="LongtermDepositsNotClassifiedAsCashEquivalents" id="csan_LongtermDepositsNotClassifiedAsCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="EarningsLossPerShareFromContinuingOperationsAbstract" id="csan_EarningsLossPerShareFromContinuingOperationsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForLossGainOnEnergyDerivativeOperations" id="csan_AdjustmentsForLossGainOnEnergyDerivativeOperations" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForGainOnBargainPurchase" id="csan_AdjustmentsForGainOnBargainPurchase" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" id="csan_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" id="csan_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" id="csan_FinesAndPenaltiesRateOnTaxOnCirculationOfGoodsAndServicesAmount" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" id="csan_PercentageOfCreditConsideredUndueIncludedTaxOnCirculationOfGoodsAndServices" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" id="csan_ScheduleOfMaturityAnalysisOfDeferredTaxAssetsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxAssetsLeaseTransactions" id="csan_DeferredTaxAssetsLeaseTransactions" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" id="csan_DeferredTaxLiabilitiesFairValueAmortizationOfPropertyPlantAndEquipment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesInvestmentProperties" id="csan_DeferredTaxLiabilitiesInvestmentProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesMarketableSecurities" id="csan_DeferredTaxLiabilitiesMarketableSecurities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" id="csan_DeferredTaxLiabilitiesPropertyPlantAndEquipmentUsefulLifeReview" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" id="csan_DeferredTaxLiabilitiesFairValueAmortizationOfIntangibleAsset" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LaterThanFiveYearsAndNotLaterThanEightYearsMember" id="csan_LaterThanFiveYearsAndNotLaterThanEightYearsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LaterThanEightYearsAndNotLaterThanTenYearsMember" id="csan_LaterThanEightYearsAndNotLaterThanTenYearsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ICMSBenefitExtemporaneousTaxCreditsInterest" id="csan_ICMSBenefitExtemporaneousTaxCreditsInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" id="csan_ICMSBenefitExtemporaneousTaxCreditsIncludedInterest" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="TaxBaseOfICMS" id="csan_TaxBaseOfICMS" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" id="csan_DeferredTaxRelatingToAmortizationSurplusValueToChargedOrCreditedDirectlyToEquity" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AdvanceFromCustomersRecognisedAsOfAcquisitionDate" id="csan_AdvanceFromCustomersRecognisedAsOfAcquisitionDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="DescriptionOfNatureOfGoodwillMeasurement" id="csan_DescriptionOfNatureOfGoodwillMeasurement" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfValuationTechniquesAndKeyModelInputsUsedToMeasureGoodwill" id="csan_DescriptionOfValuationTechniquesAndKeyModelInputsUsedToMeasureGoodwill" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfUsefulLifeOfGoodwill" id="csan_DescriptionOfUsefulLifeOfGoodwill" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AcquisitionsThroughBusinessCombinationsLeaseLiabilities" id="csan_AcquisitionsThroughBusinessCombinationsLeaseLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfLeasesTable" id="csan_DisclosureOfLeasesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PresentValueOfExpectedInstallmentsMember" id="csan_PresentValueOfExpectedInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProjectedFutureInflationOfInstallmentsMember" id="csan_ProjectedFutureInflationOfInstallmentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfLeasesLineItems" id="csan_DisclosureOfLeasesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" id="csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsLeaseLiabilities" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsResidualRightOfUse" id="csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsResidualRightOfUse" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense" id="csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsFinancialExpense" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" id="csan_PercentageOfChangesInPresentValueToProjectedFutureInflationOfInstallmentsDepreciationExpense" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfLeasesCostTableTextBlock" id="csan_ScheduleOfLeasesCostTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" id="csan_ScheduleOfFairValueOptionOfFinancialInstrumentsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" id="csan_ScheduleOfProjectionOfSettlementOfPositionsAtNominalValueOfEnergyTradingOperationsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfOtherFinancialAssetsTableTextBlock" id="csan_ScheduleOfOtherFinancialAssetsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="Eib3RdTrancheMember" id="csan_Eib3RdTrancheMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Eib4ThTrancheMember" id="csan_Eib4ThTrancheMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Resolution41312018Member" id="csan_Resolution41312018Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Resolution41312020Member" id="csan_Resolution41312020Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="Resolution41312021Member" id="csan_Resolution41312021Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebentureOneMember" id="csan_DebentureOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebentureTwoMember" id="csan_DebentureTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SeniorSwapNotesDue2027Member" id="csan_SeniorSwapNotesDue2027Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InflationAndInterestRateSwapsOneMember" id="csan_InflationAndInterestRateSwapsOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InflationAndInterestRateSwapsTwoMember" id="csan_InflationAndInterestRateSwapsTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ForexAndInterestSwapOneMember" id="csan_ForexAndInterestSwapOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ForexAndInterestSwapTwoMember" id="csan_ForexAndInterestSwapTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LaterThanFourYearsMember" id="csan_LaterThanFourYearsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodOfShortTermInvestmentsClassifiedAsCashAndCashEquivalents" id="csan_MaturityPeriodOfShortTermInvestmentsClassifiedAsCashAndCashEquivalents" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PeriodOfFixedTermOfRepurchaseAgreements" id="csan_PeriodOfFixedTermOfRepurchaseAgreements" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PenaltiesForEarlyRedemptionOfRepurchaseAgreements" id="csan_PenaltiesForEarlyRedemptionOfRepurchaseAgreements" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" id="csan_MaturityPeriodOfBankDepositCertificatesClassifiedAsCashAndCashEquivalents" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" id="csan_MaturityPeriodOfGovernmentBondsMarketableSecuritiesAndRestrictedCash" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PeriodOfLeaseTermOfShortTermLeases" id="csan_PeriodOfLeaseTermOfShortTermLeases" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" id="csan_TaxCreditOnImportOfGoodsOrServicesIncludedInLeaseLiabilities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" id="csan_TargetPercentageOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" id="csan_DescriptionOfEstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" id="csan_EstimatedInterestRateIncreaseForNonComplianceForFulfilmentOfEnvironmentGoals" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfPriceComponentsInNaturalGasSupplyContracts" id="csan_NumberOfPriceComponentsInNaturalGasSupplyContracts" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="ScenarioOneMember" id="csan_ScenarioOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ScenarioTwoMember" id="csan_ScenarioTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PurchaseCommitments" id="csan_PurchaseCommitments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="MaximumPercentageOfDebtInstrumentNotProtected" id="csan_MaximumPercentageOfDebtInstrumentNotProtected" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" id="csan_PercentageOfReasonablyPossibleIncreaseDecreaseInAssociatedRiskVariables" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" id="csan_NumberOfCategoriesOfCustomersInCreditRiskOfLeaseReceivables" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ApprovalAmountOfIncreaseInShareCapital" id="csan_ApprovalAmountOfIncreaseInShareCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="ConsiderationToBePaidUntilOneYearAfterClosingDate" id="csan_ConsiderationToBePaidUntilOneYearAfterClosingDate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="SubscriptionOfShareCapitalOfSubsidiary" id="csan_SubscriptionOfShareCapitalOfSubsidiary" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="NstechSAMember" id="csan_NstechSAMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExtraordinaryShareholdersMeetingMember" id="csan_ExtraordinaryShareholdersMeetingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" id="csan_RateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" id="csan_TargetRateOfGreenhouseGasEmissionsReductionPerTonOfUsefulKilometer" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" id="csan_ThresholdPercentageLimitOfCapitalForLegalReserveToBeMaintained" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfReserveAllocationFromNetIncome" id="csan_PercentageOfReserveAllocationFromNetIncome" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ConcessionAmountPerShare" id="csan_ConcessionAmountPerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" id="csan_PercentageOfLongTermIncentiveProgramWhichIsEquivalentToRestrictedShares" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfAchievementToCalculateFairValue" id="csan_PercentageOfAchievementToCalculateFairValue" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="PercentageOfAchievementOfSpecificMetrics" id="csan_PercentageOfAchievementOfSpecificMetrics" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="VestingConditionsAbstract" id="csan_VestingConditionsAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RestrictedStocksMember" id="csan_RestrictedStocksMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PerformanceStocksMember" id="csan_PerformanceStocksMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherThanSpecialProgram2021Member" id="csan_OtherThanSpecialProgram2021Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SpecialProgram2021Member" id="csan_SpecialProgram2021Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentProgramThreeMember" id="csan_InvestmentProgramThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentProgramTwoMember" id="csan_InvestmentProgramTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="InvestmentProgramOneMember" id="csan_InvestmentProgramOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PeriodOfContinuedEmploymentUnderServiceConditions" id="csan_PeriodOfContinuedEmploymentUnderServiceConditions" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="VestingPeriodShareOptionsGranted" id="csan_VestingPeriodShareOptionsGranted" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PhantomStocksMember" id="csan_PhantomStocksMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardTypesDomain" id="csan_AwardTypesDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardTypesAxis" id="csan_AwardTypesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" id="csan_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShare" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfCategoriesOfPotentialDilutiveEffects" id="csan_NumberOfCategoriesOfPotentialDilutiveEffects" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" id="csan_IncreaseDecreaseThroughOtherRevenueSectorFinancialAssetLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" id="csan_IncreaseDecreaseThroughInterestIncomeExpensesSectorFinancialAssetLiability" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseThroughPredecessorAdjustments" id="csan_IncreaseDecreaseThroughPredecessorAdjustments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CommonSharesMember" id="csan_CommonSharesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfLargestCustomers" id="csan_NumberOfLargestCustomers" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BBBCreditRatingMember" id="csan_BBBCreditRatingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChinaCommunicationsConstructionCompanyLimitedMember" id="csan_ChinaCommunicationsConstructionCompanyLimitedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BancoItauAndBancoBradescoMember" id="csan_BancoItauAndBancoBradescoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AveragePaymentTermToSuppliers" id="csan_AveragePaymentTermToSuppliers" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="InvestmentMaturityTerm" id="csan_InvestmentMaturityTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfPillarsFocusedBySegment" id="csan_NumberOfPillarsFocusedBySegment" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfBindingProposalForShareCapitalAcquisition" id="csan_PercentageOfBindingProposalForShareCapitalAcquisition" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NumberOfMineralProjects" id="csan_NumberOfMineralProjects" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="SectorFinancialAssets" id="csan_SectorFinancialAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" id="csan_AccumulatedAdjustmentsOfAdditionalPaidinCapitalMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RestrictedCashAndCashEquivalentsMember" id="csan_RestrictedCashAndCashEquivalentsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTable" id="csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" id="csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherInvestmentMember" id="csan_OtherInvestmentMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOperationsAndCorporateReorganizationAbstract" id="csan_DisclosureOfOperationsAndCorporateReorganizationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOperationsAndCorporateReorganizationTextBlock" id="csan_DisclosureOfOperationsAndCorporateReorganizationTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOperationsAndCorporateReorganizationTable" id="csan_DisclosureOfOperationsAndCorporateReorganizationTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OrdinarySharesClassAAndClassBMember" id="csan_OrdinarySharesClassAAndClassBMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanSAAmericanDepositaryShareMember" id="csan_CosanSAAmericanDepositaryShareMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanSAShareOrCosanSAAmericanDepositaryShareMember" id="csan_CosanSAShareOrCosanSAAmericanDepositaryShareMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CosanSAShareMember" id="csan_CosanSAShareMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DisclosureOfOperationsAndCorporateReorganizationLineItems" id="csan_DisclosureOfOperationsAndCorporateReorganizationLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfDepositaryReceiptReceivedFromConversion" id="csan_NumberOfDepositaryReceiptReceivedFromConversion" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="SharesExchangeRatio" id="csan_SharesExchangeRatio" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="NewShareBuybackProgramMember" id="csan_NewShareBuybackProgramMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FirstTrancheMember" id="csan_FirstTrancheMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SecondTrancheMember" id="csan_SecondTrancheMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfSharesBuybackAuthorised" id="csan_NumberOfSharesBuybackAuthorised" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="PercentageOfBuybackSharesRepresentTotalShares" id="csan_PercentageOfBuybackSharesRepresentTotalShares" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="MaturityTermOfBuybackShares" id="csan_MaturityTermOfBuybackShares" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>11
<FILENAME>ex11_1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';"><font style="font-weight: bold;"><font style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';">EXHIBIT 1.1</font></font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps; font-weight: bold; text-decoration: underline;">bylaws of </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps; font-weight: bold; text-decoration: underline;">Cosan S.A.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER I</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">NAME, HEAD OFFICES, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">PURPOSE</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;"> AND TERM</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Cosan S.A. (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Company</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is a corporation governed by the provisions of these Bylaws (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Bylaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;) and applicable legal provisions</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> As </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Company was accepted at the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; text-decoration: underline;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;) of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> B3 S.A.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brasil</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, Bolsa, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Balc&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">B3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;),</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Company, its shareholders, including controlling shareholders, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">managers</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and members of the Fiscal Council, if instated, shall be subject to the provisions of the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; text-decoration: underline;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;"> Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;). </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; The Company, its Management, and shareholders shall observe the provisions of the Listing Rules of Issuers and Acceptance of Securities Trading, including the rules referring to the withdrawal and exclusion of trading of securities accepted at the Organized Markets administered by B3.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Company&#8217;s headquarters and jurisdiction </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are located in</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the City and State of S&#227;o Paulo, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and it may install, maintain and close branches, agencies, offices or representative offices, in any other part of Brazil or abroad, as resolved by the Board of Executive Officers</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company&#8217;s purposes are to </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> import, export, produce and trade sugar, ethanol, sugarcane, and other sugar byproducts; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> distribute fuels in general and trade oil byproducts; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> establish fuel supply stations, purchase and sell oil-derived fuels and lubricants; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> provide logistics and port services, as well as technical, administrative and financial advisory services; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(v)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> any type of transportation of passengers and cargo, including inland navigation, river and lake ferries; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> produce and trade electricity, live steam, steam escape and other electricity co-generation byproducts; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> farming and livestock activities in proprietary or third-party-owned lands; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(viii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> import, export, handle, trade, produce, store, load or unload fertilizers and other agricultural inputs; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ix)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> manage on its own account or through third parties assets and property and may lease, receive and grant in partnership, rent and lease furnishings, properties and equipment in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">general; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(x)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> render technical services related to the activities mentioned above; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> hold equity interest in other companies; and (xii) processing and trading of fuel gases.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>1</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The activities described in the Company&#8217;s purpose may be carried out in Brazil or abroad, directly, or through its subsidiaries, or also through equity interest held in other companies</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 4 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Company&#8217;s duration is indeterminate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER II</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CAPITAL STOCK AND SHARES</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 5 &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Company&#8217;s fully </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subscribed</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and paid-in capital is </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">eight billion, four hundred and two million, five hundred and forty-three thousand, five hundred and fifty reais and ninety-seven cents </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8,402,543,550.97</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), divided into </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">one billion, eight hundred and seventy-four million, seventy thousand, nine hundred and thirty-two (1,874,070,932)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Capital stock shall be exclusively represented by common shares, and each common share entitles the holder thereof to one (1) vote in each resolution of the Shareholders&#8217; Meetings of the Company. </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Company may not issue preferred shares.</font></p>
<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3 - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company shall not issue founder&#8217;s shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">- </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company shares shall be held in a trust account, on behalf of their holders, at a financial institution authorized by the Brazilian Securities and Exchange Commission (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">CVM</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;), with which the Company maintains a ruling custody agreement, without issuing certificates. The trustee may charge the shareholders the service costs for the transfer and registry of their respective book-entry share ownership, as well as for the service costs related to the shares held in custody, pursuant to the maximum limits set forth by the CVM.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>2</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; Except as provided for in Paragraph 6 of this Article 5 and Paragraph 1 of Article 6 below, shareholders have preemptive rights, at the proportion of the number of shares held thereby, in the subscription of new shares, convertible debentures or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">warrants issued by the Company, observing the legal term to exercise the preemptive right.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 6 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; Shareholders shall not have the preemptive right (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) in convertible debentures; (ii) in warrants convertible into shares; and (iii) in the granting and exercise of call option or subscription of the Company&#8217;s shares.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 7 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; The reimbursement </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> due to dissenting shareholders who exercised the withdrawal right in the assumptions provided for by Law No. 6,404 of December 15, 1976, as amended (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Brazilian Corporation Law</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;) is determined by dividing the net worth, as verified in the latest parent company financial statements approved at the Shareholders&#8217; Meeting, by total number of shares issued by the Company, excluding treasury shares.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The Company is authorized to increase its capital stock up to the limit of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nine</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> billion Reais (R$</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,000,000,000.00), regardless of amendment to the Bylaws, upon resolution of the Company&#8217;s Board of Directors, by issuing new common shares or by means of capitalization of profits or reserves, issuing or not issuing new shares.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Board of Directors has the authority to establish the number of shares to be issued, for distribution in Brazil or abroad, whether through public or private issue, payment price and term and other issue, subscription and payment conditions within the authorized capital stock, as well as to resolve on the exercise of preemptive right, in accordance with legal standards and these Bylaws, mainly as set forth in Article 172 of the Brazilian Corporation Law. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The Company may issue shares or convertible debentures or&nbsp; warrants, within the limit of authorized capital, without the granting of preemptive right to shareholders or with reduction of the period to exercise such preemptive right as provided for in Article 171, Paragraph 4 of the Brazilian Corporation Law, provided that the issuance is made through (a) sale at stock exchange or through public subscription, or (b) share swap in a tender offer, as provided for by laws. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - Within the limit of the authorized capital stock, and in accordance with the plan approved by the Shareholders&#8217; Meeting, the Board of Directors may authorize </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Company to grant call options or share subscription to its managers and employees, as well as to individuals that provide services to the Company or entities under direct, indirect or shared Company&#8217;s control, without preemptive right to shareholders and pursuant to the plan approved at the Shareholders&#8217; Meeting.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 7 - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Every shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Group of Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or holder of American Depositary Shares (ADSs)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> undertakes to disclose, by means of communicating to the Company if their direct and/or indirect participation in shares, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">American Depositary Shares (ADSs), </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights over shares, Other Rights of a Corporate Nature and other securities issued by the Company exceeds</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the levels of two point five percent (2.5%), </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">five percent (5%),</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> seven point five percent (7.5%),</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> ten percent (10%) and so on.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company will send the above information to the stock exchanges on which its securities are traded and to CVM, under the terms of the applicable legislation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, from the attainment of a stake equivalent to five percent (5%) and the subsequent shares that come to exceed multiples of two and a half percent (2.5%) of the securities mentioned in the caput and in the second paragraph below</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Holders of debentures convertible into shares, subscription bonus and stock option will have the same duty to ensure their holders the acquisi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tion of shares in the percentage</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> provided for in this Article 7.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The violation of the provisions of this Article shall subject the infringer(s) to the penalty of suspension of shareholder rights, pursuant to Article 120 of the Brazilian Corporation Law.</font></p>
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<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER III</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">SHAREHOLDERS&#8217; MEETINGS</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Shareholders&#8217; Meeting duly called and instated in accordance with applicable legislation and provisions of these Bylaws, has powers to decide all the matters related to the Company&#8217;s purposes and to take all the appropriate resolutions to the defense and development of such purposes</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 9 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Shareholders&#8217; Meeting shall meet (a) on an ordinary basis, once a year, within the first four (4) months after the end of each fiscal year, to decide on the matters set forth in the Article 132 of the Brazilian Corporation Law, and (b) on an extraordinary basis, whenever deemed necessary in accordance with the corporate interests, and under legal provisions and these Bylaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 10 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Shareholders&#8217; Meeting shall be called by the Chairman of the Board of Directors or, in the event of his absence, by a member appointed by him, and in the event of impediment, by the Vice Chairman of the Board of Directors or in the event of absence or impediment of Vice Chairman, by two (2) Board members jointly</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Shareholders&#8217; Meeting may also be called by persons indicated in the Sole Paragraph of Article 123 of the Brazilian Corporation Law, in the cases indicated therein</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The first call of the Shareholders' Meeting shall be made, at least, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">twenty-one</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) days in advance of the date scheduled for the Shareholders&#8217; Meeting, such period starting as from the publication of the first call notice that shall inform the place, date, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and agenda of the meeting. In case the Shareholders&#8217; Meeting is not installed after the first call, a second call notice shall be published, at least, eight (8) days in advance</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Shareholders&#8217; Meeting shall be instated and presided over by the Chairman of the Board of Directors (or by the person indicated by him/her)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who shall appoint the secretary to the Shareholders&#8217; Meeting</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the absence of the Chairman of the Board of Directors, the Shareholders&#8217; Meeting shall be instated and presided over by the Vice Chairman of the Board of Directors. In the absence of the Vice Chairman of the Board of Directors, the Shareholders&#8217; Meeting shall be instated and presided over by the director who has the greatest number of consecutive terms of office, or in the absence, by any other Board member or officer to be appointed by the majority of the votes of the shareholders attending the Shareholders&#8217; Meeting or represented by proxy, and the Chairman of the Shareholders&#8217; Meeting shall appoint his/her secretary</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 12 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In order to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> participate and vote in the Shareholders&#8217; Meeting, the shareholder must evidence such capacity presenting its identity card and a receipt issued by the trustee </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(original or facsimile copy), at least, two (2) business days before the Shareholders&#8217; Meeting. The shareholders represented by their attorneys-in-fact shall present the proxies within the same period and in the same manner, indicated above. The original documents referred to by this Article, or their copies regardless of certification or legalization of signatures shall be submitted to the Company before the Shareholders&#8217; Meeting is called to order. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; Shareholders may attend the Shareholders&#8217; Meeting by means of the remote voting form, observing the provisions of prevailing rules.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 13 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Without prejudice to other matters provided for by the Brazilian Corporation Law and these Bylaws, it shall be incumbent upon the Shareholders&#8217; Meeting: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to appoint and dismiss the members of the Board of Directors and the members of the Fiscal Council, if instated; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to establish the global compensation of members of the Board of Directors and Board of Executive Officers, as well as the compensation of the Fiscal Council, if instated; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to decide on the allocation of net income for the year and the distribution of dividends, in accordance with Management&#8217;s proposal; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to decide on the filing for court-supervised and out-of-court reorganization, or the filing for voluntary bankruptcy by the Company; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(v) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to resolve on the dissolution or liquidation of the Company; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to appoint the liquidator, as well as the Fiscal Council, which shall operate during the liquidation period; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp; to amend the corporate purposes and/or any amendment to these Bylaws; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(viii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to resolve on the deregistering as a publicly-held company at the CVM</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER IV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">MANAGEMENT</font></p>
<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">Section I</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">- </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">General Provisions</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 14 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Company is managed by the Board of Directors and the Board of Executive Officers in accordance with applicable laws and as provided for by these Bylaws. The members of the Board of Directors shall be elected at the Shareholders&#8217; Meeting and members of the Board of Executive Officers shall be elected by the Board of Directors</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">- </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Managers shall be vested in office by means of the signature by vested Manager of the instrument of investiture drawn up in the Company&#8217;s records, which shall provide for his submission to the arbitration clause referred to in Article 39 hereof, exempting any management pledge</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The investiture of members of the Board of Directors and Board of Executive Officers, irrespective of management </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pledge,&nbsp; shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> be subject to the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> adhesion to the Disclosure of Relevant Information and Securities Trading Policy adopted by the Company, which consolidates the rules to disclose the Company&#8217;s relevant information to investors, as well as the use of this information by the Company, and the compliance with the applicable legal requirements. </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Management immediately after their investiture shall notify the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> B3 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">about the number and characteristics of the Company securities they hold, directly or indirectly, including any derivatives</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; The positions of Chairman of the Board of Directors and Chief Executive Officer or top executive of the Company cannot be cumulated by the same person.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 15 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Management compensation shall be established at the Shareholders&#8217; Meeting. The Board of Directors shall resolve on the allocation of such compensation between board members and executive officers</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">Section II</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">Board of Directors</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 16 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Board of Directors shall consist of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, at least, five (5) and at most, twenty </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(20) members, to be elected and removed from office at the Shareholders&#8217; Meeting, with two (2) year combined term of office and reelection is allowed</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The end of the term of office of Board members shall coincide with the date of the Annual Shareholders' Meeting of the Company to be held two (2) years after their election.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - At each Annual Shareholders&#8217; Meeting whose agenda is to resolve on the election of the Board of Directors, shareholders shall decide on the number of sitting Board members to be elected at that meeting to compose the Board of Directors in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respective term of office. The Board of Directors shall have one (1) Chairman and one (1) Vice Chairman, which shall be appointed at the Shareholders&#8217; Meeting</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; Of Board of Directors&#8217; members, at least, two (2) or twenty percent (20%), whichever is greater, shall be independent board members, as defined by the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules, and the characterization of those appointed to the Board of Directors as independent board members shall be resolved at the Shareholders&#8217; Meeting electing them. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">due to the observance of percentage defined in Paragraph above, the result is a fractional number, the Company shall round off to the integer number immediately above.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 5 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Board members shall remain in their offices and performing their duties until their alternates&#8217; investiture, except in case otherwise decided at the Shareholders&#8217; Meeting</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 17 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> In the event of a temporary absence of the Chairman, his/her duties shall be performed by the Vice Chairman. In the event of a temporary absence of the Vice Chairman, his/her duties shall be performed by a sitting Board member appointed by other members for such purpose. In the event of absence or temporary impediment of any other Board member, his/her duties shall be performed by another Board member to whom the absent member has granted powers for such purpose, or, in the event the absent member has not granted powers to any other member, by sitting member appointed by other Board members for such purpose.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> In any event where there is no agreement, the director with the greatest number of consecutive terms of office will assume the role of President.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> In the event of vacant position of any Board member, the Chairman, or whoever is performing his/her duties, shall appoint an alternate who shall serve until the Shareholders&#8217; Meeting at which a new member shall be </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elected</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and his term of office shall take effect until the end of combined term of office of other Board members. In the event of a simultaneous vacancy in Chairman and Vice Chairman positions, the remaining Board members shall call for a Shareholders&#8217; Meeting to appoint their alternates. For purposes of this Article, the vacancy occurs in cases of dismissal, decease, resignation, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">evidenced impediment, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">disability</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or unjustified absence in more than three (3) consecutive meetings</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 18 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Board of Directors shall meet ordinarily four (4) times a year, and extraordinarily whenever called by the Chairman or the Vice Chairman of the Board of Directors or by the decision of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the majority of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> its members or, also, as requested by the Board of Executive Officers. To be valid, the call notice shall be made, at least, eight (8) days </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in&nbsp; advance</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and shall indicate the date, time and place of the meeting, which shall be held at the Company&#8217;s head offices or any other place to be informed upon call notice, jointly with the items of the agenda</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The call notice is exempted if all Board members attend the meeting.</font></p>
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<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Board members may be called through registered mail (return-receipt requested), facsimile or electronic mail. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 19 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The meetings of the Board of Directors shall be presided over by the Chairman of the Board of Directors or, during his/her absence, by whom he/she appoints and, in case of impediment, by the Vice Chairman of the Board of Directors (or, in the absence of the Vice Chairman, by another member appointed by the majority vote of other Board members). The meetings shall be instated with the attendance of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the majority of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> sitting members of the Board of Directors. A Board member may be represented at the meetings by another Board member to whom powers have been granted for such purpose and may forward his/her vote in writing, including via facsimile</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The meetings of the Board of Directors may be held exceptionally via conference call or video conference, provided that such possibility has been indicated in the respective call notice. In this case, the minutes shall be sent via electronic mail or on the Board of Directors' communication platform to the Board member who participates through a conference call or video conference</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 20 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Each Board member shall be entitled to one (1) vote at the Board of Directors meetings, whether personally or by appointed proxy, who shall submit specific power of attorney for the meeting called and the written vote of the absent Board member, including his respective justification. The Board members' votes forwarded in writing </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">before the meeting shall be considered valid. The decisions at the meeting shall be valid in case approved by </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the majority of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Board members attending the meeting. Resolutions shall be drawn up in the minutes and in the Minutes Book of the Board of Directors Meetings and, whenever such decisions have effects before third parties, the minutes summary shall be filed at the appropriate board of trade and published</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 21</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> It is incumbent upon the Board of Directors to: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> elect and dismiss the members of the Board of Executive Officers and establish their duties, including the Investor Relations Officer; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> establish the guidelines of the Company&#8217;s business and of the business of any of its Controlled Companies; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> approve the working plan and annual budgets, the investment plans and the new expansion programs of the Company and its Controlled Companies, including acquisitions, as well as follow-up their implementation; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> supervise the officers tenure examining at any time the minutes, books and documents of the Company and its Controlled Companies, requesting any information on executed agreements, agreements to be executed or any other acts; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(v)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> call for Shareholders&#8217; Meeting, in accordance with Articles 8 and 10 above, whenever necessary or required by law or in accordance with these Bylaws; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> render an opinion on the Management report and accounts submitted by the Board of Executive Officers and annual and/or interim financial statements and suggest the allocation of the net income for each year; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> decide on the issuance of shares or warrants, within the limit of the authorized capital; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(viii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize the Company&#8217;s acquisition of its own shares (a) to be held in treasury, canceled and/or subsequently sold; or (b) donation; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ix)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize the Company shares redemption, reimbursement or amortization transactions as provided for by laws; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(x)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize the acquisition of shares issued by the Company when the capital stock decrease is resolved through reimbursement in cash of part of the shares value and the market price of these shares is lower than or equivalent to the amount to be reimbursed; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xi) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">decide on the issuance of debentures, convertible or not into shares (pursuant to Article 6, Paragraph 1 of these Bylaws in relation to the issuance of convertible debentures), and promissory notes for public offering in accordance with the applicable law; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> appoint and discharge the Company&#8217;s independent auditors; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xiii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize new loans and financings in an aggregate amount greater than sixty million Reais (R$60,000,000.00), except for refinancing, renewal or amendment to loans and financing operations previously taken out by the Company, which shall be approved by the Board of Executive Officers; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xiv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize the disposal of or the creation of liens on </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the permanent assets of the Company or any of its Controlled Companies in an aggregate amount greater than sixty million Reais (R$60,000,000.00); </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize the tendering of security interest or personal guarantee of any nature by the Company to third-party obligations, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of any amount, exempting previous approval when refers to (a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">suretyship in lease agreements entered into by employees or officers; and (b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the third party is an entity of the Company&#8217;s economic group, in these assumptions, the prohibition provided for in Article 26 hereof shall not apply</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xvi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> authorize the performance of acts which result in the waive of rights by the Company in an aggregate amount greater than sixty million Reais (R$60,000,000.00); </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xvii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> establish the general conditions and authorize the execution of agreements by the Company in an aggregate amount greater than sixty million Reais (R$60,000,000.00); </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xviii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> render an opinion on the matters submitted by the Board of Executive Officers for its resolution or to be submitted to the Shareholders&#8217; Meeting; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xix)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> decide on the shutting down of the Company&#8217;s activities or any of its Controlled Companies; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xx)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> at any time request the examination of any matter regarding the&nbsp; business of the Company and its Controlled Companies beyond the exclusively incumbency of the Shareholders&#8217; Meeting; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> decide on any transaction above five hundred thousand Reais (R$500,000.00) between, on the one hand, the Company (or any of its Controlled Companies) and on the other hand, any direct or indirect controlling shareholders; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> propose the allocation to be given to the remaining balance of each year&#8217;s income at the Shareholders&#8217; Meeting; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxiii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> declare interim dividends, as well as interest on capital in accordance with the provisions of the Brazilian Corporation Law and applicable legislation, subject to the approval of the Annual Shareholders&#8217; Meeting;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxiv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">select the first-rate specialized institution or company to prepare the economic value report referred to in article 37, paragraph 4, item (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) of these Bylaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> approve the engagement of trustee for rendering of bookkeeping services of the book-entry shares;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> (xxvi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> define the variable compensation of the Management; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxvii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> determine the hiring or the appointment of executives to compose or assist the Company&#8217;s Management; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxviii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree or disagree </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with any tender offer for the acquisition&nbsp; of Company shares through substantiated opinion, disclosed fifteen (15) days as of the publication of tender offer notice, which shall include at least (a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the convenience and the appropriateness of the tender offer as to the interest of the Company and group of shareholders, inclusive in relation to the price and the potential&nbsp; impacts for the liquidity of securities issued thereby; (b) the strategic plans revealed by offeror in relation to the Company; (c) alternatives to the acceptance of the tender offer for acquisition of shares available in the market; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(d) other issues the Board of Directors deems relevant, as well as the information required by applicable rules established by the CVM; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxix)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> express their intent prior to exercising the Company&#8217;s right to vote in Shareholders&#8217; Meetings of corporations in which the Company holds shareholding interest and/or Subsidiaries; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxx)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> name, invest, remove, accept resignation from and substitute members of the Audit Committee, in accordance with effective regulations; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxxi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> set the compensation of members of the Audit Committee, in addition to the annual budget or by projects allocated to covering expenses for the functions of the Audit Committee, including the cost of hiring service providers and external consultants; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxxii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> examine and approve internal regulations, as well as operational rules, for the functioning of the Audit Committee; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxxiii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> meet whenever necessary with the Audit Committee; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxxiv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> examine and evaluate annual reports of the Audit Committee</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(xxxv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approve and review the code of conduct, applicable to all employees and managers of the Company&#8217;s, and the Company&#8217;s policies, including (a) Related Party Transaction Policy; (b) Risk Management Policy; (c) Securities Trading and Disclosure of Information Policy; (d) Policy of Appointment of members of the Board of Directors, its advisory committees and statutory executive board; and (e) Compensation Policy.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Section III &#8211; Board of Executive Officers</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 22</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Board of Executive Officers shall consist of, at least, three (3) and at most, eight (8) members, resident in Brazil one (1) Chief Executive Officer, one (1) Chief Legal Officer; one (1) Chief Financial Officer; one (1) Investor Relations Officer; and up to four (4) Executive Officers without a specific title, and any officer may cumulate more than one position.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The term of office of executive officers shall be two (2) years. Reelection is allowed. </font></p>
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<p style="background-color: #ffffff; line-height: 17pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - Officers shall remain in their positions until the investiture of their alternates unless otherwise resolved by the Board of Directors.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - In the event of the absence or temporary impediment of any executive officer, the Board of Directors shall appoint the substitute of this temporarily absent officer. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - In the event of a vacancy of any officer position, a new member shall be elected at the next meeting of the Board of Directors, which shall be held within no later than thirty (30) days after such vacancy. For the purposes of this Article, the vacancy shall occur in the event of dismissal, decease, resignation, evidenced impediment, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">disability</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or unjustified absence for more than thirty (30) consecutive days.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 23</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The Board of Executive Officers shall meet whenever called by any of its officers. The meetings are instated with the attendance of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the majority of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> executive officers. Each officer is entitled to one (1) vote at the meetings. The decisions of the Board of Executive Officers are valid if approved by </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the majority of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the officers attending the meeting. In the event of a tie vote, the Chief Executive Officer, exclusively, shall have the casting vote. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The minutes of the meetings shall be registered at the Minutes Book of the Board of Executive Officers&#8217; Meetings.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 24</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The Company shall be managed by the Board of Executive Officers, who have full powers to manage its corporate business, in accordance with its attributions and subject to the provisions set forth by laws and these Bylaws.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Without prejudice to the provisions in the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">caput</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of this Article 24, the Board of Executive Officers shall: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> decide on all matters which are not the exclusive incumbency of the Shareholders&#8217; Meeting or the Board of Directors; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> hire and dismiss employees, set the personnel salary levels and create and extinguish job positions; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> prepare investment plans and operation budgets; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> compromise, waive, execute agreements and make commitments, take out loans, allocate funds, acquire or dispose of assets and property, grant sureties or other guarantees, in accordance with&nbsp; provisions of Article 25 below; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(v)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> prepare half-yearly or interim balance sheets, whenever required; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> prepare the report and financial statements for each year; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> decide on the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">opening and maintenance of branches, subsidiaries, agencies, offices or representative offices of the Company in any part of Brazil or abroad</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Each executive officer shall have exclusively the following attributions: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">Chief Executive Officer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">:</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (a) to implement and cause the implementation of the decisions of the Shareholders&#8217; Meeting and the Board of Directors</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; (b) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to determine and cause the implementation of the policies, strategies, budgets, investment projects and other conditions of the Company&#8217;s business plan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; (c) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to coordinate the activities of the other officers, in compliance with the specific attributions set forth in these Bylaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; (d) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to preside over the Board of Executive Officers&#8217; meetings; and (e) to permanently coordinate the performance of&nbsp; other executive officers, establishing the corporate, legal, political and institutional guidelines in the development of the Company&#8217;s activities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">(ii) </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">Chief Legal Officer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">:</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a) to organize, control, coordinate and supervise the Company&#8217;s legal issues concerning their technical, operational, institutional and strategic aspects; and (b) to organize, control, coordinate and supervise the engagement of external professionals related to legal services</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">(iii) Chief Financial Officer: </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to plan, implement and coordinate the financial policy of the Company, besides organizing, elaborating and controlling the Company&#8217;s economic budget</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; (b) plan and execute management policies in his area of expertise; (c) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">plan, execute and manage merger &amp; acquisition operations to be carried out by the Company</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as well as ensure the regular execution and compliance with the agreements deriving from these operations</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and (d) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to represent the Company, in Brazil and abroad, before authorities, financial institutions or companies involved in merger &amp; acquisition operations</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;"> (iv) Investor Relations Officer:</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to coordinate, administer, manage and supervise the capital market relations, represent the Company before shareholders, investors, market analysts, the CVM, stock exchanges, the Brazilian Central Bank and other authorities related to the capital markets activities, in Brazil or abroad</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; (b) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to provide all the information required by laws and stock market regulation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and (c) plan and execute management policies in his area of expertise; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">(v)&nbsp; Executive Officers:</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to perform the duties attributed by the Board of Directors or by the Chief Executive Officer, in order to execute the Company&#8217;s purposes</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 25 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Company shall be represented as plaintiff or defendant, in or out of court, in accordance with the following criteria: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> at shareholders&#8217; or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">quotaholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8217; meetings of companies if which the Company is shareholder or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">quotaholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, by two (2) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">executive officers jointly, one of them the Chief Executive Officer, through previous authorization from the Board of Directors, which shall indicate the type of vote to be cast; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> in the acts or transactions that create obligations to the Company or relieve third parties from obligations due to the Company, (a) by two (2) executive officers jointly, involving an aggregate amount of up to fifteen million </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Reais</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (R$15,000,000.00); (b) by two (2) executive officers jointly, one of them the Chief Executive Officer, involving an aggregate amount greater than fifteen million </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Reais</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (R$15,000,000.00) and up to sixty million Reais (R$60,000,000.00); and (c) by two (2) executive officers jointly, one of them the Chief Executive Officer, through previous authorization of the Board of Directors, involving an aggregate amount greater than sixty million </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Reais</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (R$60,000,000.00</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">); </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the granting of power of attorney</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (a) by two (2) executive officers jointly, when the power of attorney has no value or when it involves an aggregate amount of up to fifteen million Reais (R$15,000,000.00); (b) by two (2) executive officers jointly, one of them the Chief Executive Officer, when the power of attorney involves an aggregate amount above fifteen million Reais (R$15,000,000.00) up to sixty million Reais (R$60,000,000.00); and (c) by two (2) executive officers jointly, one of them the Chief Executive Officer, by means of a previous authorization of the Board of Directors, when the power of attorney involves aggregate amount higher than sixty million Reais (R$60,000,000.00); and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> in other acts or transactions, by two (2) executive officers jointly. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; In cases indicated in items (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), (ii) and (iii) of the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">caput</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of this Article 25, the Board of Directors may allow that any executive officer or attorney-in-fact empowered as provided for by this Article to represent the Company in such acts or operations.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; Except for the powers of attorney for legal purposes, other powers of attorney granted by the Company shall contain </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specific powers and have determined the duration, and the powers of an attorney whose effectiveness term has its expiration expressly connected to the practice of act or transaction to which these are specifically granted</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The powers of attorney granted for legal purposes, except if expressly revoked, are granted by the Company for the duration of the proceedings</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 26 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The acts practiced by any Board member, executive officer, attorneys-in-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fact</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or employees in business not pertaining the Company&#8217;s purposes, including the tendering of sureties, endorsement or any other guarantees not related to the corporate purposes or in violation of the provisions herein are expressly void and null and not binding to the Company</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">CHAPTER V &#8211; MANAGEMENT ANCILLARY BODIES</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 27 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Company shall have two statutory committees, namely, the audit committee (&#8220;Audit Committee&#8221;) and people </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and nominating</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">committee (&#8220;People Committee&#8221;), which are advisory bodies directly reporting to the Board of Directors, with duties and responsibilities set forth in prevailing rules and respective charters. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; The Board of Directors may create additional committees to assist the Company&#8217;s management, with restricted and specific objectives and determinate duration, designating their respective members.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211; The same obligations and prohibitions imposed by law, these Bylaws, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> rules to the Company&#8217;s Management shall apply to members of the Audit Committee, People Committee, and other committees to be created by the Board of Directors to assist the Company&#8217;s management. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 28 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Audit Committee carries out its duties in observance to the provisions of these Bylaws, its charter and applicable CVM and B3 rules, and its resolutions are merely opinionative, not bound to the Board of Directors&#8217; resolutions.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 29 - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Audit Committee shall be composed of, at least, three (3) members, in its majority independent members, elected by the Board of Directors for a two-(2) year term of office, renewable at the discretion of the Board of Directors, observing the limits provided for by laws or applicable rules.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The composition of the Audit Committee shall observe the following:</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at least, one (1) member shall be an independent board member, pursuant to the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules;</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at least, one (1) member shall have recognized experience in corporate accounting;</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as members of the Audit Committee is forbidden the participation of the Company&#8217;s executive officers, its controlled companies, controlling shareholders, associated </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">companies</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or companies under common control; and</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(iv)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the same member of the Audit Committee may cumulate both characteristics provided for in the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;"> Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Audit Committee shall have a coordinator whose activities will be defined in the Audit Committee&#8217;s charter, as approved by the Board of Directors.&nbsp;</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The duties of the Audit Committee include those laid out in effective regulations and its charter, namely: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> provide an opinion on the hiring or removal of an independent auditor to prepare an external, independent audit or any other service; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">oversee activities: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii.1.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of independent auditors, to evaluate: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii.1.1.)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the independence thereof; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii.1.2)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the quality of services provided; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii.1.3.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the adequacy of services provided to the Company; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii.2.)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Company&#8217;s internal control area;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> (ii.3.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Company&#8217;s internal audit area; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii.4.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the area responsible for the preparation of the Company&#8217;s financial statements;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> (iii) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">monitor the quality and integrity of:</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> (iii.1.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">internal control mechanisms;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> (iii.2.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Company&#8217;s quarterly information, interim statements and financial statements; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii.3.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">information and measurements released based on adjusted financial data and non-financial data that add elements not envisaged in the usual structure of reports on financial statements; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> evaluate and monitor the Company&#8217;s risk exposure, being permitted to request detailed information on policies and procedures for: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv.1.) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">management compensation; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv.2.)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the use of the Company's assets; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv.3.)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> expenses incurred on behalf of the Company; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(v)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> evaluate and monitor, with management and the internal audit area, the adequacy of the Company&#8217;s transactions with related parties and the respective evidence thereof; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prepare a bi-yearly report, if necessary, and, by mandate, an summarized annual report, to be presented with the financial </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statements, containing a description of: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi.1.)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Committee&#8217;s activities, including the indication of meetings held and main issues discussed, the results and conclusions reached and recommendations made; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vi.2.)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> any situations in which there is a significant diversion between management, independent auditors and the Committee with regards to the Company's financial statements; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(vii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> assess, monitor and advise the Board of Directors on the correction or improvement of the Company&#8217;s internal policies, including related party transaction policy; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(viii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> have means to receive and treat information relating to the failure to comply with legal provisions and rules applicable to the Company, besides internal rules and codes, including a provision of specific procedures to protect the provider of information confidentiality. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 30 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The People Committee shall be composed of three (3) members, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elected</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and removed by Board of Directors and selected among members of the Board of Directors, all of them with a two (2) year term of office.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; The People Committee </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is in charge of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> allocating the amount destined as a global allowance to Management, defined at the shareholders&#8217; meeting, among members of each body and its division according to the nature of benefits and in conformity with provisions hereof and its charter.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER VI</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> -</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">F</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">ISCAL COUNCIL</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 31</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The Fiscal Council of the Company, with the attributions and powers set forth in the Brazilian Corporation Law, shall be composed of, at least, three (3) and at most five (5) sitting members, and equal number of alternates, shareholders or not, elected at the Shareholders&#8217; Meeting between persons resident in Brazil, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as long as</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> they fulfill the position legal requirements. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The Fiscal Council operates on a non-permanent basis, being instated solely by a decision of the Shareholders&#8217; Meeting, in accordance with the provisions provided for by laws and these Bylaws. </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; The investiture of sitting and alternate members of the Fiscal Council shall be subject to the signature of instrument of investiture which shall be subject to the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitration clause referred to in Article 39 hereof, as well as the adhesion to the Disclosure of Relevant Information and Securities Trading Policy adopted by the Company, which consolidates the rules to disclose relevant information of the Company to investors and the use of this information by the Company, as well as to comply with applicable legal requirements.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER VII</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">FISCAL YEAR, DISTRIBUTIONS AND RESERVES</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;"> </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 32</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company&#8217;s fiscal year shall commence on January 1st and shall end on December 31 of each year. At the end of each fiscal year, the financial statements related to the fiscal year ended shall be drawn up and submitted to the Board of Directors and at the Shareholders&#8217; Meeting</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">-</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> The financial statements for the year shall include the Management proposal referring to the allocation of the net income, pursuant to the provisions hereof and the Brazilian Corporation Law.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 33</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> &#8211; The net income for the year shall have the following allocation: </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> five percent (5%) of the net income shall be allocated to the legal reserve, which shall not exceed twenty percent (20%) of the capital stock, and in the year when the balance of legal reserve plus capital reserves exceeds thirty percent (30%) of the capital stock, the partial allocation of net income for the year to legal reserve shall not be mandatory; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the amount corresponding to reserve for contingencies, pursuant to Article 195 of the Brazilian Corporation Law; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> amount corresponding to twenty-five percent (25%) of net income for the year, pursuant to Article 202 of the Brazilian Corporation Law, shall be distributed to shareholders as mandatory dividend; and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(iv)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Company will maintain a statutory profit reserve called the &#8220;Special Reserve,&#8221; whose purpose will be to reinforce the working capital and to finance the maintenance, expansion and development of the activities of the Company and/or its Subsidiaries, including through the subscription in capital increases or the creation of new businesses, which shall be constituted with up to seventy-five percent&nbsp; (75%) of the net income from each fiscal year and whose balance, when added to the balances of the other profit reserves, except the profits to be realized reserve and the contingencies reserve, shall not exceed one hundred percent (100%) of the Company&#8217;s paid-up capital stock. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1 -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Once the provisions contained in the items of this Article are met, the allocation of the remaining balance will be determined at the Shareholders&#8217; Meeting, based on the Management proposal, in accordance with the provisions of Article 176, Paragraph 3, and Article 196 of the Brazilian Corporations Law, in compliance with the provisions set forth in Article 134, Paragraph 4 of said law. In the event the balance of the profit reserve exceeds the capital stock, the Shareholders&#8217; Meeting shall resolve upon the use of the surplus to pay up or increase the capital stock or to distribute additional dividends to shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 &#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> In the year when the amount of mandatory dividend, calculated pursuant to these Bylaws, exceeds the realized amount of net income for the year, the shareholders&#8217; meeting may, as proposed by Management&#8217;s bodies, earmark the surplus to the reserve for realizable profit. The amounts recorded in reserve for realizable profit, if not absorbed by subsequent losses, only may be used to pay the mandatory dividend. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 34</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Upon resolution of the Board of Directors, the Company may pay interest on capital to its shareholders, which will be attributed to the minimum mandatory dividend provided for in Article 33 above, and for all effects, the dividends distributed by the Company shall compose this amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 35</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company may draw up half-yearly or interim balance sheets and declare, upon resolution of the Board of Directors, dividends to the account of profits verified in these balance sheets, on account of the aggregate amount which shall be distributed at the end of respective fiscal year, observing the limitations provided for by laws. The dividends so declared constitute an anticipation of the mandatory dividend referred to in Article 33 above</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> -</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> By resolution of the Board of Directors, the Company may up to legal boundaries, declare dividends at the profits reserve account of the last annual or half-yearly balance sheet</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2 - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The dividends not claimed by any shareholder within a three-(3) year period as of the date of resolution about their distribution shall revert to the Company and no interest rate shall accrue on this amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER VIII</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">TRANSACTIONS WITH SHARES ISSUED BY THE COMPANY</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Section I &#8211; Disposal of Share Control</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 36</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The sale of the Company&#8217;s share direct or indirect control, whether by a single transaction or by successive transactions, shall be implemented under the condition that buyer of control undertakes to conduct, a tender offer involving shares issued by the Company held by other shareholders, according to the conditions and terms provided for by prevailing laws and regulations and the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules, so that to ensure them equal treatment given to selling shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. </font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Section II - Public Offering in the event of Acquisition of Relevant Equity Interest</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 37</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - Any shareholder or Group of Shareholders that directly or indirectly acquires the ownership of shares issued by the Company or Other Rights of a Corporate Nature, equal to or greater than ten percent (10%), until January 31, 2028, and fifteen percent (15%) as of February 1, 2028, of the capital stock (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Relevant Equity Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;), excluding treasury shares for the purposes of this calculation, both by means of a single operation and through various operations, including through the incorporation or incorporation of shares of the Company (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">New Relevant Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;), a public offering for the acquisition of all shares and securities convertible into shares owned by the other shareholders of the Company shall be carried out, pursuant of this article (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Tender Offer for Achievement of Relevant Equity Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221; or &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">OPA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;).</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For the purpose of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> verifying the indirect achievement of Relevant Equity Interest, the ownership of all shares with voting rights or Other Rights of a Corporate Nature held by each and every controlling shareholder or Group of Controlling Shareholders, directly or indirectly, until the final natural person beneficiary of the New Relevant Shareholder, shall be counted.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The OPA shall be: (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) addressed indistinctively to all of the Company's shareholders; (ii) carried out in an auction to be held at B3; (iii) launched at the price determined in accordance with the provisions of Paragraph 4 of this article and paid in cash, in national currency; and (iv) instructed with the Company's appraisal report, prepared in accordance with the criteria listed in the specific CVM rules on public offerings for the acquisition of shares, observing the criteria established in Paragraph 4 of this article for setting the minimum price of the offer.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - Without prejudice to the fulfillment of the obligations provided for in the applicable regulation, immediately after acquiring or becoming the holder of shares issued by the Company or Other Rights of a Corporate Nature in an amount equal to or greater than ten percent (10%) or fifteen percent (15%) of the capital stock, as the case may be at the time, directly or indirectly, the New Relevant Shareholder shall send a communication to the Investor Relations Officer containing: (a) the information provided for in article 12 of the Instruction CVM No. 358, of January 3, 2002, and in items &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221; to &#8220;m&#8221; of item I of Annex II to CVM Instruction No. 361, of March 5, 2002; (b) information on any Other Rights of a Corporate Nature that he/she has; (c) information on the obligation to carry out the OPA; (d) information on the highest price paid by the New Relevant Shareholder in the twenty-four (24) months preceding the achievement of the Relevant Equity Interest, adjusted by corporate events that occurred after the date of the transaction, such as reverse splits, splits, bonuses, except those related to corporate restructuring transactions, accompanied by a justified demonstration of this price; and (e)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the information on the acquisition price per share object of the OPA that the New Relevant Shareholder shall be willing to pay, in accordance with Paragraph 4 of this article (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Tender Offer Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;).</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 4 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">- The Tender Offer Price cannot be lower than the result obtained according to the application of the following formula:</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Tender Offer Price = Share Value + </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Prize</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, where:</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8220;TENDER OFFER PRICE&#8221; corresponds to the acquisition price of each share issued by the Company in the OPA.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8220;SHARE VALUE&#8221; corresponds to the highest value among:</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the economic value per share determined in an appraisal report (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Economic Value Report</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;), prepared by a financial institution to be determined by the Company's Board of Directors, based on the first </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ten </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) merger and acquisitions ranking institutions in Brazil by value of operations in the previous year, based </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">up</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on specialized publication</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> recognized in the market. The costs of preparing the Economic Value Report must be fully borne by the New Relevant Shareholder. The Economic Value Report </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> take into account the economic value of the subsidiaries, investees and other equity interests held by the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Company;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">highest unit price reached by the shares issued by the Company during the period of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">twenty-four </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">24</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) months prior to the realization of the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">OPA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> among the values registered in any stock exchange in which </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shares are traded;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the highest price paid by the New Relevant Shareholder, during the period </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">twenty</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> four </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">24</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) months prior to the realization of the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">OPA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, for one share or lot of shares issued by the Company.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8220;PRIZE&#8221; corresponds to fifty percent (50%) of the Share Value.</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'>20</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - For the purposes of the provisions of Paragraph 4 above, in the case of shares represented by deposit certificates (including shares included in Depositary Receipts programs), the unit price of the share will be determined by dividing: (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) the price of the referred deposit certificate, in the market in which it is traded for by (ii) the number of shares represented by the certificate.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The calculations referred to in the previous paragraph must be carried out with five (5) decimal places, and the final share price must be expressed with two (2) decimal places, observing the following rounding rule: (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) it will be done from the last decimal place to the previous one; (ii) if there are more than five (5) decimal places, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rounding will be made from the fifth (5th) decimal place to the previous one; (iii) the figure of the last decimal place or the fifth (5th) decimal place (as the case may be), if equal to or less than five (5) (including zero) will be excluded; and (iv) if the number of the last decimal place or the fifth (5th) decimal place (as the case may be) is greater than five (5), the number of the previous decimal place will be increased by one.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - In the event that the New Relevant Shareholder does not comply with the obligations imposed by these Bylaws, including with regard to meeting the deadlines for carrying out the OPA, the New Relevant Shareholder who has not fulfilled any obligation imposed by this article will have its&#8217; rights suspended, pursuant to article 120 of the Brazilian Corporation Law, and the suspension will cease as soon as the obligation is fulfilled.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - If the OPA is not legally subject to registration with the CVM, the New Relevant Shareholder shall publish the notice of the OPA within ten (10) business days, counted from the date of the presentation, by the institution or specialized company, of the appraisal report, which must be prepared within thirty (30) days from the date on which the Relevant Equity Interest is reached.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>21</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - If the OPA is legally subject to registration with the CVM, the New Relevant Shareholder shall request its registration within ten (10) business days, counted from the date of the presentation, by the institution or specialized company, of the appraisal report that must be prepared within thirty (30) days from the date on which the Relevant Equity Interest is reached, and will be obliged to comply with any requests or CVM requirements related to the OPA, within the prescribed time limits in the applicable regulations. The publication of the notice for the OPA must take place within </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">five (5) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">business days, counted from the date of registration of the OPA by CVM, if applicable.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The OPA requirement does not apply to the shareholder or Group of Shareholders who reach the Relevant Equity Interest:</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<ol type="I" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; line-height: 150%; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by means of a public offer for the acquisition of all the shares issued by the Company, provided that a price at least equivalent to the Tender Offer Price has been paid;</font></li>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<ol start="2" type="I" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; line-height: 150%; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by subscription of shares made in a primary offer, due to the fact that the amount was not fully subscribed by those who had preemptive rights or that did not have a sufficient number of interested parties in the respective public distribution, provided that the issue price is calculated in accordance with applicable legislation is equal to or higher than the Tender Offer </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price;</font></li>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<ol start="3" type="I" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; line-height: 150%; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a result of corporate restructuring within the same economic group, including, without limitation, the assignment and/or transfer of shares issued by the Company between parent and subsidiary companies or companies under common control;</font></li>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<ol start="4" type="I" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; line-height: 150%; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as a result of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">: (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) advance payment of the lawful inheritance, donation or hereditary succession, provided that for the descendant or spouse of a shareholder or Group of Shareholders holding a Relevant Equity Interest; or (ii) transfer to trust or any other entity, having as a beneficiary, directly or indirectly, the shareholder or Group of Shareholders holding a Relevant Equity Interest, their descendants or their spouse; and</font></li>
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<ol start="5" type="I" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'Times New Roman'; font-size: 12pt; line-height: 150%; list-style-position: inside; margin: 0pt; text-align: justify; text-indent: 0pt;"><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as a result of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the cancellation or redemption of shares.</font></li>
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<p style="margin: 0pt 0pt 0pt 36pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>22</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The execution of the OPA may be waived by an affirmative vote of shareholders gathered in a Shareholders&#8217; Meeting specially held for this purpose, provided that it is approved by sixty </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">percent&nbsp; (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">60%) of the members of the Company's Board of Directors, observing the following rules:</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">I. </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Shareholders&#8217; Meeting, if installed on the first call, must have the presence of shareholders representing at least twenty-five percent (25%) of the voting capital and twenty percent (20%) of the total outstanding shares of the Company and, if installed on second call, may count on the presence of any number of shareholders;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">II. the exemption of the realization of the OPA will be considered approved with the vote of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the absolute majority of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the votes of the shareholders present at that General Meeting, whether on first or second call; and</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">III. the New Relevant Shareholder, as well as the other shareholders who, perhaps, have with him/her an agreement to dispose of their equity interest, will not be able to vote, and their respective shares will not be counted in the deliberation quorum.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The realization of the OPA will not exclude the possibility of another shareholder of the Company, or, if applicable, the Company itself, conducting a competing tender offer, under the terms of the applicable regulation.</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 13</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The provisions of this article do not apply (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) to shareholders (and their respective successors) who hold, directly or indirectly, on January 22, 2021, equal or greater participation than the Relevant Equity Interest (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">Excepted Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221;), (ii) to those shareholders who form a Group of Shareholders with the Excepted Shareholders, while forming a Group of Shareholders, as well as (iii) to shareholders holding an interest equal to or greater than the Relevant Equity Interest through shareholder agreements, provided that such agreements are filed at the Company's headquarters on January 22, 2021.</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'>23</font></font></td>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph 14</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - For the purposes of these Bylaws, the following terms beginning in capital letters shall have the following meanings:</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Group of Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221; means the group of people: (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) bound by contracts or agreements of any nature, including shareholders' agreements, oral or written, either directly or through controlled, controlling or jointly controlled companies; or (ii) among which there is a control relationship; or (iii) under common control; or (iv) acting together; or (v) that act representing a common interest. Examples of people representing a common interest include: (vi) a person holding, directly or indirectly, an equity interest equal to or greater than ten percent (10%) of the other person's share capital; and (vii) two (2) or more persons who have a common investor who holds, directly or indirectly, an equity interest equal to or greater than ten percent (10%) of the capital of each of the two&nbsp; (2) or more people in question. Any joint ventures, investment funds or clubs, foundations, associations, trusts, condominiums, cooperatives, securities portfolios, universal rights, or any other forms of organization or enterprise, incorporated in Brazil or abroad, will be considered part of a same Group of Shareholders, whenever two (2) or more between such entities; (viii) are administered or managed by the same legal entity </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or by parties related to the same legal entity; or (ix) have in common the majority of their administrators, managers or investment committees (which guide the decisions made by managers and/or administrators), being certain that in the case of investment funds with administrators, managers or investment committees (that guide the decisions taken by the managers and/or administrators) in common, will only be considered as members of a Group of Shareholders those whose decision on the exercise of votes at Shareholders&#8217; Meetings, under the terms of the respective regulations, is considered as the responsibility of the administrator (who guides the decisions made by managers and/or administrators), on a discretionary basis;</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Other Rights of a Corporate Nature</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221; means (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) usufruct over the shares issued by the Company; (ii) any options or rights to purchase, subscribe or exchange, in any capacity, that may result in the acquisition of shares issued by the Company; (iii) any derivatives referenced to shares issued by the Company that provide for the possibility of settlement not exclusively financial; or (iv) any other rights that permanently or temporarily assure shareholder political or equity rights over shares issued by the Company. It is observed that (a) the shares directly held and those referenced by physical settlement derivative financial instruments will be considered together for the purpose of verifying the percentage referred to in the caput of this article and (b) the number of shares referenced in derivative instruments that confer economic exposure to shares cannot be compensated by the number of shares referenced in derivative instruments that produce inverse economic effects.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER IX</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">LIQUIDATION</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 38</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company may not </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">enter into</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> liquidation or dissolution except in the cases provided by law. The Shareholders&#8217; Meeting shall establish the liquidation procedure, as well as appoint the liquidators and the members of the Fiscal Council that shall operate during the liquidation period, establishing their powers and compensation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.&nbsp;</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER X</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">ARBITRATION</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 39</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-variant: small-caps;"> - </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Company, its shareholders, managers, sitting and alternate members of the Fiscal Council, if any, shall undertake to solve, by means of arbitration, before the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Market Arbitration Panel, as provided for in its rules, any and all dispute or controversy which may arise among them, relating to or arising from their condition as issuer, shareholders, managers and members of the Fiscal Council, especially those deriving from provisions set forth in the Brazilian Corporation Law, in Law No. 6,385/76, in the Company&#180;s Bylaws, in the rules published by the National Monetary Council, by the Brazilian Central Bank and by the CVM, as well as in the other rules applicable to the operation of the capital markets in general, besides those included in the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules, other rules of</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> B3 and the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Listing Agreement.</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">CHAPTER XI</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; text-decoration: underline;">GENERAL PROVISIONS</font></p>
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<p style="font-size: 12pt; line-height: 150%; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Article 40</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> - The terms defined herein whose meaning is not expressly defined herein or in the Brazilian Corporation Law shall have the meaning attributed thereto by the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Novo Mercado</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.&nbsp;</font></p>
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<DESCRIPTION>EXHIBIT 2.5
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<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">COSAN LIMITED,</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">s</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> Company</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">U.S. BANK NATIONAL ASSOCIATION,</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt;">as Trustee, Principal Paying Agent, Registrar and Transfer Agent</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">____________________</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">FIRST SUPPLEMENTAL INDENTURE</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Dated as of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">February 18</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, 202</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">1</font></p>
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<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">5.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">500</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">% Senior Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;"> </font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Due </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">September 20, </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">2029</font></p>
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<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">FIRST SUPPLEMENTAL INDENTURE (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;), dated as of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">February 18, 2021</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, between COSAN LIMITED, a limited liability exempted company organized under the laws of Bermuda (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, Cosan S.A., a </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">sociedade an&#244;nima</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (corporation) organized and validly existing under the laws of the Federative Republic of Brazil, as the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Successor Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Successor Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> and U.S. Bank National Association, as trustee, principal paying agent, registrar and transfer agent (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;).&nbsp;</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">W I T N E S S E T H:</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, the Company and the Trustee are parties to the Indenture dated as of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">July 31, 2019</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;), relating to the Company&#8217;s 5.950% senior notes due September 20, 202</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;);</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, Section 9.02 of the Indenture permits the Company and the Trustee, together, to amend or supplement the Indenture for the purposes set forth herein with</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> the consent of Holders;</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">o</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">n </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or about </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">January 22, 2021</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, the</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">will merge (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Merger</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">with and into</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Successor</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">y</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">T</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">he Successor</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">y</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> will be the continuing </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">following the Merger</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> and </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Successor Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> has agreed to </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">expressly assume by </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Supplemental Indenture all of the obligations of the Company under the Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> and the Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">;</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, the Trustee has received an Officers&#8217; Certificate from the Company in accordance with Section</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">s 5(a)(iv) and</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> 10.03 of the Indenture and an Opinion of Counsel in accordance with Sections </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">5(a)(iv),&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">9.04 and 10.03 of the Indenture;</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, each of the conditions in the Indenture necessary to give effect to the amendments set forth herein have been satisfied;&nbsp;</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Trustee hereby agree as follows:</font></p>
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<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 1.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Definitions</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Indenture.&nbsp;&nbsp; All definitions in the Indenture shall be read in a manner consistent with the terms of this Supplemental Indenture.</font></h2>
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<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 2.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Assumption of Obligations</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Successor Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> hereby assumes all of the Company&#8217;s obligations under the Indenture and the Notes including, but not limited to, the due and punctual payment of principal of and premium, if any, and interest and Additional Amounts, if any, on the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> in accordance with the terms of the the Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> and the Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.</font></h2>
<h1 style="font-size: 11pt; font-weight: normal; line-height: 115%; margin: 0pt 0pt 12pt; page-break-after: avoid; page-break-inside: avoid; text-align: center; text-indent: 0pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; text-transform: uppercase; vertical-align: baseline;">Article 3</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-variant: small-caps;">Ratification of Other Terms and Conditions of the Indenture</font></h1>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 3.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Indenture to remain in effect</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; Except as expressly modified herein, the Indenture shall continue in full force and effect in accordance with its terms.&nbsp; Upon the execution of this Supplemental Indenture, the Indenture, the Notes shall be deemed to be modified and amended in accordance with this Supplemental Indenture and each reference in the Indenture to &#8220;this Indenture,&#8221; &#8220;hereunder,&#8221; &#8220;hereof,&#8221; or &#8220;herein&#8221; shall mean and be a reference to the Indenture as supplemented and amended hereby, unless the context otherwise requires, and all the terms and conditions of this Supplemental Indenture shall be and be deemed to be part of the terms and conditions of the Indenture for any and all purposes.</font></h2>
<h1 style="font-size: 11pt; font-weight: normal; line-height: 115%; margin: 0pt 0pt 12pt; page-break-after: avoid; page-break-inside: avoid; text-align: center; text-indent: 0pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; text-transform: uppercase; vertical-align: baseline;">Article 4</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-variant: small-caps;">Miscellaneous</font></h1>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Provisions of Indenture and Notes for the Sole Benefit of Parties and Holders of Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; Nothing in this Supplemental Indenture or the Notes, expressed or implied, shall give to any </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other than the parties hereto and their successors hereunder and the Holders any benefit or any legal or equitable right, remedy or claim under this Supplemental Indenture or the Notes.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.02.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">No Recourse Against Others</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; No director, officer, employee or shareholder, as such, of the Company, the Trustee or the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Principal Paying Agent</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> shall have any liability for any obligations of the Company or the Trustee respectively, under the Indenture or the Notes or for any claim based on, in respect of or by reason of such obligations or their creation.&nbsp; By accepting a Note, each Holder is deemed to have waived and released all such liability. The waiver and release was deemed be part of the consideration for the issue of Notes.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.03.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Governing Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; THIS SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.04.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Submission to Jurisdiction; Agent for Service; Waiver of Immunities</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(a) By the execution and delivery of this </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Supplemental </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Indenture, the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Successor Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (i) acknowledges that it hereby designates and appoints Cogency Global Inc. </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Authorized Agent</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;) located at </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">122 East 42nd Street, 18th Floor New York, NY 10168</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, as its authorized agent upon which process may be served in any suit, action or proceeding with respect to, arising out of, or relating to, the Notes or th</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">e</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> Indenture, that may be instituted in any Federal or state court in the State of New York, The City of New York, the Borough of Manhattan, or brought under Federal or state securities laws or brought by the Trustee (whether in its individual capacity or in its capacity as Trustee hereunder), and acknowledges that the Authorized Agent has accepted such designation.</font></h2>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h3 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 32.81pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The parties hereto ratify the provisions of Section 10.07 of the Indenture with respect to this Supplemental Indenture, as if such provisions were set forth in their entirety herein.&nbsp;</font></h3>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.05.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Successors</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; All agreements of the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Successor Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> hereunder and</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> the Indenture and the Notes will bind </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> successors. All agreements of the Trustee in the Indenture will bind its successor.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.06.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Duplicate Originals</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; The parties may sign any number of copies of this Supplemental Indenture.&nbsp; Each signed copy shall be an original, but all of them together represent the same agreement.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The words &#8220;execution,&#8221; &#8220;signed,&#8221; &#8220;signature,&#8221; and words of like import in this Supplemental Indenture shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, &#8220;pdf,&#8221; &#8220;tif&#8221; or &#8220;jpg&#8221;) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.07.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Separability</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; In case any provision in this Supplemental Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.08.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">No Liability of the Trustee</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture, or the Notes or for or in respect of the recitals contained herein, all of which are made solely by the Company.</font></h2>
<p style="margin: 0pt 0pt 12pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">[Remainder of Page Intentionally Blank &#8211; Signature Page Follows]</font></p>
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<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first written above.</font></p>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">COSAN LIMITED</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt;">as the Company</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Marcelo Eduardo Martins</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Marcelo Eduardo Martins</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">CFO</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ Luis H</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">enrique </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">G</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">uimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Luis H</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">enrique </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">G</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">uimar&#227;es</font></p>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">COSAN S.A.</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt;">as the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Successor Company</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Marcelo Eduardo Martins</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Marcelo Eduardo Martins</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">CFO</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ Luis H</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">enrique </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">G</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">uimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Luis H</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">enrique </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">G</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">uimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">CEO</font></p>
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<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first written above.&nbsp;</font></p>
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<p style="margin: 0pt 0pt 24pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">U.S. BANK NATIONAL ASSOCIATION</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt;">as Trustee, Principal Paying Agent, Registrar and Transfer Agent</font></p>
<p style="margin: 0pt 0pt 24pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">By: U.S. Bank National Association</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ Michelle Mena-Rosado</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Michelle Mena-Rosado</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Vice President</font></p>
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<DOCUMENT>
<TYPE>EX-2.6
<SEQUENCE>13
<FILENAME>ex26_3.htm
<DESCRIPTION>EXHIBIT 2.6
<TEXT>
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<p style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';"><font style="font-weight: bold;"><font style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';">EXHIBIT 2.6</font></font></p>
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<p style="border-top-color: #000000; border-top-style: double; border-top-width: 1.5pt; margin: 0pt; padding-top: 1pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">COSAN S.A.,</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">as Company</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">U.S. BANK </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">TRUST COMPANY, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">NATIONAL ASSOCIATION,</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt;">as Trustee, Principal Paying Agent, Registrar and Transfer Agent</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">____________________</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">SECOND SUPPLEMENTAL INDENTURE</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Dated as of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">May 2, 2022</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">____________________</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">5.500% Senior Notes </font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Due September 20, 2029</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">SECOND SUPPLEMENTAL INDENTURE</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (the &#8220;Second Supplemental Indenture&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, dated as of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">May 2, 2022</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, between </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan S.A., a </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">sociedade an&#244;nima</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (corporation) organized and validly existing under the laws of the Federative Republic of Brazil (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">U.S. Bank </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Trust Company, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">National Association</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, as trustee</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, principal paying agent, registrar and transfer agent</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Trustee</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;).&nbsp;</font></p>
<p style="margin: 0pt 0pt 12pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">W I T N E S S E T H:</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, the Company and the Trustee are parties to the Indenture dated as of July 31, 2019, as supplemented </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by a s</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">upplemental </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">ndenture dated February 18, 2021 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">together, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, relating to the Company&#8217;s 5.500% senior notes due September 20, 2029 (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">;</font></p>
<p style="margin: 0pt 2pt 12pt 0pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, Section 9.02 of the Indenture permits the Company and the Trustee, together, to amend or supplement the Indenture for the purposes set forth herein with the consent of Holders;</font></p>
<p style="margin: 0pt 2pt 12pt 0pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, the Company has solicited consents from the Holders of the Notes to </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a certain proposed amendment</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Proposed Amendment</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;), pursuant to the terms and subject to the conditions set forth in the Consent Solicitation Statement, dated </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">April 25</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">2022 </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Consent Solicitation</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">);</font></p>
<p style="margin: 0pt 2pt 12pt 0pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, the Company has obtained the requisite consents to the Proposed Amendment to the Indenture set forth in this </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">;</font></p>
<p style="margin: 0pt 2pt 12pt 0pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, the Trustee has received an Officers&#8217; Certificate of the Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> in accordance with Section</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">s</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">9.04, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">10.03 </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and 10.04 </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of the Indenture and </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">an Opinion of Counsel in accordance with Section</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">s </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">9.04, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">10.03 </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and 10.04 </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of the Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">;</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WHEREAS, each of the conditions in the Indenture necessary to give effect to the amendments set forth herein have been satisfied;</font></p>
<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Trustee hereby agree as follows:</font></p>
<h1 style="font-size: 11pt; font-weight: normal; line-height: 115%; margin: 0pt 0pt 12pt; page-break-after: avoid; page-break-inside: avoid; text-align: center; text-indent: 0pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; text-transform: uppercase; vertical-align: baseline;">Article 1</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-variant: small-caps;">Definitions and Other Provisions of General Application</font></h1>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 1.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Definitions</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Indenture. All definitions in the Indenture shall be read in a manner consistent with the terms of this Supplemental Indenture.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 1.02.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Headings</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. The headings of the sections herein have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof.</font></h2>
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<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 2.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Insertion of </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Issuer Substitution Provisions</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">. </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The following </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">p</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">rovisions </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">shall be added </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">as </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Article 11, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">11.01</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> of the Indenture, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">as follows</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">:</font></h2>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">ARTICLE 11</font></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">SUBSTITUTION OF THE ISSUER</font></p>
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<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section 11.01. </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Substitution of the Issuer</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; The Issuer may, without the consent of any Holder of the Notes, be replaced and substituted by any direct or indirect Substantially Wholly-Owned Subsidiary as principal debtor in respect of the Notes (in that capacity, the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Substituted Issuer</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;); provided that the following conditions are satisfied:</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">such documents shall be executed by the Substituted Issuer, the Issuer and the Trustee as may be necessary to give full effect to the substitution, including a supplemental indenture under which the Substituted Issuer assumes all of the Issuer&#8217;s obligations under this Indenture and the Notes (the &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Issuer Substitution Documents</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;); and pursuant to which the Substituted Issuer shall undertake in favor of each Holder, the Trustee and the Agents to be bound by the terms and conditions of the Notes and the provisions of this Indenture as fully as if the Substituted Issuer had been named in the Notes and herein as the principal debtor in respect of the Notes in place of the Issuer (or any previous substitute) and pursuant to which </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan S.A.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> shall unconditionally and irrevocably guarantee in favor of each Holder the payment of all sums payable by the Substituted Issuer as </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> principal debtor</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> in respect of the Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> on the same terms mutatis mutandis as the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Substituted </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Issuer; provided, that all references to the &#8220;Company&#8221; in the Indenture, including in the covenants and Events of Default, shall continue to be references to Cosan S.A. and shall continue to apply to Cosan S.A., it being the intent that the rights of Holders in respect of the Notes shall be unaffected by such substitution;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">if the Substituted Issuer is organized in a jurisdiction other than Brazil, the Issuer Substitution Documents will contain covenants (i) to ensure that each Holder of Notes has the benefit of a covenant in terms corresponding to the obligations of the Issuer, in respect of the payment of Additional Amounts; and (ii) to indemnify the Holder of Notes against all taxes or duties that arise by reason of a law or regulation in effect on the effective date of the substitution that are incurred or levied against such Holder in Brazil as a result of the substitution and that would not have been so incurred or levied had the substitution not been made;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Issuer shall have promptly delivered, or procured the prompt delivery, to the Trustee of a legal opinion from a firm of lawyers in the country of incorporation of the Substituted Issuer, to the effect that the Issuer Substitution Documents constitute legal, valid and binding obligations of the Substituted Issuer;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Issuer shall have promptly delivered, or procured the prompt delivery, to the Trustee of a legal opinion from a firm of Brazilian lawyers acting for the Issuer to the effect that the Issuer Substitution Documents constitute legal, valid and binding obligations of the Issuer;</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Issuer shall have promptly delivered, or procured the prompt delivery, to the Trustee of a legal opinion from a firm of New York lawyers to the effect that the Issuer Substitution Documents constitute legal, valid and binding obligations of the parties thereto under New York law;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(f)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Substituted Issuer shall have appointed a process agent in the Borough of Manhattan, the City of New York to receive service of process on its behalf in relation to any legal action or proceedings arising out of or in connection with the Notes or the Issuer Substitution Documents;&nbsp;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(g)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Issuer has confirmed that </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any credit rating assigned to the Notes will remain the same or be improved when the Substituted Issuer replaces and substitutes the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Issuer in respect of the Notes;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(h)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">no Event of Default has occurred or is continuing in respect of the Notes;</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the substitution shall comply with all applicable requirements under the laws of the jurisdiction of organization of the Substituted Issuer and Brazil; and</font></p>
<p style="margin: 0pt 9.35pt 10pt 45.35pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;">(j)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">if a Substantially Wholly-Owned Subsidiary becomes the Substituted Issuer, it agrees to be subject to the following limitations and restrictions:</font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(1) </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The Substituted Issuer shall not engage in any business except for (i) the issuance, sale, redemption, repurchase or defeasance of the Notes, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">A</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">dditional Notes and any other Debt</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">not otherwise prohibited for </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan S.A.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> by this Indenture and any activities incidentally related thereto; </font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(ii) the entering into Affiliate loans and cash management transactions, including&nbsp; import and export financing transactions and any activities reasonably related thereto; (iii) </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the entering into Hedging Agreements for the purpose of limiting risks associated with the business of the Substituted Issuer and not for speculation; and (iv) as required by law;</font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(2)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The Substituted Issuer shall not create, assume, Incur or suffer to exist any Lien </font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">upon any properties or assets whatsoever, except for any liens p</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">ermitted under Section 4.09; </font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(3) </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The Substituted Issuer shall not enter into any consolidation, merger, amalgamation, or other form of combination with any Person except for a Substantially Wholly-Owned Restricted Subsidiary that assumes the obligations under the Notes and this Indenture (to the extent the Substituted Issu</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">er is not the surviving entity); and</font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(4) </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan S.A. will own, at all times, directly or indirectly, at least 75% of the Voting Stock of the Substituted Issuer. </font></p>
<p style="margin: 0pt 9.35pt 0pt 81.35pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Upon the execution of the Issuer Substitution Documents as referred to in paragraph (1) above, the Substituted Issuer shall be deemed to be named in the Notes as the principal debtor in place of the Issuer (or of any previous substitute under these provisions) and the Notes shall thereupon be deemed to be amended to give effect to the substitution. The execution of the Issuer Substitution Documents shall operate to release the Issuer (or such previous substitute as aforesaid) from all its obligations in respect of the Notes and this Indenture, including its obligation to indemnify the Trustee and Agents under this Indenture (other than </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">that </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan S.A.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> when replaced </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">as Issuer</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> will become a guarantor in respect of the Notes and the covenants and Events of Default shall continue to apply to Cosan S.A.).</font></p>
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<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">The Issuer Substitution Documents shall be deposited with and held by the Trustee for so long as any Note remains outstanding and for so long as any claim made against the Substituted Issuer or the Issuer by any Holder in relation to the Notes or the Issuer Substitution Documents shall not have been finally adjudicated, settled or discharged.&nbsp; </font></p>
<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Not later than 10 Business Days after the execution of the Issuer Substitution Documents, the Substituted Issuer shall give notice thereof to the Holders in accordance with the provisions described herein.</font></p>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 2.02.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Insertion of Certain Additional Definitions. </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The following definitions shall be added to Section 1.01 of the Indenture, inserted in alphabetical order:</font></h2>
<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Issuer Substitution Documents</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; has the meaning assigned to such term in Section 11.01(a).</font></p>
<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Substituted Issuer</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; has the meaning assigned to such term in Section 11.01.</font></p>
<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Substantially Wholly-Owned</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, with respect to any Subsidiary, a Subsidiary at least 90% of the outstanding Capital Stock of which (other than director&#8217;s or other similar qualifying shares) is owned by Cosan S.A. (or its successors pursuant to Article 5(a)) or one or more Wholly-Owned Subsidiaries (or a combination thereof) of Cosan S.A. (or its successors pursuant to Article 5(a)).</font></p>
<p style="margin: 0.05pt 9.5pt 12pt 45pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Wholly-Owned</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, with respect to any Subsidiary, a Subsidiary all of the outstanding Capital Stock of which (other than any director&#8217;s or other similar qualifying shares) is owned by Cosan S.A. (or its successors pursuant to Article 5(a)).</font></p>
<h1 style="font-size: 11pt; font-weight: normal; line-height: 115%; margin: 0pt 0pt 12pt; page-break-after: avoid; page-break-inside: avoid; text-align: center; text-indent: 0pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; text-transform: uppercase; vertical-align: baseline;">Article 3</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-variant: small-caps;">Ratification of Other Terms and Conditions of the Indenture</font></h1>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 3.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Indenture to remain in effect</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; Except as expressly modified herein, the Indenture shall continue in full force and effect in accordance with its terms.&nbsp; Upon the execution of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, the Indenture and </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the Notes shall be deemed to be modified and amended in accordance with </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> and each reference in the Indenture to &#8220;this Indenture,&#8221; &#8220;hereunder,&#8221; &#8220;hereof,&#8221; or &#8220;herein&#8221; shall mean and be a reference to the Indenture as supplemented and amended hereby, unless the context otherwise requires, and all the terms and conditions of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> shall be and be deemed to be part of the terms and conditions of the Indenture for any and all purposes.</font></h2>
<h1 style="font-size: 11pt; font-weight: normal; line-height: 115%; margin: 0pt 0pt 12pt; page-break-after: avoid; page-break-inside: avoid; text-align: center; text-indent: 0pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; text-transform: uppercase; vertical-align: baseline;">Article 4</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt; font-variant: small-caps;">Miscellaneous</font></h1>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.01.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Provisions of Indenture and Notes for the Sole Benefit of Parties and Holders of Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; Nothing in </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> or the Notes, expressed or </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">implied, shall give to any entity other than the parties hereto and their successors hereunder and the Holders any benefit or any legal or equitable right, remedy or claim under </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> or the Notes.</font></h2>
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<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.02.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">No Recourse Against Others</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; No director, officer, employee or shareholder, as such, of the Company, the Trustee or the Principal Paying Agent shall have any liability for any obligations of the Company or the Trustee respectively, under the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Second Supplemental Indenture, the </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Indenture or the Notes or for any claim based on, in respect of or by reason of such obligations or their creation.&nbsp; By accepting a Note, each Holder is deemed to have waived and released all such liability. The waiver and release was deemed be part of the consideration for the issue of Notes.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.03.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Governing Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">THIS SECOND SUPPLEMENTAL INDENTURE</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, TH</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">E LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.04.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Submission to Jurisdiction; Agent for Service; Waiver of Immunities</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. (a) By the execution and delivery of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, the Company (i) acknowledges that it hereby designates and appoints Cogency Global Inc. the (&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Authorized Agent</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;) located at 122 East 42nd Street, 18th Floor New York, NY 10168, as its authorized agent upon which process may be served in any suit, action or proceeding with respect to, arising out of, or relating to, the Notes or the Indenture, that may be instituted in any Federal or state court in the State of New York, The City of New York, the Borough of Manhattan, or brought under Federal or state securities laws or brought by the Trustee (whether in its individual capacity or in its capacity as Trustee hereunder), and acknowledges that the Authorized Agen</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">t has accepted such designation</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(b) </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">T</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">he parties hereto ratify the provisions of Section 10.07 of the Indenture with respect to </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, as if such provisions were set forth in their entirety herein.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.05.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Successors</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; All agreements of the Company hereunder and under the Indenture and the Notes will bind its successors. All agreements of the Trustee in the Indenture will bind its successor.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.06.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Duplicate Originals</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; The parties may sign any number of copies of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; Each signed copy shall be an original, but all of them together represent the same agreement.&nbsp; The words &#8220;execution,&#8221; &#8220;signed,&#8221; &#8220;signature,&#8221; and words of like import in </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation, &#8220;pdf,&#8221; &#8220;tif&#8221; or &#8220;jpg&#8221;) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.</font></h2>
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<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.07.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Separability</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; In case any provision in </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> or in the Notes</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, or any portion thereof,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, or any portions thereof,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> will not in any way be affected or impaired thereby.</font></h2>
<h2 style="font-weight: normal; margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="display: inline; font-family: 'Times New Roman'; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; text-transform: none; vertical-align: baseline;">Section 4.08.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">No Liability of the Trustee</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.&nbsp; The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this Second Supplemental Indenture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, or the Notes or for or in respect of the recitals contained herein, all of which are made solely by the Company.&nbsp;</font></h2>
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<p style="margin: 0pt 0pt 12pt; text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">IN WITNESS WHEREOF, </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the parties hereto have caused this</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Second Supplemental </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Indenture </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to be duly executed as of the date first written above</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">.</font></p>
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<p style="margin: 0pt 0pt 24pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">COSAN S.A.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Luis Henrique Cals de Beauclair Guimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Luis Henrique Cals de Beauclair Guimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">CEO</font></p>
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<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ricardo Lewin</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ricardo Lewin&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:&nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">CFO and Investor Relations Officer</font></p>
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<p style="margin: 0pt 0pt 12pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">U.S. BANK </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">TRUST COMPANY, </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">NATIONAL ASSOCIATION</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, as Trustee</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Michelle Mena-Rosado</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Michelle Mena-Rosado&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; Vice President</font></p>
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<DOCUMENT>
<TYPE>EX-2.7
<SEQUENCE>14
<FILENAME>ex27_4.htm
<DESCRIPTION>EXHIBIT 2.7
<TEXT>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Exhibit 2.</font><font style="font-weight: bold;">7</font></font></p>
<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="color: #000000;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 10pt 0pt; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; page-break-after: avoid;">DESCRIPTION OF THE REGISTRANT&#8217;S SECURITIES</font></font></font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">REGISTERED PURSUANT TO SECTION 12 OF THE</font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold; text-decoration: underline;">Description of </font><font style="font-weight: bold; text-decoration: underline;">Common Shares</font></font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">General</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We are a corporation (<font style="font-style: italic;">sociedade an&#244;nima</font>) of indefinite term incorporated under the laws of Brazil, having our registered office in the city of S&#227;o Paulo, state of S&#227;o Paulo, at Avenida Brigadeiro Faria Lima, 4,100 &#8211; 16th floor, room 1, ZIP Code 04538-132, Brazil, enrolled with the Brazilian taxpayers&#8217; registry (<font style="font-style: italic;">Cadastro Nacional de Pessoas Jur&#237;dicas &#8212; CNPJ</font>) under No. 50.746.577/0001-15. We were incorporated on July 8, 1966. We are governed by the laws of Brazil, as well as by our by-laws.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following description of our capital stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our by-laws, which are included as an exhibit to our annual report on Form 20-F for the fiscal year ended December 31, 2021 (the &#8220;Annual Report on Form 20-F&#8221;), as well as to the legislation and regulations applicable to companies and the Brazilian capital market currently in effect. We encourage you to read the by-laws for additional information. Capitalized terms used and not defined hereinafter shall have the meanings ascribed to them throughout the Annual Report on Form 20-F.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Capital Stock</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As per Article 5 of our by-laws, the capital stock of Cosan, fully subscribed and paid in, is of R$8,402,543,550.97, divided into 1,874,070,932 registered common shares, with no par value. The capital stock of Cosan will be represented solely by common shares, and each common share will be entitled to one vote on the resolutions to be adopted by the shareholders.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cosan is authorized to increase its capital stock, regardless of an amendment to our by-laws, in up to nine billion <font style="font-style: italic;">reais </font>(R$9,000,000,000.00), upon a resolution of its board of directors, which will establish the terms of issuance, including the price and payment. The board of directors may also approve the issuance of warrants (<font style="font-style: italic;">bonus de subscri&#231;&#227;o</font>) and convertible debentures, as well as capitalization of profits of reserves, whether or not by issuing bonus shares, within the limits of the authorized capital.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The board of directors of Cosan may grant stock purchase or subscription options, under the plan or programs approved at the shareholders&#8217; meeting, to the managers and employees of Cosan, as well as to managers and employees of other companies directly or indirectly controlled by Cosan, without preemptive rights to the shareholders at the time of either grant or exercise of such options, subject to the balance of the authorized capital limit at the time of exercise of subscription options, analyzed together with the balance of treasury shares at the time of exercise of purchase options.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Corporate Purpose</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As per Article 3 of the our by-laws, our corporate purposes are to (1) import, export, produce and trade sugar, ethanol, sugarcane, and other sugar byproducts; (2)<font style="font-weight: bold;">&nbsp;</font>distribute fuels in general and trade oil byproducts; (3)<font style="font-weight: bold;">&nbsp;</font>establish fuel supply stations, purchase and sell oil-derived fuels and lubricants; (4)<font style="font-weight: bold;">&nbsp;</font>provide logistics and port services, as well as technical, administrative and financial advisory services; (5)<font style="font-weight: bold;">&nbsp;</font>any type of transportation of passengers and cargo, including inland navigation, river and lake ferries; (6)<font style="font-weight: bold;">&nbsp;</font>produce and trade electricity, live steam, steam escape and other electricity co-generation byproducts; (7)<font style="font-weight: bold;">&nbsp;</font>farming and livestock activities in proprietary or third-party-owned lands; (8) import, export, handle, trade, produce, store, load or unload fertilizers and other agricultural inputs; (9)&nbsp;manage on its own account or through third parties assets and property and may lease, receive and grant in partnership, rent and lease furnishings, properties and equipment in general; (10) render technical services related to the activities mentioned above; (11) hold equity interest in other companies; and (12) processing and trading of fuel gases.</font></p>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The development of activities by the companies that Cosan holds direct or indirect interest in any type considers the following factors: (1) the short- and long-term interests of Cosan and its shareholders, and (2) the short and long-term economic, social, environmental and legal effects on its employees, suppliers, partners, clients and other creditors, as well as on the communities in which Cosan operates, both locally and globally.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Dividends</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our by-laws require that we distribute annually to our shareholders a mandatory minimum dividend, which we refer to as the mandatory dividend, equal to at least 25% of our net income after taxes, after certain deductions, including accumulated losses and any amounts allocated to employee and management participation, any amount allocated to our legal reserve, any amount allocated to our special reserve, any amount allocated to the contingency reserve and any amount written off with respect to the contingency reserve accumulated in previous fiscal years, in each case in accordance with Brazilian law.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">However, the Brazilian Corporation Law permits a company to suspend the mandatory distribution of dividends if its board of directors reports to the shareholders&#8217; meeting that the distribution would be incompatible with the financial condition of the company, subject to approval by the shareholders&#8217; meeting and review by the fiscal council. In addition, our management must submit a report to the CVM clarifying the reasoning for any such non-payment. Net income not distributed due to such a suspension must be attributed to a separate reserve and, if not absorbed by subsequent losses, must be paid as dividends as soon as the financial situation of the company permits.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The amounts available for distribution are determined on the basis of financial statements prepared in accordance with the requirements of the Brazilian Corporation Law. In addition, amounts arising from tax incentive benefits or rebates are appropriated to a separate capital reserve in accordance with the Brazilian Corporation Law. This investment incentive reserve is not normally available for distribution, although it can be used to absorb losses under certain circumstances, or be capitalized. Amounts appropriated to this reserve are not available for distribution as dividends.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian Corporation Law permits a company to pay interim dividends out of preexisting and accumulated profits for the preceding fiscal year or semester, based on financial statements approved by its shareholders. We may prepare financial statements semiannually or for shorter periods. Our board of directors may declare a distribution of dividends based on the profits reported in semiannual financial statements. Our board of directors may also declare a distribution of interim dividends or interest based on profits previously accumulated or in profits reserve, which are reported in such financial statements or in the last annual financial statement approved by resolution taken at a shareholders&#8217; meeting. The board of directors may also declare dividends based on financial statements prepared for interim periods; <font style="font-style: italic;">provided</font> that the total amount of dividends paid in each semester does not exceed the amounts accounted for in our capital reserve account set forth in paragraph 1 of Article 182 of the Brazilian Corporation Law and any dividends that fail to be claimed within a period of three (3) years will revert to Cosan.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In general, Non-Resident Holders must register their equity investment with the Brazilian Central Bank to have dividends, sales proceeds or other amounts with respect to their shares eligible to be remitted outside of Brazil. The common shares underlying the Cosan ADSs are held in Brazil by the custodian, as agent for the Depositary, which is the registered owner on the records of the registrar for our shares.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payments of cash dividends and distributions, if any, are made in <font style="font-style: italic;">reais </font>to the custodian on behalf of the Depositary, which then converts such proceeds into U.S. Dollars and causes such U.S. Dollars to be delivered to the Depositary for distribution to holders of Cosan ADSs. In the event that the custodian is unable to convert immediately the foreign currency received as dividends into U.S. dollars, the amount of U.S. dollars payable to holders of Cosan ADSs may be adversely affected by devaluations of the Brazilian currency that occur before the dividends are converted. Under the Brazilian Corporation Law, dividends paid to Non-Resident Holders will not be subject to Brazilian withholding tax; however, it is not clear under Brazilian law whether such withholding income tax exemption is also applicable to dividends distributed to holders of Cosan ADSs abroad.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazilian law allows the payment of dividends solely in <font style="font-style: italic;">reais</font>, limited to the unappropriated retained earnings in our financial statements prepared in accordance with IFRS.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Rights of Holders of Common Shares</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Each of our common shares entitles its holder to one vote per common share at our annual or extraordinary general shareholders&#8217; meetings (<font style="font-style: italic;">assembleia geral ordin&#225;ria or assembleia geral extraordin&#225;ria</font>). Pursuant to our by-laws and its B3 listing agreement in connection with the listing of the common shares on the <font style="font-style: italic;">Novo Mercado</font>, we cannot issue shares without voting rights or with restricted voting rights. As long as we are listed on the <font style="font-style: italic;">Novo Mercado</font>, we may not issue preferred shares. In addition, our by-laws and the Brazilian Corporation Law provide that holders of common shares of Cosan are entitled to dividends or other distributions made in respect of common shares of Cosan in accordance with their respective participation in Cosan&#8217;s capital. See &#8220;&#8212;Dividends.&#8221; In addition, in the event of our liquidation and following the payment of all our outstanding liabilities, holders of common shares of Cosan are entitled to receive their pro rata<font style="font-style: italic;"> </font>interest in any remaining assets, in accordance with their respective participation in our capital. The shareholders have preemptive rights to subscribe for new shares issued by us, pursuant to the Brazilian Corporation Law, but are not obligated to subscribe for future capital increases.</font></p>
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<p style="text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><br></font></p>
<p style="text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Novo Mercado Rules and the Brazilian Corporation Law, common shares of Cosan have tag-along rights which enable their holders, upon the sale of a controlling interest in us, to receive in exchange for their shares 100% of the price paid per common share for the controlling block.</font></p>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, neither our by-laws nor actions taken at a shareholders&#8217; meeting may deprive a shareholder of: (1) the right to participate in the distribution of net income; (2)&nbsp;the right to participate equally and proportionally in any residual assets in the event of liquidation of our company; (3) preemptive rights in the event of issuance of new shares, convertible debentures or subscription warrants, except in some specific circumstances under the Brazilian Corporation Law; (4) the right to hold our management accountable in accordance with the provisions of the Brazilian Corporation Law; and (5) the right to withdraw from us in the cases specified in the Brazilian Corporation Law, including merger or consolidation, which are described in &#8220;&#8212;Right of Withdrawal&#8221; and &#8220;&#8212;Redemption.&#8221;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Neither our by-laws, nor the Brazilian Corporation Law, contain any restriction on voting by Non-Resident Holders of common shares of Cosan.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to our by-laws, every shareholder, group of shareholders or holders of ADSs that holds, acquires or becomes the owner, directly or indirectly, of 2.5%, 5.0%, 7.5% or 10.0% (and successively upon 2.5% increments) or more of the total shares of our capital stock, is required to inform us of the total amount of shares, or rights of shares, owned.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Public Tender Offer upon Sale of Control</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The direct or indirect disposal of controlling interest in Cosan in a single transaction or series of successive transactions must be agreed upon under a condition that the acquirer will make a tender offer to purchase the shares issued by Cosan and owned by the remaining shareholders, subject to the terms of, and within the time limits prescribed by, prevailing regulation and legislation and the Novo Mercado Regulation, so that the holders of such remaining shares may receive the same treatment as accorded to the seller pursuant to Article 254-A of the Brazilian Corporation Law and Articles 37 and 38 of the <font style="font-style: italic;">Novo Mercado</font> Rules and Article 36 of our by-laws.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our By-Laws contain a provision stating that any shareholder that acquires or becomes the owner, directly or indirectly, of our capital stock corresponding to 10%, until January 31, 2028, and 15% as from February 1, 2028, or more of the total shares of our capital stock, whether by means of a single transaction or through several transactions, must make or apply for registration of, as the case may be, a tender offer to purchase all shares of our capital stock of Cosan, subject to the provisions of the applicable regulations issued by the CVM and Novo Mercado Regulation and Article 37 of our by-laws.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Allocation of Net Income</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Together with the financial statements for the fiscal year, the board of directors will submit to the Annual Shareholders&#8217; Meeting the proposed allocation of net income, in compliance with the provisions of law and Cosan By-Laws.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The shareholders will be entitled to receive as dividends each year a mandatory minimum percentage of twenty five percent (25%). Pursuant to Brazilian Corporation Law, our net income may be allocated to income reserves and to the distribution of dividends. For purposes of Brazilian Corporation Law, net income is defined as a period&#8217;s result minus accumulated losses from previous years, income and social contribution tax provisions and any other amounts allocated for the payment of profit sharing authorized in our bylaws to employees and management</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the Brazilian Corporation Law, payment of the mandatory dividend is not required if the board of directors has formally declared such distribution to be inadvisable in view of our financial condition and has provided the shareholders at the annual general shareholders&#8217; meeting with an opinion to that effect, which has been reviewed by our fiscal council. In addition, our management must submit a report to the CVM within five days following said meeting clarifying the reasoning for any such non-payment. See &#8220;&#8212;Dividends.&#8221;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Preemptive Rights</font></p>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our shareholders have a general preemptive right to subscribe for our shares in any capital increase of the same class of shares owned by them, pro rata to their interest in our capital stock at the time of the capital increase, except in the event of a grant or assignment of any option to acquire or subscribe to our common shares.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">While our shareholders also have preemptive rights to subscribe for convertible debentures and subscription warrants, no preemptive rights apply to actual conversions of debentures, acquisitions of common shares from subscription of warrants and the offer and exercise of call options. In accordance with Brazilian Corporation Law, a period of at least 30 days following the publication of a notice of issuance of shares, convertible debentures or subscription warrants is granted for the exercise of preemptive rights, which rights may be transferred or disposed of for value. However, in accordance with Article 172 of Brazilian Corporation Law, our board of directors may refuse the granting of preemptive rights, or reduce the exercise period, with respect to the issue of new shares, convertible debentures and subscription warrants, up to the maximum limit of our authorized capital stock, if the placement of those shares, debentures or warrants occurs through a stock exchange sale or a public offering, in a public tender offer, with the objective of acquiring control of another company.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our shareholders are not entitled to preemptive rights to subscribe our shares or our subscription bonus issued and placed through the trade on a stock exchange or a public subscription or the acquisition of shares made in the context of a public offer for acquisition of control.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Arbitration</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with the regulations of the <font style="font-style: italic;">Novo Mercado </font>and our by-laws, Cosan, its shareholders, executive officers, directors and fiscal council members are required to resolve through arbitration any disputes or controversies, including those related to or arising out of the application, validity, effectiveness, interpretation and violation, among others, of the provisions of the Brazilian Corporation Law, Law No. 6,385/76, our by-laws, the rules published by the CMN, the Brazilian Central Bank, the CVM and other rules applicable to the Brazilian capital markets in general, as well as those set forth in the <font style="font-style: italic;">Novo Mercado </font>Listing Regulations, in the <font style="font-style: italic;">Novo Mercado </font>Listing Agreement and in other rules issued by the B3, and such arbitration is the exclusive means to settle such disputes with Cosan&#8217;s shareholders. As the holders of Cosan ADSs are not direct shareholders of Cosan, these arbitration requirements do not apply to such Cosan ADS holders; however, because the Depositary is a holder of common shares of Cosan, it would be bound by these mandatory arbitration provisions if it sought to exercise remedies against Cosan under Brazilian law.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Liquidation</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cosan shall be liquidated upon the occurrence of certain events provided for in the Brazilian Corporation Law, whereupon a meeting of the shareholders shall determine the form of liquidation, electing the liquidator(s) and the members of our fiscal council, which must operate on a mandatory basis during the liquidation period.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Redemption</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">According to the Brazilian Corporation Law, we may redeem common shares of Cosan subject to the approval of our shareholders at an extraordinary shareholders&#8217; meeting where shareholders representing at least 50% of the shares that would be affected are present. The share redemption may be paid with our retained earnings, income reserves or capital reserves, with the exception of the legal reserve.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">If the share redemption is not applicable to all shares, the redemption will be made by lottery. If custody shares are picked in the lottery and there are no rules established in the custody agreement, the financial institution will specify, on a pro rata basis, the shares to be redeemed.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Right of Withdrawal</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian Corporation Law provides that, in case any of our shareholders dissent from certain decisions taken at a shareholders&#8217; meeting, they have the right to withdraw its equity interest from the company and to receive payment for the portion of shareholders&#8217; equity attributable to its equity interest.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; margin-bottom: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to Brazilian Corporation Law, shareholder withdrawal rights may be exercised under the following circumstances, among others:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to reduce the mandatory distribution of dividends;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to merge with another company (including if Cosan is merged into one of its controlling companies) or to consolidate, except as described in the fourth paragraph following this list;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to approve our participation in a centralized group of companies, as defined under Article 265 of the Brazilian Corporation Law, and subject to the conditions set forth therein, except as described in the fourth paragraph following this list;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to change our corporate purpose;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to terminate a state of liquidation of the corporation;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to dissolve the corporation; or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to transfer all of our shares to another company or in order to make us a wholly owned subsidiary of such company, known as a merger of shares (<font style="font-style: italic;">incorpora&#231;&#227;o de a&#231;&#245;es)</font>, except as described in the fourth paragraph following this list;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to acquire the totality of shares of another company through a merger of shares (<font style="font-style: italic;">incorpora&#231;&#227;o de a&#231;&#245;es)</font>, except as described in the fourth paragraph following this list;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to approve the acquisition of control of another company at a price which exceeds certain limits set forth in the Brazilian Corporation Law, except as described in the fourth paragraph following this list; or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to conduct a spin-off that results in (a) a change of our corporate purpose, except if the assets and liabilities of the spin-off company are contributed to a company that is engaged in substantially the same activities, (b) a reduction in the mandatory dividend or (c) any participation in a centralized group of companies, as defined under the Brazilian Corporation Law.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In addition, in the event that the entity resulting from <font style="font-style: italic;">incorpora&#231;&#227;o de a&#231;&#245;es</font>, or a merger of shares, a consolidation or a spin-off of a listed company fails to become a listed company within 120 days of the shareholders&#8217; meeting at which such decision was taken, the dissenting or non-voting shareholders may also exercise their withdrawal rights.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Only holders of shares adversely affected by the changes mentioned in the first and second items above may withdraw their shares. The right of withdrawal lapses 30 days after publication of the minutes of the relevant shareholders&#8217; meeting. We would be entitled to reconsider any action giving rise to withdrawal rights within 10 days following the expiration of such rights if the withdrawal of shares of dissenting shareholders would jeopardize Cosan&#8217;s financial condition.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian Corporation Law allows companies to redeem their shares at their economic value, subject to certain requirements. Since our by-laws currently do not provide that our shares be subject to withdrawal at their economic value, our shares would be subject to withdrawal at their book value, determined on the basis of the last balance sheet approved by the shareholders. If the shareholders&#8217; meeting giving rise to withdrawal rights occurs more than 60 days after the date of the last approved balance sheet, a shareholder may demand that its shares be valued on the basis of a new balance sheet that is of a date within 60 days of such shareholders&#8217; meeting. In this case, Cosan must immediately pay 80% of the net worth of the shares, calculated on the basis of the most recent statement of financial position approved by its shareholders, and the balance must be paid within 120 days after the date of the resolution of the shareholders&#8217; meeting.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, in events of consolidation, merger, incorpora&#231;&#227;o de a&#231;&#245;es, participation in a group of companies, and acquisition of control of another company, the right to withdraw does not apply if the shares meet certain tests relating to liquidity and dispersal of the type or class of shares on the market (they are part of the B3 Index or other stock exchange index (as defined by the CVM)). In such cases, shareholders will not be entitled to withdraw their shares if the shares are a component of a general securities index in Brazil or abroad admitted to trading on the securities markets, as defined by the CVM, and the shares held by persons unaffiliated with the controlling shareholder represent more than half of the outstanding shares of the relevant type or class.</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Registration of Shares</font></p>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The common shares of Cosan are held in book-entry form with Ita&#250; Corretora de Valores S.A. Transfer of the common shares of Cosan is carried out through a debit entry on the seller&#8217;s account and a credit entry on the purchaser&#8217;s account upon (1) written request of the seller; or (2) judicial order or authorization.</font></p>
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<p style="margin: 10pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Form and Transfer</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Because the common shares of Cosan are in registered book-entry form, the transfer of shares is made under Article 35 of the Brazilian Corporation Law, which determines that a transfer of shares is effected by an entry made by the registrar, by debiting the share account of the transferor and crediting the share account of the transferee. Ita&#250; Corretora de Valores S.A. performs safe-keeping, share transfer and other related services for us.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Transfers of shares by a foreign investor are made in the same way and executed by that investor&#8217;s local agent on the investor&#8217;s behalf except that, if the original investment was registered with the Brazilian Central Bank, pursuant to Resolution No. 4,373/2014 of the Brazilian Central Bank, the foreign investor, through its local agent, should also seek amendment, if necessary, of the electronic certificate of registration to reflect the new ownership.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The B3 operates a central clearing system (the <font style="font-style: italic;">Central Deposit&#225;ria</font> of the B3). A holder of common shares of Cosan may choose, at its discretion, to hold our common shares through this system and all shares elected to be put into the system will be deposited in custody with the relevant stock exchange (through a Brazilian institution duly authorized to operate by the Brazilian Central Bank having a clearing account with the relevant stock exchange). The fact that those shares are subject to custody with the relevant stock exchange will be reflected in our register of shareholders. Each participating shareholder will, in turn, be registered in our register of beneficial shareholders maintained by the relevant stock exchange and will be treated in the same way as a registered shareholder.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Shareholders&#8217; Meetings</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Brazilian Corporation Law, our shareholders are generally empowered to take any action relating to our corporate purposes and to pass resolutions that they deem necessary. Shareholders at our annual general shareholders&#8217; meeting, which is required to be held within the first four months of the end of each year, have the exclusive right to approve our audited financial statements and our management accounts, as well as to determine the allocation of our net income and the distribution of dividends with respect to the fiscal year ended immediately prior to the date of the relevant shareholders&#8217; meeting. Generally (1) the installation of the fiscal council and election of its members, (2) the election of the members of our board of directors and (3) the determination of the annual compensation of our executive officers, board of directors and fiscal council are approved in the annual shareholders&#8217; meeting, but such matters may also be approved at extraordinary shareholders&#8217; meetings.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">An extraordinary shareholders&#8217; meeting may be held at any time during the year, including concurrently with the annual shareholders&#8217; meeting. The following matters, among others, may be resolved only at a shareholders&#8217; meeting:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">amendment of our by-laws;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">election and dismissal of the members of our board of directors and fiscal council, whenever requested by our shareholders;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of management accounts and of our audited financial statements on a yearly basis;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">authorization of issuance of debentures by us, except for issuances which our board of directors has been authorized to decide pursuant to a previous decision of our shareholders;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">suspension of the exercise of a shareholder&#8217;s rights in the event of noncompliance with the Brazilian Corporation Law or our by-laws;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of valuation reports of assets offered by a shareholder to us as payment for the subscription of shares of our capital stock;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of issuance of shares in excess of the limit of our authorized capital;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">determination of the annual compensation of our executive officers, board of directors and fiscal council;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of any transaction involving our transformation into a limited liability company, consolidation, merger or spin-off;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of any transaction involving our dissolution or liquidation, the appointment and dismissal of the respective liquidator and the official review of the reports prepared by it;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">authorization to delist from B3 <font style="font-style: italic;">Novo Mercado </font>and to become a private company, as well as to retain a specialist firm to prepare a valuation report with respect to the value of our common shares, in such event;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">authorization to our directors and officers to petition for bankruptcy or file a request for judicial or extrajudicial restructuring;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of stock option plans for managers and employees of Cosan and companies directly or indirectly controlled by Cosan, excluding shareholder preemptive rights; and</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approval of any stock splits or reverse stock splits.</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'>6</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Quorum</font></p>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As a general rule, the Brazilian Corporation Law provides that the quorum for purposes of a shareholders&#8217; meeting consists of the presence of shareholders representing at least 25% of our issued and outstanding shares on first call, and, if that quorum is not reached, any percentage on second call. If our shareholders meet to amend our by-laws, a supermajority quorum of shareholders representing at least two-thirds of our issued and outstanding shares shall be required on first call, and any percentage will be sufficient on second call.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A shareholder may be represented in a shareholders&#8217; meeting by an attorney-in-fact appointed no more than one year prior to the date of the relevant shareholders&#8217; meeting. The attorney-in-fact must be a shareholder, director or executive officer of Cosan, a lawyer or a financial institution registered by their manager.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Generally, the affirmative vote of shareholders representing at least the majority of our issued and outstanding shares present in person, or represented by proxy, at a shareholders&#8217; meeting is required to approve any proposed action, with abstentions not taken into account. Exceptionally, according to the Brazilian Corporation Law, the affirmative vote of shareholders representing not less than one-half of our issued and outstanding shares is required to, among other measures:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">reduce the percentage of mandatory dividends;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">change our corporate purpose;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">consolidate with or merge us into another company;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">engage in a spin-off transaction;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approve our participation in a group of companies (as defined in the Brazilian Corporation Law);</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">apply for cancellation of any voluntary liquidation;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approve our dissolution; and</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">approve the merger of all of our common shares into another Brazilian company.</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'>7</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Location of a Shareholders&#8217; Meeting</font></p>
<p style="margin: 10pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Our shareholders&#8217; meetings take place at our headquarters in the city of S&#227;o Paulo, state of S&#227;o Paulo, Brazil. The Brazilian Corporation Law allows our shareholders to hold meetings in another location in the event of a force majeure, provided that the meetings are held in the city of S&#227;o Paulo and the relevant notice includes a clear indication of the place where the meeting will occur. All information relating to shareholders&#8217; meetings will be available (1) at our headquarters, in the City of S&#227;o Paulo, State of S&#227;o Paulo, at Avenida Brigadeiro Faria Lima, 4,100, 16<font style="vertical-align: super;">th</font> floor, ZIP Code 04538-132 and (2) on the internet at our website (https://ri.cosan.com.br/en/), the website of the CVM (www.cvm.gov.br), and the website of B3 (www.b3.com.br). The information included on these websites does not form part of this exhibit and is not incorporated by reference herein.</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Who May Call a Shareholders&#8217; Meeting</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The shareholders&#8217; meetings may be called by our board of directors and by:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">any shareholder, if our board of directors fails to call a shareholders&#8217; meeting within 60 days after the date it is required to do so under applicable law and our by-laws;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">shareholders holding at least five percent of our capital stock, if our board of directors fails to call a meeting within eight days after receipt of a justified request to call the meeting by those shareholders indicating the proposed agenda;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">shareholders holding at least five percent of our capital stock if our board of directors fails to call a meeting within eight days after receipt of a request to call the meeting for the creation of the fiscal council; or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">our fiscal council, if one is created, if the board of directors fails to call an annual shareholders&#8217; meeting within one month after the date it is required to do so under applicable law and our by-laws, or if the fiscal council believes that there are important or urgent matters to be addressed.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Notice of a Shareholders&#8217; Meeting</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">All notices of general meetings must be published at least three times in any newspaper widely circulated, which, in our case, is the <font style="font-style: italic;">Folha de S&#227;o Paulo</font>. The notice must include, in addition to the place, date and time, the agenda of the meeting and, in the case of a proposed amendment to our by-laws, a description of the subject matter of the proposed amendment.</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Conditions of Admission to our Shareholders&#8217; Meeting</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In order to attend a shareholders&#8217; meeting and exercise their voting rights shareholders must, within two days prior to the shareholders&#8217; meeting, prove their status as shareholders and their ownership of by presenting his or her identity card/organizational documents and proof of power of attorney, if applicable, and proof of deposit issued by the financial institution responsible for the bookkeeping of the common shares of Cosan.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A shareholder may be represented at a shareholders&#8217; meeting by a proxy, appointed less than one year before the meeting, who must be one of our shareholders, or one of our officers or directors, a lawyer or a financial institution represented by their manager.</font></p>
<p style="margin: 10pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Delisting from the </font><font style="font-style: italic; font-weight: bold;">Novo Mercado</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">At any time, Cosan may decide to delist its common shares from the <font style="font-style: italic;">Novo Mercado</font>. In order to delist its common shares from the <font style="font-style: italic;">Novo Mercado</font>, Cosan (or its controlling shareholders) would be required to first launch a public tender offer through which Cosan or the controlling shareholders would acquire the free float shares, or the &#8220;Delisting TO.&#8221; The Delisting TO must comply with the applicable rules of the CVM Resolution No. 85, dated March&nbsp;31, 2022, as amended or &#8220;CVM Resolution No. 85,&#8221; and (1) have a &#8220;fair price,&#8221; according to the Brazilian Corporation Law; and (2) be approved by the holders of more than 1/3 of the outstanding free float shares. However, the Delisting TO requirement can be waived so long as holders of 2/3 of the free float shares approve such waiver. Our delisting from the <font style="font-style: italic;">Novo Mercado </font>will not necessarily result in the loss of its registration as a public company on the B3.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">If Cosan delists from <font style="font-style: italic;">Novo Mercado </font>due a corporate restructuring transaction, either (1) the surviving company must submit the application for listing on the <font style="font-style: italic;">Novo Mercado </font>within 120 days after the date of the shareholders&#8217; meeting that approved such corporate restructuring transaction or (2) if the resulting companies do not wish to be listed on the <font style="font-style: italic;">Novo Mercado, </font>the majority of the holders of the outstanding free float shares must approve such corporate restructuring transaction.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In certain circumstances, Cosan (or its controlling shareholders) could be required under the <font style="font-style: italic;">Novo Mercado</font> rules to launch a Delisting TO. <font style="font-style: italic;">Novo Mercado</font> regulation stipulates that the compulsory delisting from <font style="font-style: italic;">Novo Mercado</font> will be applied only in the event Cosan has violated Novo Mercado listing rules for a period of more than nine months.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under CVM rules, if the offeror in a Delisting TO (the &#8220;Delisting TO Offeror&#8221;) subsequent transfers shareholding control within the 12-month period following the occurrence of a Delisting TO, the Delisting TO Offeror must pay to the former shareholders that tendered their shares in the Delisting TO (the &#8220;Delisting TO Former Shareholders&#8221;), on a <font style="font-style: italic;">pro rata </font>basis, the difference, if any, between the tender offer price paid to the Delisting TO Former Shareholders and the price the Delisting TO Offeror received in such subsequent transfer.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Purchases of Our Common Shares for Treasury</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to CVM Resolution No. 77, dated March 29, 2022, or &#8220;CVM Resolution No. 77,&#8221; the purchase or sale by us of our own shares requires shareholders&#8217; approval in the event that the transaction:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">takes place outside a stock exchange or over-the-counter market, or involves more than 5.0% of the outstanding shares of a certain type or class, and is performed within an 18-month period;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">takes place outside a stock exchange or over-the-counter market and at prices that are 10.0% higher with respect to purchases, and 10.0% lower, with respect to sales, than the price of our shares quoted on the relevant stock exchange;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">aims to change or prevent a change in our controlling shareholding or administrative structure; and</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">takes place outside a stock exchange or over-the-counter market and the counterpart is a related party.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Subject to certain conditions described in CVM Resolution No. 77, our shareholders&#8217; approval is not required for the purchase or sale by us of our own shares:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">where the counterparty is a member of our board of directors, our officer, employee or supplier in the context of exercise of stock options granted under a stock option plan (or other similar plans); or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">in the context of a secondary public offering of treasury shares (or securities convertible or exchangeable into treasury shares).</font></li>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt; margin-bottom: 10pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We may acquire our own shares to be held in treasury, sold or canceled, pursuant to a resolution of our board of directors or our shareholders, as applicable. We may not acquire our shares, hold them in treasury or cancel them in the event that such transaction:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">targets shares owned by our controlling shareholders;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">takes place on organized securities markets at prices higher than market price;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">is concurrent with a public offering for the acquisition of shares of Cosan, pursuant to the applicable securities regulations; or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">requires funds greater than those currently available to us.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In order to authorize the purchase of our own shares, our board of directors or our shareholders (through a resolution approved at a shareholders meeting) must specify the purpose of the transaction, the maximum number of shares to be acquired, the total number of our outstanding shares and the maximum period of time to effect such purchase (not exceeding 18 months), among other information required by CVM Resolution No. 77.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Policy for the Trading of Our Securities by Us and Its Controlling Shareholder (If Any), Directors and Officers</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">CVM Resolution No. 44, dated August 23, 2021, or &#8220;CVM Resolution No. 44,&#8221; establishes that &#8220;insiders&#8221; must abstain from trading our securities, including derivatives backed by or linked to our securities, prior to our disclosure of material information to the market.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following persons are considered insiders for purposes of CVM Resolution No. 44: we, any person who negotiated any of our securities and made use of any relevant nondisclosed information acquired, our controlling shareholder (if any), members of our board of directors, executive officers, members of our fiscal council and whoever by virtue of its title, duty or position in our company, our controlling shareholder, controlled companies or affiliates has knowledge of a material fact and is aware that such fact has not been disclosed to the market, including auditors, analysts, underwriters and advisors.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Such restriction on trading also applies:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to any of our former officers, members of our board of directors or our fiscal council for a three-month period, if any such officer, director or member of the fiscal council left our company prior to the disclosure of material information he/she was aware of while in office;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">in the event that we intend to acquire another company, consolidate, spin off part or all of our assets, merge, transform, or reorganize;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to us, in connection with or for the transfer of our control, or in the event that an option or mandate to such effect has been granted, and any other negotiation involving our securities;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to our direct and indirect controlling shareholders, their officers and members of their board of directors, whenever we, any of our subsidiaries or affiliates are in the process of purchasing or selling common shares of Cosan or have granted stock options over shares of Cosan, or if a mandate for such purposes has been granted; or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">during the 15-day period preceding the disclosure of our quarterly information (<font style="font-style: italic;">informa&#231;&#245;es trimestrais</font>) or our standardized financial statements (<font style="font-style: italic;">demonstra&#231;&#245;es financeiras padronizadas</font>), which is a standard form report containing relevant financial information derived from our financial statements that we are required to file with the CVM.</font></li>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<div><font style="font-weight: bold;">DESCRIPTION OF THE REGISTRANT&#8217;S SECURITIES</font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">REGISTERED PURSUANT TO SECTION 12 OF THE</font><br><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</font>
<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold; text-decoration: underline;">Description of </font><font style="font-weight: bold; text-decoration: underline;">American Depositary Shares</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following description of Cosan S.A. (the &#8220;Company,&#8221; &#8220;Cosan,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221;)&#8217;s american depositary shares (the &#8220;ADSs&#8221;) is a summary and does not purport to be complete.&nbsp;It is subject to and qualified in its entirety by reference to the deposit agreement among&nbsp;Cosan, JPMorgan Chase Bank, N.A., as depositary, and the holders from time to time of&nbsp;ADSs&nbsp;issued thereunder, including the form of American depositary receipts. For more complete information, you should read the entire&nbsp;deposit agreement&nbsp;and the form of&nbsp;American depositary receipt. The form of&nbsp;the&nbsp;deposit agreement&nbsp;(including the form of&nbsp;American depositary receipt),&nbsp;is incorporated by reference as an exhibit to our annual report on Form 20-F for the fiscal year ended December 31, 2021 (the &#8220;Annual Report on Form 20-F&#8221;). Capitalized terms used and not defined hereinafter shall have the meanings ascribed to them throughout our Annual Report on Form 20-F.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">American Depositary Shares / American Depositary Receipts</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">JPMorgan Chase Bank, N.A. (the &#8220;ADS Depositary&#8221;), as depositary will issue the ADSs. Each ADS will represent an ownership interest in a designated number or percentage of shares which we will deposit with the Custodian (the &#8220;Custodian&#8221;), as agent of the depositary, under the deposit agreement among ourselves, the ADS Depositary, yourself as a holder of American depositary receipts representing ADSs (&#8220;ADRs&#8221;) and all other ADR holders, and all beneficial owners of an interest in the ADSs evidenced by ADRs from time to time. In the future, each ADSs will also represent any securities, cash or other property deposited with the depositary but which they have not distributed directly to you. Unless certificated ADRs are specifically requested by you, all ADSs will be issued on the books of our depositary in book-entry form and periodic statements will be mailed to you which reflect your ownership interest in such ADSs. In our description, references to American depositary receipts or ADRs shall include the statements you will receive which reflect your ownership of ADSs.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary&#8217;s office is located at 383 Madison Avenue, Floor 11, New York, NY 10179.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">You may hold ADSs either directly or indirectly through your broker or other financial institution. If you hold ADSs directly, by having an ADS registered in your name on the books of the ADS Depositary, you are an ADR holder. This description assumes you are an ADR holder and hold your ADSs directly. If you have a beneficial ownership interest in ADSs but hold the ADSs through your broker or financial institution nominee, you are a beneficial owner of ADSs and must rely on the procedures of such broker or financial institution to assert the rights of an ADR holder described in this section. You should consult with your broker or financial institution to find out what those procedures are. If you are a beneficial owner, you will only be able to exercise any right or receive any benefit under the deposit agreement solely through the ADR holder which holds the ADR(s) evidencing the ADSs owned by you, and the arrangements between you and such ADR holder may affect your ability to exercise any rights you may have. For all purposes under the deposit agreement, an ADR holder is deemed to have all requisite authority to act on behalf of any and all beneficial owners of the ADSs evidenced by the ADR(s) registered in such ADR holder&#8217;s name. The ADS Depositary&#8217;s only notification obligations under the deposit agreement shall be to the ADR holders, and notice to an ADR holder shall be deemed, for all purposes of the deposit agreement, to constitute notice to any and all beneficial owners of the ADSs evidenced by such ADR holder&#8217;s ADRs. </font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As an ADR holder or beneficial owner, we will not treat you as a shareholder of ours and you will not have any shareholder rights. Brazilian law governs shareholder rights. Because the ADS Depositary or its nominee will be the shareholder of record for the common shares represented by all outstanding ADSs, shareholder rights rest with such record holder. Your rights are those of an ADR holder or of a beneficial owner. Such rights derive from the terms of the deposit agreement to be entered into among us, the ADS Depositary and all registered holders and beneficial owners from time to time of ADSs issued under the deposit agreement and, in the case of a beneficial owner, from the arrangements between the beneficial owner and the holder of the corresponding ADRs. The obligations of our company, the ADS Depositary and its agents are also set out in the deposit agreement. Because the ADS Depositary or its nominee will actually be the registered owner of the common shares, you must rely on it to exercise the rights of a shareholder on your behalf. The deposit agreement, the ADRs and the ADSs are governed by New York law. Under the deposit agreement, as an ADR holder or a beneficial owner of ADSs, you agree that any legal suit, action or proceeding against or involving us or the ADS Depositary, arising out of or based upon the deposit agreement, the ADSs or the transactions contemplated thereby, may only be instituted in a state or federal court in New York, New York, and you irrevocably waive any objection which you may have to the laying of venue of any such proceeding and irrevocably submit to the exclusive jurisdiction of such courts in any such suit, action or proceeding.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following is a summary of what we believe to be the material terms of the deposit agreement. Notwithstanding this, because it is a summary, it may not contain all the information that you may otherwise deem important. For more complete information, you should read the entire deposit agreement and the form of ADR which contains the terms of your ADSs. You can read a copy of the deposit agreement which is filed as an exhibit to, or incorporated by reference in, our Annual Report on Form 20-F or the most recent Form F-6 registration statement (or amendment thereto) filed with the SEC. You may also obtain a copy of the form of deposit agreement at the SEC&#8217;s Public Reference Room which is located at 100 F Street, NE, Washington, DC 20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-732-0330. You may also find the registration statement and the deposit agreement on the SEC&#8217;s website at http://www.sec.gov.</font></p>
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<p style="margin: 10pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Share Dividends and Other Distributions</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">How will I receive dividends and other distributions on </font><font style="font-style: italic; font-weight: bold;">the common shares</font><font style="font-style: italic; font-weight: bold;"> underlying my </font><font style="font-style: italic; font-weight: bold;">ADSs</font><font style="font-style: italic; font-weight: bold;">?</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We may make various types of distributions with respect to our securities. The ADS Depositary has agreed that, subject to any restrictions imposed by Brazilian law, regulation or applicable permit, to the extent practicable, it will pay to you the cash dividends or other distributions it or the Custodian receives on common shares or other deposited securities, after converting any cash received into U.S. dollars (if it determines such conversion may be made on a reasonable basis) and, in all cases, making any necessary deductions provided for in the deposit agreement. The ADS Depositary may utilize a division, branch or affiliate of the ADS Depositary to direct, manage and/or execute any public and/or private sale of securities under the deposit agreement. Such division, branch and/or affiliate may charge the ADS Depositary a fee in connection with such sales, which fee is considered an expense of the ADS Depositary. You will receive these distributions in proportion to the number of underlying securities that your ADSs represent.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Except as stated below, the ADS Depositary will deliver such distributions to ADR holders in proportion to their interests in the following manner:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">Cash</font>. The ADS Depositary will distribute any U.S. dollars available to it resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution or portion thereof (to the extent applicable), on an averaged or other practicable basis, subject to (i) appropriate adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to certain ADR holders, and (iii) deduction of the ADS Depositary&#8217;s and/or its agents&#8217; expenses in (1) converting any foreign currency to U.S. dollars to the extent that it determines that such conversion may be made on a reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the ADS Depositary may determine to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any approval or license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within a reasonable time and (4) making any sale by public or private means in any commercially reasonable manner. If exchange rates fluctuate during a time when the ADS Depositary cannot convert a foreign currency, you may lose some or all of the value of the distribution. If we shall have advised the ADS Depositary pursuant to the provisions of the deposit agreement that any such conversion, transfer or distribution can be effected only with the approval or license of the Brazilian government or any agency thereof or the ADS Depositary shall become aware of any other governmental approval or license required therefor, the ADS Depositary may, in its discretion, apply for such approval or license, if any, as ours or its Brazilian counsel may reasonably instruct in writing or as the ADS Depositary may deem desirable including, without limitation, Central Bank registration.</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">C</font><font style="font-style: italic;">ommon shares</font>. In the case of a distribution in common shares, the ADS Depositary will issue additional ADRs to evidence the number of ADSs representing such common shares. Only whole ADSs will be issued. Any common shares which would result in fractional ADSs will be sold and the net proceeds will be distributed in the same manner as cash to the ADR holders entitled thereto.</font></li>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">Rights to receive additional </font><font style="font-style: italic;">common shares</font>. In the case of a distribution of rights to subscribe for additional common shares or other rights, if we timely provide evidence satisfactory to the ADS Depositary that it may lawfully distribute such rights, the ADS Depositary will distribute warrants or other instruments in the discretion of the ADS Depositary representing such rights. However, if we do not timely furnish such evidence, the ADS Depositary may:</font></li>
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<td style="height: 29px; vertical-align: top; width: 2%;" valign="top">(i)</td>
<td style="height: 29px; vertical-align: top; width: 98%;" 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">sell such rights if practicable and distribute the net proceeds in the same manner as cash to the ADR holders entitled thereto; or</font></td>
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<td style="height: 34px; vertical-align: top;" valign="top">(ii)</td>
<td style="height: 34px; 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">if it is not practicable to sell such rights by reason of the non-transferability of the rights, limited markets therefor, their short duration or otherwise, do nothing and allow such rights to lapse, in which case ADR holders will receive nothing and the rights may lapse. We have no obligation to file a registration statement under the Securities Act in order to make any rights available to ADR holders.</font></td>
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<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">Other Distributions</font>. In the case of a distribution of securities or property other than those described above, the ADS Depositary may either (i) distribute such securities or property in any manner it deems equitable and practicable or (ii) to the extent the ADS Depositary deems distribution of such securities or property not to be equitable and practicable, sell such securities or property and distribute any net proceeds in the same way it distributes cash. </font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">Elective Distributions</font>. In the case of a dividend payable at the election of our shareholders in cash or in additional common shares, we will notify the ADS Depositary at least 30 days prior to the proposed distribution stating whether or not we wish such elective distribution to be made available to ADR holders. The ADS Depositary shall make such elective distribution available to ADR holders only if (i) we shall have timely requested that the elective distribution is available to ADR holders, (ii) the ADS Depositary shall have determined that such distribution is reasonably practicable and (iii) the ADS Depositary shall have received satisfactory documentation within the terms of the deposit agreement including any legal opinions of counsel that the ADS Depositary in its reasonable discretion may request. If the above conditions are not satisfied, the ADS Depositary shall, to the extent permitted by law, distribute to the ADR holders, on the basis of the same determination as is made in the local market in respect of the common shares for which no election is made, either (x) cash or (y) additional ADSs representing such additional common shares. If the above conditions are satisfied, the ADS Depositary shall establish procedures to enable ADR holders to elect the receipt of the proposed dividend in cash or in additional ADSs. There can be no assurance that ADR holders or beneficial owners of ADSs generally, or any ADR holder or beneficial owner of ADSs in particular, will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of common shares.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">If the ADS Depositary determines in its discretion that any distribution described above is not practicable with respect to any specific ADR holder, the ADS Depositary may (after consultation with us if practicable in the case where the ADS Depositary believes such distribution is not practicable with respect to all Holders) choose any method of distribution that it deems practicable for such ADR holder, including the distribution of foreign currency, securities or property, or it may retain such items, without paying interest on or investing them, on behalf of the ADR holder as deposited securities, in which case the ADSs will also represent the retained items.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Any U.S. dollars will be distributed by checks drawn on a bank in the United States for whole dollars and cents. Fractional cents will be withheld without liability and dealt with by the ADS Depositary in accordance with its then current practices.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic;">The ADS Depositary is not responsible if it fails to determine that any distribution or action is lawful or reasonably practicable.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic;">There can be no assurance that the ADS Depositary will be able to convert any currency at a specified exchange rate or sell any property, rights, </font><font style="font-style: italic;">common shares</font><font style="font-style: italic;"> or other securities at a specified price, nor that any of such transactions can be completed within a specified time period. All purchases and sales of securities will be handled by the ADS Depositary in accordance with its then current policies, which are currently set forth in the &#8220;Depositary Receipt Sale and Purchase of Security&#8221; section of https://www.adr.com/Investors/FindOutAboutDRs, the location and contents of which the ADS Depositary shall be solely responsible for.</font> <font style="font-style: italic;">Any reference to a website address does not constitute incorporation by reference of the information contained at or available through such website, and you should not consider it to be a part of this</font><font style="font-style: italic;"> exhibit</font><font style="font-style: italic;">.</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'>13</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Deposit, Withdrawal and Cancellation</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">How does the ADS Depositary issue </font><font style="font-style: italic; font-weight: bold;">ADSs</font><font style="font-style: italic; font-weight: bold;">?</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary will issue ADSs if you or your broker deposit common shares or evidence of rights to receive common shares with the Custodian and pay the fees and expenses owing to the ADS Depositary in connection with such issuance.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Common shares deposited in the future with the Custodian must be accompanied by certain delivery documentation and shall, at the time of such deposit, be registered in the name of the ADS Depositary, as ADS Depositary for the benefit of ADR holders or in such other name as the ADS Depositary shall direct.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Custodian will hold all deposited common shares for the account and to the order of the ADS Depositary, in each case for the benefit of ADR holders, to the extent not prohibited by law. ADR holders and beneficial owners thus have no direct ownership interest in the common shares and only have such rights as are contained in the deposit agreement. The Custodian will also hold any additional securities, property and cash received on or in substitution for the deposited common shares. The deposited common shares and any such additional items are referred to as &#8220;deposited securities.&#8221;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deposited securities are not intended to, and shall not, constitute proprietary assets of the ADS Depositary, the Custodian or their nominees. Beneficial ownership in deposited securities is intended to be, and shall at all times during the term of the deposit agreement continue to be, vested in the beneficial owners of the ADSs representing such deposited securities. Notwithstanding anything else contained herein, in the deposit agreement, in the form of ADR and/or in any outstanding ADSs, the ADS Depositary, the Custodian and their respective nominees are intended to be, and shall at all times during the term of the deposit agreement be, the record holder(s) only of the deposited securities represented by the ADSs for the benefit of the ADR holders. The ADS Depositary, on its own behalf and on behalf of the Custodian and their respective nominees, disclaims any beneficial ownership interest in the deposited securities held on behalf of the ADR holders.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Upon each deposit of common shares, receipt of related delivery documentation and compliance with the other provisions of the deposit agreement, including the payment of the fees and charges of the ADS Depositary and any taxes or other fees or charges owing, the ADS Depositary will issue an ADR or ADRs in the name or upon the order of the person entitled thereto evidencing the number of ADSs to which such person is entitled. All of the ADSs issued will, unless specifically requested to the contrary, be part of the ADS Depositary&#8217;s direct registration system, and an ADR holder will receive periodic statements from the ADS Depositary which will show the number of ADSs registered in such ADR holder&#8217;s name. An ADR holder can request that the ADSs not be held through the ADS Depositary&#8217;s direct registration system and that a certificated ADR be issued.</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">How do </font><font style="font-style: italic; font-weight: bold;">ADR</font><font style="font-style: italic; font-weight: bold;"> holders cancel an </font><font style="font-style: italic; font-weight: bold;">ADS</font><font style="font-style: italic; font-weight: bold;"> and obtain deposited securities?</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">When you turn in your ADR certificate at the ADS Depositary&#8217;s office, or when you provide proper instructions and documentation in the case of direct registration ADSs, the ADS Depositary will, upon payment of certain applicable fees, charges and taxes, deliver the underlying common shares to you or upon your written order. Delivery of deposited securities in certificated form will be made at the Custodian&#8217;s office. At your risk, expense and request, the ADS Depositary may deliver deposited securities at such other place as you may request.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary may only restrict the withdrawal of deposited securities in connection with:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">temporary delays caused by closing transfer books of the ADS Depositary or our transfer books or the deposit of common shares in connection with voting at a shareholders&#8217; meeting, or the payment of dividends;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">the payment of fees, taxes, and similar charges; and </font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">compliance with any laws or governmental regulations relating to ADRs or to the withdrawal of deposited securities.</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'>14</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">This right of withdrawal may not be limited by any other provision of the deposit agreement.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Record Dates</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary may, after consultation with us if practicable, fix record dates (which, to the extent applicable, shall be as near as practicable to any corresponding record dates set by us) for the determination of the ADR holders who will be entitled (or obligated, as the case may be):</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to receive any distribution on or in respect of deposited securities,</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to give instructions for the exercise of voting rights at a meeting of holders of common shares, </font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to pay any fees, charges or expenses assessed by, or owing to the ADS Depositary, or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">to receive any notice or to act or be obligated in respect of other matters,</font></li>
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<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">all subject to the provisions of the deposit agreement.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Voting Rights</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">How do I vote?</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">If you are an ADR holder and the ADS Depositary asks you to provide it with voting instructions, you may instruct the ADS Depositary how to exercise the voting rights for the common shares which underlie your ADSs. As soon as practicable after receiving notice from us of any meeting at which the holders of common shares are entitled to vote, or of our solicitation of consents or proxies from holders of common shares, the ADS Depositary shall fix the ADS record date in accordance with the provisions of the deposit agreement, provided that if the ADS Depositary receives a written request from us in a timely manner and at least 30 days prior to the date of such vote or meeting, the ADS Depositary shall, at our expense, distribute to the ADR holders a notice stating (i) final information particular to such vote and meeting and any solicitation materials, (ii) that each ADR holder on the record date set by the ADS Depositary will, subject to any applicable provisions of Brazilian law, be entitled to instruct the ADS Depositary to exercise the voting rights, if any, pertaining to the common shares underlying such ADR holder&#8217;s ADSs and (iii) the manner in which such instructions may be given or deemed given in accordance with the deposit agreement, including instructions to give a discretionary proxy to a person designated by us. Each ADR holder is solely responsible for the forwarding of such notices to the beneficial owners of ADSs registered in such ADR holder&#8217;s name. Following actual receipt by the ADR department responsible for proxies and voting of ADR holders&#8217; instructions (including, without limitation, instructions of any entity or entities acting on behalf of the nominee for DTC), the ADS Depositary shall, in the manner and on or before the time established by the ADS Depositary for such purpose, endeavor to vote or cause to be voted the common shares represented by the ADSs evidenced by such ADR holders&#8217; ADRs in accordance with such instructions insofar as practicable and permitted under the provisions of or governing our common shares. </font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ADR holders and beneficial owners of ADSs are strongly encouraged to forward their voting instructions to the ADS Depositary as soon as possible. For instructions to be valid, the ADR department of the ADS Depositary that is responsible for proxies and voting must receive them in the manner and on or before the time specified, notwithstanding that such instructions may have been physically received by the ADS Depositary prior to such time. The ADS Depositary will not itself exercise any voting discretion, provided that to the extent that (A) the ADS Depositary has been provided with at least 30 days' notice of the proposed meeting from us and (B) the ADS Depositary does not receive instructions on a particular agenda item from a holder (including, without limitation, any entity or entities acting on behalf of the nominee for DTC) in a timely manner, such holder shall be deemed, and the ADS Depositary is instructed to deem such holder, to have instructed the ADS Depositary to give a discretionary proxy for such agenda item(s) to a person designated by us to vote the common shares represented by the ADSs for which actual instructions were not so given by all such holders on such agenda item(s), provided that no such instruction shall be deemed given and no discretionary proxy shall be given unless (1) we inform the ADS Depositary in writing (upon agreement to promptly do so) that (a) it wishes such proxy to be given with respect to such agenda item(s), (b) there is no substantial opposition existing with respect to such agenda item(s) and (c) such agenda item(s), if approved, would not materially or adversely affect the rights of holders of our common shares, and (2) the ADS Depositary has obtained an opinion of counsel, in form and substance satisfactory to the ADS Depositary, confirming that (i) the granting of such discretionary proxy does not subject the ADS Depositary to any reporting obligations in Brazil, (ii) the granting of such proxy will not result in a violation of Brazilian laws, rules, regulations or permits, (iii) the voting arrangement and deemed instruction as contemplated herein will be given effect under Brazilian laws, rules and regulations, and (iv) the granting of such discretionary proxy will not under any circumstances result in the common shares represented by the ADSs being treated as assets of the ADS Depositary under Brazilian laws, rules or regulations. The ADS Depositary has agreed that if it has been provided with at least 30 days&#8217; notice of the proposed meeting from us in accordance with (A) above, the ADS Depositary will send the voting notice to all holders and beneficial owners no less than 15 days prior to the date of the meeting.</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'>15</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notwithstanding anything contained in the deposit agreement or any ADR, the ADS Depositary may, to the extent not prohibited by any law, rule or regulation, or the rules, regulations and/or requirements of the stock exchange or market on which the ADSs are listed or traded, in lieu of distribution of the materials provided to the ADS Depositary in connection with any meeting of, or solicitation of consents or proxies from, holders of deposited securities, distribute to the ADR holders a notice that provides such ADR holders with, or otherwise publicizes to such ADR holders, instructions on how to retrieve such materials or receive such materials upon request (i.e., by reference to a website containing the materials for retrieval or a contact for requesting copies of the materials).</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">There is no guarantee that ADR holders and beneficial owners of ADSs generally, or any ADR holder or beneficial owner of ADSs in particular, will receive voting materials in time to instruct the ADS Depositary to vote and it is possible that you, or persons who hold their ADSs through brokers, dealers or other third parties, will not have the opportunity to exercise a right to vote. Because under such circumstances, holders and beneficial owners may be deemed to have instructed the ADS Depositary to give a discretionary proxy to a person designated by us, neither the ADS Depositary, the Custodian nor any of their respective agents shall incur any liability to holders or beneficial owners with respect thereto.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Reports and Other Communications</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">Will </font><font style="font-style: italic; font-weight: bold;">ADR</font><font style="font-style: italic; font-weight: bold;"> holders be able to view our reports?</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary will make available for inspection by ADR holders at the offices of the ADS Depositary and the Custodian the deposit agreement, the provisions of or governing deposited securities, and any written communications from us which are both received by the Custodian or its nominee as a holder of deposited securities and made generally available to the holders of deposited securities.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additionally, if we make any written communications generally available to holders of our common shares, and we furnish copies thereof (or English translations or summaries) to the ADS Depositary, it will distribute the same to ADR holders.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Fees and Expenses</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Depositary may charge each person to whom ADSs are issued, including, without limitation, issuances against deposits of common shares of Cosan, issuances in respect of share distributions, rights and other distributions, issuances pursuant to a stock dividend or stock split declared by us or issuances pursuant to a merger, exchange of securities or any other transaction or event affecting the ADSs or deposited securities, and each person surrendering ADSs for withdrawal of deposited securities or whose ADSs are cancelled or reduced for any other reason, U.S.$5.00 for each 100 ADSs (or any portion thereof) issued, delivered, reduced, cancelled or surrendered, as the case may be. The Depositary may sell (by public or private sale) sufficient securities and property received in respect of a share distribution, rights and/or other distribution prior to such deposit to pay such charge.</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 style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following additional charges shall also be incurred by the holders of American Depositary Receipts evidencing ADSs of Cosan, or ADRs, and beneficial owners of ADSs, by any party depositing or withdrawing common shares of Cosan or by any party surrendering ADSs and/or to whom ADSs are issued (including, without limitation, issuance pursuant to a stock dividend or stock split declared by us or an exchange of stock regarding the ADSs or the deposited securities or a distribution of ADSs), whichever is applicable:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">a fee of up to U.S.$0.05 per ADS held upon which any cash distribution made pursuant to the deposit agreement or in the case of an elective cash/stock dividend, upon which a cash distribution or an issuance of additional ADSs is made as a result of such elective dividend;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">an aggregate fee of up to U.S.$0.05 per ADS per calendar year (or portion thereof) for services performed by the Depositary in administering the ADRs (which fee may be charged on a periodic basis during each calendar year and shall be assessed against ADR holders as of the record date or record dates set by the Depositary during each calendar year and shall be payable in the manner described in the next succeeding provision);</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">a fee for the reimbursement of such fees, charges and expenses as are incurred by the Depositary and/or any of its agents (including, without limitation, the Custodian and expenses incurred on behalf of ADR holders in connection with compliance with foreign exchange control regulations or any law, rule or regulation relating to foreign investment) in connection with the servicing of the common shares of Cosan or other deposited securities, the sale of securities (including, without limitation, deposited securities), the delivery of deposited securities or otherwise in connection with the Depositary&#8217;s or its Custodian&#8217;s compliance with applicable law, rule or regulation (which fees and charges shall be assessed on a proportionate basis against ADR holders as of the record date or dates set by the Depositary and shall be payable at the sole discretion of the Depositary by billing such ADR holders or by deducting such charge from one or more cash dividends or other cash distributions), including, without limitation, any amounts charged by any governmental authorities or other institutions such as the B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o, the stock exchange on which the common shares of Cosan are registered for trading;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">a fee for the distribution of securities (or the sale of securities in connection with a distribution), such fee being in an amount equal to the U.S.$0.05 per ADS issuance fee for the execution and delivery of ADSs which would have been charged as a result of the deposit of such securities (treating all such securities as if they were common shares of Cosan) but which securities or the net cash proceeds from the sale thereof are instead distributed by the Depositary to those ADR holders entitled thereto;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">stock transfer or other taxes and other governmental charges;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">SWIFT, cable, telex and facsimile transmission and delivery charges incurred at your request in connection with the deposit or delivery of common shares of Cosan, ADRs or deposited securities;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">transfer or registration fees for the registration of transfer of deposited securities on any applicable register in connection with the deposit or withdrawal of deposited securities; and</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">fees of any division, branch or affiliate of the Depositary utilized by the Depositary to direct, manage and/or execute any public and/or private sale of securities under the deposit agreement.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To facilitate the administration of various Depositary receipt transactions, including disbursement of dividends or other cash distributions and other corporate actions, the Depositary may engage the foreign exchange desk within the Depositary and/or its affiliates in order to enter into spot foreign exchange transactions to convert foreign currency into U.S. dollars.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The fees and charges you may be required to pay may vary over time and may be changed by us and by the Depositary. ADR holders will receive prior notice of the increase in any such fees and charges. The right of the Depositary to charge and receive payment of fees, charges and expenses as provided above shall survive the termination of the deposit agreement.</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>17</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Depositary may make available to us a set amount or a portion of the Depositary fees charged in respect of the ADR program or otherwise upon such terms and conditions as we and the Depositary may agree from time to time. The Depositary collects its fees for issuance and cancellation of ADSs directly from investors depositing common shares of Cosan or surrendering ADSs for the purpose of withdrawal or from intermediaries acting for them. The Depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed or by selling a portion of distributable property to pay the fees. The Depositary may collect its annual fee for Depositary services by deduction from cash distributions, or by directly billing investors, or by charging the book-entry system accounts of participants acting for them. The Depositary will generally set off the amounts owing from distributions made to ADR holders. If, however, no distribution exists and payment owing is not timely received by the Depositary, the Depositary may refuse to provide any further services to ADR holders that have not paid those fees and expenses owing until such fees and expenses have been paid. At the discretion of the ADS Depositary, all fees and charges owing under the deposit agreement are due in advance and/or when declared owing by the ADS Depositary.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Payment of Taxes</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ADR holders or beneficial owners must pay any tax or other governmental charge payable by the Custodian or the ADS Depositary on any ADS or ADR, deposited security or distribution. If any taxes or other governmental charges (including any penalties and/or interest) shall become payable by or on behalf of the Custodian or the ADS Depositary with respect to any ADR, any deposited securities represented by the ADSs evidenced thereby or any distribution thereon, such tax or other governmental charge shall be paid by the applicable ADR holder to the ADS Depositary and by holding or owning, or having held or owned, an ADR or any ADSs evidenced thereby, the ADR holder and all beneficial owners of such ADSs, and all prior registered holders of such ADRs and prior beneficial owners of such ADSs, jointly and severally, agree to indemnify, defend and save harmless each of the ADS Depositary and its agents in respect of such tax or governmental charge. Each ADR holder and beneficial owner of ADSs, and each prior ADR holder and beneficial owner of ADSs, by holding or having held an ADR or an interest in ADSs, acknowledges and agrees that the ADS Depositary shall have the right to seek payment of any taxes or governmental charges owing with respect to the relevant ADRs from any one or more such current or prior ADR holder or beneficial owner of ADSs, as determined by the ADS Depositary in its sole discretion, without any obligation to seek payment of amounts owing from any other current or prior ADR holder or beneficial owner of ADSs. If an ADR holder owes any tax or other governmental charge, the ADS Depositary may (i) deduct the amount thereof from any cash distributions, or (ii) sell deposited securities by public or private sale and deduct the amount owing from the net proceeds of such sale. In either case the ADR holder remains liable for any shortfall. If any tax or governmental charge is unpaid, the ADS Depositary may also refuse to effect any registration, registration of transfer, split-up or combination of deposited securities or withdrawal of deposited securities until such payment is made. If any tax or governmental charge is required to be withheld on any cash distribution, the ADS Depositary may deduct the amount required to be withheld from any cash distribution or, in the case of a non-cash distribution, sell the distributed property or securities (by public or private sale) in such amounts and in such manner as the ADS Depositary deems necessary and practicable to pay such taxes and distribute any remaining net proceeds or the balance of any such property after deduction of such taxes to the ADR holders entitled thereto.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As an ADR holder or beneficial owner, you will be agreeing to indemnify us, the ADS Depositary, its Custodian and any of our or their respective officers, directors, employees, agents and affiliates against, and hold each of them harmless from, any claims by any governmental authority with respect to taxes, additions to tax, penalties or interest arising out of any refund of taxes, reduced rate of withholding at source or other tax benefit obtained. Such obligations shall survive any transfer of ADSs, any surrender of ADSs and withdrawal of the deposited securities and any termination of the deposit agreement.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To the extent not prohibited by law, rule or regulation, the ADS Depositary will forward to us such information from its transfer records maintained by it in its capacity as ADS Depositary under the deposit agreement as we may reasonably request to enable us to file any necessary reports with governmental authorities or agencies, that are required in order to enable ADR holders or beneficial owners of ADSs to benefit from reduced withholding tax rate under any applicable tax treaties. The ADS Depositary shall cooperate with our efforts to make and maintain arrangements enabling holders to receive any tax credits or other benefits (pursuant to treaty or otherwise) relating to dividend payments on the ADSs, and, to the extent not prohibited by law, rule or regulation, the ADS Depositary shall, to the extent reasonably practicable, provide us with such documents from its transfer records as the we may reasonably request to maintain such arrangements.</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'>18</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Reclassifications, Recapitalizations and Mergers</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">If we take certain actions that affect the deposited securities, including (i) any change in par value, split-up, consolidation, cancellation or other reclassification of deposited securities or (ii) any distributions of common shares or other property not made to ADR holders or (iii) any recapitalization, reorganization, merger, consolidation, liquidation, receivership, bankruptcy or sale of all or substantially all of our assets, then the ADS Depositary may choose to, and shall if reasonably requested by us:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">amend the form of ADR;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">distribute additional or amended ADRs;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">distribute cash, securities or other property it has received in connection with such actions;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">sell any securities or property received and distribute the proceeds as cash; or</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">none of the above.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">If the ADS Depositary does not choose any of the above options, any of the cash, securities or other property it receives will constitute part of the deposited securities and each ADS will then represent a proportionate interest in such property.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Amendment and Termination</font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">How may the deposit agreement be amended?</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We may agree with the ADS Depositary to amend the deposit agreement and the ADSs without your consent for any reason. ADR holders must be given at least 30 days&#8217; notice of any amendment that imposes or increases any fees or charges on a per ADS basis (other than stock transfer or other taxes and other governmental charges, transfer or registration fees, SWIFT, cable, telex or facsimile transmission costs, delivery costs or other such expenses), or otherwise prejudices any substantial existing right of ADR holders or beneficial owners of ADSs. Such notice need not describe in detail the specific amendments effectuated thereby, but must identify to ADR holders and beneficial owners a means to access the text of such amendment. If an ADR holder continues to hold an ADR or ADRs after being so notified, such ADR holder and the beneficial owner of the corresponding ADSs are deemed to agree to such amendment and to be bound by the deposit agreement as so amended. No amendment, however, will impair your right to surrender your ADSs and receive the underlying securities, except in order to comply with mandatory provisions of applicable law.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Any amendments or supplements which (i) are reasonably necessary (as agreed by us and the ADS Depositary) in order for (a) the ADSs to be registered on Form F-6 under the Securities Act of 1933 or (b) the ADSs or common shares to be traded solely in electronic book-entry form and (ii) do not in either such case impose or increase any fees or charges to be borne by ADR holders, shall be deemed not to prejudice any substantial rights of ADR holders or beneficial owners of ADSs. Notwithstanding the foregoing, if any governmental body or regulatory body should adopt new laws, rules or regulations which would require amendment or supplement of the deposit agreement or the form of ADR to ensure compliance therewith, we and the ADS Depositary may amend or supplement the deposit agreement and the form of ADR (and all outstanding ADRs) at any time in accordance with such changed laws, rules or regulations, which amendment or supplement to the deposit agreement in such circumstances may become effective before a notice of such amendment or supplement is given to ADR holders or within any other period of time as required for compliance.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Notice of any amendment to the deposit agreement or form of ADRs shall not need to describe in detail the specific amendments effectuated thereby, and failure to describe the specific amendments in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the ADR holders identifies a means for ADR holders and beneficial owners to retrieve or receive the text of such amendment (i.e., upon retrieval from the SEC&#8217;s, the ADS Depositary&#8217;s or our website or upon request from the ADS Depositary).</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>19</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt 0pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">How may the deposit agreement be terminated?</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary may, and shall at our written direction, terminate the deposit agreement and the ADRs by mailing notice of such termination to the ADR holders at least 30 days prior to the date fixed in such notice for such termination; provided, however, if the ADS Depositary shall have (i) resigned as ADS Depositary under the deposit agreement, notice of such termination by the ADS Depositary shall not be provided to ADR holders unless a successor ADS Depositary shall not be operating under the deposit agreement within 60 days of the date of such resignation, and (ii) been removed as ADS Depositary under the deposit agreement, notice of such termination by the ADS Depositary shall not be provided to ADR holders unless a successor ADS Depositary shall not be operating under the deposit agreement on the 60th day after our notice of removal was first provided to the ADS Depositary. Notwithstanding anything to the contrary herein, the ADS Depositary may terminate the deposit agreement without notifying us, but subject to giving 30 days&#8217; notice to the ADR holders, under the following circumstances: (i) in the event of our bankruptcy or insolvency, (ii) if the common shares cease to be listed on an internationally recognized stock exchange, (iii) if we effect (or will effect) a redemption of all or substantially all of the deposited securities, or a cash or share distribution representing a return of all or substantially all of the value of the deposited securities, or (iv) there occurs a merger, consolidation, sale of all or substantially all assets or other transaction as a result of which securities or other property are delivered in exchange for or in lieu of deposited securities. After the date so fixed for termination, the ADS Depositary and its agents will perform no further acts under the deposit agreement and the ADRs, except to receive and hold (or sell) distributions on deposited securities and deliver deposited securities being withdrawn. As soon as practicable after the date so fixed for termination, the ADS Depositary shall use its reasonable efforts to sell the deposited securities and shall thereafter (as long as it may lawfully do so) hold in an account (which may be a segregated or unsegregated account) the net proceeds of such sales, together with any other cash then held by it under the deposit agreement, without liability for interest, in trust for the pro rata benefit of the ADR holders who have not theretofore surrendered their ADRs. After making such sale, the ADS Depositary shall be discharged from all obligations in respect of the deposit agreement and the ADRs, except to account for such net proceeds and other cash. After the date so fixed for termination, we shall be discharged from all obligations under the deposit agreement except for our obligations to the ADS Depositary and its agents. </font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Depositary, the Custodian and the Company shall comply with Brazil&#8217;s CMN Resolution No. 4,373, dated as of September 29, 2014, in the third article, paragraph three, of the Regulation Annex V, and agree to furnish to the Brazilian Central Bank and CVM, whenever required, information or documents related to the ADRs and this deposit agreement, the deposited securities and distributions thereon. The ADS Depositary and the Custodian are hereby authorized to release such information or documents and any other information as required by local regulation, law or regulatory body request. In the event that the ADS Depositary or the Custodian shall be advised in writing by reputable independent Brazilian counsel that the ADS Depositary or the Custodian reasonably could be subject to criminal, or material, as reasonably determined by the ADS Depositary, civil liabilities as a result of the Company having failed to provide such information or documents reasonably available only through the Company, the ADS Depositary shall have the right to terminate this Deposit Agreement, upon at least 30 days' prior written notice to the holders and to us. The effect of any such termination of the deposit agreement shall be as provided therein.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Limitations on Obligations and Liability to </font><font style="font-weight: bold;">ADR</font><font style="font-weight: bold;"> holders</font></font></p>
<p style="margin: 0pt 0pt 10pt 9.35pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-style: italic; font-weight: bold;">Limits on our obligations and the obligations of the ADS Depositary; limits on liability to </font><font style="font-style: italic; font-weight: bold;">ADR</font><font style="font-style: italic; font-weight: bold;"> holders and beneficial owners of </font><font style="font-style: italic; font-weight: bold;">ADSs</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prior to the issue, registration, registration of transfer, split-up, combination, or cancellation of any ADRs, the delivery of any distribution in respect thereof, or subject to certain conditions, the withdrawal of any deposited securities, and from time to time in the case of the production of proofs as described below, we, the ADS Depositary or its Custodian may require:</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'>20</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">payment with respect thereto of (i) any stock transfer or other tax or other governmental charge, (ii) any stock transfer or registration fees in effect for the registration of transfers of common shares or other deposited securities upon any applicable register and (iii) any applicable charges described in the deposit agreement;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">the production of proof satisfactory to it of (i) the identity of any signatory and genuineness of any signature and (ii) such other information, including without limitation, information as to citizenship, residence, exchange control approval, beneficial or other ownership of, or interest in, any securities, compliance with applicable law, regulations, provisions of or governing deposited securities and terms of the deposit agreement and the ADRs, as it may deem necessary or proper; and</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">compliance with such regulations as the ADS Depositary may establish consistent with the deposit agreement and any regulations which the ADS Depositary is informed of in writing by us which are required by the ADS Depositary, us or the Custodian to facilitate compliance with any applicable rules or regulations of the Central Bank or CVM.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The issuance of ADRs, the acceptance of deposits of common shares, the registration, registration of transfer, split-up or combination of ADRs or the withdrawal of deposited securities, may be suspended, generally or in particular instances, when the ADR register or any register for deposited securities is closed or when any such action is deemed advisable by the ADS Depositary; provided that the ability to withdraw common shares may only be limited under the following circumstances: (i) temporary delays caused by closing transfer books of the ADS Depositary or our transfer books or the deposit of common shares in connection with voting at a shareholders&#8217; meeting, or the payment of dividends, (ii) the payment of fees, taxes, and similar charges, and (iii) compliance with any laws or governmental regulations relating to ADRs or to the withdrawal of deposited securities.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The deposit agreement expressly limits the obligations and liability of the ADS Depositary, ourselves and each of our and the ADS Depositary&#8217;s respective agents, provided, however, that no provision of the deposit agreement is intended to constitute a waiver or limitation of any rights which ADR holders or beneficial owners of ADSs may have under the Securities Act of 1933 or the Securities Exchange Act of 1934, to the extent applicable. In the deposit agreement it provides that neither we nor the ADS Depositary nor any such agent will incur liability to ADR holders or beneficial owners of ADSs if:</font></p>
<ul type="disc" style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">any present or future law, rule, regulation, fiat, order or decree of the United States, the Federative Republic of Brazil or any other country or jurisdiction, or of any governmental or regulatory authority or securities exchange or market or automated quotation system, the provisions of or governing any deposited securities, any present or future provision of our charter, any act of God, war, terrorism, nationalization, epidemic, pandemic, expropriation, currency restrictions, work stoppage, strike, civil unrest, revolutions, rebellions, explosions, computer failure or circumstance beyond our, the ADS Depositary&#8217;s or our respective agents&#8217; direct and immediate control shall prevent or delay, or shall cause any of them to be subject to any civil or criminal penalty in connection with, any act which the deposit agreement or the ADRs provide shall be done or performed by us, the ADS Depositary or our respective agents (including, without limitation, voting);</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">it exercises or fails to exercise discretion under the deposit agreement or the ADRs including, without limitation, any failure to determine that any distribution or action may be lawful or reasonably practicable;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">it performs its obligations under the deposit agreement and ADRs without gross negligence or willful misconduct;</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">it takes any action or refrains from taking any action in reliance upon the advice of or information from legal counsel, accountants, any person presenting common shares for deposit, any ADR holder, or any other person believed by it to be competent to give such advice or information, or in the case of the ADS Depositary only, our company; or</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">We, the ADS Depositary and its agents may rely and shall be protected in acting upon any written notice, request, direction, instruction or document believed by them to be genuine and to have been signed, presented or given by the proper party or parties. </font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>21</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary shall not be a fiduciary or have any fiduciary duty to ADR holders or beneficial owners of ADSs. Neither the ADS Depositary nor its agents have any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any deposited securities, the ADSs or the ADRs. We and our agents shall only be obligated to appear in, prosecute or defend any action, suit or other proceeding in respect of any deposited securities, the ADSs or the ADRs, which in our opinion may involve us in expense or liability, if indemnity satisfactory to us against all expense (including fees and disbursements of counsel) and liability is furnished as often as may be required. The ADS Depositary and its agents may fully respond to any and all demands or requests for information maintained by or on its behalf in connection with the deposit agreement, any ADR holder or holders, any ADRs or otherwise related to the deposit agreement or ADRs to the extent such information is requested or required by or pursuant to any lawful authority, including without limitation laws, rules, regulations, administrative or judicial process, banking, securities or other regulators. The ADS Depositary shall not be liable for the acts or omissions made by, or the insolvency of, any securities depository, clearing agency or settlement system. Furthermore, the ADS Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, the insolvency of any Custodian that is not a branch or affiliate of the ADS Depositary. Notwithstanding anything to the contrary contained in the deposit agreement or any ADRs, the ADS Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, any act or omission to act on the part of the Custodian except to the extent that any ADR holder has incurred liability directly as a result of the Custodian having (i) committed fraud or willful misconduct in the provision of custodial services to the ADS Depositary or (ii) failed to use reasonable care in the provision of custodial services to the ADS Depositary as determined in accordance with the standards prevailing in the jurisdiction in which the Custodian is located. The ADS Depositary and the Custodian(s) may use third party delivery services and providers of information regarding matters such as, but not limited to, pricing, proxy voting, corporate actions, class action litigation and other services in connection with the ADRs and the deposit agreement, and use local agents to provide services such as, but not limited to, attendance at any meetings of security holders. Although the ADS Depositary and the Custodian will use reasonable care (and cause their agents to use reasonable care) in the selection and retention of such third party providers and local agents, they will not be responsible for any errors or omissions made by them in providing the relevant information or services. The ADS Depositary shall not have any liability for the price received in connection with any sale of securities, the timing thereof or any delay in action or omission to act nor shall it be responsible for any error or delay in action, omission to act, default or negligence on the part of the party so retained in connection with any such sale or proposed sale.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary has no obligation to inform ADR holders or beneficial owners of ADSs about the requirements of any laws, rules or regulations or any changes therein or thereto of any country or jurisdiction or of any governmental or regulatory authority or any securities exchange or market or automated quotation system.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additionally, none of us, the ADS Depositary or the Custodian shall be liable for the failure by any ADR holder or beneficial owner of ADSs to obtain the benefits of credits or refunds of non-U.S. tax paid against such ADR holder&#8217;s or beneficial owner&#8217;s income tax liability. The ADS Depositary is under no obligation to provide ADR holders or beneficial owners of ADSs, or any of them, with any information about the tax status of our company. Neither we nor the ADS Depositary shall incur any liability for any tax or tax consequences that may be incurred by ADR holders or beneficial owners of ADSs on account of their ownership or disposition of the ADRs or ADSs.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Neither the ADS Depositary nor its agents will be responsible for any failure to carry out any instructions to vote any of the deposited securities, for the manner in which any such vote is cast, including without limitation any vote cast by a person to whom the ADS Depositary may be required to grant a discretionary proxy pursuant to the deposit agreement, or for the effect of any such vote. The ADS Depositary may rely upon instructions from us or our counsel in respect of any approval or license required for any currency conversion, transfer or distribution. The ADS Depositary shall not incur any liability for the content of any information submitted to it by us or on our behalf for distribution to ADR holders or for any inaccuracy of any translation thereof, for any investment risk associated with acquiring an interest in the deposited securities, for the validity or worth of the deposited securities, for the credit-worthiness of any third party, for allowing any rights to lapse upon the terms of the deposit agreement or for the failure or timeliness of any notice from us. The ADS Depositary shall not be liable for any acts or omissions made by a successor ADS Depositary whether in connection with a previous act or omission of the ADS Depositary or in connection with any matter arising wholly after the removal or resignation of the ADS Depositary, provided that in connection with a previous act or omission of the ADS Depositary out of which such potential liability arises the ADS Depositary performed its obligations without negligence or willful misconduct while it acted as ADS Depositary. Neither the ADS Depositary, us nor any our respective agents shall be liable to ADR holders or beneficial owners of ADSs for any indirect, special, punitive or consequential damages (including, without limitation, legal fees and expenses) or lost profits, in each case of any form incurred by any person or entity (including, without limitation, ADR holders and beneficial owners of ADSs), whether or not foreseeable and regardless of the type of action in which such a claim may be brought.</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>22</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary and its agents may own and deal in any class of securities of our company and our affiliates and in ADRs.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-weight: bold;">Disclosure of Interest in </font><font style="font-weight: bold;">ADSs</font></font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To the extent that the provisions of or governing any deposited securities may require disclosure of or impose limits on beneficial or other ownership of deposited securities, other common shares and other securities and may provide for blocking transfer, voting or other rights to enforce such disclosure or limits, ADR holders and beneficial owners of ADSs agree to comply with all such disclosure requirements and ownership limitations and to comply with any reasonable instructions we may provide in respect thereof. We reserve the right to instruct ADR holders (and through any such ADR holder, the beneficial owners of ADSs evidenced by the ADRs registered in such ADR holder&#8217;s name) to deliver their ADSs for cancellation and withdrawal of the deposited securities so as to permit us to deal directly with the ADR holder and/or beneficial owner of ADSs as a holder of common shares and, by holding an ADS or an interest therein, ADR holders and beneficial owners of ADSs will be agreeing to comply with such instructions.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Books of ADS Depositary</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary or its agent will maintain a register for the registration, registration of transfer, combination and split-up of ADRs, which register shall include the ADS Depositary&#8217;s direct registration system. ADR holders may inspect such records at the ADS Depositary&#8217;s office at all reasonable times, but solely for the purpose of communicating with other ADR holders in the interest of the business of our company or a matter relating to the deposit agreement. Such register (and/or any portion thereof) may be closed at any time or from time to time, when deemed expedient by the ADS Depositary and the ADS Depositary may also close the issuance book portion of the ADR register when reasonably requested by us in order to enable us to comply with applicable law.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The ADS Depositary will maintain facilities for the delivery and receipt of ADRs.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Appointment</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In the deposit agreement, each ADR holder and each beneficial owner of ADSs, upon acceptance of any ADSs (or any interest therein) issued in accordance with the terms and conditions of the deposit agreement will be deemed for all purposes to:</font></p>
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<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">be a party to and bound by the terms of the deposit agreement and the applicable ADR or ADRs, and</font></li>
<li style="font-family: Symbol; font-size: 10pt; margin: 0pt 0pt 10pt 27.6pt; padding-left: 8.4pt; text-indent: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">appoint the ADS Depositary its attorney-in-fact, with full power to delegate, to act on its behalf and to take any and all actions contemplated in the deposit agreement and the applicable ADR or ADRs, to adopt any and all procedures necessary to comply with applicable laws and to take such action as the ADS Depositary in its sole discretion may deem necessary or appropriate to carry out the purposes of the deposit agreement and the applicable ADR and ADRs, the taking of such actions to be the conclusive determinant of the necessity and appropriateness thereof.</font></li>
</ul>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Each ADR holder and beneficial owner of ADSs is further deemed to acknowledge and agree that (i) nothing in the deposit agreement or any ADR shall give rise to a partnership or joint venture among the parties thereto nor establish a fiduciary or similar relationship among such parties, (ii) the ADS Depositary, its divisions, branches and affiliates, and their respective agents, may from time to time be in the possession of non-public information about our company, the ADR holders, the beneficial owners of ADSs and/or their respective affiliates, (iii) the ADS Depositary and its divisions, branches and affiliates may at any time have multiple banking relationships with us, ADR holders, beneficial owners of ADSs and/or the affiliates of any of them, (iv) the ADS Depositary and its divisions, branches and affiliates may, from time to time, be engaged in transactions in which parties adverse to us or the ADR holders or beneficial owners of ADSs may have interests, (v) nothing contained in the deposit agreement or any ADR(s) shall (A) preclude the ADS Depositary or any of its divisions, branches or affiliates from engaging in such transactions or establishing or maintaining such relationships, or (B) obligate the ADS Depositary or any of its divisions, branches or affiliates to disclose such transactions or relationships or to account for any profit made or payment received in such transactions or relationships, (vi) the ADS Depositary shall not be deemed to have knowledge of any information held by any branch, division or affiliate of the ADS Depositary, and (vii) notice to a holder shall be deemed, for all purposes of the Deposit Agreement and an ADR, to constitute notice to any and all beneficial owners of the ADSs evidenced by such holder&#8217;s ADRs. For all purposes under the Deposit Agreement and an ADR, the holder hereof shall be deemed to have all requisite authority to act on behalf of any and all beneficial owners of the ADSs evidenced by this ADR.</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'>23</font></font></td>
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<p style="margin: 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Governing Law and Consent to Jurisdiction</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The deposit agreement, the ADSs and the ADRs are governed by and construed in accordance with the laws of the State of New York. In the deposit agreement, we have submitted to the jurisdiction of the courts of the State of New York and appointed an agent for service of process on our behalf. </font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">By holding or owning an ADR or an ADS or an interest therein, ADR holders and beneficial owners of ADSs each irrevocably agree that any legal suit, action or proceeding against or involving us or the ADS Depositary, arising out of or based upon the deposit agreement, the ADSs or the transactions contemplated thereby, may only be instituted in a state or federal court in New York, New York, and each irrevocably waives any objection which it may have to the laying of venue of any such proceeding, and irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. This provision applies to actions arising under the Securities Act or Exchange Act. The enforceability of similar choice of forum provisions has been challenged in legal proceedings. It is possible that a court could find this type of provisions to be inapplicable or unenforceable. To the extent that any claims may be based upon federal law claims, Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. Furthermore, Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. Holders of ADSs will not be deemed to have waived our or the ADS Depositary&#8217;s compliance with the U.S. federal securities laws and the regulations promulgated thereunder. In fact, holders of ADSs cannot waive our or the ADS Depositary&#8217;s compliance with U.S. federal securities laws and the rules and regulations promulgated thereunder.</font></p>
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Jury Trial Waiver</font></p>
<p style="margin: 0pt 0pt 0pt; text-indent: 18pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The deposit agreement provides that, to the fullest extent permitted by applicable law, each party thereto (including, for avoidance of doubt, each ADR holder and beneficial owner and/or holder of interests in ADSs) irrevocably waives, to the fullest extent permitted by applicable law, the right to a jury trial in any suit, action or proceeding against us or the ADS Depositary directly or indirectly arising out of or relating to our common shares or other deposited securities, the ADSs, the ADRs, the deposit agreement, or any transaction contemplated therein, or the breach thereof (whether based on contract, tort, common law or other theory), including any suit, action or proceeding under the U.S. federal securities laws. If we or the ADS Depositary were to oppose a jury trial demand based on such waiver, the court would determine whether the waiver was enforceable in the facts and circumstances of that case in accordance with applicable state and federal law, including whether a party knowingly, intelligently and voluntarily waived the right to a jury trial. The waiver to right to a jury trial of the deposit agreement is not intended to be deemed a waiver by any ADR holder or beneficial owner of ADSs of our or the ADS Depositary&#8217;s compliance with the Securities Act of 1933 or the Securities Exchange Act of 1934, to the extent applicable.&nbsp;</font></p>
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<DOCUMENT>
<TYPE>EX-4.6
<SEQUENCE>15
<FILENAME>ex46_5.htm
<DESCRIPTION>EXHIBIT 4.6
<TEXT>
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<p style="margin: 0pt; color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-family: 'Times New Roman';"><font style="font-weight: bold;"><font style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';">Exhibit 4.6</font></font></p>
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<p style="margin: 3.9pt 15.2pt 0pt 0pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Execution</font><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Version</font></p>
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<p style="line-height: 13.3pt; margin: 0pt 6.85pt 0pt 5pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">COSAN</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 6.85pt 0pt 5.1pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">COSAN INVESTIMENTOS E PARTICIPA&#199;&#213;ES</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A. </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 6.85pt 0pt 5.1pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">RA&#205;ZEN</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 36.05pt 0pt 35.15pt; text-indent: 25.9pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">SHELL BRAZIL HOLDING B.V. </font></p>
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<p style="margin: 0pt 6.85pt 0pt 7.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">AMENDMENT AND RESTATEMENT DEED TO THE </font></p>
<p style="margin: 0pt 6.85pt 0pt 7.3pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">JOINT VENTURE AGREEMENT</font></p>
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<p style="margin: 0pt 0pt 0pt 0.35pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">DATED</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JULY</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2021</font></p>
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<h4 style="vertical-align: middle; text-align: left;"><font lang="EN-GB" style="font-size: 12pt; font-family: 'Times New Roman', 'serif';"> Clause </font></h4>
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<h4 style="color: #000000; font-family: 'Times New Roman'; font-size: medium; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; vertical-align: middle; text-align: center;"><font style="font-size: 12pt;">Page&nbsp;</font></h4>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;"><a href="#BINTERPRETATION_OSF7Q54YI800000000000000000000">1. Interpretation and Definitions</a></font></td>
<td style="width: 9.23957%; text-align: center;">2</td>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;"><a href="#BAMENDMENT_KYXOL33OLS00000000000000000000">2. Amendment and Restatement of the JVA</a></font></td>
<td style="width: 9.23957%; text-align: center;">3</td>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;"><a href="#BGENERAL_4X07QNW5K000000000000000000000">3. General</a></font></td>
<td style="width: 9.23957%; text-align: center;">3</td>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;"><a href="#BCOUNTERPARTS_K5M6P4XIQO00000000000000000000">4. Counterparts</a></font></td>
<td style="width: 9.23957%; text-align: center;">3</td>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;"><a href="#BGOVERNING_FE5TS9383400000000000000000000">5. Governing Law and Language</a></font></td>
<td style="width: 9.23957%; text-align: center;">4</td>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;"><a href="#B_ARBITRATION_X3U4QZ17CG00000000000000000000">6.Arbitration</a></font></td>
<td style="width: 9.23957%; text-align: center;">4</td>
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<td style="width: 81.2756%; height: 20px;"><font style="font-size: 12pt;">Schedule 1</font></td>
<td style="width: 9.23957%; text-align: center;">1</td>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 3pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">THIS&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">AMENDMENT&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">AND&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RESTATEMENT&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">DEED&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">(the&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">"Amendment&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">and&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Restatement Deed")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">dated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> 11</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">July </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">2021 between: </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 140pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">PARTIES</font></p>
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<td style="padding: 1px 0px 10px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: center; width: 6%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(1)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, (formerly known as Cosan S.A. Ind&#250;stria e Com&#233;rcio), a company organized and existing under the laws of Brazil, with its head office in the City of S&#227;o Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">State</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Avenida</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16th</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">floor,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">room</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1, Itaim Bibi, CEP 04538-132, enrolled with the Brazilian tax registry under No. 50.746.577/0001-15 ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
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<td style="padding: 1px 0px 10px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: center;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(2)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN INVESTIMENTOS E PARTICIPA&#199;&#213;ES S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, a company incorporated under the laws of Brazil and whose registered office is at City of Sao Paulo, State of Sao</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Avenida</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16th</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">floor,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">room</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Itaim</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bibi,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">CEP 04538-132, enrolled with the Brazilian tax registry under No. 18.777.673/0001-18 ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and together with Cosan S.A. collectively,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
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<td style="padding: 1px 0px 10px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: center;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(3)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RA&#205;ZEN S.A. </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(formerly known as Ra&#237;zen Combust&#237;veis S.A.) a company organized and existing under the laws of Brazil, with its head office at City of Rio de Janeiro, State of Rio de Janeiro, at Avenida Almirante Barroso, 81, 36th floor, room 36A104, CEP 20.031-004, enrolled with the Brazilian tax registry under No. 33.453.598/0001- 23 (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
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<td style="padding: 1px 0px 10px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: center;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(4)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL BRAZIL HOLDING B.V.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, a company incorporated under the laws of the Netherlands with registered number 27192050 0000 and whose registered office is at Carel van Bylandtlaan 30, 2596HR's-Gravenhage, The Netherlands ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<td style="padding: 1px 0px 10px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: center;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(5)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL OVERSEAS HOLDINGS LIMITED</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, a company incorporated under the laws of England with registered number 00596107 and whose registered office is at Shell Centre, London, SE1 7NA ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell UK</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"),</font></p>
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<p style="margin: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">each hereafter referred to as a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and together as the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">".&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center; height: 20px;"><font style="font-size: 10pt;" class="pageno">1</font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 3pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RECITALS</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 51pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties have agreed to amend and restate the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JVA </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">inter alia </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in connection with the IPO (as defined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 51pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(B)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties are entering into this Amendment and Restatement Deed to document the amendments to the JVA (as defined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">THE PARTIES AGREE AS FOLLOWS:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">1.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BINTERPRETATION_OSF7Q54YI800000000000000000000" class="customBookmark">INTERPRETATION</a> AND</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">DEFINITIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;">1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Definitions</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">In this Amendment and Restatement Deed:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Commencement Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the publication of the announcement informing the market of the beginning of the distribution of preferred shares issued by Downstream Co (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">An&#250;ncio de In&#237;cio de Oferta P&#250;blica de Distribui&#231;&#227;o de A&#231;&#245;es Preferenciais de Emiss&#227;o da Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Effective Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in c</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lause 2.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JVA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">venture</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">originally</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">June</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2011,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amended</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on 26 December 2013 and as amended and restated pursuant to an amendment and restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">31</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">May</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2021,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">between</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Investimentos, Downstream Co, Shell, and Shell UK Co (as defined therein);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">IPO</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the initial public offering of the preferred shares in the Downstream Co on the N&#237;vel II segment of B3 which shall become effective upon disclosure of the Commencement Announcement to the market.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;">1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Construction</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.7pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JVA</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">apply</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Amendment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">were set out herein, but as if references in that clause to the JVA were references to this Amendment and Restatement Deed.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;">1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Parties to this Amendment and Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Deed</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acknowledge</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">corporate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reorganisation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">June 2021,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Energia</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">became</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">wholly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">owned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subsidiary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(less 1 common share owned by each of Cosan and Shell) and following which it ceased to be a party to the JVA and is therefore not required to execute this Amendment and Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deed.</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<h1 style="margin: 3pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">2.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BAMENDMENT_KYXOL33OLS00000000000000000000" class="customBookmark">AMENDMENT</a> AND RESTATEMENT OF THE</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JVA</font></h1>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
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<td style="width: 6%; height: 20px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">2.1</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties agree that the JVA shall be amended and restated in the form set out in Schedule 1 to this Amendment and Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deed.</font></p>
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<td style="width: 6%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">2.2</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">The amendments made to the JVA pursuant to clause 3.1 shall become effective immediately following the Commencement Announcement (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Effective Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that:</font></p>
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<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="width: 9%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.2.1</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">no such amendments shall create any liability for a Party for failing to perform an obligation prior to the Effective Date to the extent that it did not have that obligation prior to the Effective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.2.2</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">the accrued rights and obligations of the parties to the JVA as at the Effective Date shall not be affected;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.2.3</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the extent that any continuing agreements or arrangements already entered into by or on behalf of any Party pursuant to or as a result of any of the provisions of the JVA are, as a result of the amendments and restatements effected by this Amendment and Restatement Deed, no longer in accordance and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consistent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provisions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JVA,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amended</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">restated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by this Amendment and Restatement Deed, then such agreements or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arrangements shall (subject, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">mutatis mutandis</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, to the proviso in clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2.2.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above) to such extent either cease to apply as of the Effective Date or be deemed modified to the extent necessary to make them accord and consistent with such amended and restated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provisions.</font></p>
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<h1 style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">3.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BGENERAL_4X07QNW5K000000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">GENERAL</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;">3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Construction</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The JVA and this Amendment and Restatement Deed shall hereafter be read and construed as one document and references in the JVA to 'this Agreement' or 'the JVA' shall be read and construed as references to the JVA as amended and restated by this Amendment and Restatement Deed.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Except where inconsistent with the provisions of this Amendment and Restatement Deed, the terms of the JVA are hereby confirmed and remain in full force and effect.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;">3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Clause 34 of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JVA</font></p>
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<p style="margin: 0pt 10pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause 34 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">General</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) of the JVA (as amended by this Amendment and Restatement Deed) shall apply to this Amendment and Restatement Deed as if it was set out in this Amendment and Restatement Deed, but as if references in that clause to the JVA were references to this Amendment and Restatement Deed.</font></p>
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<h1 style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">4.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BCOUNTERPARTS_K5M6P4XIQO00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COUNTERPARTS</font></a></h1>
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<p style="margin: 0.05pt 9.9pt 0pt 51pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Amendment and Restatement Deed may be executed in any number of counterparts each of which when executed and delivered is an original, but all the counterparts together constitute the same document.</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno">3</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>
<h1 style="margin: 3pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">5.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BGOVERNING_FE5TS9383400000000000000000000" class="customBookmark">GOVERNING</a> LAW AND</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">LANGUAGE</font></h1>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Amendment and Restatement Deed and all non contractual or other obligations arising out of or in connection with it are governed&nbsp; &nbsp; by English</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">law.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Amendment and Restatement Deed is drawn up in the English language. If this Amendment and Restatement Deed is translated&nbsp; &nbsp; &nbsp; &nbsp; into another language, the English language text prevails.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 51pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">6.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B_ARBITRATION_X3U4QZ17CG00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RBITRATION</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arising</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">connection</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Amendment and Restatement Deed (including a dispute regarding the&nbsp; existence, validity or termination of this Amendment and Restatement Deed or the consequences of its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nullity),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">referred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">finally</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resolved</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rules of Arbitration of the International Chamber of Commerce ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), which Rules are deemed to be incorporated by reference into this clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The tribunal will consist of three arbitrators two of whom will be nominated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by the respective Parties, and the third, who shall act as chairman, shall be a national of a member state of the Organisation for Economic Co-operation and Development (except the United States of America, England or the Netherlands) and nominated by the other two arbitrators together (but failing agreement within 30 days of the appointment of the second arbitrator, the third arbitrator shall be appointed by the International Chamber of Commerce). The seat of the arbitration shall be S&#227;o Paulo, Brazil, and the language of the arbitration will be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">English.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties agree that the arbitral tribunal will have power to award on a provisional basis any relief that it would have power to grant on a final</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">award.</font></p>
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<p style="margin: 0.05pt 9.95pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.1.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Without prejudice to the powers of the arbitrator provided by the Rules, statute or otherwise, the arbitrator will have power at any time, on the basis of written evidence and the submissions of the Parties alone, to make an award in favour of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">claimant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respondent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">counterclaim)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">claims</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or counterclaims)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">there</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arguable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">defence,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">either</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or except as to the amount of any damages or other sum to be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">awarded.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.1.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties agree to keep confidential all materials used in and all awards received</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">result</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">proceedings,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">except</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to be disclosed by applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Law.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 87pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">6.1.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties exclude any rights to refer points of law or to appeal to the courts, to the extent that they can validly waive these</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights.</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno">4</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: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">T</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">his Amendment and Restatement Deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> has been signed and executed as a DEED by the Parties and is delivered by them on the date specified above.</font></p>
<p style="margin: 0pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN S.A. </font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 19px; width: 34%;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Executed as a DEED by</font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 19px; width: 66%;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> /s/</font><font style="font-family: 'Times New Roman';"> </font><font style="display: none; font-family: 'Times New Roman';"> </font><font style="display: none; font-family: 'Times New Roman';">/s/</font><font style="display: none; font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.05pt;">Luis Henrique Cals de Beauclair Guimar&#227;es</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN S.A.</font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">by </font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 19px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">/s/ Maria Rita de Carvalho Drummond</font><font style="display: none; font-family: 'Times New Roman';">/s/</font><font style="display: none; font-family: 'Times New Roman';"> Maria Rita de Carvalho Drummond</font></font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 17px;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top; height: 17px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Name:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">Luis Henrique&nbsp;Cals&nbsp;de&nbsp;Beauclair&nbsp;Guimar&#227;es</font></font></td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 17px;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top; height: 17px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Chief Executive Officer</font></font></td>
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<td style="padding: 0px 0px 0px 20px; vertical-align: top; height: 17px;"><br></td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top; height: 20px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Name:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Maria Rita de&nbsp;Carvalho&nbsp;Drummond</font></font></td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top; height: 20px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;General Counsel</font></font><br></td>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="display: none; font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the presence of</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Josiele Feitosa de Oliveira</font></font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Signature of witness</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Josiele Feitosa de Oliveira</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Name of witness</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Josiele.oliveira@cosan.com</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Address of witness</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Assistente Adm.</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Occupation of witness</font></p>
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<p style="margin: 12pt 0pt 0pt; orphans: 0; page-break-after: avoid; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN INVESTIMENTOS </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 34%;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Executed as a DEED by</font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt; orphans: 0; page-break-after: avoid; widows: 0;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Rubens Ometto Silveira Mello</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN INVESTIMENTOS E PARTICIPACOES S.A.</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">by </font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">/s/ Maria Rita de Carvalho Drummond</font><font style="display: none; font-family: 'Times New Roman';"> </font><font style="display: none; font-family: 'Times New Roman';">/s/</font><font style="display: none; font-family: 'Times New Roman';"> Maria Rita de Carvalho Drummond</font></font></p>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
</tr>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Name:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Rubens&nbsp;Ometto&nbsp;Silveira&nbsp;Mello</font></font></td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Chief Executive Officer</font></font><br></td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><br></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Name:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Maria Rita de&nbsp;Carvalho&nbsp;Drummond</font></font></td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Officer</font></font><br></td>
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</table>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="display: none; font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the presence of</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000; width: 34%;">
<p style="margin: 0pt;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Josiele Feitosa de Oliveira</font></font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Signature of witness</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Josiele Feitosa de Oliveira</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Name of witness</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Josiele.oliveira@cosan.com</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Address of witness</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Assistente Adm.</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Occupation of witness</font></p>
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<p style="margin: 4.55pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</div>
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<div>
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<td class="pgno" style="padding: 0px; text-align: center;"><br></td>
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<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<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 0pt 6pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 0pt 0pt 6pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">DOWNSTREAM CO</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 34%;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Executed as a DEED by</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Guilherme Jos&#233; de Vasconcelos Cerqueira</font></p>
</td>
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<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">RA&#205;ZEN S.A.</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">)</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">)</font></p>
</td>
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<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">by </font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Antonio Ferreira Martins</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 11pt;">Name:<font>&nbsp;</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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 11pt;">Guilherme<font>&nbsp;</font>Jos&#233;<font>&nbsp;</font>de<font>&nbsp;</font>Vasconcelos<font>&nbsp;</font>Cerqueira</font></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 11pt;">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 11pt;"><font>&nbsp;</font>CFO</font></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><br></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 11pt;">Name:<font>&nbsp;</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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 11pt;">Antonio Ferreira Martins</font></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 14.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Title: Legal VP</font><br></td>
</tr>

</table>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="display: none; font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the presence of</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000; width: 34%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">/s/</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Jessica Bittencourt Poppe</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Signature of witness</font></p>
</td>
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<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Jessica Bittencourt Poppe</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Name of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Jessica.poppe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">@</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">raizen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.com</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Address of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lawyer</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Occupation of witness</font></p>
</td>
</tr>

</table>
<p style="margin: 4.55pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</div>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 34%;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Executed as a DEED by</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> Lauran&nbsp;Jacques Leon Wetemans</font></font></p>
</td>
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<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL BRAZIL HOLDING B.V. </font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Name: Lauran<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Jacques Leon&nbsp;</font>Wetemans</font></font></td>
</tr>
<tr>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top;"><br></td>
<td style="padding: 0px 0px 0px 20px; vertical-align: top;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp; &nbsp;Diretor&nbsp;Financeiro</font></font><br></td>
</tr>

</table>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="display: none; font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the presence of</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000; width: 34%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">/s/</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Fernando Bento Ferreira</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Signature of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fernando Bento Ferreira</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Name of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rua Mar da Galileia</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Address of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">699, Barueri &#8211; SP</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Finance Analyst</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Occupation of witness</font></p>
</td>
</tr>

</table>
<p style="margin: 4.55pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; 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;"><br></td>
</tr>

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<div>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL UK CO</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 90px; width: 100%;" width="100%">

<tr style="height: 20px;">
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 34%; height: 20px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Executed as a DEED by</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; width: 66%; height: 20px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">)</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> Lauran<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Jacques Leon&nbsp;</font>Wetemans</font></font></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 10px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL OVERSEAS</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">HOLDINGS LIMITED</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 10px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
</td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">&nbsp;</font></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;"><br></td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Name: Lauran<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Jacques Leon&nbsp;</font>Wetemans</font></font></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;"><br></td>
<td style="padding-left: 0.5pt; padding-right: 0.5pt; vertical-align: top; height: 20px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Title:</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp; &nbsp;Diretor&nbsp;Financeiro&nbsp;</font></font><br></td>
</tr>

</table>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="display: none; font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the presence of</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt;" width="100%">

<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000; width: 34%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">/s/</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Maria Celeste Colantonio</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 66%;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Signature of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Maria Celeste Colantonio</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Name of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Diogo Jacome 518, Sao Paulo</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Address of witness</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">04512-001, Brazil</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Engineer</font></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Occupation of witness</font></p>
</td>
</tr>

</table>
<p style="margin: 4.55pt 0pt 0pt 15pt; orphans: 0; widows: 0;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
</div>
</div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SCHEDULE 1</font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="margin: 3pt 81.1pt 0pt 81.25pt; orphans: 0; text-align: center; widows: 0;"><br></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
</div>
<div>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 9.5pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px; height: 462px;" width="100%">

<tr style="height: 90px;">
<td style="vertical-align: top; width: 332.6pt; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 90px;">
<p align="right" style="text-align: right; font-size: 11pt; font-family: 'Times New Roman', 'serif';"><font lang="EN-US" style="font-size: 12pt; font-family: 'times new roman', times;">SCHEDULE 1 JVA ARA</font></p>
<p style="line-height: 13.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="line-height: 13.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><br></font></p>
<p style="line-height: 13.3pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; text-align: right; margin-right: 20pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">EXECUTION VERSION</font></p>
</td>
</tr>
<tr style="height: 231px;">
<td style="vertical-align: top; width: 332.6pt; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; border-bottom: 1pt solid #000000; height: 231px;">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 13pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">COSAN S.A. </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">RA&#205;ZEN S.A.</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">SHELL BRAZIL HOLDING B.V. </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">SHELL OVERSEAS HOLDINGS LIMITED</font></p>
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">COSAN INVESTIMENTOS E PARTICIPACOES S.A.</font></p>
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<td style="vertical-align: top; width: 332.6pt; height: 141px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="line-height: 13.75pt; margin: 0pt 57pt 0pt 16.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">JOINT VENTURE AGREEMENT</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 57.05pt 0pt 16.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">AS AMENDED ON 26 DECEMBER 2013, AND AS</font></p>
<p style="margin: 0pt 57.05pt 0pt 16.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;"> AMENDED AND RESTATED PURSUANT TO </font></p>
<p style="margin: 0pt 57.05pt 0pt 16.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">AMENDMENT AND RESTATEMENT DEEDS </font></p>
<p style="margin: 0pt 57.05pt 0pt 16.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">DATED 22 NOVEMBER 2016, 31 MAY 2021 AND</font></p>
<p style="margin: 0pt 41.05pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;"> 11 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JULY</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2021</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p><br></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<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="text-align: center;"><b style="mso-bidi-font-weight: normal;"><font lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">CONTENTS</font></b></p>
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<td style="height: 52px; width: 93.3769%;"><font style="font-size: 12pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="TOC"></a></font>
<h4 style="vertical-align: middle; text-align: left;"><font style="font-size: 12pt;">Clause</font></h4>
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<h4 style="vertical-align: middle; text-align: right;"><font style="font-size: 12pt;">Page&nbsp;</font></h4>
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<td style="width: 93.3769%; height: 17px;"><font style="font-size: 12pt;"><a href="#BSECTION_L9MP9ZX0GG00000000000000000000">SECTION ONE: INTERPRETATION AND DEFINITIONS</a></font></td>
<td class="bmpageno" style="text-align: right; width: 6.45953%; height: 17px; font-size: 12pt;">4</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Ba_KW34EIIQRK00000000000000000000">1. INTERPRETATION AND DEFINITIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">4</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Bb_Z90NXSMGK000000000000000000000">SECTION TWO: EXERCISE PERIODS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">37</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Bc_EPVYYH12Z400000000000000000000">2. EXTENSION OF EXERCISE PERIODS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">37</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Baa_T6WXTPPL3400000000000000000000">SECTION THREE: DISQUALIFICATION OPTIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">38</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Bbbb_OB8GYREB0W00000000000000000000">3. DISQUALIFICATION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">38</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Bbcbc_3QBH8DY0CW00000000000000000000">4. DISQUALIFICATION CALL OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">40</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Bbvcb_N3WMFNYGU800000000000000000000">5. DISQUALIFICATION PUT OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">42</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Baddg_VTG27BQE9C00000000000000000000">SECTION FOUR: TRANSFER RESTRICTIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">44</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B66_DDWB0TGVR400000000000000000000">6. LOCK-UP PERIOD</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">44</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B7777_00QJ0WHTTC00000000000000000000">7. POST LOCK-UP PERIOD PRE-EMPTION RIGHTS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">45</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B8888_SL0HNJZZGG00000000000000000000">8. UNBOUND SHARES RIGHT OF FIRST REFUSAL</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">50</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B9999_2K876JIFK000000000000000000000">9. INTRA-GROUP TRANSFERS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">55</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#Bkop_B78WCSZIG000000000000000000000">SECTION FIVE: FUNDAMENTAL BREACH</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">58</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B10140_FP48ORLROW00000000000000000000">10. FUNDAMENTAL BREACH</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">58</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B111111_WEQ1L5TLI800000000000000000000">11. COSAN FUNDAMENTAL BREACH OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">59</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B121212_TV5U9NUA5C00000000000000000000">12. SHELL FUNDAMENTAL BREACH OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">61</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B1333333_EHU71WNANK00000000000000000000">SECTION SIX: EVENT TRIGGERED CALL OPTIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">62</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B11113333_XIQZTA22G000000000000000000000">13. CHANGE OF CONTROL</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">62</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B141414_ROHC1NKT2800000000000000000000">14. SHELL FINANCIAL COVENANTS CALL OPTION </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">64</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B151515_ZT9N4I6JUO00000000000000000000">15. SHELL CORPORATE GOVERNANCE CALL OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">66</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B161616_TD9ZMW2LVK00000000000000000000">16. SHELL INVOLUNTARY DELISTING CALL OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">66</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B171717_8L0MBBJANK00000000000000000000">17. EXERCISING CALL OPTIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">67</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B18_RNUYB4BTVK00000000000000000000">SECTION SEVEN: OPTION COMPLETION </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">69</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B181818_KGOPILR4J400000000000000000000">18. DETERMINATION OF VALID OPTION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">69</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B191919_86VHPOTK9S00000000000000000000">19. INTERACTION BETWEEN COSAN S.A. AND COSAN INVESTIMENTOS IN RELATION TO THE EXERCISE OF OPTIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">69</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B202020_HNIJIN0A4W00000000000000000000">20. VALUATION AND DOWNSTREAM CO VALUE </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">69</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B212112_QKLQSJL31S00000000000000000000">21. PAYMENTS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">72</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B2222221_Y1QXTJILGG00000000000000000000">22. OPTION COMPLETION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">74</td>
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<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B238_PFEF28VY6800000000000000000000">SECTION EIGHT: REPRESENTATIONS AND WARRANTIES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">75</td>
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<td style="height: 10px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B23232323_6S0JRYZFWW00000000000000000000">23. SHELL WARRANTIES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 10px; width: 6.45953%; font-size: 12pt;">75</td>
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<tr style="height: 17px;">
<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B242424_6BNV41ZSZ400000000000000000000">24. COSAN WARRANTIES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">75</td>
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<tr style="height: 17px;">
<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B252525_74KKVH4SXC00000000000000000000">25. THIRD PARTY WARRANTIES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">76</td>
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<tr style="height: 17px;">
<td style="height: 17px; width: 93.3769%;"><font style="font-size: 12pt;"><a href="#B269_ZDZTM4A79S00000000000000000000">SECTION NINE COVENANTS OF THE PARTIES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 6.45953%; font-size: 12pt;">76</td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno">i</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="height: 10px; width: 94.6852%;"><font style="font-size: 12pt;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#" name="TOC"></a></font>
<h4 style="vertical-align: middle; text-align: left;"><br></h4>
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<td style="height: 10px; width: 5.15127%;">
<h4 style="vertical-align: middle; text-align: right;"><br></h4>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B262626_86Y9BUQ2Y800000000000000000000">26. COMPLIANCE WITH AGREEMENT</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">76</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B272727_QM41SPPYOW00000000000000000000">27. TRANSFER OF SHARES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">77</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B282828_QSVQU8UHTS00000000000000000000">28. ENCUMBRANCES </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">80</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B292929_U03BYWK47400000000000000000000">29. REORGANIZATIONS</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">80</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B303030_WONC8R4VEO00000000000000000000">30. CONFIDENTIALITY </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">80</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B3110aaa_HXT6UOCL4000000000000000000000">SECTION TEN: GENERAL</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">81</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#Bsass31_623HCG3CXS00000000000000000000">31. NOTICES</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">81</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#Ba3232_59N9P7V8A800000000000000000000">32. TERM AND TERMINATION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">84</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B33aaaa_KHSUSGAUJK00000000000000000000">33. NO RIGHT OF RESCISSION</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">85</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#Baass34_HTKYDKGO1S00000000000000000000">34. GENERAL </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">85</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B35aaaaac_Z020OF7LW000000000000000000000">35. GOVERNING LAW </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">86</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B36666a_K84TQP7VWW00000000000000000000">36. GOVERNING LANGUAGE</a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">86</font></td>
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<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><a href="#B37qqqqq_5IKJX3ELGG00000000000000000000">37. ARBITRATION </a></font></td>
<td class="bmpageno" style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">86</font></td>
</tr>
<tr style="height: 20px;">
<td style="height: 20px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Shell Warranties</font></font></td>
<td style="text-align: right; height: 20px; width: 5.15127%;"><font style="font-size: 12pt;">92</font></td>
</tr>
<tr style="height: 20px;">
<td style="height: 20px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Cosan&nbsp;Warranties</font></font></td>
<td style="text-align: right; height: 20px; width: 5.15127%;"><font style="font-size: 12pt;">92</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 3 Third</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: 0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Warranties</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">92</font></td>
</tr>
<tr style="height: 18px;">
<td style="height: 18px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 4 Form of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Exercise Notice</font></font></td>
<td style="text-align: right; height: 18px; width: 5.15127%;"><font style="font-size: 12pt;">92</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 5 Form of Third Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Off</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">er Notice</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">92</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 6 Form of Extension Request Notice and Extension</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Request Confirmation</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">94</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 7 Deed</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of Adherence</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">99</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 8 Form of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Share</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Pledge</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">100</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Schedule 9 Non Cash on Completion Consideration Value</font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">105</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 10 Adjusted Financial</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Statements Example</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">106</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Schedule 11</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Calculations</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: 0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Spreadsheet</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><font style="font-size: 12pt;">107</font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 94.6852%;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">SIGNATURES</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;&nbsp;</font></font></td>
<td style="text-align: right; height: 17px; width: 5.15127%;"><br></td>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;">&nbsp;</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">ii</font></td>
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</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 10.65pt 9.7pt 0pt 10pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">THIS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JOINT</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">VENTURE</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">AGREEMENT</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">originally</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">dated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">June</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">2011,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">amended</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">26 December 2013, and as amended and restated on 22 November 2016, 31 May 2021 and on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> the Amendment and Restatement Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">between:&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">PARTIES</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;">(1)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, (formerly known as Cosan S.A. Ind&#250;stria e Com&#233;rcio), a company organized and existing under the laws of Brazil, with its head office in the City of S&#227;o Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">State</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Avenida</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16th</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">floor,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">room</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1, Itaim Bibi, CEP 04538-132, enrolled with the Brazilian tax registry under No. 50.746.577/0001-15 ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;">(2)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN INVESTIMENTOS E PARTICIPACOES S.A</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. a company incorporated under the laws of Brazil and</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> whose registered office is at City of Sao Paulo, State of Sao</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Avenida</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16th</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">floor,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">room</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Itaim</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bibi,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">CEP 04538-132, enrolled with the Brazilian tax registry under No. 18.777.673/0001-18 ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">gether with Cosan S.A. collectively,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;">(3)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RA&#205;ZEN S.A. </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(formerly known as Ra&#237;zen Combust&#237;veis S.A.), a company organized and existing under the laws of Brazil, with its head office at City of Rio de Janeiro, State of Rio de Janeiro, at Avenida Almiran</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">te Barroso, 81, 36th floor, room 36A104, CEP 20.031-004, enrolled with the Brazilian tax registry under No. 33.453.598/0001- 23 (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;">(4)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL BRAZIL HOLDING B.V.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, a company incorporated under the laws of the Netherlands with registered number 27192050 0000 and whose registered office is at Carel van Bylandtlaan 30, 2596HR 's-Gravenhage, The Netherlands ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;">(5)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL OVERSEAS HOLDINGS LIMITED</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, a company inc</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">orporated under the laws of England with registered number 00596107 and whose registered office is at Shell Centre, London, SE1 7NA ("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell UK</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>1</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">REC</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ITALS</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Framework</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">defined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell agreed to establish the Joint Venture (as defined below) to combine certain of their assets primarily in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(B)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan and Shell have an equal economic interest in the Joint Venture and as a general principle, Cosan and Shell will share the profits, losses, access to cash flows </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">economic interest of the Joint Venture</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equally.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(C)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Prior to the JV Reorganisation, the J</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">oint Venture comprised the Sugar and Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co, which held the sugar, ethanol, energy cogeneration and certain other assets of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Joint Venture, and the Downstream Co which held the downstream and certain other assets of the Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(D)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Prior to the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV Reorganisation, the voting capital of each of the Sugar and Ethanol Co and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">was</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">divided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">common</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(comprising</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">99.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of voting capital) and 1 preferred 'A' share (comprising 0.1 per cent. of voting capital); each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cos</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">owned,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirectly,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">common</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shares in each of the Sugar and Ethanol Co and the Downstream Co; Cosan directly owned the preferred 'A' share in the Sugar and Ethanol Co and Shell directly owned the preferred 'A' share in the Downstream Co, such that Cosan directly owned 50 per cent. pl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">us 1 share of the total voting capital of the Sugar and Ethanol Co and Shell directly owned 50 per cent. plus 1 share of the total voting capital of the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(E)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Certain preferred 'B' and 'E' shares were allocated among Cosan and Shell and had certa</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in economic (but not voting) rights to compensate Cosan and/or Shell for contributing certain goodwill and NOLs (as defined in the Framework Agreement) to the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">contributions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">render</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tax</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">benefit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Certain preferred '</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">D' shares were allocated to Shell and had certain economic (but not voting) rights to compensate Shell for certain governance issues.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(F)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Prior to the JV Reorganisation, the shareholders' agreements in respect of each of the Sugar and Ethanol Co and the Downs</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tream Co governed the scope of the business of the Joint Venture, certain matters relating to governance (which as a general principle were shared between Cosan and Shell equally), acquisitions, dividends and distributions, as well as the general principle</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s that governed Cosan's and Shell's relationship as shareholders of the Sugar and Ethanol Co and the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(G)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">An Operating and Coordination Agreement (as defined below) sets out certain terms pertaining</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">coordination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sugar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and specifies certain, principles, policies, targets and processes of the Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(H)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM and Aguassanta have entered into the ROSM Agreement with Shell and Shell UK</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">setting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">certain</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Aguassanta's indirect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interests</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Aguassanta's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">activities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect of the Business (as defined in the Framework</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(I)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Management Compensation Plan (as defined in the Framework Agreement) rewards certain members of the management of the Joint Venture for success in their respective roles.</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(J)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">31</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">May</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2021,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amendment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">res</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant to which this Agreement was amended and restated in the form set out in schedule 1 thereto (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Interim</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JVA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(K)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On 1 June 2021, Cosan and Shell, among others, effected a corporate reorganisation through which the Downstream Co becam</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e the owner of 100 per cent. of the common shares of Sugar and Ethanol Co (less 1 common share owned by each of Cosan and Shell), and the preferred 'A' shares, preferred &#8216;B&#8217; shares, preferred &#8216;D&#8217; Shares and preferred &#8216;E&#8217; shares in the Downstream Co and in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Sugar and Ethanol Co were repurchased and cancelled or converted into common shares (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JV Reorganisation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(L)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On 8 February 2021, Cosan and Shell, among others, entered into the Biosev Acquisition</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">defined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">H&#233;der</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acquire certain class F non-redeemable preferred shares (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev Regular Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") and class G redeemable preferred shares (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev Redeemable Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and, together with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Regular</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream Co. Biosev Completion (as defined below) may occur prior to, on or after the Amendment and Restatement Date. If Biosev Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurred:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 73.85pt; orphans: 0; text-align: justify; text-indent: -28.45pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prior to the Amendment and Restatement Date, the Biosev Shares will have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been allotted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">H&#233;dera,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">up</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">H&#233;dera's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">economic</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4.99</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">IPO</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurring,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have redeemed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Redeemable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resulting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">H&#233;dera's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">economic</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest in the Downstream Co being reduced at the time of the IPO;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 73.85pt; orphans: 0; text-align: justify; text-indent: -28.45pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Amendment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Regular</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares will have been allotted to H&#233;dera, upon which H&#233;dera's economic interest in the Downstream Co will have b</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">een 3.50 per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(M)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On the Amendment and Restatement Date, the IPO of Downstream Co occurred and the Interim JVA was amended and restated by the Amendment and Restatement </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">Deed, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the form set out in schedule 1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereto.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;">(N)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Parties have entered into this Agreement to document their agreement relating to the rights and obligations in respect of their interests in the Downstream Co and to provide for certain options whereby Cosan or Shell may acquire the other's interest in</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">certain</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lock-up</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provisions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remedies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">breaches of the documentation governing the establishment and operation of the Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>3</font></font></td>
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<p style="margin: 4.5pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">THE PARTIES HEREBY AGREE AS FOLLOWS:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="BSECTION_L9MP9ZX0GG00000000000000000000" class="customBookmark">SECTION</a> ONE: INTERPRETATION AND DEFINITIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">1.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Ba_KW34EIIQRK00000000000000000000" class="customBookmark">INTERPRETATION</a> AND</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">DEFINITIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 10.35pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Capitalized terms used in this Agreement shall have the meanings ascribed to them as follows:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">2016 Amendment and Restatement Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the effective date on which this Agreeme</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nt was amended and restated pursuant to the 2016 Amendment and Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deed;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">2016 Amendment and Restatement Deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the deed dated on or about 22 November 2016 between (among others) the Parties amending and restating this Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Acceptable Rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of a Brazilian Party, greater than or equal to the higher</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the sovereign Rating for the government of Brazil;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(B)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">BB- by S&amp;P and/or Fitch and/or Ba3 by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Moody's;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">person,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">BBB-</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">higher</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&amp;P</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fitch and/or Baa3 or higher by Moody's; or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if all of the Credit Rating Agencies cease to function or no longer provide a ratings service generally or decline to provide a Rating for a&nbsp; Person, a comparable Rating to t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hose specified in paragraph (a) or (b) above (as applicable) from an internationally recognised credit rating agency of equivalent standing (other than S&amp;P, Fitch and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Moody's),</font></p>
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<p style="margin: 0pt 9.6pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, if the Person to be rated does not have any rated senior unsecured debt that is outstanding at that time, then such Person's senior unsecured debt shall be deemed to be rated at those ratings as such Credit Rating Agency may assign to the senior unsecure</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d debt of that Person on a "shadow rating" or "indicative rating" basis within 6 months of such date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 95.1pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Acceptance Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning prescribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 95.1pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Accounting Principles</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means IFRS from time to time;</font></p>
<p style="margin: 0.05pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Accrued Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any interest accrued by a Payor pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.2.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and any default interest accrued by a Payor pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ctual Awareness</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means in relation to a Shareholder the actual knowledge of its directors and the knowledge, information and belief which the directors would have had if they had made all reasonable enquiries of the executive board (or equivalent) of</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any Controlling Entity, the general counsel of each of the Shareholder and any Controlling Entity and/or the senior personnel responsible for the relevant business units of each of the Shareholder and any Controlling Entity;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Adjusted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> EBITDA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of any Relevant Period:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consolidated net sales; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">minus</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consolidated cost of sales and services;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">minus</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consolidated general and administrative expenses and selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expenses;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">plus/minus</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.1pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consolidated equity pick up income from associates;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">plus</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any depreciation or amortisation included in any of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">foregoing,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">calculated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extracting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">line</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">items from the Adjusted Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and prepared in accordance with the Accounting Principles by applying the same accounting policies, treatments, practices and categorisations, including in relation to the exercise of discretion and judgement, that were used in the Annual Financial Statem</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ents for the Financial Year ended 31 December 2019 to the extent consistent with the Accounting Principles in force at the relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Adjusted Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the spreadsheet prepared by Topco substantially in the form of the Adjusted Fin</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ancial Statements Example and provided to Shell in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.3 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of this Agreement by making the following adjustments to the Starting Financial Statements in respect of the Relevant Period:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.3pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for as long as a m</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ember of the Cosan Group holds a Controlling Interest in the Downstream Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in relation to any Cosan JV, Cosan may elect, at its sole discretion, to proportionally consolidate 50 per cent. of the financial results of such Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">income</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">balance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sheet,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, in relation to any Cosan JV other than the Downstream Co, the Cosan JV has published the Cosan JV Accounts for the Relevant Period on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the investor relations area of the Cosan JV's or Cosan Topco's public webs</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ite;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for any Relevant Period in respect of which Rumo has published the Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Accounts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">investor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">area</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rumo's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">public</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">website:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extracting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fully</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consolidated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">results</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the income statement and the balance sheet;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;">(B)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">adding back in the proportional financial results of Rumo in the income</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">balance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sheet</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">share capital held by Cosan Topco or a member of the Cosan Group (as applicable) in Rumo; and</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>5</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">adjustment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">results</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Minority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which Shell has provided its prior written consent;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only taking into account any derivative transaction entered into in connection with protection against or benefit from fluctuation in any currency</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or interest rate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">linked</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Group's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Indebtedness</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(save</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indebtedness</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(g)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">definition</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Indebtedness")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and extracting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provision</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">made</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">derivative</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transaction</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any commodities derivative transaction (and, when calculating the value of any derivative</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transaction,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">marked</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">market</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">actual</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount is due as a result of the termination or close-out of that der</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ivative transaction, that amount) shall be taken into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">account);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Adjusted Financial Statements Example</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the spreadsheet included at </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 10 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to this Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ADTV</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means average daily trading volume;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Affiliate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to any Person, a Subsidiary of that Person or a Holding Company</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Subsidiary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Holding</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Company;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, neither</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Subsidiary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliate of any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Aguassanta</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Aguassanta</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Participa&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">company</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">organised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">existing under the laws of Brazil, with its head office at Avenida Brigadeiro Faria Lima No. 4100, 16th floor, room 08, Zip Code 04538-132, S&#227;o Paulo, SP, Brazil, enrol</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">led with the Brazilian tax registry under number</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">07.198.897/0001-59;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Amendment and Restatement Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Effective Date (as defined in the Amendment and Restatement Deed) on which this Agreement was amended and restated pursuant to the Amendment an</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d Restatement Deed;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Amendment and Restatement Deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the deed dated on or about</font><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;"> 11 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">July&nbsp;&nbsp; 2021 between the Parties amending and restating the Interim</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JVA;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Annual Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the audited consolidated financial statements of the Group</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> for the relevant Financial Year;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Anti-Corruption Law</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the US Foreign Corrupt Practices Act of 1977, the United</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Kingdom</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Prevention</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Corruption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Acts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1889</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1916</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bribery</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Act</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2010, Brazilian Federal Law No. 8,429 of 2 June 1992 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Lei de Improbidade Administrativa</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), Brazilian Decree (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Decreto</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) 4,410 of October 7, 2002 (Interamerican Convention Against Corruption), Brazilian Decree (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Decreto</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) 5,687 of January 31, 2006 (United Nations Convention Against Corruption), Brazilian Law No. 9,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">613 dated March 3, 1998 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Lei de Preven&#231;&#227;o &#224; Lavagem de Dinheiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), Brazilian La</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">w No. 8,666 dated June 21, 1993 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Lei de Licita&#231;&#245;es e Contratos Administrativos</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), Brazilian Law No. 14,133 dated April 1, 2021 (the new &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Lei de Licita&#231;&#245;es e Contratos Administrati</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">vos</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) and Brazilian Federal Law No. 12,846 of 1 August 2013 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Lei da Empresa Limpa</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), or any applicable law of similar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">effect;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Arbitrator</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitral</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">panel</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">validly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">appointed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</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'>6</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; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Beneficial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Owner</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">security</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirectly,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">through any contract, arrangement, understanding, relationship, or otherwise has or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shares:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">voting power in, which includes the power to vote or to direct the voting of, such security;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">investment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">power</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">includes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">power</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">direct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer of, such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">security,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and each of the terms "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Beneficially Own</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Benefici</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ally Owned</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has a corollary meaning;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8221; means Biosev S.A., a publicly-held joint-stock company (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">sociedade por a&#231;&#245;es de capital aberto</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) duly incorporated under the laws of Brazil, with its headquarters</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">city</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">State</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Av.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima, No. 1355, 11th floor, Zip Code 01.452-919, enrolled with the CNPJ under No. 15.527.906/0001-36;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev Acquisition Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the acquisition agreement dated 8 February 2021 and entered into between H&#233;dera, Louis Dreyfus</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Commodities and Energy Holdings N.V., Biosev S.A., the Downstream Co, Sugar and Ethanol Co, Cosan S.A., Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">H&#233;dera</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acquire</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Biosev Shares;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurrence</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"Closing"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">und</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">er</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Acquisition Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev Redeemable Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(L) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Recitals;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Regular</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ascribed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(L)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Recitals; "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Biosev Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(L) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Recitals;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Bound Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means in respect of each of Cosan and Shell (subject to Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.4.4(e) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.5.4(e)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">):</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;"><br></font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="vertical-align: top; width: 5%; padding: 1px 1px 10px;" valign="top"><br></td>
<td style="vertical-align: top; width: 3%; padding: 1px 1px 10px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="vertical-align: top; width: 92%; padding: 1px 1px 10px;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">number</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">ordinary</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">shares</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">equal to the aggregate of 4,496,786,292, less the number of Unbound Shares which are ordinary shares held by Cosan or Shell (as applicable) in the capital of the Downstream Co at the Termination Announcement Date;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">and</font></td>
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<td style="vertical-align: top;" valign="top"><br></td>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="vertical-align: top;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">new</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">issued</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Shell<font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Co following the IPO, including pursuant to any share splits of existing Bound Shares or share subscriptions (unless otherwise agreed to in writing in advance by the<font>&nbsp;</font>Cosan<font>&nbsp;</font>Shareholder Representative and the Shell<font>&nbsp;</font>Shareh</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">older Representative),</font></td>
</tr>

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<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">provided that in the case of each of (a) and (b), the Bound Shares shall not include any Unbound Shares;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<div>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">

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

</table>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">generated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">70</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">more of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">gross</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">annual</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">revenue</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">trading</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exports</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">based on its most recent annual audited financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statements;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 10.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 69.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach Notice Recipient</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 10.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 69.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach Notice Sender</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">BRL</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">real </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or, if there is more than one, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">reais</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the lawful currency of Brazil;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 6.05pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Business Day</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a day, other than a Saturday or Sunday or public holiday in S&#227;o Paulo, Brazil and/or London, England;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Byelaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to an entity, corporate byelaws or constitutional documents (including any </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Contrato social </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Estatuto social);</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">B3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Brazilian stock exchange, B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Calculations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Spreadsheet</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">spreadsheet</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">setting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">details</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">calculations undertaken to produce the Starting Financial Statements substantially in the form set out in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 11 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Call Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Shell Event Triggered Call Options, t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Cosan Change of Control Option, the Exercising Shareholder Change of Control Option and/or (in the event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Change</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell Change of Control Option (as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Call Option Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a Shell Call Option Trigger Event, a Shell Change of Control Event, a New Shareholder Change of Control Event and/or (in the event the Shell Change of Control Option is exercised by a New Shareholder) a Cosan Change of Control Event (as applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Triggered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise Period, the Cosan Change of Control Option Exercise Period and/or the Exercising Shareholder Change of Control Option Exercise Period (as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cash</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cash E</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">quivalents</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" have the meaning ascribed to those terms in IAS 7 and to the extent applicable, calculated (i) using the exchange rates used in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">preparation of the applicable Starting Financial Statements and (ii) by extracting the relevant line items from the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Adjusted Financial Statements and prepared in accordance with the Accounting Principles by applying the same accounting policies, treatments, practices and categorisations, including in relation to the exercise of discretion and judgement, that were used i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n the Annual Financial Statements for the Financial Year ended 31 December 2019 to the extent consistent with the Accounting Principles in force at the relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">CEO</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to an entity, the chief executive officer (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">diretor presidente</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) of such entity;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Certificate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph 8 of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</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'>8</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Commencement Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the publication of the announcement (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">An&#250;ncio de In&#237;cio de Oferta P&#250;blica de Di</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">stribui&#231;&#227;o de A&#231;&#245;es Preferenciais de Emiss&#227;o da Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) informing the market of the beginning of the distribution of preferred shares issued by the Downstream Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Compliance Certificate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Confidential Information</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any information concerning any Party, whether</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or not in the possession of another Party before 1 June 2011, and which relates to trade secrets, proprietary information, the marketing of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">goods or services (including names, lists</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">details</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">customers,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sales</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">targets,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sales</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statistics,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">market</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">share</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statistics, prices, market research reports and surveys, advertising or promotional materials and strategies), future projects, business</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> development or planning, commercial relationships, negotiations and business strategy; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Confidential Information</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" does not include information</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that:</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
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<td style="vertical-align: top; width: 3%; padding: 1px 1px 10px; height: 41px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.25pt;">(a)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></font></td>
<td style="vertical-align: top; width: 92%; padding: 1px 1px 10px; height: 41px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">is or becomes generally available to the public other than as a result of a disclosure by a</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Party, any of its Affiliates or its or their Representatives in violation of this Agreement or any other Transaction</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Document;</font></font></td>
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<td style="vertical-align: top; height: 20px; padding: 1px 1px 10px;" valign="top"><br></td>
<td style="vertical-align: top; height: 20px; padding: 1px 1px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.25pt;">(b)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></font></td>
<td style="vertical-align: top; height: 20px; padding: 1px 1px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">was available to such Party on a non-confidential basis prior to its disclosure</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.8pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to such Party or its Representatives;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">or</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; height: 17px;"><br></td>
<td style="vertical-align: top; height: 17px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.3pt;">(c)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></font></td>
<td style="vertical-align: top; height: 17px;"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">b</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ecomes</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">available</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">such</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">on</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">a</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">non-confidential</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">basis</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">from</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">a</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">source</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">other than a JV Entity after the disclosure of such information to such Party or any Party's Representative by the JV Entity, which source is (at the time of receipt of the relevant information) not, to such Party's knowledge, bound by a confidentiality ag</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">reement&nbsp;with (or other confidentiality obligation to) such JV Entity or another</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Person;</font></font></td>
</tr>

</table>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided, further that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, notwithstanding anything to the contrary contained herein, Confidential Information in the possession of Cosan, Shell or any of their respectiv</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e Subsidiaries prior to 1 June 2011 shall, notwithstanding the foregoing exceptions in paragraphs </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(c), </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remain Confidential Information hereunder and Cosan and Shell shall be obligated to ke</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ep or to cause to be kept such information confidential as fully as if they did not have access to such information prior to the date of this Agreement but only received it after 1 June 2011;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Consolidated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Tangible</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Net</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Worth</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">calculate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extracting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">line items from the Adjusted Financial Statements, the aggregate of the amounts paid up</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or credited as paid up on the issued ordinary share capital of Topco and the aggregate amount of the reserves of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Group,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">including:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any amount cred</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ited to the share premium</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">account;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any amount credited as additional paid-in capital in accordance with the Accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Principles;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any capital redemption reserve</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fund;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</div>
<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></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'>9</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any balance standing to the credit of the consolidated income statement of the Group;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">attributable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">owners</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">parent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">non-controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interests, but</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deducting:</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(f)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any debit balance on the consolidated income statement of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Group</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(g)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(to the extent included) any amount shown in respect of goodwill (including goodwill arising only on consolidation) or other intangible assets of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Group;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(h)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(to the extent included) any amount set aside for taxation, deferred taxation or bad</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">debts;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">y amount in respect of any dividend or distribution declared, recommended or made by any member of the Group to the extent payable to a person who is not a member of the Group and to the extent such distribution is not provided for in the most recent finan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cial statements;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(j)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">non-controlling interests at Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">level,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and so that no amount shall be included or excluded more than once;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Consolidated Total Debt</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, at any time, calculated by extracting line items from the Adjusted Financial Statements, the aggregate outstanding principal, capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or nominal amount of all obligations of each member of the Group for or in respect of Financial Indebtedness, inc</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">luding any Financial Indebtedness of the JV Entities (without double counting) entered into under the Special Agriculture Industry Securitization Program - PESA (established in February 1998) in relation to which the JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">granted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pledges</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">over</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">CTNs</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">their</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">financing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">banks</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">support</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such Financial Indebtedness and deducting the amortized book value of the CTNs in accordance with the Accounting Principles, and so that no amount shall be included or excluded more than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">once;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Consolidated Tota</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">l Net Debt</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Consolidated Total Debt but deducting the aggregate amount of Cash, Cash Equivalents and Marketable Securities held by any member of the Group at that time, and so that no amount shall be included or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">excluded more than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">once;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Continuing </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.3.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ordinary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing Shareholder or (ii) a company which has a Controlling Interest in the Continuin</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">g Shareholder, in each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which are listed on a Recognised Stock</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exchange;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which have an ADTV for the preceding 90 days equal to or greater than US$11,000,000 (or its equivalent in any currency);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>10</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.8pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">form</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">more</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">listed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">securities of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entity;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Continuing Shareholder Securities Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the value of the Continuing Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">being</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">volume</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">weighted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">average</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">price of such Continuing Shareholder Securities for the 30 days prior to the Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the power of a Person (or Persons acting in concert) (being the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Controller</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") to secure that the affairs of another are conducted directly or indir</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ectly (through one or more companies each of which is Controlled directly or indirectly by the Controller) in accordance with the wishes of the Controller whether by means of being the Beneficial Owner(s) of more than 50 per cent. of the issued share capit</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">al of or entitled to exercise more than 50 per cent. of the voting rights in that company, or having the right to appoint or remove a majority of the directors or otherwise control a majority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">votes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">board</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meetings</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">company</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">virtue</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">attaching to securities held or powers conferred by the Byelaws, any shareholders' agreement or any other document regulating the affairs of that company and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Controlled by</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" shall be construed accordingly; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, notwithstanding the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">foregoin</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">g:</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of the Downstream Co:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan, Shell, any New Cosan Shareholder and any New Shell Shareholder will be deemed to have Control of the Downstream Co if they are entitled directly to exercise all of the rights attaching to the Bound Shares which </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">form part of the entire Cosan Total Interest in respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">form</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entire</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">these</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purposes,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Shell Total Interest shall include all of those Bound Shares which form part of the Cosan Total Interest and the Shell Total Interest as at the Amendment and Restatement Date;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deemed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co if</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> they directly or indirectly Control Cosan, Shell, the New Cosan Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">long as such Shareholder has Control of the Downstream Co in accordance with paragraph (a)(i) above) in accordance with the above provisions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of this definition of Control, provided that for the purposes of this paragraph (ii), Aguassanta and ROSM shall eac</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">h be deemed to be Persons who have direct or indirect Control of Cosan S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">until:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Aguassanta or ROSM ceases directly or indirectly to: (i) be the Beneficial Owner of 30 per cent. or more of the issued share capital of Cosan S.A.; (ii) have the unfettered</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> right to exercise 30 per cent. or more of the voting rights in Cosan S.A.; or (iii) have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">appoint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remove</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">majority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directors</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of Cosan S.A.;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(B)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a material amendment is made to the "poison pill" article, as provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">article</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Byelaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approved on 22 January 2021, which amendment is not approved in advance by ROSM;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in no event shall any JV Entity be deemed an Affiliate or Subsidiary of any Shareholder or any of its respective Subsidiaries or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliates;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Controlling Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">long</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been transferred in accordance </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with Clause 9.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> is a Shareholder, any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in which ROSM, or after the Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement has a Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which has its securities liste</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d on a Recognised Stock Exchange;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which has a Controlling Interest in the Downstream Co;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following a Transfer by Cosan or any Cosan Transferor of the Cosan Total Interest to a New Cosan Shareholder (other than a New Cosan Shareholder to which Sha</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">res have been transferred in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), any Person:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controller</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which has a Controlling Interest in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Controlling Entity Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the audited consolidated or unconsolidated, as appropriate, annual financial statements of that Controlling Entity produced in accordance with the relevant Mandatory Compliance Regime;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Controlling Group</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" mea</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ns Topco and each Subsidiary of Topco from time to time that has a Controlling Interest in the Downstream Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Controlling Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to an entity, a direct or indirect interest in relation to such entity which confers Control;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Corpora</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">te Governance Default</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the two Persons described as such in the Parties section of this Agreement and any other New Cosan Shareholder who becomes "Cosan" for the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purposes of this Agreement by execution of a Deed of Adherence pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Change</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transaction,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other arrangement which, or any series of transactions, agreements, transfers or other arrangement which cumulatively, results</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="width: 3%; padding: 0px 0px 10px; vertical-align: top; height: 20px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="width: 92%; padding: 0px 0px 10px; vertical-align: top; height: 20px;" valign="top"><font 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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">prior to the Post ROSM Date,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">ROSM;</font></td>
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<td style="vertical-align: top; padding: 0px 0px 10px; height: 18px;" valign="top"><br></td>
<td style="vertical-align: top; padding: 0px 0px 10px; height: 18px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="vertical-align: top; padding: 0px 0px 10px; height: 18px;" valign="top"><font style="text-indent: -36.05pt; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">from the ROSM Transition Period Start Date until the ROSM Transition Period End Date, ROSM and/or the ROSM Transition Period Qualifying Replacements;&nbsp;</font></font><br></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>12</font></font></td>
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<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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on or at any time after the ROSM Transition Period End Date, ROSM and/or a ROSM Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Replacement,</font></p>
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<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">no longer having a Controlling Interest in the Downstream Co, ex</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cluding any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transfer (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i) required to implement ROSM's will, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such transfer ultimately results in the transfer of ROSM's Controlling Interest in the Downstream Co to a ROSM Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Replacement,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deceased,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">i)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM Qualifying Replacement in the event a ROSM Transition Period Qualifying Replacement is determined Deceased between the ROSM Transition Period Start Date and the ROSM Transition Period End</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Change of Control Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to Shell under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Change of Control Option Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Debt Default</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any:</font></p>
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<td style="width: 5%; padding: 0px 0px 10px; vertical-align: top;" valign="top"><br></td>
<td style="width: 3%; padding: 0px 0px 10px; vertical-align: top;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="width: 92%; padding: 0px 0px 10px; vertical-align: top;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Fina</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">ncial<font>&nbsp;</font>Indebtedness of any member of the Controlling Group is not paid when due in accordance with the relevant finance documentation or is validly declared</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">becomes</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">due</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">payable</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">prior</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">stated</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">maturity in accordance with the<font>&nbsp;</font>relev</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">ant finance documentation;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">or</font></td>
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<td style="vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="text-align: justify; text-indent: -36pt; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">creditor or creditors of any member of the Controlling Group become entitled in accordance with the relevant finance documentation to declare any of its Financial Indebtedness due and payable prior to its specified maturity in accordance with the relevant<font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">finance</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">documentation,</font></font><br></td>
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<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">:</font></p>
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<td style="padding: 0px 0px 10px; vertical-align: top; width: 8.60998%;" valign="top"><br></td>
<td style="padding: 0px 0px 10px; vertical-align: top; width: 3.08176%;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></font></td>
<td style="padding: 0px 0px 10px; vertical-align: top; width: 88.3083%;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">for the avoidance of doubt, if the relevant member of the Controlling Group has the ability to cure the default and/or the accelerated</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"><font>&nbsp;</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: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">payment under paragraphs (a) and (b) above, in accordance with the relevant finance documentation, they have failed to cure such default and/or make the required accelerated payment within the applicable period set out in the relevant finance documentation</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"><font>&nbsp;</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: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">and</font></td>
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<td style="vertical-align: top; padding: 0px 0px 10px; width: 3.08176%;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></font></td>
<td style="vertical-align: top; padding: 0px 0px 10px; width: 88.3083%;" valign="top"><font style="font-family: 'Times New Roman'; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the aggregate amount of all such Financial Indebtedness under paragraphs (a) and/or (b) above is more than US$50,000,000<font>&nbsp;</font></font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(or<font>&nbsp;</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: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">equivalent amount in any other currency using the exchange rates used in the preparation of the previous Starting Financial</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Statements);&nbsp;</font> </font><br></td>
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<font style="font-family: 'Times New Roman'; font-size: 7pt; text-align: justify; text-indent: -36.05pt;">&nbsp;&nbsp;</font>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Downstream Co Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the value of Cosan's legal and beneficial interest in the Downstream Co, as calculated from the Downstream Co Value;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Downstream Valuation Range</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Downstream Valuation Range determined by the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Valuer in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Financial Covenant Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 14.1.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>13</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Fundamental Breach Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to Cosan in Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Fundamental Breach Option Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, where the Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">committed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(either</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">between</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties or as determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), the period commencing on the date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Breach Notice to the date which is 90 days after such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Group</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Cosan Topco and each Subsidiary of Cosan Topco </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from time to time that has a Controlling Interest in the Downstream Co;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means (i) any JV (including the Downstream Co) in which Cosan Topco or a member of the Cosan Group holds 50 per cent. of the voting rights ordinarily exercisable at general</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> meetings (excluding, for the avoidance of doubt, any limited voting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">attached</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">preferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii) the Downstream Co (if Cosan Topco or a member of the Cosan Group holds less than 50 per cent. of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> voting rights ordinarily exercisable at general meetings (excluding, for the avoidance of doubt, any limited voting rights attached to the preferred shares in the capital of the Downstream Co) in the Downstream Co);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Accounts</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Annual</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan JV Quarterly Financial Statements, as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan JV Annual Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means (i) the audited combined consolidated financial statements, or (ii) the audited consolidated financial statements of any Cosan JV and its Subsidiaries for the relevant Financial Year;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan JV Quarterly Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means (i) the combine</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d consolidated financial statements, or (ii) the consolidated financial statements of any Cosan JV and its Subsidiaries for the relevant Financial Quarter;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 6.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Limited</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Cosan Limited, a company formerly incorporated under the laws</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bermuda</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whose</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">registered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">office</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">was</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Crawford</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">House,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cedar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Avenue, Hamilton HM 11, Bermuda and was merged into Cosan S.A. on 22 January,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2021;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Shareholder Representative</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the "Shareholder Representative" appointed by Cosan pursuant to Section 4.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">01 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Shareholder Representatives</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) of the Shareholders' Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the highest Cosan Controlling Entity;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Total Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Cosan's entire direct holding of Shares in the Downstream Co (including its Bound Shares and Unbound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hares);</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Warranty</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a statement contained in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Warranties</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means all such statements;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Credit Rating Agency</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any of S&amp;P, Fitch or Moody's;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>14</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">CTNs</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Brazilian government bonds with a 20 year original maturity and falling due between 2018 and 2025 in relation to the Special Agriculture Industry Securitization Program - PESA (established in February 1998);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Death Certificate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a death c</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ertificate or medical certificate of the cause of death (including a </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Certid&#227;o de &#243;bito</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), evidencing the death of a Person or the fact that a Person has been officially deemed deceased in absentia, issued by a governmental or other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">recognized</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">regulatory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">bod</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">y</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">jurisdiction</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">authorized</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">laws of such jurisdiction to issue such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">certificates;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.2pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Deceased</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to a Person, that such Person is deceased (or officially deemed deceased in absentia) as certified pursuant to a Death </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Certificate;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Deed of Adherence</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a deed of adherence substantially in the form set out in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 7 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to be executed by any Person who becomes a Shareholder in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Default Interest Rate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of BRL amounts, a per annum rate of interest equal to two per cent. above SELIC;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of US$ amounts, a per annum rate of interest equal to three per cent. above</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">SOFR,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if such rate is determined unenforceable, the Default Interest Rate shall be the next highest rate as would be enforceable under English Law, and the Parties acknowledge and agree that SELIC, as the interest rate standard in Brazil, is a reasonable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">benchma</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rk</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">matters</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">connected</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">business,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such as the Downstream Co, whose primary operations are in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Deferred Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means cash consideration that is not payable in full on completion of the Third Party Offer;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Deferred Consideration Net Present Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the net present value to the Selling Party of the Deferred Consideration as at the Third Party Offer Notice Date if paid in cash on completion of the Third Party Offer in lieu of the Deferred Consideration, a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s agreed between the Selling Party and the Continuing Shareholder or as determined by the Independent Non Cash Consideration Valuer in accordance with </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 118.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 37.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Dispute Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualification Call Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the right granted to She</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ll by Clause 4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualification Call Option Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the period from the Disqualification Notice Date to the date that is the later of the date which is:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">eight months thereafter;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>15</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.05pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ten Business Days after the applicable Option Price is fi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nally agreed or determined;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">one month after the ROSM Transition Period Start</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualification Notice Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the date that Shell is notified that ROSM has been determined either:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to be Disqualified in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deceased;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualification Put Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the right granted to Cosan by Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Put</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which is ten days after expiry of the Disqualification Call Option Exercise Period to the date which is four months</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereafter;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualified</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 3.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning as</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cribed to it in the Parties section of this Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream Co Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a value agreed in writing between Cosan and Shell, or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">failing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date (or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whic</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">h</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such initial 14 day period) the amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">x &#8211; y &#8804; 0.1x</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the arithmetic mean of the Midpoints of the Cosan Downstream Valuation Range and the Shell Downstream Valuation Range;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">x &#8211; y &gt; 0.1x</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the arithmetic mean of the Midpoints</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Independent Downstream Valuation Range;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whichever of the Cosan Downstream Valuation Range and the Shell Downstream Valuation Range has a closer Midpoint to the Midpoint </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;">of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Independent Downstream Valu</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ation Range;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">there</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Valuer,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Midpoint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sole</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Valuer Downstream Valuation Range;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; text-decoration: underline;">where:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">x</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" = the greater of the Midpoints of the Cosan Downstream Valuation Range and the Shell Downstream Valuation Range; and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">y</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" = the smaller of the Midpoints of the Cosan Downstream Valuation Range and the Shell Downstream Valuation Range;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and, for the avoid</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ance of doubt, if the Downstream Co declares, pays or makes any dividend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">distribution</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">between</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><br></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>16</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date and the applicable Option Completion Date, the Downstream Co Value shall be adjusted accordingly to take account of the declaration, payment or making of such payment;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream Co Value Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Triggered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option Trigger</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Event;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Cosan Change of Control Option, the date of the relevant Shell Change of Control Event;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Exercising Shareholder Change of Control Option, the date of the relevant New Shareholder Change of Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Event;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Cosan Fundamental Breach Option and the Shell Fundamental Breach Option, the date on which the relevant Party receives the applicabl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e Breach Notice;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Disqualification Put</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if Shell is entitled to nominate another Person to purchase the Cosan Total Interest in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.9.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the date on which Shell sends a notice to Cosan stating that Shell wishes to exercise such right, as further contemplated by Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.9.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(f)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">de</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">termined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream Valuation Range</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means an equity valuation range in respect of the Downstream Co determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Election Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 8.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Encumbrance</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a mortgage, charge, pledge, lien, option, restriction, right of first refusal, right of pre-emption, third party right or interest, other encumbrance or sec</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">urity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">kind,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">another</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">type</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">preferential</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arrangement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">having</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">similar effect (including a title transfer or retention arrangement, or any arrangement whereby title could be transferred to a third party);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means ethanol and ethano</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">l-based products, in each case, produced from sugarcane;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Supply</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">supply</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">June</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2011 between</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sugar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amended,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">supplemented, restated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">replaced</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">avoidance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">doubt,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remain</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">force</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">times in accordance with its terms, subject to the requirements of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Executive Board</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in the Shareholders' Agreement;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>17</font></font></td>
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<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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.6pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercises</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Pre- emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivery</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such Pre-emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Right;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercise Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of any relevant Option, an exercise notice substantially in the form set out in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercising Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercis</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ing Shareholder Change of Control Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to the Exercising Shareholder under Claus</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e 13.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercising Shareholder Change of Control Option Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 17.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Expert</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 27.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extended Lock-up Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 27.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extension Request Confirmation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 27.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extension Request Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 27.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extension Request Recipient</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meani</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ng ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 27.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Fair Market Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph 8 of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 27.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Final Determination Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Finance Lease</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any lease or hire purchase contract, a liability under which would, in accordance with the Accounting Principles, be treated as a balance sheet liability;</font></p>
<p style="margin: 5pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Covenant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Default</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Ratios</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">asc</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ribed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.1.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial Indebtedness</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any indebtedness for or in respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">moneys</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">borrowed;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any amount raised by acceptance under any acceptance credit facility or dematerialised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equivalent;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instrument;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the amount of any liability in respect of any Finance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lease;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receivables</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sold</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">discounted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receivabl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">es</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">they</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are sold on a non-recourse</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">basis);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(f)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any amount raised under any other transaction (including any forward sale or purchase agreement) of a type not referred to in any other paragraph of this definition having the commercial effect of a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">borrowing;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>18</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="width: 6%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -1.66667px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(g)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of any derivative transaction, only the marked to market value (</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or, if any actual amount is due as a result of the termination or close-out of that derivative transaction, that amount) shall be taken into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">account);</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -1.25pt;">(h)</font></font></td>
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<p style="margin: 0px; text-indent: 0px; text-align: justify; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 12pt;">any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution;</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -1.25pt;">(i)</font></font></td>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any amount raised by the issue of redeemable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shares;</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -1.66667px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(j)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">liability</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">advance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purchase</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if one of the primary reasons behind the entry into this agreement is to raise finance;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -1.25pt;">(k)</font></font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(j)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above,</font></p>
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<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in each case and to the extent applicable, calculated (i) using the exchange rates used in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">preparation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Starting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Statements,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extracting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the relevant line items from the Adjusted Financial Statements and in accordance with the Accounting Principles (except for the purposes of Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.1.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and the definition of Cosan Debt Default only, where Financial Indebte</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dness shall include indebtedness within paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(g)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no amount shall be counted more than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">once;&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial Quarter</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the quarterly accounting period of Topco ending on 31 March, 30 June and 30 Septemb</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">er each year (or ending on such other dates as may be notified in writing to Shell);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial Year</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the annual accounting period of Topco ending on 31 December in each year (or ending on such other date as may be notified in writing to Shell);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 143.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">F</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">irst Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 3.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 143.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Fitch</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Fitch Ratings Ltd;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Framework Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the framework agreement relating to the Joint Venture dated 25 August 2010 between Cosan, Cosan Distribuid</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ora de Combust&#237;veis Ltda., Cosan Limited, Downstream Co, Shell, Shell UK Co and Ra&#237;zen Energia Participa&#231;&#245;es S.A.;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means where:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Party (other than a JV Entity) breaches any provision of this Agreement, the Operating and Coordination</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Agreement or the Shareholders' Agreement, whether such event or events amount(s) to a repudiatory breach or breaches of the relevant agreement or not;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Party (other than a JV Entity) is convicted (after any final appeal has been dismissed) of any</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> violation of any Anti-Corruption Law;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>19</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to Cosan only, ROSM or a ROSM Qualifying Replacement breaches any provision of the ROSM Agreement, whether such event or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">events amounts(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">repudiatory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">breaches</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to Cosan only, Aguassanta breaches any provision of the ROSM Agreement,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whether</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">events</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amounts(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">repudiatory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or breaches of such agreement or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not,</font></p>
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<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and which, in any such case referred</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to in sub-paragraphs </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(d) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above, (i) has a Material Adverse Effect on the Joint Venture or any other Party (other than the Party, or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">committed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not remedied,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remedy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">90</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case), ROSM and/or a ROSM Qualifying Replacement and/or Aguassanta becomes Insolvent;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Fundamental Breach Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the date on which the Parties receive a Breach Notice pursuant to Claus</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e 10.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Gearing</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Consolidated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total Debt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">last</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">percentage</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">aggregate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Consolidated Total Debt and the Consolidated Tangible Net Worth on the last day of that Relevant Period and so that no amount shall be included or excluded more than once;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 7.15pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Governmental Authority</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any international, supranational or national </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">government,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">state,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provincial,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">local</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">political</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subdivision</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereof,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entity, authority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">body</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercising</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">executive,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">legislative,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">judicial,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">regulatory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">administrative functions (including functions relating to the audit, imposition, asses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sment, management and collection of Taxes) of or pertaining to government, including any government authority, agency, department, board, commission or instrumentality of any nation or jurisdiction or any political subdivision thereof or any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">court;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Group</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means (i) Topco, (ii) each Subsidiary of Topco from time to time that has a Controlling Interest in the Downstream Co, and (iii) the Downstream Co and its Subsidiaries;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">H&#233;dera</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means H&#233;dera Investimentos e Participa&#231;&#245;es S.A., a corporation duly incorpo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rated under the laws of Brazil, with its headquarters in the city of S&#227;o Paulo, State of S&#227;o Paulo, at Av. Brigadeiro Faria Lima, No. 1355, 12th floor, room 4, Zip Code 01.452-919, enrolled with the CNPJ under No. 12.686.989/0001-18;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Holding Company</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" mea</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ns, in relation to a company or corporation, any other company or corporation in respect of which it is a Subsidiary;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">IAS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">International</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Standard</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Statement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Cash</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Flows</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">issued by the International Accounting Standards Board in April 2001, as amended or superseded from time to time;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ICC</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the International Chamber of Commerce;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>20</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">IFRS</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means international accounting standards within the meaning of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Illiquid Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means debt or equity securities of a Person which are not Liquid Securities or Continuing Shareholder Securities;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Illiquid</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Considera</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">tion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fair</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Market</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Illiquid Securities as agreed between the Selling Party and the Continuing Shareholder or as determined by the Independent Non Cash Consideration Valuer in accordance with </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedul</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Illiquid Securities Issuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph 11(a) of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Independent Downstream Valuation Range</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Downstream Valuation Range determined by the Independent Valuer in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Independent Non Cash Consideration Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph 5 of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Independent Selector</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the President for the time being of the Institute of Independent Auditors of Brazil (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Instituto dos Auditores Independentes do Brasil</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) or, if such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unwilling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">act</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purpose</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement, such person as may be appointed by the ICC International Centre for Expertise in accordance with the provision for the appointment of experts under the Rules for Expertise of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ICC;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Independent Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a Qualifying Accountin</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">g Firm (other than the auditors of any Party) determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Initial Lock-up Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Insolvent</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means unable to pay i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ts debts as they fall due, or is otherwise insolvent, and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Insolvency</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" shall have a corollary meaning;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Interest Cover Ratio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the ratio of Adjusted EBITDA to Net Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Results in respect of any Relevant Period and so that no amount shall be included or excluded more than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">once;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Interim JVA</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(J) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Recitals;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Involuntary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Delisting</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">action</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Listing Authority which results in a removal of, or prohibition on, its right to admit any of its debt or equity securities to listing on a Recognised Stock Exchange for public trading, other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">result</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">request</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remove</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cancel</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">right to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">admit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">debt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">listing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Recognised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Stock</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exchange for public trading where such request was made prior to a Listing Authority informing the Controlling Entity of its intention to take such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">action;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Involuntary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Suspension</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">suspension</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Listing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Auth</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">public</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">trading</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">those</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Public</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Recognised</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>21</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Stock Exchange other than as a result of a request by the Controlling Entity to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">suspend its Public</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">IPO</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the initial public offering of the preferred shares in the Downstream Co on the N&#237;vel II segment of B3 which shall become effective upon publication of the Commencement Announcement to the market;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Joint Venture</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Downstream Co and its Su</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">bsidiaries, considered together;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any joint venture entity, whether a company, unincorporated firm, undertaking, association, joint venture or partnership or any other entity;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JV Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Downstream Co, and/or any Subsidiary of the Downstream Co (including Sugar and Ethanol Co);</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">JV Reorganisation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(K) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Recitals;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Law</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any applicable statute,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> law, rule, regulation, guideline, ordinance, code, policy or rule of common law issued, administered or enforced by any Governmental Authority,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">judicial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">administrative</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interpretation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereof</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of any stock</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exchange;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Leverage Ratio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of any Relevant Period, the ratio of Consolidated Total Net Debt on the last day of that Relevant Period to Adjusted EBITDA in respect of that Relevant Period and so that no amount shall be included or excluded more than o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nce;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Liquid Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means securities:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which are listed on a Recognised Stock Exchange;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which have an ADTV for the preceding 90 days equal to or greater than US$11,000,000 (or its equivalent in any currency);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">form</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">more</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">listed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">securities of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entity;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Liquid Securities Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the value of the Liquid Securities as at the Third Party Offer Notice Date (when included as part of the consideration in a Third Party Offer) and as at the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Exercise Date (when included as part of the consideration payable on completion of the Pre-emption Right), being the volume weighted average price of such Liquid Securities for the 30 days prior to the Third Party Offer Notice Date or Exercise Date (as ap</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">plicable);</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Listing Authority</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means in respect of any Controlling Entity the relevant listing authority, regulator or other competent body with jurisdiction over any Recognised Stock Exchange on which its Public Securities are listed;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 0pt 0pt 46pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"<font style="font-weight: bold;">Listing Default</font>" has the meaning ascribed to it in Clause 16.1; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 9pt 0pt 0pt 46pt; text-align: justify; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"<font style="font-weight: bold;">Lock-up Period</font>" has the meaning ascribed to it in Clause 6.1;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>22</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 4.5pt 82.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Long Stop Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 8.7.1(a)(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 4.5pt 82.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Losses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in the Framework Agreement;</font></p>
<p style="margin: 5pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Mandatory Compliance Regime</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means in respect of any Controlling Entity any mandatory compliance regime to which it is subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> pursuant to applicable Law;&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Marketable Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, as determined in accordance with IFRS, any investment:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for which a liquid trading market</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exists;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which matures within one year;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">can</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">realised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">without</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">material</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">impact</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pri</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ce</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">underlying investment;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Material Adverse Effect</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to a Person, a material adverse effect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the business, operations, property, condition (financial or otherwise), prospects, reputation or results of operations of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Memorandum of Understanding</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the memorandum of understanding between Cosan, Cosan Limited and Shell UK Co dated 31 January 2010;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Midpoint</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to a range, the median of the lower and upper limits of such range;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Minority</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a Person (other than Rumo) in which Cosan Topco or a member of the Cosan Group directly or indirectly holds less than 50 per cent of the voting rights in that Person;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Moody's</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Moody's Investors Service, Inc;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Net Financial Results</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he net financial expenses of the Group calculated by extracting the relevant line items from the Adjusted Financial Statements and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prepared in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Principles</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">same</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">policies, treatments, practices and cat</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">egorisations, including in relation to the exercise of discretion and judgement, that were used in the Annual Financial Statements for the Financial Year ended 31 December 2019 to the extent consistent with the Accounting Principles in force at the relevan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Cosan Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.5.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any Shareholder to which Bound Shares have been transferred in accordance with the provisions of this Agreement other</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> than a Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Royal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii) Cosan or any Shareholder Controlled by ROSM or, after the Post ROSM Date, ROSM and/or a ROSM Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Replacement;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shareholder Change of Control Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any transaction, agreement, transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arrangement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">series</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transactions,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreements,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transfers or other arrangements which cumulatively, results in the acquisition of Control of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>23</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">New Shareholder by a Pe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rson (or Persons acting in concert) who is not the New Shareholder Controller;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shareholder Controller</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to a New Shareholder, the Person or Persons acting in concert who directly or indirectly Control the New Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as at the d</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ate the New Shareholder becomes a Shareholder in accordance with the provisions of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shareholder Total Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the New Shareholder's entire direct holding of Shares in the Downstream Co;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 42.2pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shareholder Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the mea</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 42.2pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shell Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.4.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 42.2pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Non-Approval</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Non Cash Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any (i) Liquid Securities, and/or (ii) Illiquid Securities, in each case which form part of the consideration in the Third Party Offer;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Non Cash Consideration Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> any Liquid Securities, the Liquid Securities Value;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to any Illiquid Securities, the Illiquid Securities Consideration Value;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Non Cash On Completion Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any Non Cash Consideration and/or any Deferred Consideration;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Non Cash On Completion Consideration Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the aggregate of any Non Cash Consideration Value and any Deferred Consideration Net Present Value;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Notifiable Persons</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Cosan, ROSM, Shell, Shell UK Co and (if applicable) the New Shareholder Contr</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">oller; and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Notifiable Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" shall mean each of them;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 8.3.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 98%; margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Operating and Coordination Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the operating and coordination agreement relating to the Joi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nt Venture dated 1</font><font style="font-family: 'Times New Roman'; font-size: 8pt; vertical-align: 4.5pt;">st </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">June 2011 between Cosan, Cosan Distribuidora de Combustiveis Ltda, the Downstream Co, Ra&#237;zen Servi&#231;os e Participa&#231;&#245;es S.A., Shell and Ra&#237;zen Energia Participa&#231;&#245;es S.A.;</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any of the Disqualification Put Option, the Disqua</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lification Call Option, the Cosan Change of Control Option, the Shell Event Triggered Call Options, the Exercising Shareholder Change of Control Option, the Pre-emption Right, the ROFR Right, the Second ROFR Right, the Cosan Fundamental Breach Option and t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Shell Fundamental Breach Option;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of any Option, the completion of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option determined in accordance with the relevant Clause governing that Option under this Agreement;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>24</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option Completion Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of any Option Completion, the date of such Option Completion;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of any Option, the price for that Option determined in accordance with the relevant Clause of this Agreement governing that Option;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Parent Company</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any Person which holds a majority of the voting rights in another Person, or whi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ch is a member of another Person and has the right to appoint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or remove</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">majority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">board</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directors,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">member</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">another</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and controls</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">majority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">voting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">members, in each case </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whether directly or indirectly through one or more</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">companies;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Partial Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a Transfer by a Shareholder of part of its direct interest in the Downstream Co (and if the direct interest being transferred is not all of the Shareholder Total Intere</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">st);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any party to this Agreement from time to time (including any Person who</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">executing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Adherence) to be bound by, this Agreement) (and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" shall be construed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordingly);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of the payment of an Option Price, the party to which payment is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">due;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.25pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Payor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in respect of the payment of an Option Price, the party from which payment is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">due;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Permitted Encumbrance</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any Encumbrance whose existence was consented to, in writing in advance, by the Cosan Shareholder Representative and the Shell Shareholder Representative;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Post</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">immediately</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">finally determined as being Disqualified or Deceased in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Pre-emption Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 7.7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Pre-emption Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.3.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Public Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any debt or equity securities of a company which are admitted to or listed on a Recognised Stock Exchange.</font></p>
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<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Qualifying Accounting Firm</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any of, or any Affiliat</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e of or firm formally associated with, PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst &amp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Young, KPMG,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Grant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Thornton</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">International</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">BDO</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">International,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">firm</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as may be agreed between Cosan and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell;&nbsp;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Qualifying Investment Bank</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> means an investment bank:</font></p>
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<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acceptable to both Cosan and Shell; or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the event that Cosan and Shell cannot agree, an investment bank which is ranked</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">top</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ten</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">mergers</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acquisitions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transactions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil, or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ranked</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">top</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ten</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">mergers</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acquisitions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transactions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Latin America, each as published by Thomson Financial, announced between 1 January and 31 December for the year immediately preceding the date of calculation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">league</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">table ceases</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">published,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">investment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">bank</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ranked</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">top</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ten</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the equivalent league table as published by Bloomberg (or if that ceases to be published, by Dealogic); or, in the event that all such league tables cease to be (or has not yet been) published, an investment bank ranked in the top ten by value of such othe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">r league table as Cosan and Shell may agree; or, failing such agreement within 10 Business Days of the need to select a Qualifying Investment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bank,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">investment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">bank</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Independent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selector</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">select (such decision being final and binding on the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties);</font></p>
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<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Qualifying Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a Person which:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has, at the time of making a Third Party Offer, a Rating equal to or greater</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Acceptable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Credit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agency</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indicated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such Rating will not be downgraded to lower than one level below an Acceptable Rating as a result of the completion of such Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirectly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(and is not itself) a Sanctioned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">P</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">erson;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has not, and no director of which has, been convicted of any violation of any Anti-Corruption Law;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at completion of its acquisition of Shares, will enter into a Deed of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Adherence;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Qualifying Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a medical doctor with at least 15</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> years' relevant experience, who:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is registered to practise by the appropriate medical regulatory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">body:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of those hospitals set out in paragraphs (b)(i) - (iii) below, in Brazil;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of those hospital set out in paragraphs (b)(iv) - (vi) below, in the USA;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is a chief or senior staff member</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Hospital Albert Einstein, S&#227;o Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Hospital S&#237;rio Liban&#234;s, S&#227;o Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Hospital Oswaldo Cruz, S&#227;o Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bra</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">zil;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(iv)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Johns Hopkins Hospital, Baltimore, Maryland,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">USA;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(v)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Methodist Hospital, Houston, Texas, USA; or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(vi)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New York Presbyterian University Hospital of Columbia and Cornell, New York, New York, USA; and</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>26</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is fluent in Portuguese;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.2.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.2.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Quarterly Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the consolidated financial statements of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Group for the relevant Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Quarter;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">credit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">long-term</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">senior</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unsecured debt;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RDS Global Downstream Controller</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, immediately following completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of an RDS Global Downstream Disposal</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, in relation to Shell or a New Shell Shareholder (as applicable), the Person or Persons acting in concert who directly or indirectly Control Shell or the New Shell Shareholder (as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RDS Global Downstream Disposal</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any sale, Transfer or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transaction by Royal Dutch Shell for the disposal of its entire worldwide oil products marketing and manufacturing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">direct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interests</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co) other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">parts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(excluding</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">direct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirect interests</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the Downstream Co) which Royal Dutch Shell is required to retain or separately</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">divest as a result of regulatory or anti-trust requirements imposed on such sale, Transfer or other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transaction;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Recognised Stock Exchange</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" mea</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ns:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<font style="font-size: 12pt;">the London Stock Exchange, the New York Stock Exchange, NASDAQ, the Hong Kong Stock Exchange, the Singapore Exchange, B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o, Euronext NV, or Deutsche Boerse AG; or</font></font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">stock</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exchange</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">formed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">result</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">merger</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">involving</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the stock exchanges listed in paragraph (a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Register</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Book</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Registration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Livro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Registro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">de Transfer&#234;ncia de</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 6.15pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Relevant Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means each Financial Year or the twelve months prior to the end of each Financial Quarter (as applicable);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 30.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Remaining ROFR Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.8.2(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 30.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Reorganization</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means:</font></p>
<p style="margin: 0pt 9.65pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to the Joint Venture, a variation to the Downstream Co's equity structure</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">variation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">issued</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">share</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whether by way of capitalisation issue, rights issue, placing and/or open offer, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;">sub- </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">division,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reduction,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purchase,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">m</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">erger</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">alteration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights attached</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">issued</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">share</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">excluding:</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any increase in the share capital of the Downstream Co as a result of an issuance of Shares within the authorized capital of the Downstream Co (approved by the Supervisory Board) as set out in the Byelaws of the Downstream Co from time to time; and (B) any</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> profit capitalization;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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>
</div>
<div>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.7pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to Cosan, Shell or Royal Dutch Shell, a variation of such Person's group structure and/or a variation in such Person's issued share capital whether by way of capitalisation issue, rights issue, placing and/or open offer, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;">sub- </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">division,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reducti</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purchase,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">merger</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">alteration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights attached to any part of such entity's issued share</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Reporting Deadline</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the last possible date on which those Controlling Entity Financial Statements can be filed, published </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or produced, as appropriate in order to remain in compliance with that Mandatory Compliance Regime;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Representatives</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any of a Person's Affiliates and the directors,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">officers, employees,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agents,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">counsel,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">investment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">advisers,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">financing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sources</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(subject to customary confidentiality obligations) of such Person and/or any of its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliates;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 97.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 97.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Offer Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 97.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 57.75pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Second Offer Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 57.75pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 96.05pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Selling Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 96.05pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.2.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 3pt 9.6pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Rubens Ometto Silveira Mello, a Brazilian citizen whose principal business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">address</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">located</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Av.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16th</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">floor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&#8211;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">CEP</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">04538- 132 &#8211; S&#227;o Paulo &#8211; SP Brazil;&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the agreement entered into between ROSM, Aguassanta, Shell and Shell UK Co on 25 August 2010 as amended and restated on or about the 2016 Amendment and Restatement Date and on or about the date of the JV Reorganisation;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Family Investment Vehicle</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any Person Beneficially Owned by one or more ROSM Family Members and/or one or more ROSM Family Trusts;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Family Member</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any child, grandchild, great grandchild or any other lineal descendant of ROSM;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> Family Trust</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any trust or Usufruto of which one or more ROSM Family Members are the sole beneficiaries;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Qualifying Replacement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means one or more ROSM Family Members, which together have a Controlling Interest in the Downstream Co either dir</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ectly or indirectly via a ROSM Family Trust and/or one or more ROSM Family Investment Vehicles at any time after the Post ROSM Date, including for the avoidance of doubt the ROSM Transition Period Qualifying Replacements;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Transiti</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">on Period End Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the date which is one year after the ROSM Transition Period Start Date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transition</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Replacements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ascribed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it in Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Transition Period Start Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the date that is the later of the date which is:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date on which Cosan notifies Shell in writing of the names of the ROSM Transition</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Replacements</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if not specified in the notice provided in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the date on which Cosan notifies Shell that the ROSM Transition Period Qualifying Replacements have a Controlli</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ng Interest in the Downstream Co in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Royal Dutch Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Royal Dutch Shell plc, a company incorporated under the laws of England with registered number 04366849 and whose registered office </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is at Shell Centre, London, SE1 7NA;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 37.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">company</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">organised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">existing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">laws</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil, with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">head</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">office</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rua</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Em&#237;lio</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bertolini,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cajuru,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Curitiba,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">PR,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Zip</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Code 82920-030,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">enrolled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tax</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">registry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">number</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">02.387.241/0001-60;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo Accounts</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Rumo Annual Financial Statements and/or Rumo Quarterly Financial Statements, as applicable;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo A</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">nnual Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the audited consolidated financial statements of Rumo and its Subsidiaries for the relevant Rumo Financial Year;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, where an adjustment has been made to the Starting Financial Statements of Cosan Topco in relation to Rumo in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Accounts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">published</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">investor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">area</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">R</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">umo's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">public website;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Quarterly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consolidated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statements of Rumo and its Subsidiaries for the relevant Rumo Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Quarter;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Quarter</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">quarterly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ending</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on 30 June, 30 September and 31 December each year (or ending on such other dates as may be notified in writing to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell);</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rumo Financial Year</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the annual accounting period of Rumo ending on 31 March</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">year</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ending</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ma</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">y</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notified</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.25pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">S&amp;P</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Standard &amp; Poor's Rating Services, a division of The McGraw Hill Companies, Inc.;</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'>29</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sanctioned Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any Person or entity (i) on any list of restricted or designated entities, Pe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rsons or organizations published by the United States, the United Kingdom, the United Nations, the European Union or any member state thereof or Brazil, including but not limited to the following or any replacement of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following:&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;">(1)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Specially Designate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d Nationals and Blocked Persons List or the Excluded Parties List issued by the US Department of the Treasury's Office of Foreign</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Assets</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; font-weight: bold;">OFAC</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Denied</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Persons</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">List</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">List</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">issued by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bureau</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Industry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Security</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">US</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Department</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Commerce,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Debarred Parties List issued by the Directorate of Defense Trade Controls of the US Department of State, the Terrorism Exclusion List issued by the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bureau of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Counterterrorism</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">US</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Department</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">State,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(2)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Consolidated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">L</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ist</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of Financial Sanctions Targets issued by Her Majesty&#8217;s Treasury&#8217;s Office of Financial Sanctions Implementation in the United Kingdom, (3) the Consolidated List of Persons, Groups and Entities Subject to EU Financial Sanctions, and (4) the United Nation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s Consolidated List established and maintained by the 1267 Committee; and/or (ii) organised, located or resident</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in any country or territory subject to comprehensive Sanctions Laws, including at the date of this Agreement, the Crimea region, Cuba, Iran, No</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rth Korea, Syria and Venezuela;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any Person or entity, other than one falling under the remit of paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> above, with whom nationals of the United States, United Kingdom, European Union or Brazil are prohibited from doing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">business;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sanctions Laws</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="width: 6.7359%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -1.25pt;">(a)</font></font></td>
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<td style="width: 91%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="font-size: 12pt; font-family: 'times new roman', times;">any economic or financial sanctions or trade embargoes of the United States, including the economic sanctions rules and regulations administered by OFAC;</font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right; width: 6.7359%;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -1.66667px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 91%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">any US export controls or trade restrictions, including the US Export Administration Regulations and International Traffic in Arms</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Regulations;</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right; width: 6.7359%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -1.25pt;">(c)</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 91%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">any EU export controls or trade restrictions, including any&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">EU Council Regulations on export controls, including&nbsp;Nos. 428/2009 and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">267/2012;</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 2.2641%;" valign="top"><br></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 91%;" valign="top"><br></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right; width: 6.7359%;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -1.66667px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(d)</font></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 2.2641%;" valign="top"><br></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 91%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">EU Council sanctions regulations, as implemented in EU Member States, including the United Kingdom;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">and</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 2.2641%;" valign="top"><br></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 91%;" valign="top"><br></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right; width: 6.7359%;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -1.66667px; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(e)</font></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; width: 2.2641%;" valign="top"><br></td>
<td style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; vertical-align: top; width: 91%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font 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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the UK Sanctions and Anti-Money Laundering Act</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">2018;</font></font></td>
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<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;"><br></font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 65.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second Acceptance Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 65.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 69.75pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second ROFR Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 69.75pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second ROFR Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 69.75pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second Transfer Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.8.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>30</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
</div>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SELIC</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the rate assessed by the Brazilian Special Liquidation and Custody System (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Sistema Especial de Liquida&#231;&#227;o e Cust&#243;dia) &#8211; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selic, published by the Central Bank of Brazil, obtained by calculating the adjusted weight average rate of one-day finan</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cing operations, backed by public federal bonds and traded in such system;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Selling Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 7.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Deferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Net</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Present</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ascribed to i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t in paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Selling Party Fair Market Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder Adherence Agreements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder Total Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means in respect of a Shareholder, that Shareholder's entire direct holding of Bound Shares and Unbound Shares in the Downstream Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">those</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hold</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acco</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rdance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">bound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">executing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Adherence (and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any one of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">them);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholders' Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the shareholders' agreement relating to the Downstream Co, as entered into between, among others, Cosan, Shell and the Downstream Co, as most recently amended and restated on or about 31 May 2021 and the Amendment and Restatement Date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" me</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ans the ordinary shares and/or preferred shares (as applicable) in the capital of the Downstream Co from time to time (which includes the Bound Shares and/or Unbound Shares (as applicable) held by Cosan and/or Shell from time to time);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">P</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">erson</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">described</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">section</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and any other New Shell Shareholder who becomes "Shell" for the purposes of this Agreement by execution of a Deed of Adherence pursuant to Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> Call Option Trigger Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a Cosan Change of Control Event, a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Financial Covenant Breach, a Cosan Debt Default, a Rumo Breach, a Corporate Governance Default or a Listing Default;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Change of Control Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any transaction, agreemen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t, transfer or other arrangement which, or any series of transactions, agreements, transfers or other arrangements which cumulatively, results in:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prior</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Royal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell no longer having a Controlling Interest in the Downstream Co;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global Downstream Controller no longer having a Controlling Interest in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;&nbsp;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<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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<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: 4.5pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Change of Control Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to Shell under Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Corporate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Governance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">those</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">granted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">legal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">beneficial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest in the Downstream Co, as calculated from the Downstream Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Downstream Valuation Range</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Downstream Valuation Range determined by the Shell Valuer in accor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Event Triggered Call Option Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.1.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Event Triggered Call Options</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means each of the Shell Change of Control Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Covenant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Corporate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Governance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call Option and the Shell Involuntary Delisting Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Financial Covenant Call Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to Shell under Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Fundamental Breach Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to Shell pursuant to Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exerc</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental Breach has been committed by Cosan (either as agreed between </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;">the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties or as determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), the period commencing on date of service of the Breach Notice to the date which is 90 days after the Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Involuntary Delisting Call Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means those rights granted to Shell under Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> Shareholder Representative</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the "Shareholder Representative" appointed by Shell pursuant to Section 4.01 (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Shareholder Representatives</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) of the Shareholders' Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entire</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">direct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">holding</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downs</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tream Co (including its Bound Shares and Unbound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 0pt 10pt 46pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell UK Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in the Parties section of this Agreement;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 0pt 10pt 46pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.05pt 5.95pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Warranty</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a statement contained in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Warranties</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means all those statements;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SOFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the secured overnight financing rate administered by the Federal Reserve Bank of New York (or any other person which takes over the administration</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.3pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">of that rate) published by the Federal Reserve Bank of New York (or any other per</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">son which takes over the publication of that rate);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Valuer Downstream Valuation Range</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Downstream Valuation Range determined by the S</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ole Valuer in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Starting Financial Statements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Annual Financial Statements and/or the Quarterly Financial Statements, as applicable;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Subsidiary</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means in relation to any Person, a Perso</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which is Controlled, directly or indirectly, by the first mentioned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.25pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where more than half the issued share capital of which is Beneficially Owned, directly or indirectly, by the first mentioned Person; or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which is a Subsidiary of another Subsidiary of the first mentioned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 6.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sugar and Ethanol Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means Ra&#237;zen Energia S.A., a company organized and existing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">laws</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">head</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">office</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Avenida</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brigadeiro</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Faria</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lima, 4100,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11th</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">floor,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">parte</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">05,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">City</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sao</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">State</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sao</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">CEP</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">04538-132,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil, enrolled with the Brazilian tax registry under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">No.08.070.508/0001-78;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Supervisory Board</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in the Shareholders' Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 5.85pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Tax</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any taxati</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on, levies, duties, charges, contributions, withholdings or imposts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whatever</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nature</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">related</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fines,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">penalties,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">surcharges</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest) imposed, collected or assessed by, or payable to, a tax authority in any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">jurisdiction;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Termination Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the publication of the announcement (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">An&#250;ncio de</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Encerramento</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">da</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Oferta</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">P&#250;blica</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Distribui&#231;&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Preferenciais</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Emiss&#227;o da Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) informing the market of the completion of the distribution of preferred shares issue</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d by the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Termination&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Announcement&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font></font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font></font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font></font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the<font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font></font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">Termination </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Announcement is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">made;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 46.3pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Investor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 10pt 46.3pt 10pt 46pt; text-indent: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Long Stop Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the m</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">eaning ascribed to it in Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any bona fide offer from a Third Party Offeror (which complies with the requirements of Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) which a Shareholder wishes to accept;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Offer Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to it in Clause 7.13</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>33</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p><br></p>
<p style="margin: 4.5pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Offer Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the notice in th</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e form set out in Schedule 5</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">setting out the terms of a proposed sale to a Third Party Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifying:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="width: 6%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.733333px; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></td>
<td style="width: 3%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br></td>
<td style="width: 91%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font 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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Shares</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">proposed</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">transferred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">pursuant</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">relevant</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Third</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Offer;</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.733333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</font></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the identity of the Person(s) to whom it is proposed that the&nbsp;Sha</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">res referred to in paragraph (a) above are transferred and the date on which it is proposed to complete the transfer of such</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Shares;</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.733333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)</font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">the price per Share and all other terms on which the Shares referred to in paragraph (a) above are proposed to be transfer</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">red, including attaching the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.95pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">sale and purchase agreement documenting the Third Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Offer;</font></font></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br></td>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.55pt;">(d)</font></font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 12pt;">reasonable details of any Non Cash Consideration (including the rights and restrictions (if any) attached to any Illiquid Securities and the relevant stock exchange<font style="letter-spacing: -0.4pt;"> </font>and<font style="letter-spacing: -0.3pt;"> </font>closing<font style="letter-spacing: -0.3pt;"> </font>price<font style="letter-spacing: -0.35pt;"> </font>of<font style="letter-spacing: -0.35pt;"> </font>any<font style="letter-spacing: -0.2pt;"> </font>Illiquid<font style="letter-spacing: -0.3pt;"> </font>Securities<font style="letter-spacing: -0.3pt;"> </font>which<font style="letter-spacing: -0.3pt;"> </font>are<font style="letter-spacing: -0.4pt;"> </font>listed<font style="letter-spacing: -0.35pt;"> </font>on<font style="letter-spacing: -0.3pt;"> </font>a<font style="letter-spacing: -0.35pt;"> </font>stock exchange) together with the amount which the Selling Party (or its financial adviser,<font style="letter-spacing: -0.55pt;"> </font>as<font style="letter-spacing: -0.4pt;"> </font>applicable)<font style="letter-spacing: -0.5pt;"> </font>considers,<font style="letter-spacing: -0.55pt;"> </font>acting<font style="letter-spacing: -0.55pt;"> </font>reasonably,<font style="letter-spacing: -0.55pt;"> </font>to<font style="letter-spacing: -0.55pt;"> </font>be<font style="letter-spacing: -0.6pt;"> </font>the<font style="letter-spacing: -0.6pt;"> </font>Fair<font style="letter-spacing: -0.5pt;"> </font>Market<font style="letter-spacing: -0.55pt;"> </font>Value of the Illiquid Securities, in accordance with paragraph 1 of Schedule 9;<font style="letter-spacing: -0.35pt;"> </font>and</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; letter-spacing: -0.55pt;">(e)</font></font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'times new roman', times; font-size: 12pt;">in<font style="letter-spacing: -0.6pt;"> </font>respect<font style="letter-spacing: -0.6pt;"> </font>of<font style="letter-spacing: -0.6pt;"> </font>any<font style="letter-spacing: -0.5pt;"> </font>Deferred<font style="letter-spacing: -0.55pt;"> </font>Consideration,<font style="letter-spacing: -0.6pt;"> </font>the<font style="letter-spacing: -0.6pt;"> </font>amount<font style="letter-spacing: -0.55pt;"> </font>of<font style="letter-spacing: -0.6pt;"> </font>Deferred<font style="letter-spacing: -0.6pt;"> </font>Consideration and full and complete details of the payment schedule including each payment date<font style="letter-spacing: -0.65pt;"> </font>and<font style="letter-spacing: -0.55pt;"> </font>amount<font style="letter-spacing: -0.5pt;"> </font>and<font style="letter-spacing: -0.55pt;"> </font>applicable<font style="letter-spacing: -0.6pt;"> </font>rate<font style="letter-spacing: -0.6pt;"> </font>of<font style="letter-spacing: -0.6pt;"> </font>interest<font style="letter-spacing: -0.55pt;"> </font>(if<font style="letter-spacing: -0.6pt;"> </font>any)<font style="letter-spacing: -0.6pt;"> </font>together<font style="letter-spacing: -0.6pt;"> </font>with<font style="letter-spacing: -0.55pt;"> </font>the<font style="letter-spacing: -0.6pt;"> </font>amount which<font style="letter-spacing: -0.35pt;"> </font>the<font style="letter-spacing: -0.35pt;"> </font>Selling<font style="letter-spacing: -0.3pt;"> </font>Party<font style="letter-spacing: -0.35pt;"> </font>(or<font style="letter-spacing: -0.4pt;"> </font>its<font style="letter-spacing: -0.3pt;"> </font>financial<font style="letter-spacing: -0.3pt;"> </font>adviser,<font style="letter-spacing: -0.3pt;"> </font>as<font style="letter-spacing: -0.2pt;"> </font>applicable)<font style="letter-spacing: -0.35pt;"> </font>considers,<font style="letter-spacing: -0.35pt;"> </font>acting reasonably, to be the Deferred Consideration Net Present<font style="letter-spacing: -0.15pt;"> </font>Value;</font></p>
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<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"><br></font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Offer Notice Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Withdrawal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ascribed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any Qualifying Offeror which wishes to buy only the Shareholder Total Interest from a Shareholder;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Warranty</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means a statement contained in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Warranties</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means all such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statements;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means (i) for as long as a member of the Cosan Group holds a Controlling Interest in the Downstre</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">am Co, Cosan Topco, or (ii) in the event Shares held by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan (being the Cosan Total Interest) have been Transferred to a New Shareholder in accordance with the terms of this Agreement, the ultimate Parent Company of such New Shareholder which has a Contro</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lling Interest in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 6.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transaction</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Documents</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;">&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ascribed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Framework</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement;&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 6.7pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, with respect to any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">securities:</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td style="width: 6%; vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(a)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">when used as a verb, to sell, assign, dispose of, exchange, pledge, encumber, hypothecate or otherwise transfer any such securities or any participation or interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">therein,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whether</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirectly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">derivative transaction), o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">r agree or commit to do any of the foregoing;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</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'>34</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">when</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">noun,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">direct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sale,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">assignment,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">disposition,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exchange, pledge, encumbrance, hypothecation, or other transfer of any such securities or any participation or interest therein or any agreement or commitment to do any of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">foregoing,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" shall be construed accordingly;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 109.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transfer Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.2.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 109.4pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Unbound Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">", subject to Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.4.4(e) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.5.4(e)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, means at any time:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="height: 62px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right; width: 10%;" valign="top"><font style="font-size: 12pt; font-family: 'times new roman', times;">(i)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(1) the number of all the preferred shares held by Shell and (2) the number of ordinary shares held by Shell, in each case, in the capital of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Term</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(1 plus</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">number</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.0</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Downstream Co at the Termination Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
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<td style="height: 20px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-size: 12pt; font-family: 'times new roman', times;">(ii)</font></td>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any Shares acquired by Shell following the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">IPO;</font></p>
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<td style="height: 20px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-size: 12pt; font-family: 'times new roman', times;">(iii)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any new Shares issued to Shell pursuant to a share split of existing Unbound Shares held by Shell;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<td style="height: 41px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="font-size: 12pt; font-family: 'times new roman', times;">(iv)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any preferred shares in the capital of the Downstream Co that arise as a result of any conversion of any ordinary shares in the capital of the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Unbound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">held</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Article</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Byelaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">f</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td style="width: 10%; vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(i)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(1) the number of all the preferred shares held by Cosan and (2) the number of ordinary shares held by Cosan, in each case, in the capital of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Termination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(1 plus</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">number</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.0</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Downstream Co at the Termination Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(ii)</font></td>
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<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any Shares acquired by Cosan following the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">IPO;</font></p>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(iii)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any new Shares issued to Cosan pursuant to a share split of existing Unbou</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nd Shares held by Cosan;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: right;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">(iv)</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">any preferred shares in the capital of the Downstream Co that arise as a result of any conversion of any ordinary shares in the capital of the Downstream Co which are Unbound Shares held by Cosan in accordance with paragraph 5 of Article 5 of the Byelaws o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">f the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font></p>
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<p style="margin: 0pt 9.6pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><br></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">less, in each case, any Unbound Shares which have been Transferred by, as applicable, Shell or Cosan pursua</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nt to Clause 8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>35</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Valuation Costs</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in paragraph 7 of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
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<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Valuation Range</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means any of the Cosan Downstream Valuation Range; Downstream Valuation Range; Independent Downstream Valuation Range; Shell Downstream Valuatio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n Range; and/or Sole Valuer Downstream Valuation Range;</font></p>
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<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Valuers</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means the Cosan Valuer, the Shell Valuer, the Sole Valuer and/or the Independent Valuer (as the case may be);</font></p>
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<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 96.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">VAT</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means value added tax and any similar sales or turnover tax; </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 96.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Waiver</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" ha</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.12.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and </font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 96.45pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Waiver Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" has the meaning ascribed to it in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="line-height: 13.8pt; margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In this Agreement, a reference</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right; width: 8%;" valign="top"><font style="font-family: 'times new roman', times; font-size: 12pt;">1.2.1</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">a statutory provision includes a reference to:</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (a) the statutory provision as modified or re-enacted or both from time to time (whether before or after the date of this Agreement); and (b) any subordinate legislation made under the statutory provision (whether before or after the date of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreemen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t);</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.2</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">means,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amended from time to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time;</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.3</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">company</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">",</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"corporation"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"entity"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">includes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">association,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">partnership</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or business entity (of whatever form) in any jurisdiction (including Brazilian </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">sociedades empresariais </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">sociedades simples</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">);</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.4</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">regulation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" includes any regulation, rule, official directive, request, guideline,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">portaria,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">regulamento,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">decreto,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resolu&#231;&#227;o,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delibera&#231;&#227;o,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">circular,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">carta- circular, instru&#231;&#227;o, instru&#231;&#227;o normativa, regimento, ato declarat&#243;rio and/or despacho normativo (whether or not having the force of Law) of any Governmental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Authority;</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.5</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">includes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reference</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">individual,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">firm,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">body</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">corporate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(wherever incorporated), government, state or agency of a state or any joint venture, association, partnership or other business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entity;</font></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Persons acting in concert</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" means, in relation to a Person, Persons which actively</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">-operate,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">understanding</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(whether</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">formal or informal) with a view to obtaining or consolidating Control of that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person;</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.7</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" or a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">", includes a reference to that Party's, or that Person's, legal personal representati</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ves, successors or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliate(s);</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.8</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">unless</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specified,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reference</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Paulo,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time; and</font></p>
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<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.2.9</font></td>
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<p style="margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">",</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Paragraph</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Schedule</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">",</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unless</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">context</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">requires, is a reference to a clause or paragraph of, or a schedule to this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</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'>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>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10.2pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Italicized terms in parenthesis denote the Portuguese language words for names, concepts and other terms applicable in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Schedules form part of this Agreement and shall have the same force and effect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as if set out in the body of this Agreement and references to this Agreement include the Schedules.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Words importing the singular shall include the plural and vice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">versa.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">W</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">henever the words "include", "includes" or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation", whether or not they are in fact followed by those words or words of like</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">import.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">References from or t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o any date mean, unless otherwise specified, from and including and to but excluding,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respectively.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">1.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The headings in this Agreement shall not affect the interpretation of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ag</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reement.</font></p>
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<h1 style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bb_Z90NXSMGK000000000000000000000" class="customBookmark">SECTION</a> TWO: EXERCISE PERIODS</font></h1>
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<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">2.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bc_EPVYYH12Z400000000000000000000" class="customBookmark">EXTENSION</a> OF EXERCISE</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">PERIODS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Arbitrator</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">considering</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">claim</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">during</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercisable,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such Option has not been exercised, such: (i) Call Option Exercise Period, Disqualification Call Option Exercise Period, Disqualification Put Option Exercise Period, and/or Pre- emption Exercise Period shall be extended to expire 30 days; and (ii) ROFR Off</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">er Period or ROFR Second Offer Period (as applicable) shall be extended to expire 10 Business Days, in each case of (i) and (ii), after the date of receipt of the Arbitrator's determination in respect of the alleged Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that any of (i) the Shell Event Triggered Call Option Exercise Period; (ii) the Pre-emption Exercise Period; (iii) the Cosan Change of Control Option Exercise Period; (iv) the Exercising Shareholder Change of Control Option Exercise Period; (v</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(vi)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Put</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option Exercise Period, is extended for a period in excess of six months in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Arbitrator</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determines</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurred,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Party that was alleged to have committed the Fundamental Breach but which the Arbitrator determines was not in Fundamental Breach, (i) may elect to have the Downstream Co Value recalculated as of the date of receipt o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">f the Arbitrator's determination in respect of the alleged Fundamental Breach, and (ii) notwithstanding anything else in this Agreement to the contrary shall be entitled to select which of the two</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Values</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">calculated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determine</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<h1 style="margin: 4.5pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Baa_T6WXTPPL3400000000000000000000" class="customBookmark">SECTION</a> THREE: DISQUALIFICATION OPTIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">3.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bbbb_OB8GYREB0W00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">DISQU</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ALIFICATION</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For the purposes of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Clause 3,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> an individual is "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Disqualified</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lacks</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">mental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capacity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">perform</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">essen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">duties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">his</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">positions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to the Joint</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Venture;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">condition</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">does</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resolve</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">itself</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">30</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consecutive</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably determined by the applicable Qualifying Physician or Expert </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;">in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the medical speciality concerned with the condition causing the alleged incapacity (if known);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Qualifying Physician determines, in his expert opinion, that such condition is not likely to be temporary in nature (including, but not limited to, any such interim condition ordinarily occurring in the course of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">convalescence).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If any JV Entity or Sh</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ell (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">First Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") reasonably suspects that ROSM is Disqualified, the First Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify each Notifiable Person in writing of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">belief;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">select a Qualifying Physician and deliver a Qualifying Physician Notice to the Notifiable Persons;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.2.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instruct, on the date the Qualifying Physician Notice is delivered pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.2.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Qualifying Physician it has selected</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">carry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">medical</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">examination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">place</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is then located (or, if the Qualifying Physician determines that the examination requires medical equipment or facilities located in a hospital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">facility,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hospital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">facility</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nearest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">city where he is then located), for the purpo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ses of determining whether or not ROSM is Disqualified;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify in writing, within 15 Business Days of examining ROSM, each of the Notifiable Persons of whether or not he or she considers ROSM to be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualified,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, in any event, if the Qualifying Physician has been unable to carry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">medical</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">examination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">40</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">being</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instructed because</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unwilling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">submit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">himself</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereto</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after the expiry of such period, be automatically determined to be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualified.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">3.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If any Notifiable Person (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") disputes the Qualifying Physician's determination that ROSM is Disqualified, such Notifiable Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">send written notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> within 10 days from the date of receipt by such Notifiable Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.2.3(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to each of the other Notifiable Person that it disputes the determina</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tion;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>38</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">select</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">send</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to each of the Notifiable Persons, each within 10 days from the date of sending written notice pursuant t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o Clause 3.3.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.3.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instruct, on the date of the Qualifying Physician Notice delivered pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.3.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Qualifying Physician it has selected</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">carry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">medical</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">examination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">place</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is then located </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or, if the Qualifying Physician determines that the examination requires medical equipment or facilities located in a hospital or facility, then in a hospital or facility in the city where he is then located or nearest to), for the purposes of determining</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> whether or not ROSM is Disqualified;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify in writing, within 10 Business Days of examining ROSM, each of the Notifiable Persons, whether he or she considers ROSM to be Disqualified,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, in any event, if the Qualifying Physician has been unable to carry out such medical examination of ROSM within 20 days of being instructed, whether because ROSM has been unwilling to submit himself thereto or otherwise, ROSM shall, after the expiry of su</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ch period, be automatically determined to be Disqualified.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">3.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the second Qualifying Physician determines:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM to be Disqualified, then the determination of ROSM as Disqualified shall, except in the case of manifest error, be final and the Parties shall not further dispute such determination;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM not to be Disqualified, then the Parties shall refer the ma</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tter for final determination to an independent Qualifying Physician (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Expert</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">3.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Parties are required to refer a matter to an Expert pursuant to Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.5.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan and Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall:</font></p>
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<p style="margin: 0pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree the identity of the Expert or, failing agreement within 5 days of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">last</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receives</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.3.3(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Expert shall be an independent Qualifying Physician nominated by the mutual agreement of the first and second Qualifying Physicians or, where such Qualifying Physicians are unable to reach agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within 10 days, the Expert shall be appointed by the ICC International Centre for Expertise in accordance with the provision for the appointment of experts under the Rules for Expertise of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ICC;</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">end written notice in writing to each Notifiable Person of the identity of the Expert selected in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.5.1(a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</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'>39</font></font></td>
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<p style="margin: 4.5pt 9.75pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instruct, on the date of the notice referred to in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.5.1(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Expert</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">act as an expert and not as an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitrator;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">carry out a medical examination of ROSM, in the place where he</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">located</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Physician</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determines</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that the examination requires medical equipment </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or facilities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">located in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hospital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">facility,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hospital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">facility</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nearest to the city where he is then located), for the purposes of determining whether or not ROSM is Disqualified;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> in writing, within 10 Business Days of examining </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">ROSM </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(if applicable) or being instructed, each of Cosan, the Downstream Co, Shell and ROSM, of whether he or she considers ROSM to be Disqualified;</font></p>
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<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, in any event, if the Expert has been unabl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e to carry out such medical examination of ROSM within 10 Business Days of being instructed, because</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unwilling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">submit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">himself</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereto,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after the expiry of such period, be automatically determined to be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualified.</font></p>
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<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.5.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall use their respective reasonable endeavours to provide the Expert with such information as may be desirable or necessary, in the opinion of the Expert, including any reports provided by the first and second Qualifying Physician for the purpose</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s of carrying out such medical examination;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
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<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may, within 5 Business Days of the Expert's appointment, make</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">written submissions to the Expert and/or send documents to him or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">her.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.5.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The decision of the Expert as notified to each of the Notifiable Persons </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.5.1(c)(iii), </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be final and binding on the Parties and the Expert shall not be required to give reasons for his or her</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">decision.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">3.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The fees, costs and expenses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.6.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the first Qualifying Physician shall be borne by the First</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.6.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the second Qualifying Physician shall be borne by the Second Party;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">3.6.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any Expert shall be borne by the First Party where ROSM is determined not to be Disqualified, and by the Second Part</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">y where he is determined to be Disqualified in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.5.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">4.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bbcbc_3QBH8DY0CW00000000000000000000" class="customBookmark">DISQUALIFICATION</a> CALL</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> applies where Shell holds, directly or indirectly, Shares in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deceased,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">his</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">estate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying Replacement)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">holds,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">directly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">indirectly,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<div>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.5pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM has been determined Disqualified in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or Deceased or where Shell has served notice to Cosan stating that ROSM is missing and has not attended meetings of the Supervisory Board (or equivalent body) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Downstream Co or of any other JV Entity (to the extent ROSM is a member of such Supervisory Board (or equivalent body) of any other JV Entity) for a consecutive period of 12 months.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan irrevocably grants to Shell an option to buy, and to require</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Cosan to sell the Cosan Total Interest, such Option to be exercisable during the Disqualification Call Option Exercise Period in accordance with this Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.25pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that Shell exercises the Disqualification Call Opt</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ion in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall sell, and Shell shall buy, the Cosan Total Interest and each right attaching to the Cosan Total Interest on the applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Disqualification Call O</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ption may be exercised in respect of all (but not less than all)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivery</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice relating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">during</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call Option Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The price to be paid in respect of the Disqualification Call Option will be an amount equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">calculated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i) delivery of the first Qualifying Physician Notice, (ii) death as written on the Death Certificate, or (iii) the notice served by Shell on Cosan after ROSM has been missing and has not attended meetings of the Supervisory Board (or equivalent body) of t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Downstream Co or of any other JV Entity (to the extent ROSM is a member of such Supervisory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Board</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equivalent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">body)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consecutive</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period of twelve months (as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable).</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If Shell exercises the Disqualification Call Option Shell shall pay Cosan the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4.6.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in full on the applicable Option Completion Date;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4.6.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dat</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remaining</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">quarterly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instalments, commencing on the Option Completion Date, for a period of 33 months from such applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">After Shell delivers an Exercise Notice in respect of the Disqualification Call Option, Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">revoke</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">written</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consent,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">failing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which it shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocable.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">4.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion of the Disqualification Call Option shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">oc</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cur:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receipt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise Notice relating to the Disqualification Call Option;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the Option Completion is subject to the approval of any applicable Governmental Authority, 20 Business Days after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.65pt 0pt 118.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">necessary approvals have been received, and the requirement to obtain such approval shall be subject to the Part</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ies' obligation to use their respective reasonable endeavours to consummate the transaction as promptly as reasonably practicable; and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">4.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">5.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bbvcb_N3WMFNYGU800000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">DISQU</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ALIFICATION </font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">PUT OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> applies if Shell does not exercise the Disqualification Call Option during the Disqualification Call Option Exercise Period (such Disqualificatio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n Call Option having been applicable in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">).</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell irrevocably grants to Cosan an option to sell to Shell, and to require Shell to buy the Cosan Total Interest, such Option to be exercisable during the Disqualification Put Option Exercise Period in accordance with this Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.3pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that Cosan exercises the Disqualification Put Option in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall sell, and Shell shall buy, the Cosan Total Interest and each right attaching to the Cosan Total Intere</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">st on the applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Put</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(but</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">less</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all) of the Cosan Total Interest by the delivery by Cosan to Shell of the Exercise Notice relating to the Disqualification Put Option at any time during the Disqualification Put Option Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Subjec</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t to Clause 5.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the price to be paid in respect of the Disqualification Put Option will be an amount equal to the Cosan Downstream Co Value, to be calculated as at the date of (i) delivery of the first Qualifying Physician Notice, (ii) death as written on the Death Certi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ficate or (iii) the notice served by Shell on Cosan after ROSM has been missing and has not attended meetings of the Supervisory Board (or equivalent body) of the Downstream Co or of any other JV Entity (to the extent ROSM is a member of such Supervisory B</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">oard (or equivalent body) of any other JV Entity) for a consecutive period of twelve months (as applicable).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercises</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Put</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pay</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.6.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in full on the applicable Option Completio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n Date;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.6.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days prior to the Option Completion Date, 50 per cent. on the Option Completion Date, and the remaining 50 per cent. in equal quarterly instalments, commencing on the Option Completion Date, for a period of 33 months from such applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">After Cosan delivers an Exercise Notice in respect of the Disqualification Put Option, Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">revoke</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prior</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">written</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consent,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">failing which it shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocable.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion of the Disqualification Put Option shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occur:</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>42</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: 4.5pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receipt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise Notice relating to the Disqualification Put Option;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the Option Completion is subject to the approval of any applicable Governmental Authority, 20 Business Days after all necessary approvals have been received, and the requirement to obtain such approval shall be subject to the Parties' obligation to u</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">se their respective reasonable endeavours to consummate the transaction as promptly as reasonably practicable;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">5.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that the Option Completi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on relating to the Disqualification Put Option is subject to the mandatory approval of any applicable Governmental Authority and such Governmental Authority provides written or other formal notification, prior to the Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">connection with the exercise of the Disqualification Put Option is rejected (a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Non-Approval</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), then:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.9.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell may (at its sole election) waive the requirement for such approval and complete the acquisition of the Cosan Total Interest; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Option Completion may proceed whether or not the relevant Governmental Authority provides any notification </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in relation to the exercise of the Disqualification Put Option.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">5.9.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that Shell does not waive such approval, Shell shall have a period of 3 years from the date of the Non-Approval to nominate any other Person to purchase (or otherwise purchase it</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">self) the Cosan Total Interest in accordance with the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell may exercise this right by providing notice to Cosan of such exercise;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any such purchase by such Person (or Shell) shall be at the Cosan Downstream Co Value (as determined as of the D</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ownstream Co Value Date in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) and must be completed as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">promptly as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">practicable,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">months</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date of the notice referred to in (a) above; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this peri</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">od may be extended by a written agreement between Cosan and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject to (b) above, if a sale of the Cosan Total Interest to the relevant Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prior</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expiry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">year period Cosan may sell the Cosan Total Interest to a Qualifying Offeror at any price (and, for the avoidance of doubt, such sale shall not be subject to the Lock-up Period or the Pre-emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Right);</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall, for the benefit of the purchaser of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Cosan Total Interest under this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.9.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, give certain representations and warranties</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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>
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<p style="margin: 4.5pt 0pt 0pt 118.05pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably acceptable to Cosan and the purchaser but, in any event, no more onerous than the Cosan Warranties; and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.6pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each of the Cosan Fundamental Breach Option and the Shell Fundamental Breach Option shall continue to apply, and shall take precedence</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">throughout</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">year</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">over</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">during</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">year</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell has the right to exercise a Shell Fundamental Breach Option, the price to be paid by the relevant Person for the Cosan Total Interest, as contemplated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5.9.2,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resp</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Shell Fundamental Breach Option or the Cosan Downstream Co Value as determined in accordance with paragraph (b) above, selected at Shell's sole</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">discretion.&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0.05pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Baddg_VTG27BQE9C00000000000000000000" class="customBookmark">SECTION</a> FOUR: TRANSFER RESTRICTIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">6.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B66_DDWB0TGVR400000000000000000000" class="customBookmark">LOCK</a>-UP</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">PERIOD</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">6.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 4,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the prior</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">written</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">during</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period from the Amendment and Restatement Date to the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of (i) the fifth anniversary of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Amendment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Restatement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Initial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Lock-up</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">end of any extension of the Initial Lock-up Period mutually agreed by the Parties in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> inclusive below (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extended Lock-up Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">", and together with the Initial Lock-up Period, the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Lock-up Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") each Shareholder undertakes to the other Shareholder(s) and agrees that it shall not Transfer any par</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t of its Bound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares.&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">6.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">either</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">wish</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lock-up</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">they</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">falling no later than six months prior to the end of the then current Initial Lock-up Period or Extended Lock-up Period (as applicable), deliver a notice to the other Party (an "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extension Request Recipient</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") requesting an extension of the Lock-up Period in</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the form set out in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 6 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to this Agreement (an "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extension Request</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 5.65pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">6.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If following receipt of an Extension Request Notice, the Extension Request Recipient also wishes to extend the then current Initial Lock-up Pe</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">riod or Extended Lock-up Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">counter</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sign</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Extension</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Request</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(such countersigned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Extension</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Request</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">being</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Extension</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Request</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Confirmation</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") and return it to the other Party by the date falling no lat</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">er than four months prior to the end of the then current Initial Lock-up Period or Extended Lock-up Period (as applicable).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">6.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Following delivery of an Extension Request Confirmation by an Extension Request Recipient to the other Party, the then current Init</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ial Lock-up Period or Extended</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lock- up Period (as applicable) shall be automatically extended by a period of three years</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or such other time period as is set out in the Extension Request Notice and agreed to in the Extension Request</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Confirmation).</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">6.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">There is no limit on the number of times which a Party may submit an Extension Request Notice and there is no limit on the number of times the Lock-up Period may be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extended.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">6.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If Royal Dutch Shell completes an RDS Global Downstream Dispo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sal in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below, the then current Initial Lock-up Period or Extended Lock-up Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">immediately</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terminate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS Global Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">7.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B7777_00QJ0WHTTC00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">POST </font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">LOCK-UP PERIOD PRE-EMPTION</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RIGHTS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Following expiry of the Lock-up Period, if a Shareholder (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Selling Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") wishes to Transfer its Shareholder Total Interest it shall only be permitted to do so in compliance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provisions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 16</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, or with the prior written consent of Cosan and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.25pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">A Selling Party may at any time Transfer its Shareholder Total Interest pursuant to a Third Par</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ty Offer if the Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after the Lock-up Period has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expired;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for the entire Shareholder Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.2.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to be paid for in cash on completion and/or Non Cash On Completion Consideration only, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no more than 35 per cent. of the aggregate value of the consideration (such aggregate value of the consideration being the total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cash</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">paid</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on completion of the Third Party Offer, (ii) the Liquid Securities Value, (iii) the Selling Party Fair Market Value, and/or (iv) the Selling Party Deferred Consideration Net Present Value) may be in the form of Non Cash On Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Consideration;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.2.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">intend</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ed to be to a Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offeror;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.2.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">when</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been served,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">alleged</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">referred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been resolved or determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.2.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant to a Third Party Offer which complies with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Selling Party shall ensure that any binding agreement in relation to a Third Party Offer shall (in addition to a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ny regulatory or other conditions) be conditional</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Selling Party delivering a Third Party Offer Notice to the other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Selling Party procuring that the Continuing Shareholder is offered the right to acq</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">uire all (but not some) of the Selling Party's entire Shareholder Total Interest at the same price and on the same terms (other than in relation to any Non</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cash</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.8.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">below)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specified</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sale</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purchase</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">documenting the Third Party Offer which shall be delivered to the Continuing Shareholder with the Third Party Offer Notice) (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Pre-emption Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.3.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Continuing Shareholder not exercising its Pre-emption Right in accordance with this C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lause 7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>45</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the aggregate value of any Illiquid Securities Consideration Value and any Deferred Consideration Net Pr</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">esent Value determined by the Independent Non Cash Consideration Valuer is lower than 90 per cent. of the aggregate value of the Selling Party Fair Market Value and the Selling Party Deferred Consideration Net Present Value then the Selling Party shall hav</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e a period commencing on the date on which the latter of the Illiquid Securities Consideration Value and/or Deferred Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Net Present Value is finally agreed or determined (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Final Determination Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") in accordance with the provisions of this </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and ending on the date which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Final</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Determination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer Withdrawal Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") to decide whether or not to withdraw the Third Party Offer Notice (by notifying the Continuing Shareholder in writing) and retain its Shareholder Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Third Party Offer Notice is withdrawn in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then:</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;"><br></font></p>
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<td style="vertical-align: top; width: 4%; padding: 0px 0px 10px;" valign="top"><br></td>
<td style="vertical-align: top; width: 4.7359%; padding: 0px 0px 10px;" valign="top"><font style="color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">7.5.1</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="vertical-align: top; width: 91.2641%; padding: 0px 0px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">any Exercise Notice served by the Continuing Shareholder in accordance with Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">7.7</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;shall be invalid and of no effect;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font></font></td>
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<td style="vertical-align: top; width: 4%;" valign="top"><br></td>
<td style="vertical-align: top; width: 4.7359%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">7.5.2</font></td>
<td style="vertical-align: top; width: 91.2641%;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the Selling Party shall not enter into another Third Party Offer for a&nbsp;peri</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">od of 12 months following the date on which the Selling Party withdrew the Third Party Offer</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notice.</font></font></td>
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<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Except as provided in Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 7.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Third Party Offer Notice shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocable.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Continuing Shareholder shall have a period commencing on the date on which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Selling Party delivers the Third Party Offer Notice to the Continuing Shareholder (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Offer Notice Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") and ending on the date which is the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">90 days a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fter the Third Party Offer Notice Date;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if the consideration payable pursuant to the Third Party Offer consists of Non Cash On Completion Consideration, subject to the Selling Party not withdrawing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above, 10 Business Days after the date on which the Third Party Offer Withdrawal Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expires,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in which to decide whether to deliver an Exercise Notice in respect of its Pre-emption Right (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Pre-emption Exercise Pe</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">riod</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">During</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Pre-emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivering an Exercise Notice to the Selling Party, exercise the Pre-emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Right:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the consideration payable pursuant to the Third Party Offer is entirely in cash pa</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">yable in full on completion of the Third Party Offer, at the price and on the terms each as notified to it in the relevant Third Party Offer Notice, to be paid by the Continuing Shareholder in cash in full on completion of the Pre- emption Right pursuant t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o the Exercise Notice;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">7.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the Third Party Offer consists of (i) cash and (ii) Non Cash On Completion Consideration, on equivalent terms to those set out in the Third Party Offer Notice (other than as provided in this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.8.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) and at a price equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the amount of the cash consideration to be paid by the Continuing Shareholder in cash in full on completion of the Pre-emption Right pursuant to the Exercise Notice;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">plus</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with respect to any Deferred Consideration the amount(s) of the Deferred Consideration to be paid by the Continuing Shareholder at its election,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">either:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in cash on the same terms (including in respect of any interest which accrues on the Deferred Consider</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ation under the terms of the Third Party Offer) and on the same date(s) as such Deferred Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">would</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third Party Offeror pursuant to the Third Party Offer;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic; letter-spacing: -0.6pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in cash in an amount equal to the Deferred Consid</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">eration Net Present Value;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">plus</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Non</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cash</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Consideration,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Non Cash Consideration Value to be paid in full on completion of the Pre- emption Right pursuant to the Exercise Notice at the Continuing Shareholder's elec</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tion in any combination of cash, Liquid Securities or Continuing Shareholder Securities (where the aggregate value of the cash, Liquid Securities Value and Continuing Shareholder Securities Value shall be equal to the Non Cash Consideration Value), </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provide</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">d that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if the Continuing Shareholder elects to pay in Liquid Securities and/or Continuing Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Continuing Shareholder shall set out in the Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice:</font></p>
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<td style="padding: 0px 0px 15px; vertical-align: top; width: 18.0376%;" valign="top"><br></td>
<td style="padding: 0px 0px 15px; vertical-align: top; width: 3.13819%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.466667px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(A)</font></td>
<td style="padding: 0px 0px 15px; vertical-align: top; width: 78.8242%;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the number of Liquid Securities to be issued or transferred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">completion</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Pre- emption</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Right;</font></td>
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<td style="padding: 0px 0px 15px; vertical-align: top; width: 18.0376%;" valign="top"><br></td>
<td style="padding: 0px 0px 15px; vertical-align: top; width: 3.13819%;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.466667px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(B)</font></td>
<td style="padding: 0px 0px 15px; vertical-align: top; width: 78.8242%;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the number of Continuing Shareholder Securities to be issued or transferred to the Selling Party on completion of the Pre-emption Right;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">and</font></td>
</tr>
<tr>
<td style="vertical-align: top; width: 18.0376%;" valign="top"><br></td>
<td style="vertical-align: top; width: 3.13819%;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;">(C)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
<td style="vertical-align: top; width: 78.8242%;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the rights and restrictions (if any) which will be<font>&nbsp;</font></font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">attached<font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to the Liquid Securities and/or Continuing Shareholder Securities</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">issued</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">transferred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">Party;</font></td>
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</table>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt 9.95pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Selling Party shall be entitled to dividends in respect of the Liquid Securities and Continuing Shareholder Securities to </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;">be </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">issued or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transferred to the Selling Party on completion of the Pre-emption Right (as if it already held the Liquid Securities or Continuing Shareholder Securities to which it is entitled in accordance with this C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lause 7.8.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(c)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) from the Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Within 5 Business Days of the Exercise Date, the Continuing Shareholder agrees to reimburse the Selling Party an amount equal to any costs and expenses incurred by the Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reimburse</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pay</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font></p>
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<p style="margin: 4.5pt 7.05pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party Offeror in respect of the failure of the Third Party Offer to be completed solely as a result of the exercise of the Pre-emption Right by the Continuing Shareholder, up to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">maximu</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">m</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">US$</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5,000,000</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(together</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">VAT</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereon).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.10</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Whilst the relevant Shares comprising the Shareholder Total Interest are the subject of a Third Party Offer Notice such Shares may not be Transferred otherwise than in accordance wit</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">h the terms of this Agreement (including for the avoidance of doubt, upon exercise of a Cosan Fundamental Breach Option or a Shell Fundamental Breach Option) without the prior written consent of the Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.11</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion of the Pre-emption Ri</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ght shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occur:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.11.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 15 Business Days after receipt by the Selling Party of the Exercise Notice; and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the Option Completion is subject to the mandatory approval of any applicable Governmental Authority, 20 Business Days after all necessary approvals have been received, and the Parties' agree to use their</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">endeavours</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obtain</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">necessary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approvals and to complete the Pre-emption Right as promptly as reasonably practicable;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.11.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.12</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.12.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notifies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selli</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ng</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">does</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">intend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">submit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise Notice;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.12.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">does not submit an Exercise Notice pursuant to this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within the Pre- emption Exercise Period (in either case being a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Waiver</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"),</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Continuing Shareholder shall be deemed on such date (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Waiver Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") not to have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Pre-emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.14</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">further rights under this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.13</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Continuing Sharehold</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">er has granted a Waiver in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> above, then the Selling Party shall be entitled to complete the Third Party Offer with the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offeror,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">price</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer Notice delivered to the Continuing Shareholder pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.3.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, by the date falling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">18</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">months</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Waiver</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercise Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.14</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.14.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has not</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> completed the Transfer to the Third Party Offeror in accordance with the Third Party Offer within the Third Party Offer Exercise Period;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.14.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">wishes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">price</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">related</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">structure</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of payment,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">legal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">contracts,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">their</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 4.5pt 6.95pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">representations or warranties which would materially increase the balance of liabilities,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">credit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">support</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">being</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">made</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">available</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">submit a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">further</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">60</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Pre-emption</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivery</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise Notice to the S</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.15</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event the Continuing Shareholder decides to exercise its Pre-emption Right following the receipt of a further Third Party Offer Notice in accordance with Clause 7.14 then:</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.15.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">must</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deliver</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">further</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling Party;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.15.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if and to the extent required in respect of any amendments to the Non Cash On Completion Consideration, the valuation process as set out in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.8 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Schedule 9 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be repeated by reference to the amendments only;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.15.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shall apply to completion of the Pre-emption Right, except that Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.11.1(a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be interpreted as meaning the date which is 15 Business Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receipt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">further</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required by Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.15.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.16</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.11.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) the Continuing Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fails:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.16.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the consideration consists of cash consideration, to pay the amount due to the Selling Party in cash on the terms determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.16.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the consideration consists of Continuing Shareholder Sec</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">urities, to issue or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">number</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party as determined in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.16.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the consideration consists of Liquid Securities, to transfer or procure the issue of the number of Liquid Securities to the Selling Party as determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 121.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">7.16.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to comply with its obligatio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ns under Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">22</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">then:</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entitled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accept</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">complete</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party Offer in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.12 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as if the Continuing Shareholder had not submitted an Exercise Notice; and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Continuing Shareholder shall have no claim for damages or compensation (or otherwise) against the Selling Party in respect of the Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 4.5pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">7.17</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notwith</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">standing any other provisions of this Agreement (and, for the avoidance of doubt, other than as provided in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), no Shareholder shall be permitted (including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">xpiry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Lock-up</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">effect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Partial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer other than in respect of its Unbound Shares in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">8.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B8888_SL0HNJZZGG00000000000000000000" class="customBookmark">UNBOUND</a> SHARES RIGHT OF FIRST</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: 0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">REFUSAL</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Subject to Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.4.4(c) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.5.4(c)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, if at any time, Shell or Cosan (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">wishes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Unbound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">permitted to do so: (i) in compliance with the provisions of this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3(b) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 21.4.1(c)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder&#8217;s</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; or (iii) with the prior written consent of Cosan and Shell.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">No Transfer of Unbound Shares pursuant to this</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Clause 8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">permitted:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unless the ROFR Selling P</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arty has first served a notice in writing (a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transfer Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") on the other Shareholder (which: (i) in the case where the ROFR Selling Party is Shell, means Cosan; or (ii) in the case where the ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling Party is Cosan, means Shell) (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ee</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") of its intention to Transfer some or all of its Unbound</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.2.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, unless at the time that any legally binding documentation in respect of the Transfer is entered into, no Breach Notice has been se</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rved or, if a Breach Notice has been served, the alleged Fundamental Breach referred to in a Breach Notice has been resolved or determined in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.2.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unless</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which the alleged Fundamental Breach is (wholly or partly) in respect of the ROFR Selling Party's Fundamental Breach of this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.2.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if the proposed Transfer is pursuant to a Transfer Notice which</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> was served in contravention of Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Transfer Notice shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specify:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the aggregate number of Unbound Shares that the ROFR Selling Party holds</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as at the date of the Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the aggregate number of Unbound Shares (on the basis that, if applicable, any ordinary shares are converted into preferred shares in the capital of the Downstream Co in accordance with the Byelaws of the Downstream Co) that the ROFR Selling Party wishes to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Transfer (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.3.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">considers,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">good</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">faith,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that it will be able to complete the Transfer of the ROFR Securities pursuant to this Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.3.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> price at which the ROFR Selling Party is willing to Transfer each ROFR Security, which must be in cash and in US$ (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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 style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="font-size: 12pt; line-height: 187%; margin: 4.5pt 237.3pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.3.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any other terms of the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">Transfer, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(together the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.8.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, any Transfer Notice shall be revocable at any time (in respect of all or some of the ROFR Securities) by the ROFR Selling Party giving notice in writing to the ROFR Transferee prior to an Acceptance Notice being given by the ROFR Tran</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sferee within the ROFR Offer Period in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receipt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accept</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the ROFR Offer on the terms set out in the Transfer Notice in respect of all (but not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">some) of the ROFR Securities (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") by giving notice in writing to the ROFR Selling Party (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Acceptance Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") within 10 Business Days from the date of r</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">eceipt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer of the ROFR Securities shall complete in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">. Any Acceptance Notice, once given, shall be an irrevocable acceptance</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of the ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Either: (a) immediately upon the ROFR Transferee notifying the ROFR Selling Party in writing that it will not accept the ROFR Offer in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; or (b) if the ROFR Transferee has not accepted the ROFR Offer before the end of the ROFR Offer Period by giving an Acceptance Notice to the ROFR Selling Party in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the ROFR Transferee shall be deem</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ed to have fully, unconditionally and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">declined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entitled, acting in its sole discretion, to elect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.6.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer all (but not some) of the ROFR Securities to one or more persons</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who are not the ROFR Transferee (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third Party Investor(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, provided that any such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is for a price no less than the Offer Price per ROFR Security;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">contains terms which are n</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o more favourable to the Third Party Investor(s) than the terms of the ROFR Offer;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.6.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">revoke its Transfer Notice in respect of all (but not some) of the ROFR Securities,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">by delivering, in each case, an election notice (an "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Election Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") to the ROFR T</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ransferee within 20 Business Days of the expiry of the ROFR Offer Period. Subject always to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.8.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the ROFR Selling Party may, at any time after delivering an Election</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">make</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">further</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">election</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">revoke</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer Notice in respect of all (but not some) of the ROFR Securities by delivering a further Election Notice to the ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferee.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Transfer of the ROFR Securities or Remain</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ing ROFR Securities (as applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clauses</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (as applicable):</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">complete on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>51</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: 4.5pt 9.8pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 20 Business Days after receipt by the ROFR Selling Party of the Acceptance Notice or Second Acceptance Notice (as applicable) (or such other date agreed by the ROFR Selling </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party and the ROFR Transferee);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 6.8pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the Transfer of the ROFR Securities or Remaining ROFR Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">mandatory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approval</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of any applicable Governmental Authority, 20 Business Days after all necessary approvals have b</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">een received, and the Parties&#8217; agree to use their respective reasonable endeavours to obtain all necessary approvals and to complete the Transfer of the ROFR Securities or Remaining ROFR Securities (as applicable) as promptly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">practicable,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pro</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">vided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer has not completed on or prior to the date which is three months from the date of the Acceptance Notice or Second Acceptance Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extended</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed by the ROFR Selling Party and the ROFR Transferee) (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Long Stop Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), the Acceptance Notice or Second Acceptance Notice (as applicable) shall lapse and cease to be effective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deemed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fully, unconditionally</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and irrevocably declined the ROFR Offer or the Second ROFR Offer (as applicable) (and, in the case of a Transfer of ROFR Securities only (and not Remaining ROFR Securities), the ROFR Selling Party shall be entitled, acting in its sole discretion, to elect</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to: (A) Transfer all or some of the ROFR Securities to one or more Third Party Investors (subject to compliance with the restrictions in Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6.1(a) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) and the Transfer(s) of the ROF</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">R Securities shall complete in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; or (B) revoke its Transfer Notice (in respect of all or some of the ROFR Securities) and retain all or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">some</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivering,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font></p>
<p style="margin: 0.1pt 9.8pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(A)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nd (B), an Election Notice to the ROFR Transferee within 10 Business Days of the Long Stop Date. Subject always to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.8.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the ROFR Selling Party may, at any time after delivering an Election Notice pursuant to this Cla</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">use</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 8.7.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(A), make a further election to revoke its Transfer Notice in respect of all or some of the ROFR Securities by delivering a further Election Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to the ROFR Transferee)); and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">complete in accordance with Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 21</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the case of any Transfer to one or more Third Party Investors in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.1(a)(ii), </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">complete on one or more dates fixed by the ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Long</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Stop Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"):</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which is 20 Business Days after receipt by the ROFR Transferee of the Election Notice required to be provided by the ROFR Selling Party pursuant to Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 8.6 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.1(a)(ii) </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as applicable);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">r</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 9.75pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where a Transfer of any ROFR Securities is subject to the mandatory approval of any applicable Governmental Authority, the earlier of the date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is:</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">necessary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approvals</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been received; and (ii) the date which is three months after receipt by the ROFR Transferee of the Election Notice required to be provided by the ROFR Selling Party pursuant to Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.1(a)(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (as applicable),</font></p>
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<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">provided that (in each such case of Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">): (i) any ordinary shares in the capital of the Downstream Co that are ROFR Securities or Remaining ROFR </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities (as applicable) shall have been converted into preferred shares in the capital of the Downstream Co in accordance with the Byelaws of the Downstream Co prior to completion of any such Transfer(s) to a ROFR Transferee or any Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investors</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (as applicable); and (ii) as soon as reasonably practicable following: (A) completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Remaining</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities (as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable) to a ROFR Transferee or one or more Third Party Investors (as applicable); or (B)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the relevant Long Stop Date or Third Party Long Stop Date (as applicable) (in the case of Transfer(s) which do not complete), each of Shell and Cosan shall deliver in writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the other a notice confirming the aggregate number of Unbound Shares it holds</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> as of the date of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that the ROFR Selling Party elects to Transfer ROFR Securities to one or more Third Party Investors in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and the Transfer of all of such ROFR Securities is not completed pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by the relevant Third Party Long Stop</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date:</font></p>
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<p style="margin: 0.05pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">longer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entitled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">revoke</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice pursuant </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">8.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">must</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party Long Stop Date serve a notice in writing (a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second Transfer Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") on the ROFR Transferee that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifies:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the aggregate number of Unbound Shares that the ROFR Selling Party holds as at the date of the Second Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the aggregate number of ROFR Securities that the ROFR Selling Party has been unable to Transfer to one or more Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investors pur</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">suant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Remaining ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.6pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Offer Price for each Remaining ROFR Security, which must be the same Offer Price originally offered to the ROFR Transferee in the Transfer Notice in accordance </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with Clause 8.3.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">must</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">same</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">originally offered to the ROFR Transferee in the Transfer Notice in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.3.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(together, t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second ROFR Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>53</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: 4.5pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">On receipt of a Second Transfer Notice, the ROFR Transferee shall have the right to accept the Second ROFR Offer in respect of some, or all, of the Remaining ROFR Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Right</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">giving</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling Party specifying the number of Remaining ROFR Securities it wishes to acquire (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Second Acceptance Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") within 10 Business Days from the date of receipt of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Second Transfer Notice (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROFR Second Offer Peri</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">od</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), in which case, the Transfer of some, or all, of the Remaining ROFR Securities (as set out in the Second Acceptance Notice) shall complete in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.1.</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Any Second Acceptance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">once</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">given,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acceptance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR Offer in respect of the number of Remaining ROFR Securities set out in the Second Acceptance Notice.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.10</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Either: (a) immediately upon the ROFR Transferee notifying the ROFR Selling Party in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accept</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accepted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">before</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">end of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">giving</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Second</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Acceptance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR Selling Party in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.9, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the ROFR Transferee shall be deemed to have fully, unconditionally and irrevocably declined the Second ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.11</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that: (i) the ROFR Selling Party elects to Tra</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nsfer ROFR Securities to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">one or more Third Party Investors in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and (ii) the Transfer of all ROFR Securities is not completed pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.7.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by the relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Third Party Long Stop Date for any reason (including the subsequent revocation of such Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">serve a further Transfer Notice in respect of any of its U</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nbound Shares until the date which is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">six</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">months</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">originally</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8.2.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; and (b) the Long Stop Date (if applicable) in respect of any Second ROFR Offer that is made by the ROFR Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">8.12</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Within 10 days of the Termination Announcement Date, the Downstream Co shall deliver</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nfirming</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">aggregate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">number of Bound Shares and Unbound Shares held by Shell and Cosan as at the Termination Announcement Date. Absent manifest error, such notice shall promptly be countersigned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Upon</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">being</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">countersigned</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">osan,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such notice shall be determinative as between the Parties of the aggregate number of Bound Shares and Unbound Shares held by Shell and Cosan as at the Termination Announcement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</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'>54</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: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<h1 style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">9.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B9999_2K876JIFK000000000000000000000" class="customBookmark">INTRA</a>-GROUP</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">TRANSFERS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">9.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Nothing in Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prevent:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Royal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal,</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell shall notify Cosan and ROSM or after the Post ROSM Date, ROSM and/or (if applicable) the ROSM Qualifying Replacement in writing of the RDS Global Downstream Disposal within 5 Business Days of entering into a binding agreement in relation to such RDS </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global Downstream Disposal (and shall inform Cosan and ROSM </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after the Post ROSM Date, ROSM and/or (if applicable) the ROSM Qualifying Replacement of the identity of the Person or Persons with whom</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">binding</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tim</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such notification);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">immediately following completion of the RDS Global Downstream Disposal:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.25pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any references to Royal Dutch Shell or Shell UK Co in this Agreement shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">disregarded;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Shell Involuntary Delisting Call Option in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall cease to apply and be of no further force or effect;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(iii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">29.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall cease to apply and be of no further force or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">effect.&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sh</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ell and/or any Person to which a direct interest in the Downstream Co is Transferred in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") from effecting intra-group Transfers of its entire Shareholder Total Interest to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> any Person (i) prior to completion of an RDS Global Downstream Disposal, Controlled by Royal Dutch Shell, and (ii) following completion of an RDS Global Downstream Disposal, Controlled by the RDS Global Downstream Controller, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.65pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no such Trans</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fer (other than group Reorganizations with the consent of the other Shareholder(s), such consent not to be unreasonably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">withheld) shall relieve Shell or any Shell Transferor of any of its obligations hereunder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">enlarge,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">alter</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">change</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereto;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell or any Shell Transferor (as applicable) shall notify the other Shareholder(s) of the identity of any such proposed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transferee;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.2(d)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.2(e)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations of Shell or any Shell Transferor to the other Shareholder(s) under the Shareholder Adherence Agreements are also assumed by the transferee in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>55</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: 4.5pt 9.8pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prior</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall procure that if such transferee ceases to be Controlled by Royal Dutch Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be Transferred to another entity Controlled by Royal Dutch Shell;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or the New Shell Shareholder (as applicable) shall procure that if such transferee ceases to be Controlled by the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS Global Downstream Controller</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder(s) shall be Transferred to another entity Controlled by the RDS Global Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controller.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan S.A., Cosan Investimentos and/or any Person to which a direct </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest in the Downstream Co is Transferred in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") from undertaking intra-group Transfers of its Shareholder Total Interest to any Person Controlled by ROSM or following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following such Transfer, there is at least one Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">osan S.A., Cosan Investimentos and/or any Cosan Transferor shall only be permitted to make a Partial Transfer in order</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(if applicable) consolidate the direct interests of Cosan S.A. and Cosan Investimentos in the Downstream Co into a single transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">implement a structure of a similar purpose as in place as at the Amendment and Restatement Date </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">there shall never</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">more</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">three</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">who</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hold</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entire</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no such Transfer shall relieve Cosan S.A., </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Investimentos or any Cosan Transferor of any of its obligations hereunder or enlarge, alter </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">change any right or obligation of any other Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereto;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 5.9pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable) shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">identity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">proposed transferee;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(e)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(f),</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> any obligations of Cosan S.A., Cosan Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder(s</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under the Shareholder Adherence Agreements are also assumed by the transferee in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(f)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan S.A. and/or Cosan Investimentos shall procure that if such transferee ceases to be Controlled by ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> or following the Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement, any obligations of such transferee to the other Shareholder(s) shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>56</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 9.75pt 0pt 118.05pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">another</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Post ROSM Date, ROSM and/or a ROSM Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Replacement.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">9.1.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">A New Shareholder and/or any Person to which a direct interest in the Downstream Co is Transferred in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.4 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transfero</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">r</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">undertaking</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">intra-group</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfers</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entire Shareholder Total Interest to any Person Controlled by the New Shareholder Controller, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no such Transfer shall relieve the New Shareholder or any New Shareholder Transferor of any of i</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ts obligations hereunder or enlarge, alter or change any right or obligation of any other Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereto;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable) shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">identity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">proposed transferee;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(d)</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, any obligations of the New Shareholder or any New Shareholder Transferor to the other Shareholder(s) under the Shareholder Adherence Agreements </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are also assumed by the transferee in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 12.55pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.45pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the New Shareholder shall procure that if such transferee ceases to be Controlled by the New Shareholder Controller, any obligations of </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">such </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transferee </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the other Shareholder(s) shall be Transferred to another entity Controlled by the New Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controller.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>57</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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<h1 style="margin: 10.9pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bkop_B78WCSZIG000000000000000000000" class="customBookmark">SECTION</a> FIVE: FUNDAMENTAL BREACH</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">10.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B10140_FP48ORLROW00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">FUNDAMENTAL</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">BREACH</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">10.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If a Party (other than the Downstream Co) (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach Notice Sender</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") alleges in good faith that any other Party (other than the Downstream Co) (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach Notice Recipient</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") or ROSM or Aguassanta has committed a Fundamental Breach it shall notify the Breach Notice Recipient, the other Parties, ROSM and Aguassanta giving</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> details of the alleged Fundamental Breach and the reasons why it considers that a Fundamental Breach has occurred (a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">10.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receipt</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice Recipient shall notify the Breach Notice Sender, the other Parties and ROSM if it disputes the existence of the Fundamental Breach alleged (a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">10.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Breach Notice Recipient disputes the existence of the alleged Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the matter shall be referred to the Cosan Shareholder Representative and the Shell Shareholder Representative, who shall use all reasonable endeavours to resolve the matter as early as possible and in any event within 20 days of the date of delivery of t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;">10.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If a matter is not resolved in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, it may be referred by either the Breach Notice Sender or the Breach Notice Recipient (with written notice to the other)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fin</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ally</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resolved</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">that</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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><br></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">no such matter shall be presented for arbitration prior to the end of the 20 day cure period se</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t out in Clause 10.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, other than by agreement between both Cosan and Shell.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">10.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">I</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n the event that a Breach Notice is delivered by a Party after: (i) a Third Party Offer Notice has been delivered to the Continuing Shareholder; or (ii) a Transfer Notice has been delivered to the ROFR Transferee;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">10.5.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a potential transfer to a Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Offeror or a potential Transfer of ROFR Securities or Remaining ROFR Securities (as applicable) to the ROFR Transferee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investor(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not completed;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">10.5.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an Arbitrator dete</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rmines in accordance Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that:</font></p>
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<td style="vertical-align: top; padding: 12px 0px; width: 5%;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.25pt;">(a)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;&nbsp;</font></font></td>
<td style="vertical-align: top; padding: 12px 0px; width: 85%;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">delivery</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">such</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Breach</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notice</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">was</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">frivolous</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">vexatious</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">nature; and</font></font></td>
</tr>
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<td style="vertical-align: top; padding: 0px 0px 12px;" valign="top"><br></td>
<td style="vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.25pt;">(b)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font></td>
<td style="vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the reason the potential transfer to the Third Party Offeror or the potential Transfer of ROFR Securities or Remaining ROFR Securities (as applicable) to the ROFR Transferee or Third Party Investor(s) (as applicable) pursuant to Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">did not complete was, in whole or in part, because of the serving of the Breach</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Notice,</font></font></td>
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</table>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">then the Party serving the frivolous and vexatious Breach Notice shall be liable to the Selling Party or ROFR Selling Party (as applicable) for any damage</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s arising directly out of, or in connection with, the delivery of such a Breach Notice, as such Arbitrator shall decide.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">10.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">damages</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10.5,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which served the frivo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">lous and vexatious Breach Notice may elect to purchase the Selling Party's Shares for the same price and on the same terms as set out in the relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third Party Offer Notice in lieu of the payment of damages as determined by the Arbitrator (plus interest </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accruing at the Default Interest Rate (the Parties acknowledge and agree that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">SELIC,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">standard</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">benchmark</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest in relation to matters connected with a business, such as the Joint Venture, whose primary operations are in Brazil), compounded monthly, commencing on the date that such Arbitrator shall determine such interest should start to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accrue).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">11.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B111111_WEQ1L5TLI800000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"> FUNDAMENTAL BREACH</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">committed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(either</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as agreed between the Parties or as determined in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">).&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grants</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">buy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">require</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sell,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell Total Interest, such option to be exercisable during the Cosan Fundamental Breach Option Exercise Period in accordance with this Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that Cosan exercises the Cosan Fundamental Breach Option in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell shall sell, and Cosan shall buy, the Shell Total Interest and each right attaching to the Shell Total Inter</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">est on the applicable Option Completion Date.</font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>59</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: 4.5pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Cosan Fundamental Breach Option may be exercised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of all (but not less than all) of the Shell Total Interest;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by the delivery by Cosan to Shell of the Exercise Notice relating to a Fundamental Breach by Cosan at any time during the Cosan Fundamental Breach Option Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The price to be paid in respect of the Cosan Fundamental Breach Option will be an am</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ount equal to 85 per cent. of the Shell Downstream Co Value to be calculated as at the date of the Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If Cosan exercises the Cosan Fundamental Breach Option, Cosan shall pay the applicable Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.6.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in full on the applicable Option Completion Date relating to a Fundamental Breach by Shell;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.6.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option Completion Date, and the remaining 50 per cent in equal quarterly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instalment</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s, commencing on the Option Completion Date, for a period of 33 months from such applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion of the Cosan Fundamental Breach Option shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occur:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 15 Business Days after receipt by Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of the Cosan Exercise Notice relating to the Cosan Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 10 Business Days after the Option Price is finally determined;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.6pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if Cosan so elects, where the Option Completion is subject to the approval of any applicable Governmental Authority, 20 Business Days after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">necessary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approvals</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">received,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">requirement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to obtain such approval shall be subject to the Parties' obligation to use their</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">endeavours</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consummate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transaction</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as promptly as reasonably practicable;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">11.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Effective as of the Option Completion Date in respect of any Cosan Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">liability</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Losses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">defined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the Framework Agreement) that it may have incurred or suffered as a result of, or in connection with, the Fundamental Breach by Shell, except that, and only to the extent that, such Losses exceed 15 per cent. of the Downstream Co Value. As a result of </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">s</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">uch </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Losses, on and after the Option Completion Date in respect of any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the exercise of the Cosan Fundamental Breach Option shall be deemed to have provided Cosan with the exclusive remedy for, or arising in connection</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with,</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>60</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Fundamental Breach by Shell and any other related claim or matter where the Losses incurred or suffered by Cosan as a result of, or in connection with, the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">do</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exceed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Value;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">11.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remedy</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Losses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">do</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exceed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">recover the extent of such excess.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">12.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B121212_TV5U9NUA5C00000000000000000000" class="customBookmark">SHELL</a> FUNDAMENTAL BREACH</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applies if a Fundamental Breach has been committed by Cosan (either as agreed between the Parties or as determined in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">).</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan irrevocably grants to Shell an option t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o buy, and to require Cosan to sell, the Cosan Total Interest, such option to be exercisable during the Shell Fundamental Breach Option Exercise Period in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that Shell exercises th</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e Shell Fundamental Breach Option in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, Cosan shall sell and Shell shall buy the Cosan Total Interest and each right attaching to the Cosan Total Interest on the applicable Option Completion Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Shell Fundamental Breach Option may be exercised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of all (but not less than all) of the Cosan Total Interest;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.3pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by the delivery by Shell to Cosan of an Exercise Notice at any time during the Shell Fundamental Breach Option Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Period.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Other than where such Fundamental Breach relates to the Insolvency of ROSM, a ROSM Qualifying Replacement, Aguassanta or Cosan,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the price to be paid in respect of the Shell Fundamental Breach Option will be an amount equal to 85 per cent. of the Cosan Downstream Co Value, such Cosan Downstream Co Value to be calculated as at the date of the Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Where such Fundamen</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tal Breach relates to the Insolvency of ROSM, a ROSM Qualifying Replacement, Aguassanta or Cosan, the price to be paid in respect of the Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amount</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">98</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">calculat</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If Shell exercises the Shell Fundamental Breach Option, Shell shall pay the applicable Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in full on the Option Completion Date relating to a Fundamental Breach by Cosan; or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cent.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option Completion Date, and the remaining 50 per cent in equal quarterly instalments, commencing on the Option Completion Date, for a period of 33 months from such applicable Option Completio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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>
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<p><br></p>
<div>
<p style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion of the Shell Fundamental Breach Option shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occur:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 15 Business Days after receipt by Cosan of the applicable Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.2pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 10 Business Days after the applicable Option Price is finally determined;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approval of any applicable Governmental Authority, 20 Business Days after all necessary approvals have been received, and the requirement to obtain such approval shall be subject to the Parties' obligation to use their respective reasonable endeavours to c</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">onsummate the transaction as promptly as reasonably practicable;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 21 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Effective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brea</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ch Option, Cosan shall not have any liability to Shell for any Losses that it may have incurred or suffered as a result of, or in connection with, the Fundamental Breach by Cosan, except that and only to the extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.9.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> applies, such Losses exceed 15 per cent.;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0.05pt 107.1pt 0pt 46pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.9.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12.6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> applies, such Losses exceed 2 per </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">cent., </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Cosan Downstream Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value.</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">12.10</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">As a result of any such Losses set out in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause 12.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, on and after the Option Completion Date in respect of any Shell Fundamental Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.10.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the exercise of the Shell Fundamental Breach Option shall be deemed for all purposes to have provided Shell with the excl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">usive remedy for or arising in connection with the Fundamental Breach by Cosan and any other related claim or matter where the Losses incurred or suffered by Shell as a result of, or in connection with, the Fundamental Breach by Cosan do not exceed the per</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">centage set out in the applicable sub-clause of Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of the Downstream Co Value;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">12.10.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remedy</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Losses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exceed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">percentage</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sub-clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">recover</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">excess.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B1333333_EHU71WNANK00000000000000000000" class="customBookmark">SECTION</a> SIX: EVENT TRIGGERED CALL OPTIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">13.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B11113333_XIQZTA22G000000000000000000000" class="customBookmark">CHANGE</a> OF</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">CONTROL</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">13.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applies:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">13.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of Shell, if a Shell Change of Control Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurs;</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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>
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<p style="margin: 4.5pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">13.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of Cosan, if a Cosan Change of Control Event occurs;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">13.1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of any New Shareholder, if a New Shareholder Change of Control Event occurs on or following the date on which the New Shareholder becomes a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">13.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereby</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grants</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares have been Transferred in accordance with the provisions of this Agreement other than any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Royal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">buy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">require</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sell,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entire</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">upon</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurrence</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Change</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control Event (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Change of Control Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), such option to be exercisable during the Cosan Change of Control Option Exercise Period in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">13.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereby</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grants</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares have been Transferred in accordance with the provisions of this Agreement other than any Shareholder Controlled by ROSM or after the Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement) an option to buy, an</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d to require Cosan to sell, the entire Cosan Total Interest upon the occurrence of a Cosan Change of Control Event (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Change of Control Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") which in relation to a Cosan Change of Control Event which occurs after the Post ROSM Date, has not be</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">en remedied within 30 days of its occurrence, such option to be exercisable during the Shell Event Triggered Call Option Exercise Period in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">13.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each New Shareholder irrevocably grants to the other Sha</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reholder (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercising Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">buy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">require</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder to sell, the entire New Shareholder Total Interest upon the occurrence of a New Shareholder Change of Control Event (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercising Shareholder Change of Control Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"), such option to be exercisable during the Exercising Shareholder Change of Control Option Exercise Period in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">13.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Deceased</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disqualified</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall notify Shell in writing by no later than seven months after the Disqualification</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">names</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specific</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Family</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Members</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(and ROSM if applicable in case of Disqualification) who will hold the Controlling Interest in the Downstream Co immediately following the expiry of the Disqualification Call Option Exercise Period on the assumption that Shell does not exercise the Disqual</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ification Call Option (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ROSM Transition Period Qualifying Replacements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">13.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that ROSM (or the executors of ROSM's estate in the instance of ROSM being determined Deceased) has not completed any transaction, agreement, transfer or other arra</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ngement which, or any series of transactions, agreements, transfers or other arrangement which cumulatively, results in the ROSM Transition Period Qualifying Replacements having a Controlling Interest in the Downstream Co by the date falling seven months a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fter the Disqualification Notice Date, then Cosan undertakes to notify Shell in writing as soon as reasonably practical following completion of the transfer(s) which result in the ROSM Transition Period Qualifying Replacements having a Controlling Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>63</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<h1 style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">14.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B141414_ROHC1NKT2800000000000000000000" class="customBookmark">SHELL</a> FINANCIAL COVENANTS CALL</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Cosan Debt Default occurs at any time;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of any Relevant Period:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Leverage Ratio exceeds 4.5:1; and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Interest Cover Ratio is less than 2:1;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Gearing exceeds 65 per cent.; and,</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(each threshold being the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Financial Covenant Default Ratios</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"); and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the extent Topco has no Rating or has a Rating and any one of the Ratings for Topco are lower than or equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">B+ by S&amp;P or Fitch;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">B1 by Moody's,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(together a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan Financial Covenant Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Topco shall notify Shell of any Cosan Debt Default </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">promptly upon becoming aware</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of its occurrence and shall promptly upon request by Shell deliver a certificate signed by two of its directors certifying that no such Cosan Debt Default is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">continuing.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Top</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">co shall deliver to Shell copies of its Starting Financial Statements, its Adjusted Financial Statements and the Calculations Spreadsheet:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for as long as a member of the Cosan Group holds a Controlling Interest in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">publishes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Starting Financial Statements in accordance with the requirements of the relevant Recognised Stock Exchange;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in the event Shares held by Cosan (being the Cosan Total Interest) have been Transferred to a New Shareholde</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">r in accordance with the terms of this Agreement:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">listed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">stock</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exchange,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on which it publishes its Starting Financial Statements in accordance with the requirements of the relevant stock exchange, or</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and Topco is not listed on a stock exchange, within 20 days after the date which is the earlier</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 154.05pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the period ending 120 days after the last day of the Relevant Period;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 10pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the last day on which the Starting Financial Statements must be signed by the directors of Topco in accordance with applicable Law.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 7.1pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Topco shall deliver to Shell, at the same time as it delivers copies of its Starting Financial Statements, its Adjusted Fin</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ancial Statements and the Calculations Spreadsheet</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">written</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">statement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Compliance Certificate</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") signed on behalf of Topco by the finance director, or an individual authorised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">finance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">director</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sign</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Compliance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Certificate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">his</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">her</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">behalf, which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set out for the Relevant Period to which such Adjusted Financial Statements relate:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Leverage</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ratio;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Interest Cover Ratio;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Gearing,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">in each case, calculated by extracting line items from the Adjusted Financial Statements; and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rating,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ratings</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S&amp;P,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fitch and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Moody's.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purposes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">14</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notwithstanding</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">anything</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">contrary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out in this Agreement, in respect of a Relevant Period which occurs during or in respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Year</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ended</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">31</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">December</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2021,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Topco</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entitled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">show</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pro-forma accounts in its Starting Financial Statements, Adjusted Financial Statements and the Calculations Spreadsheet (as applicable) as if Rumo had been proportionally consolidated in Cosan S.A.&#8217;s financial statements for the entire Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Year.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">[No</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used]</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">[Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used]</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">14.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereby</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grants</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">buy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">require</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sell, the Cosan Total Interest upon the occurrence</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Cosan Debt Default;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Cosan Financial Covenant Breach that, subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, has not been remedied within 6 months of its occurrence by the delivery of a Compliance Certificate in respect of either of the two subsequent Relevant Periods demonstrating that there is no longer any Cosan Financial Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">venant Breach;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">14.8.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for as long as a member of the Cosan Group holds a Controlling Interest in the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rumo</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been remedied within 6 months of its occurrence by Rum</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o publishing the Rumo Accounts for the relevant Financial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Year,</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'>65</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">with such option to be exercisable during the Shell Event Triggered Call Option Exercise Period.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">15.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B151515_ZT9N4I6JUO00000000000000000000" class="customBookmark">SHELL</a> CORPORATE GOVERNANCE CALL</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">15.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Clause applies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">15.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a Controlling Entity does not have a person appointed to fulfil the role of CEO (or equivalent) for a continuous period of six months;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">15.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">does</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">file,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">publish</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">produce,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required in accordance with applicable Law, its Controlling Entity Financial Statements within the Reporting Deadline;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">15.1.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan or a New Cosan Shareholder (as applicable) which, in respect of the Downstream Co is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entitled:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to provide nominations for appo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">intments to the Executive Board;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to propose candidates for the CEO from the profiles provided by the Supervisory Board of the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and in either case, fails to provide such nominations or fails to propose such candidates within the time fram</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">es (if any) specified in the Shareholders' Agreement,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(each being a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Corporate Governance Default</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">15.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereby</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grants</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">buy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">require</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sell, the Cosan Total Interest upon the occurrence of a Corporate Governance Default that, subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, has not been remedied within 90 days of its occurrence, such option to be exercisable during the Shell Event </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Triggered Call Option Exercise Period in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Corporate Governance Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">16.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B161616_TD9ZMW2LVK00000000000000000000" class="customBookmark">SHELL</a> INVOLUNTARY DELISTING CALL</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">16.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Clause applies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">16.1.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM or on or after the Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement holds a Controlling Interest in the Downstream Co;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">16.1.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of a Controlling Entity:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its Public Securities are subject to Involuntary Suspension;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 187%; margin: 0pt 177.2pt 0pt 82pt; orphans: 0; text-indent: 0pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it is subject to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Involuntary Delisting, (each a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Listing Default</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">16.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hereby</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">irrevocably</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grants</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">buy,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">require</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sell, the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Total</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">upon</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurrence</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Listing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Default</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">remedied</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">4</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">months</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occurrence,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>66</font></font></td>
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<p style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><br></p>
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<td style="vertical-align: top; width: 95.1006%; padding: 0px 0px 12px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">exercisable</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.75pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">during</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.75pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Shell</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Event</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Triggered</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Call</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Option</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Exercise</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.75pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Period</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">accordance with Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">17&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(the "</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Shell Involuntary Delisting Call</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Option</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">").</font></font></td>
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<td style="vertical-align: top; width: 4.89943%;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">16.3</font></td>
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<p style="margin: 0px; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; text-indent: 0px;"><font style="font-size: 12pt;"><font style="font-family: 'Times New Roman';">In</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">event</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">New</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">Cosan</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">Shareholder</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">acquires</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">direct</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">interest</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">Downstream</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">Co, the Shell Involuntary Delisting Call Option shall cease to apply from the date of compl</font><font style="font-family: 'Times New Roman';">etion of the Third Party Offer pursuant to which the New Cosan Shareholder becomes a Shareholder and the reference to Cosan in Clause&nbsp;</font><font style="font-family: 'Times New Roman';">16.2&nbsp;</font><font style="font-family: 'Times New Roman';">above shall not be deemed to be a reference to such Shareholder in accordance with Cl</font><font style="font-family: 'Times New Roman';">ause</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="font-family: 'Times New Roman';">27.5.</font></font></p>
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<h1 style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">17.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B171717_8L0MBBJANK00000000000000000000" class="customBookmark">EXERCISING</a> CALL</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTIONS</font></h1>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">A Shell Event Triggered Call Option may be exercised by Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only:</font></p>
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<td style="width: 5.61455%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.1</font></td>
<td style="width: 88.9343%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">subject to Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">17.4&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">17.5</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, at any time during the period starting on (and including) the date on which such Shell Event Triggered Call Option becomes exercisable in accordance with Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">13.3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">14.8</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, Clause</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">15.2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">16.2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;or Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">17.5</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, as applicable, to (and including) the date falling 90 days thereafter (the "</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Shell Event Triggered Call Option Exercise</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Period</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">");</font></font></td>
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<td style="width: 5.45104%; vertical-align: top; padding: 12px 0px;" valign="top"><br></td>
<td style="width: 5.61455%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.2</font></td>
<td style="width: 88.9343%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in respect of all (but not less than all) of the&nbsp;Cosan&nbsp;Total Interest or New Shareholder Total Interest, as applicable;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font></font></td>
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<td style="width: 5.61455%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.3</font></td>
<td style="width: 88.9343%; vertical-align: top;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">by the delivery by Shell to&nbsp;Cosan&nbsp;of an Exercise Notice at any time during the Shell Event Triggered Call Option Exercise Period (</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">if applicable, as extended in accordance&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">with Clause 17.4</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">).</font></font></td>
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<p style="margin: 0pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font: 7.0pt 'Times New Roman';">&nbsp; &nbsp;&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Change</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">granted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercised</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan only:</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

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<td style="width: 5.36927%; vertical-align: top; padding: 12px 0px;" valign="top"><br></td>
<td style="width: 5.28749%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.1</font></td>
<td style="width: 89.3431%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">at any time during the period starting on (and including) the date on which the Shell Change of Control Event occurs, to (and including) the date falling 90 days thereafter (the "</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan<font>&nbsp;</font>Change of Control Option Exercise</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.35pt;"><font>&nbsp;</font></font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">");</font></td>
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<td style="width: 5.36927%; vertical-align: top; padding: 12px 0px;" valign="top"><br></td>
<td style="width: 5.28749%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.2</font></td>
<td style="width: 89.3431%; vertical-align: top; padding: 12px 0px;" valign="top"><font 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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">in respect of all (but not</font><font 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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;"><font>&nbsp;</font>less than all) of the Shell Total Interest;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"><font>&nbsp;</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: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">and</font></td>
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<td style="width: 5.36927%; vertical-align: top;" valign="top"><br></td>
<td style="width: 5.28749%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.3</font></td>
<td style="width: 89.3431%; vertical-align: top;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">by the delivery by<font>&nbsp;</font>Cosan<font>&nbsp;</font>to Shell of an Exercise Notice at any time during the<font>&nbsp;</font>Cosan<font>&nbsp;</font>Change of Control Option Exercise Period (if applicable, as extended in accordance with Clause<font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">17.4</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">).</font></td>
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</table>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt 9.6pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Exercising Shareholder Change of Control Option granted in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.4 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may be exercised by the Exercising Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">

<tr>
<td style="width: 5.28751%; vertical-align: top; padding: 12px 0px;" valign="top"><br></td>
<td style="width: 5.61455%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.1</font></td>
<td style="width: 89.0978%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">at any time during the period starting on (and including) the date on which the N</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">ew Shareholder Change of Control Event occurs, to (and including) the date falling 90 days thereafter (the "</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Exercising Shareholder Change of Control Option Exercise</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"><font>&nbsp;</font></font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Period</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">");</font></td>
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<td style="width: 5.28751%; vertical-align: top; padding: 12px 0px;" valign="top"><br></td>
<td style="width: 5.61455%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.2</font></td>
<td style="width: 89.0978%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">in respect of all (but not less than all) of the New Shareholder Total Interest;</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;"><font>&nbsp;</font>and</font></td>
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<td style="width: 5.28751%; vertical-align: top;" valign="top"><br></td>
<td style="width: 5.61455%; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">17.1.3</font></td>
<td style="width: 89.0978%; vertical-align: top;" valign="top"><font style="text-align: justify; text-indent: -36pt; font-size: 10pt; font-family: 'Times New Roman'; letter-spacing: -0.1pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">by the delivery by the Exercising Shareholder to the New Shareholder of an Exercise Notice at any time during the Exercising Shareholder Change</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"><font>&nbsp;</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: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt;">of</font></font><font style="text-align: justify; text-indent: -36pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;</font><br></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>67</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: 4.5pt 0pt 0pt 82pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control Option Exercise Period (if applicable, as extended in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan undertakes to notify Shell in writing of any Call Option Event relating to Cosan as soon as reasonably practical and in any e</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">vent by no later than the date 30 days after the occurrence thereof, or if later, Cosan's Actual Awareness of such occurrence, </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Call Option Exercise Period shall be extended by a period equal to the number of days between the date on which</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Call Option Event occurred and the earlier</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entitled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option:</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i) was notified of such event by Cosan or (ii) became aware of such event.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notwithstanding any other provision of this Agreeme</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nt, if Cosan fails to notify Shell of a Call Option Event relating to Cosan in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.4 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within the 30 day period specified in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17.4 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above then Cosan will not be entitl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ed to remedy such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">permitted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clauses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">13.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 14.8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notwithstanding any remedy period that may otherwise have still been available to it and the Call Option to which such Call Option Event relates shall become immediately exercisable notwithstanding any such remedy</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The price to be paid in respect o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">f a Call Option shall be the Downstream Co Value to be calculated in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If a Shareholder exercises a Call Option, the relevant Shareholder shall pay the Option Price:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">17.7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in full on the Option Completion Date;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">17.7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">specifies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">50</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">per cent. on the Option Completion Date, and the remaining 50 per cent in equal quarterly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instalments,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">commencing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period of 33 months from such applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">17.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion of a Call Option shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">occur:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">17.8.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the later</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the date which is 15 Business Days after receipt by the relevant Shareholder of the applicable Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ice;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable Option Price is finally determined;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">exercising</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">elects,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option Completion is subject to the approval of any applicable Governmental Authority, 20 Business Days after all necessary approvals have been received,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">requirement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obtain</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">approval</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subject</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the Parties' obligation to use their r</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">espective reasonable endeavours to consummate the transaction as promptly as reasonably practicable;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">17.8.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>68</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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<h1 style="margin: 4.5pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B18_RNUYB4BTVK00000000000000000000" class="customBookmark">SECTION</a> SEVEN: OPTION COMPLETION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">18.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B181818_KGOPILR4J400000000000000000000" class="customBookmark">DETERMINATION</a> OF VALID</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">18.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that more than one Breach Notice is served concurrently, the Parties shall refer the issues arising from such Breach Notice to arbitration in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instruct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitral</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tribunal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determine</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">events that any Party alleges occurred and thereby triggered the relevant Shell Fundamental Breach Option or Cosan Fundamental Breach Option, occurred first and only the Breach Notice relating to such event shall be valid.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">18.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">more</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">one</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(other than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which either Party shall be free to serve at any time regardless of the prior service of an Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Fundamental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Breach</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Exercise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">served</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">first</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance with the terms of this Agreement shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">valid.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 11.3pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">19.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B191919_86VHPOTK9S00000000000000000000" class="customBookmark">INTERACTION</a> BETWEEN COSAN S.A. AND COSAN INVESTIMENTOS IN RELATIO</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">N TO THE EXERCISE OF</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTIONS</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Where Cosan is entitled to exercise the Cosan Change of Control Option or Cosan Fundamental Breach Option, such Cosan Change of Control Option or Cosan Fundamental Breach Option shall be exercisable by either Cosan S.A. or Cos</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an Investimentos (however, for the avoidance of doubt, not both Cosan S.A. and Cosan Investimentos).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">20.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B202020_HNIJIN0A4W00000000000000000000" class="customBookmark">VALUATION</a> AND DOWNSTREAM CO</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">VALUE</font></h1>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Unless agreed by the Parties, the Downstream Co Value shall be calculated as of the applicable Downstream Co Value Date in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, and the process contemplated by this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be required to commence on each of the Downstream Co Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dates.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">determined</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provision of this Agreement, the provisions of this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">apply.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">select</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Bank</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">")</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify Shell of such selection within 15 days of the date of the applicable Downstream Co Value Date. Shell shall select a Qualifying Investment Bank (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shell Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") and shall notify Cosan of such selection within 15 days of the applicable Downstream </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In the event that:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">initial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period), Cosan or Shell fails to notify the other of its respective sel</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ection pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.3,</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> then the Qualifying Investment Bank selected by whichever of Cosan and Shell did notify the other of its selection;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 15 days of the date of the Exercise Notice (or within any period of time by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">extend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">initial</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">15</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period), Cosan and Shell have not selected two separate Qualifying Investment Banks (or if either or each of C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">osan and Shell fails to be reasonably satisfied that appropriate information barriers will be erected in the event that they have selected the same Qualifying Investment Bank), then the Independent Valuer (to be appointed in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">),</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Sole Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">" and, for the avoidance of doubt, there shall be no Cosan Valuer and no Shell Valuer,&nbsp;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">As required pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.4 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">1.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, Cosan and Shell shall, within 30 days of (a) the Parties failing to select two separate Qualifying Investment Banks pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">receiving</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.11.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">upon a Qualifying Accounting Firm (other than the auditors of any Party) to act as the Independent Valuer. Where Cosan and Shell fail to reach an agreement within such 30 day</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Accounting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Firm</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">audit</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relationship</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">wit</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">h</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan, Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">their</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliates</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">firm</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">least</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">material relationship with each such Party, such materiality to be determined by reference to revenues received from Cosan, Shell and/or their Affiliates in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the preceding twelve month period), shall be selected by the Independent Selector and appointed as the Independent Valuer. The Independent Valuer's decision shall be final and binding on the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whose</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fees,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">costs</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expenses</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">jointly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">liable in equal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">proportions.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall be liable for the fees, costs and expenses of any Cosan Valuer and Shell shall be liable for the fees, costs and expenses of any Shell Valuer. Cosan and Shell shall be jointly liable for equal prop</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ortions of the fees, costs and expenses of any Sole Valuer selected as a result of the circumstances contemplated in Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.4.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 20.4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.25pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Within 5 Business Days of the determination of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the identity of the Cosan Valuer and the Shell Valuer or of the Sole Valuer (as the case may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be):</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.7.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall instruct the Cosan Valuer and Shell shall instruct the Shell Valuer to each;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.7.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if a Sole Valuer is required pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, Cosan and Shell shall together instruct the Sole Valuer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to,</font></p>
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<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">determine, in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Downstream Valuation Range.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">[Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used]</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the Downstream Co Value is required to be determined pursuant to any provision of this Agreement, the Downstream Co shall promptly provide the Valuers with such access, information and materials which the Valuers reasonably consider necessary or desirable</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> for the carrying out of their respective valuations pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Valuers shall enter into a confidentiality agreement with the Downstream Co in a form to be agreed between Shell and Cosan (acti</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ng</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonably).</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 10.2pt 0pt 46pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.10</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any Cosan Valuer, Shell Valuer and/or Sole Valuer instructed in accordance with this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shall be instructed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">conduct due diligence in respect of the Joint Venture from information and materials provided by the management of the Downstream Co pursuant to Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">base</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">valuations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">benchmarks</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">methodologies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">de</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ems</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant and which may include: (i) a discounted cash flow analysis of the Downstream Co (including its Subsidiaries) discounted at a weighted average cost of capital (as all such terms are understood by the Person making the valuations at the time of </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">making them), applicable to the Downstream Co (including its Subsidiaries), or similar valuation methodologies customary at such time; (ii) relevant comparable multiples for the Downstream Co (including its Subsidiaries),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arrive</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">enterprise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">value</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">f</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(including its Subsidiaries) and/or (iii) for valuing the ordinary shares and/or the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">preferred shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">market</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">price(s)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the preferred shares in the capital of the Downstream Co, provided that an appropriate premium for the consolidation of control within the same control group shall be applied if such prices are considered in the valuation of the ordinary shares in the capi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tal of the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">assume, for all purposes when determining a Valuation Range, that there is no positive or negative value attributable to any of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the illiquidity of the Shares of the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">size</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties'</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ownership</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream Co;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the existence of one or more large or controlling shareholders;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">(d)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the terms and conditions of the documentation governing the Downstream Co including this Agreement, the Framework Agreement and the Sha</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reholders'</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">assume that the Downstream Co and its Subsidiaries operate on an arm's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">length basis in relation to each other, and that no Party shall seek to argue to the contrary;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where the Parties have agreed to declare and/or pay a dividend, make appropriate adjustments so as not to include for the purposes of the valuation any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">distributable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reserves</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any dividend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">distributi</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">declared</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">but</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">paid</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">made</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the valuation and shall consider the impact and make appropriate adjustments in respect to the likely timing of the Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">make appropriate adjustments to the enterprise value as determine</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">d in order to arrive to an equity valuation range for the Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.7</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">[Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used];</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.8</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Supply</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">between</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Sugar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">&amp; Ethanol Co is no longer in force, assume that the Ethanol Supply Agreement is in force with the same terms and conditions as the latest version previously entered into by the parties, for a term of one year. For clarification, the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Valuers shall deem the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">price applicable to the supply of Ethanol for the additional term of one year to be the to lower of: (i) the lowest of the average price of the previous 12 months of supply; or (ii) the price resulting from the application</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of the Ethanol Supply Agreement's</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> most favored nation provision, if it has one, and if not, as such provisions are understood in the market at the time;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.10.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify each of Cosan and Shell in writing of its Downstream Valuation Range within 40 Business Days of being</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instructed.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.11</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan and</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Shell shall calculate the Downstream Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Value:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.11.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within 10 Business Days of receiving notice of each of the Valuation Ranges; or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">20.11.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where an Independent Valuer has been appointed, within 10 Business Days of receiving notice of such Independent Valuer's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">valua</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">tion.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">20.12</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each of the Valuation Ranges shall be determined in US$.</font></p>
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<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">21.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B212112_QKLQSJL31S00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">P</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">AYMENTS</font></a></h1>
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<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">21.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">All payments due and payable from a Payor to a Payee shall be made in cleared funds, in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">US$,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">account</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">direct</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">five</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days' notice (or such shorter period as the Payor may agree) in writing to the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payor.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">21.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">instalments</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with the terms of this Agreement governing that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the first instalment shall be</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> due and payable on the applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">subsequent instalments shall be due and payable on the date three calendar months</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">until</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payment of the applicable Option Price has been made in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">full;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.2.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest shall accrue on any unpaid amounts at SOFR until the date payment of the applicable Option Price has been made in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">full;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.2.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notwithstanding Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.2.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.2.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the Payor may prepay the Payee in full</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Business</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Days'</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shorter</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period as the Payee may agree) in respect of any unpaid amounts (and any Accrued Interest)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prepayment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">discharge in full the </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payor's</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations to the Payee in respect of payment of the applicable Option Price;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 7.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.2.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Payor shall, on the applicable Option Completion Date, enter into a share pledge agreement substantially in, and no less beneficial to the Payee than, the form</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">8</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pledge</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee, effective</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereof,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transferred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font></p>
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<p style="margin: 4.5pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable Option Completion Date, as security for the obligation of the Payor to pay the Payee the full amount of the applicable Option Price on the terms of this Agreement.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">21.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In respect of any Deferred Consideration payable in instalments in relation to t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he exercise of the Pre-emption Right the Continuing Shareholder shall, on the applicable Option Completion Date, enter into a share pledge agreement substantially in, and no less beneficial to the Selling Party than, the form set out in </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 8, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant to which the Continuing Shareholder shall pledge to the Selling Party, effective on the date thereof, all the Shares transferred to the Continuing Shareholder on the applicable Option Completion Date, as security for the obl</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">igation of the Continuing Shareholder to pay the Selling Party the full amount of the applicable Option Price on the terms of the sale and purchase agreement entered into between the Continuing Shareholder and the Selling Party pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">22.4.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">21.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If the Payor fails to make any payment it owes to the Payee in accordance with the terms of this Agreement (including, in relation to completion of the Pre-emption Right only, failing to comply with the provisions of Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.16</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">):</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on the applicable Option Completion Date, then the Payee shall be entitled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Event</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Triggered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Options,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Change of Control Option, the Exercising Shareholder Change of Control O</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ption, the Disqualification Call Option, the Pre-emption Right, the ROFR Right, the Second ROFR Right, the Cosan Fundamental Breach Option and the Shell Fundamental Breach Option, retain the legal and beneficial title to the relevant Shares due to be trans</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ferred to the Payor on the Option Completion Date as if the Payor had failed to submit an Exercise Notice (or, in the case of the: (i) ROFR Right, a ROFR Offer; or (ii) Second ROFR Right, a Second ROFR</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer);</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">retain any sums received in respect of any pa</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">yment due from the Payor to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Liquid</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Securities received by it;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(c)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the case of the Disqualification Put Option or the ROFR Right, sell the relevant Shares due to be transferred to the Payor on the Option Completion Date to any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">and the Payor shall have no claim for damages or compensation (or otherwise) against t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Payee in respect of such Shares; and/or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">21.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on or after any date on which an instalment in respect of the applicable Option Price is due in accordance with the terms of this Agreement (including for the purposes of paying any Deferred Consideration in cash</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> on the same terms and on the same date(s) as such Deferred Consideration would have been payable to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offeror</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Offer), then:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest shall accrue on any unpaid amounts at the Default Interest R</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ate and compounded monthly (the Parties acknowledge and agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>73</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>
<p><br></p>
<p style="margin: 4.5pt 10pt 0pt 118.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">SELIC,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">standard</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Brazil,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">benchmark for interest in relation to matters connected with a business, such as the Joint Venture, whose primary operations are in Brazil);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 118.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.25pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expiry</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grace</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any, the Payee shall be entitled to enfo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rce the pledge granted pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.2.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> in accordance with the terms thereof and apply </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">proceeds of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">enforcement:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in satisfaction of any amount due from the Payor to the Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in respect of payment of any part of the applicable Option </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">Price</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 2.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which remains outstanding (whether or not due and payable at such date);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 154.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">towards</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">payment</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(1)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">default</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accrued</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.4.2(b)(i),</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and (2) the fees, costs and </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;">expenses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">incurred by the Payee in connection with the enforcement of such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">security.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">21.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Notwithstanding anything in the Transaction Documents to the contrary, a Payor shall not be entitled to set-off all or part of an</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Option payment (or any Accrued Interest thereon) against an amount owing from a Payee (or any of its Affiliates) to such Payor (or any of its Affiliates), other than in connection with any Determined Indemnity Amount (as defined in the Framework Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) that is at that time (whether or not this is during a grace period in respect of such payment obligation) owing from such Payee (or any of its Affiliates) to such Payor (or any of its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliates).&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">21.6</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Amounts owed by any Party to this Agreement jointly </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.1pt;">to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">osan S.A. and Cosan Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">paid</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">including</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">those</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amounts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">owed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Investimentos, in which case Cosan S.A. shall be responsible for reimbursing Cosan Investimentos. For the avoidance of doubt, the payment by the relev</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ant Party to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A. referred to in this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21.6 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall be deemed to satisfy the obligation of the relevant Party to this Agreement to pay such amount to Cosan Investimentos.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">22.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B2222221_Y1QXTJILGG00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">OPTION</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COMPLETION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">22.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Option Completion shall take place by 11:00 a.m. on the date determined in accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">governing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Downstream Co's registered office, or at such other place as may be agreed between the Pay</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or and the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">22.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">At</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pay</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Payee</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Price or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">governing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option, the first instalment of payment of the applicable Option Price, and the Payee shall deliver (or cause to be delivered) to the Payor a receipt in respect of the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">same.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">22.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">At each Option Completion the Payor and the Payee shall complete all update regis</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">trations and execute the share transfer forms (</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">formul&#225;rios de transfer&#234;ncia de a&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">), in respect of the transfer of Shares to be transferred to the Payor on the date of completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relevant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transfer,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deliver</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">them</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">custodian</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">responsib</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">le for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co&#8217;s</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Register,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">informalizing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shares</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>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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<p style="margin: 4.5pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">do</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">things</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">within</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">power</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">necessary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">effect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and the registration of the transfer, including instructing the custodian agent to update the records in the Register of the Downstream Co to reflect the transfer of Shares accordingly.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">22.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">In relation to the completion of the Pre-emption Right only (in accor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dance with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -2.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">):</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">22.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Continuing Shareholder shall comply with the requirements set out in Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> of this Agreement;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">22.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Continuing Shareholder and the Selling Party shall execute a </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">form of sale and purchase agreement in substantially the same form as delivered to the Continuing Shareholder with the Third Party Offer Notice in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7.3.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">comply</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sale</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purchase agreement, including executing all other documents (unless any such obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">waived</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Continuing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Selling Party).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B238_PFEF28VY6800000000000000000000" class="customBookmark">SECTION</a> EIGHT: REPRESENTATIONS AND WARRANTIES</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">23.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B23232323_6S0JRYZFWW00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHELL</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WARRANTIES</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">23.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">S</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hell warrants to Cosan that each Shell Warranty is true, accurate and not misleading at the date of this Agreement. Immediately before the applicable Option Completion Date relating to the Cosan Fundamental Breach Option, Cosan Change of Control Option, Pr</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e-emption Right (in respect of its Shareholder Total Interest), ROFR Right, or Second ROFR Right, Shell is deemed to warrant to Cosan that each Shell Warranty is true, accurate and not misleading by reference to the facts and circumstances as at the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applic</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">able</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purpose</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">there</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">express or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">implied</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reference</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Warranty</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement",</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reference is to be construed as a reference to, in relation to the applicable Option Completion Date.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">23.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">acknowledges</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">entering</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reliance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell Warranty which has also been given as a representation and with t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he intention of inducing Cosan to enter into this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">23.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">promptly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">becomes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">aware</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fact</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">circumstance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which constitutes or which would reasonably be expected to constitute a breach (whether repudiatory in nature or not) of Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">23.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or which would or might cause a Shell Warranty to be untrue, inaccurate or misleading if given</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> in respect of the facts or circumstances as at any Option Completion Date.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">23.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Shell Warranty is to be construed independently and (except where this Agreement provides otherwise) is not limited by a provision of this Agreement or another Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Warra</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nty.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">24.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B242424_6BNV41ZSZ400000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">COSAN</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WARRANTIES</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">24.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan warrants to Shell that each Cosan Warranty is true, accurate and not misleading at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Immediately</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">before</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relating</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="margin: 4.5pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the Shell Fundamental Breach Option, Shell Event Triggered Call Option, Pre- emption Right (in respect of its Shareholder Total Interest), ROFR Right, or Second ROFR Right, Disqualification Call Option or Disqualification Put Option, Cosan is deemed to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">warrant to Shell that each Cosan Warranty is true, accurate and not misleading by reference to the facts and circumstances as at the applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">purpose</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">only,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">where</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">there</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">express</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">implied</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reference in a Cosan Warranty to the "date of this Agreement", that reference is to be construed as a reference to the applicable Option Completion</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">24.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan acknowledges that Shell is entering into this Agreement in reliance on each Cosan Warranty whic</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">h has also been given as a representation and with the intention of inducing Shell to enter into this Agreement.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">24.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notify</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">promptly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">becomes</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">aware</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fact</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">circumstance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which constitutes or which would reasonably be expected to c</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">onstitute a breach (whether repudiatory in nature or not) of Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">24.1 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or which would or might cause a Cosan Warranty to be untrue, inaccurate or misleading if given in respect of the facts or circumstances as at that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">24.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Cosan Warranty is to be construed independently and (except where this Agreement provides otherwise) is not limited by a provision of this Agreement or another Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Warranty.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">25.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B252525_74KKVH4SXC00000000000000000000" class="customBookmark">THIRD</a> PARTY</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WARRANTIES</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">25.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Shareholder shall procure that, as a term and condition of any sale of its Shareholder Total Interest to a Third Party Offeror, such Third Party Offeror will undertake</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">warrant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Third</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Warranty is tr</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ue, accurate and not misleading immediately before the applicable Option Completion Date, by reference to the facts and circumstances as at that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.15pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">25.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Third Party Warranty is to be construed independently and (except where this Agreement provides oth</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">erwise) is not limited by a provision of this Agreement or another Third Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Warranty.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B269_ZDZTM4A79S00000000000000000000" class="customBookmark">SECTION</a> NINE: COVENANTS OF THE PARTIES</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">26.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B262626_86Y9BUQ2Y800000000000000000000" class="customBookmark">COMPLIANCE</a> WITH</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">AGREEMENT</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">26.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each of the Parties (other than the Downstream Co) undertakes to the other Parties (other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">take</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">practicable</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">steps</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">including,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">without limitation, the exercise of votes it directly or indirectly controls at meetings of shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Supervisory</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Board</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">equivalent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">body)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any JV Entity or any Affiliate of any JV Entity to ensure (insofar as it is able to do so) that the terms of this Agreement are complied with, including, for the avoidance of doubt, that no terms of this Agreement shall be breached, and to procure (insofar</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> as it is able to do so) that the Supervisory Board (or equivalent body) of any JV Entity or any Affiliate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">complies</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">do</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">all</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other acts and things as may be necessary or desirable to implement this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>76</font></font></td>
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<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">26.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provision</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Byelaws</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">conflicts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provision of this Agreement, this Agreement shall prevail and the Parties shall whenever necessary exercise all voting and other rights and powers available to them to procure the amendment, waiver or suspension of the relevant provision of the Byelaws to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the extent necessary to permit each relevant JV Entity and its affairs to be administered as provided in this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">27.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B272727_QM41SPPYOW00000000000000000000" class="customBookmark">TRANSFER</a> OF</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">SHARES</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">27.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The Downstream Co covenants to each of the other Parties that it shall not assist with the registration of, or all</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ow the custody agent responsible for the Register of the Downstream Co to register, any Transfer of its Shares to any Person in contravention of the terms of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">27.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">No Bound Shares shall be Transferred to any Person who is not already a Party to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this Agreement (including, for the avoidance of doubt, as a result of any Transfer in accordance with Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of this Agreement) until such Person has become (i) a Party to this Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and a party to the Framework Agreement by executing and delivering to the other Parties a Deed of Adherence, (ii) a party to the Shareholders' Agreement by executing and delivering to the other parties to the Shareholders' Agreement a Joinder Agreement (a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">s defined in the Shareholders' Agreement), and (iii) a party to the Operating and Coordination Agreement by executing and delivering to the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Operating</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Coordination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Joinder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as defined in the Operating and Coordination Agreement), (with this Agreement, the Framework Agreement, the Operating and Coordination Agreement and the Shareholders Agreement being collectively the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder Adherence Agreements</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">").</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.6pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">27.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">I</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">n the event Bound Shares are Transferred by a Shareholder (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") to a New Shareholder in accordance with the terms of this Agreement, the terms of this Agreement shall, subject to Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">32.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, cease to apply to t</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">he Transferor and the New Shareholder shall assume all rights and obligations of such Transferor as if the New Shareholder had executed each of the Shareholder Adherence</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreements.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">27.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any Shareholder(s) to which Bound Shares held by Shell have been Transfer</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">red in accordance with the terms of this Agreement (including, for the avoidance of doubt as a result of (i) a Transfer to a New Shareholder in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or (ii) an intra-group Transfer in accordance with Claus</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">e </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) shall assume the rights and obligations of Shell under the Shareholder Adherence Agreements, with any Shareholder to which Bound Shares are Transferred intra-group in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">assuming</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">jointly with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transferor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance with the Deed of Adherence as required by Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above and for the purposes of interpretation of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10.1pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.4.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell shall be thereafter interpreted as meaning the Shareholder that directly holds such Bound Shares from time to time (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.4.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> New Shell Shareholder grants to Cosan or the New Cosan Shareholder (as applicable) every Option which Shell has granted to Cosan, (except that if the New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Royal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 1.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>77</font></font></td>
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<p style="margin: 4.5pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">the Trans</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fer the New Shell Shareholder shall not grant to Cosan or the New Cosan Shareholder (as applicable) the Cosan Change of Control Option), and any reference to the Shell Total Interest for the purposes of completing such Options shall be a reference to the S</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hares comprising the Shell Total Interest which are now held by the New Shell Shareholder;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.4.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">beneficiary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">every</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan has granted to Shell, except that if the New Shell Shareholder is not Controlled by Royal Dutch Shell at the time of the Transfer the New Shell Shareholder shall not be the beneficiary of the Shell Involuntary Delisting Call Option;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.4.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if the New Shell Shareholder is not Controlled by Royal Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell:</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 78px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top; padding: 10px 0px; width: 9%;" valign="top"><br></td>
<td style="height: 10px; vertical-align: top; padding: 10px 0px; width: 3%;" valign="top"><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: 400; letter-spacing: -1.66667px; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></td>
<td style="height: 10px; vertical-align: top; padding: 10px 0px; width: 88%;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">any references to Royal Dutch Shell or Shell UK Co in this Agreement shall be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">disregarded;</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><br></td>
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.25pt;">(b)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;</font></font></td>
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the New Shell Shareholder grants to&nbsp;Cosan&nbsp;or the New&nbsp;Cosan&nbsp;Shareholder (as applicable) the&nbsp;Exe</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">rcising&nbsp;Shareholder Change of Control Option;</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><br></td>
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)&nbsp;</font></td>
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clauses&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">9.1.1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">9.1.2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">13.1.1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">13.2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">17.2&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">29.2&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall cease to apply&nbsp; and be of no further force or effect and all&nbsp;capitalised&nbsp;terms which are defined</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clause</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">referred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clause</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">cease</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">apply</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and be of no further force or effect in this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement;</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><br></td>
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">(d)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></font></td>
<td style="height: 17px; vertical-align: top; padding: 0px 0px 10px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clauses</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">16.2,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">16.3</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">16.4</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Framework</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">cease</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to apply and be of no further force and effect in relation to the obligations of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;Shell UK Co&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">provided that&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the New Shell Shareholder and the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">New&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Shareholder Controller have assumed all such liabilities and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -1.9pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">obligations by accession to the Framework Agreement;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top;" valign="top"><br></td>
<td style="height: 17px; vertical-align: top;" valign="top"><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: 400; letter-spacing: -0.333333px; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(e)</font></td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">notwithstanding anything to the contrary set out in this Agreement, any&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Unbound Shares acquired by the New Shell Shareholder shall cease to be Unbound Shares for the purposes of this Agreement and shall thereafter be treated as Bound</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Shares.</font></font></td>
</tr>

</table>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">27.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any Shareholder(s) to which Bound Shares held by Cosan have been Transferred in accor</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">dance with the terms of this Agreement (including, for the avoidance of doubt as a result of (i) a Transfer to a New Shareholder in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or (ii) an intra-group Transfer in accordance with Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">) shall assume the rights and obligations of Cosan under the Shareholder Adherence Agreements, with any Shareholder to which Bound Shares are Transferred intra-group in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9.1.4</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">assuming</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">jointly with the Cosan Transferor or New Shareholder Transferor (as applicable), in accordance with the Deed of Adherence as required by Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">27.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">above and for the purposes of interpretation of this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement:</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.5.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan shall thereafter be interpreted as meaning the Shareholder that directly holds such Bound Shares from time to time (the "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">New Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">");</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
</div>
<table style="font-family: 'times new roman'; font-size: 10pt; width: 100%;">

<tr>
<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>78</font></font></td>
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<div>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
<hr class="horizontalLineRemoved" style="border-bottom-color: #000000; border-top-color: #000000; color: #000000; background-color: #000000;"></hr>
<div class="pageBreak" style="page-break-before: always; font-size: 10pt; text-align: left;"><a href="#TOC">Table of Contents</a></div>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="margin: 4.5pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.5.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the New Cosan Shareholder grants to Shell or the New Shell Shareholder (as applicable) every Option which Cosan has granted to Shell, (except that if the New Cosan Shareholder is not Controlled by ROSM or following the Post ROSM Date, ROSM and/or a ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Qualifying Replacement, the New Cosan Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">grant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable) the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Change</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Control</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Involuntary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Delisting</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Call</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option and the Disqualification Call Option), and any reference to the Cosan Total Interest for the purposes of completing such Options shall be a reference to the Shares comprising the Cosan Total Interest which are held by the New Cosan Shareholder;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.5.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">beneficiary</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">every</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Option</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell has granted to Cosan, except that if the New Cosan Shareholder is not Controlled by ROSM or following the Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement, the New Cosan S</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">hareholder shall not be the beneficiary of the Disqualification Put Option;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.7pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">27.5.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">if</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">New</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Controlled</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Post ROSM Date, ROSM and/or a ROSM Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Replacement:</font></p>
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<td style="height: 20px; padding: 12px 0px;"><br></td>
<td style="height: 20px; padding: 12px 0px; vertical-align: top;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">(a)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></font></td>
<td style="height: 20px; padding: 12px 0px;" colspan="2"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">any references</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to:</font></font><br></td>
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<tr style="height: 10px;">
<td style="height: 10px; width: 8%; padding: 0px 0px 12px;"><br></td>
<td style="height: 10px; width: 5%; padding: 0px 0px 12px; vertical-align: top;" valign="top"><br></td>
<td style="height: 10px; width: 5%; padding: 0px 0px 12px;"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="height: 10px; width: 82%; padding: 0px 0px 12px;"><font style="font-size: 12pt;"><font 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ROSM, a ROSM Qualifying Replacement or Aguassanta;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font></font></td>
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<td style="height: 10px; padding: 0px 0px 12px;"><br></td>
<td style="height: 10px; padding: 0px 0px 12px; vertical-align: top;" valign="top"><br></td>
<td style="height: 10px; padding: 0px 0px 12px;"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="height: 10px; padding: 0px 0px 12px;"><font style="font-size: 12pt;"><font 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Cosan&nbsp;S.A. or&nbsp;Cosan&nbsp;Investimentos&nbsp;as independent entities (including for the purpose of Clauses&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">19</font><font 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">21.6</font><font 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">),</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; padding: 0px 0px 12px;"><br></td>
<td style="height: 17px; padding: 0px 0px 12px; vertical-align: top;" valign="top"><br></td>
<td style="height: 17px; padding: 0px 0px 12px;" colspan="2"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">in this Agreement shall be disregarded;</font><br></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; padding: 0px 0px 12px;"><br></td>
<td style="height: 17px; padding: 0px 0px 12px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</font></td>
<td style="height: 17px; padding: 0px 0px 12px;" colspan="2"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the New&nbsp;</font>Cosan<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Shareholder grants to Shell or the New Shell Shareholder (as applicable) the Exercising Shareholder Change of Control Option;</font></font><br></td>
</tr>
<tr style="height: 41px;">
<td style="height: 41px; padding: 0px 0px 12px;"><br></td>
<td style="height: 41px; padding: 0px 0px 12px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(c)</font></td>
<td style="height: 41px; padding: 0px 0px 12px;" colspan="2"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clauses&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">4,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">5,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">9.1.3,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">13.1.2</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">13.3,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">16,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">29.2&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">29.3&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall cease to apply and be of no further force or effect and all&nbsp;capitalised&nbsp;terms which are defined</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clause</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">8</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">referred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clause</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">)</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">cease</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">apply</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and be of no further force or effect in this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement;</font></font><br></td>
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<tr style="height: 62px;">
<td style="height: 62px; padding: 0px 0px 12px;"><br></td>
<td style="height: 62px; padding: 0px 0px 12px; vertical-align: top;" valign="top"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(d)</font></td>
<td style="height: 62px; padding: 0px 0px 12px;" colspan="2"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">clauses 16.1, 16.3 and 16.4 of the Framework Agreement shall cease to apply and be of no further force and effect in relation to the obligations of&nbsp;Cosan&nbsp;Limited (or its successor&nbsp;Cosan&nbsp;S.A.)&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">provide</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">d that&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the New&nbsp;Cosan&nbsp;Shareholder and the New Shareholder Controller have assumed all such liabilities and obligations by accession to the Framework Agreement;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font></font><br></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px;"><br></td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(e)</font><font style="color: #000000; font: 7pt 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font></td>
<td style="height: 17px;" colspan="2"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">notwithstanding anything to the contrary set out in this Agreement, any Unbound Shares&nbsp;acqui</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">red by the New&nbsp;Cosan&nbsp;Shareholder shall cease&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">to&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">be Unbound Shares for the purposes of this Agreement and shall thereafter be treated as Bound</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Shares.</font></font><br></td>
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<p><br></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>79</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>
<h1 style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">28.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B282828_QSVQU8UHTS00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ENCUMBRANCES</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">28.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Other than arising under this Agreement, no Party shall create or permit to subsist any Encumbrance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Permitted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Encumbrance)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">over</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">interest</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream Co (or any part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereof).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">28.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">[Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used]</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">28.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">If any Encumbrance (other than a Permitted Encumbrance) over any Party's interest in Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">part</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">thereof)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arises</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">virtue</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">operation</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Law or otherwise for the benefit of any Governmental Authority (including in connection w</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ith the collection of Tax), such Party shall use reasonable efforts to offer assets other than those constituting its interest in any of Cosan or the Downstream Co (or any part thereof) as substitute security to such body, agency or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">department.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0.05pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">29.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B292929_U03BYWK47400000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">REORGANIZA</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">TIONS</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">29.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">No Reorganization with respect to the Joint Venture shall take place unless agreed between the Shareholders. In the event that any such Reorganization is proposed, the Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">amend</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Reorganization to reflect the changed structure of the Joint Venture contemplated by the proposed Reorganization in a manner agreed between the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shareholders.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 6.65pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">29.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">long</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Royal</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Dutch</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(ii)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Post</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM Date, ROS</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">M and/or a ROSM Qualifying Replacement have a Controlling Interest in the Downstream Co, no Reorganization with respect to Shell shall take place if such Reorganization results in Royal Dutch Shell ceasing to have a Controlling Interest in the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">C</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">o,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">connection</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">RDS</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Global</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Disposal.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">29.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">For</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">long</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Post</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Date,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ROSM Qualifying Replacement, has a Controlling Interest in the Downstream Co, no Reorganization</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">respect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">take</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">place</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unless</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">requirements are</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">satisfied:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">29.3.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">at any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">time:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(a)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">prior to the Post ROSM Date, ROSM;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 118.05pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">(b)</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">after the Post ROSM Date, ROSM and/or a ROSM Qualifying Replacement,</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 100.95pt 0pt 81.25pt; text-align: left;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">maintains a Controlling Interest in the Downstream Co; and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">29.3.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">following such Reorganization, there is at least one Controlling</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">30.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B303030_WONC8R4VEO00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">CON</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">FIDENTIALITY</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">30.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Party agrees that it shall, and shall cause any Person to whom Confidential Information is disclosed pursuant to this Agreement to, hold strictly confidential a</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ll Confidential Information and treat all Confidential Information with the same degree of care and confidentiality that it affords its own trade secrets and proprietary information.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agrees</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">use</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Confidential</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Information</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">received</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="margin: 4.5pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity only in connection with its investment in the Joint Venture and the transactions contemplated by the Transaction Documents, and for no other purpose, except as otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expressly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">permitted</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Transaction</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Documents</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agreed</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">between</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Downstream</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Co.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agrees</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">responsible</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any breach of the provisions of this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">30 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by any of its Representatives to whom it discloses Confidential</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Information.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">30.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">No Party shall disclose any Confidential Information to any Person,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">except:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.15pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">30.2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to its own Representatives in the normal course of the performance of their duties;</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">30.2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the extent required by applicable Law (including complying with any oral</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or written questio</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ns, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process to which a Party is subject; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, unless otherwise prohibited by Law, such Party shall give the relevant JV Entity prompt notice o</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">f such request(s), to the extent practicable, so that such JV Entity may seek an appropriate protective order or similar</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">relief</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">cooperate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">efforts</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Entity, and shall in any event make only the minimum disclosure requ</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ired by such Law));</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">30.2.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20.9</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">contemplated</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">30.2.4</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to one or more bona fide potential purchasers (or their actual or potential providers of finance) of Shares or any securities in a Party (other than the JV Entities) or any Subsidiary of a Party (other than the JV Entities), in each case </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided that </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">befo</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">re any such disclosure, the relevant Party obtains from</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such potential purchaser (or their actual or potential providers of finance) an undertaking in favour of the other Parties in terms equivalent to this</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Clause 30</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">; or</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">30.2.5</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> the extent required to comply with the rules and regulations of any Governmental</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Authority</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">whose</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">jurisdiction</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Affiliates is subject (which may include the U.S. Securities and Exchange Commission, the Brazilian </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">Comiss&#227;o de Valor</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-style: italic;">es Mobili&#225;rios</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, the UK's Financial Conduct Authority, the Netherlands' Autoriteit Financi&#235;le Markten or any stock exchange).</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 10pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B3110aaa_HXT6UOCL4000000000000000000000" class="customBookmark">SECTION</a> TEN: GENERAL</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">31.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Bsass31_623HCG3CXS00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">NOT</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">ICES</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.75pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">31.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any communication to be made under or in connection with this Agreement shall be made</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">English</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">language,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">writing</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">unless</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">stated,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">may</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">made</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by fax, email or via courier service. The address, fax number and email address (and the department or officer, if any, for whose attention the communication is to be made) of each Part</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">y for any communication or document to be made or delivered under or in connection with this Agreement is identified with its name below. Any Party may substitute</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">address,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fax</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">number,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">email</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">address</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">department</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">officer</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notifying the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parti</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">es</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">less</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">five</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">days'</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">notice.</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">communication</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">required</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font></p>
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<p style="margin: 4.5pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">received</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">deemed to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">received</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">applicable)</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provided</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">validly</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">sent</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">received</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">S.A. pursuant to this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">31.</font></p>
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<td style="width: 9.84535%; height: 20px;"><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: -0.0666667px; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</font></td>
<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Cosan / Cosan</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Investimentos</font></font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;">Cosan<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;S.A. /&nbsp;</font>Cosan<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Investimentos</font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;">Avenida<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Brigadeiro<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Faria<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Lima, 4100</font></font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">16&#186;&nbsp;</font>andar</font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;">S&#227;o<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Paulo &#8211; SP</font></font></td>
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<td style="width: 84.867%; height: 20px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP 04538-132</font></td>
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<td style="width: 84.867%; height: 20px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazil</font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Marcelo Eduardo Martins and Maria Rita de&nbsp;</font>Carvalho<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Drummond</font></font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Email:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Marcelo.Martins@cosan.com</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">MariaRita.Drummond@cosan.com</font></font></td>
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<td style="width: 9.84535%; height: 17px;"><font style="color: #000000; font-family: 'Times New Roman'; font-size: 12pt; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Copy to:</font></td>
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<td style="width: 9.84535%; height: 17px; text-align: right;"><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: -0.2px; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(a)</font></td>
<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Fr</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">eshfields&nbsp;Bruckhaus&nbsp;Deringer</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">LLP</font></font></td>
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<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">100&nbsp;</font>Bishopsgate<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font></font></td>
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<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">London</font></td>
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<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">EC2P 2SR</font></td>
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<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">United Kingdom</font></td>
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<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: David&nbsp;</font>Sonter</font></td>
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<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Email:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">David.Sonter@freshfields.com</font></font></td>
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<td style="width: 9.84535%; height: 17px; text-align: right;"><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: -0.2px; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(b)</font></td>
<td style="width: 84.867%; height: 17px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Mattos&nbsp;Filho,&nbsp;Veiga&nbsp;Filho,&nbsp;Marrey&nbsp;Jr e&nbsp;Quiroga</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Advogados</font></font></td>
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<td style="width: 84.867%; height: 20px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Al.&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Joaquim&nbsp;Eug&#234;nio&nbsp;de Lima, 447</font></font></td>
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<td style="width: 84.867%; height: 20px; padding: 0px 0px 0px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP: 01403-001 -&nbsp;Jardins,&nbsp;S&#227;o&nbsp;Paulo &#8211; SP Brazil</font></td>
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<td style="width: 84.867%; height: 20px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Marcelo&nbsp;</font>Ricupero</font></td>
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<td style="width: 84.867%; height: 20px; padding: 0px 0px 0px 30px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Ema</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">il: mricupero@mattosfilho.com.br</font></font></td>
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<td style="width: 9.84535%; height: 20px;"><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: -0.0666667px; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</font></td>
<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Ra&#237;zen</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">S.A.</font></font></td>
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<td style="width: 84.867%; height: 17px;"><font style="font-size: 12pt;">Ra&#237;zen<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;S.A.</font></font></td>
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<td style="width: 84.867%; height: 17px;"><font style="font-size: 12pt;">Avenida<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Almirante<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Barroso<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,</font></font></td>
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<td style="width: 84.867%; height: 17px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">n&#186; 81, 36&#186;&nbsp;</font>andar<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>sala<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;36A104,, CEP 20031-004&#8211; Rio de Janeiro/RJ</font></font></td>
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<td style="width: 84.867%; height: 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazil</font></td>
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<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Fax: +55 (11) 23446498</font></td>
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<td style="width: 9.84535%; height: 17px;"><br></td>
<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: General Counsel</font></td>
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<td style="width: 84.867%; height: 17px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Ema</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">il: Antonio.Martins@raizen.com</font></font></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>82</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: 9.84535%; height: 17px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.05pt;">(iii)</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;</font></font></td>
<td style="width: 84.867%; height: 17px;"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">Shell Overseas Holdings Limited / Shell Brazil Holding</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -48.0667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">B.V.</font></font></td>
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<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Shell Overseas Holdings Limited</font></td>
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<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">c/o Shell Centre</font></td>
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<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">4 York Road</font></td>
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<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">London SE1 7NA</font></td>
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<td style="width: 84.867%; height: 20px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">United Kingdom</font></td>
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<td style="width: 84.867%; height: 20px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Associate General Counsel, Downstream Portfolio</font></td>
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<td style="width: 84.867%; height: 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Fax: +44 (20) 7021 3023</font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">S</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">hell Brazil Holding B.V.</font></font></td>
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<td style="width: 84.867%; height: 20px;"><font style="font-size: 12pt;">Carel<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;van&nbsp;</font>Bylandtlaan<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;30, 2596HR 's-Gravenhage,</font></font></td>
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<td style="width: 84.867%; height: 20px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Netherlands</font></td>
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<td style="width: 84.867%; height: 20px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Associate General Counsel, Downstream Portfolio</font></td>
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<td style="width: 84.867%; height: 17px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Fax: +44 (20) 7934 7509</font></td>
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<td style="width: 9.84535%; height: 20px;"><font style="font-size: 12pt;"><font style="color: #000000; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-style: italic;">Copy to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">:</font></font></td>
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<td style="width: 9.84535%; height: 20px; text-align: right;"><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: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(A)</font></td>
<td style="width: 84.867%; height: 20px; padding: 1px 1px 1px 30px;"><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: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Clifford Chance</font></td>
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<td style="width: 84.867%; height: 20px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;">Rua<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Funchal 418 - 15&#186;&nbsp;</font>andar</font></td>
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<td style="width: 84.867%; height: 20px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">04551-060&nbsp;</font>S&#227;o<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Paulo &#8211; SP</font></font></td>
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<td style="width: 84.867%; height: 20px; padding: 1px 1px 1px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazil</font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Anthony&nbsp;</font>Oldfield<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">; John Wilkins</font></font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Email: Anthony.Oldfield@cliffordchance.com;&nbsp;</font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">John.Wilkins@cliffordchance.com</font></td>
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<td style="width: 9.84535%; height: 17px; text-align: right;"><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: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(B)</font></td>
<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;">Cescon<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>Barrieu<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>Flesch<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;&amp;&nbsp;</font>Barreto<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Advogados</font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;">Rua<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Funchal, 418, 11&#186;&nbsp;</font>andar</font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP: 04551-060&nbsp;</font>S&#227;o<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Paulo, SP</font></font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazil</font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Marcos&nbsp;</font>Flesch</font></td>
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<td style="width: 84.867%; height: 20px; padding: 1px 1px 1px 30px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Fax: +55 (11) 3089-6565</font></td>
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<td style="width: 84.867%; height: 17px; padding: 1px 1px 1px 30px;"><font style="font-size: 12pt;"><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Email:&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">marcos.flesch@cesconbarrieu.com</font><font 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.br</font></font></td>
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<p style="margin: 0pt 9.65pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">communication</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">document</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">made</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">delivered</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">one</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Person</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">another</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or in connection with this Agreement will only be effective: (i) if by way of courier service, when the courier service has recorded successful delivery at that address; (ii) if by way of fax, when received in legible form; (iii) if by way of email, at the</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> time of transmission, provided that such communication or document shall not be effective if the sender receives an automated message that the email has not been delivered to the recipient and (iv) if a particular department or officer is specified as par</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">t of its address details provided under Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> 31.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, if addressed to that department or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">officer.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">32.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Ba3232_59N9P7V8A800000000000000000000" class="customBookmark">TERM</a> AND</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">TERMINATION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">32.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">[Not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">used]</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">32.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">This</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Agreement shall terminate and be of no further force or effect with respect to any Party where such Party ceases to own any JV Securities (as defined in the Shareholder Agreement), </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">provided </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">32.2.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">32.2 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall not</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> apply to any Shareholder which ceases to hold JV Securities as a result of an intra-group Transfer in accordance with Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 82pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">32.2.2</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">30</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> shall survive </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">termination;</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 82pt; orphans: 0; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">32.2.3</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">termination</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">not</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">affect</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties'</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accrued</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">obligations</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of that date.</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>84</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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<h1 style="margin: 4.5pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">33.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;"><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B33aaaa_KHSUSGAUJK00000000000000000000" class="customBookmark">NO</a> RIGHT OF</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RESCISSION</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">right</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">terminate</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">(unless</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">expressly agreed by them), and any right of rescission is hereby waived and excluded by the Parties.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">34.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="Baass34_HTKYDKGO1S00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">GE</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">NERAL</font></a></h1>
<table style="width: 100%; margin-left: 0.1px; height: 108px; font-family: 'times new roman'; font-size: 10pt;">

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<td style="height: 10px; vertical-align: top; width: 4.10057%; text-align: center; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.1</font></td>
<td style="height: 10px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">This Agreement (a) may be executed in any number of counterparts, each of which is an original and all of which together evidence the same agreem</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ent, and (b) will not come into effect until each Party has executed at least one</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">counterpart.</font></font></td>
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<td style="height: 10px; vertical-align: top; text-align: center; width: 4.10057%; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.2</font></td>
<td style="height: 10px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">A</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">variation</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">is</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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;valid only if it is in writing and signed by or on behalf of each Party.</font></font></td>
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<td style="height: 10px; vertical-align: top; text-align: center; width: 4.10057%; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.3</font></td>
<td style="height: 10px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The failure to exercise or delay in exercising a right&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: 0.1pt;">or&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">remedy provided by this Agreement or by Law does not impair or constitute a waiver of the right or remedy or an impairment of or a waiver of other rights or remedies. No single or partial exercise o</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">f a right or remedy provided by this Agreement or by Law prevents further exercise of the right or remedy or the exercise of another right or</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">remedy.</font></font></td>
</tr>
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<td style="height: 10px; vertical-align: top; text-align: center; width: 4.10057%; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.4</font></td>
<td style="height: 10px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">A</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Person</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">who</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">is</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">not</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">a</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">has</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">no</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">right</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">under</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Contracts</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(Rights of Third Parties)&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Act 1999 to enforce any term of this Agreement, but this does not affect any right or remedy of a third party which exists or is available apart from that Act. Notwithstanding the foregoing provision, Clauses&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">4</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">5,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">33</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">34</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">,&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">35&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">37</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&nbsp;confer a benefit on ROSM and, subject to Clauses&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">34.2&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">37</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">, are intended to be enforceable by ROSM by virtue of the Contracts (Rights of Third Parties) Act of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">1999.&nbsp;</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: center; width: 4.10057%; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.5</font></td>
<td style="height: 17px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Each of the Parties agrees to perform (or procure the performance of) all such acts and things and/or to&nbsp;execu</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">te and deliver (or procure the execution and delivery of) all such documents,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">as</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">may</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">required</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">by</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Law</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">or</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">as</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">may</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">necessary</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">or</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">reasonably</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">requested by</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">any</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">other</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Parties</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">for</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">giving</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">full</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">effect</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">securing</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">each of the other Parties the full benefit of the rights, powers and remedies conferred upon them by this Agreement. Unless otherwise agreed, each Party shall be responsible for its</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">own</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">costs</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">expenses</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">incurred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">connection</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">with</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">provisions</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Clause</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">34</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">.</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: center; width: 4.10057%; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.6</font></td>
<td style="height: 17px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Without prejudice to any other rights or remedies that the other Party may have, each Party acknowledges and agrees that damages alone would not be an adequate remedy for</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">any</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">breach</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">terms</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement.</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Accordi</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">ngly,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">any</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Party</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">entitled, without proof of special damages, to the remedies of injunction, specific performance or other equitable relief for any threatened or actual breach of the terms of this Agreement.&nbsp;</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: center; width: 4.10057%; padding: 10px 1px;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.7</font></td>
<td style="height: 17px; vertical-align: top; width: 95.8994%; padding: 10px 1px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">rights</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">remedies</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">contained</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">are</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">cumulative</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(subject</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the other provisions of this Agreement) not exclusive of rights or remedies provided by Law.</font></font></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: center; width: 4.10057%;" valign="top"><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: 400; letter-spacing: -0.133333px; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">34.8</font></td>
<td style="height: 17px; vertical-align: top; width: 95.8994%;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">This</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">each</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">document</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">referred</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">it</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">constitute</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">entire</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and supersede any previous agreement between the Parties relating to the subject matter of this</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(including</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Memorandum</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Understanding);</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">provided</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold;">that</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">nothing&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in this Clause&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">34.8&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">shall&nbsp;inval</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">idate&nbsp;the Contractually Binding Clauses (as defined in the Memorandum of Understanding).</font></font></td>
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<p style="margin: 0.5pt 0pt 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><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'>85</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 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.9</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Each Party acknowledges and represents that it has not relied on or been induced to enter into this Agreement by a representation, warranty or undertaking (whether contractual or otherwise) given by any of the other Parties other than as set out in this Ag</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reement or each document referred to in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">it.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.10</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">None of the Parties are liable to any of the other Parties (in equity, contract or tort (including negligence), under the Misrepresentation Act 1967 or in any other way) for a representation, warranty or underta</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">king that is not set out in this Agreement or any document referred to in this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement.</font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.11</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">agree</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">no</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">adviser</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">liability</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to the other Parties (in equity, contract or tort (including negligence), und</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">er the Misrepresentation Act 1967 or in any other way) for a representation, warranty or undertaking that is not set out in this Agreement or any document referred to in this Agreement.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.12</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">The</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">consider</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provisions</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">contained</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">are</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reasonable,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">but if any provision is found to be unenforceable but for any part of it being deleted or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -1.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">any period</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">area</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">application</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">reduced</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">provision</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">apply</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">modification as may be necessary to make it valid and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">effective.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 10pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.13</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Nothing in this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">34 </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">shall have the effect of limiting or restricting any liability arising as a result of any fraud, wilful misconduct or wilful</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">concealment.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.14</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Neither this Agreement nor any right, remedy, obligation or</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> liability arising hereunder or by reason hereof shall be assigned or novated by any Party pursuant to the Transfer of such Party's interest in the Downstream Co to a Third Party Offeror, other than the provisions of Clauses </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">2</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">6</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">7</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">10</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">11</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">12</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">16</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">17</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">18</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">21</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> and </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">26</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">34.15</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Nothing in this Agreement shall constitute a partnership or other co-operative entity between any of the Parties, or constitute any Party the agent of any other Party for any purpose.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">35.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B35aaaaac_Z020OF7LW000000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">GOVERNING</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">LAW</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Agreement and all non contractual or other obligati</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">ons arising out of or in connection with it are governed by English law.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">36.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B36666a_K84TQP7VWW00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">GOVERNING</font></a><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">LANGUAGE</font></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.25pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">This Agreement is drawn up in the English language. If this Agreement is translated into another language, the English language text prevails.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<h1 style="margin: 0pt 0pt 0pt 46pt; orphans: 0; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold; letter-spacing: -0.05pt;">37.</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><a style="text-decoration: none; color: #000000; cursor: default; outline: none; pointer-events: none;" href="#TOC" name="B37qqqqq_5IKJX3ELGG00000000000000000000" class="customBookmark"><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">RBITRATION</font></a></h1>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 9.9pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">37.1</font><font style="font: 7.0pt 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Any</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> dispute (a "</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Dispute</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">") arising from or connected with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement or the consequences</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">nullity),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">will</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">referred</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">finally</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">resolved</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">arbitration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">under </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Arbitration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">International</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Chamber</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Commerce</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">("</font><font style="font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">Rules</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">"),</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">which</font></p>
<p style="font-size: 10pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>86</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: 4.5pt 0pt 0pt 46pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">Rules are deemed to be incorporated by reference into this Clause </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">37</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, other than in respect of any dispute arising from or in connection with:</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.85pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">37.1.1</font><font style="font-family: 'Times New Roman'; font-size: 12pt; margin-left: 12pt;">determining whether ROSM is Disqualified, which shall be determined exclusively</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">accordance</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Clause</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">3.5</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">,</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">save</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">case</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">fraud</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">manifest </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">error by a Qualifying</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Physician;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 9.8pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">37.1.2</font><font style="font-family: 'Times New Roman'; font-size: 12pt; margin-left: 12pt;">determining the Downstream Co Value, which shall be determined exclusively in accordance </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">with Clause 20</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, save in the case of fraud or manifest error by </font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.2pt;">the </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Cosan Valuer, Shell Valuer or Sole</font><font style="font-family: 'Times New Roman'; font-size: 12pt;"> Valuer (as applicable);</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">or&nbsp;</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 10.05pt 0pt 82pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt; letter-spacing: -0.1pt;">37.1.3</font><font style="font-family: 'Times New Roman'; font-size: 12pt; margin-left: 12pt;">determining the Fair Market Value of any Non Cash On Completion Consideration, which shall be agreed or determined exclusively in accordance with </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Schedule 9</font><font style="font-family: 'Times New Roman'; font-size: 12pt;">, save in the case of fraud or manifest error by the Independent Non Cash Consideration</font><font style="font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 12pt;">Valuer.</font></p>
<table style="width: 100%; margin-left: 0.1px; height: 57px; font-family: 'times new roman'; font-size: 10pt;">

<tr style="height: 10px;">
<td style="height: 10px; width: 2%; vertical-align: top; padding: 12px 0px;" valign="top"><br></td>
<td style="height: 10px; width: 5%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">37.2</font><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman'; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&nbsp;&nbsp;</font></font></td>
<td style="height: 10px; width: 93%; vertical-align: top; padding: 12px 0px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The tribunal will consist of three arbitrators two of whom will be nominated by the respective parties, and the third, who shall act as chairman, shall be a na</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">tional of a member</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.7pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">state</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Organisation</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">for</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.75pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Economic</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Co-operation</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.65pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Development</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(except the United States of America, England or the Netherlands) and nominated by the other two</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">arbitrators</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">together</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">(but</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">failing</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">agreement</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">within</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.35pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">30</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">days</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">appoin</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">tment</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.4pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the second arbitrator, the third arbitrator shall be appointed by the ICC). The seat of the arbitration</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">will</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">S&#227;o</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Paulo,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Brazil,</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.5pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">language</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">of</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">the</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">arbitration</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.55pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">will</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.45pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.6pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">English.</font></font></td>
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<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">37.3</font></td>
<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The parties agree that the arbitral tribunal will have power to award on a provisional basis any relief that it would have power to grant on a final</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">award.</font></font></td>
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<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">37.4</font></td>
<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Without prejudice to the powers of the arbitrator provided by the Rules, statute or otherwise, the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">arbitrator will have power at any time, on the basis of written evidence and the submissions of the Parties alone, to make an award in&nbsp;favour&nbsp;of&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: 0.1pt;">the&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">claimant (or the respondent if a counterclaim) in respect of any claims (or counterclaims) to which there i</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s no reasonably arguable&nbsp;defence, either at all or except as to the amount of any damages or other sum to be</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">awarded.</font></font></td>
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<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><br></td>
<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">37.5</font></td>
<td style="height: 10px; vertical-align: top; padding: 0px 0px 12px;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">parties</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">agree</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.3pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">to</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">keep</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">confidential</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">all</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">materials</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">used</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">in</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">and</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">all</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.15pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">awards</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.2pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">received</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.25pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">as</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">a result of any Dispute proceedings, except to th</font><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">e extent required to be disclosed by applicable</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.05pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">Law.</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"><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; font-size: 12pt; letter-spacing: -0.1pt;">37.6</font></td>
<td style="height: 17px; vertical-align: top;" valign="top"><font style="font-size: 12pt;"><font style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The Parties exclude any rights to refer points of Law or to appeal to the courts, to the extent that they can validly waive these</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman'; letter-spacing: -0.1pt;">&nbsp;</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">rights.</font></font></td>
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<p style="margin: 0pt 9.95pt 0pt 46pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><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'>87</font></font></td>
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<DOCUMENT>
<TYPE>EX-4.8
<SEQUENCE>16
<FILENAME>ex48_6.htm
<DESCRIPTION>EXHIBIT 4.8
<TEXT>
<html><body><div><div style="font-family: &quot;times new roman&quot;, times;">
<div style="font-size: 10pt;">
<p style="margin: 0pt; color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-family: 'Times New Roman';"><font style="font-weight: bold;"><font style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';">Exhibit 4.8</font></font></p>
<p style="margin: 0pt; color: #000000; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-family: 'Times New Roman';"><font style="font-weight: bold;"><font style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';"><br></font></font></p>
<p style="margin: 4.55pt 21.9pt 0pt 0pt; orphans: 0; text-align: right; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">EXECUTION VERSION</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
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<td style="width: 100%; text-align: center; padding: 0px 0px 10px; vertical-align: top; border-bottom: 2.8pt double #000000;" valign="top"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">S</font><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">EVENTH&nbsp;</font><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">A</font><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">MENDMENT TO THE</font></font></td>
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<p style="font-size: 11pt; line-height: 267%; margin: 4.6pt 144.05pt 0pt 144.25pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">S</font><font style="font-family: 'Times New Roman'; font-weight: bold;">HAREHOLDERS</font><font style="font-family: 'Times New Roman'; font-weight: bold;">&#8217; A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">GREEMENT OF</font></font></p>
<p style="margin: 2.6pt 144.05pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">R</font><font style="font-family: 'Times New Roman'; font-weight: bold;">A&#205;ZEN </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A.</font></font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 252%; margin: 0pt 193.05pt 0pt 193.15pt; orphans: 0; text-align: center; text-indent: 0.05pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">between </font></p>
<p style="font-size: 11pt; line-height: 252%; margin: 0pt 193.05pt 0pt 193.15pt; orphans: 0; text-align: center; text-indent: 0.05pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">OSAN </font><font style="font-family: 'Times New Roman';">S.A.</font></font></p>
<p style="margin: 0.2pt 0pt 0pt 0.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">OSAN </font><font style="font-family: 'Times New Roman';">I</font><font style="font-family: 'Times New Roman';">NVESTIMENTOS E </font><font style="font-family: 'Times New Roman';">P</font><font style="font-family: 'Times New Roman';">ARTICIPA&#199;&#213;ES </font><font style="font-family: 'Times New Roman';">S.A.</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 7.45pt 144.05pt 0pt 144pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">AND</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 8.25pt 144.05pt 0pt 144.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">S</font><font style="font-family: 'Times New Roman';">HELL </font><font style="font-family: 'Times New Roman';">B</font><font style="font-family: 'Times New Roman';">RAZIL </font><font style="font-family: 'Times New Roman';">H</font><font style="font-family: 'Times New Roman';">OLDING </font><font style="font-family: 'Times New Roman';">B.V.</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 7.45pt 144.05pt 0pt 144pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">AND</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 8.35pt 144.05pt 0pt 144.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">R</font><font style="font-family: 'Times New Roman';">A&#205;ZEN </font><font style="font-family: 'Times New Roman';">S.A.</font></font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 0.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">as intervening and consenting party</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
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<td style="width: 100%; text-align: center; height: 20px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">D</font><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">ATED AS OF</font></font></td>
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<td style="width: 100%; text-align: center; height: 20px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><font style="font-size: 11pt; font-weight: bold;">JULY 11, 2021</font><br></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>1</font></font></td>
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<p style="line-height: 12.6pt; margin: 0pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">By this Seventh Amendment to the Shareholders&#8217; Agreement of Ra&#237;zen S.A., signed on&nbsp;</font><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">July 11</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">2021:</font></font></p>
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<td style="vertical-align: top; text-align: right; width: 4%;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1)</font></td>
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<p style="font-size: 11pt; line-height: 126%; margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold;">OSAN </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A.</font><font style="font-family: 'Times New Roman';">, a corporation organized and existing according to the laws of Brazil, with</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman';">headquarters</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">City</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">S&#227;o</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Paulo,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman';">State</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman';">S&#227;o</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman';">Paulo,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman';">at</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman';">Avenida</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Brigadeiro Faria Lima, 4100, 16</font><font style="font-family: 'Times New Roman'; vertical-align: 4pt;">th </font><font style="font-family: 'Times New Roman';">floor, room 1, Itaim Bibi, CEP 04538-132, enrolled with the Brazilian tax registry under No.50.746.577/0001-15, with its Byelaws registered at Commercial Registry of the State of S&#227;o Paulo under NIRE 35.300.177.045, herein represented by its authorized undersigned legal representatives, hereinafter referred to as &#8220;</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">OSAN</font><font style="font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.15pt; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">S.A.</font><font style="font-family: 'Times New Roman';">&#8221;;</font></font></p>
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<td style="vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(2)</font></td>
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<p style="font-size: 11pt; line-height: 126%; margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold;">OSAN </font><font style="font-family: 'Times New Roman'; font-weight: bold;">I</font><font style="font-family: 'Times New Roman'; font-weight: bold;">NVESTIMENTOS E </font><font style="font-family: 'Times New Roman'; font-weight: bold;">P</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ARTICIPA&#199;&#213;ES </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A.</font><font style="font-family: 'Times New Roman';">, a corporation organized and existing according to the laws of Brazil, with headquarters in the City of S&#227;o Paulo, State</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">S&#227;o</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Paulo,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">at</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Avenida</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">Brigadeiro</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">Faria</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">Lima,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">4100,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">16</font><font style="font-family: 'Times New Roman'; vertical-align: 4pt;">th</font><font style="font-family: 'Times New Roman'; letter-spacing: 0.3pt; vertical-align: 4pt;"> </font><font style="font-family: 'Times New Roman';">floor,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">room</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">3,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Itaim Bibi, CEP 04538-132, enrolled with the Brazilian tax registry under No. 18.777.673/0001-18, with its Byelaws registered at Commercial Registry of the State of S&#227;o Paulo under NIRE 3530045617-3, herein represented by its authorized undersigned legal representatives, hereinafter referred to as &#8220;</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">OSAN </font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">I</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">NVESTIMENTOS</font><font style="font-family: 'Times New Roman';">&#8221; and together with </font><font style="font-family: 'Times New Roman'; font-weight: bold;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold;">OSAN </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A. </font><font style="font-family: 'Times New Roman';">collectively &#8220;</font><font style="font-family: 'Times New Roman'; font-weight: bold;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold;">OSAN</font><font style="font-family: 'Times New Roman';">&#8221;;</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">and</font></font></p>
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<td style="vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(3)</font></td>
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<p style="font-size: 11pt; line-height: 126%; margin: 0px; text-align: justify; text-indent: 0px;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">S</font><font style="font-family: 'Times New Roman'; font-weight: bold;">HELL </font><font style="font-family: 'Times New Roman'; font-weight: bold;">B</font><font style="font-family: 'Times New Roman'; font-weight: bold;">RAZIL </font><font style="font-family: 'Times New Roman'; font-weight: bold;">H</font><font style="font-family: 'Times New Roman'; font-weight: bold;">OLDING </font><font style="font-family: 'Times New Roman'; font-weight: bold;">B.V.</font><font style="font-family: 'Times New Roman';">, a corporation organized and existing according to the laws of the Netherlands with registered number 27192050 0000, with its principal</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">place</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">business</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">at</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">30,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">Carel</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">van</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">Bylandtlaan,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">2596HR</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">'s-Gravenhage,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">the Netherlands, enrolled with the Brazilian tax registry under No.05.717.887/0001-57, herein represented by its authorized undersigned legal representatives, hereinafter referred to as</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">S</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">HELL</font><font style="font-family: 'Times New Roman';">&#8221;;</font></font></p>
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<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;"><br></font></p>
<p style="margin: 4.55pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">As intervening and consenting party,</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<td style="width: 4%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top; text-align: right;" valign="top"><font style="color: #000000; font-family: 'andale mono', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -37.8px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(4)</font></td>
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<td style="width: 94%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; vertical-align: top;" valign="top">
<p style="font-size: 11pt; line-height: 126%; margin: 0px; text-align: justify; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">R</font><font style="font-family: 'Times New Roman'; font-weight: bold;">A&#205;ZEN </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A.</font><font style="font-family: 'Times New Roman';">(formerly known as Ra&#237;zen Combust&#237;veis S.A.), a corporation organized and existing according to the laws of Brazil, with headquarters in the City of Rio de Janeiro, State of Rio de Janeiro, at Avenida Almirante Barroso, 81, 36</font><font style="font-family: 'Times New Roman'; vertical-align: 4pt;">th</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">floor, room 36A104, Zip Code 20.031-004, enrolled with the Brazilian tax registry under No. 33.453.598/0001-23, with its Byelaws registered at Commercial Registry of the State of Rio de Janeiro under NIRE 33.3.0029867-3, herein represented by its authorized</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">undersigned</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">legal</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">representatives,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">hereinafter</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">referred</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">OMPANY</font><font style="font-family: 'Times New Roman';">&#8221;; and&nbsp;</font></font></p>
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<p style="font-size: 7pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><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'>2</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><br></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.95pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Cosan S.A., Cosan Investimentos, Shell and the Company are hereinafter referred to together as the &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Parties</font><font style="font-family: 'Times New Roman';">&#8221; and individually as &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Party</font><font style="font-family: 'Times New Roman';">&#8221;.</font></font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<h1 style="margin: 4.55pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">WHEREAS</font></h1>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">A.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">Pursuant to the terms of the Framework Agreement, Cosan and Shell agreed to establish</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">Joint</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">Venture</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">combine</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">certain</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">assets</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">Cosan</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">Shell</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">primarily</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">in Brazil;</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">B.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">Cosan (through itself and/or any of its Affiliates) and Shell (through itself and/or any of its Affiliates) have an equal economic interest in the Joint Venture and as a general principle,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">Cosan</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">(through</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">itself</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">and/or</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">any</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">its</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">Affiliates)</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">Shell</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">(through</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">itself</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">and/or any of its Affiliates) will share the profits, losses, access to cash flows and economic interest of the Joint Venture on an equal</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman';">basis;</font></font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">C.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">The Joint Venture comprises the Sugar and Ethanol Co, which holds the sugar, ethanol,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman';">co-generation</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman';">certain</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman';">other</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">assets</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Joint</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">Venture</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Company</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">which holds the downstream and certain other assets of the Joint</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">Venture;</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">D.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On June 1</font><font style="font-family: 'Times New Roman'; vertical-align: 4pt;">st</font><font style="font-family: 'Times New Roman';">, 2011, Cosan, Cosan Distribuidora de Combust&#237;veis Ltda., a corporation organized according to the laws of Brazil, with headquarters in the City of Barra Bonita, State of S&#227;o Paulo, at Fazenda Pau D'Alho, without number, Pr&#233;dio Administrativo Cosan, CEP 17340-000, enrolled with the Brazilian tax registry under No. 02.041.195/0001-43</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">(a</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">company</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">which</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">has</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">been</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">further</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman';">merged</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">into</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">Cosan</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman';">S.A.)</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">Shell entered into the Shareholders&#8217; Agreement of the Company (hereinafter referred to as the&nbsp; &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Shareholders&#8217; Agreement</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">of the Company</font><font style="font-family: 'Times New Roman';">&#8221;);</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">E.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On December 26, 2013, the Parties amended the Shareholders&#8217; Agreement of the Company in order to reflect some changes (hereinafter referred to as the &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">First Amendment</font><font style="font-family: 'Times New Roman';">&#8221;);</font></font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">F.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On December 19, 2014, the Parties amended the Shareholders&#8217; Agreement of the Company in order to reflect the creation of the preferred &#8216;D&#8217; shares of the Company, as well</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">some</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">changes</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">arising</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">from</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">it</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">(hereinafter</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">referred</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">&#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Second</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Amendment</font><font style="font-family: 'Times New Roman';">&#8221;);</font></font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.55pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">G.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">November</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">22,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">2016,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">Parties</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">decided</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">amend</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">restate</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">Joint</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">Venture Agreement in order to, amongst other things, replace the time bound put and call options exercisable in 2021 and 2026 with event triggered call options, as set forth</font><font style="font-family: 'Times New Roman'; letter-spacing: -1.2pt;"> </font><font style="font-family: 'Times New Roman';">therein;</font></font></p>
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<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.55pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">H.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On the same date, the Parties amended the Shareholders&#8217; Agreement of</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.25pt;"> </font><font style="font-family: 'Times New Roman';">the Company to make it consistent with the Joint Venture Agreement (in view of item (G) above) and to amend the provisions in relation to the appointment of the Chairperson, the CEO and the CFO of the Company, among other modifications provided therein (hereinafter referred to as the &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Third</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Amendment</font><font style="font-family: 'Times New Roman';">&#8221;);</font></font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.55pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">I.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On August 23, 2018, the Parties amended the Shareholders&#8217; Agreement of the Company to include some activities in the scope of business of the Company in a new territory</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">(Argentina)</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">also</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">modify</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">some</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">restrictions</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">regarding</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">engagement of the Shareholders in such activities accordingly (hereinafter referred to as the &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Fourth Amendment</font><font style="font-family: 'Times New Roman';">&#8221;);</font></font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.55pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">J.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">On October 28, 2020, the Parties amended the Shareholders&#8217; Agreement of the Company to include some business activities of convenience and proximity stores in the scope</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">business</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">Company,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman';">well</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">as</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">to</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">set</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">specific</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">non-compete</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman';">provisions</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman';">in relation to such businesses (hereinafter referred to as the &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Fifth</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Amendment</font><font style="font-family: 'Times New Roman';">&#8221;);</font></font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;">K.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">On </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">May </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">31, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">2021, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Parties </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">amended </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Shareholders&#8217; Agreement </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the</font><font style="font-family: 'Times New Roman'; letter-spacing: -2pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Company </font><font style="font-family: 'Times New Roman';">to </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">reflect </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">implications </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of: (i) the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">corporate reorganization </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Company, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">through which </font><font style="font-family: 'Times New Roman';">it </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">became </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">holder </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of all </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">common </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">shares </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Sugar </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Ethanol </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">Co </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">(less </font><font style="font-family: 'Times New Roman';">1 </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">common share </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">owned</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman';">by</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">each</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Cosan</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Shell),</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">all</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">'A',</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">'B',</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">'D'</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.95pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">preferred</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">shares</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Sugar</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Ethanol </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">Co </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">were </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">repurchased </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and cancelled </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">or </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">converted into common shares and </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">all </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">'A', 'D', and 'E' preferred shares </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Company were </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">repurchased </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">and </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">cancelled </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">or </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">converted </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">into common shares (the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">"</font><font style="font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.25pt;">Ra&#237;zen Reorganization</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">"); </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">(ii) the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">corporate reorganization involving </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Cosan S.A. and certain </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of its </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">affiliates; (iii) </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">proposed acquisition, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">which </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">may </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">occur prior </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">to, on or </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">after </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">date </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Seventh Amendment </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">(as </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">defined below), </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">by </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">H&#233;dera Investimentos </font><font style="font-family: 'Times New Roman';">e </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Participa&#231;&#245;es S.A., </font><font style="font-family: 'Times New Roman';">a </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">corporation duly </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">incorporated </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">under </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">laws </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Brazil, with </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">its </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">headquarters </font><font style="font-family: 'Times New Roman';">in </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">city </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">S&#227;o </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Paulo, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">State </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">S&#227;o Paulo, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">at </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Av. </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Brigadeiro </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Faria Lima, No. 1355, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">12th </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">floor, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">room 4, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Zip Code 01.452-919, enrolled with </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">CNPJ under No. </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">12.686.989/0001-18 </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">("</font><font style="font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.2pt;">H&#233;dera</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">"), </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">certain preferred shares </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Company </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">pursuant </font><font style="font-family: 'Times New Roman';">to a </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">share </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">purchase agreement </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">dated </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">February </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">8, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">2021 and entered into </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">between H&#233;dera, Biosev </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">S.A., </font><font style="font-family: 'Times New Roman';">a </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">publicly-held </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">joint-stock </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">company </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">(sociedade por a&#231;&#245;es </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">de </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">capital aberto) duly </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">incorporated </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">under </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">laws </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Brazil, with </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">its </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">headquarters </font><font style="font-family: 'Times New Roman';">in </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">city </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">S&#227;o </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Paulo, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">State </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">S&#227;o </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Paulo, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">at </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Av. </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Brigadeiro </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Faria Lima, No. 1355, 11th floor, Zip Code 01.452-919, enrolled with </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">CNPJ </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">under </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">No. </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">15.527.906/0001-36, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Company, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Sugar </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">and </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Ethanol </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Co, </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">and, as</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.35pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">intervening-consenting</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.35pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">parties,</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.35pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Louis</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.4pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Dreyfus</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.5pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Commodities</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.35pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.35pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Energy</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.35pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">Holdings</font><font style="font-family: 'Times New Roman'; letter-spacing: 1.4pt;"> </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">N.V.,</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Cosan </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">S.A., Cosan </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Investimentos </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and Shell; and (iv) </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">review </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">of the </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">Company&#8217;s </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">scope </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.15pt;">for </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">certain </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;">businesses; </font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;">and</font></font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">M.</font><font style="font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">The Parties have decided to further amend the Shareholders&#8217; Agreement of the Company to reflect the implications of the IPO of the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman';">Company.</font></font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">NOW THEREFORE</font><font style="font-family: 'Times New Roman';">, in consideration of the premises and other good and valuable consideration, the Parties mutually hereby agree to enter into this Seventh Amendment to the Shareholders&#8217; Agreement of the Company (hereinafter referred to as the &#8220;</font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Seventh</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Amendment</font><font style="font-family: 'Times New Roman';">&#8221;) which shall be governed by the terms and conditions below:</font></font></p>
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<h1 style="margin: 4.55pt 144.05pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">ARTICLE ONE</font></h1>
<p style="margin: 3.35pt 144.05pt 0pt 144.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">DEFINITIONS</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">1.1. Capitalized terms used and not otherwise defined in this Seventh Amendment are used herein with the same meanings ascribed to such terms in the Shareholders&#8217; Agreement of the Company as amended. All terms defined in this Seventh Amendment</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">shall</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">have</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">defined</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">meanings</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">contained</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">herein</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">when</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">used</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">in</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">any</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">certificate or other document made or delivered pursuant hereto unless otherwise defined</font><font style="font-family: 'Times New Roman'; letter-spacing: -1pt;"> </font><font style="font-family: 'Times New Roman';">therein.</font></font></p>
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<h1 style="margin: 0pt 144.05pt 0pt 144pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">ARTICLE TWO</font></h1>
<p style="margin: 3.3pt 0pt 0pt 0.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">AMENDMENT AND RESTATEMENT</font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">2.1.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">The Parties hereby agree and decide to amend the Shareholders&#8217; Agreement of the Company such that it shall read as attached herein as </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">Exhibit I</font><font style="font-family: 'Times New Roman';">, which contains</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">entire</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">agreement</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman';">understanding</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">concerning</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman';">the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">subject</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">matters</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman';">hereof</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman';">and thereof among the Parties hereto and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman';">thereto.</font></font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">2.2.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">This</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">Seventh</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman';">Amendment</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">constitutes</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">a</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman';">legal,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman';">valid</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">and</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman';">binding</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman';">obligation of the Parties, enforceable in accordance with its</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman';">terms.</font></font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">2.3.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal; font-family: 'Times New Roman';">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman';">This Seventh Amendment shall become effective immediately following the Commencement Announcement.</font></font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 10.7pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">IN WITNESS WHEREOF</font><font style="font-family: 'Times New Roman';">, the parties sign this instrument in four (4) counterparts of identical content and for one sole purpose, in the presence of the two (2) undersigned witnesses.</font></font></p>
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<p style="margin: 4.55pt 0pt 0pt 0.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">S&#227;o Paulo,</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">July 11</font><font style="font-family: 'Times New Roman';">,</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman';">2021.</font></font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 22pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-style: italic;">First Page of Signature of the Seventh Amendment to the Shareholders&#8217; Agreement of Ra&#237;zen S.A. entered into by Cosan S.A, Cosan Investimentos e Participa&#231;&#245;es S.A., Shell Brazil Holding BV and Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-style: italic;">S.A, o</font><font style="font-family: 'Times New Roman'; font-style: italic;">n</font><font style="font-family: 'Times New Roman'; font-style: italic;"> July 11</font><font style="font-family: 'Times New Roman'; font-style: italic;">,</font><font style="font-family: 'Times New Roman'; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-style: italic;">2021.</font></font></p>
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<p style="margin: 0pt 144.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">OSAN </font><font style="font-family: 'Times New Roman';">S.A.</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Luis Henrique Cals de Beauclair</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Guimar&#227;es</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Maria Rita de Carvalho Drummond</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Name: </font><font style="font-family: 'Times New Roman';">Luis Henrique Cals de Beauclair</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Guimar&#227;es</font></font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Title: </font><font style="font-family: 'Times New Roman';">Chief Executive Officer</font></font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; height: 42px; border-bottom-width: 1px;">
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name: Maria Rita de Carvalho Drummond</font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Title: </font><font style="font-family: 'Times New Roman';">General Counsel</font></font></p>
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<p style="margin: 4.6pt 0pt 0pt 0.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">C</font><font style="font-family: 'Times New Roman';">OSAN </font><font style="font-family: 'Times New Roman';">I</font><font style="font-family: 'Times New Roman';">NVESTIMENTOS E </font><font style="font-family: 'Times New Roman';">P</font><font style="font-family: 'Times New Roman';">ARTICIPA&#199;&#213;ES </font><font style="font-family: 'Times New Roman';">S.A.</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Rubens Ometto Silveira Mello</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; border-bottom: 1px solid #000000; width: 45%;">
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Maria Rita de Carvalho Drummond</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Name: </font><font style="font-family: 'Times New Roman';">Rubens Ometto Silveira Mello</font></font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Title: </font><font style="font-family: 'Times New Roman';">Chief Executive Officer</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name: Maria Rita de Carvalho Drummond</font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title: Officer</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'>7</font></font></td>
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<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 22pt 0pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-style: italic;">Second Page of Signature of the Seventh Amendment to the Shareholders&#8217; Agreement of Ra&#237;zen S.A. entered into by Cosan S.A, Cosan Investimentos e Participa&#231;&#245;es S.A., Shell Brazil Holding BV and Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-style: italic;">S.A, </font><font style="font-family: 'Times New Roman'; font-style: italic;">on</font><font style="font-family: 'Times New Roman'; font-style: italic;"> July 11</font><font style="font-family: 'Times New Roman'; font-style: italic;">,</font><font style="font-family: 'Times New Roman'; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-style: italic;">2021.</font></font></p>
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<p style="margin: 0pt 144.05pt 0pt 144.15pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">S</font><font style="font-family: 'Times New Roman';">HELL </font><font style="font-family: 'Times New Roman';">B</font><font style="font-family: 'Times New Roman';">RAZIL </font><font style="font-family: 'Times New Roman';">H</font><font style="font-family: 'Times New Roman';">OLDING </font><font style="font-family: 'Times New Roman';">B.V.</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;<font style="font-weight: bold;">/s/ </font>Lauran&nbsp;Jacques Leon Wetemans</font></p>
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<p style="line-height: 16pt; margin: 0.05pt 156.85pt 0pt 0pt; padding-left: 5.4pt;"><font style="vertical-align: top; border-bottom-width: 1px; font-size: 11pt;">Name:Lauran Jacques Leon Wetemans</font></p>
<p style="line-height: 16pt; margin: 0.05pt 156.85pt 0pt 0pt; padding-left: 5.4pt;"><font style="vertical-align: top; border-bottom-width: 1px; font-size: 11pt;">Title: Director</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'>8</font></font></td>
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<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-style: italic;">Third Page of Signature of the Seventh Amendment to the Shareholders&#8217; Agreement of Ra&#237;zen S.A. entered into by Cosan S.A, Cosan Investimentos e Participa&#231;&#245;es S.A., Shell Brazil Holding BV and Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-style: italic;">S.A, </font><font style="font-family: 'Times New Roman'; font-style: italic;">on July 11</font><font style="font-family: 'Times New Roman'; font-style: italic;">,</font><font style="font-family: 'Times New Roman'; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-style: italic;">2021.</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">&nbsp;</font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-variant: small-caps;">Ra&#237;zen S.A.</font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-variant: small-caps;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-variant: small-caps;">&nbsp;</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Guilherme Jos&#233; de Vasconcelos</font><font style="font-family: 'Times New Roman';"> Cerqueira</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Antonio Ferreira Martins</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Name: </font><font style="font-family: 'Times New Roman';">Guilherme Jos&#233; de Vasconcelos</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Cerqueira</font></font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title: CFO</font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Name: </font><font style="font-family: 'Times New Roman';">Antonio Ferreira Martins</font></font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Title: Legal VP</font></p>
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<p style="margin: 0pt 0pt 0pt 22.5pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">WTINESSES:</font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Jessica Bittencourt Poppe</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">/s/</font><font style="font-family: 'Times New Roman';"> </font><font style="font-family: 'Times New Roman';">Jo</font><font style="font-family: 'Times New Roman';">siele Feitosa de Oliveira</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Name: </font><font style="font-family: 'Times New Roman';">Jessica Bittencourt Poppe</font></font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">ID Card: </font><font style="font-family: 'Times New Roman';">43.980.378-0</font></font></p>
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<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">Name: Jo</font><font style="font-family: 'Times New Roman';">siele Feitosa de Oliveira</font></font></p>
<p style="line-height: 16pt; margin: 0pt; orphans: 0; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">ID Card: 4</font><font style="font-family: 'Times New Roman';">9.194.723-9</font></font></p>
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<h1 style="margin: 4.6pt 144.05pt 0pt 144.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; text-decoration: underline;">Exhibit I</font></h1>
<p style="text-align: center;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">TO THE </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S</font><font style="font-family: 'Times New Roman'; font-weight: bold;">EVENTH </font><font style="font-family: 'Times New Roman'; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">MENDMENT TO THE </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S</font><font style="font-family: 'Times New Roman'; font-weight: bold;">HAREHOLDERS</font><font style="font-family: 'Times New Roman'; font-weight: bold;">&#8217; A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">GREEMENT OF </font><font style="font-family: 'Times New Roman'; font-weight: bold;">R</font><font style="font-family: 'Times New Roman'; font-weight: bold;">A&#205;ZEN</font></font></p>
<p style="text-align: center;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A.</font><font style="font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">EXECUTED</font><font style="font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">ON</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;"> July 11</font><font style="font-family: 'Times New Roman'; font-weight: bold;">,</font><font style="font-family: 'Times New Roman'; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-weight: bold;">2021</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 0.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">MENDED AND </font><font style="font-family: 'Times New Roman'; font-weight: bold;">C</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ONSOLIDATED </font><font style="font-family: 'Times New Roman'; font-weight: bold;">V</font><font style="font-family: 'Times New Roman'; font-weight: bold;">ERSION OF THE </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S</font><font style="font-family: 'Times New Roman'; font-weight: bold;">HAREHOLDERS</font><font style="font-family: 'Times New Roman'; font-weight: bold;">&#8217; A</font><font style="font-family: 'Times New Roman'; font-weight: bold;">GREEMENT OF</font></font></p>
<p style="margin: 3.45pt 0pt 0pt 0.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-weight: bold;">R</font><font style="font-family: 'Times New Roman'; font-weight: bold;">A&#205;ZEN </font><font style="font-family: 'Times New Roman'; font-weight: bold;">S.A. (</font><font style="font-family: 'Times New Roman'; font-weight: bold;">HEREINAFTER REFERRED TO AS THE </font><font style="font-family: 'Times New Roman'; font-weight: bold;">&#8220;</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">A</font><font style="font-family: 'Times New Roman'; font-weight: bold; text-decoration: underline;">GREEMENT</font><font style="font-family: 'Times New Roman'; font-weight: bold;">&#8221;)</font></font></p>
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<p style="margin: 4.6pt 144.05pt 0pt 144pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">RECITAL</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman';">The Seventh Amendment to the Shareholders' Agreement of Ra&#237;zen S.A. was executed</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman';">on</font><font style="font-family: 'Times New Roman'; text-decoration: underline;"> </font><font style="font-family: 'Times New Roman'; text-decoration: underline;">July 11</font><font style="font-family: 'Times New Roman';">, 2021 t</font><font style="font-family: 'Times New Roman';">o reflect the implications of the IPO of the</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman';">Company.</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 1.2; margin: 0px; text-align: center; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">ARTICLE 1 </font></p>
<p style="font-size: 11pt; line-height: 1.2; margin: 0px; text-align: center; text-indent: 0px;"><font style="font-size: 11pt;"><font style="font-family: 'Times New Roman'; letter-spacing: -0.05pt; line-height: inherit;">D</font><font style="font-family: 'Times New Roman'; letter-spacing: -0.05pt; line-height: inherit;">EFINITIONS</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.95pt 0pt 64pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section 1.01</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">. Definitions. </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(a) As used in this Agreement, the following terms shall have the following</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">meanings:</font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Affiliate</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, in relation to any person, a Subsidiary of that person or a Holding</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">that</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">person</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Subsidiary</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Holding</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">provided </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">that, for the purposes of this Agreement, no JV Entity shall be considered an Affiliate of any Shareholder.</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&#8220;Aguassanta</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Aguassanta Participa&#231;&#245;es S.A., a company organised and existing under the laws of Brazil, with its head office at Avenida Brigadeiro Faria Lima No. 4100, 16th floor, room 08, Zip Code 04538-132, S&#227;o Paulo, SP, Brazil, enrolled with the Brazilian tax registry under number 07.198.897/0001-59.</font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Anti-Corruption Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the US Foreign Corrupt Practices Act of 1977, the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">United</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Kingdom</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Prevention</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Corruption</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Acts</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">1889</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">1916</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">United</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Kingdom Bribery Act of 2010, Decree (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Decreto</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) 4,410 of October 7, 2002 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Interamerican Convention Against Corruption</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) of Brazil, Decree (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Decreto</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) 5,687 of January 31, 2006 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">United</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Nations</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Convention</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Against</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Corruption</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazil,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">No.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">8,429</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">dated June 2, 1992 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei de Improbidade Administrativa</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), Brazilian Law No. 9,613 dated March 3, 1998 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei de Preven&#231;&#227;o &#224; Lavagem de Dinheiro</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), Brazilian Law No. 8,666 dated June 21,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">1993</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Licita&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">e</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Contratos</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Administrativos</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">No.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">12,846</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">dated August</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">1,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">2013</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">da</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Empresa</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Limpa</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">No.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">14,133</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">dated</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">April</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">1,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">2021</font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(the new </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei de Licita&#231;&#245;es e Contratos Administrativos</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), or any applicable law of similar effect.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 58pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">B3</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o.</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 16.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Beneficial Owner</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, in respect of a security, any Person who, directly or indirectly,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">through</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">contract,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">arrangement,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">understanding,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">relationship,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">has or shares: (a) voting power which includes the power to vote, or to direct the voting of, such</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">security;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and/or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">investment</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">power</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">includes</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">power</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">transfer,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">direct the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">transfer</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">security;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Beneficially</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Own</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Beneficially Owned</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; has a corollary</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">meaning.</font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Brazilian Civil Code</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; shall mean Brazilian Federal Law no. 10.406 of January 10, 2002 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">lei N&#186; 10.406, de 10 de janeiro 2002</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">).</font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Brazilian Corporation Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; shall mean Brazilian Federal Law no. 6.404 of December 15, 1976 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei N&#186; 6.404 de 15 de dezembro 1976</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">).</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Business Day</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means a day other than a Saturday, Sunday or public holiday in S&#227;o Paulo, Brazil.</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Business</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Plan</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">business</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">plan</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">five-year</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">period</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">relating</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Joint Venture, the initial version of which was adopted by the Supervisory Board on June 1, 2011, and as renewed on an annual basis by the Supervisory Board in accordance with Annex D.</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 58pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Byelaws</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, in relation to any entity, the corporate byelaws (including any</font></p>
<p style="margin: 3.3pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Contrato Social </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Estatuto Social</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) of that entity.</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 16.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 38.75pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Co-gen</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Products</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means:</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">steam</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">electricity</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">generated</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">inputs</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and by-products from the Sugar production process; (ii) the feedstocks used for such </font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.1pt;">co- </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">generation; and (iii) any related by-products resulting from such</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">co-generation.</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Commencement Announcement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the publication of the announcement informing the market of the beginning of the distribution of preferred shares issued by the Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">An&#250;ncio</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">In&#237;cio</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Oferta</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">P&#250;blica</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Distribui&#231;&#227;o</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">A&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Preferenciais</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de Emiss&#227;o da</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">).</font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Ra&#237;zen S.A. (formerly known as Ra&#237;zen Combust&#237;veis S.A.), a corporation organized and existing according to the laws of Brazil, with headquarters in the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">City</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Rio</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Janeiro,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">State</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Rio</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Janeiro,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">at</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Avenida</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Almirante</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Barroso,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">81,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">36th floor, room 36A104, Zip Code 20.031-004, enrolled with the Brazilian tax registry under No. 33.453.598/0001-23, with its Byelaws registered at Commercial Registry of the State of Rio de Janeiro under NIRE</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">33.3.0029867-3.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 38.75pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Company&#8217;s Byelaws</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the Byelaws of the Company, as amended from time to time.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Company Securities</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means: (i) the common and preferred shares of the Company; (ii) any other equity or equity-linked security issued from time to time by the Company; and (iii) any options, warrants, or other rights to acquire any of the foregoing securities (including, for the avoidance of doubt, the JV Securities).</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 19.25pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Confidential Information</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any information concerning any Party or any of its Subsidiaries, whether or not in the possession of a Party before the date of this Agreement, and which relates to trade secrets, proprietary information, the marketing of goods</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">services</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(including</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">names,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">lists</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">details</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">customers,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">sales</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">targets,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">sales statistics, market share statistics, prices, market research reports and surveys, advertising or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">promotional</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">materials</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">strategies),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">future</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">projects,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">business</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">development</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">planning, commercial relationships, negotiations and business strategy; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">provided </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">that &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Confidential Information</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; does not include information that: (a) is or becomes generally available to the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">public</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">than</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">result</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">disclosure</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Party,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Affiliates</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">their Representatives in violation of this Agreement; (b) was available to such Party on a non- confidential</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">basis</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">prior</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">disclosure</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">such</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">its</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Representatives;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(c)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">becomes available to such Party on a non-confidential basis from a source other than a JV Entity after the disclosure of such information to such Party or any Party&#8217;s Representative by the JV Entity, which source is (at the time of receipt of the relevant information) not, to such Party&#8217;s knowledge, bound by a confidentiality agreement with (or other confidentiality obligation to) such JV Entity or another Person; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">provided</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">further</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, that, notwithstanding anything to the contrary contained herein, Confidential Information in the possession of Cosan,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">their</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">respective</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Subsidiaries</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">prior</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">date</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">shall, notwithstanding the foregoing exceptions in paragraphs (a) or (c), remain Confidential Information hereunder and Cosan, Shell or any of their respective Subsidiaries shall be obligated to keep, or to cause to be kept, such information confidential in accordance with the provisions of </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section 11.02 </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">as fully as if they did not have access to such information prior to the date of this Agreement but only received it after the date of this</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement.</font></p>
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<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11.5pt;">&nbsp;</font></p>
<p style="margin: 4.55pt 0pt 0pt 58pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Control</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; has the meaning given to it in the Joint Venture Agreement.</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 16.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Controlled By</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; has the meaning given to it in the Joint Venture Agreement (in the definition of 'Control').</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 38.75pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Controller</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; has the meaning given to it in the Joint Venture Agreement (in the definition of 'Control').</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Control Framework</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means a control framework to ensure compliance with reporting requirements (including in relation to section 404 of the Sarbanes-Oxley Act 2002 of the United States of America), as adopted by the Supervisory Board.</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Controlling Interest</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, in relation to an entity, a direct or indirect interest in relation to such entity which confers Control.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Convenience Business</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means a small Shell branded retail business that (i)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">may be a part of a retail site, (ii) is located within the perimeter of a retail site, which offers a limited range of products, including food, tobacco, alcoholic and nonalcoholic beverage products and magazines, as well as everyday items and food services, with extended opening hours, or (iii) is located within a corporate</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">office;</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 58pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, collectively, Cosan S.A. and Cosan Investimentos.</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 16.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Cosan S.A.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Cosan S.A., a corporation organized and existing according to the laws of Brazil, with headquarters in the City of S&#227;o Paulo, State of S&#227;o Paulo, at Avenida Brigadeiro Faria Lima, 4100, 16</font><font style="font-family: 'Times New Roman'; font-size: 7pt; vertical-align: 4pt;">th </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">floor, room 1, Itaim Bibi, CEP 04538-132, enrolled with the Brazilian tax registry under No.50.746.577/0001-15, with its Byelaws registered at Commercial Registry of the State of S&#227;o Paulo under NIRE 35.300.177.045.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Cosan Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Cosan Investimentos e Participa&#231;&#245;es S.A., a corporation organized and existing according to the laws of Brazil, with headquarters in the City of S&#227;o Paulo, State of S&#227;o Paulo, at Avenida Brigadeiro Faria Lima, 4100, 16</font><font style="font-family: 'Times New Roman'; font-size: 7pt; vertical-align: 4pt;">th </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">floor, room 3, Itaim Bibi, CEP 04538-123, enrolled with the Brazilian tax registry under No. 18.777.673/0001-18, with its Byelaws registered at Commercial Registry of the State of S&#227;o Paulo under NIRE 3530045617-3.</font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">CSLL</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the Brazilian Social Contribution on Net Profits (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Contribui&#231;&#227;o Social sobre o Lucro L&#237;quido</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">).</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Default Interest Rate</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means a per annum rate of interest equal to 2 per cent. above SELIC for payments in BRL and equal to 3 per cent. above SOFR for payments in US$.</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Distribution</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means a distribution by way of dividend payable in respect of shares, by way of IOC, by way of the redemption of shares or by way of any other distribution of profits or reserves that may be agreed by the Parties, made, or to be made, by the Company in accordance with this Agreement.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Effective Date</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the date of publication of the Commencement Announcement.</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 15pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">ethanol</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">ethanol-based</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">products,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">produced</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">each</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">case</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">from sugar</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">cane.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Existing Academic Projects</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the research projects and related activities carried</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">out</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">pursuant</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to:</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">future</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">agreement)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">with</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Embrapa</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agrobiologia relating to soil &#8220;C&#8221; balance and greenhouse gas emissions; and (b) an agreement between Shell</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brasil</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ltda.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Universidade</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Estadual</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Campinas</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8211;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">UNICAMP</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">dated</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">5</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">September 2008.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">External</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Auditors</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">forth</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Operating</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Coordination Agreement.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Framework Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the Framework Agreement dated August 25, 2010 between Cosan, Cosan Distribuidora de Combust&#237;veis Ltda. (which has been further merged</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Limited</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">company</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">been</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">further</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">merged</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">into</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan S.A.), the Company, Ra&#237;zen S.A., Shell, Shell Overseas Holdings Limited and the Sugar and Ethanol Co, as</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">amended.</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">General Meeting</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any meeting of the shareholders (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">assembleia geral</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) (including the Shareholders and Non-Party Holders) of the Company.</font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Governmental Authority</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any international, supranational or national government, any state, provincial, local or other political subdivision thereof, any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative</font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">functions (including functions relating to the audit, imposition, assessment, management and collection of Taxes) of or pertaining to government, including any government authority, agency, department, board, commission or instrumentality of any nation or jurisdiction or any political subdivision thereof or any court.</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 0pt 0pt 22pt; orphans: 0; text-indent: 38.75pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Holding Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, in relation to a company or corporation, any other company or corporation in respect of which it is a Subsidiary.</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 0pt 0pt 22pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">IOC</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means interest on capital (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">juros sobre capital proprio</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) that may be paid by Brazilian companies to shareholders.</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 16.85pt 0pt 22pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">IPO</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the initial public offering of preferred shares issued by the Company in the B3.</font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Joinder Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means an agreement to be bound by this Agreement in the form of </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Annex H</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> hereto.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Joint Venture</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the Company and its Subsidiaries, considered together (including, for the avoidance of doubt, the Sugar and Ethanol Co).</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Joint Venture Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the joint venture agreement dated 1 June, 2011, between Cosan, the Company, Shell Brazil Holding B.V., Shell Overseas Holdings Limited and the Sugar and Ethanol Co, as amended.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">JV Entity</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, after the Ra&#237;zen Reorganization, the Company, and each of the Subsidiaries of and equity interests held by, the Company, including the Sugar and Ethanol Co.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">JV</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means:</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(i)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">common</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">preferred</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">shares</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(ii) any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">equity</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">equity-linked</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">security</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">issued</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">from</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">time</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.2pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(iii)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">options,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">warrants,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">rights</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">acquire</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">foregoing</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">securities,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">which, in each case, are held (directly or indirectly) by Cosan and Shell (or their Permitted Transferees).</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Key Policies</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means all the policies approved by the Supervisory Board from time to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">time.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Lubricants</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">automotive,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">marine</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">industrial</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">lubricants</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">greases</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(but excluding aviation</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">lubricants).</font></p>
<p style="font-size: 7pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Level 3 Employee</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any employee of the Company or another JV Entity employed at the level that reports directly to any member of the Senior Management.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Non-Party Holder</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">" means any Person (other than a Shareholder) who holds Company Securities (other than the JV Securities).</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Operating and Coordination Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the agreement dated as of June 1</font><font style="font-family: 'Times New Roman'; font-size: 7pt; vertical-align: 4pt;">st</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, 2011, entered between Cosan, Cosan Distribuidora de Combust&#237;veis Ltda. (a company which has been further merged into Cosan S.A.), the Company, Ispagnac Participa&#231;&#245;es</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ltda.,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ra&#237;zen</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazil</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Holding</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">B.V.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Sugar</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ethanol</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Co.</font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Parties</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the parties to this Agreement from time to time (including any Person who at the relevant time is a party to, or has agreed (by executing a Joinder Agreement) to be bound by this Agreement (and &#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Party</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; shall be construed</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">accordingly).</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Permitted Transferees</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any person to whom or which Cosan or Shell is permitted to transfer its interest, whether directly or indirectly, in the Joint Venture, pursuant to the Joint Venture Agreement.</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.6pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Person</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means an individual, corporation (including a Brazilian </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">sociedade an&#244;nima</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">limited</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">liability</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">company</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(including</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">sociedade</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">limitada</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">firm,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">joint venture, partnership, association, trust or other entity or organization (wherever incorporated),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">including</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">type</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">sociedade</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">empres&#225;ria</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">sociedade</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">simples </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or any other entity regulated by Articles 40-69 of the Brazilian Civil Code, and including a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Governmental</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Authority</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">political</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">subdivision</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">an</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">agency</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">instrumentality</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">thereof.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Proximity</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Business</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">small</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">non-Shell</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">branded</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">standalone</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">retail</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">stores,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">not following within the definition of Convenience Business, offering a limited range of products usually offered by markets and/or supermarkets for an everyday use. Assortment may also include categories such as: food, tobacco, alcoholic and non-alcoholic beverage products and magazines, as well as everyday items and food services, with extended opening hours.</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Qualifying Person</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any person who has not been convicted of any violation of any Anti-Corruption Law.</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 style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Representatives</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means any of a Person&#8217;s Affiliates and the directors, officers, employees, agents, counsel, investment advisers and financing sources, subject to customary confidentiality obligations of such Person and/or of any of its Affiliates.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">ROSM</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Rubens Ometto Silveira Mello, a Brazilian citizen whose principal business address is located at Av. Brigadeiro Faria Lima, 4100, 16&#186; andar - CEP 04538-132 &#8211; S&#227;o Paulo &#8211; SP, Brazil.</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">SELIC</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the rate assessed by the Brazilian Special Liquidation and Custody System (</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Sistema Especial de Liquida&#231;&#227;o e Cust&#243;dia</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) &#8211; SELIC, published by the Central Bank of Brazil, obtained by calculating the adjusted weighted average rate of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">one- day financing operations, backed by public federal bonds and traded in such</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">system.</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Shareholder</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, at any time, any Person (other than the Company) who shall</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">then</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Party</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">bound</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">for</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">so</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">long</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">as</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">that person</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Beneficially Owns any JV Securities issued by the Company and, for so long as Cosan S.A. and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan Investimentos</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Beneficially</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Own</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">JV</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Securities</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">issued</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">S.A.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and Cosan Investimentos shall be construed as one Shareholder. For the avoidance of doubt, no Non-Party Holder is a Shareholder for the purposes of this</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Shareholders&#8217; Agreement Ra&#237;zen Conveni&#234;ncias</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the shareholders&#8217; agreement of Ra&#237;zen Conveni&#234;ncias S.A., a subsidiary of the Company, entered into on October</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">31,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">2019</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">among</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Company,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">on</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">one</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">side,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Femco</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazil</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Participa&#231;&#245;es Ltda, on the other side, and, further, as Femco Brazil Participa&#231;&#245;es Ltda guarantor and primarily obligor of certain obligations, Femsa Comercio, S.A. de C.V. and, further, as intervening-consenting party, Ra&#237;zen Conveni&#234;ncias</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">S.A.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Shell Brazil Holding B.V., a corporation organized and existing according to the laws of the Netherlands with registered number 27192050 0000, with its principal place of business at 30, Carel van Bylandtlaan, 2596HR 's-Gravenhage, the Netherlands, enrolled with the Brazilian tax registry under No.05.717.887/0001-57.</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 38.75pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Shell Trading</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Shell Western Supply and Trading Limited or any of its Affiliates as it may specify.</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Shell Trading Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means the sale and purchase agreement for biofuels dated on or about June 1, 2011 between the Sugar and Ethanol Co and Shell Trading.</font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">SOFR</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">" means the secured overnight financing rate administered by the Federal Reserve Bank of New York (or any other person which takes over the administration of that rate) published by the Federal Reserve Bank of New York (or any other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">person which takes over the publication of that</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">rate).</font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">SOIBV</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Shell</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Overseas</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Investments</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">B.V.,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">company</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">incorporated</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The Netherlands whose registered office is at Carel van Bylandtlaan 30,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">2596HR-Gravenhage, and with company number 27104660</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">0000.</font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 18.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Subsidiary</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means, in relation to any Person, a Person: (a) which is Controlled, directly or indirectly, by the first mentioned Person; (b) more than half the issued share capital</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">which</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Beneficially</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Owned,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">directly</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">indirectly,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">first</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">mentioned</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Person; or (c) which is a Subsidiary of another Subsidiary of the first mentioned</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Person.</font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 58pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Sugar</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means sugar and sugar by-products.</font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 16.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Sugar and Ethanol Co</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221; means Ra&#237;zen Energia S.A., a company organized and existing under the laws of Brazil, with its head office at Avenida Brigadeiro Faria Lima, 4100, 11</font><font style="font-family: 'Times New Roman'; font-size: 7pt; vertical-align: 4pt;">th </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">floor, parte 05, City of Sao Paulo, State of Sao Paulo, CEP 04538-132, Brazil, enrolled with the Brazilian tax registry under No.08.070.508/0001-78.</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Tax</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">past,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">present</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">future</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">taxes,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">including</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(without</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">limitation)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">IRPJ, CSLL, PIS, COFINS and ICMS and any and all other taxes, surtaxes, additional rates, levies, excise, imposts, duties, charges, contributions, social contributions, contributions on economic domain intervention, charges, tariffs, fees, deductions, or withholdings of whatever nature (including any related fines, penalties, surcharges or interest) that are imposed,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">levied,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">collected,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">withheld,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">assumed,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">assessed</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">payable</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Governmental Authority, and that are levied (without limitation) on income, net worth, revenues,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -1.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">profits, turnover,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">capital</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">gains,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">imports,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">exports,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">services,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">excise,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">royalties,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">ownership</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">transfer of real estate property, donations, bank account deposits and withdrawals, foreign exchange transactions, credit transactions, transactions related to bonds and securities, transactions related to insurance transactions, as well as &#8220;green&#8221; or environmental taxes, value-added taxes, and any and all other transactional or turnover</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">tax.</font></p>
<p style="line-height: 31.9pt; margin: 0.05pt 21.8pt 0pt 58pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Transaction</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Document</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">has</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">forth</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Framework</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement. </font></p>
<p style="line-height: 1.2; margin: 0.05pt 21.8pt 0pt 58pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; line-height: inherit;">Transfer</font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">&#8221; means, with respect to any JV Securities: (a) when used as a verb, </font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.1pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">to&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">sell,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">assign,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">dispose</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">of,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">exchange,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">pledge,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">encumber,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">hypothecate</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">otherwise</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">transfer</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">any JV&nbsp; Securities&nbsp; or&nbsp; any&nbsp; participation&nbsp; or&nbsp; interest&nbsp; therein,&nbsp; whether&nbsp; directly&nbsp; or </font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 2.45pt; line-height: inherit;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; line-height: inherit;">indirectly</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'>18</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(including pursuant to a derivative transaction), or agree or commit to do any of the foregoing; and (b) when used as a noun, a direct or indirect sale, assignment, disposition, exchange, pledge, encumbrance, hypothecation, or other transfer of any JV Securities or any participation or interest therein or any agreement or commitment to do any of the foregoing.</font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 14pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Usufruct</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">Agreement</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">means</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Instrumento</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Particular</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.3pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Reserva</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Onerosa</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">de Usufruto </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">by means of which Cosan S.A. and Cosan Investimentos agreed, among other matters, that Cosan shall have the right of usufruct over the political rights attached to the common shares of the Company held by</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Cosan.</font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 9.5pt;">&nbsp;</font></p>
<p style="margin: 4.6pt 0pt 0pt 58pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Each</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">following</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">terms</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">is</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">defined</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">forth</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">opposite</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">that</font></p>
<p style="margin: 3.3pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">term:</font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 7pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 80%; text-indent: 0px; margin-left: 100px;" width="80%">

<tr style="height: 14.05pt;">
<td style="vertical-align: top; width: 80%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="line-height: 12.2pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; text-decoration: underline;">Term</font></p>
</td>
<td style="vertical-align: top; width: 20%; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="line-height: 12.2pt; margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; text-decoration: underline;">Section</font></p>
</td>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Agreement</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">preamble</font></p>
</td>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Audit Committee</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex G</font></p>
</td>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Business Performance Committee</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex G</font></p>
</td>
</tr>
<tr style="height: 15.95pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">CEO</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.01</font></p>
</td>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">CFO</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.01</font></p>
</td>
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<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Chairperson</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">5.02(a)</font></p>
</td>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">COO (Downstream)</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.01</font></p>
</td>
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<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">COO (Sugar and Ethanol Co)</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.01</font></p>
</td>
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<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">CSR Committee</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex G</font></p>
</td>
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<tr style="height: 15.95pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Direct Report</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.05(c)</font></p>
</td>
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<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Dispute</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">11.08(a)</font></p>
</td>
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<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Executive Board</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.01</font></p>
</td>
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<tr style="height: 15.95pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Finance Committee</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex G</font></p>
</td>
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<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Fiscal Board</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex B</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">H&#233;dera</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">preamble</font></p>
</td>
</tr>
<tr style="height: 15.95pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Interim CEO</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">6.05(b)</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Internal Auditors</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex G</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Joinder Agreement</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex H</font></p>
</td>
</tr>
<tr style="height: 15.95pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Joining Party</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Annex H</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Joint Venture Business</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">8.01</font></p>
</td>
</tr>
<tr style="height: 16pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">Manual of Authorities</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">7.01</font></p>
</td>
</tr>
<tr style="height: 15.95pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">MOU</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; 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'; font-size: 11pt;">11.12</font></p>
</td>
</tr>
<tr style="height: 14.05pt;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="line-height: 11.65pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Post-ROSM Interim CEO</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;">
<p style="line-height: 11.65pt; margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.06(b)</font></p>
</td>
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</table>
<p style="font-size: 7pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
</div>
<p style="font-size: 10pt;"><br></p>
<div style="font-size: 10pt;">
<p style="margin: 0pt; orphans: 0; widows: 0;"><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'>19</font></font></td>
</tr>

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<p><br></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12pt;">&nbsp;</font></p>
<table cellspacing="0" cellpadding="0" style="border-collapse: collapse; margin: 0px 0px 0px 100px; font-family: 'times new roman'; font-size: 10pt; width: 80%; text-indent: 0px; height: 224px;" width="80%">

<tr style="height: 17px;">
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; width: 80%;">
<p style="line-height: 12.2pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Post-ROSM Interim CFO</font></p>
</td>
<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px; width: 20%;">
<p style="line-height: 12.2pt; margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.06(c)</font></p>
</td>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Ra&#237;zen Reorganization</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-family: 'Times New Roman'; font-size: 11pt;">Recitals,</font></p>
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">paragraph K</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Remuneration Committee</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-family: 'Times New Roman'; font-size: 11pt;">Annex G</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Replacement Nominee</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-family: 'Times New Roman'; font-size: 11pt;">5.05(a)</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Rules</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-family: 'Times New Roman'; font-size: 11pt;">11.08(a)</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Senior Management</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-family: 'Times New Roman'; font-size: 11pt;">7.04</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Shareholder Representative</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-family: 'Times New Roman'; font-size: 11pt;">4.01</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Shareholders&#8217; Agreement</font></p>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 20px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Annex H</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Shareholders' Prior Meeting</font></p>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 20px;">
<p style="margin: 0px; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section 3.02</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Supervisory Board</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-family: 'Times New Roman'; font-size: 11pt;">5.01(a)</font></p>
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<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Sustainable Development Remediation Plan</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-family: 'Times New Roman'; font-size: 11pt;">Annex G</font></p>
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<p style="line-height: 11.65pt; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Term</font></p>
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<td style="vertical-align: top; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 17px;">
<p style="line-height: 11.65pt; margin: 0px; text-align: center; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">11.14</font></p>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 12.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 19.05pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Section 1.02</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">. Other Definitional and Interpretative Provisions. </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">A reference to a statutory provision (including, in Brazil, a provision of a </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei Ordin&#225;ria,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Lei</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Complementar,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Decreto,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Decreto-Lei,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Medida</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Provis&#243;ria</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">law</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">under</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Brazilian</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">law),</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">includes</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">a</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">reference</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to: (a)</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">statutory</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">provision as modified or re-enacted or both from time to time (whether before or after the date of this Agreement); and (b) any subordinate legislation made under the statutory provision by any Person (whether before or after the date of this Agreement). A reference to a &#8220;regulation&#8221; includes any regulation, rule, official directive, request, guideline, </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">portaria, regulamento, decreto, resolu&#231;&#227;o, delibera&#231;&#227;o, circular, carta-circular, instru&#231;&#227;o, instru&#231;&#227;o normativa, regimento, ato declarat&#243;rio </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">and/or </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">despacho normativo </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">(whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">any</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">regulatory,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">self-regulatory</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">other</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">authority</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">or</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">organization. The words &#8220;hereof&#8221;, &#8220;herein&#8221; and &#8220;hereunder&#8221; and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">of</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1.45pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">References</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&#8220;globally&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">be</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">deemed</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">include Brazil. The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof. References to Annexes, Articles, Sections, Exhibits and Schedules are to Annexes, Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified. All Annexes, Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Annex, Exhibit or Schedule but not otherwise</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">defined</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">therein,</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">shall</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1.05pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">have</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">the</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">meaning</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">set</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.95pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">forth</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">in</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 0.9pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">this</font><font style="font-family: 'Times New Roman'; font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Agreement.</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'>20</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'Times New Roman'; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 16.95pt 0pt 64pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular. Whenever the words &#8220;include&#8221;, &#8220;includes&#8221; or &#8220;including&#8221; are used in this Agreement, they shall be deemed to be followed by the words &#8220;without limitation&#8221;, whether or not they are in fact followed by those words or words of like import. &#8220;Writing&#8221;, &#8220;written&#8221; and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">terms</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">hereof</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">thereof;</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">respect</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">any agreement or contract listed on any schedules hereto, all such amendments, modifications or supplements must also be listed in the appropriate schedule. References to any Person or a Party include the legal personal representatives, Affiliate(s), successors or Permitted Transferees of that Person or Party. References to &#8220;Persons acting in concert&#8221; means, in relation to a Person, Persons which actively co-operate, pursuant to an agreement or understanding (whether formal or informal) with a view to obtaining or consolidating Control of that Person.</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">References</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">&#8220;he&#8221;</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">&#8220;him&#8221;</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">deemed</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">refer,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">addition,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">&#8220;she&#8221; and &#8220;her&#8221;, respectively. References from or to any date mean, unless otherwise specified,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">from</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">including</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">but</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">excluding,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">respectively</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">time</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">day is a reference to S&#227;o Paulo, Brazil time. References to &#8220;company&#8221;, &#8220;corporation&#8221; or &#8220;entity&#8221; include a reference to any association, partnership or business entity (of whatever form) in any jurisdiction (including Brazilian </font><font style="font-size: 11pt; font-style: italic;">sociedades empres&#225;rias </font><font style="font-size: 11pt;">and </font><font style="font-size: 11pt; font-style: italic;">sociedades simples</font><font style="font-size: 11pt;">). References to an &#8220;agreement&#8221; means in relation to that agreement, that agreement as amended from time to time. Italicized terms in parenthesis denote the Portuguese language words for names, concepts and other terms applicable in</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Brazil.</font></font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 15pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 184.35pt 0pt 184.4pt; orphans: 0; text-align: center; text-indent: 0.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ARTICLE 2 </font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 184.35pt 0pt 184.4pt; orphans: 0; text-align: center; text-indent: 0.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">B</font><font style="font-size: 9pt;">OUND </font><font style="font-size: 11pt;">S</font><font style="font-size: 9pt;">HARES</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.8pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">2.01.</font><font style="font-size: 11pt; letter-spacing: 1.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">Bound</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt; font-style: italic;">Shares</font><font style="font-size: 11pt;">.</font><font style="font-size: 11pt; letter-spacing: 1.4pt;"> </font><font style="font-size: 11pt;">This</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">bind</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">all</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Securities currently owned, directly or indirectly, by the Parties, as well as JV Securities issued by the Company that are subscribed or purchased or in any other way acquired by any of the Parties, their successors or Permitted Transferees, during the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">term</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Agreement,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">including,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">but</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">limited</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">stock</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">dividends</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">deriving from dividend distributions, splitting, reverse splitting, or any shares, quotas or securities received by the Parties in exchange to or substitution of their JV Securities,</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">virtue</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">connection</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">merger</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">reorganization</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">the Company or</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">otherwise.</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>21</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 184.85pt 0pt 183.9pt; orphans: 0; text-align: center; text-indent: 0.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ARTICLE 3 </font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 183.85pt 0pt 183.9pt; orphans: 0; text-align: center; text-indent: 0.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">S</font><font style="font-size: 9pt;">HAREHOLDERS</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.01</font><font style="font-size: 11pt; font-style: italic;">. General Meetings. </font><font style="font-size: 11pt;">The Company will hold an annual General</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">all</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">shareholders</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">within</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">first</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">four</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">(4)</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">months</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">after</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">close of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">fiscal</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">year</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">extraordinary</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">required</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">under</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the Company&#8217;s Byelaws or Brazilian Corporation Law, and (ii) otherwise whenever the Company&#8217;s business so requires. Any General Meeting shall be governed by the Company&#8217;s Byelaws and Brazilian Corporation</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Law.</font></font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 12pt; line-height: 126%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.02</font><font style="font-size: 12pt;">. </font><font style="font-size: 11pt; font-style: italic;">Shareholders' Prior Meetings</font><font style="font-size: 11pt;">. In case: (a) any of the Shareholders wishes to call a meeting between the Shareholders, including to resolve</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">upon</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">matters</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">(x)</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.3pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">B</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">(y)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">D</font><font style="font-size: 11pt;"> or are otherwise reasonably likely to be considered by the Supervisory Board; or (b) a General Meeting is called by any Non-Party Holder, the Supervisory Board or any other body of the Company as provided under the Company&#8217;s Byelaws</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Brazilian</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Corporation</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Law,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">hold</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">meeting of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shareholders,</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Company&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">headquarters</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">place</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may be agreed upon in writing by the Shareholders (a "</font><font style="font-size: 11pt; font-weight: bold;">Shareholders' Prior Meeting</font><font style="font-size: 11pt;">"), prior to, if applicable, the relevant General Meeting or relevant meeting of the Supervisory Board to discuss and resolve upon the relevant matters.</font></font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">A Shareholders' Prior Meeting may be called by any Shareholder and shall be held within fifteen (15) days of such call notice. Subject to </font><font style="font-size: 11pt;">Section 3.02</font><font style="font-size: 11pt;">(f), the call notice shall be deemed to be withdrawn, and the Shareholders' Prior Meeting shall not be held, if the Shareholders, prior to the date of such Shareholders' Prior Meeting, resolve in writing in respect of the matters proposed for discussion</font><font style="font-size: 11pt; letter-spacing: -0.95pt;"> </font><font style="font-size: 11pt;">therein.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 6.25pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The call notice in respect of any Shareholder's Meeting shall set out (i) the matters to be decided upon therein (which, if the Shareholders' Prior Meeting is called in advance of a General Meeting or a meeting of the Supervisory Board, will include the matters to be decided upon at that General Meeting or meeting of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">Board),</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii) the proposed date, time and location of the Shareholders' Prior Meeting, including applicable documents and details for videoconference or teleconference facilities which shall be made available in respect of each Shareholders' Prior</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Meeting.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 6.05pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The Company shall cooperate with any Shareholder which is seeking to issue a call notice for or attending a Shareholders' Prior Meeting, including by supplying any</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">information</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">materials</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">requests</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">(acting</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">reasonably).</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Parties shall</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">procure</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">and,</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">without</font><font style="font-size: 11pt; letter-spacing: 0.45pt;"> </font><font style="font-size: 11pt;">limiting</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">foregoing,</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">ensure,</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">the</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 6.05pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;"><br></font></font></p>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>22</font></font></td>
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<p><br></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">purposes of preparing a call notice in respect of a Shareholders' Prior Meeting which is being called to resolve upon matters which shall subsequently be subject of a General Meeting, the information and materials in respect of such matters which would be issued to the Shareholders and Non-Party Holders prior to the General Meeting are also issued</font><font style="font-size: 11pt; letter-spacing: -1.8pt;"> </font><font style="font-size: 11pt;">to the Shareholders prior to the Shareholders' Prior Meeting. Nothing in this paragraph will require the Company to act in contravention of another provision of this Agreement, its Byelaws or applicable</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">law.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 6.35pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Each Shareholders' Prior Meeting will be instated, on the first call and the second call, with the attendance of all Shareholders. If one or more Shareholders fail to attend the Shareholders' Prior Meeting on the second call, all Shareholders shall, as the case may</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">be:</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 5.9pt 21.7pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 43.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">vote (or cause its representative to vote), at the corresponding General Meeting the subject(s) of which were purported to be discussed and resolved upon at such Shareholders' Prior Meeting, in the manner necessary to maintain</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Company's</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">status</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">quo</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">(as</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">time</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">immediately</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">prior</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">General Meeting</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">determined</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">reference</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">then-current</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Business</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Plan)</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">respect of such subject(s), and in no event shall matters set forth in </font><font style="font-size: 11pt; text-decoration: underline;">Annex B</font><font style="font-size: 11pt;"> be voted on at such Shareholders' Prior Meeting;</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">procure that the Qualifying Persons appointed by it to the Supervisory Board vote, at the corresponding meeting of the Supervisory Board the subject(s) of which were purported to be discussed and resolved upon at such Shareholders' Prior Meeting, in the manner necessary to maintain the Company's status quo (as at the time immediately prior to the meeting of the Supervisory Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">determined</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">reference</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">then-current</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Business</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Plan)</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">respect</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of such</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">subject(s).</font></font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">The approval of any of the matters listed in </font><font style="font-size: 11pt; text-decoration: underline;">Annex B</font><font style="font-size: 11pt;"> hereto shall, at any Shareholders&#8217; Prior Meeting whether on first or second call, require the affirmative vote of Shareholders holding at least 75% of the Company&#8217;s total voting capital. The resolutions approved at any Shareholders&#8217; Prior Meeting shall be recorded in minutes to be prepared by the Shareholders and delivered to the chairperson of the Supervisory Board prior to the corresponding</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">meeting</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(as</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">case</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">may be) for purposes of the Brazilian Corporation</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Law.</font></font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If a matter is resolved upon or determined in a Shareholders' Prior Meeting (whether</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">approved</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">approved),</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall:</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in which such matter is considered, exercise their votes in accordance with that resolution</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">or</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'>23</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">determination and (ii) at any meeting of the Supervisory Board in which such matter is considered,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">cause</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Qualifying</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Persons</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">appointed</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">it</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">who attend</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">relevant</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">meeting</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">thereof</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">exercise</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">votes</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">resolution or determination. If any matter has not been approved at a Shareholders' Prior Meeting pursuant to this Agreement, each Shareholder undertakes not to call a General Meeting to resolve</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">matter,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">or,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">was</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">called</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Non-Party</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Holder</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">other third</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">party,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">cause</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">representative</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">manner necessary to maintain the Company&#8217;s status quo (as at the time immediately prior to the General</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">determined</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">reference</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">then-current</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Business</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Plan)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">respect of such</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">matter.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 5.35pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(f)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If a matter is resolved upon or determined in a Shareholders' Prior Meeting and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">matter</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">need</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">resolved</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">upon</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">prior</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">implementation pursuant to </font><font style="font-size: 11pt;">Section 3.01</font><font style="font-size: 11pt;">, Cosan and Shell shall cause the Supervisory Board to effect or implement such resolution or determination in respect of the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">matter.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 6.3pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(g)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If the Shareholders reach a deadlock in any discussion, the Shareholders agree to follow the procedure set forth in </font><font style="font-size: 11pt;">Article 4 </font><font style="font-size: 11pt;">of this</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Agreement.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 6.05pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.03</font><font style="font-size: 11pt; font-style: italic;">. Supervisory Board and Executive Board. </font><font style="font-size: 11pt;">Each of Cosan and Shell shall vote its JV Securities or execute proxies or written consents, as the case may be, and take all other necessary action (including causing the Company</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">call</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Shareholders'</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Prior</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">special</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Meeting) in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">order</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">ensure</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">composition</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">identity of the Chairperson) is as set forth in this Agreement. Each of Cosan and Shell shall cause its nominees to the Supervisory Board to take all necessary action to ensure that the composition of the Executive Board is as set forth in this Agreement.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 5.3pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.04</font><font style="font-size: 11pt; font-style: italic;">. Byelaw Provisions. </font><font style="font-size: 11pt;">(a) Each Shareholder agrees to vote&nbsp; its JV Securities or execute proxies or written consents, as the case may be, and to take all other actions necessary: (i) to ensure that the Company&#8217;s Byelaws facilitate, and do not at any time conflict with, any provision of this Agreement, and</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">permit</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">receive</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">benefits,</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">exercise</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">rights, to which each such Shareholder is entitled under this</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Agreement.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 5.8pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b) </font><font style="font-size: 11pt;">The Company&#8217;s Byelaws or policies shall provide for indemnification&nbsp; of&nbsp; each member of the Supervisory Board and the Executive Board for acts on behalf of the Company to the maximum extent permitted by applicable</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">law.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 5.8pt 21.95pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.05</font><font style="font-size: 11pt; font-style: italic;">. Shareholders. </font><font style="font-size: 11pt;">Cosan and Shell shall use their respective (direct</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">indirect)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">shareholder</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">votes</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">holding</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">company)</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">which they Beneficially Own, to procure that the Company shall fully comply with the terms of this Agreement, as further set forth in Article 118 of the Brazilian Corporation Law.</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.06. </font><font style="font-size: 11pt; font-style: italic;">JV Entities Byelaw Provisions</font><font style="font-size: 11pt;">. The Company shall vote the shares that it holds in any JV Entity, and shall procure that each JV Entity shall vote the shares that it holds in any other JV Entity, or execute (or procure the execution of) proxies or written consents, as the case may be, and to take all other actions necessary: (i) to ensure that the Byelaws of the relevant JV Entity facilitate, and do not at any time conflict with, any provision of this Agreement, and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">permit</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">receive</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">benefits,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">exercise</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">rights, to which each such Shareholder is entitled under this</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Agreement.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.35pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 3.07 . </font><font style="font-size: 11pt; font-style: italic;">Use of votes</font><font style="font-size: 11pt;">. The Company shall use (and shall procure that each other JV Entity uses) its (direct or indirect) shareholder votes in a JV Entity which they Beneficially Own, to procure that the JV Entity shall fully comply</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">terms</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Agreement,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">further</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Article</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">118</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the Brazilian Corporation</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Law.</font></font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 184.85pt 0pt 183.9pt; text-indent: 49.3pt; text-align: center;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ARTICLE 4</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 184.85pt 0pt 183.9pt; text-indent: 49.3pt; text-align: center;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;"> S</font><font style="font-size: 9pt;">HAREHOLDER </font><font style="font-size: 11pt;">R</font><font style="font-size: 9pt;">EPRESENTATIVES</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.9pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 4.01</font><font style="font-size: 11pt; font-style: italic;">. Shareholder Representatives. </font><font style="font-size: 11pt;">Each of Cosan and Shell shall appoint one of its respective senior executives as a shareholder representative of that party in respect of the Joint Venture (each such individual, a &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Shareholder Representative</font><font style="font-size: 11pt;">&#8221;).</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 4.02</font><font style="font-size: 11pt; font-style: italic;">. Meetings of the Shareholder Representatives. </font><font style="font-size: 11pt;">The two Shareholder Representatives shall meet at such times as may be requested by either Shareholder Representative, by Cosan or Shell or the Supervisory Board, but</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">only</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">resolve</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">deadlock</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">at a</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Shareholders&#8217;</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Prior</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Meeting</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">level of the Supervisory Board over any matters set forth in </font><font style="font-size: 11pt; text-decoration: underline;">Annex B</font><font style="font-size: 11pt;"> or </font><font style="font-size: 11pt; text-decoration: underline;">Annex D</font><font style="font-size: 11pt;">, respectively, (ii) to resolve any other matter as the Supervisory Board may approve for referral to the Shareholder Representatives or (iii) to resolve any matter as requested by Cosan or Shell pursuant to the Joint Venture Agreement. All meetings of the Shareholder Representatives shall take place at a location or via teleconference or videoconference as may be mutually agreed upon by the Shareholder Representatives. Cosan and Shell shall procure that the Shareholder Representatives shall seek to resolve any matter referred to them within a period of 20 Business Days from the date that either of the Shareholders or the Supervisory Board, as the case may be, refers such matter to the Shareholder Representatives.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;"><br></font></font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.55pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 4.03</font><font style="font-size: 11pt; font-style: italic;">. Actions by the Shareholder Representatives. </font><font style="font-size: 11pt;">Actions or decisions</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Representatives</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">require</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">agreement</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">both Shareholder Representatives. Cosan and Shell shall cause: (i) a Shareholders' Prior Meeting to be called to approve any decision of the Shareholder Representatives which must be approved by vote of the Shareholders or by the Supervisory Board, and/or (ii) if required under the Company&#8217;s Byelaws or Brazilian Corporation Law in respect of a decision of the Shareholder Representatives, a General Meeting or a meeting of the Supervisory Board, as applicable, to be called in order for the Shareholders (and, if applicable, Non- Party Holders) or the Supervisory Board (as applicable) to resolve to implement and effect such decision. If the Shareholder Representatives are unable to reach a joint decision, such decision shall not be taken or effected, and the </font><font style="font-size: 11pt; font-style: italic;">status quo </font><font style="font-size: 11pt;">shall prevail.</font></font></p>
<p style="line-height: 11.8pt; margin: 0pt 0pt 0pt 100.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 4.04</font><font style="font-size: 11pt; font-style: italic;">. Expenses of the Shareholder Representatives. </font><font style="font-size: 11pt;">Each of (x)</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.4pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">(y)</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">pay,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">respectively,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">all</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">reasonable</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">out-of-pocket</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">expenses incurred by the Shareholder Representative nominated by it, in connection with the attendance of any meetings or the carrying out of any duties in such capacity as its Shareholder Representative.</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 170.95pt 0pt 171.2pt; orphans: 0; text-align: center; text-indent: -0.15pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ARTICLE 5</font><font style="font-size: 11pt;"> </font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 170.95pt 0pt 171.2pt; orphans: 0; text-align: center; text-indent: -0.15pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">S</font><font style="font-size: 9pt;">UPERVISORY </font><font style="font-size: 11pt;">B</font><font style="font-size: 9pt;">OARD</font></font></p>
<p style="margin: 0.2pt 0pt 0pt 100.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.01</font><font style="font-size: 11pt; font-style: italic;">. Composition of the Supervisory Board.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.3pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The Company shall have a supervisory board (</font><font style="font-size: 11pt; font-style: italic;">Conselho de</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.95pt;"> </font><font style="font-size: 11pt; font-style: italic;">Administra&#231;&#227;o</font><font style="font-size: 11pt;">) (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Supervisory</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt; font-weight: bold;">Board</font><font style="font-size: 11pt;">&#8221;).</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The Supervisory Board shall have a minimum of eight and a maximum of fourteen voting members. Except in the circumstances to which </font><font style="font-size: 11pt;">Section 5.01</font><font style="font-size: 11pt;">(f) </font><font style="font-size: 11pt;">refers, the Supervisory Board shall have eight voting members</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">comprising:</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.2pt 21.75pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 43.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">three Qualifying Persons designated by Cosan in its sole discretion;</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">one</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">three</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">ROSM</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">while</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">he</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Deceased or Disqualified (each as defined in the Joint Venture Agreement) and (subject to </font><font style="font-size: 11pt;">Section 5.02(c)</font><font style="font-size: 11pt;">) willing to serve as a member of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Board;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 76.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">three</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Qualifying</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Persons</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">designated</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">sole</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">discretion, who shall each serve, subject to Sections </font><font style="font-size: 11pt;">5.04 </font><font style="font-size: 11pt;">and </font><font style="font-size: 11pt;">5.05, </font><font style="font-size: 11pt;">for a term of two years;</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="line-height: 11.2pt; margin: 0pt 0pt 0pt 130.05pt; orphans: 0; text-align: justify; text-indent: -36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 12pt;">(iii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">two independent members appointed in accordance with</font><font style="font-size: 11pt; letter-spacing: 0.95pt;"> </font><font style="font-size: 11pt;">Section</font></font></p>
<p style="margin: 0pt 21.9pt 0pt 58pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">5.01</font><font style="font-size: 11pt;">(e),</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">avoidance</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">doubt</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">bound</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">provisions</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of this Agreement</font><font style="font-size: 12pt;">.</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 22pt 0pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Subject to applicable law, there shall be no restriction on (i) Cosan, or (ii) Shell re-designating any existing member of the Supervisory Board for any subsequent term of office.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">agree</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">waive</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">fullest</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">extent</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">possible,</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">undertake to</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">refrain</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">from</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">requesting</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">adoption</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">cumulative</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">voting</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">procedure</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(</font><font style="font-size: 11pt; font-style: italic;">voto</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; font-style: italic;">m&#250;ltiplo</font><font style="font-size: 11pt;">) and/or the election by the special separate voting procedure (</font><font style="font-size: 11pt; font-style: italic;">elei&#231;&#227;o em separado</font><font style="font-size: 11pt;">), if and when applicable, and further undertake to exercise their voting rights in any such election to give effect to the provisions of this </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">5.01.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Each of Cosan and Shell shall designate one independent member of the Supervisory Board, provided such person is independent pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and B3. If one or more Non-Party Holders elect a member to the Supervisory Board in accordance with the Brazilian</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Corporation</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Law,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">independent</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Supervisory Board</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">(pursuant</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">regulatory</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">requirements</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">issued</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">de</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; font-style: italic;">Valores</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">Mobili&#225;rios</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.4pt 22.05pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">&#8211; CVM </font><font style="font-size: 11pt;">and B3), then Cosan and Shell shall jointly designate the remaining independent member to complete the Supervisory Board. If the Shareholders are unable to agree on an independent member for a period of 30 days, then:</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.2pt 21.85pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 43.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">each Shareholder shall propose two candidates to be designated an independent member of the Supervisory Board (provided such persons are independent pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and B3), which persons may be vetoed by the other Shareholder (but solely for reasons related to such person&#8217;s qualifications, experience, track record, personal profile or his or her failure to satisfy the requirement of independence pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">B3);</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.4pt 21.9pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">if the candidates proposed by a Shareholder are vetoed pursuant to paragraph (i) above, such Shareholder may propose additional candidates until the Shareholders have agreed on two mutually agreeable candidates;</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 37.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(iii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the Shareholder that has not appointed the Chairperson shall choose one of the proposed candidates and each Shareholder shall vote its JV Securities in order to elect such person as an independent member of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(f)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">one</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">more</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Non-Party</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Holders</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">elect</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Brazilian</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Corporation</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Law,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">independent member of the Supervisory Board (pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and B3), then Cosan and Shell shall take all necessary action to promptly increase the number of voting members of the Supervisory Board to fourteen, which will then be comprised as</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">follows:</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="margin: 4.6pt 0pt 0pt 130.05pt; orphans: 0; text-align: justify; text-indent: -28.6pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the member designated by the Non-Party</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Holders;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.3pt 21.8pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.45pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">five</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Qualifying</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Persons</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">designated</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">sole</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">discretion; provided that one of such five shall be ROSM while he is not Deceased or Disqualified (each as defined in the Joint Venture Agreement) and (subject to </font><font style="font-size: 11pt;">Section 5.02(c)</font><font style="font-size: 11pt;">) willing to serve as a member of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Board;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.3pt 21.85pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 37.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(iii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">five Qualifying Persons designated by Shell in its sole discretion, who shall each serve, subject to Sections </font><font style="font-size: 11pt;">5.04 </font><font style="font-size: 11pt;">and </font><font style="font-size: 11pt;">5.05, </font><font style="font-size: 11pt;">for a term of two years; and</font></font></p>
<p style="margin: 0.2pt 0pt 0pt 130.05pt; orphans: 0; text-align: justify; text-indent: -34.1pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(iv)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">three independent members, provided that Cosan and Shell</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">shall:</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 3.35pt 21.7pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 0pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(x)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp; </font><font style="font-size: 11pt;">each designate one independent member of the Supervisory Board, provided such person is independent pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and B3; and (y) jointly designate the remaining independent member to complete the Supervisory Board. If the Shareholders are unable to agree on an independent member for a period of 30 days,</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">then:</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.75pt 0pt 97.75pt; orphans: 0; text-align: justify; text-indent: 42.2pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; letter-spacing: -0.1pt;">(A)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">each Shareholder shall propose two candidates to be designated an independent member of the Supervisory Board (provided such persons are independent pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and B3), which persons may be vetoed by the other Shareholder (but solely for reasons related</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">person&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">qualifications,</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">experience,</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">track</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">record,</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">personal profile or his or her failure to satisfy the requirement of independence pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: 0.05pt;"> </font><font style="font-size: 11pt;">B3);</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 97.75pt; orphans: 0; text-align: justify; text-indent: 42.8pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; letter-spacing: -0.1pt;">(B)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">if the candidates proposed by a Shareholder are vetoed pursuant to paragraph (A) above, such Shareholder may propose additional</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">candidates</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">until</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">have</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">agreed</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">two</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">mutually agreeable candidates; and</font></font></p>
<p style="font-size: 11pt; line-height: 125%; margin: 0pt 21.95pt 0pt 97.75pt; orphans: 0; text-align: justify; text-indent: 41.5pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 12pt; letter-spacing: -0.1pt;">(C)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the Shareholder that has not appointed the Chairperson shall choose one of the proposed candidates and each Shareholder shall vote</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Securities</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">order</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">elect</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">person</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">third</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">independent member of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.02</font><font style="font-size: 11pt; font-style: italic;">. Chairperson.</font><font style="font-size: 11pt; font-style: italic;"> </font><font style="font-size: 11pt;">(a) Subject to Section </font><font style="font-size: 11pt;">5.02(b)</font><font style="font-size: 11pt;"> the Shareholders shall appoint ROSM as the chairperson of the Supervisory Board (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Chairperson</font><font style="font-size: 11pt;">&#8221;) and shall vote to ensure he is maintained in such position so long as he is willing to serve and neither Deceased nor Disqualified (each as defined in the Joint Venture Agreement) but only for so long as he retains a</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.95pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">Controlling Interest (directly or indirectly) over Cosan&#8217;s interest in the Joint Venture.</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If ROSM is determined Deceased or Disqualified (each as defined in the Joint Venture Agreement) in accordance with the provisions of the Joint Venture Agreement or, subject to </font><font style="font-size: 11pt;">Section 5.02</font><font style="font-size: 11pt;">(c)</font><font style="font-size: 11pt;">, if ROSM is no longer willing to serve as the Chairperson, whichever is earlier, the right of Cosan and Shell to appoint the Chairperson shall alternate between Cosan and Shell for three year periods. For the initial three year period, Shell will appoint the</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Chairperson.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.35pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If ROSM is no longer willing to serve as the Chairperson (and has not</font><font style="font-size: 11pt; letter-spacing: -1.45pt;"> </font><font style="font-size: 11pt;">been determined</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Disqualified</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Deceased</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(each</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">defined</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Agreement),</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">he must provide notice to the Company in writing no less than six months&#8217; prior to the date on which he intends to stand down as</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Chairperson.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">responsibilities</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Chairperson</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.35pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">C</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">hereto.</font><font style="font-size: 11pt; letter-spacing: 1.95pt;"> </font><font style="font-size: 11pt;">The Chairperson</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">have</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">casting</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">tie-breaking</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">event</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">deadlock</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">amongst the members of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.03</font><font style="font-size: 11pt; font-style: italic;">. Supervisory Board Members. </font><font style="font-size: 11pt;">Each of Cosan and Shell will (i) procure that all members of the Supervisory Board shall comply with all applicable law in relation to their eligibility to serve as members of the Supervisory Board and (ii) without limiting the foregoing, promptly replace members appointed by it as independent members of the Supervisory Board if such persons cease to be independent pursuant to the regulatory requirements issued by </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios &#8211; CVM </font><font style="font-size: 11pt;">and B3. The Company and each Shareholder will procure that all members of the supervisory board (or equivalent body) of each JV Entity (other than the Company) shall comply with all applicable law in relation to their eligibility to serve as members of that supervisory board (or equivalent body).</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.3pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.04</font><font style="font-size: 11pt; font-style: italic;">. Removal of the Supervisory Board Members. </font><font style="font-size: 11pt;">(a) Each of Cosan</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">agrees</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">that,</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">time</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">it</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">then</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">entitled</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">removal of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">from</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Board,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">it</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Securities in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">favour</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">removal</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">who</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">have</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">been</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">designated</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">pursuant to </font><font style="font-size: 11pt;">Section 5.01</font><font style="font-size: 11pt;"> or </font><font style="font-size: 11pt;">Section 5.05,</font><font style="font-size: 11pt;"> unless the Person entitled to designate or nominate that member shall have consented to his or her removal in writing; </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">that,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Person</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">entitled</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">designate</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">pursuant</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Section</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">5.01</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">request</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">removal</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">member,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall vote its JV Securities in favour of such</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">removal.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b) </font><font style="font-size: 11pt;">If a Shareholder ceases to hold any Company Securities, such Shareholder shall procure the resignation of, or remove from office, any members of the Supervisory</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 0pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">Board nominated by such Shareholder, at the time of, or immediately prior to, the time at which it ceases to hold Company Securities.</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.3pt 21.65pt 0pt 64pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times; font-size: 11pt; orphans: 0; widows: 0;"><font>Section 5.05</font><font>. Vacancies on the Supervisory Board. </font><font>If there shall</font><font> </font><font>be</font><font> </font><font>any vacancy</font><font> </font><font>on</font><font> </font><font>the</font><font> </font><font>Supervisory</font><font> </font><font>Board</font><font> </font><font>(as</font><font> </font><font>a</font><font> </font><font>result</font><font> </font><font>of</font><font> </font><font>death,</font><font> </font><font>disability,</font><font> </font><font>retirement, resignation, removal or otherwise): </font><font>(a) the Person or Persons</font><font> </font><font>entitled</font><font> </font><font>under </font><font>Section</font><font> </font><font>5.01</font><font> </font><font>to</font><font> </font><font>designate</font><font> </font><font>the</font><font> </font><font>member</font><font> </font><font>whose</font><font> </font><font>death,</font><font> </font><font>disability,</font><font> </font><font>retirement, resignation</font><font> </font><font>or</font><font> </font><font>removal</font><font> </font><font>resulted</font><font> </font><font>in</font><font> </font><font>that</font><font> </font><font>vacancy,</font><font> </font><font>subject</font><font> </font><font>to</font><font> </font><font>the</font><font> </font><font>provisions</font><font> </font><font>of </font><font>Section</font><font> </font><font>5.01</font><font>,</font><font> </font><font>may</font><font> </font><font>designate</font><font> </font><font>another</font><font> </font><font>individual</font><font> </font><font>(for</font><font> </font><font>the</font><font> </font><font>purposes</font><font> </font><font>of</font><font> </font><font>this</font><font> </font><font>Article</font><font> </font><font>5,</font><font> </font><font>the</font><font> </font><font>&#8220;</font><font>Replacement</font><font> </font><font>Nominee</font><font>&#8221;)</font><font> </font><font>to</font><font> </font><font>fill</font><font> </font><font>that</font><font> </font><font>vacancy</font><font> </font><font>and</font><font> </font><font>serve</font><font> </font><font>as</font><font> </font><font>a</font><font> </font><font>member</font><font> </font><font>of the Supervisory Board; and (b) subject to </font><font>Section 5.01</font><font>, each of Cosan</font><font> </font><font>and</font><font> </font><font>Shell shall</font><font> </font><font>procure</font><font> </font><font>that</font><font> </font><font>the</font><font> </font><font>Replacement</font><font> </font><font>Nominee</font><font> </font><font>is</font><font> </font><font>elected</font><font> </font><font>to</font><font> </font><font>the</font><font> </font><font>Supervisory</font><font> </font><font>Board.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.3pt 21.65pt 0pt 64pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times; font-size: 11pt; orphans: 0; widows: 0;"><font>Section 5.06. Meetings of the Supervisory Board.&nbsp;The Supervisory&nbsp;</font><font>Board shall hold a meeting at least once every calendar quarter and at any other time as may be requested by any four members of the Supervisory Board or the Chairperson. Meetings shall be held at the headquarters of the Company or as may otherwise be agreed by the Supervisory Board. Any member of the Supervisory Board may attend any meeting via teleconference or videoconference.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 18.3pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Subject to the provisions of this Agreement, the Company&#8217;s Byelaws and all applicable law, the members of the Supervisory Board may regulate their proceedings as they think fit. Every member of the Supervisory Board shall receive notice of a meeting at least 30 Business Days for regularly scheduled meetings, 5 Business Days for </font><font style="font-size: 11pt; font-style: italic;">ad hoc </font><font style="font-size: 11pt;">meetings (including meetings to appoint (i) the Interim CEO (as defined below) pursuant to</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">6.05(b),</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Post-ROSM</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">(as</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">defined</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">below)</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">pursuant</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> 6.06</font><font style="font-size: 11pt;">(b), (iii) the Post-ROSM Interim CFO (as defined below) pursuant to </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(c), or (iv) the CEO or CFO (as applicable) pursuant to </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(a) and/or </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d) (as applicable)) (and at least 3 Business Days&#8217; notice for </font><font style="font-size: 11pt; font-style: italic;">ad hoc </font><font style="font-size: 11pt;">meetings where any 3 members</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Chairperson</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">reasonably</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">consider</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">matter(s) to</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">discussed</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">commercially</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">urgent</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">nature)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">before</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">intended</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">date</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">meeting. Notice of a meeting of the Supervisory Board is deemed to be duly given to a member of the Supervisory Board if it is sent in writing to him at his last known address or other address</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">given</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">him</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">purpose</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">given</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">him</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">electronic</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">means to an address given by him to the Company for that purpose. The notice shall state the time, date, place and agenda of the meeting, attaching copies, where possible, of the documents</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">proposals</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">considered</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">discussed.</font><font style="font-size: 11pt; letter-spacing: 1.25pt;"> </font><font style="font-size: 11pt;">A</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board may waive the requirement that notice be given to him of a meeting of directors or a committee</font><font style="font-size: 11pt; letter-spacing: 1.05pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">directors,</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">either</font><font style="font-size: 11pt; letter-spacing: 1.15pt;"> </font><font style="font-size: 11pt;">prospectively</font><font style="font-size: 11pt; letter-spacing: 1.05pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">retrospectively,</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">requirement</font><font style="font-size: 11pt; letter-spacing: 1.05pt;"> </font><font style="font-size: 11pt;">for</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 22.1pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">notice</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">can</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">dispensed</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">all</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">present</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the meeting.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">cause</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">maintained</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">minutes of all meetings of the Supervisory Board, and of all meetings of all committees of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.2pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The formal language of any meeting of the Supervisory Board shall be English (with contemporaneous interpretation into Portuguese at the request of any member of the Supervisory Board); </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that the minutes of the meetings shall be in English and Portuguese (but the Portuguese shall</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">prevail).</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.2pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.07</font><font style="font-size: 11pt; font-style: italic;">. Proxies for Supervisory Board Members. </font><font style="font-size: 11pt;">Any member of the Supervisory Board may appoint any existing member thereof who is willing to act, without the approval of the other members of the Supervisory Board, to attend</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">meetings</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">instructions</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">appointing member of the Supervisory Board. Such appointor may remove from office any such proxy so appointed by him. Any member of the Supervisory Board voting by</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">proxy</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">formalize</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">his</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">letter,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">facsimile</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">e-mail</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">promptly following the meeting at which the vote was cast by his proxy. Such letter, facsimile or e-mail shall be recorded in the book of minutes of meetings of the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.6pt 21.6pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.08</font><font style="font-size: 11pt; font-style: italic;">. Quorum of the Supervisory Board. </font><font style="font-size: 11pt;">The quorum of the Supervisory Board shall be six members of the Supervisory Board (if the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">comprises</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">eight</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">members)</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">ten</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Supervisory Board (if the Supervisory Board comprises fourteen members), provided in each case that the members in attendance include at least two Qualifying Persons designated by Shell and at least two Qualifying Persons designated by Cosan. A person voting as a proxy for a member of the Supervisory Board shall, if his appointor is not present, be counted in his own capacity and in his capacity as a proxy</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">determining</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">whether</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">requisite</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">number</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">attendance in</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">aggregate,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-weight: bold; text-decoration: underline;">but</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.65pt; text-decoration: underline;"> </font><font style="font-size: 11pt; font-weight: bold; text-decoration: underline;">not</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.7pt; text-decoration: underline;"> </font><font style="font-size: 11pt; font-weight: bold; text-decoration: underline;">for</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">determining</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">whether</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">requisite</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">number</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Qualifying Persons designated by Shell or Cosan are in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">attendance.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">5.09</font><font style="font-size: 11pt; font-style: italic;">.</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 1.45pt;"> </font><font style="font-size: 11pt; font-style: italic;">Action</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">by</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt; font-style: italic;">the</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">Supervisory</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt; font-style: italic;">Board.</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 1.55pt;"> </font><font style="font-size: 11pt;">Part</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">1</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.65pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">D</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">hereto sets forth the functions of the Supervisory Board. Subject to applicable law, all actions of the Supervisory Board (including in respect of the matters set forth in Part 2 of </font><font style="font-size: 11pt; text-decoration: underline;">Annex D</font><font style="font-size: 11pt;">) shall require the affirmative vote of at least six members of the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(if</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">comprises</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">eight</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">members)</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">at least</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">ten</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">(if</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">comprises fourteen</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">members),</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">case</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">meeting</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">quorum</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">present.</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">If</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the Supervisory</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">cannot</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">reach</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">decision</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">respect</font><font style="font-size: 11pt; letter-spacing: 0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">matter</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">in</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 22.05pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; text-decoration: underline;">Annex D</font><font style="font-size: 11pt;">, such decision will be referred to the Shareholder Representatives for resolution pursuant to </font><font style="font-size: 11pt;">Section 4.02 </font><font style="font-size: 11pt;">and </font><font style="font-size: 11pt;">Section 4.03</font><font style="font-size: 11pt;">.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 19.1pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.10</font><font style="font-size: 11pt; font-style: italic;">. Expenses and Compensation of Supervisory Board members. </font><font style="font-size: 11pt;">The Shareholders shall cause the Company to pay all reasonable out- of-pocket expenses incurred by each member of the Supervisory Board in connection with attending regular and special meetings of the Supervisory Board and any committee thereof, in addition to any further compensation for the members of the Supervisory Board that may be approved from time to time by the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(and,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">persons</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">entitled</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">respect</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">matter, the Non-Party Holders) at any General</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Meeting.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.45pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.11</font><font style="font-size: 11pt; font-style: italic;">. Committees. </font><font style="font-size: 11pt;">The Supervisory Board shall create any committees required by any regulation to which the Company is subject to, pursuant to any agreement between Cosan and Shell and may create and operate any other committees as it may determine; </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that the Supervisory Board shall</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">create</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">maintain</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">committees</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">out</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">in,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the provisions of, </font><font style="font-size: 11pt; text-decoration: underline;">Annex G</font><font style="font-size: 11pt;">. Designees of Cosan and Shell shall be entitled to equal representation on any committee of the Supervisory Board. The Company shall ensure that each committee is administered in accordance with paragraph 6 </font><font style="font-size: 11pt; letter-spacing: 0.1pt;">of </font><font style="font-size: 11pt;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">G.</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">No</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">supervisory</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">board</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">equivalent</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">body)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">entity</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(other</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">than the Company shall create any committees.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.7pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 5.12</font><font style="font-size: 11pt; font-style: italic;">. Conflicts of Interest. </font><font style="font-size: 11pt;">(a) Notwithstanding anything in this Agreement</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">contrary,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">another</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Entity</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Indemnified Party (as defined in the Framework Agreement) and brings a Claim (as defined in the Framework Agreement) against a Shareholder who is the Indemnifying Party (as defined in the Framework Agreement), in no event shall the members of the Supervisory Board designated by the Indemnifying Party be entitled to vote on any matters presented to the Supervisory Board with respect to the bringing of such Claim; </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt;">, </font><font style="font-size: 11pt; font-style: italic;">however</font><font style="font-size: 11pt;">, that members of the Supervisory Board designated by the Indemnifying Party shall have the right to participate in any and all discussions concerning such Claim and shall have the opportunity to express their views and opinions with respect to such Claim. The members of the Supervisory Board designated by the Indemnified Party shall have the sole power and authority to vote on all matters with respect to the bringing of such Claim.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.85pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">In the event that any competitively sensitive information is to be discussed or reviewed at any meeting of the Supervisory Board and the participation in any such discussion</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">receipt</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">information</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Board would</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">present</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">conflict</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">interest</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">respect</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">interests</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">who</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.85pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;"><br></font></font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 18.85pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">appointed such member, (ii) would risk placing the Company or another JV Entity in a potentially competitively disadvantaged position or (iii) would reasonably be expected to violate applicable antitrust or competition laws, such member shall be required to recuse himself</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">herself</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">from</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">discussion</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">entitled</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">receive</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">information; </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt;">, </font><font style="font-size: 11pt; font-style: italic;">however, </font><font style="font-size: 11pt;">that, on any vote in respect of any such matter, the other designees to the Supervisory Board of the Shareholder who also designated such member shall be entitled</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">exercise</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">proxy</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">behalf</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">matter.</font><font style="font-size: 11pt; letter-spacing: 1.9pt;"> </font><font style="font-size: 11pt;">In</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">connection with this </font><font style="font-size: 11pt;">Section 5.12(b)</font><font style="font-size: 11pt;">, each member of the Supervisory Board shall certify within 20 Business Days of the end of each fiscal year of the Company of the Sugar and Ethanol Co (as applicable) that he or she has not had access to commercially sensitive information of the JV Entities in the preceding fiscal year in violation of this</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">Section.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.75pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Notwithstanding anything in this Agreement to the contrary, in no event shall</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">designated</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">have</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">right</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to vote on any transactions, actions or agreements between the Company or any of its Subsidiaries, on the one hand, and such Shareholder or any of its Affiliates, on the</font><font style="font-size: 11pt; letter-spacing: -1.25pt;"> </font><font style="font-size: 11pt;">other.</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 176.45pt 0pt 176.6pt; orphans: 0; text-align: center; text-indent: -0.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ARTICLE 6 </font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 176.45pt 0pt 176.6pt; orphans: 0; text-align: center; text-indent: -0.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">E</font><font style="font-size: 9pt;">XECUTIVE </font><font style="font-size: 11pt;">B</font><font style="font-size: 9pt;">OARD</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.2pt 21.6pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.01</font><font style="font-size: 11pt; font-style: italic;">. Executive Board. </font><font style="font-size: 11pt;">The Company shall have an executive board (</font><font style="font-size: 11pt; font-style: italic;">Diretoria</font><font style="font-size: 11pt;">) (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Executive Board</font><font style="font-size: 11pt;">&#8221;). The Executive Board shall consist of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">following</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">voting</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">members:</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">chief</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">executive</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">officer</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">&#8220;</font><font style="font-size: 11pt; font-weight: bold;">CEO</font><font style="font-size: 11pt;">&#8221;);</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(ii) the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">chief</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">financial</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">officer</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">(the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">&#8220;</font><font style="font-size: 11pt; font-weight: bold;">CFO</font><font style="font-size: 11pt;">&#8221;);</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">(iii)</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">chief</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">operating</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">officer</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">respect of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">downstream</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">businesses</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">operated</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Subsidiaries</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">(the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">COO (Downstream)</font><font style="font-size: 11pt;">&#8221;); (iv) the chief operating officer in respect of the sugar and ethanol businesses operated by the Company and its Subsidiaries, including the Sugar and Ethanol Co (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">COO (Sugar and Ethanol)</font><font style="font-size: 11pt;">&#8221;); (v) an investor relations officer; and (vi) such additional members as may be determined by approval of at least six members of the Supervisory Board (if the Supervisory Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen members); </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that at no time shall there be more than eight members of the Executive Board. The members of the Executive Board and all Joint Venture staff shall serve the interests of the Joint Venture, and no such member shall be deemed to represent any particular Shareholder. Each member of the Executive Board shall be an executive of the Company and shall reside in Brazil. Subject to </font><font style="font-size: 11pt;">Section 6.04(a)</font><font style="font-size: 11pt;">, </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(a), </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d) and </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(e) each member of the Executive Board shall serve for a term of two years (subject in each case to </font><font style="font-size: 11pt; letter-spacing: 0.15pt;">re- </font><font style="font-size: 11pt;">election).</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 53.9pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.02</font><font style="font-size: 11pt; font-style: italic;">. Meetings of the Executive Board. </font><font style="font-size: 11pt;">(a) The Executive Board shall hold a meeting at least once every calendar month and at such other time</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">requested</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">CEO.</font><font style="font-size: 11pt; letter-spacing: 1.95pt;"> </font><font style="font-size: 11pt;">Meetings</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">held</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">headquarters of the Joint Venture or as may otherwise be agreed by the members of the Executive Board. Any member of the Executive Board may attend any meeting via</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">teleconference</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">videoconference</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">unless</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">notifies</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">members that such meeting must be held with the attendance of all members in</font><font style="font-size: 11pt; letter-spacing: -1.05pt;"> </font><font style="font-size: 11pt;">person.</font></font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 41pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">Subject to the provisions of this Agreement, the Company's Byelaws and all applicable</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">law,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Executive</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">regulate</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">proceedings</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">they think</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">fit.</font></font></p>
<p style="font-size: 11pt; line-height: 102%; margin: 9.2pt 0pt 0pt 22pt; orphans: 0; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">The members of the Executive Board shall cause to be maintained minutes of all meetings thereof.</font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">6.03</font><font style="font-size: 11pt; font-style: italic;">.</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 1.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">Action</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt; font-style: italic;">by</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt; font-style: italic;">the</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">CEO.</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 1.35pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.7pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">E</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">hereto</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">sets</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">functions of the CEO in respect to the Company, the Sugar and Ethanol Co and other JV Entities. Except as set forth below, all actions and decisions of the CEO may only be taken in compliance with the responsibilities and powers set forth in the Manual of Authorities. Subject to the above and the limitations set out in </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">F</font><font style="font-size: 11pt;"> hereto, the CEO may delegate certain decision making powers or duties to the Senior Management (as defined below) in his sole</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">discretion.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.04</font><font style="font-size: 11pt; font-style: italic;">. Removal of Executive Board Members.</font><font style="font-size: 11pt; font-style: italic;"> </font><font style="font-size: 11pt;">(a) Subject to </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(e),</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">removed,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">without</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">cause,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">prior</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">end of his or her term, by an affirmative vote of at least six members of the Supervisory Board (if the Supervisory Board comprises eight members) or at least</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">ten</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">(if</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">comprises fourteen members). Subject to </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(e), any member of the Executive Board (other than the CEO) may be removed from his position on the Executive Board, with or without cause by either the CEO (in which case the Shareholders shall be obligated to cause all of the Supervisory Board members designated by them</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">individual&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">removal)</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">upon</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">affirmative</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">least six</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(if</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">comprises</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">members).</font></font></p>
<p style="line-height: 11.95pt; margin: 0pt 0pt 0pt 86.85pt; orphans: 0; text-align: justify; text-indent: -30.9pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">At</font><font style="font-size: 11pt; letter-spacing: 0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">end</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">term</font><font style="font-size: 11pt; letter-spacing: 0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.75pt;"> </font><font style="font-size: 11pt;">office</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.8pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">determined</font><font style="font-size: 11pt; letter-spacing: 0.7pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: 0.65pt;"> </font><font style="font-size: 11pt;">accordance</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 2.85pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">6.01,</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">6.05(a)</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(a)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(as</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">applicable),</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">may propose the removal of the CEO to the other Shareholder by providing the other Shareholder with notice setting forth in writing in reasonable detail a fully reasoned and good faith explanation of the reasonable grounds for such removal and evidence why</font><font style="font-size: 11pt; letter-spacing: 1.65pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">how</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">has</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">failed</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">his</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">responsibilities</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(together</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">supporting</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">documentation deemed reasonably necessary by such Shareholder to support such removal), and in this case, (i) if the other Shareholder disagrees with this conclusion, it shall provide written notice</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">notifying</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">disagreement,</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Representatives shall meet as promptly as practicable to discuss such matter and (iii) if the Shareholder Representatives are unable to resolve such disagreement within 20 Business Days </font><font style="font-size: 11pt; letter-spacing: 0.15pt;">of </font><font style="font-size: 11pt;">the initiating</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">notice</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">notifying</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">still</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">wishes</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">effect</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">CEO&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">removal,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the notified</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">shall,</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">upon</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">receipt of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">notice</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">effect,</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">obligated</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">cause</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">all </font><font style="font-size: 11pt; letter-spacing: -0.15pt;">of </font><font style="font-size: 11pt;">the members of the Supervisory Board that it has appointed to vote for the removal of the CEO pursuant to </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">6.04(a).</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.05</font><font style="font-size: 11pt; font-style: italic;">. Vacancies on the Executive Board whilst ROSM is Chairperson.</font><font style="font-size: 11pt; font-style: italic;"> </font><font style="font-size: 11pt;">(a) Subject to the remainder of this </font><font style="font-size: 11pt;">Section 6.05 </font><font style="font-size: 11pt;">and to </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> </font><font style="font-size: 11pt;">6.06, </font><font style="font-size: 11pt;">if ROSM is Chairperson and any individual serving as CEO shall leave the employ of the Company or is otherwise no longer serving in that capacity (whether due to replacement, expiration of term or otherwise), then:</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 43.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the Supervisory Board shall discuss and define the profile(s) they consider desirable in a</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">CEO;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.9pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">each Shareholder shall propose two candidates to become the CEO, taking into account such profile(s), which persons may be vetoed by the other Shareholder (but solely for reasons related to such person&#8217;s qualifications, experience, track record, personal profile, past compliance with the General Business</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Principles</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Venture,</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">person&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">ability</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">represent</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the interests of the Joint Venture above those of either</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Shareholder);</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 37.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(iii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">if the candidates proposed by a Shareholder are vetoed pursuant to paragraph </font><font style="font-size: 11pt;">(ii) </font><font style="font-size: 11pt;">above, such Shareholder may propose additional candidates</font><font style="font-size: 11pt; letter-spacing: -1pt;"> </font><font style="font-size: 11pt;">until both Shareholders have agreed on at least two mutually agreeable</font><font style="font-size: 11pt; letter-spacing: -1pt;"> </font><font style="font-size: 11pt;">candidates;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 38.15pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(iv)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Chairperson</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">nominate</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">one</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">proposed</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">candidates</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">for approval by the Supervisory Board, and the Shareholders shall procure that their respective appointees to the Supervisory Board shall vote to approve the appointment of the individual nominated by the Chairperson;</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.9pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 41.15pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(v)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the individual nominated by the Chairperson shall serve as CEO for a term of two years (subject to re-election) in accordance with </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -1pt;"> </font><font style="font-size: 11pt;">6.01.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Until such time as the Supervisory Board elects the replacement CEO pursuant</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Section </font><font style="font-size: 11pt;">6.05(a),</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">interim</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">(the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">&#8220;</font><font style="font-size: 11pt; font-weight: bold;">Interim</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt; font-weight: bold;">CEO</font><font style="font-size: 11pt;">&#8221;)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">serve</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">his</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">her place. The Supervisory Board shall endeavor to appoint the Interim CEO by approval of at least six members of the Supervisory Board (if the Supervisory Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen members) within two weeks of such vacancy; </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that if</font><font style="font-size: 11pt; letter-spacing: 0.85pt;"> </font><font style="font-size: 11pt;">the</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Supervisory Board does not approve an Interim CEO within such time, the COO (Sugar and Ethanol), the COO (Downstream) and the CFO shall elect the Interim CEO from among the members of the Executive Board by a simple majority vote, and the Shareholders shall procure that their respective appointees to the Supervisory Board shall vote</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">approve</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">appointment</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">person</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">so</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">elected.</font><font style="font-size: 11pt; letter-spacing: 1.75pt;"> </font><font style="font-size: 11pt;">For</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">avoidance</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">doubt,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">there shall be no Interim CEO until a majority is obtained. The Interim CEO shall serve for a maximum of 90 days, at which time, if no replacement CEO has been elected, a new Interim CEO shall be selected using the same procedures described above in this </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> </font><font style="font-size: 11pt;">6.05(b).</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">No</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Executive</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">serve</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">twice</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">before</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">every other member of the Executive Board has served</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">once.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Subject to </font><font style="font-size: 11pt;">Section 6.06, </font><font style="font-size: 11pt;">if any individual serving: (i) as a member of the Executive Board (other than CEO); or (ii) in any other position of the Joint Venture who reports directly to the CEO (each such individual, a &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Direct Report</font><font style="font-size: 11pt;">&#8221;), shall leave the employ</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Entity</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">otherwise</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">longer</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">serving</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">capacity</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">(whether</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">due</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to replacement,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">expiration</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">term</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">otherwise),</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">then</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">submit</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Supervisory Board a nominee, who in the case of the CFO, the </font><font style="font-size: 11pt; letter-spacing: -0.1pt;">COO </font><font style="font-size: 11pt;">(Sugar and Ethanol) or the COO (Downstream) shall be selected from among two individuals submitted by: (A) in the</font><font style="font-size: 11pt; letter-spacing: -1.6pt;"> </font><font style="font-size: 11pt;">case of the CFO, the Shareholder other than the Shareholder who submitted the nominee who was appointed the CEO; (B) in the case of the COO (Sugar and Ethanol), Cosan; and (C) in the case of the COO (Downstream), Shell. Approval of such nominee shall require an affirmative</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">least</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">six</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">(if</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen members). The nominee shall be selected based on both individual merits and capabilities as well as potential contribution to the Executive Board (or, in the case of Direct Reports, his or her relevant team), with the objective of assembling the best team capable of delivering the Joint Venture strategy and Business Plan. Members of the Supervisory Board may decline to approve any such nominee based only on lack of relevant qualifications, experience, track record, personal profile, past compliance</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">General</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Business</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Principles</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Venture,</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">person&#8217;s ability to represent the interests of the Joint Venture above those of either Shareholder. If the Supervisory Board declines to nominate the nominee, the CEO may submit a different candidate (selected from among two new individuals designated by the Shareholder entitled to do so under this paragraph </font><font style="font-size: 11pt;">(c)</font><font style="font-size: 11pt;">) to be approved pursuant to the procedures specified in this paragraph </font><font style="font-size: 11pt;">(c)</font><font style="font-size: 11pt;"> above until an individual is approved to serve in such capacity by the Supervisory Board. In the case of any other position on the Executive Board not otherwise addressed in this </font><font style="font-size: 11pt;">Section 6.05(c)</font><font style="font-size: 11pt;">, the process set forth above shall be followed save that the CEO shall not be required to select his nominee from any pool of persons selected by any</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Shareholder.</font></font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 22pt 0pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Each Shareholder shall, and shall cause each member of the Supervisory Board to, approve the appointment or removal of any individual appointed or removed pursuant to, and in accordance with the other provisions of this </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">6.05</font><font style="font-size: 11pt;">.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.6pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt; font-style: italic;">. Vacancies of the Executive Board post-ROSM.</font><font style="font-size: 11pt; font-style: italic;"> </font><font style="font-size: 11pt;">(a) If (i) ROSM is no longer the Chairperson according to the terms and conditions set forth in Section 5.02(b), and (ii) any individual serving as the CEO and/or the CFO</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">leave</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">employ</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Company or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">otherwise</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">longer</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">serving</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in that capacity (whether due to replacement, expiration of term or otherwise),</font><font style="font-size: 11pt; letter-spacing: -1.9pt;"> </font><font style="font-size: 11pt;">then the Supervisory Board shall endeavor to appoint the replacement CEO and/or CFO</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(as</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">applicable)</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">approval</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">least</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">six</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board (if the Supervisory Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen members) within 20 Business Days of such vacancy. Any CEO and/or CFO appointed in accordance with this </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(a) shall serve for a term of two years (subject in each case to re-election). If no replacement CEO and/or CFO (as applicable) is appointed by the Supervisory Board within such time, a Post-ROSM Interim CEO and/or a Post-ROSM Interim CFO (as applicable) shall be appointed in accordance with the process set out in </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(b) and/or </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(c) below (as</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">applicable).</font></font></p>
<p style="line-height: 11.6pt; margin: 0pt 0pt 0pt 94.05pt; orphans: 0; text-align: justify; text-indent: -36.05pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">replacement</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">appointed</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">pursuant</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.25pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(a), or a Post-ROSM Interim CEO is removed in accordance with </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> </font><font style="font-size: 11pt;">6.04(a),</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">then</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">until</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">time</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">elects</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">replacement</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">pursuant to </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d), an interim CEO (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Post-ROSM Interim CEO</font><font style="font-size: 11pt;">&#8221;) shall serve in his or her place. The Executive Board shall elect the Post-ROSM Interim CEO from among the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Executive</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">simple</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">majority</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">vote,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">shall procure</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">respective</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">appointees</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">approve</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the appointment of the person so elected. For the avoidance of doubt, there shall be no Post- ROSM</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">until</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">majority</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">obtained.</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Post-ROSM</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">serve for a maximum of one year, at which time, if no replacement CEO has been elected in accordance with </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d) the provisions of </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(e) below shall apply. For the</font><font style="font-size: 11pt; letter-spacing: 0.3pt;"> </font><font style="font-size: 11pt;">avoidance</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">doubt</font><font style="font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: 0.3pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: 0.3pt;"> </font><font style="font-size: 11pt;">6.03</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-size: 11pt;">apply</font><font style="font-size: 11pt; letter-spacing: 0.35pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: 0.15pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: 0.45pt;"> </font><font style="font-size: 11pt;">Post-ROSM</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">CEO,</font><font style="font-size: 11pt; letter-spacing: 0.4pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.6pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">term</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Post-ROSM</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">end</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">date</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">replacement CEO is appointed in accordance with </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d) or </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(e) (as</font><font style="font-size: 11pt; letter-spacing: -1pt;"> </font><font style="font-size: 11pt;">applicable).</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">replacement</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">appointed</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">pursuant</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(a), or a Post-ROSM Interim CFO is removed in accordance with </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> 6.04(a),</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">then</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">until</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">time</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">elects</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">replacement</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">pursuant to</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(d),</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">interim</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">&#8220;</font><font style="font-size: 11pt; font-weight: bold;">Post-ROSM</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt; font-weight: bold;">Interim</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt; font-weight: bold;">CFO</font><font style="font-size: 11pt;">&#8221;)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">serve</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">his</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt; letter-spacing: -0.15pt;">or </font><font style="font-size: 11pt;">her place. The Executive Board shall elect the Post-ROSM Interim CFO from among</font><font style="font-size: 11pt; letter-spacing: 1.2pt;"> </font><font style="font-size: 11pt;">the</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">members of the Executive Board by a simple majority vote, and the Shareholders shall procure</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">respective</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">appointees</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">vote</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">approve</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">the appointment of the person so elected. For the avoidance of doubt, there shall be no Post- ROSM</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">until</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">majority</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">obtained.</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Post-ROSM</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">serve for a maximum of one year, at which time, if no replacement CFO has been elected in accordance with </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d) the provisions of </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(e) below shall apply. For the avoidance of doubt the term of the Post-ROSM Interim CFO shall end on the date on which the replacement CFO is appointed in accordance with </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(d) or </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(e) (as</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">applicable).</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">During the term of any Post-ROSM Interim CEO and/or Post-ROSM Interim CFO (as applicable) appointed in accordance with </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(b) or </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt;"> 6.06</font><font style="font-size: 11pt;">(c) (as applicable) the Supervisory Board shall meet regularly to seek to appoint a replacement CEO and/or CFO (as</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">applicable).</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If no replacement CEO and/or CFO (as applicable) is appointed by the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">prior</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">expiry</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">one</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">year</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">term</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Post-ROSM</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Interim</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">CEO and/or Post-ROSM Interim CFO (as applicable), then Shell shall have the first right to appoint the replacement CEO and Cosan shall have the first right to appoint the replacement CFO (as the case may be). In each case, the appointments shall be for a two year term. At the expiry of the relevant two year term, if the Supervisory Board has not agreed</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">appointment</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">replacement</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">(as</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">applicable)</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">accordance with</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(a),</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">appointment</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">rights</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">rotate</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">that Cosan shall have the next appointment right for CEO and Shell shall have the next appointment right for CFO (as the case may be), with each of the CEO and CFO being appointed</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">two</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">year</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">term.</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">appointment</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">rights</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">CEO</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">CFO shall</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">continue to</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">rotate</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">between</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">until</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">appoints</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">replacement</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">CEO and/or CFO (as applicable) in accordance with </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(a). Any replacement CEO and/or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">CFO</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">appointed</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(e)</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">appointed</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">two</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">year term. No Shareholder shall simultaneously hold the appointment rights for CEO and CFO under the terms of this </font><font style="font-size: 11pt;">Section 6.06</font><font style="font-size: 11pt;">(e). </font><font style="font-size: 11pt;">Section 6.04 </font><font style="font-size: 11pt;">shall not apply to any replacement CEO and/or CFO appointed in accordance with this </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">6.06</font><font style="font-size: 11pt;">(e).</font></font></p>
<p style="line-height: 11.65pt; margin: 0pt 0pt 0pt 100.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.07 </font><font style="font-size: 11pt; font-style: italic;">Other Vacancies of the Executive Board after ROSM. </font><font style="font-size: 11pt;">In</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 2.95pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">situation</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">where</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">ROSM</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">longer</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Chairperson</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">according</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">terms</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">and conditions set forth in Section 5.02(b), </font><font style="font-size: 11pt;">Section 6.05(c) </font><font style="font-size: 11pt;">will continue to apply in respect of all other positions of the Executive Board (other than the CEO and CFO) and </font><font style="font-size: 11pt;">Section 6.05(c) </font><font style="font-size: 11pt;">will cease to apply to in respect of the</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">CFO.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.35pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.08 </font><font style="font-size: 11pt; font-style: italic;">Compensation. </font><font style="font-size: 11pt;">The members of the Executive Board shall be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">compensated</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">decisions</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">taken</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'>38</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.9pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">pursuant to </font><font style="font-size: 11pt; text-decoration: underline;">Annex D</font><font style="font-size: 11pt;"> and as approved by the Shareholders in accordance with </font><font style="font-size: 11pt; text-decoration: underline;">Annex B</font><font style="font-size: 11pt;">.</font></font></p>
<p style="font-size: 12pt; line-height: 122%; margin: 0.15pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 6.09</font><font style="font-size: 11pt; font-style: italic;">. Committees. </font><font style="font-size: 11pt;">The Executive Board shall create any committees required pursuant to agreement between Cosan and Shell and may create and operate any other committees as it may determine</font><font style="font-size: 12pt;">.</font></font></p>
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<p style="margin: 9.95pt 144.05pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">ARTICLE 7</font></p>
<p style="margin: 3.3pt 144.05pt 0pt 144.1pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">O</font><font style="font-size: 9pt;">THER </font><font style="font-size: 11pt;">G</font><font style="font-size: 9pt;">OVERNANCE </font><font style="font-size: 11pt;">M</font><font style="font-size: 9pt;">ATTERS</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.45pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 7.01</font><font style="font-size: 11pt; font-style: italic;">. Manual of Authorities. </font><font style="font-size: 11pt;">The Shareholders shall cause the Supervisory Board to adopt and maintain, in respect to the Company and its Subsidiaries, a manual of authorities (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Manual of Authorities</font><font style="font-size: 11pt;">&#8221;) in a form approved by the Shareholders, consistent with the levels of authority set out in </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.55pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">D</font><font style="font-size: 11pt;">,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.5pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">E</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt; text-decoration: underline;">Annex</font><font style="font-size: 11pt; letter-spacing: -0.5pt; text-decoration: underline;"> </font><font style="font-size: 11pt; text-decoration: underline;">F</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">hereof.</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Manual</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Authorities</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">forth the extent and limitations of authority, in respect of the taking of decisions on behalf of the Company, or a Subsidiary thereof (as applicable), which each executive the Company has been granted and shall be registered at the Company&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">headquarters.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.6pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 7.02</font><font style="font-size: 11pt; font-style: italic;">. Dismissals. </font><font style="font-size: 11pt;">(a) The CEO (or any person otherwise approved by at least six members of the Supervisory Board (if the Supervisory Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen members)) will ensure that any breach of the Key Policies by an employee of the Company is investigated and, following such investigation, shall ensure that such action is taken as he (or his</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">designate)</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">considers</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">appropriate</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">relation</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">breach,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">include dismissal.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.4pt 19pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b) </font><font style="font-size: 11pt;">Subject to applicable law and any policies adopted by the Supervisory Board, any employee of the Company (other than a member of the Executive Board) may be removed, with or without cause, by the CEO.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 7.03 </font><font style="font-size: 11pt; font-style: italic;">Subsidiary Governance. </font><font style="font-size: 11pt;">The senior management (including the executive officers) of each JV Entity (other than the Company), and the supervisory board of the Sugar and Ethanol Co, shall be selected (to the extent not restricted by any governing document of a JV Entity which is not wholly owned) by the CEO of the Company or his delegate; </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">approval</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">least</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">six</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">members</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board (if the Supervisory Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen members) may veto any such decision and select alternative persons for such roles.</font><font style="font-size: 11pt; letter-spacing: -1.8pt;"> </font><font style="font-size: 11pt;">Subject to:</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Byelaws;</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Brazilian</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Corporation</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Law;</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(iii)</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">provisions</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">this</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 16.85pt 0pt 64pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Agreement (including the powers, rights and entitlements of the Supervisory Board, the Executive Board and the Senior Management of the Company, and of persons entitled to vote at a Shareholders' Prior Meeting or a General Meeting of the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Company),</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">senior</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">management</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">Entity</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(other</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">than</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Company) and, in respect of the Sugar and Ethanol Co, its supervisory board, shall be responsible for the administration and management of the relevant JV</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">Entity.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 7.04</font><font style="font-size: 11pt; font-style: italic;">. Senior Management. </font><font style="font-size: 11pt;">The senior management of the Company, which shall include the members of the Executive Board, excluding the CEO, and any Direct Report (the &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Senior Management</font><font style="font-size: 11pt;">&#8221;) have the right to make</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">decisions</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">respect</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Entities,</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">extent set out in </font><font style="font-size: 11pt; text-decoration: underline;">Annex F</font><font style="font-size: 11pt;"> hereto, without the need for further approval of the CEO or the Supervisory Board. Except as set forth in </font><font style="font-size: 11pt; text-decoration: underline;">Annex F</font><font style="font-size: 11pt;">, all actions and decisions of the Senior Management may only be taken in compliance with the responsibilities and powers set forth in the Manual of</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Authorities.</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 144.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">ARTICLE 8</font></p>
<p style="margin: 3.3pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">S</font><font style="font-size: 9pt;">COPE OF THE </font><font style="font-size: 11pt;">C</font><font style="font-size: 9pt;">OMPANY</font><font style="font-size: 11pt;">; A</font><font style="font-size: 9pt;">CQUISITIONS</font><font style="font-size: 11pt;">; B</font><font style="font-size: 9pt;">USINESS </font><font style="font-size: 11pt;">O</font><font style="font-size: 9pt;">PPORTUNITIES</font></font></p>
<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 12pt;">&nbsp;</font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 13pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 100.05pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 8.01</font><font style="font-size: 11pt; font-style: italic;">. Scope of the Joint Venture</font></font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 15.5pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; letter-spacing: -0.1pt;">I.</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The principal businesses of the Company and its Subsidiaries in Brazil, directly or indirectly, will be:</font></font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9pt;">&nbsp;</font></p>
<p style="margin: 0pt 18.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">supply,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">trading,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">distribution,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">commercialization</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">sale</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">fuel</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">products within</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Brazil,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">including,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">performance</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">business,</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">sourcing</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">fuel</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">products, globally;</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 86.85pt; orphans: 0; text-align: justify; text-indent: -30.9pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">acting as an agent for the sale of Lubricants within</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Brazil;</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the further development (and licensing) of Sugar and Ethanol production- related technology</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">globally;</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 86.85pt; orphans: 0; text-align: justify; text-indent: -30.9pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">performing the Convenience Business and the Proximity</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Business;</font></font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 86.85pt; orphans: 0; text-align: justify; text-indent: -30.3pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the production, sale and trading of Sugar</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">globally;</font></font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(f)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the production of Ethanol globally, the sale of Ethanol within any country in which the Joint Venture produces it, and the trading of Ethanol within international waters</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">globally;</font></font></p>
<p style="margin: 0.5pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(g)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">investment in, and the operation of, Sugar-related or ethanol-related (and not only-Ethanol-related) logistics infrastructure, including pipelines within Brazil</font><font style="font-size: 11pt; letter-spacing: 1.8pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="font-size: 7pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><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'>40</font></font></td>
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<p style="font-size: 10pt; margin: 0.3pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 21.95pt 0pt 22pt;"><font style="font-family: 'times new roman', times; font-size: 11pt;">within any other countries in which the Joint Venture produces Sugar and/or ethanol (and not only Ethanol);</font></p>
<p style="font-size: 10pt; margin: 0.55pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 21.95pt 0pt 22pt; text-align: justify; text-indent: 33.95pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(h)</font><font style="font-size: 11pt;margin-left: 15pt;">transportation of passengers and cargo, including transportation of passengers and cargo over</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">water;</font></font></p>
<p style="font-size: 10pt; margin: 0.5pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 22.05pt 0pt 22pt; text-align: justify; text-indent: 36.35pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(i)</font><font style="font-size: 11pt;margin-left: 15pt;">the agricultural exploration of the Joint Venture's property or third parties' property;</font></font></p>
<p style="font-size: 10pt; margin: 0.4pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 102%; margin: 0pt 21.95pt 0pt 22pt; text-align: justify; text-indent: 36.35pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(j)</font><font style="font-size: 11pt;margin-left: 15pt;">the importation, exportation, handling, trading, production, deposit or transportation of fertilizers and other agricultural raw</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">material;</font></font></p>
<p style="font-size: 10pt; margin: 0.05pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 102%; margin: 0pt 22.05pt 0pt 22pt; text-align: justify; text-indent: 34.55pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(k)</font><font style="font-size: 11pt;margin-left: 15pt;">the management of movable or immovable assets, including lease, receipt (</font><font style="font-size: 11pt; font-style: italic;">recebimento</font><font style="font-size: 11pt;">), rental and loan of any assets and equipment in</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">general;</font></font></p>
<p style="font-size: 10pt; margin: 0.15pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 0pt 0pt 86.85pt; text-align: justify; text-indent: -28.5pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(l)</font><font style="font-size: 11pt;margin-left: 15pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">rendering</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">technical</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">services</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">related</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">above</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">mentioned</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">activities;</font></font></p>
<p style="font-size: 10pt; margin: 0.3pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0.05pt 21.95pt 0pt 22pt; text-align: justify; text-indent: 31.55pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(m)</font><font style="font-size: 11pt;margin-left: 15pt;">physical and financial wholesale and, marketing, trading, sales, import and investment in all products and services related to fuel products, including transportation (shipping or wheeling) and storage rights within</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Brazil;</font></font></p>
<p style="font-size: 10pt; margin: 0.1pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 0pt 0pt 86.85pt; text-align: justify; text-indent: -30.9pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(n)</font><font style="font-size: 11pt;margin-left: 15pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">generation</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">power</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">energy</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">maximum</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">capacity</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">5</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">MW</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">per</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">site;</font></font></p>
<p style="font-size: 10pt; margin: 0.35pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 6pt;">&nbsp;</font></p>
<p style="margin: 4.6pt 0pt 0pt 86.85pt; text-align: justify; text-indent: -30.9pt;"><font style="font-family: &quot;times new roman&quot;, times;"><font style="font-size: 11pt; font-style: italic;">(o)</font><font style="font-size: 11pt;margin-left: 15pt;">the production and sale of Co-gen Products at the Joint Venture's</font><font style="font-size: 11pt; letter-spacing: 0.1pt;"> </font><font style="font-size: 11pt;">facilities;</font></font></p>
<p style="font-size: 10pt; margin: 0.2pt 0pt 0pt 22pt;"><font style="font-family: 'times new roman', times; font-size: 11pt;">and</font></p>
<p style="font-size: 10pt; margin: 0.5pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 6pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 4.55pt 0pt 0pt 86.85pt; text-align: justify; text-indent: -30.9pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(p)</font><font style="font-size: 11pt;margin-left: 15pt;">the participation in other companies' capital</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">stock.</font></font></p>
<p style="font-size: 10pt; margin: 0.25pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 11pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 21.8pt 0pt 22pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; letter-spacing: -0.1pt;">II.</font><font style="font-size: 11pt;margin-left: 15pt;">The principal business of the Company and its Subsidiaries in Argentina, directly or indirectly, will be:</font></font></p>
<p style="font-size: 10pt; margin: 0.4pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 21.8pt 0pt 22pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(a)</font><font style="font-size: 11pt;margin-left: 15pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">supply</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">distribution,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">commercialization</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">sale</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">automotive,</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">aviation and industrial fuel products, bitumen, liquefied petroleum gas, and chemical solvents (but only chemical solvents produced by the local refinery in Buenos Aires owned by the Joint Venture), as well as any other product produced by the Joint Venture&#8217;s refinery</font><font style="font-size: 11pt; letter-spacing: -1.3pt;"> </font><font style="font-size: 11pt;">business;</font></font></p>
<p style="font-size: 10pt; margin: 0.35pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0.05pt 21.95pt 0pt 22pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(b)</font><font style="font-size: 11pt;margin-left: 15pt;">the operation of retail stations and operation and franchising and/or licensing of convenience</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">stores;</font></font></p>
<p style="font-size: 10pt; margin: 0.5pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 0pt 0pt 72.75pt; text-align: justify; text-indent: -14.8pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(c)</font><font style="font-size: 11pt;margin-left: 15pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">operation</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">local</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">refinery</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Buenos</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Aires</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">owned</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Venture;</font></font></p>
<p style="font-size: 10pt; margin: 0.05pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 11.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 21.7pt 0pt 22pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(d)</font><font style="font-size: 11pt;margin-left: 15pt;">the supply and distribution, blending, commercialization, and sale of Lubricants, including selling to Shell to export or exporting to countries which the Joint Venture</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">has</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">lubricants</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">brand</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">license</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">agreement</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">signed</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">force</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">of its</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Affiliates);</font></font></p>
<p style="font-size: 10pt; margin: 0.4pt 0pt 0pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 10pt; margin: 0pt 0pt 0pt 73pt; text-align: justify; text-indent: -15.05pt;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(e)</font><font style="font-size: 11pt;margin-left: 15pt;">the import of fuels, biofuels and ethanol;</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="font-size: 7pt; line-height: 6%; margin: 0pt;"><br></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 111%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(f)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp; </font><font style="font-size: 11pt;">the purchase, sale, import and export of crude oil and fuel products (subject to compliance with the products trading agreement between Shell Trading (US) Company and Ra&#237;zen Argentina S.A., effective from 1 October</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">2018).</font></font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">In addition to the business included in 8.01(I) and 8.01(II) above (together the "</font><font style="font-size: 11pt; font-weight: bold;">Joint</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt; font-weight: bold;">Venture</font><font style="font-size: 11pt; font-weight: bold; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt; font-weight: bold;">Business</font><font style="font-size: 11pt;">"),</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">also</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">perform</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">business</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">and/or activity,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">whether</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">related</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">activities</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">mentioned</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">above,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">with its by-laws and/or as approved by the Supervisory Board (by approval of at least six members</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(if</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">comprises</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">eight</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">members)</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">or at least ten members of the Supervisory Board (if the Supervisory Board comprises fourteen</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">members)).</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">above-mentioned</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">categories</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">construed</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">interpreted</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt; letter-spacing: -0.15pt;">so </font><font style="font-size: 11pt;">as to include any and all ancillary activities or services necessary for the performance of the Joint Venture Business.</font></font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 100.05pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 8.02.</font><font style="font-size: 11pt; letter-spacing: 2.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">Restrictions</font><font style="font-size: 11pt;">.</font></font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 16.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.55pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">For so long as a Cosan, Cosan Investimentos and Shell are Shareholders, none of the Shareholders (or any of their Affiliates) shall engage in the Joint Venture Business in Brazil other than through the Joint Venture; provided that any of the Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">engage</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">further</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">development</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">second- generation technology in Brazil (and, for the avoidance of doubt, Shell (or any of its Affiliates) may continue the Existing Academic Projects in</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Brazil).</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 18.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">For</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">so</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">long</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Cosan,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Investimentos</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Shareholders,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">none of the Shareholders (or any of their Affiliates) shall engage in the Joint Venture Business in Argentina other than through the Joint Venture; provided that (i) any of the Shareholder&#8217;s (and any of their Affiliates&#8217;) global network of trading, aviation and marine businesses</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">continue</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">import,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">export,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">purchase,</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">sale,</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">receipt</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">delivery</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">products, except for gasoline, diesel and aviation jet fuel products to end-use customers in the Argentina fuel market (which end-use customers do not include refiners); (ii) Shell (and any of its Affiliates) may export products from, import products to, and supply and distribute,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">blend,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">commercialize</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">sell</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">automotive</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">industrial</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">lubricants,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">greases,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">fuel products,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">bitumen,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">liquified</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">petroleum</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">gas</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">chemical</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">solvents</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Argentina</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">operate associated retail stations and convenience stores) unless a brand licensing agreement between</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">signed</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">force;</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(iii)</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Cosan (and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">continue</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">supply</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">distribution,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">commercialization</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and sale</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">lubricants</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">except</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">otherwise</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">agreed</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">between</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Venture and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Affiliates);</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(iv)</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Affiliates) are free to engage in and commercialize any products (x) directly relating to or produced by</font><font style="font-size: 11pt; letter-spacing: 1.65pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: 1.6pt;"> </font><font style="font-size: 11pt;">upstream</font><font style="font-size: 11pt; letter-spacing: 1.85pt;"> </font><font style="font-size: 11pt;">business,</font><font style="font-size: 11pt; letter-spacing: 1.65pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: 1.75pt;"> </font><font style="font-size: 11pt;">(y)</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">being</font><font style="font-size: 11pt; letter-spacing: 1.65pt;"> </font><font style="font-size: 11pt;">produced</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: 1.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: 1.7pt;"> </font><font style="font-size: 11pt;">Venture&#8217;s</font><font style="font-size: 11pt; letter-spacing: 1.6pt;"> </font><font style="font-size: 11pt;">refinery</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 18.3pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">business</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">end</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">calendar</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">year</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">2018;</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(v)</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Affiliates) shall be free to engage in the activities and markets set forth in Section 8.01(II)(e) and Section 8.01(II)(f) except if directly related to the sale of gasoline, diesel (not including bio-diesel)</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">aviation</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">jet</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">fuel</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">products</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">end-use</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">customers</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Argentina</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">fuel</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">market (which end-use customers do not include</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">refiners).</font></font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Nothing contained in this Section 8.02 shall preclude or restrict the Shareholders (or any of their Affiliates) from entering into any transaction to globally acquire the whole or part of any business or undertaking (an "Acquisition Target"), provided that the acquiring Shareholder can demonstrate, to the reasonable satisfaction of the other Shareholder, that the principal purpose of the acquisition of the Acquisition Target is not the acquisition of any of the businesses described in Section 8.01(I)(a) to (d) in</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Brazil,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">but,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">case</font><font style="font-size: 11pt; letter-spacing: 1.85pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Acquisition</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Target</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">performs</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">businesses</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">described in Section 8.01(I)(a) to (d) in Brazil, the acquiring Shareholder shall, within eighteen (18) months of completing the acquisition of acquiring the Acquisition Target, dispose of the Acquisition Target&#8217;s businesses described in Section 8.01(I)(a) to (d) in Brazil to a third party (not being a member of the acquiring Shareholder&#8217;s Group or a person acting for or on behalf of the acquiring Shareholder&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Group).</font></font></p>
<p style="margin: 10.15pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">For so long as it remains a Shareholder, no Shareholder (or any of its Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">shall:</font></font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 12.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.05pt 21.7pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 43.45pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">engage in the activities listed in items &#8220;c&#8221;, &#8220;e&#8221; to &#8220;g&#8221; and &#8220;o&#8221; of the Section 8.01(I) above in Brazil other than through the Joint Venture; provided that, for the avoidance of doubt: (1) any of the Shareholders (or any of their Affiliates) may sell or trade non-sugarcane ethanol in Brazil; (2) any of the Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">engage</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">further</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">development</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of second-generation technology in Brazil (and, for the avoidance of doubt, Shell</font><font style="font-size: 11pt; letter-spacing: -1.9pt;"> </font><font style="font-size: 11pt;">(or any of its Affiliates) may continue the Existing Academic Projects in Brazil); (3) Cosan (or any of its Affiliates) may carry on any business engaged in the investment in, and/or the operation of, Sugar-related storage and transportation assets</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Brazil;</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(4)</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">engage in the wholesale energy trading within Brazil; (5) any of the Shareholders (or any of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Affiliates)</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">engage</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">distributed</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">generation</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">solar</font><font style="font-size: 11pt; letter-spacing: 0.1pt;"> </font><font style="font-size: 11pt;">power</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">energy within Brazil;</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.65pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.45pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">engage in the production of Sugar and Ethanol outside of Brazil other</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">than</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">through</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Venture;</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">provided</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">any of their Affiliates) may engage in: (1) such production outside of Brazil </font><font style="font-size: 11pt; letter-spacing: 0.25pt;">in </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: 1.2pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: 1.2pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: 1.2pt;"> </font><font style="font-size: 11pt;">8.03;</font><font style="font-size: 11pt; letter-spacing: 1.3pt;"> </font><font style="font-size: 11pt;">(2)</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">further</font><font style="font-size: 11pt; letter-spacing: 1.3pt;"> </font><font style="font-size: 11pt;">development</font><font style="font-size: 11pt; letter-spacing: 1.25pt;"> </font><font style="font-size: 11pt;">of,</font><font style="font-size: 11pt; letter-spacing: 1.1pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: 1.3pt;"> </font><font style="font-size: 11pt;">production</font><font style="font-size: 11pt; letter-spacing: 1.2pt;"> </font><font style="font-size: 11pt;">of</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.8pt 0pt 58pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ethanol</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">from,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">second-generation</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">technology</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">outside</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Brazil;</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">(3)</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Cosan,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Shell and</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">their</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">respective</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Subsidiaries</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">engage,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">outside</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Brazil,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">retail sugar</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">business</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">extent</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">retained</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">(or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Subsidiaries)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">pursuant to Clause 4 of the Framework</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Agreement.</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">For so long as ROSM and/or a ROSM Qualifying Replacement (as defined in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Agreement)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">has</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">Controlling</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Interest</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Venture,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">and its</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Affiliates</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">purchase</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">sell</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">ethanol</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(including</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Ethanol)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">country</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">which Cosan</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Affiliate</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">has</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">fuels</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">distribution</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">business</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">but</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">only</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">purpose</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">sale of ethanol by, and in the course of, such distribution business and, for the sake of clarity, Cosan</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Affiliates</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">also</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">purchase</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">sell</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">ethanol</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">(but</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Ethanol)</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">connection with trading operations, so long as such operations do not affect any purchases and sales of Ethanol; and (ii) continue the supply and distribution, commercialization and sale of Lubricants</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">globally,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">except</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">otherwise</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">agreed</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">between</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Venture and Cosan (and any of its</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Affiliates).</font></font></p>
<p style="margin: 0.55pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(f)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">For so long as ROSM and/or a ROSM Qualifying Replacement (as defined in the Joint Venture Agreement) has a Controlling Interest in the Joint Venture and in the event Cosan or one of its Subsidiaries has commenced operations relating to the sale and trading</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Sugar</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">outside</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Brazil,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">will</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">hold</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">good faith discussions regarding possible collaboration or business arrangements between such operations and the Joint Venture that will create value for both such</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">parties.</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0.05pt 0pt 0pt 100.05pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 8.03.</font><font style="font-size: 11pt; letter-spacing: 2.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">Acquisitions.</font></font></p>
<p style="margin: 0.25pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 16.5pt; font-style: italic;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">To develop the Joint Venture Business, the Joint Venture will consider the acquisition of, or investment in, third party businesses or assets within the scope of the Joint Venture Business, whether directly, by way of joint venture or any other form of business combination (any such transaction, an</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">"</font><font style="font-size: 11pt; font-weight: bold;">Acquisition</font><font style="font-size: 11pt;">").</font></font></p>
<p style="margin: 0.2pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 18.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">If any Shareholder or any of its Affiliates, the Joint Venture identifies any opportunity for an Acquisition, such Person shall refer the identified opportunity to the Executive</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">analysis</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">before</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">itself</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">conducting</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">detailed</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">analysis.</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The Joint Venture shall not make or enter into, any agreement to make any Acquisition without the prior approval of the Supervisory Board pursuant to Annex D or which would require any direct financing from Cosan and/or Shell; provided that, when considering any Acquisition, the Supervisory Board shall give due regard to whether the Acquisition would (i) be consistent with the policies of the Joint Venture then existent (including, for the avoidance of doubt, the Key Policies); (ii) in the reasonable opinion</font><font style="font-size: 11pt; letter-spacing: 1.6pt;"> </font><font style="font-size: 11pt;">of</font></font></p>
<p style="font-size: 7pt; line-height: 6%; margin: 0pt; orphans: 0; widows: 0;"><br></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 22.1pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">the Supervisory Board, meet the internal rate of return and other operational thresholds which may be specified by the Supervisory Board; and (iii) would result in an increase to the leverage ratio beyond any limit specified by the Supervisory Board.</font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">A</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">will</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">permitted</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">make</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Acquisition</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">mill</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">used for</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">production</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Sugar</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Ethanol</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">outside</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Brazil</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">if,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">meeting</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Supervisory Board, all Qualifying Persons appointed by such Shareholder to the Supervisory Board voted in favour, and at least two of the Qualifying Persons appointed to the Supervisory Board by the other Shareholder voted against, the Joint Venture making such</font><font style="font-size: 11pt; letter-spacing: -1.05pt;"> </font><font style="font-size: 11pt;">Acquisition.</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 100.05pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 8.04. </font><font style="font-size: 11pt; font-style: italic;">Convenience and Proximity Businesses Non-compete</font><font style="font-size: 11pt;">.</font></font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 13pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">For so long as Cosan, Cosan Investimentos and Shell are Shareholders and for so long as the Joint Venture performs the Convenience Business and the Proximity Business, directly or indirectly through any of its Affiliates, none of the Shareholders (or any of their Affiliates) shall, other than through the Joint Venture (x) engage, have any financial relationship or interest or, in any other form, be involved under any title, in any development, activity or business, which, directly or indirectly, is in competition with any of the Convenience Business and the Proximity Business within Brazil, nor (y) enter into any</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">discussions,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">negotiations</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and/or</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">preliminary</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">agreements,</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Brazil,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">third</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">party in order to evaluate a possible transaction or agreement related to the Convenience Business or the Proximity Business in</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Brazil.</font></font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">During</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">period</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">two</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(2)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">years</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">counted</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">from</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">date</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">termination</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of the Shareholders' Agreement Ra&#237;zen Conveni&#234;ncias, or the implementation of the separation of the Convenience Business from the Proximity Business within Ra&#237;zen Conveni&#234;ncias,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">restricted</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">cause</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">respective</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Affiliates to be restricted to, directly or indirectly, perform the Proximity Business, pursuant to the same terms of the Section 8.04(a)</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">above.</font></font></p>
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<p style="margin: 0pt 144.05pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">ARTICLE 9</font></p>
<p style="margin: 3.4pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">D</font><font style="font-size: 9pt;">ISTRIBUTION AND </font><font style="font-size: 11pt;">D</font><font style="font-size: 9pt;">IVIDEND </font><font style="font-size: 11pt;">P</font><font style="font-size: 9pt;">OLICY</font><font style="font-size: 11pt;">; F</font><font style="font-size: 9pt;">ISCAL AND </font><font style="font-size: 11pt;">A</font><font style="font-size: 9pt;">CCOUNTING </font><font style="font-size: 11pt;">Y</font><font style="font-size: 9pt;">EAR</font></font></p>
<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 13pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 9.01</font><font style="font-size: 11pt; font-style: italic;">. Distributions and Dividend Policy. </font><font style="font-size: 11pt;">Unless otherwise agreed by the Shareholders in accordance with the provisions of this Agreement and applicable law, the Shareholders shall ensure that the net profit of the Company registered in the fiscal year, computed after the deductions and adjustments provided for in the Brazilian Corporation Law, will be subject to the following allocation order:</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.35pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">first</font><font style="font-size: 11pt;">, five per cent (5%) of the net profit to the constitution of the legal reserve, until</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">it</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">reaches</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(x)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">twenty</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">per</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">cent</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(20%)</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">capital</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">stock</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(y)</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">thirty</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">percent</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(30%)</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</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'>45</font></font></td>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.95pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">the capital plus any capital surplus, and which will never exceed the lower amount of (x) and (y);</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">second</font><font style="font-size: 11pt;">,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">payment</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">mandatory</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">dividend</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">1%</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">net</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">profits</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">holders</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the common shares and preferred</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">shares;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">third</font><font style="font-size: 11pt;">, payment to the Company&#8217;s statutory reserve (</font><font style="font-size: 11pt; font-style: italic;">reserva estatut&#225;ria</font><font style="font-size: 11pt;">) for operations and projects, in an amount agreed by the Shareholders in a Shareholders&#8217; Prior Meeting; </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that in no event shall (a) such amount exceed 80% of net profits or (b) such statutory reserve exceed 80% of the Company&#8217;s share capital; and</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.3pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">fourth</font><font style="font-size: 11pt;">, payment of the remaining amount as dividends to the holders of the common shares and preferred shares, in accordance with any determination at the annual General Meeting, with due regard to the terms and conditions set forth in the Usufruct Agreement;</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">that,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">setting</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">payments</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">amounts</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">under</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">9.01</font><font style="font-size: 11pt;">,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Shareholders agree</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">that:</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 43.45pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt;margin-left: 15pt;">the Company shall have regard to its capital requirements (including as set out in the then-current Business Plan) and its obligations under </font><font style="font-size: 11pt;">Section 9.03</font><font style="font-size: 11pt;"> but, subject to those considerations, the Company shall seek to maximize the amount of profits to be distributed to the Shareholders under this</font><font style="font-size: 11pt;"> Section 9.01</font><font style="font-size: 11pt;">;</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.8pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.45pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt;margin-left: 15pt;">the amount paid shall be consistent with the leverage ratio objectives</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">capital</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">investment</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">requirements</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">determined by the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="margin: 0.3pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Further, the decision to make any distribution pursuant to this </font><font style="font-size: 11pt;">Section 9.01 </font><font style="font-size: 11pt;">in the form of either IOC or dividends shall be made by the Supervisory Board.&nbsp;</font></font></p>
<p style="margin: 0.35pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 13.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 9.02. </font><font style="font-size: 11pt; font-style: italic;">Fiscal and Accounting Year. </font><font style="font-size: 11pt;">In the event that any fiscal and accounting year of the Company and its Subsidiaries does not commence on January 1</font><font style="font-size: 7pt; vertical-align: 4pt;">st </font><font style="font-size: 11pt; letter-spacing: -0.15pt;">of </font><font style="font-size: 11pt;">each year, the Company undertakes to hire the External Auditors to perform an additional audit in relation to its accounts for each financial year from (a) the date thereof to December 31</font><font style="font-size: 7pt; vertical-align: 4pt;">st </font><font style="font-size: 11pt;">of such year and (b) from January 1</font><font style="font-size: 7pt; vertical-align: 4pt;">st </font><font style="font-size: 11pt;">to December 31</font><font style="font-size: 7pt; vertical-align: 4pt;">st </font><font style="font-size: 11pt;">in each subsequent year, in each case, within a scope to be determined by Shell (acting reasonably).</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="margin: 0pt 0pt 0pt 58pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 9.</font><font style="font-size: 11pt;">03 </font><font style="font-size: 12pt; font-style: italic;">Capital sufficiency</font><font style="font-size: 12pt;">.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.25pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">On and from the date of the Seventh Amendment to the Shareholders&#8217; Agreement,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">not</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">obliged</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">provide</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">capital</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Company (or any of its Subsidiaries) by way of subscription for further Company Shares or by</font><font style="font-size: 11pt; letter-spacing: 1.95pt;"> </font><font style="font-size: 11pt;">way</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.95pt 0pt 22pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">of loans or (ii) any credit support in respect of the obligations of the Company (or any of its Subsidiaries).</font></p>
<p style="margin: 0.05pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.85pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The parties to this Agreement acknowledge and agree that, on and from</font><font style="font-size: 11pt; letter-spacing: -1.15pt;"> </font><font style="font-size: 11pt;">the date of the Seventh Amendment to the Shareholders&#8217; Agreement, the Company shall procure that the activities of the Joint Venture are funded or financed</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">from:</font></font></p>
<p style="margin: 0.2pt 0pt 0pt 130.05pt; orphans: 0; text-align: justify; text-indent: -28.6pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(i)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">the operating free cashflow of the Company and its</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Subsidiaries;</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 3.3pt 21.7pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 40.45pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(ii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">debt financing advanced by third parties, provided that: (A) the projected</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">cash</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">requirements</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">debt</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">applied</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">identified</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the then-current Business Plan; (B) the raising of such debt is expressly contemplated in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">then-current</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Business</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Plan</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Company's</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">treasury</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">policy;</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(C)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">terms upon which such debt is raised (including any binding documentation in respect thereof)</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">approved</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Board;</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">(D)</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">third</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">party</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">lender shall have (or be granted) the right, whether actual or contingent, to participate in the share capital of the Company or otherwise in the Joint Venture Business as a condition or term of any loan or advance;</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">and</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.85pt 0pt 58pt; orphans: 0; text-align: justify; text-indent: 37.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">(iii)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">subject to the written consent of (and on terms approved by)</font><font style="font-size: 11pt; letter-spacing: -1.05pt;"> </font><font style="font-size: 11pt;">each Shareholder, the issuance of preferred shares to persons who shall, upon issuance thereof, become Non-Party Holders, provided that: (A) such preferred shares are listed in the B3 and (B) in all cases the issuance of such preferred shares shall not result in the economic interest of Shell or Cosan in the Company falling below 35 per</font><font style="font-size: 11pt; letter-spacing: 0.05pt;"> </font><font style="font-size: 11pt;">cent.</font></font></p>
<p style="margin: 0.15pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 9.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.05pt 21.65pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Without limiting </font><font style="font-size: 11pt;">Section 9.03(b)(ii), </font><font style="font-size: 11pt;">the Company may in writing request that the Shareholders provide (i) debt finance to the Company (or any of its Subsidiaries) and/or (ii) credit support in respect of the obligations of the Company (or any of its Subsidiaries). Each Shareholder shall determine in its absolute discretion whether to participate in respect of any such request, provided that any such debt finance or credit support</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">arrangement</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">provided</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Affiliates</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">on</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">arms'</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">length terms and (ii) must be approved by the Supervisory Board pursuant to the voting arrangements to which </font><font style="font-size: 11pt;">Section 5.12(c)</font><font style="font-size: 11pt; letter-spacing: 0.05pt;"> </font><font style="font-size: 11pt;">refers.</font></font></p>
<p style="margin: 0.45pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 9.04 </font><font style="font-size: 11pt; font-style: italic;">Capital Redemptions. </font><font style="font-size: 11pt;">Unless otherwise required by applicable law, the Company shall only effect the redemption of its share capital in accordance with a Transaction Document or if otherwise agreed in writing by the Shareholders.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 6.1pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 42.6pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 9.05</font><font style="font-size: 11pt; font-style: italic;">Distributions by Subsidiaries</font><font style="font-size: 11pt;">. The Company agrees that it shall exercise all voting rights and other rights or powers available to it as the sole owner of the Sugar and Ethanol Co, and as indirect or direct shareholder in each other JV Entity, so as to procure that the Sugar and Ethanol Co and each such other JV Entity distributes to its</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">parent undertakings all amounts which are lawfully available to them for distribution by way of a dividend on their shares or otherwise in any manner permitted by applicable law (after</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">taking</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">into</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">account,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">case</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">be,</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">reasonable</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">working</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">capital</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">requirements of the Sugar and Ethanol Co or the relevant other</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Subsidiary).</font></font></p>
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<p style="margin: 8.45pt 144.05pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11pt;">ARTICLE 10</font></p>
<p style="margin: 3.35pt 0pt 0pt; orphans: 0; text-align: center; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">B</font><font style="font-size: 9pt;">OARD </font><font style="font-size: 11pt;">M</font><font style="font-size: 9pt;">EMBERS</font><font style="font-size: 11pt;">&#8217; I</font><font style="font-size: 9pt;">NDEMNITY AND </font><font style="font-size: 11pt;">I</font><font style="font-size: 9pt;">NSURANCE</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 3.3pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 10.01</font><font style="font-size: 11pt; font-style: italic;">. Board Members&#8217; Insurance. </font><font style="font-size: 11pt;">The Company shall purchase, and maintain at the Company&#8217;s own cost, directors&#8217; and officers&#8217; liability insurance in favour of the former and current members of the Supervisory Board and the Executive Board of the Company on terms and conditions</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">customary</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">industry</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">operates</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">but,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any event,</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">an</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">indemnity</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">limit</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">less</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">than</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">US$10</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">million</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">otherwise</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">an amount determined by the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Board.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.6pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 10.02</font><font style="font-size: 11pt; font-style: italic;">. Board Members&#8217; Indemnity. </font><font style="font-size: 11pt;">The Company shall indemnify</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">member</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Executive</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the maximum extent permissible by applicable law against all losses and liabilities incurred by him in connection with the execution and discharge of the duties of his office including any loss and liability incurred by him as a former or current director or other officer of the Company in defending any claim or proceedings (whether civil or criminal) in which judgment is given in his favour or in which he is acquitted or in connection with any application under applicable law in which relief is given to him by the court, in accordance with the terms and conditions set forth in each respective indemnity letter and as provided in the Company&#8217;s</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Byelaws.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.6pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;"><br></font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.3pt 181.35pt 0pt 181.6pt; orphans: 0; text-align: center; text-indent: -0.25pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">ARTICLE 11 </font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.3pt 181.35pt 0pt 181.6pt; orphans: 0; text-align: center; text-indent: -0.25pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">M</font><font style="font-size: 9pt;">ISCELLANEOUS</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.01</font><font style="font-size: 11pt; font-style: italic;">. Binding Effect; Assignability; Benefit. </font><font style="font-size: 11pt;">(a) This Agreement shall inure to the benefit of and be binding upon the Parties and their respective heirs, successors, legal representatives and permitted assigns. Any Shareholder that ceases to Beneficially Own at least one of the Company Securities shall cease to be bound by the terms hereof (other than the provisions of </font><font style="font-size: 11pt;">Section 11.02</font><font style="font-size: 11pt;">, </font><font style="font-size: 11pt;">Section 11.03, </font><font style="font-size: 11pt;">Section 11.04</font><font style="font-size: 11pt;">, </font><font style="font-size: 11pt;">Section 11.06</font><font style="font-size: 11pt;">, </font><font style="font-size: 11pt;">Section 11.07</font><font style="font-size: 11pt; letter-spacing: -2pt;">&nbsp;</font><font style="font-size: 11pt;">and&nbsp;</font></font><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.08</font><font style="font-size: 11pt;">).</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 3.2pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Neither</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">nor</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">right,</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">remedy,</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">obligation</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">liability</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">arising hereunder</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">reason</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">hereof</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">assignable</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Party</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">pursuant</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Transfer</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">of JV Securities or otherwise, except in the event Bound Shares (as defined in the Joint Venture</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">Agreement)</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">Transferred</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: 0.45pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">Person</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: 0.5pt;"> </font><font style="font-size: 11pt;">compliance</font><font style="font-size: 11pt; letter-spacing: 0.6pt;"> </font><font style="font-size: 11pt;">with</font></font></p>
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<p style="margin: 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&nbsp;</font></p>
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<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 22.05pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">the terms of the Joint Venture Agreement. Any Person who acquires Bound Shares (as defined in the Joint Venture Agreement) by means of a Transfer in compliance with the Joint Venture Agreement shall execute and deliver to the Company a Joinder Agreement in the form of </font><font style="font-size: 11pt; text-decoration: underline;">Annex H</font><font style="font-size: 11pt;"> hereto and shall thenceforth be a &#8220;Shareholder&#8221;.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.2pt 21.9pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Any Shareholder to which Bound Shares (as defined in the Joint Venture Agreement) originally held by Shell have been Transferred in accordance with the terms of the Joint Venture Agreement shall assume the rights and obligations of Shell under this Agreement and, for the purposes of interpretation of this Agreement, references in this Agreement</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">thereafter</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">interpreted</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">meaning</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Shareholder</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">directly holds such Bound Shares from time to</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">time.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Any Shareholder to which Bound Shares (as defined in the Joint Venture Agreement) originally held by Cosan have been Transferred in accordance with the terms of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Joint</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Venture</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">assume</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">rights</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">obligations</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">under</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">this Agreement and, for the purposes of interpretation of this Agreement, (i) references in this Agreement to Cosan, Cosan S.A. and Cosan Investimentos (as applicable) shall be thereafter interpreted as meaning the Shareholder that directly holds such Bound Shares from time to time, and (ii) if the Shareholder that directly holds such Bound Shares is not Controlled by ROSM and/or a ROSM Qualifying Replacement (as defined in the Joint Venture Agreement) any references to ROSM, a ROSM Qualifying Replacement or Aguassanta in </font><font style="font-size: 11pt; text-decoration: underline;">Annex D</font><font style="font-size: 11pt;"> to this Agreement shall be</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">disregarded.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.35pt 22pt 0pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the Parties, and their respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities</font><font style="font-size: 11pt; letter-spacing: -1.9pt;"> </font><font style="font-size: 11pt;">under or by reason of this</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Agreement.</font></font></p>
<p style="margin: 0.2pt 0pt 0pt 100.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.02</font><font style="font-size: 11pt; font-style: italic;">.</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 2.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">Confidentiality.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 3.35pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Each Party agrees that it shall, and shall cause any Person to whom Confidential Information is disclosed pursuant to paragraph </font><font style="font-size: 11pt;">(i)</font><font style="font-size: 11pt;"> below to, hold strictly confidential all Confidential Information and treat all Confidential Information with the same</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">degree</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">care</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">confidentiality</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">it</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">affords</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">own</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">trade</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">secrets</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">proprietary information. Each Party agrees to use Confidential Information received from any JV Entity only in connection with its investment in the Joint Venture and the transactions contemplated</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Transaction</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Documents,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">purpose,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">except</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">otherwise expressly</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">permitted</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Transaction</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Documents</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">agreed</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">between</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Cosan</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Shell</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and the relevant JV Entity. Each Party agrees that it shall be responsible for any breach of the provisions of this </font><font style="font-size: 11pt;">Section 11.02</font><font style="font-size: 11pt;"> by any of its Representatives to whom it discloses Confidential Information. No Party shall disclose any Confidential Information to any Person, except: </font><font style="font-size: 11pt;">(i) to its own Representatives in the normal course of the performance of their</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">duties;</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">(ii)</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: 0.9pt;"> </font><font style="font-size: 11pt;">extent</font><font style="font-size: 11pt; letter-spacing: 0.95pt;"> </font><font style="font-size: 11pt;">required</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">applicable</font><font style="font-size: 11pt; letter-spacing: 0.9pt;"> </font><font style="font-size: 11pt;">law</font><font style="font-size: 11pt; letter-spacing: 0.8pt;"> </font><font style="font-size: 11pt;">(including</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">complying</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: 1pt;"> </font><font style="font-size: 11pt;">any</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
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<p style="font-size: 11pt; line-height: 127%; margin: 4.6pt 19pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">oral</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">written</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">questions,</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">interrogatories,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">requests</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">information</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">documents,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">subpoena, civil investigative demand or similar process to which a Party is subject; </font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that, unless otherwise prohibited by law, such Party shall give the relevant JV Entity prompt notice of such request(s), to the extent practicable, so that such JV Entity may seek an appropriate</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">protective</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">order</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">similar</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">relief</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">(and</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Party</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">cooperate</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">efforts by such JV Entity, and shall in any event make only the minimum disclosure required by such law)); (iii) to any Person to whom such Party is contemplating a Transfer (as defined in the Joint Venture Agreement) of any JV Securities in compliance with the requirements of the Joint Venture Agreement; (iv) to the extent required to comply with the rules and regulations of any regulatory authority to whose jurisdiction such Party or any of its Affiliates is subject (which may include the U.S. Securities and Exchange Commission, the Brazilian </font><font style="font-size: 11pt; font-style: italic;">Comiss&#227;o de Valores Mobili&#225;rios</font><font style="font-size: 11pt;">, the UK&#8217;s Financial Services Authority or the UK Listing Authority, the Netherlands&#8217; </font><font style="font-size: 11pt; font-style: italic;">Autoriteit Financi&#235;le Markten </font><font style="font-size: 11pt;">or any stock exchange); (v) as at least six members of the Supervisory Board (if the Supervisory Board comprises eight members) or at least ten members of the Supervisory Board (if the Supervisory</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">Board</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">comprises</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">fourteen</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">members)</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">agree;</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Party</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">give the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">relevant</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">JV</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Entity</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Parties</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">advance</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">notice</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">such</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">disclosure; or (vi) in accordance with any other Transaction</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Document.</font></font></p>
<p style="line-height: 11.5pt; margin: 0pt 0pt 0pt 86.85pt; orphans: 0; text-align: justify; text-indent: -30.9pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The provisions of this </font><font style="font-size: 11pt;">Section 11.02</font><font style="font-size: 11pt;"> shall survive termination of</font><font style="font-size: 11pt; letter-spacing: 0.55pt;"> </font><font style="font-size: 11pt;">this</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 3.3pt 21.75pt 0pt 22pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Agreement, but shall expire with respect to a Party on the second anniversary of the date on which such Party ceases to Beneficially Own at least one of the Company Securities; </font><font style="font-size: 11pt; font-style: italic;">provided</font><font style="font-size: 11pt;">, however, that with respect to any competitively sensitive information, the provisions of this </font><font style="font-size: 11pt;">Section 11.02 </font><font style="font-size: 11pt;">shall survive indefinitely.</font></font></p>
<p style="font-size: 12pt; line-height: 126%; margin: 4.8pt 21.65pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.03</font><font style="font-size: 12pt; font-style: italic;">. Notices. </font><font style="font-size: 11pt;">Any communication to be made under or in connection with this Agreement shall be made in the Portuguese and English languages (</font><font style="font-size: 11pt; font-style: italic;">provided </font><font style="font-size: 11pt;">that the Portuguese version shall prevail in the event of conflict),</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">and,</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">unless</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">otherwise</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">stated,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">may</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">made</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">fax,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">via</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">courier service or by email. The address, fax number and email address (and the department or officer, if any, for whose attention the communication is to be made)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Party</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">for</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">communication</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">document</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; letter-spacing: 0.15pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">made</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">delivered under or in connection with this Agreement is identified with its name below, provided,</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">however,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">communication</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">document</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">made</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">delivered to any Affiliate of Cosan S.A. (including Cosan Investimentos) or any Affiliate of Shell shall be made to Cosan S.A. or Shell, respectively, as per the details below. Any Party may substitute such address, fax number, email address or department or officer by notifying the other Parties with not less than five days&#8217; notice. Any communication or document made or delivered by one person to another under or in connection with this Agreement will only be effective: (a)</font><font style="font-size: 11pt; letter-spacing: 1.15pt;"> </font><font style="font-size: 11pt;">if</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">by way of fax, when received in legible form, (b) if by way of courier service, when the courier service has recorded successful delivery at that address; (c) if by way of email, at the time of transmission, provided that such communication or document shall not be effective if the sender receives an automated message that the email has not been delivered to the recipient, and (d) if a particular department</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">officer</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">specified</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">part</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">address</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">details</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">below,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">if</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">addressed to that department or</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">officer.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;"><br></font></font></p>
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<td style="height: 19px; width: 92%;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Company:</font><br></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;">Ra&#237;zen<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;S.A.</font></font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;">Avenida<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Almirante<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Barroso<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,</font></font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">n&#186; 81, 36&#186;&nbsp;</font>andar<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>sala<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;36A104, CEP 20031-004&#8211; Rio de Janeiro/RJ Brazil</font></font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: General Counsel Fax: +55 (11) 23446222</font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Email:&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Antonio.Martins@raizen.com</font></font></td>
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<td style="height: 19px; width: 92%;" colspan="2"><font style="font-size: 11pt;">Cosan<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">:</font></font><br></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;">Cosan<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;S.A.</font></font></td>
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<td style="height: 10px; width: 81.9769%;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Brigadeiro&nbsp;Faria&nbsp;Lima, 4100, 16</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; vertical-align: 4pt;">th&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">floor&nbsp;Itaim&nbsp;Bibi</font></font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP 04538-132</font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazil</font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Marcelo Eduardo Martins; Maria Rita de&nbsp;</font>Carvalho<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Drummond</font></font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Email: Marcelo.Martins@cosan.com;&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">MariaRita.Drummond@cosan.com</font></font></td>
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<td style="height: 17px; width: 10.0231%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Copy to:</font></td>
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<td style="height: 10px; width: 81.9769%;"><font style="font-size: 11pt;">Freshfields<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Bruckhaus<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Deringer<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;LLP&nbsp;</font></font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">100&nbsp;</font>Bishopsgate</font></td>
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<td style="width: 81.9769%; height: 19px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">London&nbsp;</font></td>
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<td style="height: 17px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">EC2P 2SR</font><br></td>
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<td style="width: 81.9769%; height: 19px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">United Kingdom&nbsp;</font></td>
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<td style="width: 81.9769%; height: 19px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: David&nbsp;</font>Sonter</font></td>
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<td style="width: 81.9769%; height: 19px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Email:&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">David.Sonter@freshfields.com</font></font><br></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;">Mattos<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Filho<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>Veiga<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Filho<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>Marrey<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Jr e&nbsp;</font>Quiroga<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Advogados</font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Al.&nbsp;</font>Joaquim<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Eug&#234;nio<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;de Lima, 447</font></font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP: 01403-001 -&nbsp;</font>Jardins<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>S&#227;o<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Paulo &#8211; SP</font></font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazil</font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Marcelo&nbsp;</font>Ricupero</font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Email:&nbsp;</font><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">mricupero@mattosfilho.com.br</font></font></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><font style="font-size: 10pt;" class="pageno"><font class='pageno'>51</font></font></td>
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<td style="height: 19px; width: 92%;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Shell:</font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Shell Brazil Holding B.V.</font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="font-size: 11pt;">Carel<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;van&nbsp;</font>Bylandtlaan<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;30, 2596HR 's-Gravenhage,</font></font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;The Netherlands</font></td>
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<td style="height: 19px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Associate General Counsel, Downstream Portfolio</font></td>
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<td style="height: 10px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Fax: +44 (20) 7934 7509</font></td>
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<td style="height: 17px; width: 10.0231%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Copy to:</font></td>
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<td style="height: 10px; width: 81.9769%;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Clifford Chance</font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;">Rua<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Funchal, 418, 15&#186;&nbsp;</font>andar<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font><br></font></td>
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<td style="width: 81.9769%; height: 19px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">04551-060&nbsp;</font>S&#227;o<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Paulo, SP</font></font></td>
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<td style="height: 17px; width: 81.9769%;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Anthony&nbsp;</font>Oldfield<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">; John Wilkins</font></font></td>
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<td style="width: 81.9769%; height: 19px;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 11pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Email: Anthony.Oldfield@cliffordchance.com;</font></td>
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<td style="width: 81.9769%; height: 19px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">John.Wilkins@cliffordchance.com</font><br></font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;">Cescon<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>Barrieu<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&nbsp;</font>Flesch<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;&amp;&nbsp;</font>Barreto<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Advogados<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;</font>Rua<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Funchal,</font><br></font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">418, 11&#186;&nbsp;</font>andar</font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">CEP: 04551-060&nbsp;</font>S&#227;o<font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;Paulo, SP, Brazil&nbsp;</font></font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;"><font style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Attention: Marcos&nbsp;</font>Flesch</font></td>
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<td style="width: 81.9769%; height: 17px;"><font style="font-size: 11pt;">Email:&nbsp;marcos.flesch@cesconbarrieu.com.br<br></font></td>
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<font style="font-size: 16.5pt;">&nbsp;</font>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Any Person that becomes a Shareholder shall provide its address, fax number and email</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">address</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">Company,</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">promptly</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">provide</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">information</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">each</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">other Shareholder.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.04</font><font style="font-size: 11pt; font-style: italic;">. Waiver; Amendment; Termination. </font><font style="font-size: 11pt;">No provision of this Agreement may be amended, waived or otherwise modified, except by an instrument</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">writing</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">executed</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">with</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">approval</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Supervisory Board and each Shareholder that is a Party at the time of that proposed amendment or modification. In addition, any Party may waive any provision of this Agreement with respect to itself by an instrument in writing executed by the Party against whom the waiver is to be</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">effective.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.05</font><font style="font-size: 11pt; font-style: italic;">. Fees and Expenses. </font><font style="font-size: 11pt;">All costs and expenses incurred in connection with the preparation of this Agreement and the other Transaction Documents, or any amendment or waiver hereof, and the transactions contemplated hereby shall be paid by the Party incurring such costs or expenses.</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.06</font><font style="font-size: 11pt; font-style: italic;">. Governing Language. </font><font style="font-size: 11pt;">This Agreement is drawn up in the Portuguese and English languages. If this Agreement is translated into another language, or if there is a conflict between the Portuguese and English versions, the Portuguese language text prevails.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.2pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.07</font><font style="font-size: 11pt; font-style: italic;">. Governing Law. </font><font style="font-size: 11pt;">This Agreement shall be governed by and construed and enforced in accordance with the laws of the Federative Republic</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">Brazil,</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">without</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">regard</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Laws</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">jurisdiction</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">that</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">might be</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">applied</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">because</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">conflicts</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Laws</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">principles</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Federative</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Republic of</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">Brazil.</font></font></p>
<p style="line-height: 12.4pt; margin: 0pt 0pt 0pt 100.05pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.08</font><font style="font-size: 11pt; font-style: italic;">.</font><font style="font-size: 11pt; font-style: italic; letter-spacing: 2.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">Arbitration.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 3.3pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(a)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Any dispute (a &#8220;</font><font style="font-size: 11pt; font-weight: bold;">Dispute</font><font style="font-size: 11pt;">&#8221;) arising from or connected with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement or the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">consequences</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">its</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">nullity),</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">will</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">referred</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">finally</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">resolved</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">arbitration</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">under the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Arbitration</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">Rules</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">ICC</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">(the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">&#8220;</font><font style="font-size: 11pt; font-weight: bold;">Rules</font><font style="font-size: 11pt;">&#8221;),</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Rules</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">are</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">deemed</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">incorporated by reference into this </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.1pt;"> </font><font style="font-size: 11pt;">11.08</font><font style="font-size: 11pt;">.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.8pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(b)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">tribunal</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">will</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">consist</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">three</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">arbitrators</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">two</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">whom</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">will</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">nominated by the respective parties, and the third, who shall act as chairperson, shall be a national of a member state of the Organisation for Economic Co-operation and Development (except the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">United</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">States</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">America,</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">England</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Netherlands)</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">nominated</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">two arbitrators</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">together</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">(but</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">failing</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">agreement</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">within</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">30</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">days</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">appointment</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">second arbitrator, the third arbitrator shall be appointed by the ICC). The seat of the arbitration will be S&#227;o Paulo, Brazil, and the language of the arbitration will be</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">English.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(c)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The Parties agree that the arbitral tribunal will have power to award on a provisional basis any relief that it would have power to grant on a final</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">award.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 33.95pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(d)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">Without prejudice to the powers of the arbitrator provided by the Rules, statute or otherwise, the arbitrator will have power at any time, on the basis of written evidence and the submissions of the Parties alone, to make an award in favour of the claimant (or the respondent if a counterclaim) in respect of any claims (or counterclaims) to</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">which</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">there</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">is</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">reasonably</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">arguable</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">defence,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">either</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">at</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">all</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">except</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">amount</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">of any damages or other sum to be</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">awarded.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0pt 21.95pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 34.55pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(e)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The Parties agree to keep confidential all materials used in and all awards received</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">a</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">result</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">Dispute</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">proceedings,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">except</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">extent</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">required</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">disclosed by applicable</font><font style="font-size: 11pt; letter-spacing: -0.05pt;"> </font><font style="font-size: 11pt;">law.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 19.1pt 0pt 22pt; orphans: 0; text-align: justify; text-indent: 36.35pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">(f)</font><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-size: 11pt;">The</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">Parties</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">exclude</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">rights</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">refer</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">points</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">law</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">or</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">appeal</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">to</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">courts, to the extent that they can validly waive these</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">rights.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.8pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.09</font><font style="font-size: 11pt; font-style: italic;">. Specific Enforcement. </font><font style="font-size: 11pt;">Each of the Parties acknowledges that the remedies at law of the other Parties for a breach or threatened breach of this</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">would</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">be</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">inadequate</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">and,</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">recognition</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">fact,</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">any</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">Party</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">to</font></font></p>
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<p style="margin: 0.1pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 8pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 4.6pt 21.8pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">this Agreement, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may then be</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">available.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.2pt 21.95pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.10</font><font style="font-size: 11pt; font-style: italic;">. Fraud. </font><font style="font-size: 11pt;">Nothing in this Agreement shall have the effect of limiting or restricting any liability arising as a result of any</font><font style="font-size: 11pt; letter-spacing: -0.9pt;"> </font><font style="font-size: 11pt;">fraud.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.11</font><font style="font-size: 11pt; font-style: italic;">. Counterparts. </font><font style="font-size: 11pt;">This Agreement may be executed in any number of counterparts, each of which is an original and all of which together evidence</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.55pt;"> </font><font style="font-size: 11pt;">same</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">agreement.</font><font style="font-size: 11pt; letter-spacing: 1.5pt;"> </font><font style="font-size: 11pt;">This</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">become</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">effective</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">when</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">each party hereto shall have received counterparts hereof signed by all of the other Parties. Until and unless each Party has received a counterpart hereof signed by each</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">other</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Party,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">this</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">have</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">effect</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">no</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Party</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">have</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">any right or obligation hereunder (whether by virtue of any other oral or written agreement or other</font><font style="font-size: 11pt; letter-spacing: -0.15pt;"> </font><font style="font-size: 11pt;">communication).</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 64pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times; font-size: 11pt; orphans: 0; widows: 0;">Section 11.12.&nbsp;<font style="font-style: italic;">Entire&nbsp;Agreement</font>.&nbsp;This Agreement and the other Transaction Documents constitute the entire agreement and supersede any previous agreement between the Parties relating to the subject matter of this Agreement (including the memorandum of understanding between Cosan, Cosan Limited (a company which has been further merged into Cosan S.A.) and Shell International Petroleum Company Limited dated 31 January 2010 (the &#8220;MOU&#8221;). </font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 64pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times; font-size: 11pt; orphans: 0; widows: 0;">Section 11.13. <font style="font-style: italic;">Severability</font>. The provisions of this Agreement shall be&nbsp; deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or unenforceable, a suitable and equitable provision shall&nbsp;</font><font style="font-family: 'times new roman', times; font-size: 11pt; orphans: 0; widows: 0;"><font>be</font><font> </font><font>substituted</font><font> </font><font>therefor</font><font> </font><font>in</font><font> </font><font>order</font><font> </font><font>to</font><font> </font><font>carry</font><font> </font><font>out,</font><font> </font><font>so</font><font> </font><font>far</font><font> </font><font>as</font><font> </font><font>may</font><font> </font><font>be</font><font> </font><font>valid</font><font> </font><font>and</font><font> </font><font>enforceable, the intent and purpose of such invalid or unenforceable provision and the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.75pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.14</font><font style="font-size: 11pt; font-style: italic;">. Term; Termination. </font><font style="font-size: 11pt;">The Shareholders hereby agree that this</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Agreement</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">remain</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">full</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">force</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">effect,</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">unless</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">terminated</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">by</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">written agreement among the Shareholders, until the later of: (i) the 30</font><font style="font-size: 7pt; vertical-align: 4pt;">th </font><font style="font-size: 11pt;">anniversary of the Effective Date, renewable for an additional 30 years, unless any Shareholder notifies the other Parties of its intention not to renew the Agreement within</font><font style="font-size: 11pt; letter-spacing: 0.2pt;"> </font><font style="font-size: 11pt;">one</font></font></p>
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<p style="margin: 0.4pt 0pt 0pt; orphans: 0; widows: 0;"><font style="font-family: 'times new roman', times; font-size: 11.5pt;">&nbsp;</font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">year before the end of the referred 30</font><font style="font-size: 7pt; vertical-align: 4pt;">th </font><font style="font-size: 11pt;">anniversary; or (ii) one of Shell or Cosan ceases to be the Beneficial Owner of any Company Securities.</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0.15pt 21.85pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.15</font><font style="font-size: 11pt; font-style: italic;">. Records. </font><font style="font-size: 11pt;">For the purposes of Article 118 and its paragraphs</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">of</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Brazilian</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">Corporation</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Law,</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">hereby</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">agree</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">that an executed copy of this Agreement shall be kept at the headquarters of the Company. This Agreement shall be enforced against third parties and the Company itself upon registration of this latter in the Company&#8217;s</font><font style="font-size: 11pt; letter-spacing: -1.15pt;"> </font><font style="font-size: 11pt;">headquarters.</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.25pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.16</font><font style="font-size: 11pt; font-style: italic;">. Legends. </font><font style="font-size: 11pt;">Promptly after the execution of this Agreement and</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">long</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">as</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">it</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">remains</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">effect,</font><font style="font-size: 11pt; letter-spacing: -0.45pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.25pt;"> </font><font style="font-size: 11pt;">Shareholders</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">and</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt;">Company</font><font style="font-size: 11pt; letter-spacing: -0.2pt;"> </font><font style="font-size: 11pt;">shall</font><font style="font-size: 11pt; letter-spacing: -0.3pt;"> </font><font style="font-size: 11pt;">cause the register of nominative shares related to the JV Securities to bear a legend as follows:</font></font></p>
<p style="font-size: 11pt; line-height: 126%; margin: 0pt 57.7pt 0pt 58pt; orphans: 0; text-align: justify; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt; font-style: italic;">&#8220;All of the </font><font style="font-size: 11pt; font-style: italic; font-weight: bold;">[ ] </font><font style="font-size: 11pt; font-style: italic;">shares owned by this Shareholder, including any Transfer (as</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">defined</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; font-style: italic;">in</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">the</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">Shareholders&#8217;</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; font-style: italic;">Agreement)</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">of</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt; font-style: italic;">any</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt; font-style: italic;">such</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt; font-style: italic;">shares,</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">are</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt; font-style: italic;">bound by and subject to the provisions of (i) the Shareholders&#8217; Agreement filed at</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">Ra&#237;zen</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">S.A.&#8217;s</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt; font-style: italic;">headquarters</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">and</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">(ii)</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">the</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">Joint</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.35pt;"> </font><font style="font-size: 11pt; font-style: italic;">Venture</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt; font-style: italic;">Agreement,</font><font style="font-size: 11pt; font-style: italic; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt; font-style: italic;">which provides for certain lock-up provisions, pre-emption provisions, call options and put options, an extract of which is filed at the Company&#8217;s headquarters, dated as of </font><font style="font-size: 11pt; font-style: italic; font-weight: bold;">[</font><font style="font-size: 11pt; font-style: italic; font-weight: bold; letter-spacing: 2.6pt;"> </font><font style="font-size: 11pt; font-style: italic; font-weight: bold;">]</font><font style="font-size: 11pt; font-style: italic;">.&#8221;</font></font></p>
<p style="font-size: 11pt; line-height: 127%; margin: 0.25pt 21.7pt 0pt 64pt; orphans: 0; text-align: justify; text-indent: 36pt; widows: 0;"><font style="font-family: 'times new roman', times;"><font style="font-size: 11pt;">Section 11.17</font><font style="font-size: 11pt; font-style: italic;">. Intervening Party. </font><font style="font-size: 11pt;">The Company is intervening party to this Agreement and shall (a) observe, enforce and be bound by its provisions (including</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">the</font><font style="font-size: 11pt; letter-spacing: -0.75pt;"> </font><font style="font-size: 11pt;">arbitration</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">provisions</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">set</font><font style="font-size: 11pt; letter-spacing: -0.6pt;"> </font><font style="font-size: 11pt;">forth</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.5pt;"> </font><font style="font-size: 11pt;">Section</font><font style="font-size: 11pt; letter-spacing: -0.85pt;"> </font><font style="font-size: 11pt;">11.08</font><font style="font-size: 11pt;">,</font><font style="font-size: 11pt; letter-spacing: -0.8pt;"> </font><font style="font-size: 11pt;">in</font><font style="font-size: 11pt; letter-spacing: -0.7pt;"> </font><font style="font-size: 11pt;">accordance</font><font style="font-size: 11pt; letter-spacing: -0.65pt;"> </font><font style="font-size: 11pt;">with any applicable laws (including the Brazilian Corporation Law)), and (b) refrain from registering, enforcing or acting in any other manner whatsoever in connection with any actions or omissions in breach of this Agreement or any applicable laws (including the Brazilian Corporation</font><font style="font-size: 11pt; letter-spacing: -0.4pt;"> </font><font style="font-size: 11pt;">Law).</font></font></p>
<p style="line-height: 127%; margin: 0.25pt 21.7pt 0pt 64pt; text-align: justify; text-indent: 36pt;"><font style="font-family: 'times new roman', times; font-size: 11pt; orphans: 0; widows: 0;"><font><font>Section 11.18</font><font>. </font><font><font style="font-style: italic;">Legal Representative</font>. </font><font>Shell appoints Mr. Alvaro&nbsp;</font></font><font><font>Alexandre</font><font> </font><font>Freire</font><font> </font><font>Fontes,</font><font> </font><font>a</font><font> </font><font>Brazilian</font><font> </font><font>citizen,</font><font> </font><font>married,</font><font> </font><font>lawyer,</font><font> </font><font>registered</font><font> </font><font>with</font><font> </font><font>the Brazilian Bar Association under N.70.913/RJ, individual taxpayer roll N.838.231.907-68, and with an office at Avenida das Am&#233;ricas, 4200, Bloco 6, 2&#186;</font><font> </font><font>andar,</font><font> </font><font>Barra</font><font> </font><font>da</font><font> </font><font>Tijuca,</font><font> </font><font>Rio</font><font> </font><font>de</font><font> </font><font>Janeiro</font><font> </font><font>&#8211;</font><font> </font><font>RJ,</font><font> </font><font>CEP</font><font> </font><font>22640-102,</font><font> </font><font>Brazil,</font><font> </font><font>and</font><font> </font><font>Cosan appoint Maria Rita de Carvalho Drummond, a citizen of Brazil, married,</font><font> </font><font>lawyer, registered with the OAB of S&#227;o Paulo under no. 265.951, with ID card no. RG/SSP/SP 60.990.387-1, CPF no. 052.815.287-42 and with an office at Av. Brigadeiro Faria Lima, 4100, 15 floor, Itaim Bibi, City of S&#227;o Paulo, State </font><font>of </font><font>S&#227;o Paulo, Zip Code 04538-132, Brazil, as representatives before the Company for the purposes of &#167;10 of article 118 of Brazilian Corporation</font><font> </font><font>Law.</font></font></font></p>
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<DOCUMENT>
<TYPE>EX-4.16
<SEQUENCE>17
<FILENAME>ex416_7.htm
<DESCRIPTION>EXHIBIT 4.16
<TEXT>
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<p style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';"><font style="font-weight: bold;"><font style="margin: 0pt; text-align: right; font-size: 10pt; font-family: 'Times New Roman';">EXHIBIT 4.16</font></font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">PROTOCOL AND JUSTIFICATION OF MERGER</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">OF COSAN INVESTIMENTOS E PARTICIPA&#199;&#213;ES S.A. INTO COSAN S.A.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Through this instrument, the management of:</font></p>
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<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">I.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">COSAN INVESTIMENTOS E PARTICIPA&#199;&#213;ES S.A</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">., with principal place of business at Avenida Brigadeiro Faria Lima, 4100, 16</font><font style="font-family: 'Times New Roman'; font-size: 7.33pt; vertical-align: super;">th</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> floo</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">r, Sala 03, in the City and State of S&#227;o Paulo, enrolled with the CNPJ/ME (National Corporate Taxpayer's Register of the Ministry of Economy) under No. 18.777.673/0001-18 and registered with the Commercial Registry of the State of S&#227;o Paulo - JUCESP, under NIRE (State Registration Number) 35.300.456.173 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">CIP</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">): and</font></p>
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<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">II.</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">COSAN S.A.,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> with principal place of business at Avenida Brigadeiro Faria Lima, 4100, 16</font><font style="font-family: 'Times New Roman'; font-size: 7.33pt; vertical-align: super;">th</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> floo</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">r, Sala 01, in the City and State of S&#227;o Paulo, enrolled with the CNPJ/ME under No. 50.746.577/0001-15 and registered with the Commercial Registry of the State of S&#227;o Paulo - JUCESP, under NIRE 35300177045 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Cosan</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">).</font></p>
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<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">RESOLVE, for all legal purposes and effects, pursuant to articles 224, 225 and 227 of Law 6.404/76 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Corporations Law</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), to sign this Protocol and Justification of Merger of Cosan Investimentos e Participa&#231;&#245;es S.A. into Cosan S.A. (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Protocol and Justification</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), which will be submitted for approval by its respective shareholders, meeting at a Special Meeting of Shareholders, under the following terms and conditions:</font></p>
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<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Description of the Intended Operation.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">1.1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Merger</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. The aim of this Protocol and Justification is to substantiate the justifications, terms and conditions of the merger operation of CIP into Cosan (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Merger</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">).</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">2.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Motives and Justifications for the Merger.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">2.1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">The purpose of the merger of CIP into Cosan is to efficiently segregate the net remaining assets of CIP (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Remaining Assets</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), reducing administrative costs and giving a better accounting view of the assets.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">3.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Appraisal Company, Base Date, Appraisal and Absence of Conflicts.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">3.1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Appraisal Company.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> To prepare the valuation of the Remaining Assets, the specialist company SOPARC - AUDITORES E CONSULTORES S. S. LTDA., a company established in Piracicaba, State of S&#227;o Paulo at Rua 13 de Maio, 797, registered with the CNPJ/ME under No. 03.132.733/0001-78, was chosen (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Appraisal Company</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">), whose appointment will be submitted for ratification by the Special Meetings of Shareholders (Defined Below), pursuant to article 227, paragraph 1, of the Corporations Law.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">3.2.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Appraisal Base Date.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> The Appraisal Company evaluated the Remaining Assets, on October 26, 2021, at their book value, based on CIP</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">'</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">s financial statements, prepared on September 30, 2021 (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Base Date</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">). As a result of its evaluation, the Appraisal Company submitted the appraisal report (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Appraisal Report</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">) to the Companies, which constitutes </font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold; text-decoration: underline;">Exhibit I </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">to this Protocol and Justification, with the amounts specified therein subject to analysis and approval of the Special Meetings of Shareholders of the companies involved, pursuant to Brazilian Corporations Law.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">3.3.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Appraisal</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. The Appraisal Company attributed the value of eight billion, three hundred and eighty-eight million, seven hundred and fifty-four thousand, eight hundred and fifty-three reais and eleven cents (R$ 8,388,754,853.11) to the Remaining Assets.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">3.4.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Absence of Conflicts;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> The Appraisal Company stated that: (a) It is not aware of any conflict of interest, direct or indirect, or of any other circumstance that represents a conflict of interest in relation to the services that were provided, and (b) It is not aware of any action by the controller or the management of the companies, with the aim of directing, limiting, hindering or </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">performing any acts that have or may have compromised access, use or knowledge of information, goods, documents or work methodologies relevant to the quality of the respective conclusions.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">4.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Breakdown of the Companies</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">'</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;"> Capital.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">4.1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">CIP</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">'</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">s Capital.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> On this date, the capital of CIP is four billion, thirty-five million, three hundred and nine thousand and five reais and sixty-eight cents (R$ 4,035,309,005.68), fully subscribed and paid in, represented by three billion, seven hundred and seventy-eight million, eight hundred and sixty-eight thousand, six hundred and forty-three (3,778,868,643) registered shares, with no par value, of which two billion, nine hundred and forty-five million, nine hundred and seventy-five seven thousand, five hundred and seventy-one (2,945,977,571) are common shares and eight hundred and thirty-two million, eight hundred and ninety-one thousand and seventy-two (832,891,072) are shares of preferred stock. All shares issued by CIP are held by Cosan.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">4.2.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">COSAN</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">'</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">s Capital</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. On this date, Cosan's capital is six billion, three hundred and sixty-five million, eight hundred and fifty-two thousand, five hundred and fifty-nine reais and sixty-two cents (R$ 6,365,852,559.62), divided into one billion, eight hundred and seventy-four million, seventy thousand, nine hundred and thirty-two (1,874,070,932) common shares. Cosan's capital will not be changed with the Merger, taking into account that its investment in CIP will be replaced by the merged Remaining Assets.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">5.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Corporate Acts and Right of Dissent.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">5.1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Meetings of the Audit Committee and the Board of Directors</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. The following corporate acts will be practiced within the scope of the Merger:</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Meeting of the COSAN Audit Committee,</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> to be held on October 29, 2021, at which the members of the Audit Committee will issue an opinion on the Merger; and</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Meeting of the Board of Directors of COSAN</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">, to be held on October 29, 2021, at which the members of the Board of Directors, among other related matters, will resolve on the ratification of the signature of this Protocol and Justification, on the Appraisal Report and Merger.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">5.2</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Special Meetings of Shareholders</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. Approval of the Merger will depend on the performance of the following acts:</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(a)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; font-style: italic;">Special Meeting of Shareholders of COSAN:</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> to be held on December 10, 2021 to, among other matters (i) ratify the appointment of the Appraisal Company, (ii) analyze and approve this Protocol and Justification, (iii) analyze and approve the Appraisal Report, (iv) to approve the Merger of CIP into Cosan, and (v) to authorize the performance, by the management, of the acts necessary for the completion of the merger of Cosan Investimentos e Participa&#231;&#245;es S.A. into Cosan (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Special Meeting of Shareholders of Cosan</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">); and</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">(b)</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Special Meeting of Shareholders of CIP: to be held on the same date as the Special Meeting of Shareholders of Cosan to, among other matters, (i) ratify the appointment of the Appraisal Company, (ii) analyze and approve this Protocol and Justification, (iii) analyze and approve the Appraisal Report, (iv) to approve the Merger of CIP into Cosan, and (v) to authorize the performance, by the management, of the acts necessary for the completion of the merger of Cosan Investimentos e Participa&#231;&#245;es S.A. into Cosan (</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Special Meetings of Shareholders of Cosan</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">"</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">);</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 56.7pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">5.3</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Without prejudice to the provisions of Sections 5.1 and 5.2 above, the Companies undertake to perform any and all corporate acts necessary for the approval of the matters indicated above, always in compliance with their respective Articles.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">5.4.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">No Right of Dissent.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> There will be no right of dissent, since Cosan is the holder of all shares issued by CIP.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
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<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">General Provisions</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.1.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Costs.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> Cosan must bear all expenses resulting from the Merger, including expenses with legal and financial advisors, as well as other expenses and payments arising therefrom.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.2.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Irrevocability.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;"> This Protocol and Justification is irrevocable and irreversible, and the obligations assumed by the Companies are also binding on their successors in any capacity, subject, however, to approval thereof by the Special Meetings of Shareholders.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.3.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Severability</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. Should any court declare the nullity or inefficacy of any of the covenants contained in this Protocol and Justification, it will not adversely affect the validity and efficacy of the others, which will be fully complied with, and the companies agree to make every effort to validly achieve the same effects as the covenant that has been annulled or has become ineffective.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.4.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Novation</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">: The failure or delay of either of the companies in exercising any of their rights in this Protocol and Justification must not be considered waiver or novation and does not affect the subsequent exercise of such right. Any waiver will take effect only if specifically granted in writing.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify; text-indent: 28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">6.5.</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Assignment</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">. The assignment of any of the rights and obligations agreed in this Protocol and Justification is prohibited without the prior and express written consent of each of the Companies.</font></p>
<p style="line-height: 12pt; margin: 0pt 0pt 0pt 28.35pt; text-align: justify; text-indent: -28.35pt;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">IN WITNESS WHEREOF, they sign this Protocol and Justification in six (6) identical copies with a single purpose, with the two (2) witnesses identified below.&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">S&#227;o Paulo, October 27, 2021</font><br><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ Maria Rita de Carvalho Drummond </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">Marcelo Eduardo Martins</font></p>
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<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">COSAN S.A.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ Rubens Ometto Silveira Mello</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 11pt;">/s/ Maria Rita de Carvalho Drummond</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 11pt; font-weight: bold;">COSAN INVESTIMENTOS E PARTICIPA&#199;&#213;ES S.A.</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">Witnesses</font><font style="font-family: 'Times New Roman'; font-size: 11pt;">:</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">1. </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">/s/ Josiele Feitosa de Oliveira</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name: Josiele Feitosa de Oliveira</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Identity Card (RG): 49.194.723-9</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Individual Taxpayer's Register (CPF): 404.083.928-51</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">&nbsp;</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">2. </font><font style="font-family: 'Times New Roman'; font-size: 11pt; text-decoration: underline;">/s/ William Lopes Alfredo</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Name: William Lopes Alfredo</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Identity Card (RG): 54.941.654-7</font></p>
<p style="line-height: 12pt; margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 11pt;">Individual Taxpayer's Register (CPF): 478.521.478-36</font></p>
<p style="margin: 0pt; text-align: justify;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>18
<FILENAME>ex81_8.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-align: right;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">EXHIBIT 8.1</font></p>
<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">SUBSIDIARIES OF THE REGISTRANT</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Airport Energy Limited&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">England</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Airport Service Limited&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">England</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Aldwych Temple Venture Capital Limited&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">British Virgin Islands</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ALL &#8211; Am&#233;rica Latina Log&#237;stica Argentina S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Argentina</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ALL &#8211; Am&#233;rica Latina Log&#237;stica Armaz&#233;ns Gerais Ltda.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ALL &#8211; Am&#233;rica Latina Log&#237;stica Central S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Argentina</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ALL &#8211; Am&#233;rica Latina Log&#237;stica Mesopot&#226;mica S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Argentina</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Atl&#226;ntico Participa&#231;&#245;es S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Barrapar Participa&#231;&#245;es S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Boswells S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Uruguay</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brado Log&#237;stica e Participa&#231;&#245;es S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
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<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Rumo S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
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</td>
</tr>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Servicios de Inversi&#243;n Log&#237;stica Integrales S.A. (SISA)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: top; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Argentina</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sinlog Tecnologia em Log&#237;stica S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Stanbridge Group Limited&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
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</td>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Techniques Et Technologies Appliques&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">France</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tellus Brasil Participa&#231;&#245;es S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Terminal de Gran&#233;is do Guaruja S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
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<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Terminal Mar&#237;timo do Guaruja S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Terminal S&#227;o Sim&#227;o S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Terminal XXXIX de Santos S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
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<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Terras da Ponte Alta S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">TRPE &#8211; Terminal de Regaseifica&#231;&#227;o de GNL de Pernambuco Ltda.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">TRSP &#8211; Terminal de Regaseifica&#231;&#227;o de S&#227;o Paulo&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">TUP Porto S&#227;o Lu&#237;s S.A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">UTE Porto de Suape Ltda.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Brazil</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vertical UK LLP&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">England</font></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 9.35pt; text-indent: -9.35pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Wessex Petroleum Limited&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
</td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;"><br></td>
<td style="padding-left: 2.9pt; padding-right: 2.9pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 9.35pt; text-indent: -6.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">England</font></p>
</td>
</tr>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>19
<FILENAME>ex121_9.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT 12.1</font></p>
<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</font></p>
<p style="margin: 0pt 0pt 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">I, Luis Henrique Cals de Beauclair Guimar&#227;es, certify that:</font></p>
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<td style="width: 3%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.</font></td>
<td style="width: 97%; padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">I have reviewed this annual report on Form 20-F of Cosan S.A.;</font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.</font></td>
<td style="padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">3.</font></td>
<td style="padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;</font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">4.</font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt;"><font 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The company</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;</font><font 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</font></font></td>
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<table style="font-size: 10pt; width: 100%; margin-left: 0.1px; font-family: &quot;times new roman&quot;;">

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<td style="width: 2%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font lang="EN-US" style="font-size: 10pt; font-family: 'times new roman', times;"> (a) </font></td>
<td style="width: 95%; padding: 1px 1px 10px;"><font style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><font lang="EN-US" style="font-size: 10pt; font-family: 'times new roman', times;"> (b) </font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="text-indent: -24px;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally</font><font style="text-indent: -24px;">&nbsp;accepted accounting principles</font><font style="text-indent: -24px;">;</font></font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><font lang="EN-US" style="font-size: 10pt; font-family: 'times new roman', times;"> (c) </font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="text-indent: -24px;">Evaluated the effectiveness of the company</font><font style="text-indent: -24px;">&#8217;</font><font style="text-indent: -24px;">s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><font lang="EN-US" style="font-size: 10pt; font-family: 'times new roman', times;"> (d) </font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="text-indent: -24px;">Disclosed in this report any change in the company</font><font style="text-indent: -24px;">&#8217;</font><font style="text-indent: -24px;">s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the company</font><font style="text-indent: -24px;">&#8217;</font><font style="text-indent: -24px;">s internal control over financial reporting; and</font></font></td>
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<td style="width: 97%; padding: 1px 1px 10px;"><font style="font-size: 10pt;"><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">The company</font><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">&#8217;</font><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company</font><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">&#8217;</font><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">s auditors and the audit committee of the company</font><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">&#8217;</font><font style="text-indent: -24px; font-family: &quot;Times New Roman&quot;;">s board of directors (or persons performing the equivalent functions):</font></font></td>
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<td style="width: 2%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-family: &quot;Times New Roman&quot;; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(a)</font></td>
<td style="width: 95%; padding: 1px 1px 10px;"><font style="font-size: 10pt; text-indent: -24px; font-family: &quot;Times New Roman&quot;;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company</font><font style="font-size: 10pt; text-indent: -24px; font-family: &quot;Times New Roman&quot;;">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: &quot;Times New Roman&quot;;">s ability to record, process, summarize and report financial information; and</font></td>
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<td style="vertical-align: top;" valign="top"><font style="font-family: &quot;Times New Roman&quot;; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(b)</font></td>
<td><font style="font-size: 10pt; text-indent: -24px; font-family: &quot;Times New Roman&quot;;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the company</font><font style="font-size: 10pt; text-indent: -24px; font-family: &quot;Times New Roman&quot;;">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: &quot;Times New Roman&quot;;">s internal control over financial reporting.</font></td>
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<p style="margin: 0pt 0pt 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Date: </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">May </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ Luis Henrique Cals de Beauclair Guimar&#227;es</font></p>
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<p style="margin: 0pt 0pt 0pt 36pt; text-indent: -36pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp; &nbsp; &nbsp; &nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Luis Henrique Cals de Beauclair Guimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chief Executive Officer</font></p>
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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>20
<FILENAME>ex122_10.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT 12.2</font></p>
<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</font></p>
<p style="margin: 0pt 0pt 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">I, </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, certify that:</font></p>
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<td style="width: 3%; vertical-align: top;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.</font></td>
<td style="width: 97%; padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">I have reviewed this annual report on Form 20-F of Cosan S.A.;</font></td>
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<td style="vertical-align: top;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.</font></td>
<td style="padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></td>
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<td style="vertical-align: top;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">3.</font></td>
<td style="padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;</font></td>
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<td style="vertical-align: top;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">4.</font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt;"><font 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">The company</font><font style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">&#8217;</font><font 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman';">s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</font></font></td>
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<td style="width: 2%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">(a)</font></td>
<td style="width: 95%; padding: 1px 1px 10px;"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">(b)</font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt;"><font style="text-indent: -24px; font-family: 'Times New Roman';">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted account</font><font style="text-indent: -24px; font-family: 'Times New Roman';">ing&nbsp;principles</font><font style="text-indent: -24px; font-family: 'Times New Roman';">;</font></font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">(c)</font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt;"><font style="text-indent: -24px; font-family: 'Times New Roman';">Evaluated the effectiveness of the company</font><font style="text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="text-indent: -24px; font-family: 'Times New Roman';">s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></font></td>
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<td style="vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-family: 'Times New Roman'; font-size: 10pt; text-indent: -24px; float: none; display: inline !important;">(d)</font></td>
<td style="padding: 1px 1px 10px;"><font style="font-size: 10pt;"><font style="text-indent: -24px; font-family: 'Times New Roman';">Disclosed in this report any change in the company</font><font style="text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="text-indent: -24px; font-family: 'Times New Roman';">s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the company</font><font style="text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="text-indent: -24px; font-family: 'Times New Roman';">s internal control over financial reporting; and</font></font></td>
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<td style="width: 3%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">5.</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&nbsp;</font></td>
<td style="width: 97%; padding: 1px 1px 10px;"><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">The company</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">s auditors and the audit committee of the company</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">s board of directors (or persons performing the equivalent functions):</font></td>
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<td style="width: 2%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">(a)</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&nbsp;</font></td>
<td style="width: 95%; padding: 1px 1px 10px;"><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">s ability to record, process, summarize and report financial information; and</font></td>
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<td style="vertical-align: top;" valign="top"><font style="font-family: 'Times New Roman'; font-size: 13.3333px; text-indent: -24px; float: none; display: inline !important;">(b)</font></td>
<td><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">Any fraud, whether or not material, that involves management or other employees who have a significant role in the company</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">&#8217;</font><font style="font-size: 10pt; text-indent: -24px; font-family: 'Times New Roman';">s internal control over financial reporting.</font></td>
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<p style="margin: 0pt 0pt 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Date: </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">May </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chief Financial Officer</font></p>
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<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>21
<FILENAME>ex131_11.htm
<DESCRIPTION>EXHIBIT 13.1
<TEXT>
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<p style="margin: 0pt 0pt 10pt; page-break-after: avoid; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT 13.1</font></p>
<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">AS ADOPTED PURSUANT TO</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The certification set forth below is being submitted in connection with the Annual Report on Form 20-F for the fis</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2021</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> (the </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Report</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">) for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Exchange Act</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">) and Section 1350 of Chapter 63 of Title 18 of the United States Code, as adopted pursuant to section 906 of the U.S. Sarbanes Oxley Act of 2002.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">I, Luis Henrique Cals de Beauclair Guimar&#227;es, the Chief Executive Officer of Cosan S.A., certify that, to the best of my knowledge:</font></p>
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<td style="width: 2%; vertical-align: top; padding: 1px 1px 10px;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.</font></td>
<td style="width: 95%; padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and</font></td>
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<td><br></td>
<td style="vertical-align: top;" valign="top"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.</font></td>
<td><font style="font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of&nbsp;</font>Cosan<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;S.A.</font></font></td>
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<p style="margin: 0pt 0pt 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Date: </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">May </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">By:</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ Luis Henrique Cals de Beauclair Guimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt 0pt 0pt 35.65pt; text-indent: -35.65pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Luis Henrique Cals de Beauclair Guimar&#227;es</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chief Executive Officer</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<html><body><div><div style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="margin: 0pt; text-align: right;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; text-align: right;">EXHIBIT 13.2</font></p>
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<p style="margin: 10pt 0pt; page-break-after: avoid; text-align: center;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">AS ADOPTED PURSUANT TO</font><br><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">The certification set forth below is being submitted in connection with the Annual Report on Form 20-F for the fis</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">cal year ended December 31, 2021</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> (the </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Report</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">) for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8220;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Exchange Act</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#8221;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">) and Section 1350 of Chapter 63 of Title 18 of the United States Code, as adopted pursuant to section 906 of the U.S. Sarbanes Oxley Act of 2002.</font></p>
<p style="margin: 0pt 0pt 10pt; text-indent: 18pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">I, </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, the Chief Financial Officer of Cosan S.A., certify that, to the best of my knowledge:</font></p>
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<td style="width: 3%; padding: 1px 1px 10px;"><br></td>
<td style="width: 2%; padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">1.</font></td>
<td style="width: 95%; padding: 1px 1px 10px;"><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and</font></td>
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<td><br></td>
<td><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: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2.</font></td>
<td><font style="font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of&nbsp;</font>Cosan<font style="color: #000000; font-family: 'Times New Roman'; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&nbsp;S.A.</font></font></td>
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<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><br></p>
<p style="margin: 0pt 0pt 10pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Date: </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">May </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">13</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, 2022</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">By:</font></p>
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<td style="padding-left: 5.75pt; padding-right: 5.75pt; vertical-align: top; width: 35%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">/s/ </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</font></p>
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<td style="padding-left: 5.75pt; padding-right: 5.75pt; vertical-align: top; width: 60%;"><br></td>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Name:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Ricardo Lewin</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;</font></p>
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<p style="margin: 0pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Title:</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="font-family: 'Times New Roman'; font-size: 10pt;">Chief Financial Officer</font></p>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cover Page<br></strong></div></th>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">BR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">1,868,630,160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_IcfrAuditorAttestationFlag', window );">ICFR Auditor Attestation Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentAccountingStandard', window );">Document Accounting Standard</a></td>
<td class="text">International Financial Reporting Standards<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AuditorName', window );">Auditor Name</a></td>
<td class="text">Ernst & Young Auditores Independentes S.S.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AuditorFirmId', window );">Auditor Firm ID</a></td>
<td class="text">1448<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AuditorLocation', window );">Auditor Location</a></td>
<td class="text">S&#227;o Paulo, Brazil<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember', window );">Business Contact [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_ContactPersonnelName', window );">Contact Personnel Name</a></td>
<td class="text">Ricardo Lewin<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Av.&#160;Brigadeiro Faria Lima, 4,100 &#8211; 16th floor<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">S&#227;o Paulo<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">04538-132<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">BR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">+55 11<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">3897-9797<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationDocumentAxis=csan_CommonSharesMember', window );">Common Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common shares, no par value<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationDocumentAxis=dei_AdrMember', window );">ADR [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">CSAN<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">American depositary shares, each representing four common shares, no par value<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorFirmId">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>PCAOB issued Audit Firm Identifier</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorFirmId</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:nonemptySequenceNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorLocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorLocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of contact personnel</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAccountingStandard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAccountingStandard</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:accountingStandardItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAnnualReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an annual report.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAnnualReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentRegistrationStatement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a registration statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentRegistrationStatement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentShellCompanyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentShellCompanyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_IcfrAuditorAttestationFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_IcfrAuditorAttestationFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationDocumentAxis=csan_CommonSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">dei_DocumentInformationDocumentAxis=csan_CommonSharesMember</td>
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<td>na</td>
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<TYPE>XML
<SEQUENCE>24
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964498663128">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated statement of financial position - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">R$ 16,174,130<span></span>
</td>
<td class="nump">R$ 13,642,918<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsNotClassifiedAsCashEquivalents', window );">Marketable securities</a></td>
<td class="nump">4,372,696<span></span>
</td>
<td class="nump">3,669,109<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">2,580,776<span></span>
</td>
<td class="nump">2,007,140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">194,878<span></span>
</td>
<td class="nump">587,894<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="nump">1,149,304<span></span>
</td>
<td class="nump">935,264<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties', window );">Receivables from related parties</a></td>
<td class="nump">98,280<span></span>
</td>
<td class="nump">680,049<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Income tax receivable</a></td>
<td class="nump">442,957<span></span>
</td>
<td class="nump">316,452<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax', window );">Other current tax receivable</a></td>
<td class="nump">921,472<span></span>
</td>
<td class="nump">785,367<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DividendsReceivable1', window );">Dividend receivable</a></td>
<td class="nump">519,965<span></span>
</td>
<td class="nump">80,755<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CurrentSectorFinancialAssets', window );">Sector financial assets</a></td>
<td class="nump">489,601<span></span>
</td>
<td class="nump">241,749<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="nump">466<span></span>
</td>
<td class="nump">69,126<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentAssets', window );">Other current assets</a></td>
<td class="nump">348,658<span></span>
</td>
<td class="nump">419,045<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Total current assets</a></td>
<td class="nump">27,293,183<span></span>
</td>
<td class="nump">23,434,868<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">165,077<span></span>
</td>
<td class="nump">26,301<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_LongtermDepositsNotClassifiedAsCashEquivalents', window );">Marketable securities</a></td>
<td class="nump">15,311<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">58,990<span></span>
</td>
<td class="nump">34,562<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">3,051,628<span></span>
</td>
<td class="nump">1,900,241<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesDueFromRelatedParties', window );">Receivables from related parties</a></td>
<td class="nump">318,211<span></span>
</td>
<td class="nump">249,641<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsNoncurrent', window );">Income tax receivable</a></td>
<td class="nump">344,059<span></span>
</td>
<td class="nump">41,543<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax', window );">Other non-current tax receivable</a></td>
<td class="nump">1,879,695<span></span>
</td>
<td class="nump">957,671<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermDeposits', window );">Judicial deposits</a></td>
<td class="nump">923,061<span></span>
</td>
<td class="nump">875,842<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">4,538,048<span></span>
</td>
<td class="nump">7,552,806<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_NonCurrentSectorFinancialAssets', window );">Sector financial assets</a></td>
<td class="nump">68,709<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentAssets', window );">Other non-current assets</a></td>
<td class="nump">179,598<span></span>
</td>
<td class="nump">278,918<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="nump">319,727<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments in associates</a></td>
<td class="nump">780,067<span></span>
</td>
<td class="nump">383,851<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures</a></td>
<td class="nump">10,936,663<span></span>
</td>
<td class="nump">7,988,208<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">16,648,553<span></span>
</td>
<td class="nump">14,068,506<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentContractAssets', window );">Contract asset</a></td>
<td class="nump">705,982<span></span>
</td>
<td class="nump">695,938<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">7,947,267<span></span>
</td>
<td class="nump">7,916,230<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentProperty', window );">Investment property</a></td>
<td class="nump">3,886,696<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">17,781,498<span></span>
</td>
<td class="nump">17,308,439<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Total non-current assets</a></td>
<td class="nump">70,548,840<span></span>
</td>
<td class="nump">60,278,697<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">97,842,023<span></span>
</td>
<td class="nump">83,713,565<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermBorrowings', window );">Loans, borrowings and debentures</a></td>
<td class="nump">4,241,368<span></span>
</td>
<td class="nump">4,929,069<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_FinanceLeaseLiabilitiesCurrent', window );">Leases</a></td>
<td class="nump">405,820<span></span>
</td>
<td class="nump">531,410<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">925,650<span></span>
</td>
<td class="nump">321,890<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">3,253,504<span></span>
</td>
<td class="nump">2,630,054<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan', window );">Employee benefits payables</a></td>
<td class="nump">552,991<span></span>
</td>
<td class="nump">336,466<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Income tax payables</a></td>
<td class="nump">71,224<span></span>
</td>
<td class="nump">386,122<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax', window );">Other taxes payable</a></td>
<td class="nump">536,220<span></span>
</td>
<td class="nump">417,326<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDividendPayables', window );">Dividends payable</a></td>
<td class="nump">799,634<span></span>
</td>
<td class="nump">1,413,222<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CurrentConcessionsPayables', window );">Concessions payable</a></td>
<td class="nump">160,771<span></span>
</td>
<td class="nump">158,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to related parties</a></td>
<td class="nump">287,609<span></span>
</td>
<td class="nump">307,080<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CurrentSectorFinancialLiabilities', window );">Sector financial liabilities</a></td>
<td class="nump">85,866<span></span>
</td>
<td class="nump">91,912<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="nump">726,423<span></span>
</td>
<td class="nump">562,763<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentLiabilities', window );">Other current liabilities</a></td>
<td class="nump">909,956<span></span>
</td>
<td class="nump">460,975<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Total current liabilities</a></td>
<td class="nump">12,957,036<span></span>
</td>
<td class="nump">12,546,994<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Loans, borrowings and debentures</a></td>
<td class="nump">41,417,669<span></span>
</td>
<td class="nump">37,320,391<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_FinanceLeaseLiabilitiesNonCurrent', window );">Leases</a></td>
<td class="nump">2,861,858<span></span>
</td>
<td class="nump">2,470,437<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PreferredShareholdersPayableSubsidiariesNonCurrent', window );">Preferred shareholders payable in subsidiaries</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">387,044<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">150,511<span></span>
</td>
<td class="nump">124,171<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax', window );">Other taxes payable</a></td>
<td class="nump">146,889<span></span>
</td>
<td class="nump">149,018<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermLegalProceedingsProvision', window );">Provision for legal proceedings</a></td>
<td class="nump">1,644,061<span></span>
</td>
<td class="nump">1,360,898<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_NoncurrentConcessionsPayables', window );">Concessions payable</a></td>
<td class="nump">2,893,477<span></span>
</td>
<td class="nump">2,824,637<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">31,425<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan', window );">Post-employment benefits</a></td>
<td class="nump">669,475<span></span>
</td>
<td class="nump">728,734<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,818,056<span></span>
</td>
<td class="nump">3,691,132<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_NonCurrentSectorFinancialLiabilities', window );">Sector financial liabilities</a></td>
<td class="nump">1,286,417<span></span>
</td>
<td class="nump">473,999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities', window );">Deferred revenue</a></td>
<td class="nump">36,440<span></span>
</td>
<td class="nump">43,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Other non-current liabilities</a></td>
<td class="nump">1,090,112<span></span>
</td>
<td class="nump">742,818<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Total non-current liabilities</a></td>
<td class="nump">56,014,965<span></span>
</td>
<td class="nump">50,347,704<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="nump">68,972,001<span></span>
</td>
<td class="nump">62,894,698<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Shareholders' equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Share capital</a></td>
<td class="nump">6,365,853<span></span>
</td>
<td class="nump">5,328<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TreasuryShares', window );">Treasury shares</a></td>
<td class="num">(69,064)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AccumulatedAdjustmentsOfAdditionalPaidinCapital', window );">Additional paid-in capital</a></td>
<td class="num">(1,690,235)<span></span>
</td>
<td class="nump">2,007,356<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AccumulatedOtherComprehensiveIncome', window );">Accumulated other comprehensive loss</a></td>
<td class="num">(521,609)<span></span>
</td>
<td class="num">(1,524,027)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Retained earnings</a></td>
<td class="nump">10,655,992<span></span>
</td>
<td class="nump">4,771,426<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ShareholdersEquityAttributableToAbstract', window );"><strong>Equity attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Owners of the Company</a></td>
<td class="nump">14,740,937<span></span>
</td>
<td class="nump">5,260,083<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">14,129,085<span></span>
</td>
<td class="nump">15,558,784<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total shareholders' equity</a></td>
<td class="nump">28,870,022<span></span>
</td>
<td class="nump">20,818,867<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total shareholders' equity and liabilities</a></td>
<td class="nump">R$ 97,842,023<span></span>
</td>
<td class="nump">R$ 83,713,565<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AccumulatedAdjustmentsOfAdditionalPaidinCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing accumulated adjustments of additional paid in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AccumulatedAdjustmentsOfAdditionalPaidinCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CurrentConcessionsPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current concessions payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CurrentConcessionsPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CurrentSectorFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current portion of sector financial assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CurrentSectorFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CurrentSectorFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current portion of sector financial liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CurrentSectorFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_DividendsReceivable1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dividends receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_DividendsReceivable1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_FinanceLeaseLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of finance lease liabilities current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_FinanceLeaseLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_FinanceLeaseLiabilitiesNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of finance lease liabilities non current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_FinanceLeaseLiabilitiesNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_LongtermDepositsNotClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current portion of deposits not classified as cash equivalents held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_LongtermDepositsNotClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_NonCurrentSectorFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current portion of sector financial assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_NonCurrentSectorFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_NonCurrentSectorFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current portion of sector financial liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_NonCurrentSectorFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_NoncurrentConcessionsPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Noncurrent concessions payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_NoncurrentConcessionsPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PreferredShareholdersPayableSubsidiariesNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Preferred shareholders payable subsidiaries non current</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PreferredShareholdersPayableSubsidiariesNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ShareholdersEquityAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shareholders Equity Attributable to [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ShareholdersEquityAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccumulatedOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccumulatedOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDividendPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current dividend payables. [Refer: Dividend payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDividendPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.
Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables on social security and taxes other than incomes tax. [Refer: Payables on social security and taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables from taxes other than income tax. [Refer: Receivables from taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current net defined benefit liability. [Refer: Net defined benefit liability]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentRecognisedLiabilitiesDefinedBenefitPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2021-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2021-01-01<br> -Paragraph 76<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=40&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_76&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2021-01-01<br> -Paragraph 79<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=40&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_79_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in joint ventures accounted for using the equity method. [Refer: Joint ventures [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of long-term deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermLegalProceedingsProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provision for legal proceedings. [Refer: Legal proceedings provision]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2021-01-01<br> -Section Example 10 A court case<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2021-en-r&amp;doctype=Illustrative%20Examples&amp;dita_xref=IAS37_IE_C_ex10__IAS37_IE_C_ex10_TI<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2021-01-01<br> -Paragraph 87<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_87&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermLegalProceedingsProvision</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2021-01-01<br> -Paragraph 22<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current contract assets. [Refer: Contract assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2021-01-01<br> -Paragraph 105<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentContractAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current deferred income including non-current contract liabilities. [Refer: Deferred income including contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDeferredIncomeIncludingNoncurrentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current payables on social security and taxes other than incomes tax. [Refer: Payables on social security and taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from taxes other than income tax. [Refer: Receivables from taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current net defined benefit liability. [Refer: Net defined benefit liability]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRecognisedLiabilitiesDefinedBenefitPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current assets that the entity does not separately disclose in the same statement or note. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets that the entity does not separately disclose in the same statement or note. [Refer: Other financial assets; Current financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities; Current financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B13<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B13_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets that the entity does not separately disclose in the same statement or note. [Refer: Non-current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets that the entity does not separately disclose in the same statement or note. [Refer: Other financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B13<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B13_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2021-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2021-01-01<br> -Paragraph 53<br> -Subparagraph j<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsNotClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term deposits held by the entity that are not classified as cash equivalents. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsNotClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables due to related parties. [Refer: Related parties [member]; Payables to related parties]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of payment due to suppliers for goods and services used in entity's business. [Refer: Current liabilities; Trade payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 70<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>An entity&#8217;s own equity instruments, held by the entity or other members of the consolidated group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2021-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964499680632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated statement of profit or loss and other comprehensive income - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatementOfComprehensiveIncomeAbstract', window );"><strong>Consolidated statement of profit or loss and other comprehensive income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="nump">R$ 25,865,001<span></span>
</td>
<td class="nump">R$ 20,437,835<span></span>
</td>
<td class="nump">R$ 20,611,409<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="num">(19,864,248)<span></span>
</td>
<td class="num">(14,999,823)<span></span>
</td>
<td class="num">(14,616,985)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="nump">6,000,753<span></span>
</td>
<td class="nump">5,438,012<span></span>
</td>
<td class="nump">5,994,424<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_SellingExpenses', window );">Selling expenses</a></td>
<td class="num">(723,419)<span></span>
</td>
<td class="num">(661,907)<span></span>
</td>
<td class="num">(666,114)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_GeneralAndAdministrativeExpenses', window );">General and administrative expenses</a></td>
<td class="num">(1,572,357)<span></span>
</td>
<td class="num">(1,589,819)<span></span>
</td>
<td class="num">(1,236,062)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other expenses, net</a></td>
<td class="nump">382,600<span></span>
</td>
<td class="nump">176,869<span></span>
</td>
<td class="nump">404,686<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Operating expenses</a></td>
<td class="num">(1,913,176)<span></span>
</td>
<td class="num">(2,074,857)<span></span>
</td>
<td class="num">(1,497,490)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Profit before equity in earnings of investees, finance results and income taxes</a></td>
<td class="nump">4,087,577<span></span>
</td>
<td class="nump">3,363,155<span></span>
</td>
<td class="nump">4,496,934<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Interest in earnings of associates</a></td>
<td class="nump">130,225<span></span>
</td>
<td class="nump">28,801<span></span>
</td>
<td class="nump">1,231<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Interest in earnings of joint ventures</a></td>
<td class="nump">4,590,631<span></span>
</td>
<td class="nump">583,001<span></span>
</td>
<td class="nump">1,131,406<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Equity in earnings of investees</a></td>
<td class="nump">4,720,856<span></span>
</td>
<td class="nump">611,802<span></span>
</td>
<td class="nump">1,132,637<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance expense</a></td>
<td class="num">(2,527,506)<span></span>
</td>
<td class="num">(4,727,561)<span></span>
</td>
<td class="num">(3,690,578)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="nump">1,258,441<span></span>
</td>
<td class="nump">407,710<span></span>
</td>
<td class="nump">974,604<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax', window );">Foreign exchange, net</a></td>
<td class="num">(1,099,536)<span></span>
</td>
<td class="num">(3,258,656)<span></span>
</td>
<td class="num">(526,946)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Net effect of derivatives</a></td>
<td class="num">(188,956)<span></span>
</td>
<td class="nump">5,594,511<span></span>
</td>
<td class="nump">1,275,297<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Finance results, net</a></td>
<td class="num">(2,557,557)<span></span>
</td>
<td class="num">(1,983,996)<span></span>
</td>
<td class="num">(1,967,623)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Profit before income taxes</a></td>
<td class="nump">6,250,876<span></span>
</td>
<td class="nump">1,990,961<span></span>
</td>
<td class="nump">3,661,948<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract', window );"><strong>Income taxes</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Current</a></td>
<td class="num">(787,602)<span></span>
</td>
<td class="num">(941,363)<span></span>
</td>
<td class="num">(1,000,057)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Deferred</a></td>
<td class="nump">1,233,186<span></span>
</td>
<td class="nump">438,696<span></span>
</td>
<td class="nump">220,461<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income Taxes</a></td>
<td class="nump">445,584<span></span>
</td>
<td class="num">(502,667)<span></span>
</td>
<td class="num">(779,596)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperations', window );">Profit from continuing operations</a></td>
<td class="nump">6,696,460<span></span>
</td>
<td class="nump">1,488,294<span></span>
</td>
<td class="nump">2,882,352<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromDiscontinuedOperations', window );">Profit from discontinued operation, net of tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">11,021<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">6,696,460<span></span>
</td>
<td class="nump">1,488,294<span></span>
</td>
<td class="nump">2,893,373<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract', window );"><strong>Items that will not be reclassified to profit or loss</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Actuarial (gain) loss on defined benefit plan</a></td>
<td class="nump">63,382<span></span>
</td>
<td class="num">(55,777)<span></span>
</td>
<td class="num">(117,302)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations', window );">Taxes over actuarial (gain) loss on defined benefit plan</a></td>
<td class="num">(21,550)<span></span>
</td>
<td class="nump">18,964<span></span>
</td>
<td class="nump">35,590<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax', window );">Items that will never be reclassified to profit or loss</a></td>
<td class="nump">41,832<span></span>
</td>
<td class="num">(36,813)<span></span>
</td>
<td class="num">(81,712)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract', window );"><strong>Items that are or may be reclassified subsequently to profit or loss</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation differences</a></td>
<td class="nump">89,848<span></span>
</td>
<td class="num">(42,767)<span></span>
</td>
<td class="nump">27,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges', window );">Loss on cash flow hedge</a></td>
<td class="num">(601,415)<span></span>
</td>
<td class="num">(526,099)<span></span>
</td>
<td class="num">(256,486)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets', window );">Change in fair value of financial assets</a></td>
<td class="nump">2,269<span></span>
</td>
<td class="nump">278<span></span>
</td>
<td class="nump">192<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Items that are or may be reclassified subsequently to profit or loss</a></td>
<td class="num">(509,298)<span></span>
</td>
<td class="num">(568,588)<span></span>
</td>
<td class="num">(228,506)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Total other comprehensive loss, net of tax</a></td>
<td class="num">(467,466)<span></span>
</td>
<td class="num">(605,401)<span></span>
</td>
<td class="num">(310,218)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income for the year</a></td>
<td class="nump">6,228,994<span></span>
</td>
<td class="nump">882,893<span></span>
</td>
<td class="nump">2,583,155<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToAbstract', window );"><strong>Profit attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Owners of the Company</a></td>
<td class="nump">6,312,140<span></span>
</td>
<td class="nump">859,482<span></span>
</td>
<td class="nump">1,316,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">384,320<span></span>
</td>
<td class="nump">628,812<span></span>
</td>
<td class="nump">1,577,032<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">6,696,460<span></span>
</td>
<td class="nump">1,488,294<span></span>
</td>
<td class="nump">2,893,373<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Total comprehensive income attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Owners of the Company</a></td>
<td class="nump">5,932,760<span></span>
</td>
<td class="nump">140,926<span></span>
</td>
<td class="nump">1,098,043<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">296,234<span></span>
</td>
<td class="nump">741,967<span></span>
</td>
<td class="nump">1,485,112<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income for the year</a></td>
<td class="nump">R$ 6,228,994<span></span>
</td>
<td class="nump">R$ 882,893<span></span>
</td>
<td class="nump">R$ 2,583,155<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic</a></td>
<td class="nump">R$ 3.4407<span></span>
</td>
<td class="nump">R$ 0.4685<span></span>
</td>
<td class="nump">R$ 0.7175<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted</a></td>
<td class="nump">3.4291<span></span>
</td>
<td class="nump">0.4637<span></span>
</td>
<td class="nump">0.7111<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_EarningsLossPerShareFromContinuingOperationsAbstract', window );"><strong>Earnings per share from continuing operations</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations', window );">Basic</a></td>
<td class="nump">3.4407<span></span>
</td>
<td class="nump">0.4685<span></span>
</td>
<td class="nump">0.7115<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations', window );">Diluted</a></td>
<td class="nump">R$ 3.4291<span></span>
</td>
<td class="nump">R$ 0.4637<span></span>
</td>
<td class="nump">R$ 0.7051<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_EarningsLossPerShareFromContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_EarningsLossPerShareFromContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_GeneralAndAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>General and administrative expenses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_GeneralAndAdministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_SellingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Selling expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_SellingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax effect on actuarial gains losses on defined benefit obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_TaxEffectOnActuarialGainsLossesOnDefinedBenefitObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 67<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Basic earnings (loss) per share from continuing operations. [Refer: Basic earnings (loss) per share; Continuing operations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 67<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of all expenses directly or indirectly attributed to the goods or services sold. Attributed expenses include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, such as depreciation and maintenance of factory buildings and equipment used in the production process, unallocated production overheads, and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 80<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 67<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Diluted earnings (loss) per share from continuing operations. [Refer: Continuing operations [member]; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2021-01-01<br> -Paragraph 67<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, before tax, before reclassification adjustments. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2021-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, after reclassification adjustments, related to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income, before tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_91_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_7&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, after reclassification adjustments, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income, before tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, after reclassification adjustments, related to exchange differences on translation of financial statements of foreign operations. [Refer: Other comprehensive income, before tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)] [Contrast: Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2021-01-01<br> -Paragraph 135<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will not be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2021-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2021-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2021-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations. [Refer: Continuing operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_vi&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from discontinued operations. [Refer: Discontinued operations [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_vii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82<br> -Subparagraph ea<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82_ea&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 98<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_98_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromDiscontinuedOperations</td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2021-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2021-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2021-en-b&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 82<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_StatementOfComprehensiveIncomeAbstract</td>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964480091240">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated statement of changes in equity - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Adjustment on initial application of IFRS 16 [member]</div></th>
<th class="th"><div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div></th>
<th class="th"><div>Share capital [member]</div></th>
<th class="th">
<div>Share capital [member] </div>
<div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div>
</th>
<th class="th"><div>Treasury shares [member]</div></th>
<th class="th"><div>Additional paid-in capital [member]</div></th>
<th class="th">
<div>Additional paid-in capital [member] </div>
<div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div>
</th>
<th class="th"><div>Accumulated other comprehensive income [member]</div></th>
<th class="th">
<div>Accumulated other comprehensive income [member] </div>
<div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div>
</th>
<th class="th"><div>Retained earnings [member]</div></th>
<th class="th">
<div>Retained earnings [member] </div>
<div>Adjustment on initial application of IFRS 16 [member]</div>
</th>
<th class="th">
<div>Retained earnings [member] </div>
<div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div>
</th>
<th class="th"><div>Equity attributable to owners of the company [member]</div></th>
<th class="th">
<div>Equity attributable to owners of the company [member] </div>
<div>Adjustment on initial application of IFRS 16 [member]</div>
</th>
<th class="th">
<div>Equity attributable to owners of the company [member] </div>
<div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div>
</th>
<th class="th"><div>Non-controlling interest [member]</div></th>
<th class="th">
<div>Non-controlling interest [member] </div>
<div>Adjustment on initial application of IFRS 16 [member]</div>
</th>
<th class="th">
<div>Non-controlling interest [member] </div>
<div>Opening balance after adjustment, cumulative effect at date of initial application [member]</div>
</th>
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<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Beginning balance at Dec. 31, 2018</a></td>
<td class="nump">R$ 17,969,356<span></span>
</td>
<td class="num">R$ (475,391)<span></span>
</td>
<td class="nump">R$ 17,493,965<span></span>
</td>
<td class="nump">R$ 5,328<span></span>
</td>
<td class="nump">R$ 5,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,112,274<span></span>
</td>
<td class="nump">R$ 3,112,274<span></span>
</td>
<td class="num">R$ (587,173)<span></span>
</td>
<td class="num">R$ (587,173)<span></span>
</td>
<td class="nump">R$ 4,083,974<span></span>
</td>
<td class="num">R$ (97,971)<span></span>
</td>
<td class="nump">R$ 3,986,003<span></span>
</td>
<td class="nump">R$ 6,614,403<span></span>
</td>
<td class="num">R$ (97,971)<span></span>
</td>
<td class="nump">R$ 6,516,432<span></span>
</td>
<td class="nump">R$ 11,354,953<span></span>
</td>
<td class="num">R$ (377,420)<span></span>
</td>
<td class="nump">R$ 10,977,533<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">2,893,373<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,316,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,316,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,577,032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAbstract', window );"><strong>Other comprehensive income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Loss on cash flow hedge</a></td>
<td class="num">(256,486)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(155,007)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(155,007)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(101,479)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation differences</a></td>
<td class="nump">27,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,220)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,220)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Actuarial loss on defined benefit plan</a></td>
<td class="num">(81,712)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(52,189)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(52,189)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(29,523)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets', window );">Change in fair value of financial assets</a></td>
<td class="nump">192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">118<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">118<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ComprehensiveIncomeFromContinuingOperation', window );">Total comprehensive income for the year</a></td>
<td class="nump">2,583,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(218,298)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,316,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,098,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,485,112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ContributionsByAndDistributionsToOwnersOfParentAbstract', window );"><strong>Transactions with owners of the Company Contributions and distributions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary', window );">Capital increase in subsidiary</a></td>
<td class="num">(11,938)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,938)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests', window );">Dividends - non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,650)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,650)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Share options exercised</a></td>
<td class="num">(13,113)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,811)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,811)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,302)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends</a></td>
<td class="num">(243,317)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(243,317)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfTreasuryShares', window );">Treasury shares acquired</a></td>
<td class="num">(1,141,302)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,141,302)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,141,302)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payment transactions</a></td>
<td class="nump">42,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CommonStockDividendsDeclared', window );">Prescribed dividends</a></td>
<td class="nump">20,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,252<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ContributionsByAndDistributionsToOwnersOfParent', window );">Total contributions and distributions</a></td>
<td class="num">(1,346,697)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,122,541)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,110,042)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(236,655)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TransactionsWithOwnersOfParentAbstract', window );"><strong>Changes in ownership interests</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Change of shareholding interest in subsidiary</a></td>
<td class="num">(2,489,942)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,102,568)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,102,568)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,387,374)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Total changes in ownership interests</a></td>
<td class="num">(2,489,942)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,102,568)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,102,568)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,387,374)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Total transactions with owners of the Company</a></td>
<td class="num">(3,836,639)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,225,109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,212,610)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,624,029)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Ending balance at Dec. 31, 2019</a></td>
<td class="nump">16,240,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">887,165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(805,471)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,314,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,401,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,838,616<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">1,488,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">859,482<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">859,482<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">628,812<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAbstract', window );"><strong>Other comprehensive income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Loss on cash flow hedge</a></td>
<td class="num">(526,099)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(345,185)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(345,185)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(180,914)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation differences</a></td>
<td class="num">(42,767)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(373,135)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(373,135)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">330,368<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Actuarial loss on defined benefit plan</a></td>
<td class="num">(36,813)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(421)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(421)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(36,392)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets', window );">Change in fair value of financial assets</a></td>
<td class="nump">278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">93<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ComprehensiveIncomeFromContinuingOperation', window );">Total comprehensive income for the year</a></td>
<td class="nump">882,893<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(718,556)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">859,482<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140,926<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">741,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ContributionsByAndDistributionsToOwnersOfParentAbstract', window );"><strong>Transactions with owners of the Company Contributions and distributions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary', window );">Capital increase in subsidiary</a></td>
<td class="nump">6,666<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,666<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests', window );">Dividends - non-controlling interests</a></td>
<td class="num">(1,374)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,951)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,951)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Share options exercised</a></td>
<td class="nump">272,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">272,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">272,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends</a></td>
<td class="num">(1,514,114)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,402,899)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,402,899)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(111,215)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SaleOrIssueOfTreasuryShares', window );">Disposal of treasury shares</a></td>
<td class="nump">1,251,014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,244,638<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,244,638<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,376<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ContributionsByAndDistributionsToOwnersOfParent', window );">Total contributions and distributions</a></td>
<td class="nump">14,884<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,501,379<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,402,899)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98,480<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(83,596)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TransactionsWithOwnersOfParentAbstract', window );"><strong>Changes in ownership interests</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Change of shareholding interest in subsidiary</a></td>
<td class="nump">3,680,609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(381,188)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(381,188)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,061,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Total changes in ownership interests</a></td>
<td class="nump">3,680,609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(381,188)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(381,188)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,061,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Total transactions with owners of the Company</a></td>
<td class="nump">3,695,493<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,120,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,402,899)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(282,708)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,978,201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Ending balance at Dec. 31, 2020</a></td>
<td class="nump">20,818,867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,007,356<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,524,027)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,771,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,260,083<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,558,784<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">6,696,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,312,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,312,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">384,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeAbstract', window );"><strong>Other comprehensive income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Loss on cash flow hedge</a></td>
<td class="num">(601,415)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(437,995)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(437,995)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(163,420)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Foreign currency translation differences</a></td>
<td class="nump">89,848<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Actuarial loss on defined benefit plan</a></td>
<td class="nump">41,832<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41,959<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41,959<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(127)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets', window );">Change in fair value of financial assets</a></td>
<td class="nump">2,269<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(370)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ComprehensiveIncomeFromContinuingOperation', window );">Total comprehensive income for the year</a></td>
<td class="nump">6,228,994<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(379,380)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,312,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,932,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">296,234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ContributionsByAndDistributionsToOwnersOfParentAbstract', window );"><strong>Transactions with owners of the Company Contributions and distributions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary', window );">Capital increase in subsidiary</a></td>
<td class="nump">2,252,306<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,252,306<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests', window );">Dividends - non-controlling interests</a></td>
<td class="num">(2,493)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,493)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,493)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions', window );">Share options exercised</a></td>
<td class="num">(2,719)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 18,136<span></span>
</td>
<td class="num">(36,708)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18,572)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends</a></td>
<td class="num">(2,031,301)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,866,393)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,866,393)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(164,908)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseThroughInBusinessCombinations', window );">Business Combination</a></td>
<td class="nump">2,115,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,115,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SaleOrIssueOfTreasuryShares', window );">Disposal of treasury shares</a></td>
<td class="nump">3,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">496,741<span></span>
</td>
<td class="nump">3,825<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(496,916)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ContributionsByAndDistributionsToOwnersOfParent', window );">Total contributions and distributions</a></td>
<td class="nump">2,334,997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">514,877<span></span>
</td>
<td class="num">(35,376)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,363,309)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,883,808)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,218,805<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TransactionsWithOwnersOfParentAbstract', window );"><strong>Changes in ownership interests</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Change of shareholding interest in subsidiary</a></td>
<td class="num">(512,836)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,322,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,322,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,835,552)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Total changes in ownership interests</a></td>
<td class="num">(512,836)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,322,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,322,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,835,552)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Total transactions with owners of the Company</a></td>
<td class="nump">1,822,161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">514,877<span></span>
</td>
<td class="nump">1,287,340<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,363,309)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(561,092)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,383,253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseThroughPredecessorAdjustments', window );">Predecessor adjustments</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,360,525<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(583,941)<span></span>
</td>
<td class="num">(4,984,931)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,381,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,935,735<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,109,186<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,109,186)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Ending balance at Dec. 31, 2021</a></td>
<td class="nump">R$ 28,870,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 6,365,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (69,064)<span></span>
</td>
<td class="num">R$ (1,690,235)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (521,609)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 10,655,992<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 14,740,937<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 14,129,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CommonStockDividendsDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common stock dividends declared.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CommonStockDividendsDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ComprehensiveIncomeFromContinuingOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Comprehensive income from continuing operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ComprehensiveIncomeFromContinuingOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ContributionsByAndDistributionsToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contributions by and distributions to owners of parent</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ContributionsByAndDistributionsToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ContributionsByAndDistributionsToOwnersOfParentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contributions by and distributions to owners of parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ContributionsByAndDistributionsToOwnersOfParentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in non-controlling interests arising from cash capital increase of subsidiary</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_IncreaseDecreaseInNoncontrollingInterestsArisingFromCashCapitalIncreaseOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_IncreaseDecreaseThroughInBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through in business combinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_IncreaseDecreaseThroughInBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_IncreaseDecreaseThroughPredecessorAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity through changes in predecessor adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_IncreaseDecreaseThroughPredecessorAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_TransactionsWithOwnersOfParentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with owners of parent [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_TransactionsWithOwnersOfParentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2021-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the equity of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity through changes in ownership interests in subsidiaries that do not result in loss of control. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughExerciseOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughExerciseOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from transactions with owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_91_a&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_7&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)] [Contrast: Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2021-01-01<br> -Paragraph 135<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2021-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2021-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2021-01-01<br> -Paragraph 113<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in equity resulting from the purchase of treasury shares. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SaleOrIssueOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity resulting from the sale or issue of treasury shares. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SaleOrIssueOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964498672328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated statement of cash flows - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Profit before income taxes</a></td>
<td class="nump">R$ 6,250,876<span></span>
</td>
<td class="nump">R$ 1,990,961<span></span>
</td>
<td class="nump">R$ 3,661,948<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract', window );"><strong>Adjustments for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForDepreciationAmortizationAndImpairmentExpense', window );">Depreciation and amortization</a></td>
<td class="nump">2,504,384<span></span>
</td>
<td class="nump">2,340,854<span></span>
</td>
<td class="nump">2,287,877<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForProvisionReversalOfLeaseAndConcession', window );">Lease and concession (reversal) provision</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(379,636)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Interest in earnings of associates</a></td>
<td class="num">(130,225)<span></span>
</td>
<td class="num">(28,801)<span></span>
</td>
<td class="num">(1,231)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Interest in earnings of joint ventures</a></td>
<td class="num">(4,590,631)<span></span>
</td>
<td class="num">(583,001)<span></span>
</td>
<td class="num">(1,131,406)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment', window );">(Gain) loss on disposed assets</a></td>
<td class="num">(7,295)<span></span>
</td>
<td class="num">(30,610)<span></span>
</td>
<td class="nump">36,045<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Share-based payment</a></td>
<td class="nump">53,131<span></span>
</td>
<td class="nump">272,692<span></span>
</td>
<td class="nump">101,283<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForProvisions', window );">Legal proceedings provision</a></td>
<td class="nump">263,945<span></span>
</td>
<td class="nump">27,437<span></span>
</td>
<td class="nump">102,811<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForIndexationChargesInterestAndExchangeNet', window );">Interest and exchange, net</a></td>
<td class="nump">2,911,179<span></span>
</td>
<td class="nump">2,111,772<span></span>
</td>
<td class="nump">2,125,655<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet', window );">Sector financial assets and liabilities, net</a></td>
<td class="nump">246,100<span></span>
</td>
<td class="nump">337,620<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForDeferredRevenue', window );">Deferred revenue</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(6,325)<span></span>
</td>
<td class="num">(8,271)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForEmployeeBenefitsProvisions', window );">Provisions for employee benefits</a></td>
<td class="nump">358,053<span></span>
</td>
<td class="nump">161,042<span></span>
</td>
<td class="nump">229,812<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForAllowanceForDoubtfulAccounts', window );">Allowance for expected credit losses</a></td>
<td class="num">(2,813)<span></span>
</td>
<td class="nump">32,098<span></span>
</td>
<td class="nump">6,630<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForCreditSalesToThirdParty', window );">Disposal of credit rights</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">68,311<span></span>
</td>
<td class="num">(410,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForRecoveringTaxCredits', window );">Recovering tax credits</a></td>
<td class="num">(648,315)<span></span>
</td>
<td class="num">(132,399)<span></span>
</td>
<td class="num">(165,398)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForLossGainOnEnergyDerivativeOperations', window );">Loss in energy derivative operations</a></td>
<td class="nump">58,701<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty', window );">Change in fair value of investment property</a></td>
<td class="num">(17,116)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForGainOnBargainPurchase', window );">Gain in a bargain purchase</a></td>
<td class="num">(416,268)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherAdjustmentsToReconcileProfitLoss', window );">Other</a></td>
<td class="num">(23,731)<span></span>
</td>
<td class="nump">436,260<span></span>
</td>
<td class="num">(109,423)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital', window );">Cash flows from operating activities before changes in working capital</a></td>
<td class="nump">6,809,975<span></span>
</td>
<td class="nump">6,618,275<span></span>
</td>
<td class="nump">6,726,332<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ChangeInOperatingAssetsAndLiabilitiesAbstract', window );"><strong>Changes in:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable', window );">Trade receivables</a></td>
<td class="num">(404,016)<span></span>
</td>
<td class="nump">67,291<span></span>
</td>
<td class="num">(145,933)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories', window );">Inventories</a></td>
<td class="num">(245,174)<span></span>
</td>
<td class="num">(117,166)<span></span>
</td>
<td class="num">(90,880)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForOtherCurrentTaxNet', window );">Other current tax, net</a></td>
<td class="nump">155,712<span></span>
</td>
<td class="nump">74,949<span></span>
</td>
<td class="nump">179,622<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseInIncomeTaxAndOtherTax', window );">Income tax</a></td>
<td class="num">(950,401)<span></span>
</td>
<td class="num">(868,234)<span></span>
</td>
<td class="num">(407,477)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties', window );">Related parties, net</a></td>
<td class="num">(111,149)<span></span>
</td>
<td class="nump">572,601<span></span>
</td>
<td class="nump">22,827<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable', window );">Trade payables</a></td>
<td class="nump">591,975<span></span>
</td>
<td class="nump">167,019<span></span>
</td>
<td class="nump">383,459<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities', window );">Employee benefits</a></td>
<td class="num">(150,087)<span></span>
</td>
<td class="num">(170,133)<span></span>
</td>
<td class="num">(198,312)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseInProvisionForLegalProceedings', window );">Provision for legal proceedings</a></td>
<td class="num">(131,260)<span></span>
</td>
<td class="num">(212,699)<span></span>
</td>
<td class="num">(187,292)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities', window );">Other financial liabilities</a></td>
<td class="nump">50,856<span></span>
</td>
<td class="num">(91,935)<span></span>
</td>
<td class="nump">26,525<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_IncreaseDecreaseInJudicialDeposits', window );">Judicial deposits</a></td>
<td class="num">(58,608)<span></span>
</td>
<td class="num">(23,493)<span></span>
</td>
<td class="num">(62,727)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations', window );">Discontinued operation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(17,615)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForDecreaseIncreaseInSaleOfCreditRights', window );">Cash received (paid) on disposal of credit rights</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(31,857)<span></span>
</td>
<td class="nump">410,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired', window );">Tax losses acquired</a></td>
<td class="num">(208,118)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentForIncreaseDecreaseInPostEmploymentBenefits', window );">Post-employment benefits</a></td>
<td class="num">(34,004)<span></span>
</td>
<td class="num">(37,444)<span></span>
</td>
<td class="num">(39,387)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities', window );">Other assets and liabilities, net</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(238,320)<span></span>
</td>
<td class="num">(301,931)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_AdjustmentsInConcessionsPayable', window );">Concessions payable</a></td>
<td class="num">(168,510)<span></span>
</td>
<td class="num">(51,947)<span></span>
</td>
<td class="num">(474)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInWorkingCapital', window );">Changes in working capital</a></td>
<td class="num">(1,662,784)<span></span>
</td>
<td class="num">(961,368)<span></span>
</td>
<td class="num">(429,595)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations', window );">Net cash from operating activities</a></td>
<td class="nump">5,147,191<span></span>
</td>
<td class="nump">5,656,907<span></span>
</td>
<td class="nump">6,296,737<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Capital contribution in associates</a></td>
<td class="num">(417,216)<span></span>
</td>
<td class="num">(1,142)<span></span>
</td>
<td class="num">(31,113)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_BusinessCombinationNetOfCashAcquired', window );">Acquisition of subsidiary, net of cash acquired</a></td>
<td class="num">(592,733)<span></span>
</td>
<td class="num">(94,631)<span></span>
</td>
<td class="num">(9,837)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments', window );">(Purchase) sale of marketable securities</a></td>
<td class="num">(514,459)<span></span>
</td>
<td class="num">(483,574)<span></span>
</td>
<td class="nump">1,230,431<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">26,313<span></span>
</td>
<td class="nump">124,330<span></span>
</td>
<td class="num">(31,439)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities', window );">Dividends received from associates</a></td>
<td class="nump">16,426<span></span>
</td>
<td class="nump">13,165<span></span>
</td>
<td class="nump">17,690<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities', window );">Dividends received from joint ventures</a></td>
<td class="nump">819,729<span></span>
</td>
<td class="nump">1,852<span></span>
</td>
<td class="nump">1,462,625<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PurchaseOfOtherFinancialAssets', window );">Other financial assets</a></td>
<td class="num">(14,168)<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="num">(17,022)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Acquisition of property, plant and equipment, intangible assets and contract assets</a></td>
<td class="num">(4,774,839)<span></span>
</td>
<td class="num">(4,034,688)<span></span>
</td>
<td class="num">(2,762,937)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ProceedsFromDisposalOfDiscontinuedOperations', window );">Net cash from sale of discontinued operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">432<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod', window );">Acquisition of associates shares</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(51,299)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Cash received on sale of fixed assets, and intangible assets</a></td>
<td class="nump">3,090<span></span>
</td>
<td class="nump">3,045<span></span>
</td>
<td class="nump">10,578<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities', window );">Other</a></td>
<td class="nump">1,025<span></span>
</td>
<td class="num">(194)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations', window );">Net cash used in investing activities</a></td>
<td class="num">(5,446,832)<span></span>
</td>
<td class="num">(4,523,125)<span></span>
</td>
<td class="num">(130,592)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_LoansAndBorrowingsAndDebenturesRaised', window );">Loans, borrowings and debentures raised</a></td>
<td class="nump">12,548,547<span></span>
</td>
<td class="nump">10,336,257<span></span>
</td>
<td class="nump">9,352,123<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_RepaymentOfPrincipalOnLoansBorrowingsAndDebentures', window );">Repayment of principal on loans, borrowings and debentures</a></td>
<td class="num">(9,925,067)<span></span>
</td>
<td class="num">(3,397,060)<span></span>
</td>
<td class="num">(4,422,026)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PaymentOfInterestOfLoansBorrowingsAndDebentures', window );">Payment of interest on loans, borrowings and debentures</a></td>
<td class="num">(2,321,868)<span></span>
</td>
<td class="num">(1,782,976)<span></span>
</td>
<td class="num">(1,384,184)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PaymentsForDerivativeFinancialInstruments', window );">Payment of derivative financial instruments</a></td>
<td class="num">(647,168)<span></span>
</td>
<td class="num">(61,716)<span></span>
</td>
<td class="num">(126,986)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ProceedsFromDerivativeFinancialInstruments', window );">Receipt of derivative financial instruments</a></td>
<td class="nump">4,325,918<span></span>
</td>
<td class="nump">1,383,411<span></span>
</td>
<td class="nump">251,545<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PaymentsForDerivativeFinancialInstrumentsExceptDebt', window );">Payment of non-debt related derivative financial instruments</a></td>
<td class="num">(227,012)<span></span>
</td>
<td class="num">(101,461)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_ProceedsFromDerivativeFinancialInstrumentsExceptDebt', window );">Receipt of non-debt related derivative financial instruments</a></td>
<td class="nump">197,679<span></span>
</td>
<td class="nump">106,519<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities', window );">Repayment of principal on lease liabilities</a></td>
<td class="num">(461,040)<span></span>
</td>
<td class="num">(5,424,917)<span></span>
</td>
<td class="num">(423,283)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities', window );">Payment of interest on leases</a></td>
<td class="num">(165,301)<span></span>
</td>
<td class="num">(500,922)<span></span>
</td>
<td class="num">(249,325)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests', window );">Cash contribution from non-controlling interest</a></td>
<td class="nump">2,252,306<span></span>
</td>
<td class="nump">4,397,772<span></span>
</td>
<td class="nump">453,082<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares', window );">Payments to redeem entity&#8217;s shares and acquisition of treasury shares</a></td>
<td class="num">(26,101)<span></span>
</td>
<td class="num">(495,048)<span></span>
</td>
<td class="num">(1,141,302)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities', window );">Transactions with non-controlling interests</a></td>
<td class="nump">69,155<span></span>
</td>
<td class="nump">65,478<span></span>
</td>
<td class="nump">1,192<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PaymentForAcquisitionOfNoncontrollingInterests', window );">Acquisition of non-controlling interests</a></td>
<td class="num">(698,147)<span></span>
</td>
<td class="num">(269,977)<span></span>
</td>
<td class="num">(3,086,642)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(2,558,886)<span></span>
</td>
<td class="num">(546,302)<span></span>
</td>
<td class="num">(738,152)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations', window );">Discontinued operation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,543<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities', window );">Payment of share-based compensation</a></td>
<td class="num">(45,024)<span></span>
</td>
<td class="num">(22,804)<span></span>
</td>
<td class="num">(45,961)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities', window );">Other</a></td>
<td class="nump">1,397<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations', window );">Net cash from (used in) financing activities</a></td>
<td class="nump">2,319,388<span></span>
</td>
<td class="nump">3,686,254<span></span>
</td>
<td class="num">(1,558,376)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges', window );">Net increase in cash and cash equivalents</a></td>
<td class="nump">2,019,747<span></span>
</td>
<td class="nump">4,820,036<span></span>
</td>
<td class="nump">4,607,769<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at beginning of year</a></td>
<td class="nump">13,642,918<span></span>
</td>
<td class="nump">8,472,274<span></span>
</td>
<td class="nump">3,621,798<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of foreign exchange rate changes</a></td>
<td class="nump">511,465<span></span>
</td>
<td class="nump">350,608<span></span>
</td>
<td class="nump">242,707<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents at end of year</a></td>
<td class="nump">16,174,130<span></span>
</td>
<td class="nump">13,642,918<span></span>
</td>
<td class="nump">8,472,274<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalInformationAbstract', window );"><strong>Additional information</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefund', window );">Income tax paid</a></td>
<td class="nump">R$ 462,120<span></span>
</td>
<td class="nump">R$ 592,243<span></span>
</td>
<td class="nump">R$ 287,451<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentForIncreaseDecreaseInPostEmploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustment for increase decrease in post employment benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentForIncreaseDecreaseInPostEmploymentBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForAllowanceForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for Allowance for Doubtful Accounts</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForAllowanceForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForCreditSalesToThirdParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for credit sales to third party</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForCreditSalesToThirdParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease increase in due from related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForDecreaseIncreaseInDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in other assets (liabilities) to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForDecreaseIncreaseInOtherAssetsAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in other financial assets (liabilities) to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForDecreaseIncreaseInSaleOfCreditRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease increase in sale of credit rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForDecreaseIncreaseInSaleOfCreditRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for deferred revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForDepreciationAmortizationAndImpairmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation, amortization and impairment expense,</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForDepreciationAmortizationAndImpairmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForEmployeeBenefitsProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for employee benefits provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForEmployeeBenefitsProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForGainOnBargainPurchase">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain on bargain purchase to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForGainOnBargainPurchase</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in tax losses acquired to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForIncreaseDecreaseInTaxLossesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForIndexationChargesInterestAndExchangeNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for indexation charges interest and exchange net.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForIndexationChargesInterestAndExchangeNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForLossGainOnEnergyDerivativeOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for losses (gains) arising from energy derivative operations to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForLossGainOnEnergyDerivativeOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForOtherCurrentTaxNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for other current tax net.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForOtherCurrentTaxNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForProvisionReversalOfLeaseAndConcession">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for provision (reversal of provision) of lease and concession to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForProvisionReversalOfLeaseAndConcession</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForRecoveringTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for recovering tax credits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForRecoveringTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for sector financial assets and liabilities, net to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsForSectorFinancialAssetsAndLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_AdjustmentsInConcessionsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments in concessions payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_AdjustmentsInConcessionsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_BusinessCombinationNetOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Business combination, net of cash acquired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_BusinessCombinationNetOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's financing activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) financing activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CashFlowFromUsedInFinancingActivitiesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's operating activities, related to discontinued operations. [Refer: Discontinued operations [member]; Cash flows from (used in) operating activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CashFlowFromUsedInOperatingActivitiesDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ChangeInOperatingAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in Operating Assets and Liabilities [abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ChangeInOperatingAssetsAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_IncreaseDecreaseInIncomeTaxAndOtherTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in income tax and other tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_IncreaseDecreaseInIncomeTaxAndOtherTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_IncreaseDecreaseInJudicialDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in judicial deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_IncreaseDecreaseInJudicialDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_IncreaseDecreaseInProvisionForLegalProceedings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase decrease in provision for legal proceedings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_IncreaseDecreaseInProvisionForLegalProceedings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_LoansAndBorrowingsAndDebenturesRaised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and borrowings and debentures raised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_LoansAndBorrowingsAndDebenturesRaised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PaymentForAcquisitionOfNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment for acquisition of Non-controlling interests.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PaymentForAcquisitionOfNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PaymentOfInterestOfLoansBorrowingsAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment of interest of loans borrowings and debentures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PaymentOfInterestOfLoansBorrowingsAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment of share-based compensation classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PaymentOfSharebasedCompensationClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PaymentsForDerivativeFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments for derivative financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PaymentsForDerivativeFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PaymentsForDerivativeFinancialInstrumentsExceptDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payments of derivative financial instruments, except debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PaymentsForDerivativeFinancialInstrumentsExceptDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ProceedsFromDerivativeFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from derivative financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ProceedsFromDerivativeFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ProceedsFromDerivativeFinancialInstrumentsExceptDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from derivative financial instruments, except debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ProceedsFromDerivativeFinancialInstrumentsExceptDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_ProceedsFromDisposalOfDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from Disposal of Discontinued Operations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_ProceedsFromDisposalOfDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PurchaseOfOtherFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchase of other financial assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PurchaseOfOtherFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_RepaymentOfPrincipalOnLoansBorrowingsAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Repayment of principal on loans, borrowings and debentures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_RepaymentOfPrincipalOnLoansBorrowingsAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sale of non-controlling interests in subsidiaries classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_SaleOfNoncontrollingInterestsInSubsidiariesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in inventories to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Inventories; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in trade accounts receivable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain (loss) on disposals of property, plant and equipment to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss); Property, plant and equipment; Disposals, property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gains (losses) arising from a change in the fair value of investment property to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Investment property; Gains (losses) on fair value adjustment, investment property; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in employee benefit liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInEmployeeBenefitLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAccountPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for provisions to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Provisions; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2021-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInRestrictedCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in short-term deposits and investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's financing activities, related to continuing operations. [Refer: Continuing operations [member]; Cash flows from (used in) financing activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's investing activities, related to continuing operations. [Refer: Continuing operations [member]; Cash flows from (used in) investing activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) the entity's operating activities, related to continuing operations. [Refer: Continuing operations [member]; Cash flows from (used in) operating activities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_c&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) from the entity's operations before changes in working capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Section A Statement of cash flows for an entity other than a financial institution<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;doctype=Illustrative%20Examples&amp;dita_xref=IAS07_IE_A__IAS07_IE_A_TI<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from associates, classified as investing activities. [Refer: Associates [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from joint ventures, classified as investing activities. [Refer: Joint ventures [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents before the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in working capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAdjustmentsToReconcileProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments to reconcile profit (loss) to net cash flow from (used in) operating activities that the entity does not separately disclose in the same statement or note. [Refer: Adjustments to reconcile profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAdjustmentsToReconcileProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Inflows (outflows) of cash, classified as financing activities, that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 21<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_21&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Inflows (outflows) of cash, classified as investing activities, that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 21<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_21&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire or redeem entity's shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsToAcquireOrRedeemEntitysShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from proceeds from contributions of non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2021-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2021-01-01<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of interests in investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964480018984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated statement of cash flows (Parenthetical) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TypeOfArrangementsAxis=csan_NorthSouthRailroadConcessionAgreementMember', window );">North South Railroad Concession Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Right-of-use&#160;assets recognized</a></td>
<td class="nump">R$ 104,840<span></span>
</td>
<td class="nump">R$ 3,522,469<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">Construction in progress [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_PaymentForAcquisitionOfAssetsInInstallments', window );">Payment for acquisition of assets in installments</a></td>
<td class="nump">263,143<span></span>
</td>
<td class="nump">297,002<span></span>
</td>
<td class="nump">R$ 176,632<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=csan_CompanhiaDeGasDeSaoPauloMember', window );">Companhia de Gas de Sao Paulo - COMGAS [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear', window );">Non-cash payment of annual adjustment for previous fiscal year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">262,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=csan_PaylySolucoesDePagamentosSaMember', window );">Payly Solucoes de Pagamentos SA [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_StatementLineItems', window );"><strong>Statement [LineItems]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_CapitalContributionCapitalizationOfExpenses', window );">Capital contribution capitalization of expenses</a></td>
<td class="nump">R$ 3,750<span></span>
</td>
<td class="nump">R$ 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_CapitalContributionCapitalizationOfExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capital contribution capitalization of expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_CapitalContributionCapitalizationOfExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-cash payment of annual adjustment for previous fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_NonCashPaymentOfAnnualAdjustmentForPreviousFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_PaymentForAcquisitionOfAssetsInInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payment for acquisition of assets in installments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_PaymentForAcquisitionOfAssetsInInstallments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>csan_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsToRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to right-of-use assets. [Refer: Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2021-01-01<br> -Paragraph 53<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_53_h&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsToRightofuseAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_csan_TypeOfArrangementsAxis=csan_NorthSouthRailroadConcessionAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">csan_TypeOfArrangementsAxis=csan_NorthSouthRailroadConcessionAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=csan_CompanhiaDeGasDeSaoPauloMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=csan_PaylySolucoesDePagamentosSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=csan_PaylySolucoesDePagamentosSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487353992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operations and Corporate Reorganization<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfOperationsAndCorporateReorganizationTextBlock', window );">Disclosure of operations and corporate reorganization</a></td>
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<li style="font-weight: bold; margin: 0pt 0pt 10pt 10.01pt; padding-left: 2.99pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; margin-left: 30px; font-weight: bold;">Operations and Corporate Reorganization</span></li>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan S.A. (&#8220;Cosan&#8221; and together with its subsidiaries collectively, the &#8220;Company&#8221;) is a publicly traded Company on the B3 S.A. - Brasil, Bolsa, Balc&#227;o, or &#8220;B3,&#8221; on the special New Market (Novo Mercado) segment under the ticker symbol &#8220;CSAN3.&#8221; The Company&#8217;s American Depositary Shares, or &#8220;ADSs,&#8221; are listed on the New York Stock Exchange, or &#8220;NYSE,&#8221; and traded under the symbol &#8220;CSAN.&#8221; Cosan is a corporation (sociedade an&#244;nima) of indefinite term incorporated under the laws of Brazil, with its registered office in the city of S&#227;o Paulo, state of S&#227;o Paulo. Mr. Rubens Ometto Silveira Mello is the ultimate controlling shareholder of Cosan.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Corporate reorganization</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="text-indent: 35.45pt;">On January 22, 2021, the shareholders of </span>Cosan<span style="text-indent: 35.45pt;"> Limited, the former parent company of </span>Cosan<span style="text-indent: 35.45pt;"> S.A. and </span>Cosan<span style="text-indent: 35.45pt;"> </span>Log&#237;stica<span style="text-indent: 35.45pt;">, approved an intra-group reorganization, announced on July 3, 2020, consisting of a merger of companies under common control, as provided by art. 264, paragraph 4, of Brazilian Law No. 6,404, pursuant to which </span>Cosan<span style="text-indent: 35.45pt;"> Limited and </span>Cosan<span style="text-indent: 35.45pt;"> </span>Log&#237;stica<span style="text-indent: 35.45pt;"> were merged into </span>Cosan<span style="text-indent: 35.45pt;"> S.A., or the &#8220;Corporate Reorganization&#8221;</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;As part of an effort to streamline our operations, the Company carried out a corporate reorganization to enhance its corporate structure by making Cosan S.A. the sole holding company of the group. The corporate reorganization simplified the corporate structure, unifying and consolidating the Cosan S.A., Cosan Limited and Cosan Log&#237;stica free floats, in order to increase share liquidity, and unlock value within the Company&#8217;s group portfolio. As part of the corporate reorganization, each of Cosan Limited and Cosan Log&#237;stica were merged into Cosan S.A., being Cosan S.A. the surviving entity. Following the completion of the merger, the outstanding shares of Cosan S.A. are now directly owned by all shareholders of Cosan Limited, Cosan S.A. and Cosan Log&#237;stica as of immediately prior to the completion of the merger. As a result, Cosan S.A. issued American Depositary Shares, or ADSs, listed on the NYSE or common shares listed under the Novo Mercado segment of the B3 to the shareholders of Cosan Limited immediately prior to the approval of the merger. As for Cosan Log&#237;stica, upon completion of the merger, holders of Cosan Log&#237;stica shares immediately prior to the approval of the merger became owners of Cosan S.A. common shares.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following charts set forth simplified representations of our operating structure before and after the corporate reorganization.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><img alt="Graphics" src="imgd1f63e4e5b88491ca8cd.jpg"/><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Figure 1: Simplified operating structure prior to the merger.</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><img alt="Graphics" src="img6562d44867de4d62ac7d.jpg"/></span></span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Figure 2: Simplified operating structure immediately after the merger.</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Merger Protocol also established the exchange ratio for the shares. Each Class A and Class B Shares issued by Cosan Limited and outstanding immediately prior to the consummation of the merger were automatically converted into the right to receive 1.29401595263 Cosan S.A. ADSs. The exchange ratio for the exchange of Cosan Log&#237;stica shares for Cosan S.A. shares is 0.25360679585 Cosan S.A. shares for one Cosan Log&#237;stica share.<br/></span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">This is equivalent to 0.772788 Cosan Limited shares for each Cosan S.A. share or Cosan S.A. ADS, as applicable, and 3.943112 Cosan Log&#237;stica shares for each Cosan S.A. share.</span></span></p>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487353832">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Company history<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfCompanyHistoryAbstract', window );"><strong>Disclosure of company history [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfCompanyHistoryTextBlock', window );">Company history</a></td>
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<p style="text-align: left; margin: 0pt 0pt 8pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">2.&#160; &#160; &#160; &#160; &#160; &#160;Company history</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On March 28, 2019, Rumo S.A. (&#8220;Rumo&#8221;) announced that it won the tender (Bidding No. 02/2018) organized by Brazilian Transportation Authority (<span style="font-style: italic;">Ag&#234;ncia Nacional de Transporte Terrestre</span>), or &#8220;ANTT,&#8221; to operate the railroad network located between the cities of Porto Nacional in the state of Tocantins and Estrela d&#8217;Oeste in the state of S&#227;o Paulo, for a period of 30&#160;years from the date of signature, which was July 31, 2019. Rumo&#8217;s bid was R$2,719,530 (R$2,904,778 adjusted with contractual parameters). The final grant of the concession to Rumo is subject to the completion of the remaining stages of the tender detailed in the tender notice, including an analysis of Rumo&#8217;s licensing documents. Rumo was required to pay: (i) 5% of the value of its bid within 45&#160;days of the publication of ANTT&#8217;s final decision, and (ii) the remainder in 120 quarterly installments calculated pursuant to the terms of the concession agreement to be entered into in connection with the concession. This payment, in an amount of R$145,239 million, was completed on July 24, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 31, 2019, the Sanitation and Energy Regulatory Agency for the state of S&#227;o Paulo (<span style="font-style: italic;">Ag&#234;ncia Reguladora de Energia de S&#227;o Paulo</span>), or &#8220;ARSESP,&#8221; concluded the Fourth Ordinary Tariff Review regarding the update of Comg&#225;s&#8217; tariffs to be applied across all segments from that date. Prices have been adjusted by an amount corresponding to inflation as measured by the General Market Price Index (<span style="font-style: italic;">&#205;ndice Geral de Pre&#231;os - Mercado</span>), or &#8220;IGPM,&#8221; and to reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Exceptionally, applicable regulations allow gas cost adjustment within a period of less than <span style="border-left: none; border-right: none;">one year</span>, provided that certain criteria are met, due to the difference between gas cost per the tariff and that paid by the concessionaire to its supplier.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On November 1, 2019, Ra&#237;zen S.A. (formerly known as Ra&#237;zen Combust&#237;veis S.A), or &#8220;Ra&#237;zen,&#8221; and FEMSA Comercio, S.A. de C.V., or &#8220;FEMSA Comercio,&#8221; formed a joint venture in the convenience and proximity store business which operates stores under the OXXO brand, called Rede Integrada de Lojas de Conven&#234;ncias e Proximidade S.A., or &#8220;Grupo N&#243;s.&#8221; The enterprise value was R$1,122,000, with an effect on interest in earnings of joint venture of R$528,967, resulting from gains related to dilution of shares, sale of shares and the fair value in the formation of this joint venture. The transaction was concluded on November 1, 2019.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On January 14, 2020, Cosan S.A. contributed&#160;the shares it owned in Comg&#225;s (103,699,333 common shares and 27,682,044 preferred shares), equivalent to a 99.15% interest in&#160;Comg&#225;s, to the Cosan S.A.&#8217;s wholly owned subsidiary Compass G&#225;s e Energia S.A. (&#8220;Compass G&#225;s e Energia&#8221;), equivalent to R$2,861,936. The transaction was a reorganization of entities under the Company's common control, a such, there were no effects on the Company's consolidated financial statements.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On January 30, 2020, the subsidiary Compass Comercializa&#231;&#227;o S.A. acquired control of Compass Comercializadora Ltda., Compass Gera&#231;&#227;o Ltda. and Compass Energia Ltda. for an amount of R$99,385 (Note 9.3.2). The purpose of these acquisition was is to enter the electricity and natural gas trading business. On March 9, 2020, Cosan S.A. announced the creation of the new &#8220;Gas and Power,&#8221; segment which created to provide gas and power solutions in Brazil. The Gas and Power segment focuses on four pillars: (1) infrastructure which brings natural gas from the pre-salt offshore reserves and international markets into Brazil; (2) a distribution system relying on Brazil&#8217;s largest distributor of piped natural gas, i.e., Comg&#225;s; (3) energy generation by converting natural gas into electricity; and (4) trading of gas and electricity to power industries and businesses. On November 30, 2020, the subsidiary Compass Comercializadora Ltda. merged into Compass Comercializa&#231;&#227;o S.A., with Compass Comercializa&#231;&#227;o S.A. being the surviving entity. </span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On April 9, 2020, the Company entered into a shares purchase and derivatives negotiation plan, or the Total Return Swap, with Banco Santander (Brasil) S.A. &#8211; Cayman Branch, or &#8220;Santander Cayman,&#8221; and Santander Fundo de Investimento Amazonas Multimercado Cr&#233;dito Privado Investimento no Exterior, or the &#8220;Santander Fund.&#8221; Pursuant to the Total Return Swap, the Santander Fund will be able to purchase, on its own behalf, common shares issued by the Company, and Santander Cayman will be able to enter into equity swap transactions on its own behalf and on our behalf in connection with such shares (for which purpose we also entered into a master agreement with certain Santander entities). The maximum aggregate amount of derivatives which may be negotiated pursuant to the Total Return Swap and the maximum aggregate number of underlying shares thereunder are R$600,000 and 19,500,000, respectively. On March 1, 2021, the Company settled the Total Return Swap and a new agreement was entered into with&#160;Cosan S.A.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On May 27, 2020, Rumo signed an amendment to the concession agreement relating to Malha Paulista with the ANTT. The amendment was reviewed and authorized by the Federal Accounting Court (<span style="font-style: italic;">Tribunal de Contas da Uni&#227;o</span>), or &#8220;TCU,&#8221; pursuant to a decision issued on May 20, 2020 (TC 009.032/2016-9). Due to the signing of the amendment, the new value of the concession grant is of R$3,382,030 (of which R$2,823,777 has already been paid), to be paid in quarterly installments over the term of the contract until 2058, with estimated investments of R$6,100,000 (as of December 2017) over the same period.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On August 28, 2020, Rumo completed a follow-on offering of common shares as a result of which it raised R$6,400,000 through the issuance of 294,252,874 common shares at a price of R$21.75 per share. Rumo used the proceeds of the offering to (i) prepay grants due in connection with certain of Rumo&#8217;s concession agreements and (ii) finance several strategic projects that were driven by the recent early renewal of the Malha Paulista concession agreement.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On October 26, 2020, the subsidiary Compass G&#225;s e Energia presented, with the approval of its Board of Directors, a proposal in the competitive divestment process promoted by Petr&#243;leo Brasileiro S.A. &#8211; Petrobras for the sale of the 51% interest in the share capital of Petrobras G&#225;s S.A. &#8211; Gaspetro (&#8220;Gaspetro&#8221;). On July 28, 2021, Compass G&#225;s e Energia entered into a share purchase and sale agreement for the acquisition of control of Gaspetro for the amount of R$2,030,000, to be paid at closing, subject to the adjustments provided for in the agreement. The completion of the transaction is subject to the fulfillment of certain suspensive conditions, which include, but are not limited to, the observation of the period for exercising the preemptive right of other shareholders of Gaspetro and its investees and the approval by the competent bodies.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In February 2021, Rumo Malha Central S.A., or &#8220;Rumo Malha Central&#8221;, started its logistic rail service. The operations began with rail connecting between operations of Rumo Malha Paulista S.A., or &#8220;Rumo Malha Paulista&#8221; and Rumo Malha Norte S.A. or &#8220;Rumo Malha Norte.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On May 20, 2021, Ra&#237;zen entered into a renewal of the license agreement for the use of the <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8220;</span>Shell<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;</span> brand with Shell Brands International AG. With this renewal, Ra&#237;zen S.A. keeps the right to use the "Shell" brand, in the fuel distribution sector and related activities in Brazil, for a minimum period of 13 years, which can be renewed in certain cases, upon compliance with certain conditions established in the contract.</span></p>
<p style="margin: 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><span>On May 31, 2021, the subsidiary Compass G&#225;s e Energia&#160;entered into an investment agreement with Atmos Il&#237;quidos 1 Fundo de Investimento em A&#231;&#245;es, Atmos Master Fundo de Investimento em A&#231;&#245;es, Manzat Inversiones Auu S.A. and Ricardo Ernesto Correa da Silva&#160; (together &#8220;Investors&#8221;), through which the Investors agreed to jointly subscribe 30,853,032 preferred shares issued by Compass G&#225;s e Energia S.A. (&#8220;Compass&#8221;), representing 4.68% of its share capital, for an amount of R$810,000. In compliance with one of the contractual conditions, on August 12, 2021, Compass G&#225;s e Energia was listed with the Brazilian stock Exchange B3. The investment agreement was concluded with the financial settlement by the Investors on August 27, 2021. On September 4, 2021, Compass entered into a second investment agreement with Bradesco Vida e Previd&#234;ncia S.A. (&#8220;Bradesco&#8221;), BC Gest&#227;o de Recursos Ltda., Prisma Capital Ltda. and Nucleus Capital Ltda., for the issuance subscription of new preferred shares for a total amount of R$1,440,000&#160;representing 7.68% of share capital. On September 10, 2021, the first financial settlement of the investment made by Bradesco was concluded, via capital increase in Compass in the amount of R$810,015 through the issuance of new preferred shares representing 4.47% of Compass G&#225;s e Energia share capital. On October 29, 2021, the remaining settlement of the investment was made for a total amount of R$630,000. The total amount of the contributions made by the non-controlling shareholders was R$2,250,015. See transaction details in Note 9<span>.1</span>.</span></p>

<p style="margin: 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><span>On June 1, 2021, the shareholders of&#160;Ra&#237;zen Energia S.A. (&#8220;Ra&#237;zen Energia&#8221;) contributed all the issued shares by Raizen&#160;Energia,&#160;including common shares, class A and D preferred shares, to&#160;Ra&#237;zen <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">S.A. (formerly known as Ra&#237;zen Combust&#237;veis S.A.),&#160;</span>with the exception of two common shares that were retained by&#160;Cosan Investimentos e Participa&#231;&#245;es S.A. and Shell Brasil Holding BV (&#8220;Shell&#8221;), On the same date Ra&#237;zen Energia also redeemed all of its own class B preferred shares. As a result, Ra&#237;zen <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">S.A.&#160;</span>became the controlling holding company of Ra&#237;zen Energia&#160;(&#8220;Ra&#237;zen Reorganization&#8221;). As a result of the Raizen Reorganization, Cosan S.A. and Shell terminated the Ra&#237;zen Energia shareholders&#8217; agreement and amended the Ra&#237;zen <span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">S.A.&#160;</span>shareholders&#8217; agreement to reflect the effects of the Raizen Reorganization. The Raizen Reorganization did not have any impact in the Company&#8217;s financial statements.&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On June 3, 2021, Ra&#237;zen S.A., completed its registration with the Brazilian Securities Commission (Comiss&#227;o de Valores Mobili&#225;rios), or &#8220;CVM.&#8221; On September 9, 2021, Ra&#237;zen completed and initial public offering (<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8220;</span>IPO<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;</span>) of&#160;906,712,350 preferred shares at the price of R$7.40 per share with net proceeds of R$6,599,987 (R$6,709,671 net of&#160; R$109,684 issuance costs)<span><span><span>. See the effects of&#160;Ra&#237;zen<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s IPO in the consolidated financial statements in note <span>10</span>.&#160;</span></span></span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On August 10, 2021, Raizen S.A. completed the acquisition of Biosev S.A., or &#8220;Biosev&#8221;, for an amount of R$4,581,899. This payment was used, in turn, to pay part of Biosev<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s financial debts, with the remaining balance of such debts of Biosev being paid with funds from a new financing contracted by H&#233;dera Investimentos e Participa&#231;&#245;es S.A., or &#8220;H&#233;dera&#8221;. Also, as part of the transaction H&#233;dera exercised the subscription bonus in amount of R$2,423,944, adjusted to market value on the transaction date by the amount of R$76,663, totaling R$2,347,281, issued at the Company's general meeting held on June 1, 2021, becoming holder of 330,602,900 preferred shares issued by Ra&#237;zen, representing approximately 3.22% of its share capital.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Biosev<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s main activities are the production, processing and sale of rural and agricultural products, mainly sugarcane and its derivatives, generation and sale of energy as well, as derivatives from energy cogeneration. This business combination is in line with Ra&#237;zen<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s strategy of leading the transformation of the energy matrix with its own technology, by expanding the crushing capacity and increasing the share of renewable products in our portfolio.<br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On August 23, 2021, the Company's subsidiary Atl&#226;ntico Participa&#231;&#245;es Ltda., or &#8220;Atl&#226;ntico,&#8221;, which is engaged in the mining segment signed a binding proposal for the acquisition of 100% of TUP Porto S&#227;o Luis S.A., or &#8220;Porto S&#227;o Luis,&#8221; for an amount of R$804,803 from the controlling shareholder, S&#227;o Lu&#237;s Port Company SARL, a China Communications Construction Company Limited, or &#8220;CCCC,&#8221; (owed of 51% interest) and the other minority shareholders jointly holding a 49% interest. On February 11, 2022, the acquisition was completed which resulting in the Company holding&#160;100% of the equity interest in Porto S&#227;o Luis.<br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>In addition, on August 23, 2021, Atl&#226;ntico signed a Binding &#8220;MoU&#8221; with the company Grupo Paulo Brito, founder and controller of Aura Minerals Inc. (&#8220;Aura&#8221;), a mining company focused on gold and copper, to form a joint venture for the exploration of iron ore, which will be shipped through TUP Porto S&#227;o Luis S.A. (&#8220;JV Minera&#231;&#227;o&#8221;). This MoU provides that Atl&#226;ntico will hold 37% of the total capital and shared control of the new combined entity, or 50% of the common shares of the new combined entity, after the contribution of Porto S&#227;o Luis and cash, depending on calls from capital by the Company&#8217;s management. JV Minera&#231;&#227;o will be an integrated mining and logistics company, which will have, in addition to Porto S&#227;o Luis, exploration rights for mining assets in three mineral projects located in the state of Par&#225;, with significant potential for iron ore reserves, to be sold through the Port of S&#227;o Luis. With the beginning of its operations expected for 2025, the first mineral project to be explored by JV Minera&#231;&#227;o is located near to Paraupebas in the state of Par&#225;, in the Caraj&#225;s region, connected to Porto S&#227;o Luis by the Caraj&#225;s railroad. The completion of the transaction is subject to conditions precedent that have not yet been met as of the date of this consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On September 1, 2021, Cosan S.A anticipated the payment of obligations with non-controlling preferred shareholders of Cosan Investimentos e Participa&#231;&#245;es S.A (&#8220;CIP&#8221;) for the amount of R$182,373. On December 1, 2021, CIP was merged into the Company. Considering that CIP<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8217;</span>s net assets were represented by the investment in Ra&#237;zen S.A., the effect in the Company&#8217;s consolidated financial statements&#160;was a reclassification between the lines of &#8220;Investments in subsidiaries and associates&#8221; to &#8220;Investment in joint venture.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On September 10, 2021, the subsidiary Rumo definitively ended the existing arbitration procedure with the non-controlling shareholders of Brado Log&#237;stica e Participa&#231;&#245;es S.A. (Log&#237;stica Brasil &#8211; Fundo de Investimento e Participa&#231;&#245;es, Dimitrio Markakis and Deminvest Empreendimentos e Participa&#231;&#245;es), acquiring 2,000 shares,&#160; representing&#160;15.42% of the share capital, for R$388,739, increasing its interest to 77.65% in Brado Log&#237;stica e Participa&#231;&#245;es S.A.</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On September 19, 2021, the subsidiary Rumo Malha Norte S.A. (&#8220;Rumo Malha Norte&#8221;) entered into an adhesion agreement with the State of Mato Grosso, which allows Rumo Malha Norte to engage in the construction, operation, exploration and conservation of a railroad that independently connects the Rondon&#243;polis railroad terminal to Cuiab&#225; and Lucas do Rio Verde in the state of Mato Grosso. </span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On September 20, 2021, Cosan entered into a Share Purchase Agreement with Mansilla Participa&#231;&#245;es Ltda. (&#8220;Mansilla,&#8221; a vehicle of the investment fund TIAA &#8211; Teachers Insurance and Annuity Association of America), for the acquisition of an additional shareholding interest in Radar. On November 3, 2021, the Company acquired control of Radar from Mansilla. For more information, see Note 9.3. </span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On October 19, 2021, under the Amendment to the Sale and Purchase of Member Interests, the Company and ExxonMobil International Holdings BV agreed on the payment made by Cosan Lubrificantes e Especialidades S.A. (&#8220;CLE&#8221;) of R$208,118 related to tax credits granted during the Tax Optimization Program that CLE has entered into. CLE has now the full right of these tax credits.</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span>On October 22, 2021, Compass Um Participa&#231;&#245;es S.A., a subsidiary of Compass G&#225;s e Energia, submitted the winning bid in Auction No. 01/2021, held at the Brazilian stock Exchange B3&#160;for the acquisition of&#160;51% interest in Companhia de G&#225;s do Estado do Rio Grande do Sul (&#8220;Sulg&#225;s&#8221;)&#8217;s capital, owned by the Government of the State of Rio Grande do Sul. Sulg&#225;s&#8217;s distribution network totals approximately&#160;1,400 km, serving over&#160;68,000&#160;customers in 42 cities, and distributes a volume of two million cbm/day. The acquisition was completed on January 3, 2022. The consideration transferred amounted to R$955,244. A preliminary concession right in the amount of R$2,777,415&#160;was recorded as an intangible asset . The 49% non-controlling interest totaling R$917,783, recognized on the acquisition date, was measured based on the fair value of the non-controlling interest.&#160; &#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>&#160; &#160; &#160; &#160; 2.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Recent developments and other information</span></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-style: italic;"><span>COVID-</span><span>19</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span> During the year ended on December 31, 2021, the Company and jointly controlled companies continue to monitor the evolution of the COVID-19 pandemic in Brazil and worldwide, in order to take preventive measures to minimize the spread of the virus, ensure continuity of operations and safeguard the health and safety of our employees and partners. The response to the pandemic has been effective in limiting the impacts on our operational facilities, employees, supply chain and logistics.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span><span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">On December 31, 2021, the Company had positive consolidated working capital of R$</span>14,336,147<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>(R$</span>10,887,874<span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>on December 31, 2020), profit for the year of R$</span>6,696,460<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>(R$</span>1,488,294<span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>on December 31, 2020) and cash and cash equivalents and marketable securities of R$</span>20,546,826<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>(R$</span>17,312,027<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span>&#160;</span>on December 31, 2020).</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our debt covenants are assessed monthly for our need to generate sufficient cash flows to meet indebtedness and our ability to meet the covenants contained in the contracts that govern our indebtedness. As of December 31, 2021, the Company was in compliance with all restrictive financial clauses.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span>Considering the level of interest rates in Brazil and in the locations of our subsidiaries, we consider that despite the short-term fluctuations in some macroeconomic assumptions due to the impacts of the COVID-19 pandemic, our weighted average cost of capital should not undergo material changes.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company assessed the circumstances that could indicate impairment of its non-financial assets and concluded that there were no changes in the circumstances th<span>at <span>would indicate an impairment loss. Our tax recovery projections are based on the same scenarios and assumptions used in the impairment assessment.</span> </span></span><br/></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-size: 10pt; text-align: justify;">Losses</span><span style="font-size: 10pt; text-align: justify;"> due to the non-recoverability of financial assets were calculated based on the credit risk analysis, which includes the history of losses, the individual situation of the customers, the situation of the economic group to which they belong, the real guarantees for debts and macroeconomic indicators and is considered on December 31, 2021, sufficient to cover possible losses on the amounts receivable, in addition to a prospective assessment that consider the change or expected change in economic factors that affect the expected credit losses, which will be determined based on weighted probabilities and measured at an amount equal to the expected credit loss for life.</span></p>
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<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The credit quality of accounts receivable falling due is considered adequate, and the amount of the effective risk of possible losses in accounts receivable from customers is presented as losses due to the non-recoverability of financial assets.</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Our inventories are composed, substantially, of lubricants, base oil and materials for the construction of gas pipelines, which are products that are do not expire or have a long duration and, therefore, we do not observe indicators of obsolescence or impairment.</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">To date, there have been no changes in the scope of the Company's leases, including adding, terminating, extending and reducing the contractual term of the lease. Also, there was no change in the consideration for the leases that we are lessees and lessors. </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; font-weight: bold; font-style: italic;"> Russian-Ukrainian conflict </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On February 24, 2022, Russian troops started invading Ukraine. The ongoing military attack has led, and continues to lead, to significant casualties, dislocation of the population, damage to infrastructure and disruption to economic activity in Ukraine. </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In response, multiple jurisdictions, including the European Union, the United Kingdom and the United States have imposed initial tranches of economic sanctions on Russia (and in certain cases Belarus). In addition to the imposition of sanctions, a growing number of large public and private companies have announced voluntary actions to curtail business activities with Russia and Belarus. These actions include plans to dispose of assets or discontinue operations in Russia/Belarus, curtailing exports to, or imports from, these countries and discontinuing the provision of services. Moreover, the war has added to mounting concerns of a sharp global growth slowdown.&#160;</span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a company that operates globally through its subsidiaries and joint venture, the ongoing conflict between Russia and Ukraine, and/or economic sanctions and import and/or export controls have not materially affected the Company&#8217;s financial statements to date. The main operations that may be affected are: </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)&#160; &#160; &#160;Fertilizer transported volumes; </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(ii)&#160; &#160; Unfavorable conditions for obtaining fertilizers affecting sugarcane production capacity; </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iii)&#160; &#160;An increase in oil prices as a result of a more limited supply of Russian oil globally may also lead to a decrease of our margins and an increase in the costs of acquisition of basic inputs such as diesel oil; and </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iv)&#160; Measures by the Brazilian government and the Brazilian Central Bank to contain inflation, such as raising the basic interest rate, which could materially impact the cost of debt and third-party capital for our financing and investing activities. </span></p>
<p style="text-align: justify; margin: 0pt 0pt 10pt 39.7pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Although the Company, its subsidiaries and joint venture do not conduct material business in Russia or Ukraine, we closely monitor the indirect effects that the war in Ukraine could have on international supply chains, and therefore cost of inputs and overall inflation.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Cybersecurity<span>&#160;</span>Incident</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On March 11, 2020, the Company, its subsidiaries and jointly controlled companies suffered a<span>&#160;</span>cyber-attack by<span>&#160;</span>ransomware<span>&#160;</span>that caused a partial and temporary interruption of our operations.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Following the incident, the Company made significant investments in privacy, protection and security of information/cybernetics, both in technologies and in processes and hiring for the teams. As part of the actions, we take steps to combat access and misuse of our data, including more robust investigations and audits of our information technology systems. As a result of these efforts, we mitigate additional incidents of data misuse or other undesirable activities by third parties.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, we performed an audit and forensic assessment of the attack suffered and did not identify any relevant impacts on the consolidated financial statements.</span></p>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487498248">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of accounting<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">3.&#160; &#160; &#160; Basis of preparation</span></p>
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<p style="margin: 0pt 0pt 8pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">3.1</span></span></span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Statement of compliance&#160;</span></span></p>
<p style="margin: 0pt 0pt 8pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;).</span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The relevant information of the financial statements, and only them, are being evidenced and correspond to those used by management in its management.&#160;</span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">These consolidated financial statements were authorized for issue by the Board of Directors of Cosan S.A. on May 13, 2022.</span></p>
<p style="margin: 0pt 0pt 8pt 20pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">3.2</span></span></span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Corporate Reorganization</span><span style="font-weight: bold;">&#160;&#8211; Predecessor method</span></span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As mentioned in Note 1, on January 22, 2021, the shareholders of Cosan Limited (the former parent company of Cosan S.A. and Cosan Log&#237;stica S.A.) and the shareholders of Cosan S.A. and Cosan Log&#237;stica S.A. approved a corporate reorganization, pursuant to which Cosan Limited and Cosan Log&#237;stica S.A. were merged into Cosan S.A. As a result of the Corporate Reorganization, Cosan S.A. became the sole holding company of the Cosan Group.&#160;</span></p>
<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IFRS provides no guidelines for the accounting of corporate reorganizations among entities under common control, as such, based on the guidance of International Accounting Standards (&#8220;IAS&#8221;) 8, Accounting Policies, Changes in Accounting Estimates and Errors, paragraphs 10 through 12, the Company developed and applied and accounting policy, considering the most recent pronouncements of other standard-setting bodies that use a similar conceptual framework to develop accounting standards other accounting literature and industry practices.</span></p>
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<p style="text-align: justify; margin: 0pt 0pt 8pt 39pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a result, the Company accounted for the Corporate Reorganization using the predecessor method of accounting, and the consolidated financial statements are presented &#8220;as if&#8221; Cosan Limited is the predecessor of the Company. Under the predecessor method, the historical operations of Cosan Limited are deemed to be those of the Company. Thus, these consolidated financial statements reflect:</span></p>
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<td style="width: 2.97275%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 93.2849%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the historical operating results and financial position of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>Limited prior to the Corporate Reorganization;</span></td>
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<td style="width: 2.97275%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 93.2849%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the consolidated results and financial position of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A following the Corporate Reorganization;</span></td>
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<td style="width: 2.97275%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="width: 93.2849%; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">the assets and liabilities of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. at their historical cost;</span></td>
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<td style="width: 2.97275%; height: 17px;">(iv)</td>
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<p>Cosan S.A&#8217;s earnings per share for all periods presented. The number of ordinary shares outstanding of Cosan S.A., as a result of the corporate reorganization is reflected retroactively as of January 1, 2019, for purposes of calculating earnings per share in all prior periods presented. See note 18; and<br/></p>
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<td style="width: 2.97275%;">(v)</td>
<td style="width: 93.2849%;">
<p>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A. owned<span>&#160;</span></span>40,065,607<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>shares of<span>&#160;</span></span>Rumo<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>S.A., representing<span>&#160;</span></span>2.16<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of its shareholders' equity, and<span>&#160;</span></span>477,196<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>shares of<span>&#160;</span></span>Cosan<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span></span>Log&#237;stica<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, representing<span>&#160;</span></span>0.10<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of its shareholders' equity. These shares were recorded in the financial position as a financial asset, being measured at fair value through profit or loss, as Management considered trading these shares.</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">With the corporate reorganization, the financial asset, as well as its applicable taxes, was derecognized by R$734,903<span>&#160;</span>and, consequently, an investment in subsidiary of R$329,118<span>&#160;</span>was recorded. Additionally, the amount of R$313,758<span>&#160;</span>was recognized in the capital reserve.<br/></span></p>
</td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span></span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">3.3</span></span></span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Changes in the presentation and classification of concession intangible assets amortization expense</span></span><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company re-assessed its presentation of the amortization expense related to its concession intangible assets in its statement of profit or loss and comprehensive income. The Company had previously presented the amortization expense related to its concession intangible assets in selling, general and administrative expenses. The Company elected to change the presentation of the amortization expense related to its concession intangible assets to cost of sales, as the Company believes that such presentation provides more relevant information to the users of its financial statements as it is more aligned to practices adopted by industry. This reclassification does not impact regulatory margins or key indicators used by the Company. The Company has recast the statement of profit or loss and comprehensive income for prior periods as follows:</span></p>

<table style="height: 252px; width: 100%; margin-left: 0.1px; border-style: none; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px; border-style: none; margin-left: 0.1px;">
<td style="height: 10px; width: 62.9232%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2020</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">Reclassification</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2020 (restated)</span></b> </span></td>
<td style="height: 10px; width: 1.07349%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="height: 19px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Net sales </span></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,437,835 </span></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 19px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,437,835 </span></td>
<td style="height: 19px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="height: 19px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cost of sales </span></td>
<td style="height: 19px; width: 0.990917%;"><br/></td>
<td style="height: 19px; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,501,725</span></td>
<td style="height: 19px; width: 0.990917%; border-bottom-width: 1px;">)</td>
<td style="height: 19px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (498,098</span></td>
<td style="height: 19px; width: 0.990917%; text-align: left;"><span style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; font-weight: bold;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></span></b></span></td>
<td style="height: 19px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,999,823</span></td>
<td style="height: 19px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Gross profit</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">5,936,110</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(498,098</span></b></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">5,438,012</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Selling expenses </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (959,146</span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 297,239 </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (661,907</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> General and administrative expenses </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,790,678</span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;">200,859</span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,589,819</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Other income, net&#160;</span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 176,869 </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 176,869 </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Operating expenses</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(2,572,955</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">498,098</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(2,074,857</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before equity in earnings of</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: #000000;">&#160; &#160; &#160;investees, finance results and income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,363,155</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,363,155</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Equity in earnings of investees</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">611,802</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">611,802</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Finance results, net</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,983,996</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,983,996</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,990,961</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,990,961</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(502,667</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(502,667</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit for the year</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,488,294</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,488,294</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;">&#160;</p>
<table style="height: 250px; width: 100%; margin-left: 0.1px; border-style: none; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px;">
<td style="height: 10px; width: 62.9232%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2019</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">Reclassification</span></b> </span></td>
<td style="height: 10px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2019 (restated)</span></b> </span></td>
<td style="height: 10px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Net sales </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,611,409 </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,611,409 </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cost of sales </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,160,233</span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (456,752</span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,616,985</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Gross profit</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">6,451,176</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(456,752</span></b></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">5,994,424</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Selling expenses </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,122,866</span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 456,752 </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (666,114</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> General and administrative expenses </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,236,062</span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,236,062</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Other income, net </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 404,686 </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 404,686 </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Operating expenses</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,954,242</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">456,752</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,497,490</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before equity in earnings of</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: #000000;">&#160; &#160; &#160;investees, finance results and income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">4,496,934</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">4,496,934</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="width: 62.9232%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Equity in earnings of investees</span></b> </span></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,132,637</span></b> </span></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 19px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,132,637</span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Finance results, net</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,967,623</span></b></span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,967,623</span></b></span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
</tr>
<tr style="height: 17px;">
<td style="width: 62.9232%; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before income taxes</span></b> </span></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,661,948</span></b> </span></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="width: 0.990917%; text-align: left; height: 17px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,661,948</span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Income taxes</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(779,596</span></b></span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(779,596</span></b></span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
</tr>
<tr>
<td style="width: 62.9232%;"><span> <span style="color: #000000;">Profit from discontinued operation, net of tax</span> </span></td>
<td style="width: 0.990917%;"><br/></td>
<td style="width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times;">11,021</span></td>
<td style="width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></td>
<td style="width: 0.990917%; text-align: left;"><br/></td>
<td style="text-align: right; width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11,021</span></td>
<td style="width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit for the year</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">2,893,373</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">2,893,373</span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the basis used for the preparation of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964479960936">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">
<div style="margin: 0 auto;">

<p style="margin: 0pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">4.&#160; &#160; &#160; &#160; &#160; Accounting policies</span></p>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 39pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The accounting policies applied in the preparation of these consolidated financial statements are described in their respective notes, except those described below:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>

<p style="margin: 0pt 0pt 9pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold; margin: 0pt 0pt 10pt 21.4pt;"><span style="border-left: none; border-right: none;">4.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Functional and presentation currency</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The consolidated financial statements are presented in Brazilian reais. However, the functional currency of Cosan Limited (the predecessor of the Company) is the U.S. dollar. The functional currency of Cosan S.A. is the Brazilian reais, which is the currency of the primary economic environment in which Cosan S.A. and its subsidiaries and jointly-controlled entity, located in Brazil, operate and generate and expend cash. The functional currency of subsidiaries located outside Brazil is the U.S. dollar, British pound or the Euro. All amounts have been rounded to the nearest thousand, unless otherwise indicated.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Monetary assets and liabilities denominated and calculated in foreign currencies on the balance sheet date are reconverted to the functional currency at the exchange rate on that date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are reconverted to the functional currency at the exchange rate on the date the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate on the transaction date. Foreign currency differences resulting from translation are generally recognized in profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Brazilian reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian reais at the exchange rates at the dates of the transactions.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency differences are recognized and presented in other comprehensive income in shareholders' equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of such control, loss or significant influence is lost, the accumulated amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal.&#160;</span></p>

</div>
<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table set forth the exchange rate, expressed in reais (R$) per U.S. dollar (U.S.$), British pound (&#163;) and Euro (&#8364;), as reported by the Central Bank of Brazil (Banco Central do Brasil), &#8220;BACEN,&#8221; for the years indicated:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_27F3RK907K00000000000000000000b">
<table cellpadding="0" style="height: 69px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="text-decoration: underline; font-size: 8pt;"> Currency </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S. dollar (U.S.$) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.581 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.197 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> British pound (&#163;) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.101 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.325 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Euro (&#8364;) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.321 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.378 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.531 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">4.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Use of judgments and estimates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In preparing these consolidated financial statements, Management has made judgments and estimates that affect the application of the Company&#8217;s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Those estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and relevant under the circumstances.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Estimates and underlying assumptions are reviewed on an ongoing basis and recognized prospectively. Information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.3 &#8211; Trade receivables</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.7 &#8211; Leases</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.9 &#8211; Sector financial assets and liabilities</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.11 &#8211; Recognized fair value measurements</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 10 &#8211; Investments in joint venture</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Notes 11.1 e 11.2 &#8211; Property, plant and equipment, intangible assets and goodwill</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 11.5 &#8211; Investment property</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 12 &#8211; Commitments</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 15 &#8211; Income tax</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 16 &#8211; Provision for legal proceedings</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 23 &#8211; Post-employment benefits</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 24 &#8211; Share-based payments</span></li>
</ul>

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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487467640">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">5.&#160; &#160; &#160; &#160; Segment information</span></p>
<p><span style="font-family: 'times new roman', times; font-size: 10pt; margin-left: 14px; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The following segment information is used by Company&#8217;s senior management (the &#8220;Chief Operating Decision Maker&#8221;) to assess the performance of the operating segments and to make decisions with regards to the allocation of resources. This information is prepared on a basis consistent with the accounting policies used in the preparation of the financial statements. The Company evaluates the performance of its operating segments based on the measure of Earnings Before Interest Taxes, Depreciation and Amortization (&#8220;EBITDA&#8221;).&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Reported segments</span></p>
<ol style="margin: 0pt; padding-left: 0pt; font-family: 'times new roman', times; font-size: 10pt;">
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen: fuel distribution and marketing, primarily through a franchised network of service stations under the Shell brand throughout Brazil, petroleum refining, fuel retailer operation, convenience store business, the manufacture and sale of automotive and industrial lubricants, and the production and sale of liquefied petroleum gas throughout Argentina; in addition to the production and marketing of a variety of products derived from sugarcane, including raw sugar (Very High Polarization, or &#8220;VHP&#8221;), anhydrous and hydrated ethanol, activities related to energy cogeneration from sugarcane bagasse, and sale of electricity, comprising the purchase and sale of electricity to other traders. In addition, this segment has interests in companies involved in research and development of new technologies. Prior to the Ra&#237;zen Reorganization the Company had two reportable segments; Ra&#237;zen Combust&#237;veis and Ra&#237;zen Energia. In 2021, as a result of such reorganization the Company presents a single Ra&#237;zen segment and has recast prior periods segment information;</span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span>Gas and Power: its main activities are: (i) distribution of piped natural gas in part of the State of S&#227;o Paulo to customers in the industrial, residential, commercial, automotive and cogeneration sectors; and (ii) the sale of electricity, comprising the purchase and sale of electricity to other traders, to consumers who have a free choice of supplier and to other agents permitted by law, (iii) other investments in the development process and corporate activities, including, Rota 4 and Edge II - Empresa de Gera&#231;&#227;o de Energia S.A.;</span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Moove: production and distribution of lubricants under the Mobil brand in Brazil, Argentina, Bolivia, Uruguay, Paraguay, the United States of America and Europe, as well as in the European and Asian markets under the &#8220;Comma&#8221; trademark and corporate activities;</span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Logistics: logistics services for rail transportation, storage and port loading of commodities, mainly for grains and sugar, leasing of locomotives, wagons and another railroad equipment; </span></li>
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Investments: management of agricultural properties, mining and logistics projects and investment in the Climate Tech Fund, a fund managed by Fifth Wall, specializing in technological innovation; and</span></li>
</ol>
<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Reconciliation&#160;</span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="margin: 0pt 0pt 10pt 58.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt; font-family: 'times new roman', times; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Cosan Corporate: digital wallet platform and other investments, in addition to the corporate activities of the Company. The Cosan corporate segment includes the financing subsidiaries for the Cosan group.</span></li>
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<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Although, Ra&#237;zen S.A. is a joint venture recorded under the equity method and is not proportionally consolidated, the chief operating decision maker continues to review the information by segment. The reconciliation of this segment is presented in the column &#8220;Deconsolidation effects&#8221;.</span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td colspan="28" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 87.2492%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021&#160; &#160; &#160;</span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="14" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 46.333%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported Segments </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.64023%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
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<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.831255%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments</span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 1.41643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.831255%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> Statement of profit or loss </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 188,825,984 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 15,711,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 7,697,074 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 7,944,312 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 32,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 9,002 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (188,825,984 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 31,337,931 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 182,035,680 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 15,711,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 7,021,757 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 7,606,966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 32,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 9,002 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (182,035,680 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 30,325,268 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 6,790,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 675,317 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 337,346 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (6,790,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 1,012,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 175,047,270 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 12,330,209 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 6,112,457 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 7,439,632 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 8,292 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (175,047,270 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 25,865,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (163,367,574 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (9,755,425 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (4,808,643 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (5,352,040 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (5,231 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 163,367,574 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (19,864,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 11,679,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 2,574,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 1,303,814 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 2,087,592 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 3,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (11,679,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 6,000,753 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (3,882,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (125,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (551,520 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (38,959 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (7,528 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 3,882,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (723,419 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (1,788,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (502,048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (269,810 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (472,739 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (6,499 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (321,261 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 1,788,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (1,572,357 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 717,792 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 25,569 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 23,414 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (69,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 21,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 381,617 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (717,792 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 382,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (43,534 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 12,857 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 2,195,679 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 43,534 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (2,078,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 130,225 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 4,590,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 4,590,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (1,967,124 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (289,616 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (63,797 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (1,359,940 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 3,199 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (847,403 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 1,967,124 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (2,557,557 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (1,606,724 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (900,783 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (61,870 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (705,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (51 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (859,179 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 1,606,724 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (2,527,506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 580,266 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 703,204 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 58,071 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 399,134 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 3,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 94,782 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (580,266 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 1,258,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (1,076,722 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (60,953 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (66,118 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (489,952 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (482,513 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 1,076,722 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (1,099,536 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 136,056 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (31,084 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 6,120 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (563,499 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 399,507 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (136,056 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (188,956 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,350,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 59,360 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (147,138 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (4,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (4,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 541,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,350,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 445,584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,365,708 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,742,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 294,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 155,741 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 45,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,536,426 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (3,365,708 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,078,311 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,696,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit (loss) attributable to: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 3,379,014 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 1,650,725 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 205,139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 150,539 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 22,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 6,361,546 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (3,379,014 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (2,078,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 6,312,140 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (13,306 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 91,912 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 89,824 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 5,202 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 22,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 174,880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 13,306 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 384,320 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 14.0227%; vertical-align: bottom;" valign="bottom">
<p style="margin: 0px; text-align: right; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.52437%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,365,708 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.64023%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,742,637 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.708215%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 7.64873%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 294,963 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.35694%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 155,741 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.831255%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.35694%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 45,004 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 1.41643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 7.79037%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,536,426 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.708215%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 10.1983%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (3,365,708 </span></p>
</td>
<td style="padding: 0px 0px 3px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.831255%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.35694%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,078,311 </span></p>
</td>
<td style="padding: 0px 0px 3px; height: 18px; background-color: #cceeff; width: 0.708215%; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.141643%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.64023%; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,696,460 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; width: 0.849858%; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other select data </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 6,393,642 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 559,994 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 96,852 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 1,830,683 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 39 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 16,818 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (6,393,642 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (2 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 2,504,384 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 13,076,726 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 2,532,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 602,750 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 3,350,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 46,059 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 6,859,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (13,076,726 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (2,078,313 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 11,312,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions to PP&amp;E, intangible </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and contract asset </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 5,282,100 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 1,269,886 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 42,536 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 3,453,407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 8,732 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (5,282,100 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 4,774,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation of EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 3,365,708 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 1,742,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 294,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 155,741 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 45,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 6,536,426 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (3,365,708 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (2,078,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 6,696,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 1,350,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (59,360 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 147,138 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 4,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 4,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (541,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (1,350,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (445,584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 1,967,124 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 289,616 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 63,797 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 1,359,940 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (3,199 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 847,403 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (1,967,124 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 2,557,557 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,393,642 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 559,994 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 96,852 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,830,683 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 39 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 16,818 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (6,393,642 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.708215%;"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,504,384 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 13,076,726 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,532,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 602,750 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,350,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 46,059 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,859,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span>13,076,726</span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.849858%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span>2,078,313</span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.708215%;"><span style="font-weight: bold; font-size: 10pt;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 18px; border-bottom: 2.8pt double #000000; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 11,312,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 20pt; text-align: justify; text-indent: -17.85pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 20pt; text-align: justify; text-indent: -17.85pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160; </span>Domestic markets: sales within the country where each entity is located; external markets: sales export.</span></p>
</div>
</div>
</div>
<div>
<div style="margin: 0 auto;">

<div id="t_ft_KC8X85WXY800000000000000000000b">
<table cellpadding="0" style="height: 667px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="23" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 80.3735%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 (Restated) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="11" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 39.0548%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported Segments</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px; width: 29.3921%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 8.59049%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.917431%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.917431%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 1.28535%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Statement of profit or loss </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 127,832,718 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 12,024,615 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 5,588,754 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 7,349,804 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (127,832,718 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (37,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 24,926,166 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 117,788,563 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 12,024,615 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 5,117,770 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 6,978,624 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (117,788,563 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (37,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 24,084,002 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 10,044,155 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 470,984 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 371,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (10,044,155 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 842,164 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 118,049,722 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 9,093,170 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 4,415,575 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 6,966,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 818 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (118,049,722 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (37,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 20,437,835 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (110,800,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (6,932,288 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (3,380,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (4,721,507 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (3,611 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 110,800,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 37,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (14,999,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 7,249,224 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,160,882 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 1,035,271 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,244,652 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (2,793 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (7,249,224 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 5,438,012 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (3,264,756 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span>(156,892 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><span style="font-size: 10pt; font-family: 'times new roman', times;">)</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (471,829 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (30,670 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (2,516 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 3,264,756 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (661,907 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (1,263,733 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (376,615 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (229,672 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (411,336 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (572,196 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 1,263,733 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (1,589,819 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 554,126 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 56,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 34,876 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 128,388 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (42,571 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (554,126 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 176,869 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (88,323 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 13,087 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,746,969 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 88,323 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 28,801 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (87,567 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 583,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 87,567 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 583,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (1,431,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (282,773 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (129,342 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (1,503,221 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (68,660 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 1,431,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (1,983,996 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (2,345,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (374,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (30,910 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (2,920,241 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (1,402,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 2,345,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (4,727,561 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 690,678 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 72,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 20,086 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 177,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 137,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (690,678) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 407,710 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> (3,821,462 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (150,227 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (161,636 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (1,577,342 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (1,369,451 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 3,821,462 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> (3,258,656 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 4,045,288 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 169,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 43,118 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,817,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,565,031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (4,045,288 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 5,594,511 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (537,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (460,312 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (87,941 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (169,990 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 215,576 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 537,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (502,667 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,130,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 940,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 151,363 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 270,910 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,856,810 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,130,700 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,488,294 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit attributable to: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 1,081,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 923,420 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 104,570 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 43,602 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,519,145 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (1,081,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 859,482 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 49,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 17,046 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 46,793 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 227,308 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 337,665 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (49,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 628,812 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 18.2652%; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.69618%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 1,130,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.42369%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 940,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.34028%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 151,363 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.42369%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 270,910 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.42369%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 1,856,810 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.28535%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.67389%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (1,130,700 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.50709%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.59049%; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 1,488,294 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.834028%; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other select data </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 5,059,239 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 500,714 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 108,687 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,715,527 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 15,926 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (5,059,239 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 2,340,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 8,158,210 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,184,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 477,333 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 3,659,648 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,725,820 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (8,158,210 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 6,315,811 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions to PP&amp;E, intangible </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and contract asset </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 3,159,415 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,006,881 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 29,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,979,213 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 18,936 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (3,159,415 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 4,034,688 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation of EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 1,130,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 940,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 151,363 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 270,910 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,856,810 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (1,130,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 1,488,294 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 537,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 460,312 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 87,941 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 169,990 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (215,576 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.28535%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (537,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 502,667 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.69618%;">
<p style="margin: 0pt; text-align: right;"><span> 1,431,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 282,773 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 129,342 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,503,221 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 68,660 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (1,431,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.59049%;">
<p style="margin: 0pt; text-align: right;"><span> 1,983,996 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 5,059,239 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 500,714 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 108,687 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,715,527 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 15,926 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (5,059,239 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,340,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> EBITDA </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.69618%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 8,158,210 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,184,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 477,333 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,659,648 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,725,820 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.28535%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (8,158,210 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,731,255 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; width: 8.59049%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 6,315,811 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 0.917431%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 71.45pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160; </span>Domestic markets: sales within the country where each entity is located; external markets: sales export.</span></p>

</div>
<div style="margin: 0 auto;">
<div id="t_ft_0OF8F9U1Y800000000000000000000b">
<table cellpadding="0" style="height: 704px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="26" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 222.432%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 (Restated)</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="10" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported segments&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.8285%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.8285%; height: 18px;"><br/></td>
<td colspan="8" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; width: 8.4507%; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 151.098%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Statement of profit or loss </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 140,230,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 12,007,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 5,072,163 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 7,473,730 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 106 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (140,230,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (37,047 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 24,516,586 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 132,455,731 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 12,007,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 4,948,678 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 7,232,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 106 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (132,455,731 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (37,047 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 24,151,529 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 25px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 7,774,321 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 123,485 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 241,572 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (7,774,321 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 25px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 365,057 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 129,349,463 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 9,514,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 4,046,296 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 7,087,840 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 98 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (129,349,463 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (37,047 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 20,611,409 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (122,429,335 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (6,859,090 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (3,185,745 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (4,608,781 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (416 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 122,429,335 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 37,047 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (14,616,985 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 6,920,128 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 2,655,132 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 860,551 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 2,479,059 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (6,920,128 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 5,994,424 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (3,069,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (157,740 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (492,482 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (6,983 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (8,909 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 3,069,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (666.114 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (1,232,666 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (404,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (173,212 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (364,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (293,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 1,232,666 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (1,236,062 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 2,021,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (31,534 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 31,806 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (24,084 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 428,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (2,021,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 404,686 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 115,168 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 439 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 21,876 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 2,822,914 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (115,168 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 1,231 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (7,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,131,406 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 7,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 1,131,406 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (1,296,237 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (180,381 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (96,794 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (1,197,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (492,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 1,296,237 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (1,967,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (2,180,426 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (495,958 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (38,514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (1,871,221 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (1,284,885 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 2,180,426 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (3,690,578 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 767,336 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 315,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 22,385 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 202,875 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 433,710 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (767,336 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 974,604 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> (571,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (27,518 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (92,989 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (205,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (200,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> 571,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> (526,946 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 688,230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 27,461 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 12,324 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 676,368 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 559,144 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (688,230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 1,275,297 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (923,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (588,389 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (55,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (129,247 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (6,754 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 923,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (779,596 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from continuing operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,292,647 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 75,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 778,249 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 3,580,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 2,882,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from discontinued </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> operation, net of tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 11,021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 11,021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,292,647 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 75,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 778,249 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,591,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,893,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 2,399,076 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,255,369 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 72,971 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 157,216 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 3,586,632 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (2,399,076 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (3,755,847 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 1,316,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 128,652 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 37,278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,131 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 621,033 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 4,741 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (128,652 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 911,849 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,577,032 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,292,647 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 75,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 778,249 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,591,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,527,728 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,893,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other select data </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 3,625,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 459,584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 97,827 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,716,185 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 14,281 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (3,625,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 2,287,877 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 15px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EBITDA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 8,372,975 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 2,521,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 324,929 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 3,821,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 4,094,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (8,372,975 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 7,917,448 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions to PP&amp;E, intangible </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and contract asset </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 3,586,261 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 775,769 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 32,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,943,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 11,251 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (3,586,261 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 2,762,937 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation of EBITDA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,292,647 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 75,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 778,249 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 3,580,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (2,527,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 2,882,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 923,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 588,389 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 55,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 129,247 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 6,754 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (923,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 779,596 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.53355%;">
<p style="margin: 0pt; text-align: right;"><span> 1,296,237 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 180,381 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 96,794 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 1,197,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> 492,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.6164%;">
<p style="margin: 0pt; text-align: right;"><span> (1,296,237 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.4507%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 151.098%;">
<p style="margin: 0pt; text-align: right;"><span> 1,967,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.3099%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,625,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 459,584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 97,827 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,716,185 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 14,281 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (3,625,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,287,877 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.91135%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 18.3099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> EBITDA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.53355%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 8,372,975 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,521,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 324,929 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,821,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 4,094,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.6164%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (8,372,975 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 8.4507%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (2,843,998 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 151.098%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 7,917,448 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.8285%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.91135%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 71.45pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160; </span>Domestic markets: sales within the countries where each entity is located; external markets: sales export.</span></p>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-size: 10pt; text-align: right;">&#160;</span></p>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div id="t_ft_Z8EM3GPJVK00000000000000000000b">
<table cellpadding="0" style="height: 612px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="26" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="13" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported segments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">&#160;&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 19%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Statement of financial position</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 8%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 16px; width: 0.5%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 110,136,182 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 19,982,611 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,850,344 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 48,174,556 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,484,805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 35,054,649 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (110,136,182 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (14,704,942 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 97,842,023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 5,034,788 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,562,358 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,059,866 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 9,448,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 7,468 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,096,245 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (5,034,788 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 16,174,130 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 154,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,876,006 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 129,390 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,425,897 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 46,094 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 910,620 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (154,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,388,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 7,618,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,427,720 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 605,928 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 503,316 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 207,761 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,128 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (7,618,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,745,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> 11,805,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> 358,456 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> 26,513 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> 1,674,821 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> 2,673,136 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> (11,805,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span> 4,732,926 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inventories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 14,297,068 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 129,554 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 790,825 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 228,923 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (14,297,068 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,149,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 558,310 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 558,310 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 261,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 319,728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (261,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 320,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 12,545,650 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 340,909 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 298,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 747,308 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 13,470 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,599,793 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (12,545,650 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (668,152 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,331,332 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 23px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 8,562,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,370,964 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 246,934 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,197,105 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 354 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,180,558 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (8,562,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (240,673 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 6,755,242 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 57,844 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 14,518,340 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> (13,796,117 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 780,067 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;"><br/></td>
</tr>
<tr style="height: 23px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,317,720 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 10,936,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,317,720 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 10,936,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Biological assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 3,106,744 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (3,106,744 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,886,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,886,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contract asset </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,941,390 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 684,970 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 21,011 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (2,941,390 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 705,982 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right-of-use assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 10,758,442 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 73,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 51,458 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 7,784,941 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,203 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 34,445 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (10,758,442 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 7,947,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 16px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 22,506,160 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 271,490 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 334,065 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 15,974,562 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 31 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 68,405 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> (22,506,160 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 16px;">
<p style="margin: 0pt; text-align: right;"><span> 16,648,553 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px;"><br/></td>
</tr>
<tr style="height: 16px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Intangible assets and goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 9,226,852 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 9,328,654 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,285,884 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 7,131,645 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 35,315 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (9,226,852 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 17,781,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 16px; background-color: #cceeff;"><br/></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: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-weight: bold;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(</span><span>84,736,772</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (13,609,495 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (2,564,187 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (33,156,493 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (246,599 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (20,305,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 84,736,772 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 909,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (68,972,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (26,967,092 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (7,667,987 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (831,148 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (21,178,748 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (15,981,154 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 26,967,092 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (45,659,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (12,377,276 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (357,932 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (576,749 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (141,480 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 12,377,276 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (1,076,161 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (15,678,442 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,798,977 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (828,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (618,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,006 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (6,173 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 15,678,442 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,253,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employee benefits payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (788,948 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (104,404 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (132,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (255,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (60,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 788,948 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (552,991 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,372,283 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,372,283 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (9,591,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (472,592 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (349,967 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,384,611 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (48,739 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,384,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 9,591,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 148,171 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (3,491,829 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (10,685,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (63,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (53,436 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,106,883 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,253 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (40,358 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 10,685,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,267,682 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (8,647,572 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (1,771,568 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (368,788 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (6,034,881 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (193,601 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (2,691,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 8,647,572 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 761,665 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (10,298,514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 28px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 28px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets (net of liabilities) allocated by segment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 25,399,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 6,373,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 2,286,157 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 15,018,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 4,238,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 14,749,587 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (25,399,410 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (13,795,107 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 28px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 28,870,022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 28px; background-color: #cceeff;"><br/></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 23,870,251 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 5,585,768 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,599,949 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,479,944 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,119,104 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 14,751,279 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (23,870,251 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (13,795,107 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 14,740,937 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,529,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 787,348 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 686,208 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 10,538,119 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,119,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,692 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,529,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 14,129,085 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 25,399,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 6,373,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 2,286,157 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 15,018,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 4,238,206 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 14,749,587 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (25,399,410 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (13,795,107 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 28,870,022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>

</div>
</div>
<div>
<div style="margin: 0 auto;">
<div id="t_ft_XP4B6XLSXS00000000000000000000b">
<table cellpadding="0" style="height: 636px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="22" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 79.5663%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 (restated) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 18px; width: 1.16764%;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.2652%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="13" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 48.7907%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported segments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.834028%;"><br/></td>
<td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 29.0242%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.16764%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.917431%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.917431%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.917431%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 18px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Statement of financial position </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 67,942,010 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 15,027,675 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 4,439,453 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 45,912,604 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 33,324,494 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (67,942,010 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (14,990,661 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 83,713,565 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 3,422,828 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,899,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 936,345 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 7,778,612 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 3,028,428 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (3,422,828 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 13,642,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 19,086 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,188,625 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 168,066 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,396,723 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 915,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (19,086 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 3,669,109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 4,265,294 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,121,612 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 483,227 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 428,492 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 110 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (4,265,294 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 2,033,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 6,064,604 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 517,181 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 28,463 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 3,988,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 3,606,532 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (6,064,604 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 8,140,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inventories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 8,317,566 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 121,064 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 564,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 249,318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 46 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (8,317,566 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 935,264 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 241,749 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 241,749 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 160,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (160,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 5,761,106 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 276,139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 146,166 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 685,659 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 1,938,096 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (5,761,106 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (764,392 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 2,281,668 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 5,225,978 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 169,905 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 398,796 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,613,480 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 1,566,428 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (5,225,978 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (410,191 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 4,338,418 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in associates </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 50,715 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 14,149,214 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (13,816,078 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 383,851 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investments in joint ventures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,305,790 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 7,988,208 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (1,305,790 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 7,988,208 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Biological assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 1,073,582 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (1,073,582 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contract asset </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,860,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 686,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 9,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (2,860,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 695,938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right-of-use assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 5,210,366 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 19,865 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 39,550 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 7,823,401 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 33,414 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (5,210,366 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 7,916,230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 18,165,518 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 15,326 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 327,535 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 13,646,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 79,397 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (18,165,518 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 14,068,506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Intangible assets and goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 6,089,034 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 8,769,986 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 1,268,095 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 7,251,432 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 18,926 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (6,089,034 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 17,308,439 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (51,528,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (11,681,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (2,473,884 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (32,359,866 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (17,553,779 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 51,528,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 1,174,583 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (62,894,698 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (24,557,518 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (7,043,909 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (802,938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (21,656,908 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (12,745,705 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 24,557,518 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (42,249,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (3,088,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (286,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (348 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (159,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 3,088,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (446,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (9,311,282 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (1,182,111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (688,139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (754,546 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (5,258 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 9,311,282 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (2,630,054 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employee benefits payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (534,376 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (74,543 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (96,192 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (139,058 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (26,673 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 534,376 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (336,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (565,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (565,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (4,094,274 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (662,779 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (290,827 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (950,582 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (2,006,371 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 4,094,274 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 204,366 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (3,706,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders payable in subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (387,044 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (387,044 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (4,734,766 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (10,320 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (41,299 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (2,912,317 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (37,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 4,734,766 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (3,001,847 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other non-current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (5,208,482 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (1,856,161 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (554,141 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> (5,946,455 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> (2,185,122 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> 5,208,482 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 970,217 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (9,571,662 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;">)</td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets (net of liabilities) allocated by segment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 16,413,012 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 3,345,923 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 1,965,569 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 13,552,738 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 15,770,715 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (16,413,012 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (13,816,078 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 20,818,867 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.42369%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.34028%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.67389%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.50709%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 16,129,497 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 3,288,315 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 1,367,157 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 2,150,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 12,270,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (16,129,497 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> (13,816,078 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 5,260,083 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 18.2652%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 283,515 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 57,608 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 598,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.42369%;">
<p style="margin: 0pt; text-align: right;"><span> 11,402,686 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.34028%;">
<p style="margin: 0pt; text-align: right;"><span> 3,500,078 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.67389%;">
<p style="margin: 0pt; text-align: right;"><span> (283,515 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 8.50709%;">
<p style="margin: 0pt; text-align: right;"><span> 15,558,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1.16764%;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 18.2652%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 16,413,012 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 3,345,923 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 1,965,569 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.42369%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 13,552,738 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.34028%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 15,770,715 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.917431%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.67389%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (16,413,012 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (13,816,078 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.834028%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 8.50709%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 20,818,867 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.917431%;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff; width: 1.16764%;"/>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
</div>
</div>
<div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><br/></p>

</div>
<div>
<div style="margin: 0 auto;">
<p style="font-size: 9pt; line-height: 150%; margin: 0pt 0pt 0pt 54pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>

<div style="margin: 0 auto;">
<div style="border-right: none; border-left: none;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">5.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Net sales to external customers by product/customer&#160;</span></span></p>
<div id="t_ft_JL9JD8APMO00000000000000000000b">
<table cellpadding="0" style="height: 728px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.47059%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.61765%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 (restated) </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.47059%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.61765%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 (restated) </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.47059%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 35px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> Reported segment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.4412%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ethanol </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 27,464,271 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 19,625,060 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 20,286,705 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sugar </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 13,946,480 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 10,241,141 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 3,925,499 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gasoline</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 55,158,035 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 36,127,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 46,140,529 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diesel </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 71,828,092 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 46,967,219 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 51,522,023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cogeneration </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 3,968,947 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 2,282,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 3,934,639 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 7,288,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 2,807,127 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 3,540,068 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Intercompany elimination<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 10.5882%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (4,607,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 10.4412%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 10.5882%; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 175,047,270 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 118,049,722 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 129,349,463 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Natural gas distribution </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Industrial </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 7,386,258 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 5,030,738 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 6,045,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Residential </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 1,610,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 1,381,597 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 1,295,107 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cogeneration </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 637,489 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 389,732 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 437,327 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Automotive </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 364,664 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 220,130 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 350,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Commercial </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 448,615 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 350,760 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 507,550 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 1,020,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 885,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 813,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 30pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 242,226 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 59,104 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 64,660 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 11,709,714 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 8,317,691 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 9,514,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Electricity trading </span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 620,495 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 775,479 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 12,330,209 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 9,093,170 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 9,514,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Moove </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finished goods </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 5,088,102 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 3,891,551 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 3,786,636 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Base oil </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 457,991 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 392,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 194,353 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 566,364 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 131,871 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 65,307 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 6,112,457 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 4,415,575 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 4,046,296 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Logistics </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> North operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 5,479,583 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 5,270,436 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 5,313,757 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> South operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 1,624,084 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 1,409,872 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 1,478,314 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Container operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 335,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 285,851 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 295,769 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 7,439,632 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 6,966,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 7,087,840 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cosan Investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Land leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Corporate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 8,292 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> 818 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> 98 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deconsolidated effects </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 58.9706%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and eliminations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> (175,104,361 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.4412%;">
<p style="margin: 0pt; text-align: right;"><span> (118,087,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 10.5882%;">
<p style="margin: 0pt; text-align: right;"><span> (129,386,510 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.47059%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.61765%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.9706%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 25,865,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.4412%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 20,437,835 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.5882%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 20,611,409 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.47059%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.61765%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
<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; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 7%; text-align: center; vertical-align: top;" valign="top"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 92%; text-align: justify;"><span>On June 1, 2021, Ra&#237;zen S.A. started to consolidate Ra&#237;zen Energia and, therefore, the balances between the entities are presented net.</span></td>
</tr>
</tbody>
</table>
</div>

<div style="border-right: none; border-left: none;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-size: 10pt; text-indent: 0px;"><br/></span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">5.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Information on geographical area</span></span></p>
<div id="t_ft_DFBDNIBIYO00000000000000000000b">
<table cellpadding="0" style="height: 150px; border-collapse: collapse; margin: 0px; font-family: &quot;times new roman&quot;; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="5" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Net sales </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-current assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom-width: 1px;"><br/></td>
<td rowspan="2" style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 27px; margin: 0px; text-indent: 0px; border-bottom: 1px solid rgb(0, 0, 0);">
<p style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020</span></span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 27px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brazil </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 22,529,634 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 18,100,012 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 18,522,108 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 12,551,261 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 11%;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 12,577,376 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; width: 1%;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Europe<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> 2,551,739 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> 1,867,284 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> 1,719,262 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> 10,515 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; 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;"><span> 11,401 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 25px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 25px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Latin America<span style="vertical-align: super; font-size: 8pt;">(ii)</span></span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 632,235 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 360,798 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 184,981 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 6,320 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 25px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 24,684 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 25px; margin: 0px; text-indent: 0px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> North America </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 81,384 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 62,760 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 157,665 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Asia and other </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 70,009 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 46,981 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 27,393 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 25,865,001 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 20,437,835 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 20,611,409 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> 12,568,096 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;border-top-width: 1pt;border-top-style: solid ;border-top-color: rgb(0, 0, 0);border-bottom-width: 2.8pt;border-bottom-style: double ;border-bottom-color: rgb(0, 0, 0) ;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span> 12,613,461 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
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<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Main countries:</span></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 92%;">England, France, Spain and Portugal; and</td>
</tr>
<tr>
<td style="text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td>Argentina, Bol&#237;via, Uruguay and Paraguay.</td>
</tr>
</tbody>
</table>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; text-indent: 0px;"> &#160;</span><br/></p>
</div>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span>5.3.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Major Customers</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span>The majority of the cargo Rumo transports and port elevation is for the agricultural commodities industry, especially corn, sugar, soy and derivatives thereof. Rumo&#8217;s major clients are export companies participating in this market. This participation corresponds approximately to the following amounts of net revenue from Rumo's <span>six</span> largest customer in each year: <span>R$</span>2,916,247 in 2021, R$2,939,945 in 2020 and R$773,286 in 2019.&#160;</span></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for operating segments.</p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964491517528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets and liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfFinancialAssetsAndLiabilitiesAbstract', window );"><strong>Financial assets and liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory', window );">Financial assets and liabilities</a></td>
<td class="text">
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<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"><span style="font-weight: bold;">6.11.</span>&#160;</span><span style="font-weight: bold;">Recognized fair value measurements</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">When the fair value of financial assets and liabilities cannot be derived from active markets, their fair value is determined using valuation techniques including the discounted cash flow model. The inputs to these models are taken from observable markets where possible, but when this is not feasible, a degree of judgment is required in determining fair values. Judgment is required in the determination of inputs such as liquidity risk, credit risk and volatility. Changes in these variables could affect the reported fair value of financial instruments.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">Specific valuation techniques used to value financial instruments include:<br/>i.&#160; &#160; &#160;the use of quoted market prices;<br/>ii.&#160; &#160; for swaps we use the present value of estimated future cash flows based on observable market curves; and <br/>iii.&#160; &#160;for other financial instruments we analyze discounted cash flow.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p class="ng-scope" style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">All resulting fair value estimates are included in level 2, when fair values have been determined based on present values and the discount rates used have been adjusted for counterparty or own credit risk.<br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span>The Company has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including Level 3 fair values, and reports directly to the Board.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the treasury assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Company&#8217;s policy, including the level in the fair value hierarchy in which the valuations should be classified.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Significant valuation issues are reported to the Board. When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
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<td style="width: 2.53703%; text-align: center; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
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<td class="ng-scope" style="width: 90.4691%; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: justify;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level<span>&#160;</span></span>1<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">: inputs represent unadjusted quoted prices for identical instruments traded in active markets.</span></td>
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<td style="text-align: center; vertical-align: top; width: 2.53703%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
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<td class="ng-scope" style="vertical-align: top; width: 90.4691%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; text-align: justify;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level<span>&#160;</span></span>2<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">: inputs include directly or indirectly observable inputs (other than Level<span>&#160;</span></span><span>1&#160;</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">input) such as quoted prices for similar financial instruments exchanged in active markets, quoted prices for identical or similar financial instruments exchanged in inactive markets and other market observable inputs. The fair value of the majority of the Company&#8217;s investments in securities, derivative contracts and bonds.</span></td>
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<td style="text-align: center; vertical-align: top; width: 4.43005%; height: 34px;"><br/></td>
<td style="text-align: center; vertical-align: top; width: 2.53703%; height: 34px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="vertical-align: top; width: 2.56378%; height: 34px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top"><br/></td>
<td class="ng-scope" style="vertical-align: top; width: 90.4691%; height: 34px; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px; text-align: justify;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Level<span>&#160;</span></span>3<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">: inputs for the asset or liability that are not based on observable market data (unobservable inputs). Management is required to use its own assumptions regarding unobservable inputs as there is little, if any, market activity in these instruments or related observable inputs that can be corroborated at the measurement date.</span></td>
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Specific valuation techniques used to value financial instruments include:</span></p>

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<td style="width: 2.53703%; vertical-align: top; height: 14px; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">i.</span></td>
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<td style="width: 90.4691%; vertical-align: top; height: 14px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> the use of quoted market prices </span></p>
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<td style="vertical-align: top; width: 2.53703%; height: 10px; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ii.</span></td>
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<p style="text-align: justify; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> the fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed from similar sources and which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Company and of the&#160;counterparty; this is calculated based on credit spreads derived from current credit default swap; and </span></p>
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<td style="vertical-align: top; width: 2.53703%; height: 10px; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iii.</span></td>
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<td style="vertical-align: top; width: 90.4691%; height: 10px; padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;" valign="top">
<p style="margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> for other financial instruments we analyze discounted cash flow. </span></p>
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<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The market values of the Senior Notes are listed on the Luxembourg Stock Exchange (Note 6<span style="border-left: none; border-right: none;">.6</span>) is based on their quoted market price are as follows:</span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Company </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<p style="margin: 0pt;"><span> Senior notes 2023 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Luxembourg S.A. </span></p>
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<p style="margin: 0pt; text-align: right;"><span> 100.26% </span></p>
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<p style="margin: 0pt; text-align: right;"><span> 101.02% </span></p>
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<p style="margin: 0pt;"><span> Senior notes 2024 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
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<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 104.17% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior notes 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Limited </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 103.22% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> Senior notes 2025 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 103.04% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 105.96% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior notes 2027 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Luxembourg S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 103.79% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 108.20% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> Senior notes 2028 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 103.42% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 108.75% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior notes 2029 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan&#160;S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 104.39% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 110.05% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> Senior notes 2032 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg S.&#224; r.l. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 94.34% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"> <span>&#8212;</span></span>&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Perpetual notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Luxembourg S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 102.17% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 102.88% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span>All of the resulting fair value estimates are included in level 2 except for a contingent consideration payable where the fair values have been determined based on present values and the discount rates used were adjusted for counterparty or own credit risk.</span></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The carrying amounts and fair value of financial assets and financial liabilities are as follows:&#160;</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_0SRAWPW90G00000000000000000000b">
<table cellpadding="0" style="height: 202px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.649%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 5.1532%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 19.7772%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Carrying amount </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td colspan="14" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 54.8747%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets and liabilities measured at fair value</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.649%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 5.1532%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.39276%;"><br/></td>
<td colspan="7" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 30.0836%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 20.6128%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.649%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 5.1532%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; margin: 0pt; text-align: center; width: 8.49582%;"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160;<span style="font-family: 'times new roman', times; font-weight: bold; border-bottom-color: #000000; border-bottom-width: 0.5pt; font-size: 8pt;">Level 1</span></span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; border-bottom: 1px solid #000000; margin-left: 0.1px; vertical-align: bottom; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 2&#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 7.52089%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 3&#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.33148%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.49582%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span> Level 2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.39276%;"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment funds </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 8,103,713 </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 2,155,446 </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td class="ng-scope" style="padding: 0px; height: 10px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><br/></p>
&#8212;</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 8,103,713 </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 2,155,446 </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 4,388,007 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 3,669,109 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td class="ng-scope" style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span>&#8212;</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 4,388,007 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 3,669,109 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 320,193 </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td class="ng-scope" style="padding: 0px; height: 17px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span>&#8212;<br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 320,193 </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 3,886,696 </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td class="ng-scope" style="padding: 0px; height: 17px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span>&#8212;</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> 3,886,696 </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivate financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 4,732,926 </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 8,140,700 </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td class="ng-scope" style="padding: 0px; border-bottom: 1px solid #000000; height: 18px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span>&#8212;</td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 4,732,926 </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 1px solid #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 8,140,700 </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 21,431,535 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 14,034,381 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td class="ng-scope" style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span style="font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;</span>&#8212;</td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 17,544,839 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 3,886,696 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 13,965,255 </span></p>
</td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 7.52089%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.6 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (45,659,037 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span>(42,249,460 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt;">)</span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p class="ng-scope" style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt;">(</span>30,157,655</p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span>(20,214,600 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 7.52089%;" valign="bottom"><span>&#8212;</span></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 9.33148%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span>(24,971,099</span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (18,855,850 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; margin: 0px; text-indent: 0px; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Consideration payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (224,787 </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#8212;</span></td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 7.52089%;" valign="bottom"><span>&#8212;</span></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span> (224,787 </span></p>
</td>
<td style="padding: 0px; height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></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; width: 13.649%;" valign="bottom">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,076,161 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (446,061 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 10px; text-align: right; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom"><span>&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#8212;</span></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,076,161 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; text-align: right; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 7.52089%;" valign="bottom"><span>&#8212;</span></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (446,061 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-size: 10pt;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; background-color: #cceeff; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 13.649%;" valign="bottom">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 5.1532%;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (46,735,198 </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (42,920,308 </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; text-align: right; vertical-align: bottom; width: 8.49582%;" valign="bottom">(<span>30,157.655</span></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom">)</td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (21,290,761 </span></p>
</td>
<td style="padding: 0px 0px 1px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; text-align: right; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 7.52089%;" valign="bottom"><span>&#8212;</span><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; text-align: right; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 9.33148%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span>(24,971,099</span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom">)</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; border-bottom: 2.8pt double #000000; vertical-align: bottom; width: 8.49582%;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (19,526,428 </span></p>
</td>
<td style="padding: 0px; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; vertical-align: bottom; width: 1.39276%;" valign="bottom"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>


</div>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.12</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Financial risk management</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This note explains the Company&#8217;s exposure to financial risks and how these risks could affect the group&#8217;s future financial performance. Current year profit and loss information has been included where relevant to add further context.&#160;</span></p>

<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 371px; width: 100%;" width="100%">
<tbody>
<tr style="height: 30px;">
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 99.7pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Risk </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 136.8pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Exposure arising from </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 105.5pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Measurement </span></p>
</td>
<td style="background-color: #0048bb; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; width: 104.55pt; border: 1pt solid #000000; height: 30px;">
<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Management </span></p>
</td>
</tr>
<tr style="height: 65px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk &#8211; foreign exchange </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-right: none; border-left: none;">(i) Future commercial transactions.</span></span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;(ii) Recognized financial assets and liabilities not denominated in Brazilian </span>reais<span style="font-family: 'times new roman', times; font-size: 10pt;">.</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (i) Cash flow forecasting (ii) Sensitivity analysis </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency. </span></p>
</td>
</tr>
<tr style="height: 65px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk &#8211; interest rate </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt 1.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents, marketable securities, loans, borrowings and debentures, leases and derivatives. </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (i) Sensitivity analysis </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 65px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest rate Swap. </span></p>
</td>
</tr>
<tr style="height: 47px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk - prices </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt 1.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (i) Future commercial transactions. </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (i) Cash flow forecasting (ii) Sensitivity analysis </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 47px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Future electric energy price (purchase and sale). </span></p>
</td>
</tr>
<tr style="height: 82px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credit risk </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents, marketable securities, restricted cash, trade receivables, derivatives, receivables from related parties and dividends, and investment property</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (i) Aging analysis</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;(ii) Credit ratings</span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diversification of bank deposits, credit limits and letters of credit. </span></p>
</td>
</tr>
<tr style="height: 82px;">
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 99.7pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Liquidity risk </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 136.8pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt 1.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures, trade payables, other financial liabilities, tax installments, leases, derivatives, payables to related parties and dividends. </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 105.5pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (i) Rolling cash flow forecasts </span></p>
</td>
<td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: top; width: 104.55pt; border: 1pt solid #000000; height: 82px;">
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Availability of committed credit lines and borrowing facilities.</span></p>
</td>
</tr>
</tbody>
</table>

</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-size: 10pt;">The Company&#8217;s Management identifies, evaluates and hedges financial risks in close co-operation with the Company&#8217;s operating units. The Board provides written principles for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.</span><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><br/></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Where all relevant criteria are met, hedge accounting is applied to remove the accounting mismatch between the hedging instrument and the hedged item. This will effectively result in recognizing interest expense at a fixed interest rate for the hedged floating rate loans and inventory at the fixed foreign currency rate for the hedged purchases.</span></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company may opt for the formal designation of new debt operations for which it has swap-type derivative financial instruments for exchange variation and interest, as measured at fair value. The option for fair value (&#8220;Fair Value Option&#8221;) is intended to eliminate or inconsistencies in the result arising from differences between the measurement credits of certain liabilities and their hedging instruments. Thus, both the swaps and the respective debts are now measured at fair value. Such option is irrevocable and must only be made in the initial accounting record of the operation.The Company&#8217;s policy is to maintain capital base to promote the confidence of investors, creditors and the market, and to ensure the future development of the business. Management monitors that the return on capital is adequate for each of its businesses.</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The usage of financial instruments in order to protect against these areas of volatility is determined through an analysis of the risk exposure that management intends to cover.</span></p>
</div>

<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt; text-align: left;"><span style="font-size: 10pt; text-align: justify; text-indent: -22.6pt; font-weight: bold;"><span style="border-left: none; border-right: none;">6.5</span>.</span><span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 10pt; line-height: normal; text-align: justify; text-indent: -22.6pt;"> </span><span style="font-size: 10pt; text-align: justify; text-indent: -22.6pt; margin-left: 23px; font-weight: bold;">Related parties</span><br/></div>
<div style="font-family: 'times new roman', times; font-size: 10pt;"><br/></div>
<div id="Normadiv62" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Commercial operations, involving related parties, are carried out at normal market prices. Financial and corporate transactions are carried out in accordance with the contracts established between the parties. Outstanding balances at year end are not guaranteed, are not subject to interest and are settled in cash. There were no guarantees given or received on any accounts receivable or payable involving related parties. At the end of each period, an analysis of the recovery of amounts and receivables is carried out and for the years ended December 31, 2021 and 2020 no provision was recognize<span>d.&#160; &#160;</span></span></p>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Balances and transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.<br/></span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>

<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div id="Normadiv63" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Summary of balances with related parties</span></span></p>
<div id="t_ft_NKYIPW2G1C00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; height: 421px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: center; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: center; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Corporate / agreement operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38,710 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73,913 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"> &#8212; </p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aguassanta Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,956 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 837 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,489 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11,171 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 361 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,171 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 71,802 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 103,092 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Financial operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,933 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 45 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span> Rio Minas Minera&#231;&#227;o S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span><span style="font-family: 'times new roman', times; font-size: 10pt;">Aguassanta Participa&#231;&#245;es S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 576,957 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 26,478 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 576,957 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 92,280 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 680,049 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Corporate / agreement operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 47,732 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 45,895 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 64,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 48,571 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 112,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 94,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Preferred shares </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 205,958 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 155,175 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 235 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 206,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 155,175 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 318,211 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 249,641 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 416,491 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 929,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Corporate / agreement operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50,289 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 146,722 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 171,084 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 154,366 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,365 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 227,738 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 302,246 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Financial operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11,959 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Ra&#237;zen Energia S.A.<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 47,912 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,834 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 71.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 59,871 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,834 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 71.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 287,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 307,080 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="text-align: justify;"><br/></p>
</div>
</div>
</div>
<div id="Normadiv64" style="font-family: 'times new roman', times; font-size: 10pt;">
<div>
<div id="t_ft_167ZPQTVV400000000000000000000b">

</div>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_41U3ZYQ35C00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="vertical-align: top; width: 3%; text-align: center;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; width: 97%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Current and non-current assets receivable from&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Energia<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. are, primarily, tax credits which will be reimbursed to the Company when realized. The preferred shares are used to&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;reimburse&#160;</span>Cosan<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, with preferential dividends, when the net operating loss is consumed in&#160;</span>Ra&#237;zen<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.&#160;<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Current liabilities represent reimburse to&#160;</span>Ra&#237;zen<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Energia<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Ra&#237;zen<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>S.A.<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;related to expenses regarding legal disputes and other liabilities, generated before the formation of joint ventures, which are responsibility of&#160;</span>Cosan<span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A.</span></span></span></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: center;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On December 11, 2020, the Company disposed of 13,021,744 shares that were held in treasury to&#160;</span>Aguassanta<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Investimentos<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. (&#8220;</span>Aguassanta<span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;) paid on January 8, 2021.</span></span></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
</div>
</div>
<div id="Normadiv65" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span></span></p>

<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Related party transactions</span></span></p>
<div id="t_ft_B7E4JNDXQ800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 263px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 12.0669%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen International Universal Corporation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.19474%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.955795%; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 469,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 483,934 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 298,980 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen&#160;S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 210,447 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 186,359 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 221,369 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 268 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,010 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 679,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 675,704 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 527,359 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Purchase of goods / inputs / services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (32,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,160 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (7,010 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,543,917 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,130,531 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,240,781 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,576,070 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,137,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.19474%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,247,791 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Shared expense </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (73,831 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (81,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (71,978 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (73,831 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (81,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.19474%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (71,978 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Financial result </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Usina Santa Luiza S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (41 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ra&#237;zen S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,798 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,729 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 12.0669%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 47 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; background-color: #cceeff; width: 11.9474%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 57.8256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 12.0669%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,937 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 6,392 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.19474%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.9474%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 5,683 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.955795%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 57.8256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff; vertical-align: middle; width: 12.0669%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (965,464 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff; vertical-align: middle; width: 11.9474%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (536,552 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 1.19474%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><br/></td>
<td style="padding: 0px; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff; vertical-align: middle; width: 11.9474%;" valign="middle">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (786,727 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: middle; width: 0.955795%;" valign="middle"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 0.955795%;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 20pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Officers&#8217; and directors&#8217; compensation</span></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has a compensation policy approved by the Board of Directors. Compensation of the Company&#8217;s key management personnel includes salaries, contributions to a post-employment defined benefit plan and share-based payment. We present below the consolidated balance as follows:</span></p>

<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100.001%; height: 74px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Short-term benefits to officers and directors </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 177,405 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 102,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 88,440 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share-based payment transactions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 68,209 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Long-term benefits to officers and directors </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">5,863</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Post-employment benefits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 750 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,045 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 728 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 252,227 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 118,736 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 105,991 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>

<p style="text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div>
<div id="t_ft_VJLQ4Q9HOG00000000000000000000b">

</div>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">6.6</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold; margin-left: 23px;">Loans, borrowings and debentures</span></span></p>
<p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Borrowings are initially recognized at fair value, net of transaction costs. Borrowings are subsequently measured at amortized cost.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Borrowings are derecognized when the obligation specified in the contract is discharged, canceled or expires. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss as other income or finance costs.<br/></span></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><br/></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least <span style="border-left: none; border-right: none;">12</span> months after the reporting exercise.</span></p>
<p style="text-align: justify; text-indent: 35.4pt; margin: 0pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial guarantee contracts issued by the Business are initially measured at their fair values and, if not designated as at fair value through profit or loss, are subsequently measured at the higher of:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div id="t_ft_OBWIZ4XPKG00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 4.4856%; text-align: right; margin-left: 0.1px; vertical-align: top;" valign="top">i.</td>
<td style="width: 95.5143%; margin-left: 0.1px; vertical-align: top;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;the amount of the obligation under the contract; and </span></p>
</td>
</tr>
<tr>
<td style="width: 4.4856%; text-align: right; margin-left: 0.1px; vertical-align: top;" valign="top"><br/></td>
<td style="width: 95.5143%; margin-left: 0.1px; vertical-align: top;" valign="top"><br/></td>
</tr>
<tr>
<td style="width: 4.4856%; text-align: right; margin-left: 0.1px; vertical-align: top;" valign="top">ii.</td>
<td style="width: 95.5143%; margin-left: 0.1px; vertical-align: top;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;the amount initially recognized less, where appropriate, cumulative amortization recognized in accordance with the revenue recognition policies. </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms and conditions of outstanding loans are as follows:</span></p>
<div style="border-left: none; border-right: none;">
<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div>

<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 359px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 17.8443%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Description </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 17.8443%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Index </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 9.94012%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Annual interest rate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 9.94012%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Maturity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Objective </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Secured </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 17.8443%; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BNDES </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.31737%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 17.8443%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> URTJLP </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; width: 9.94012%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.49% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.976%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,598,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.976%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,321,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.1976%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.958084%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.94012%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.838323%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.976%; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.69% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 461,756 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 647,435 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.46% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 796 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nov-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.08% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 646,624 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 727 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,077 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> URTJLP </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.34% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 396 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mar-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">3.25</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13.60% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 945,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 807,438 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.10</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14.53% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 154,843 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 175,374 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export credit agreement </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Euribor + <span style="border-left: none; border-right: none;">0.58</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.58% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 95,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 104,108 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sep-<span style="border-left: none; border-right: none;">2026</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">1.03</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.79% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 86,707 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Feb-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">2.25</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12.28% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 60,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> May-2026 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">0.80</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.02% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 515,928 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Resolution 4,131 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 148,932 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nov-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working Capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">1.79</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.10% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 753,770 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jun-2027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">1.30</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.57% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 746,725 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Oct-2027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.77</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15.27% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 694,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jun-2031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> European investment bank </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.54</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.80% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> May-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">0.61</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 18px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.80% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; text-align: center; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 11.976%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 57,813 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.94012%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sep-<span style="border-left: none; border-right: none;">2021</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31737%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8443%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.94012%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,911,356 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 5,147,093 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 0.958084%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.94012%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.838323%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.976%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<div>

</div>
</div>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_7G6KM06HGG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 618px; width: 99.9987%;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Unsecured </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign loans </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.31265%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> GBP&#160;+ Libor 6-month + 1.50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.19332%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.68% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.1976%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 143,039 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.1976%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jul-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.954654%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> GBP | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.40% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 37,674 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 35,556 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nov-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> GBP + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.10</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.17% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 142,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> GBP + <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">6</span>-month + <span style="border-left: none; border-right: none;">1.50</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.92% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 263,501 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 248,666 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EUR | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.42% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 857 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,095 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sep-<span style="border-left: none; border-right: none;">2022</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> GBP | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 150,649 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export credit notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">1.03</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.12% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 82,185 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Feb-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">0.80</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.72% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 505,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">3.05</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.01% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 208,464 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mar-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">3.15</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.11% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 468,516 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mar-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Resolution 4,131 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.60% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 483,625 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nov-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.60% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 206,908 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ + <span style="border-left: none; border-right: none;">3.67</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.67% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 438,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 415,232 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> May-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ + <span style="border-left: none; border-right: none;">1.59</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.59% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 388,912 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ + <span style="border-left: none; border-right: none;">1.36</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.36% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 414,378 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Feb-2024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Banking credit certificates </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 20px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">0.81</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 20px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.31% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 239,068 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Perpetual Notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,825,420 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,631,100 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nov-2040 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2023 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 685,550 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 569,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mar-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.38% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,514,289 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Feb-2024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: left; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2024 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.95% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,232,844 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sep-<span style="border-left: none; border-right: none;">2024</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due <span style="border-left: none; border-right: none;">2025<sup>(i)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.88% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,981,335 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,067,359 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2027 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,305,928 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,379,812 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due <span style="border-left: none; border-right: none;">2028<sup>(ii)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,700,621 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,640,840 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2028 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2029 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,226,142 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,932,483 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sep-<span style="border-left: none; border-right: none;">2029</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due <span style="border-left: none; border-right: none;">2032<sup>(iii)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ | Fixed </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.20% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,800,716 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2032 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Acquisition </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Prepayment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">3.50</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.57% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 27,129 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mar-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">Libor</span> <span style="border-left: none; border-right: none;">3</span>-month + <span style="border-left: none; border-right: none;">1.00</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.59% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 111,955 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 104,318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nov-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">1.27</span>% Base <span style="border-left: none; border-right: none;">360</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.27% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 166,355 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jul-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank overdrafts </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">125.5</span>% of CDI </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.53% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jan-2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: left; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.68</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15.17% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 543,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 595,847 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Feb-2026 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.50</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14.97% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,483,873 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 739,202 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Feb-2029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">3.60</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.53% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 361,862 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sep-<span style="border-left: none; border-right: none;">2020</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">2.65</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12.04% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,858,837 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,740,551 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">6.80</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17.50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 891,972 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 803,745 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2030 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">3.90</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14.31% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,018,844 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,025,777 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Oct-2029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<div style="margin: 0 auto;">
<div><br/></div>
</div>
<div>
<div>

</div>
</div>
<div id="t_ft_PDR8OZOU0W00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 390px; width: 99.9987%;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">5.73</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16.33% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 505,584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Oct-2033 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.00</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.53% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 255,501 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Oct-2029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.00</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14.42% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 952,671 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2035 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.54</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15.02% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 126,668 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jun-2036 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">7.48</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 18.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 165,478 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 299,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">7.36</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 18.12% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 108,451 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 97,956 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">5.87</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16.48% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 873,474 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 890,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dec-2023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4.33</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14.79% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 501,278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 452,457 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Oct-2024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IGPM + <span style="border-left: none; border-right: none;">6.10</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12.11% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 352,235 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 298,706 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> May-2028 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">0.50</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9.70% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,033,161 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,007,848 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Oct-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">1.95</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.28% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 717,651 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">5,12</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15.66% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 484,974 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">5,22</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15.77% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 477,578 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2036 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">1.65</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 774,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2028 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">2.00</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.33% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 930,301 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">5.75</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16.35% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 374,761 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aug-2031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">2.75</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 100,157 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 100,045 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Jun-2022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Working capital </span></p>
</td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 12px; width: 17.8998%;">
<p style="margin-left: 13px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Promissory notes </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 12px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">3.00</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12.33% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 601,058 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI + <span style="border-left: none; border-right: none;">3.40</span>% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12.73% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 520,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Apr-2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 11.9332%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 37,747,681 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; width: 12.0525%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 37,102,367 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 45,659,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 42,249,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,241,368 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,929,069 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.31265%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 17.8998%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 1.19332%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 11.9332%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 41,417,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 12.0525%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 37,320,391 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.1976%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff; width: 9.90453%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px; width: 0.954654%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 11.9332%; text-align: right;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
</div>
</div>
</div>
</div>

<br/>
<div style="margin: 0pt; text-indent: 11pt;">
<div id="t_ft_8KUSIUJ9U800000000000000000000b">
<table style="height: 72px; width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 1px 1px 5px; vertical-align: top;" valign="top">(i)</td>
<td style="height: 10px; padding: 1px 1px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 1px 1px 5px; vertical-align: top;" valign="top"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On January 18, 2022, Rumo redeemed its 5.875% senior notes due in 2025, in the amount of U.S.$500,000, equivalent to R$2,780,500 pursuant to the terms of the indenture governing the notes.</span></td>
</tr>
<tr style="height: 22px;">
<td colspan="3" style="margin-left: 0.1px; height: 22px; text-align: left; vertical-align: middle;">Sustainability-linked bonds<br/></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top; width: 8%;" valign="top">(ii)</td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top; width: 91%;" valign="top"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On July 10, 2020,&#160;</span>Rumo<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;completed an offering of 5.250% senior notes due 2028 in an aggregate principal amount of U.S.$500,000. The proceeds of this offering were used to finance certain green projects including the replacement or locomotives and rolling stock, infrastructure to double lines, new yards and extension of yards, and railway modernization.</span></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top">(iii)</td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On September 22, 2021,&#160;</span>Rumo<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;completed an offering of 4.200% sustainability-linked notes due 2032 in an aggregate principal amount of U.S.$500,000. The proceeds of this offering were used for general corporate purposes, including repayment of&#160;</span>Rumo&#8217;s<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;indebtedness.</span></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top">Rumo&#8217;s<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>Sustainability Performance Target would result in Greenhouse Gas Emissions not exceeding 11.82 gtCO2e/TKU (gases Co2 equivalent, per net ton-kilometer - which is a freight activity-based metric) by December 31, 2026. For the year ended December 31, 2020, our Greenhouse Gas Emissions were equal to 14.34 gtCO2e/TKU.</span></td>
</tr>
<tr style="height: 10px;">
<td style="text-align: right; height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 5px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 10px; padding: 0px 0px 10px; vertical-align: top;" valign="top"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">From and including July 18, 2027, the interest rate payable on the notes shall be increased by <span style="border-left: none; border-right: none;">25</span> basis points to <span style="border-left: none; border-right: none;">4.450</span>% per annum unless in respect of the year ended December 31, 2026: (i) the Sustainability Performance Target has been satisfied and (ii) the satisfaction of the Sustainability Performance Target has been confirmed by the External Verifier.</span></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; text-indent: 35.45pt;">The Company used the annual average rate of the CDI of </span>9.15<span style="font-size: 10pt; text-indent: 35.45pt;">% and Long-term Interest Rate (Taxa de </span>Juros<span style="font-size: 10pt; text-indent: 35.45pt;"> de Longo </span>Prazo<span style="font-size: 10pt; text-indent: 35.45pt;">), or &#8220;TJLP,&#8221; of </span>5.32<span style="font-size: 10pt; text-indent: 35.45pt;">%.&#160;</span><br/></p>

<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Non-current borrowings are scheduled to fall due as follows:</span></p>
<div id="t_ft_4UTQ3XAFU800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 167px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13 to 24 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,339,743 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,759,874 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25 to 36 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,968,458 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,667,857 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 37 to 48 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,029,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,480,137 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 49 to 60 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 984,015 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,298,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 61 to 72 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,902,914 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 640,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73 to 84 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,701,952 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,427,729 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 85 to 96 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,595,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,023,694 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Thereafter </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,895,043 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,023,093 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 41,417,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 37,320,391 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The carrying amounts of loans, borrowings and debentures are denominated in the following currencies:</span></p>
<div id="t_ft_3H0TOMC8EO00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 70px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brazilian reais </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; 23,304,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,022,405 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; width: 1%; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S. dollar </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; 21,806,154 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,551,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> British pound </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160; 451,824 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 569,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Euro </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 96,317 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 106,203 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; 45,659,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 42,249,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All debts denominated in U.S. dollar have currency risk protection through derivative financial instruments (Note 6<span style="border-left: none; border-right: none;">.10</span>), except for perpetual notes.</span></p>
</div>
</div>

<div id="Normadiv26" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Fair value hedge</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Currently the Company has adopted the hedge accounting of fair value for some its operations. Both the hedging instruments and the hedged items are measured and recognized at fair value through profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There is an economic relationship between the hedged item and the hedge instrument, since the terms of the interest rate and foreign exchange swap correspond to the terms of the fixed rate loan, that is, notional amount, term and payment. The Company established a 1:1 hedge ratio for hedge relationships, since the underlying risk of the interest rate and exchange rate swap is identical to the hedged risk component. To test the effectiveness of the hedge, the Company uses the discounted cash flow method and compares the changes in the fair value of the hedge instrument with the changes in the fair value of the hedged item attributable to the hedged risk. <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The sources of hedge ineffectiveness that are expected to affect the hedging relationship during its term evaluated by the Company are mainly: (i) reduction or modification of the hedged item; and (ii) a change in the credit risk of the Company or the counterparty of the contracted swaps. The amounts related to the items designated as hedge instruments were as following:</span></span></p>
<div>
<div>

</div>
</div>
<div style="margin: 0 auto;">
<div id="Normadiv2706" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="border-right: none; border-left: none;">
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_G6DNLQ253400000000000000000000b">
<table border="0" cellpadding="0" style="height: 265px; margin: 0px 0px 0px 0.1px; border-collapse: collapse; width: 100%; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="height: 10px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;" valign="bottom"/>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td colspan="4" style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 22.0115%; border-bottom: 1px solid #000000;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: center; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt; text-align: center;"><span style="color: black; margin: 0pt; text-align: center;">Book value</span></b></span></p>
</div>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 10px; width: 1.14025%; border-bottom-width: 1px;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td colspan="4" style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 21.9291%; text-align: center; border-bottom: 1px solid #000000;"><b style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt;"><span style="color: black; margin: 0pt; text-align: center;">Accumulated fair value adjustment</span></b></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 1.07172%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="height: 10px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;" valign="bottom"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2021</span></b></span></p>
</div>
</td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2020</span></b></span></p>
</div>
</td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom"><br/></td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2021</span></b></span></p>
</div>
</td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">December 31, 2020</span></b></span></p>
</div>
</td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="height: 10px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;" valign="bottom"><br/></td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: center; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><b style="margin: 0pt;"><span style="color: black; margin: 0pt;">Notional</span></b></span></p>
</div>
</td>
<td style="height: 10px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 10px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 9.97527%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 10.0577%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 1.14025%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 9.97527%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 9.97527%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px; height: 10px; width: 1.07172%;"><br/></td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: #000000; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">Exchange rate hedge</span></span></b></span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom"/>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 10.05pt; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: black; margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">Designated items</span> </span></b></span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom"/>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2024 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (4,514,289 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (959,017 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2025 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 1,740,550 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (3,067,359 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 355,409 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (779,581 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2028 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 2,791,600 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (2,700,621 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 108,756 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2032 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 2,758,400 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (2,938,939 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (14,775 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior notes 2024 (Cosan Limited) </span></p>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> (1,232,844 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> (18,357 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: #000000; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">Debt</span></span></b></span></p>
</td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>7,290,550</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(5,639,560</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(8,814,492</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>449,390</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(1,756,955</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom"/>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom"/>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times;"><b><span style="font-size: 10pt; color: #000000; margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: #000000;">Derivative financial instruments</span></span></b></span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom"><br/></td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2024 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 2,118,028 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 1,021,045 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2025 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 1,341,379 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (120,326 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 825,015 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2028 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (2,791,600 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 266,526 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 277,542 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px; background-color: #cceeff;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2032 (Rumo Luxembourg) </span></p>
</td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> (2,259,375 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 675,572 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> 675,572 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; vertical-align: bottom; width: 40.8904%;" valign="bottom">
<p style="text-align: left; text-indent: 20pt; margin: 0pt; font-size: 11pt; font-family: 'times new roman', times;"><span> Senior swaps notes 2024 (Cosan Limited) </span></p>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> 463,502 </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;"><br/></div>
</td>
<td align="right" style="height: 13px; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> &#8212; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td align="right" style="height: 13px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom-width: 1px;" valign="bottom">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span> (78,913 </span></p>
</td>
<td align="left" style="height: 13px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; width: 1.07172%;" valign="bottom">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-size: 10pt; color: #000000; margin: 0pt; font-family: 'times new roman', times;"> ) </span></p>
</td>
</tr>
<tr style="height: 14px; background-color: #cceeff;">
<td style="height: 14px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; color: black; font-weight: bold;"><span style="font-family: 'times new roman', times; font-size: 10pt; margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: #000000;"><b><span>Derivative</span></b></span><b/></span></p>
</td>
<td align="right" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(5,050,975</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td align="left" style="height: 14px; white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 14px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>942,098</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 14px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>3,922,909</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 14px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>832,788</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
<td style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 14px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-top: 1pt solid #000000; border-bottom-width: 1px; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>1,767,147</span></b><b style="margin: 0pt;"/></span></p>
</td>
<td style="height: 14px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom">
<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; padding-left: 0px; padding-right: 0px;"><br/></p>
</td>
</tr>
<tr style="height: 13px;">
<td style="height: 13px; margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 40.8904%;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; text-align: left; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; height: 13px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 10.0577%; border-bottom: 1px solid #000000;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.14025%; border-bottom-width: 1px;" valign="bottom"/>
<td style="margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; height: 13px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; border-bottom-width: 1px;"><br/></td>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 9.97527%; border-bottom: 1px solid #000000;" valign="bottom"/>
<td style="height: 13px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%;" valign="bottom"/>
</tr>
<tr style="height: 0px; background-color: #cceeff;">
<td style="height: 0px; vertical-align: bottom; width: 40.8904%; background-color: #cceeff;" valign="bottom">
<p style="text-align: left; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span>Total</span></b></span></p>
</td>
<td align="right" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>2,239,575</span></b></span></p>
</div>
</td>
<td style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;" valign="bottom"><br/></td>
<td style="margin: 0px; text-indent: 0px; height: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(4,697,462</span></b></span></p>
</div>
</td>
<td align="left" style="height: 0px; white-space: nowrap; padding: 0px 0px 3px; margin: 0px; vertical-align: bottom; text-indent: 0px; width: 0.989283%; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="margin: 0px; text-indent: 0px; height: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 10.0577%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>(4,891,583</span></b></span></p>
</div>
</td>
<td align="left" style="height: 0px; white-space: nowrap; padding: 0px 0px 3px; margin: 0px; vertical-align: bottom; text-indent: 0px; width: 1.14025%; background-color: #cceeff;" valign="bottom">
<p style="text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> ) </span></p>
</td>
<td style="white-space: nowrap; padding-right: 0px; margin: 0px; vertical-align: bottom; padding-left: 0px; text-indent: 0px; height: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>1,282,178</span></b></span></p>
</div>
</td>
<td style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;" valign="bottom"><br/></td>
<td style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 0.989283%; background-color: #cceeff;"><br/></td>
<td align="right" style="height: 0px; white-space: nowrap; margin: 0px; vertical-align: bottom; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 9.97527%; border-bottom: 2.8pt double #000000; background-color: #cceeff;" valign="bottom">
<div style="border-top: none; border-right: none; border-left: none; border-image: initial; padding: 0in 0in 1pt;">
<p style="text-align: right; text-indent: 0px; border: none; padding: 0in 0px; margin: 0px; font-size: 11pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="margin: 0pt;"><span>10,192</span></b></span></p>
</div>
</td>
<td style="height: 0px; margin: 0px; text-indent: 0px; vertical-align: bottom; white-space: nowrap; padding-left: 0px; padding-right: 0px; width: 1.07172%; background-color: #cceeff;" valign="bottom"><br/></td>
</tr>
</tbody>
</table>
</div>
<p><br/></p>
</div>
</div>
</div>

<div><br/></div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_TLNHOQ1EZK00000000000000000000b">
<table cellpadding="0" style="height: 354px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 99.8338%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Book value </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; text-align: center;"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Accumulated fair value adjustment</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center;"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2021</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td class="ng-scope" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: center;"><span style="color: #000000; font-family: 'times new roman'; font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 20</span>20</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times;"> <b><span style="font-size: 10pt; color: black;">Interest rate hedge</span></b> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 41%;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup>&#160;issue - 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; width: 10%;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span> 575 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; width: 1%;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 5<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - single series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 684,501 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (873,474 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (890,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; background-color: #cceeff;"><span>17,184</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (22,040 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 1st series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> 500,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> (484,974 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right;"><span>(484,974</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 2nd series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 500,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (477,578 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; background-color: #cceeff;"><span>(477,578</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">BNDES Project VIII <sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> 1,000,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> (921,949 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right;"><span>(921,949</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debenture (Rumo) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 5,530,408 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (5,359,574 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,281,278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span>149,491</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (239,437 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</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: 20pt;"><span> Senior notes 2023 (Cosan Luxembourg) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (569,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom: 1pt solid #000000;"><span>(188,083</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (237,050 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Debt </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 8,214,909 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (8,117,549 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,741,402 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span>(1,905,909</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (497,952 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> issue - 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right; background-color: #cceeff;"><span>862</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></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: 20pt;"><span>Debenture 5<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - single series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (684,501 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (189,928 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 211,741 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (401,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right;"><span>10,731</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 1st series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (500,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 5,776 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 5,776 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right; background-color: #cceeff;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left; background-color: #cceeff;"><br/></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: 20pt;"><span>Debenture 9<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issue - 2nd series (Comg&#225;s)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (500,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 12,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 12,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; text-align: left;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">BNDES Project VIII <sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,000,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 51,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 51,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: right; background-color: #cceeff;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; text-align: left; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Debenture (Rumo) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (5,556,236 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (75,806 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 176,693 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (196,959 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>183,595</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span> Senior swaps notes 2023 (Cosan Luxembourg) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 392,899 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 10,057 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span>(42,532</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (8,240,737 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span>(195,799 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 781,333 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span>(518,636 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; border-bottom: 1px solid #000000;"><span>152,656</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: left;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (25,828 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (8,313,348 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (1,960,069 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (2,424,545 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span>(345,296</span></td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_XPGIIJI93K00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="text-align: right; vertical-align: top; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="text-align: right; vertical-align: top; width: 1%;"><br/></td>
<td style="width: 92%; text-align: justify;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span>In the subsidiary Comg&#225;s, the exposure of the BNDES Project VIII debt is substantially protected by the hedge contracted in July 2021, with a portion of less than 3%</span></span><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;not protected and for practical purposes its segregation at amortized cost becomes irrelevant.</span></span></span></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>

</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Fair value option</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Certain derivative instruments have not been linked to documented hedge structures.&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company chose to designate the protected liabilities (hedge objects) to record at fair value through profit or loss.</span></p>
<div id="t_ft_UG0P7B5XWG00000000000000000000b">
<table cellpadding="0" style="height: 390px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td colspan="2" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="8" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Book value </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Accumulated fair value adjustment </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td colspan="2" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 25%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Exchange rate </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 14%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Objects </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Senior Notes 2027 </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$+<span style="border-left: none; border-right: none;">7.0</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,627,325 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (4,305,928 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (4,379,812 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 313,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (349,181 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export Credit Agreement </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> EUR + <span style="border-left: none; border-right: none;">0.58</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (100,198 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (95,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,337 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Rumo) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$ + <span style="border-left: none; border-right: none;">2.20</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (220,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (148,932 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 4,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> EIB 3&#170; Tranche </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$ + <span>LIBOR</span><span>6</span>M + <span>0.54</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (30,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> EIB 4&#170; Tranche </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$ + <span>LIBOR</span><span>6</span>M + <span>0.61</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (57,813 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 308 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2018) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$ + <span style="border-left: none; border-right: none;">3.67</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (268,125 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (438,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (415,232 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (18,230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (24,247 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2020) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$ + <span style="border-left: none; border-right: none;">1.59</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (388,912 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,967 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2021) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> US$ + <span style="border-left: none; border-right: none;">1.36</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (407,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (414,378 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 5,526 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (4,622,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (5,403,521 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (5,272,586 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> 303,423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (370,997 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative instruments </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td colspan="3" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Swap Notes 2027 </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$ + <span style="border-left: none; border-right: none;">126.85</span>% do CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,627,325 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,047,237 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,272,648 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 45,181 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,320,629 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation and interest rate swaps </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">107</span>% do CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 100,198 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 30,535 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (3,096 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation and interest rate swaps </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">118</span>% do CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 220,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 47,527 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 20,019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><span>EIB 3<sup><span style="vertical-align: super; font-size: 8pt;">rd</span></sup> Tranche</span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">88.5</span>% do CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 22px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> 21,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> 844 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;">
<p style="margin: 0pt; text-align: right;"><span> 24,927 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 22px;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><span>EIB 4<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> Tranche</span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">81.1</span>% do CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 39,256 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,583 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 22px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 26,219 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2018) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + <span style="border-left: none; border-right: none;">107.9</span>% do CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 268,125 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 168,358 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 154,627 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 20,794 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 117,080 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2020) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + CDI + <span style="border-left: none; border-right: none;">2.75</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (6,214 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 15,711 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (12,904 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td colspan="2" style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span> Resolution 4,131 (Comg&#225;s - 2021) </span></p>
</td>
<td colspan="5" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">R$</span> + CDI + <span style="border-left: none; border-right: none;">1.25</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 407,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> (6,628 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">)</td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative total </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 4,622,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 2,293,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 2,481,493 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 95,408 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="vertical-align: bottom; height: 17px; padding: 0px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 1,475,951 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="5" style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> (3,110,378 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> (2,791,093 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; height: 10px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> 398,831 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: bottom; height: 10px; padding: 0px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="margin: 0pt; text-align: right;"><span> 1,104,954 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<div id="t_ft_J8V0GNRJV400000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 205px;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="8" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Book value </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="8" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Accumulated fair value adjustment </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 25%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest rate </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 14%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; background-color: #cceeff; height: 17px; width: 10%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 17px; width: 1%;"/>
<td style="vertical-align: top; background-color: #cceeff; height: 17px; width: 1%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Objects </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160; Debenture (Rumo) </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span>4,68</span>% </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (500,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (543,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 82,474 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160; Debenture (Rumo) </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA + <span style="border-left: none; border-right: none;">4,50</span>% </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (600,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (676,798 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 131,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; padding: 0px; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,100,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,220,550 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 213,627 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative instruments </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; padding: 0px; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange and interest swap </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">107</span>% CDI </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 500,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 71,375 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#160; (11,682 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 20pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Foreign exchange</span> and interest swap </span></p>
</td>
<td colspan="2" style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-left: none; border-right: none;">105</span>% CDI </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 600,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 82,344 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (41,468 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="vertical-align: bottom; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; padding: 0px; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Derivative total </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,100,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 153,719 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (53,150 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; background-color: #cceeff; padding: 0px; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
<td style="vertical-align: top; background-color: #cceeff; padding: 0px; height: 17px;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="2" style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (1,066,831 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px;"><span style="font-weight: bold;">)</span></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 160,477 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: bottom; padding: 0px; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
</tr>
</tbody>
</table>
</div>

</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Market risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company uses derivatives to manage market risks. All such transactions are carried out within the guidelines set by the risk management committee. Generally, the Company seeks to apply hedge accounting to manage volatility in profit or loss.</span></p>
<ol style="padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 111.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Foreign exchange risk</span></li>
</ol>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Net exposure to the exchange rate variations on assets and liabilities denominated in U.S. dollar, British pound and Euro:</span></p>
</div>

<div style="margin: 0 auto;">
<div id="t_ft_P4K05WGZ7K00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 90px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.6369%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 72.3214%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9048%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,811,598 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.04167%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9048%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,995,284 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.6369%; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 93,326 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,619 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.6369%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,721 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (229,750 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (19,640,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (25,227,055 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (108,365 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (99,217 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contingent consideration </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (234,960 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9048%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (224,787 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.6369%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 21,105,358 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.04167%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 11.9048%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,981,375 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.6369%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.3214%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Foreign exchange exposure, net </span></p>
</td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: bottom; width: 11.9048%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 5,021,936 </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.4881%; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; width: 1.04167%; margin: 0px; text-indent: 0px;" valign="bottom"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: bottom; width: 11.9048%; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">(4,779,531</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.6369%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
</div>

</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The sensitivity of profit or loss to changes in the exchange rates arises mainly from U.S. dollar denominated financial instruments and the impact on other components of equity arises from foreign forward exchange contracts designated as cash flow hedges.</span></p>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A reasonably possible strengthening (weakening) of the Brazilian <span style="font-style: italic;">reais</span> to U.S. dollar and Euro on December 31, 2021 would have affected the measurement of financial instruments denominated in a foreign currency and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases. Stressed scenarios (positive and negative effects before tax effects) were defined based on changes of a 25% and 50% to the U.S. dollar and Euro exchange rate used in the probable scenario. The Company&#8217;s exposure to foreign currency changes for all other currencies is not material.</span></p>

<table cellpadding="0" style="height: 158px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td colspan="10" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Variation scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Instrument </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Risk factor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; width: 17%; background-color: #cceeff; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 81,621 </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,054,926 </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,028,231 </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (891,684 </span></p>
</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; width: 1%; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; width: 12%; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,864,989 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 76,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 100,347 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 124,191 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 52,658 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 28,813 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></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: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,414 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (926 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (438 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,902 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,389) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,457,838 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,676,786 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,946,953 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,863,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,133,715 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</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: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (424,712 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (7,017,875) </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,489,738) </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,925,849 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,397,712 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 17px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,321 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (29,992 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (57,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 23,351 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 17px; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 53,022 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 18px; background-color: #cceeff; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contingent consideration </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency fluctuation </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 239,993 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 299,991 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 359,989 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 179,995 </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; background-color: #cceeff; vertical-align: bottom; height: 18px;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 18px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 119,997 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 10px; vertical-align: middle;" valign="middle">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Impacts on profit or loss&#160;</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,427,507 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,916,743 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (4,088,475 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,424,719 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 10px;" valign="top"><br/></td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: top;" valign="top">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,598,451 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>

<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The probable scenario considers the estimated exchange rates, made by a specialized third part, at the due date of the transactions for the companies with functional currency Brazilian <span style="font-style: italic;">reais</span> (positive and negative, before tax effects), as follows:</span></p>
</div>

<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; height: 111px;" width="100%">
<tbody>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td colspan="16" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Exchange rate sensitivity analysis (R$/U.S.$) and (R$/&#8364;) </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Scenario </span></p>
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<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S.$ </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 18%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.5805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.7000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.1250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.5500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.2750 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.8500 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
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<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8364; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.3210 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.5550 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.1938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9.8325 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.9163 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.2775 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#163; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.5242 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.9230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9.9038 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.8845 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.9423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.9615 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
</tbody>
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</div>
<div style="margin: 0 auto;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 111.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Interest rate risk</span></li>
</ol>
<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries monitor the fluctuations in variable interest rates in connection with its borrowings and uses derivative instruments in order to minimize variable interest rate fluctuation risks.</span></p>

<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A sensitivity analysis on the interest rates on loans and borrowings in compensation for the CDI investments with pre-tax increases and decreases of 25% and 50% is presented below:</span></p>
<div id="t_ft_4RD202OEJ400000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 108px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="10" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Variation scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Exposure interest rate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 30%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,623,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,995,927 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,385,014 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,423,642 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,116,070 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 487,145 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 598,464 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 714,627 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 430,749 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 340,218 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lease and concession in installments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (121,902 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (152,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (182,853) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (91,426 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (60,951 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (371,433 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (371,433 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (371,433 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (371,433 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (371,433 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,327,786 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,365,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,073,012 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 223,066 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,124,171 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,244,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,760,945 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,184,050 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,914,734 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,491,629 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (71,996 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (88,073 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (104,151 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (55,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (39,840 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Impacts on profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 628,702 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,143,748 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,815,858 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (356,054 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 616,606 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The probable scenario considers the estimated interest rate, made by a specialized third party and Central Bank of Brazil (<span style="font-style: italic;">Banco Central do Brasil</span>), or &#8220;BACEN,&#8221; as follows:</span></p>
<div id="t_ft_RPJI7HEDZK00000000000000000000b">
<table cellpadding="0" style="height: 154px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 36%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> SELIC </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.15% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13.94% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16.73% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.36% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.58% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11.15% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13.94% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16.73% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.36% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.58% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TJLP462 (TJLP + 1% p.a.) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.60% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.95% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.30% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TJLP </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.60% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.95% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.30% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPCA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.61% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.76% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.91% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.46% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.30% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IGPM </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.19% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.48% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.78% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.89% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.59% </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Libor </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.16% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.45% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.74% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.87% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.58% </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fed Funds </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.13% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.35% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.68% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.45%</span></p>
</td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 124.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 111.45pt; padding-left: 13pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Price risk</span></li>
</ol>

</div>
<div style="margin: 0 auto;">
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 152.51pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Financial position and unrealized gains on electricity trading operations, net</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Electricity trading operations are carried out in an active market and recognized at fair value through profit or loss, based on the difference between the contracted price and the market price of open contracts at the reporting date.</span></p>
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This fair value is estimated mainly based on the price quotations used in the active over-the-counter market, insofar as such observable market data exist, and, to a lesser extent, by the use of valuation techniques that consider prices established in operations of purchase and sale and market prices estimated by specialized entities, when such information is available.</span></p>

<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Statement of financial position balances referring to outstanding energy trading operations are as follows:</span></p>
<div id="t_ft_95MK4J0XSW00000000000000000000b">
<table cellpadding="0" style="height: 47px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Net gain </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Net gain </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 29%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity trading </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 69,576 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (317,699 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (248,123 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 96,595 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (268,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (189,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;">)</td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The main risk factor that impacts the pricing of energy trading operations is the exposure to market energy prices. The scenarios for sensitivity analysis considering this factor are prepared using market data and specialized sources, considering future prices, applied to the market curves as of December 31, 2021, as follows:</span></p>

<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 15pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td colspan="10" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Variation scenario </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 15pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Probable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (25)% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 41%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Unrealized loss from&#160;electricity trading </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (248,123 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (244,212 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (240,302 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (252,034 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (255,942 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; text-align: left;">)</td>
</tr>
</tbody>
</table>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 160.45pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The projection of settlement of positions, at nominal value, follows the schedule below:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_AEVMUNVVWG00000000000000000000b">
<table cellpadding="0" style="height: 34px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2022 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2023 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2024 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Above 2025 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px; width: 44%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Positions to be settled </span></p>
</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (248,115 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; padding: 0px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,822 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; padding: 0px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,093 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff; padding: 0px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,721 </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 5.75pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 10pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Credit risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s regular operations expose it to potential defaults when customers, suppliers and counterparties are unable to comply with their financial or other commitments. The Company seeks to mitigate this risk by entering into transactions with a diverse pool of counterparties. However, the Company continues to remain subject to unexpected third-party financial failures that could disrupt its operations.</span></p>
</div>

<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The exposure to credit risk was as follows:</span></p>
<div id="t_ft_8VL3GQT1K000000000000000000000b">
<table cellpadding="0" style="height: 131px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 11px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 11px; width: 75%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16,174,130 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 11px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13,642,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 11px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,745,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,033,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,388,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,669,109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 11px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 11px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 58,990 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 11px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,732,926 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,140,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 416,491 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 929,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends receivable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 519,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 80,755 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 320,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34,562 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 29,356,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 28,531,175 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is also exposed to risks in connection with its cash management activities and temporary investments.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Liquid assets are invested primarily in government security and other investments in Banks with a minimum grade of &#8220;A.&#8221; Credit risk from balances with banks and financial institutions is managed by the Company&#8217;s treasury department in accordance with the Company&#8217;s policy.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The credit risk of lease receivables is classified into two categories of customers: (i) Level 1 and (ii) Level 2. Most investment properties of subsidiaries are leased to customers classified as Level 1, with no history of late payment or default and with a sound financial situation. To mitigate the credit risk related to lease receivables, the Company's policy limits its exposure to Level 2 customers to a minimum. For accounts receivable related to the sale of investment properties, the risk is mitigated by granting ownership of land to the customer only when a down payment for the transaction is received. In addition, title to ownership is transferred only upon receipt of outstanding payments in full.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments of surplus funds are made only with approved counterparties and within credit limits assigned to each counterparty. Counterparty credit limits are reviewed on an annual basis and may be updated throughout the year. The limits are set to minimize the concentration of risks and therefore mitigate financial loss through potential counterparty&#8217;s failure to make payments. The credit risk on cash and cash equivalents, marketable securities and derivative financial instruments are determined by rating instruments widely accepted by the market and are arranged as follows:</span></p>

<table cellpadding="0" style="height: 85px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: center; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: center; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 73%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> AAA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 23,080,390 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,878,272 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> AA </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,239,266 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,991,846 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BBB</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34,397 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 617,171 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 25,354,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 25,487,289 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;"><br/></td>
</tr>
</tbody>
</table>


</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Liquidity risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company&#8217;s reputation.</span></p>

<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The financial assets and liabilities of the Company by due dates (based on undiscounted cash flows contracted) are as follows:</span></p>
<div style="border-right: none; border-left: none;">
<table cellpadding="0" style="height: 229px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="17" style="padding: 0px; vertical-align: bottom; text-align: center; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021</span><br/></p>
</td>
<td style="vertical-align: top; padding: 0px; text-align: center; height: 10px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2020</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Up to 1 year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 1 - 2 years </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 3 - 5 years </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> More than 5 years </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px; border-top: 1pt solid #000000;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 19px; border-top: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 29%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,845,774 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,628,072 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (12,124,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (32,777,404 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (57,375,287 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (46,012,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,253,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,253,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,629,734 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (726,423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (726,423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (562,763 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax installments - REFIS </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (52,805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,453 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,395 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (143,011 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (200,664 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (203,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (413,310 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (413,692 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,133,476 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,671,334 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (15,631,812 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (14,348,296 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railway concession payable under litigation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (187,972 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (201,876 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (198,532 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (596,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,185,076 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,219,188 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (287,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (287,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (315,433 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (799,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (799,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (24,238 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,064,207 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,078 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,380,014 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,998,479 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,313,208 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,988,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders payable in subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (387,044 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (12,631,238 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (7,248,171 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (12,077,426 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (41,189,966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (73,146,801 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (61,713,570 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Capital management risk</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company's policy is to maintain a solid capital base to promote the trust of its parent companies, creditors and the market, and to ensure the future development of the business. Management monitors the return on capital, which is defined by the Company as the result of its operating activities divided by the total shareholders' equity, so that it is adequate for each of its businesses.</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify; padding-left: 0pt; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; ;color: black;">6.&#160; &#160; Financial assets and liabilities</span></p>
<p style="margin: 0pt; text-align: justify; padding-left: 0pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company initially measures a financial asset at its fair value plus, in the case of a financial asset not measured at fair value through profit or loss, transaction costs, except those measured at amortized cost maintained within a business model with the objective to obtain contractual cash flows that meet the criteria of principal and interest only.</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Debt financial instruments are subsequently measured at fair value through profit or loss, amortized cost or fair value through other comprehensive income.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span>The classification is based on two criteria: (i) the Company&#8217;s business model for managing assets; and (ii) whether the contractual cash flows of the instruments represent only payments of principal and interest on the principal amount outstanding.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes its financial assets at amortized cost for financial assets that are maintained within a business model in order to obtain contractual cash flows that meet the &#8220;Principal and Interest&#8221; criteria. This category includes trade receivables, cash and cash equivalents, receivables from related parties, other financial assets and dividends and interest on capital receivable.</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Purchases or sales of financial assets that require the delivery of assets within a period established by regulation or convention in the market (regular trading) are recognized on the trade date, that is, the date on which the Company commits to buy or sell the asset.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">No remeasurement of financial assets was carried out.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial liabilities are classified as measured at amortized cost or at fair value through profit or loss. A financial liability is classified as at fair value through profit or loss if it is classified as held-for-sale, it is a derivative or it is designated as such on initial recognition. Financial liabilities at fair value through profit or loss are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss.</span></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><br/></p>
<p style="margin: 0pt; text-align: justify; text-indent: 35.4pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. The Company also derecognizes a financial liability when its terms are modified, and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Any gain or loss on derecognition is also recognized in profit or loss.</span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The carrying amount of financial assets and financial liabilities are as follows:</span></p>
<div id="t_ft_DHJCABSM1C00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; height: 316px; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Note </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 63%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fair value through profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 8,103,713 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,155,446 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,388,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 3,669,109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.4 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 320,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivate financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 4,732,926 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 8,140,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 17,544,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 14,034,381 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Amortized cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.1 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 8,070,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 11,487,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,745,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,033,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Restricted cash </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;">6.2</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 58,990 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span>34,562</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 416,491 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 929,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.9 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 558,310 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 241,749 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividend receivable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 519,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 80,755 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 12,370,026 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 14,807,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 29,914,865 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 28,842,050 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<div>
<div>

</div>
</div>
<div>
<div style="margin: 0 auto;">
<div>
<div id="t_ft_RVNP7T4LGW00000000000000000000b">
<table cellpadding="0" style="height: 330px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 63%; background-color: #cceeff; height: 17px;"><span 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: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Liabilities</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; margin: 0pt; text-indent: 10pt; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: black;">Amortized cost&#160;</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 63%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 8%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.6 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (25,444,437 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (23,393,880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.7 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (3,267,678 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (3,001,847 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.8 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,253,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,630,054 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Consideration payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (234,960 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (224,787 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities <sup>(i)</sup></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (726,423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (594,188 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (287,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (307,080 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railroad concession payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 13 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,054,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,154,919 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Preferred shareholders payable in subsidiaries </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (387,044 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (799,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,413,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sector financial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.9 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,372,283 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (565,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax installments - REFIS </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 15 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (200,664 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (202,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (38,641,440 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (33,875,309 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fair value through profit or loss </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loans, borrowings and debentures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span> 6.6 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (20,214,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (18,855,580 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span> 6.10 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,076,161 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (446,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (21,290,761 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (19,301,641 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (59,932,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (53,176,950 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<table style="width: 100%; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="vertical-align: top; text-align: right; padding: 0px; width: 5%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)</span></td>
<td style="vertical-align: top; text-align: right; padding: 0px; width: 2%;"><br/></td>
<td style="vertical-align: top; width: 93%;" valign="top"><span>The balance substantially presented comes from the subsidiary Rumo and refers to amounts that were advanced by its suppliers with financial institutions. As of December 31, 2021 the balance was R$576,786 (R$413,470 as of December 31, 2020). These operations had Banco Ita&#250; and Banco Bradesco as counterparties, at an average rate of 10.60% p.a. (3.00% p.a. on December 31, 2020). The average payment term of these operations is around 90 days.&#160;</span></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>

</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Cash and cash equivalents</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents comprise cash balances, deposits held at call and highly liquid investments with maturities of three months or less from the acquisition date that are subject to an insignificant risk of change in value.&#160;</span></p>

<table cellpadding="0" style="height: 83px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and bank accounts </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 98,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 4,134,074 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Savings account </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,594,723 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 986,379 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Financial investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 13,481,291 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 8,522,465 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 16,174,130 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 21px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 13,642,918 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
</tbody>
</table>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial investments include the following:</span></p>
<div id="t_ft_SJ0QWVN9GW00000000000000000000b">
<table cellpadding="0" style="height: 150px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Investment fund </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repurchase agreements </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 1,680,328 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 1,672,688 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank certificate of deposits </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 6,423,385 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 475,213 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 7,545 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 8,103,713 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 2,155,446 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Bank investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repurchase agreements<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 974,494 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 1,293,833 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank certificate of deposits<sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 2,321,614 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 5,015,244 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other<sup>(iii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 2,081,470 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 57,942 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 5,377,578 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 6,367,019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 13,481,291 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 27.1pt; text-align: right; text-indent: -27.1pt;"><span> 8,522,465 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>

</div>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 3.12753%; text-align: center;">(i)</td>
<td style="width: 0.823046%;"><br/></td>
<td style="width: 96.0493%;"><span><span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Repurchase agreements refer to the purchase of securities, with a commitment to repurchase them at a rate previously established by the parties, usually with a fixed term of up to&#160;</span>90<span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;days, for which there are&#160;</span>no<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;penalties or other restrictions for their early redemption.</span></span></span></span></td>
</tr>
<tr>
<td style="width: 3.12753%; text-align: center;">(ii)</td>
<td style="width: 0.823046%;"><br/></td>
<td style="width: 96.0493%;"><span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Bank deposit certificates (</span><span 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-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Certificado&#160;de&#160;Dep&#243;sito&#160;Banc&#225;rio</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;CDB,&#8221; are securities issued by Brazilian financial institutions, with original maturities of up to&#160;</span>90<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;days, without penalties or other restrictions for their early redemption.</span></span></td>
</tr>
<tr>
<td style="width: 3.12753%; text-align: center;">(iii)</td>
<td style="width: 0.823046%;"><br/></td>
<td style="width: 96.0493%;"><span><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The line other in bank investments substantially refers to investments in time deposits at&#160;Banco&#160;</span>Bradesco<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. Grand&#160;Cayman and Banco do&#160;</span>Brasil<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. in London for the amounts of&#160;</span>Rumo<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Luxembourg&#160;S.&#224;.r.l.<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, for the raising of Sustainability-Linked Notes due </span><span><span style="border-left: none; border-right: none;">2032</span></span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, with weighted remuneration of&#160;</span></span>49<span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;bps (</span></span>0.47<span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% per annum) on December 31, 2021.</span></span></span></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-size: 10pt;"><br/></span></p>
<p class="ng-scope" style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-size: 10pt;">The onshore financial investments are remunerated at rates around </span>100<span style="font-size: 10pt;">% of the interbank deposit certificate (</span><span style="font-size: 10pt; font-style: italic;">Certificados de Dep&#243;sitos Interbanc&#225;rios</span><span style="font-size: 10pt;">), or &#8220;CDI,&#8221; in </span><span>2021</span><span style="font-size: 10pt;"> (</span>97<span style="font-size: 10pt;">% of CDI in </span><span>2020</span><span style="font-size: 10pt;">) and offshore financial investments are remunerated at rates around </span>100<span style="font-size: 10pt;">% of Fed Funds. The sensitivity analysis on interest rate risks is presented in Note </span><span>6.12</span><span style="font-size: 10pt;">.</span><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Marketable securities</span><span style="font-weight: bold;"> and restricted cash</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Marketable securities are measured and classified at fair value through profit or loss. The securities include all equity securities with a readily determinable fair value. Fair values for equity securities are deemed readily determinable if the securities are listed or if a current market value or fair value is available even without a direct listing (e.g., prices for shares in investment funds).&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span>Restricted cash are measured and classified at amortized cost, both of them with the average maturity of government bonds between two and five years, however they can be promptly redeemed and are subject to an insignificant risk of change in value.</span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_6YPWIT7OLS00000000000000000000b">

<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: auto; margin-right: auto; height: 158px;" width="100%">
<tbody>
<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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 73%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 10px;" valign="top">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Government security <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 4,371,645 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> 3,543,886 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CDB </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,051 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> 116,963 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ESG funds <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 15,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repurchase agreements </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> 8,260 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 4,388,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> 3,669,109 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Restricted cash </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Securities pledged as collateral&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 58,990 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> 34,562 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 58,990 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> 34,562 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<div id="t_ft_22SMNC7R5S00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 34px;">
<tbody>
<tr style="height: 34px;">
<td style="text-align: right; height: 34px; width: 5%; vertical-align: top; padding: 1px 1px 8px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="height: 34px; width: 2%; vertical-align: top; padding: 1px 1px 8px;" valign="top"><br/></td>
<td style="text-align: justify; height: 34px; width: 93%; vertical-align: top; padding: 1px 1px 8px;" valign="top"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Government securities have stated interest connected to Special System for Settlement and Custody (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Sistema&#160;Especial de&#160;Liquida&#231;&#227;o&#160;e de&#160;Cust&#243;dia</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;</span>Selic<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">,&#8221; with a return of approximately <span>100% of the CDI</span>.</span></span></span></td>
</tr>
<tr>
<td style="text-align: right; width: 5%; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 2%; vertical-align: top;" valign="top"><br/></td>
<td class="ng-scope" style="text-align: justify; width: 93%; vertical-align: top;" valign="top">On October 6, 2021, the Company invested in the Fifth Wall Climate Tech Fund, from the United States, as an investor and partner in a business that also gives preferential access to investments in startups developing carbon solutions. The investment is measured at fair value through profit or loss maturing in 5 years.</td>
</tr>
</tbody>
</table>
</div>
</div>

</div>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.3</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Trade receivables</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Trade receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The Company holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method.&#160; &#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">To measure the expected credit losses, trade receivables have been grouped based on credit risk characteristics and days overdue. A loss allowance for expected credit losses is recognized in selling expense.</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Expected loss rates are based on corresponding historical credit losses suffered in the period. Historical loss rates may be adjusted to reflect current and forward-looking information regarding macroeconomic factors that affect the customers&#8217; ability to settle the receivables. The Company identified the interest rate implied in the agreement as the most relevant factor, and consequently adjusts historical loss rates based on the expected changes in this factor.</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_OFCOSIHJE800000000000000000000b">

<div>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 155px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 72%; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Domestic &#8211; Brazilian reais </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span> 1,810,867 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span> 1,432,805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 21px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Export &#8211; foreign currency </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 74,450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 68,867 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Unbilled receivables<sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 975,588 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 667,793 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 2,860,905 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt 0pt 0pt 10.75pt; text-align: right;"><span> 2,169,465 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expected credit losses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (115,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (136,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,745,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,033,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 2,580,776 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 2,007,140 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-current&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 165,077 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 26,301 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,745,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,033,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_ZI8LKDR25S00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="text-align: right; vertical-align: top; width: 5%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 2%;"><br/></td>
<td style="width: 93%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Unbilled revenue refers to the part of the gas supply in the month, whose measurement and billing have not yet been carried out.</span></td>
</tr>
</tbody>
</table>
</div>

</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The aging of trade receivables is as follows:</span></p>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_1LQ7N7UGWW00000000000000000000b">
<table cellpadding="0" style="height: 150px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 72%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Not overdue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 2,484,633 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 1,814,202 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Overdue: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt 0pt 0pt 3.5pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span> From 1 to 30 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 206,244 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 166,467 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> From 31 to 60 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 21,130 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 23,169 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span> From 61 to 90 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt 0pt 0pt 2.3pt; text-align: right;"><span> 22,351 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 14,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span> More than 90 days </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 126,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 151,471 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expected credit losses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (115,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (136,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,745,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,033,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>

</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Changes in the expected credit losses are as follows:</span></p>
<div id="t_ft_QZM40R0T6800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 88%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (120,407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13.8pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision / reversal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><span> (39,187 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Write-off </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 23,570 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13.8pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><span> (136,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision / reversal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (10,762 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 13.8pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt; text-align: right;"><span> (340 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 13.8pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Write-off </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 32,074 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 14.4pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-top: 1pt; text-align: right;"><span> (115,052 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.4</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Other financial assets</span></span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments in shares are measured at fair value through profit or loss and are equity instruments whose objective is to hold for trading.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial assets at fair value through other comprehensive income (&#8220;OCI&#8221;) are non-derivative financial assets or are not classified in any of the above categories. Financial assets are at fair value through OCI initially recorded at fair value plus any directly attributable transaction costs.</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">After initial recognition, these are measured at fair value and changes other than impairment losses and foreign currency differences on debt instruments are recognized in other comprehensive income and presented within equity. When an investment is written off, the result accumulated in other comprehensive income is transferred to income.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company's investments in equity securities and certain debt securities are classified as financial assets at fair value through OCI.</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The balance of other financial assets is composed as following:&#160;</span></p>
<div id="t_ft_HNJI5AD7E800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.836%; height: 108px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tellus&#160;and Janus shares <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span> 319,727 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other financial assets <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> 69,126 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 320,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 26.6pt; text-align: right; text-indent: -26.6pt;"><span> 69,126 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9893%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160; Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span> 466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 11.9893%;">
<p style="margin: 0pt; text-align: right;"><span> 69,126 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.913%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 319,727 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.06572%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.913%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 320,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.976909%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.976909%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9893%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt 0pt 0pt 10.7pt; text-align: right; text-indent: -10.7pt;"><span> 69,126 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.06572%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div id="t_ft_KVTDFKA9GW00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; height: 123px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 69px;">
<td style="height: 69px; text-align: right; vertical-align: top; width: 5%; padding: 1px 1px 10px;" valign="top"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="height: 69px; width: 2%; padding: 1px 1px 10px;"><br/></td>
<td style="height: 69px; text-align: justify; width: 93%; padding: 1px 1px 10px;"><span style="font-size: 10pt;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary Radar </span>Propriedades<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Agr&#237;cola<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> S.A. holds investments in preferred shares issued by its related parties </span>Tellus<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Brasil<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Participa&#231;&#245;es<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> S.A. (&#8220;</span>Tellus<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8221;) and Janus </span>Brasil<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Participa&#231;&#245;es<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. (&#8220;Janus&#8221;), which also buy, sell and rent investment properties. These investments represent&#160;<span>5<span style="font-size: 10pt;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of the preferred shares issued by the&#160;</span>Tellus<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and Janus companies. The Company and the other shareholders are entitled to receive&#160;<span>90<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% of the proposed annual dividends. Investments are redeemable when the entities sell the investment properties, which are valued on a quarterly basis, according to fair market value. Securities are classified as financial instruments at fair value through other comprehensive income.</span></span></span></span></span></span></span></td>
</tr>
<tr style="height: 10px;">
<td style="height: 10px; text-align: right; vertical-align: top; width: 5%;" valign="top"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="height: 10px; width: 2%;"><br/></td>
<td style="height: 10px; text-align: justify; width: 93%;"><span style="font-size: 10pt;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">On March 31, 2020,&#160;</span>Cosan<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Lubes Investments Limited (&#8220;CLI&#8221;) received R$&#160;<span>65,478<span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;due to the satisfaction of the precedent conditions on December 31, 2019, as provided for in the investment agreement between the Company and CVC Fund VII (&#8220;CVC&#8221;). On April 15, 2021, the updated amount of R$&#160;<span>69,155<span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;was paid, according to the line &#8220;Receipt of consideration asset&#8221; in the cash flow.</span></span></span></span></span></span></td>
</tr>
</tbody>
</table>
</div>

</div>

<div id="Normadiv23" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">6.8</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Trade payables</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
</div>
<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span>The carrying amounts of trade payables are the same as their fair values, due to their short-term nature. Trade payables are generally paid within 30 days of recognition.</span></p>
<div id="t_ft_M832BXGMS000000000000000000000b">
<table cellpadding="0" style="height: 114px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Materials and service suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 1,847,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 1,675,553 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas and transportation suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,314,946 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 780,141 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity and transportation suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span>74,893</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 141,418 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fuels and lubricants suppliers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span>118</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 727 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span>16,325</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 32,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,253,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 2,630,054 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.9</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Sector financial asset and liability</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">Sector financial assets and liabilities are intended to offset the economic impacts on profit or loss of Comg&#225;s which arise from the difference between the cost of gas, the rates set by the administrative rulings issued by ARSESP, and the effective cost incurred by the Company, which will have to be adjusted through tariff review.</span></p>
</div>
<div style="margin: 0 auto;">

<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">These differences between actual cost and cost considered in the tariff adjustments generate a right to the extent that the actual cost is higher than the cost specified in the tariff, or an obligation, when the actual costs are lower than those per the tariff. The differences are considered by ARSESP in the subsequent tariff adjustment and are included in Comg&#225;s&#8217;s tariff adjustment index.</span></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">As provided in Resolution No. 1,010 published by ARSESP, Comg&#225;s will be reimbursed for any balances existing at the end of the concession period or such balances will be returned to users within the period of 12 months before the end of the concession period, depending on whether the balances in regulatory accounts will be monetized and/or settled once they are included in the tariff on a prospective basis, which is determined up on each ARSESP ruling (which typically occur every quarter). The balance consists of: (i) the previous cycle (under amortization), which represents the balance approved by ARSESP already included in the tariff, and (ii) the cycle being constituted, which includes the differences to be approved by ARSESP in the next tariff adjustment.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition, this resolution covered the balance contained in the current account of taxes, which accumulated amounts related to tax credits used by Comg&#225;s, but which essentially are part of the tariff composition and must be subsequently transferred in the tariff.</span></p>
<div style="border-left: none; border-right: none;">

<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The changes in net sector financial asset (liability) for the year ended December 31, 2021, were as follows:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_LJVRRT678G00000000000000000000b">
<table cellpadding="0" style="height: 190px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 62.5%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.80392%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sectorial assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sectorial liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 01, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of gas <sup>(i) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> 201,346 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> 201,346 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax credits <sup>(ii) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (565,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (565,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest <sup>(iii) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> 13,458 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> 13,458 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other revenue <sup>(iv)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> 26,945 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> 26,945 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> 241,749 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (565,911 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (324,162 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of gas <sup>(i) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> 228,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> 228,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span 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: 13.3333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax credits&#160;<sup>(ii)</sup>&#160;</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (542,962 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (542,962 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span 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: 13.3333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Interest<span>&#160;<sup>(iii)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%;">
<p style="margin: 0pt; text-align: right;"><span> 19,699 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (263,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%;">
<p style="margin: 0pt; text-align: right;"><span> (243,711 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 62.5%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other revenue <sup>(iv) </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.80392%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 68,709 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 9.92647%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span> 68,709 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.22549%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.34804%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 62.5%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.80392%; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> 558,310 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (1,372,283 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; width: 1.34804%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.22549%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.92647%; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span> (813,973 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; width: 1.22549%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.34804%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<div id="t_ft_2GK3SDMAPC00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr>
<td style="vertical-align: top; width: 11%; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><span>Refers to the cost of gas purchased higher than that contained in the tariffs, 100% classified in current assets, since ARSESP's resolution provides for tariff recovery on a quarterly basis for the industrial segment, which is a substantial part of the volume of gas distributed by the subsidiary Comg&#225;s.</span></td>
</tr>
<tr>
<td style="vertical-align: top; width: 11%; text-align: right;"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_W2BHTPDQ2O00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr>
<td style="width: 11%; vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 88%; text-align: justify;"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> <span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-IN; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Exclusion of the ICMS from the PIS and COFINS calculation basis.</span></span></span></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><br/></td>
<td><br/></td>
<td style="text-align: justify;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td><br/></td>
<td style="text-align: justify;"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> <span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Reflect increases in the cost of gas and its transportation cost in accordance with existing gas purchase contracts.</span>&#160;</span></span><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><br/></td>
<td><br/></td>
<td style="text-align: justify;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td><br/></td>
<td style="text-align: justify;">
<p style="margin: 0px; line-height: 107%; font-size: 11pt; font-family: Calibri, sans-serif; text-indent: 0px;"><span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-ansi-language: EN-US;">Corresponding to inflation as measured by the General Market Price Index (<span style="font-style: italic;">&#205;ndice Geral de Pre&#231;os &#8211; Mercado</span>), or &#8220;IGP-M,&#8221; for the residential and commercial segments.</span></p>
</td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><br/></td>
<td><br/></td>
<td style="text-align: justify;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>

</div>
</div>
<div style="margin: 0 auto;">

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>6.10</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span><span style="font-weight: bold;">Derivative financial instruments</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. The Company designates certain derivatives as either:</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div id="t_ft_XBSSVYY5KW00000000000000000000b">
<table style="width: 99.9987%; font-family: 'times new roman'; font-size: 10pt; height: 55px; border-collapse: collapse;">
<tbody>
<tr style="height: 18px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 18px;"><br/></td>
<td style="height: 18px; vertical-align: top; text-align: right; width: 1.46708%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; text-align: right; width: 2.06995%; height: 18px;"><br/></td>
<td style="text-align: justify; height: 18px; vertical-align: top; width: 92.2798%;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges); or </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 17px;"><br/></td>
<td style="vertical-align: top; text-align: right; height: 17px; width: 1.46708%;" valign="top"><br/></td>
<td style="vertical-align: top; text-align: right; height: 17px; width: 2.06995%;"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 17px; width: 92.2798%;" valign="top"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 10px;"><br/></td>
<td style="height: 10px; vertical-align: top; text-align: right; width: 1.46708%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top; text-align: right; height: 10px; width: 2.06995%;"><br/></td>
<td style="text-align: justify; height: 10px; vertical-align: top; width: 92.2798%;" valign="top">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> hedges of a particular risk associated with the cash flows of recognized assets and liabilities and highly probable forecast transactions (cash flow hedges). </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="vertical-align: top; text-align: right; width: 4.18312%; height: 10px;"><br/></td>
<td style="vertical-align: top; text-align: right; height: 10px; width: 1.46708%;" valign="top"><br/></td>
<td style="vertical-align: top; text-align: right; height: 10px; width: 2.06995%;"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 10px; width: 92.2798%;" valign="top"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">At inception of the hedge relationship, the Company documents the economic relationship between hedging instruments and hedged items including whether changes in the cash flows of the hedging instruments are expected to offset changes in the cash flows of hedged items. The Company documents its risk management objective and strategy for undertaking its hedge transactions. Changes in the fair value of any derivative instrument that does not qualify for hedge accounting are recognized immediately in profit or loss and are included in other gains / (losses).</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span>The fair values of derivative financial instruments designated in hedge relationships are disclosed below. The full fair value of a hedging derivative is classified as a non-current asset or liability when the remaining maturity of the hedged item is more than 12 months; it is classified as a current asset or liability when the remaining maturity of the hedged item is less than 12 months.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span>The Company makes an assessment, both at the inception of the hedge relationship as well as on an ongoing basis, of whether the hedging instruments are expected to be highly effective in offsetting the changes in the fair value or cash flows of the respective hedged items attributable to the hedged risk, and whether the actual results of each hedge are within a range of 60% to 140%.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has a portfolio of energy contracts (purchase and sale) aimed at meeting energy supply and demand requirements. There is also a portfolio of contracts that comprises forward positions, generally of short term. For this portfolio there is no purchase commitment with a sale contra<span>ct.</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span><br/></span></span></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">The Company has flexibility to manage the contracts in this portfolio in order to obtain gains due to variations in market prices, considering its risk policies and limits. Contracts in this portfolio may be settled in cash or in another financial instrument (for example: by entering into an offset contract with a counterparty; or &#8220;undoing its position&#8221; of the contract before its exercise or expiration; or shortly after the purchase, making a sale in order to generate profit from short-term fluctuations in the price or gain with resale margin.</span></p>

</div>
</div>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">These energy purchase and sale transactions are carried out in an active market and meet the definition of financial instruments due to the fact that they are settled in cash and are readily convertible into money. These contracts are accounted for as derivatives and are recognized in the statement of financial position at fair value at the date a derivative contract is entered into and are remeasured to fair value at the end of the reporting perio<span>d.</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when the Company currently has a legally enforceable right to set off the recognized amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. The legally enforceable rights must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or counterparty.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of these derivatives is estimated partly based on price quotations published in active markets, to the extent that such observable market data exist, and partly through the use of valuation techniques which consider: (i) prices established in recent purchase and sale transactions, (ii) risk margin in supply, and (iii) forecast market price in the availability period. Whenever the fair value on initial recognition for these contracts differs from the transaction price, a fair vale gain or fair value loss is recognized at the end of the reporting date.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>

<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The impact of the hedging instruments on the consolidated statement of financial position is, as follows:</span></p>
<div style="border-left: none; border-right: none;">
<div id="t_ft_XDYSMWEW8W00000000000000000000b">
<table cellpadding="0" style="height: 347px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 51.947%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 22.4492%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Notional </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000; width: 22.1776%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Fair value </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.4881%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="margin: 0pt; text-align: center;"><span> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21655%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;">
<div style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><br/></div>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Exchange rate derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Forward agreements<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> 3,313,428 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> 1,656,489 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span>21,305 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> (10,227 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Electricity derivatives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.4881%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.21655%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 0.9942%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 13.3333px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Forward agreements</span><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> 1,407,476 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> 1,354,967 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> (248,123 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> (189,423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fuel derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Forward agreements</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 13,422 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (348 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 9.942%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,407,476 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 10.0249%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 1,368,389 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 10.0249%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span>(248,123 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.21655%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 9.942%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (189,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 51.947%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest rate and exchange rate risk </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0249%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.942%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (shares)<sup><span style="vertical-align: super; font-size: 8pt;">(iii)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,074,113 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 600,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 270,462 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 79,950 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (inflation and interest rate)<sup><span style="vertical-align: super; font-size: 8pt;">(iv)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> 6,590,408 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> 2,229,136 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> 77,913 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> 408,867 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (interest rate)<sup><span style="vertical-align: super; font-size: 8pt;">(v)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,019,917 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,399,997 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 154,654 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 755,355 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 51.947%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Swap agreements (exchange and interest rate)<sup><sup><span style="vertical-align: super;">(iv)</span></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> 13,223,981 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> 10,405,896 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 10.0249%;">
<p style="margin: 0pt; text-align: right;"><span> 3,380,554 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.942%;">
<p style="margin: 0pt; text-align: right;"><span> 6,650,465 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.13379%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 51.947%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 23,908,419 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.4881%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 16,635,029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 10.0249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,883,583 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.21655%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000; width: 9.942%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 7,894,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.9942%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 1.13379%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 51.947%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.942%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.4881%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0249%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 10.0249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 3,656,765 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.21655%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.942%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> 7,694,639 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.9942%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.13379%;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 17px;"><span style="font-weight: bold;">Current assets</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; height: 17px;"><span>194,878</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; height: 17px;"><span>587,894</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">Non-current assets</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; background-color: #cceeff; height: 17px;"><span>4,538,048</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; background-color: #cceeff; height: 17px;"><span>7,552,806</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 17px;"><span style="font-weight: bold;">Current liabilities</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; height: 17px;"><span>(925,650</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; text-align: left; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; height: 17px;"><span>(321,890</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">Non-current liabilities</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; background-color: #cceeff; height: 17px;"><span>(150,511</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; margin: 0px; text-indent: 0px; text-align: left; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; text-align: right; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; background-color: #cceeff; height: 17px;"><span>(124,171</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 51.947%; height: 18px;"><span style="font-weight: bold;">Total</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.4881%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10.0249%; text-align: right; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 18px;"><span>3,656,765</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.21655%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.942%; text-align: right; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 18px;"><span>7,694,639</span></td>
<td style="padding: 0px; vertical-align: bottom; width: 0.9942%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.13379%; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div id="t_ft_ETWRX8A75C00000000000000000000b">

</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_503JPFE2CW00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr>
<td style="width: 7%; vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 92%; text-align: justify;"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company and its subsidiaries TRSP and Moove have forward foreign exchange contracts to hedge exposures and expenses in foreign currency.</span></span></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary Compass&#160;</span>G&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;e&#160;</span>Energia<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;has a portfolio of energy contracts (purchase and sale) aimed at meeting demands and offers for consumption or supply of energy. In addition, there is a portfolio of contracts that comprises forward positions, usually short-term. For this portfolio, there is no purchase commitment with a sales contract.</span></span></span></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">During 2021, the Company entered into derivative negotiations, or Total Return Swap, with commercial banks. Under the Total Return Swap, which will have financial settlement,&#160;</span>Cosan<span>&#160;will receive the return on the variation in the price of CSAN3 shares adjusted by the dividends for the period and will pay annual interest referenced to CDI + Spread. The contracted value of CSAN3 shares with total return swap was 61,983,012 shares and the total initial value is R$1,074,113. Part of these operations are guaranteed by RAIL3 shares of its subsidiary&#160;</span>Rumo<span>&#160;S.A.. On December 31, the mark-to-market income, recorded in the Company's financial income line, was R$57,704.</span></span></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI.</span></span></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right; width: 7%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 92%;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;contracted interest and exchange swap operations, in order to be assets in USD + fixed interest and liabilities as a percentage of CDI. In the interest and inflation swap operations, the Company is active in IPCA + fixed interest and passive in a percentage of the CDI.</span></span></td>
</tr>
</tbody>
</table>
</div>
</div>
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</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Derivatives are only used for economic hedging purposes and not as speculative investments.&#160;</span></p>
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</div>
</div>

<div id="Normadiv18" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div>

<div>
<div id="t_ft_ZLGT8W1TC000000000000000000000b">

</div>
</div>
<p style="margin: 10pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span>Below are the movements in loans, borrowings and debentures occurred for the year ended December 31, 202</span><span>1</span><span>:&#160;</span></span></p>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 192px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 86%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 29,052,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Proceeds </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,336,257 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,397,060 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,782,976 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest, exchange rate and fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,041,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 42,249,460 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Proceeds </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,548,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (9,925,067 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,321,868 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest, exchange rate and fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,107,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 21px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; border-top-color: #000000; border-top-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; padding-top: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 45,659,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 21px;"><br/></td>
</tr>
</tbody>
</table>

</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: Arial; font-size: 11pt;">&#160;</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Guarantees</span></span><br/></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Until September 2021, financing agreements with the European Investment Bank (&#8220;EIB&#8221;), intended for investments, were guaranteed by a bank guarantee, in accordance with each contract. On September 15, 2021, these bank guarantees were settled, due to the expiration of the loan term. On December 31, 2021, the balance of bank guarantees contracted was R$79,020 (R$133,000 on December 31, 2020).</span><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Some financing agreements with the Brazilian National Economic and Social Development Bank (</span><span 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-align: justify; text-indent: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Banco Nacional de Desenvolvimento Econ&#244;mico e Social</span><span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;BNDES,&#8221; intended for investments, are also guaranteed, according to each agreement, by bank guarantees with an average cost of<span>&#160;</span></span>1.04<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% p.a. or by real guarantees (assets) and escrow account. On December 31, 2021, the balance of bank guarantees contracted was R$</span>3,328,076<span 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: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>(R$</span>3,687,323<span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 47.2667px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span>&#160;</span>as of December 31, 2020).&#160;</span></span></p>
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Available credit line</span></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, the Company had credit lines in banks with AA rating, which were not used, in the total amount of R$ 250,000 (R$ 250,000 on December 31, 2020), R$ 898,023 (R$ 487,378 as of December 31, 2020), to Rumo S.A. and R$ 2,500,000 to Comg&#225;s.</span></p>
<div id="fs_7O8QVLDPQO00000000000000000000B">
<div id="Normadiv19" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The use of these credit lines is subject to certain contractual conditions.</span></p>
</div>
</div>
</div>
<p style="margin: 0pt 0pt 10pt 18pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Covenants</span></span></p>
<p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><br/></p>
</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the terms of the major borrowing facilities, the Company is required to comply with the following financial covenants:</span></p>
<p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 35.45pt;"><br/></p>
<div id="t_ft_KRWI0WRS3K00000000000000000000b">
<table cellpadding="0" style="height: 109px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 99.8327%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Debt </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.00418%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 56.9038%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Triggers </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.00418%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ratios </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.00418%;"/>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Debenture 1st issue - Cosan S.A.</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.00418%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 56.9038%;"/>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.26 </span></p>
</td>
<td style="vertical-align: top; height: 10px; padding: 0px; width: 1.00418%;"/>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Resolution 4,131 - Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 56.9038%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1.00418%; height: 10px;"><br/></td>
<td rowspan="3" style="padding: 0px; vertical-align: middle; height: 30px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.59</span></p>
<br/></td>
<td style="vertical-align: top; height: 10px; padding: 0px; width: 1.00418%;"/>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BNDES - Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 56.9038%; height: 10px;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7179">Net debt<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup>/EBITDA<sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup> cannot exceed <span style="border-left: none; border-right: none;">4.00</span></span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1.00418%; height: 10px;"><br/></td>
<td style="vertical-align: top; height: 10px; padding: 0px; width: 1.00418%;"/>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Debentures of 5<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> to 8<sup><span style="vertical-align: super; font-size: 8pt;">th</span></sup> issues &#8211; Comg&#225;s</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 56.9038%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1.00418%; height: 10px;"><br/></td>
<td style="vertical-align: top; height: 10px; padding: 0px; width: 1.00418%;"/>
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<td style="padding: 0px; vertical-align: middle; width: 29.9582%; height: 10px;"><span style="font-family: 'times new roman', times; font-size: 13.3333px;">Debenture of&#160;</span>4<span style="font-size: 8pt;"><sup style="font-family: 'times new roman', times;"><sup><span style="vertical-align: super;">th</span></sup></sup></span><span style="font-family: 'times new roman', times; font-size: 13.3333px;">&#160;issue &#8211; Comg&#225;s</span><br/></td>
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<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 56.9038%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7166">Short-term indebtedness/Total indebtedness<sup><span style="vertical-align: super; font-size: 8pt;">(iii)</span></sup> cannot exceed <span style="border-left: none; border-right: none;">0.6</span></span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.34 </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 11px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2027 &#8211; Cosan S.A. </span></p>
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<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7181">Net debt <span style="font-style: italic;">pro forma</span><sup><span style="vertical-align: super; font-size: 8pt;">(iv)</span></sup>/EBITDA <span style="font-style: italic;">pro forma</span><sup><span style="vertical-align: super; font-size: 8pt;">(ii | iv)</span></sup> not higher than or equal to <span style="border-left: none; border-right: none;">3.5</span></span></span></p>
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<td rowspan="2" style="padding: 0px; vertical-align: middle; height: 21px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.11 </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2029 &#8211; Cosan S.A. </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.00418%;"><br/></td>
<td style="vertical-align: top; height: 10px; padding: 0px; width: 1.00418%;"/>
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<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Senior Notes Due 2025 &#8211; Rumo </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 56.9038%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7165">Net debt<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup>/EBITDA<sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup> not higher than or equal to <span style="border-left: none; border-right: none;">3.3</span></span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.79 </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 29.9582%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> BNDES &#8211; Rumo </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 1.00418%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; width: 56.9038%;">
<div style="border-right: none; border-left: none;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="-sec-ix-hidden:Tag7167">EBITDA/Consolidated financial result<sup><span style="vertical-align: super; font-size: 8pt;">(v)</span></sup> not higher than or equal to <span style="border-left: none; border-right: none;">2.0</span></span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px; width: 10.0418%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.91 </span></p>
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<div id="Normadiv20" style="font-family: 'times new roman', times; font-size: 10pt;">
<div id="t_ft_5XEDAN65AO00000000000000000000b">

<table style="width: 100%; margin-left: 0.1px; height: 116px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 10px;">
<td style="width: 3%; height: 10px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 97%; height: 10px; vertical-align: top;" valign="top"><span style="border-right: none; border-left: none;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Net debt consists of current and non-current debt, net of cash and</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">cash equivalents and marketable securities recorded in these</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;consolidated financial statements. Net debt is a non-GAAP measure.</span></span></span></td>
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<tr style="height: 19px;">
<td style="height: 19px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="height: 19px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Corresponds to the accumulated EBITDA of the last twelve months.</span></span></td>
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<td style="height: 19px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="height: 19px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Indebtedness means the sum of current and noncurrent loans, financing and debentures, leases and current and noncurrent derivative financial instruments.</span></span></td>
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<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td style="height: 17px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Net debt and EBITDA&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">pro forma</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">, including joint ventures financial information. Net debt and EBITDA&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">pro forma</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">are</span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">&#160;a non-GAAP measure</span></span></span></td>
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<td style="height: 17px; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
<td style="height: 17px; vertical-align: top; width: 97%;" valign="top"><span style="border-right: none; border-left: none;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The consolidated financial result of the debt is represented by the cost of the consolidated net debt.</span></span></td>
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</table>
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</div>
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i/><br/></p>
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<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; text-align: justify;">For the other loans, borrowings and debentures of the Company there are no debt financial and non-financial covenants.</span></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">On December 31, 2021, the Company was in compliance with all debt financial and non-financial covenants.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The terms of loans included cross-default provisions.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Fair value and exposure to financial risk</span></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The fair value of the loans and debentures is based on the discounted cash flow using its implicit discount rate. They are classified as a level 2 fair value in the hierarchy (Note <span style="border-left: none; border-right: none;">6.11</span>) due to the use of unobservable data, including own credit risk.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The details of the Company&#8217;s exposure to risks arising from loans are shown in Note <span style="border-left: none; border-right: none;">6.12</span>.</span></p>

<p style="text-align: right; text-indent: 0px; margin: 0px; font-size: 11pt; font-family: Arial, 'sans-serif';"><i/><br/></p>
<p style="margin: 0pt 0pt 0pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">6.7</span>.&#160;</span><span style="font-weight: bold;">Leases</span></span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">At the beginning or in the modification of a contract, the Company assesses whether a contract is or contains a lease.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The lease liability is initially measured at the present value of lease payments that are not made on the start date, discounted at the interest rate implicit in the lease or, if that rate cannot be determined immediately, by the Company&#8217;s incremental loan rate. The Company generally uses its incremental loan rate as a discount rate. At December 31, 2021 and 2020, the lessee&#8217;s incremental borrowing rate applied to the lease liabilities follows a range from 10.90% to 14.20% per year.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Assets and liabilities arising from a lease are initially measured on a present value basis. The lease payments included in the measurement of the lease liability comprise the following:</span></p>
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<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div id="t_ft_MEHD85PE0W00000000000000000000b">
<table style="width: 99.9987%; margin-left: 0.1px; height: 105px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
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<td style="height: 10px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 52px;" valign="top"><br/></td>
<td style="height: 10px; margin-left: 0.1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">i.</span></td>
<td style="width: 92.8542%; height: 10px; margin-left: 0.1px;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> fixed payments, including fixed payments in essence; </span></p>
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<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; margin-left: 0.1px;"><br/></td>
<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="width: 4.18393%; height: 10px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 10px; margin-left: 0.1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ii.</span></td>
<td style="width: 92.8542%; height: 10px; margin-left: 0.1px;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> variable lease payments that depend on index or rate, initially measured using the index or rate on the start date; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; margin-left: 0.1px;"><br/></td>
<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; margin-left: 0.1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iii.</span></td>
<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> amounts expected to be paid by the lessee, in accordance with the residual value guarantees; and </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; margin-left: 0.1px;"><br/></td>
<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="width: 4.18393%; height: 17px; vertical-align: top; text-align: right; margin-left: 0.1px;" valign="top"><br/></td>
<td style="width: 2.96188%; height: 17px; vertical-align: top; margin-left: 0.1px;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iv.</span></td>
<td style="width: 92.8542%; height: 17px; margin-left: 0.1px;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt;"> the exercise price of the call option if the lessee is reasonably certain to exercise that option, and payment of fines for terminating the lease, if the lease term reflects the lessee exercising the option to terminate the lease. </span></p>
</td>
</tr>
</tbody>
</table>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt; margin: 0px; text-indent: 0px;">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">To determine the incremental borrowing rate, the Company:</span></p>
<div>
<div style="border-left: none; border-right: none;">

</div>
</div>
</div>
</div>
</div>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div id="t_ft_BRXMCG3XLS00000000000000000000b">
<table style="width: 99.9987%; margin: 0px; height: 95px; text-indent: 0px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 57px;" valign="top"><br/></td>
<td style="height: 10px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">i.</span></td>
<td style="height: 10px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; width: 92%; vertical-align: top;" valign="top">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">ii.</span></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by the Company, which does not have recent third-part financing; and </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">iii.</span></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px; vertical-align: top;" valign="top">
<p style="padding-left: 0px; padding-right: 0px; margin: 0px; text-indent: 0px;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> makes adjustments specific to the lease, e.g., term, country, currency and security. </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; text-align: right; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;" valign="top"><br/></td>
<td style="height: 17px; margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><br/></td>
<td style="height: 17px; margin: 0px; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.</span></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 39pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In determining the lease term, the Company considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For leases of warehouses, retail stores and equipment, the following factors are normally the most relevant:</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<div id="t_ft_22XMIK9HXC00000000000000000000b">
<table style="height: 51px; width: 92%; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; margin-left: auto; margin-right: auto;">
<tbody>
<tr style="height: 17px;">
<td style="height: 17px; width: 2.95748%; text-align: left;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="height: 17px; width: 96.9575%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">If there are significant penalties to terminate (or not extend), the group is typically reasonably certain to extend (or not terminate).</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 2.95748%; text-align: left;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span></td>
<td style="height: 17px; width: 96.9575%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">If any leasehold improvements are expected to have a significant remaining value, the Company is typically reasonably certain to extend (or not terminate).</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 2.95748%; text-align: left;"><span 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: -48px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8226;</span><br/></td>
<td style="height: 17px; width: 96.9575%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Otherwise, the Company considers other factors including historical lease durations and the costs and business disruption required to replace the leased asset.</span></td>
</tr>
</tbody>
</table>
</div>
<p style="text-align: justify; margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Most extension options in offices and vehicles leases have not been included in the lease liability, because the Company could replace the assets without significant cost or business disruption.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent valuation of the lease liability is at amortized cost, using the effective interest method. It is remeasured when there is a change in future lease payments resulting from a change in index or rate, if there is a change in the amounts that are expected to be paid according to the residual value guarantee, if the Company changes its valuation, an option will be exercised purchase, extension or termination or if there is an essentially fixed revised lease payment.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; text-indent: 35.45pt;">When the lease liability is remeasured in this way, an adjustment corresponding to the carrying amount of the right-of-use asset is made or is recorded in the income statement if the carrying amount of the right-of-use asset has been reduced to </span><span style="border-left: none; border-right: none;">zero</span><span style="font-size: 10pt; text-indent: 35.45pt;">.</span><br/></p>
</div>

<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The balance sheet shows the following amounts relating to lease liabilities:</span></p>
<div id="t_ft_WSUR5GVGW000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; height: 267px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 87%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,594,888 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,531,470 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 606,529 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Transfer between liabilities<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (111,737 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,424,917 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (500,922 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 306,536 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,001,847 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,281 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 142,562 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 426,313 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Transfer between liabilities<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (54,139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Repayment of principal </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (461,040 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payment of interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (165,301 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 374,155 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,267,678 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 405,820 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,861,858 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; padding-left: 30px;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span>Transfer of railroad concession payable to lease (Note 13).</span></p>

<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Lease agreements have different terms, with longest due to expire in December 2058. The amounts are adjusted annually for inflation rates, as measured by the General Market Price Index (<span>&#205;ndice Geral de Pre&#231;os &#8211; Mercado</span>, or &#8220;IGP-M,&#8221; or Extended National Consumer Price Index (<span>&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo</span>), or &#8220;IPCA,&#8221; or may incur interest based on the TJLP or CDI and some contracts have renewal or purchase options that were considered in determining the classification as lease.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;The Company does not face a significant liquidity risk with regard to the payment of its lease liabilities. Lease liabilities are monitored within the Company's treasury function.</span></p>

<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In addition to the payment and appropriation of interest and exchange variation highlighted in the previous tables, the following impacts on income were recorded for other lease agreements that were not included in the measurement of lease liabilities:</span><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div id="t_ft_V5I23Z5R9C00000000000000000000b">
<table cellpadding="0" style="height: 83px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 202</span><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">1</span></span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px; text-align: right;"><span 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: bold; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 59%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> Variable lease payments not included&#160;in the measurement of lease liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff; width: 12%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">35,482</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,045 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">10,691</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expenses relating to short-term leases </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">30,507</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34,101 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">37,143</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expenses relating to leases of low-value assets&#160;excluding short-term leases of low-value assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; background-color: #cceeff; border-bottom-width: 1px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">978</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">348</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">66,967</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 59,693 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px; text-align: right;"><span style="font-weight: bold; font-family: 'times new roman', times; font-size: 10pt;">48,182</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>


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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2021-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2021-en-r&amp;doctype=Standard&amp;dita_xref=IFRS07_g3-5A_TI<br> -URIDate 2021-03-24<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other tax receivables<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">
<div style="margin: 0 auto;">
<p style="margin: 0pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0pt; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; padding-left: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: black;"><span style="display: inline;">7</span>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other tax receivables</span></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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify; padding-left: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; color: black;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 30pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 30pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 30pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax assets are measured at cost and primarily include (i) tax effects which are recognized when the asset is sold to a third party or recovered through amortization of the asset&#8217;s remaining economic life; and (ii) income tax receivables that are expected to be recovered either as refunds from taxing authorities or as a reduction to future tax obligations.&#160;&#160;</span></p>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div style="margin: 0 auto;">

<div id="t_ft_R2LCIWXRJK00000000000000000000b">

<div>
<table cellpadding="0" style="height: 145px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;&#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">COFINS - Revenue tax<span style="vertical-align: super; font-size: 8pt;">(iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> <span style="border-right: none; border-left: none;">1,333,868</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 625,174 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS &#8211; State VAT<span style="font-size: 8pt;"><sup>(i)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 873,203 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 754,749 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS CIAP &#8211; State VAT<span style="font-size: 8pt;"><sup>(ii)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 106,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 124,006 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">PIS - Revenue tax<span style="vertical-align: super; font-size: 8pt;">(iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> <span style="border-right: none; border-left: none;">299,610</span> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 136,765 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credit installment&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 42,932 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 42,138 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 145,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 60,206 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,801,167 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,743,038 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 921,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 785,367 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,879,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 957,671 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px; font-family: 'times new roman';"><span style="font-family: 'times new roman', times; font-size: 10pt;"> </span><br/></p>
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 6%; text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%; vertical-align: top;" valign="top"><br/></td>
<td style="width: 93%; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS credit related to the purchase of materials and diesel used in rail transportation.</span></p>
</td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><br/></td>
<td style="vertical-align: top;" valign="top"><br/></td>
<td style="vertical-align: top;" valign="top"><br/></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top;" valign="top"><br/></td>
<td style="vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS credit arising from acquisitions of property, plant and equipment.</span></p>
</td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px; font-family: 'times new roman';"><span style="font-family: 'times new roman', times; font-size: 10pt;"><br/></span></p>
<div style="border-left: none; border-right: none; font-size: 10pt; font-family: 'times new roman';">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 10px;">
<tbody>
<tr style="height: 10px;">
<td style="vertical-align: top; text-align: right; height: 10px; width: 6%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="height: 10px; width: 1%;"><br/></td>
<td style="text-align: justify; height: 10px; vertical-align: top; font-family: 'times new roman', times; font-size: 10pt; width: 93%;" valign="top">
<span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">At the subsidiary </span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, on March 15, 2017, the Federal Supreme Court (</span>Supremo<span> tribunal Federal or &#8220;STF&#8221;) concluded the judgment of Extraordinary Appeal No. 574,706 and, under the general repercussion system, established the thesis that the (</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> </span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> ICMS tax should not be included in the calculation basis of the Social Integration Program tax (</span>Programa<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> de </span>Integra&#231;&#227;o<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> ;Social or &#8220;PIS&#8221;) and the Contribution to Social Security Financing tax (</span>Contribui&#231;&#227;o<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> para o </span>Financiamento<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> da </span>Seguridade<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"> Social or &#8220;COFINS&#8221;), since such amount does not constitute the Company's revenue. That is, taxpayers have the right to exclude the amount related to ICMS highlighted in the invoice from the PIS and COFINS calculation basis.</span></span></span></span>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span><span>In 2018, the subsidiary Comg&#225;s recognized the credits for the periods after March 2017 based on the decision given at that date by the Supreme Court, maintaining as contingent asset values arising from the action, not yet judged definitively, which went back to July 2008.</span></span></span></span>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span><span>At the subsidiary Comg&#225;s, on May 13, 2021, the STF concludes the judgment on the modulation of the effects of the decision that excluded ICMS from the PIS and COFINS calculation basis (RE 574,706), as well as confirmed that the ICMS to be considered in the matter is the highlighted, not collected. According to the modulation, the effects of the exclusion are valid from March 15, 2017 &#8211; the date on which the ministers decided on the merits in the Plenary of the Court. In the case of Comg&#225;s, since its original claim dates from July 2013, in accordance with the legal form of the modulation of the effects, the right to recover the undue amount until July 2008. In this way, all relevant circumstances and, up to then, pending on the subject were overcome and, therefore, from the point of view of IAS 37 , the amounts related to the claim were no longer classified as contingent assets, since their existence was confirmed, and their realization is practically certain. Therefore, in June 2021, the Company recorded, an amount of R$957,663 (R$573,462 principal and R$382,201 monetary restatement), updated on December 31, 2021, total R$956,338 (R$563,175 principal and R$393,213 monetary restatement), related to PIS and COFINS credits in its non-current assets, which includes monetary restatement at the SELIC rate. In August 2021, the final and unappealable decision of the individual action filed by the subsidiary Comg&#225;s on the subject in 2013 was certified. Eventually, be considered as a component of tariff adjustment within the scope of the economic and financial balance of the concession contract, and such interpretation gained greater clarity after the modulation of the effects by the STF in the judgment of May 13, 2021. Therefore, of the total amount of credits recognized up to December 31, 2021, the subsidiary Comg&#225;s also recorded a provision in the amount of R$638,975 (R$375,565 principal and R$263,410 monetary restatement), equivalent to the uncertain portion, in its Sectoral Liabilities item, in non-current liabilities (Note 6<span style="border-left: none; border-right: none;">.9</span>). According to ARSESP Resolution No. 1,254 of December 8, 2021, as of December 10, 2021, tariffs already exclude ICMS from PIS and COFINS calculation basis.</span></span></span></span></span></span>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487795768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInventoriesExplanatory', window );">Inventories</a></td>
<td class="text">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">8</span>.&#160; &#160; Inventories</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Inventories are stated at the lower of cost and net realizable value (it is the estimated selling price in the normal course of business, less estimated completion costs and estimated costs necessary to make the sale). The cost of finished and under construction products comprises direct materials, direct labor and an adequate proportion of variable and fixed overheads, the latter being allocated based on normal operational capacity. Costs are assigned to individual inventory items based on weighted average costs.</span></p>

<p style="margin: 0pt 0pt 10pt 16pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The provision for obsolete inventories is made for the risks associated with the realization and sale of inventories due to obsolescence and measured at the net realizable value or the cost, whichever is less.</span></p>
<div id="t_ft_4FUFG6MXWG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.8338%; height: 129px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finished goods </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 814,320 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 560,028 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Spare parts and accessories </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 180,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 219,831 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;"><br/></td>
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<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Raw material </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 126,889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 118,319 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Warehouse and other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 27,809 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30,279 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: top; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fuels and lubricants </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,807 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,149,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 935,264 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 0pt 16pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span>The balances are presented net of the provision for obsolete inventories in the amount of R$ 26,841 on December 31, 2021 (R$ 17,449 on December 31, 2020).</span> <br/></span></p>
<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2021-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2021-en-r&amp;doctype=Standard&amp;dita_xref=IAS02_g36-39__IAS02_g36-39_TI<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487436840">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in associates<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">9.&#160; Investments in associates</span></p>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">9.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;</span><span style="font-weight: bold;">Investments in subsidiaries and associates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
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<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Subsidiaries</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsidiaries are all entities over which the Company has control. Subsidiaries are fully consolidated from the date of acquisition of control and continue to be consolidated until the date that control ceases to exist. They are deconsolidated from the date that control ceases. The financial statements of subsidiaries are prepared for the same reporting period as that of the parent company, using consistent accounting policies. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Company&#8217;s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Company are eliminated in full on consolidation. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company&#8217;s interest in the investee. Unrealized losses are similarly eliminated, but only to the extent that there is no evidence of impairment.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Associates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Associates are those entities in which the Company has significant influence, but not control or joint control, over the financial and operating policies.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investments in associates are accounted for under the equity method and are recognized initially at cost. The cost of the investment includes transaction costs.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the equity method of accounting, the share attributable to the Company of the profit or loss for the period of such investments is accounted for in the statement of profit or loss, in &#8220;Equity in investees.&#8221; Unrealized gains and losses arising on transactions between the Company and the investees are eliminated based on the percentage of interest held in such investees. The other comprehensive income of subsidiaries, associates and jointly controlled entities is recorded directly in the Company&#8217;s shareholders&#8217; equity, in &#8220;Other comprehensive income.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company&#8217;s interest in the investee. Unrealized losses are similarly eliminated, but only to the extent that there is no evidence of impairment.</span></p>

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<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan&#8217;s subsidiaries are listed below:</span></p>
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<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Directly owned subsidiaries </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Log&#237;stica S.A.<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 73.48% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan S.A.<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 66.74% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Limited Partners Brasil Consultoria Ltda<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
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<p style="margin: 0pt; text-align: right;"><span> 97.50% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 60.00% </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Sinlog Tecnologia em Log&#237;stica S.A.<span style="vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 72.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 64.52% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia (i) </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 88.00% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 99.01% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubes Investments Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 70.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 70.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Cayman II Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
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<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Global Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Investimentos e Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span>  &#8212;% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
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<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cosan Luxembourg S.A.<span style="vertical-align: super; font-size: 8pt;">(ii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Overseas Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Pasadena Empreendimentos e Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Atl&#226;ntico Participa&#231;&#245;es Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payly Solu&#231;&#245;es de Pagamentos S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 75.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 75.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo S.A.<span style="vertical-align: super; font-size: 8pt;">(ii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 30.35% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 30.35% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Violeta Fundo de Investimento Multimercado </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest of Compass G&#225;s e Energia in its subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Companhia de G&#225;s de S&#227;o Paulo - Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 99.15% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Comercializa&#231;&#227;o S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Energia Ltda </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Terminal de Regaseifica&#231;&#227;o de S&#227;o Paulo - TRSP </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span> Rota 4 Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Edge II - Empresa de Gera&#231;&#227;o de Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest of Cosan Lubes Investments </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Limited in its subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove Lubricants Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Cinco S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Airport Energy Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Airport Energy Services Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Wessesx Petroleum Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Stanbridge Group Limited </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubricants Espa&#241;a S.L.U. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Techniques ET Technologies Appliquees SAS - TTA<span style="vertical-align: super; font-size: 8pt;"> (iv)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 75.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubrificantes S.R.L. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 98.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 98.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> LubrigrupoII&#8211; Com&#233;rcio e </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Distribui&#231;&#227;o de Lubrificantes S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma Oil &amp; Chemicals Marketing SRL </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma Otomotiv Yag Ve Kimyasallari </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Pazarlama Limited Sirketi </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma Oil &amp; Chemicals Marketing B.V. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Commercial Lubricants Moove Corp </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubrificantes e Especialidades S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan US, Inc. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Ilha Terminal Distribui&#231;&#227;o de </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff;"><br/></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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Produtos Derivados de Petr&#243;leo Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Zip Lube S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Paraguay S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div>
<div style="border-left: none; border-right: none;">
<p style="margin: 0px; text-indent: 0px;"><br/></p>
</div>
</div>
</div>
<div>
<div>

</div>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_0RA48R2OK000000000000000000000b">
<table cellpadding="0" style="height: 599px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Interest of Rumo S.A. in its subsidiaries</span><span style="font-weight: bold; vertical-align: super; font-size: 8pt;"> (iii)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Sul S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Norte S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 99.74% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.40</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Central S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Eleva&#231;&#245;es Portu&#225;rias S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Logispot Armaz&#233;ns Gerais S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 51.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>14.52</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Luxembourg <span style="color: black;">S.&#224; r.l. </span></span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Intermodal S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Boswells S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Argentina S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Paranagu&#225; S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 99.90% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Armaz&#233;ns Gerais Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Portofer Ltda. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Mesopot&#226;mica S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 70.56% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>20.09</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ALL Central S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 73.55% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 20.94 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Servicios de Inversi&#243;n Log&#237;stica Integrales S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>28.47</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brado Log&#237;stica e Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 77.65% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>17.71</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Brado Log&#237;stica S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 77.65% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span>17.71</span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><span style="font-size: 10pt;">%</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest of Violeta Fundo de Investimento </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Multimercado in its subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Verde Pinho Fundo de Investimento em Participa&#231;&#245;es </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 100.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Nova Agr&#237;cola Ponte Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Nova Amaralina S.A Propriedades Agr&#237;colas </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Nova Santa B&#225;rbara Agr&#237;cola S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Terras da Ponta Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Castanheira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Manac&#225; Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 19px; width: 1.17647%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Paineira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.17647%;"><br/></td>
</tr>
</tbody>
</table>
</div>

<div>
<div style="margin: 0 auto;">
<div>
<p><br/></p>
</div>
</div>
</div>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;</span><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">As describe in Note 2, the subsidiary Compass G&#225;s e Energia, </span></span><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">, entered into Investment Agreements that resulted in the dilution of the Company's interest. As of December 31, 2021, contributions were made to Compass for a total amount of R$</span></span><span>2,250,015</span><span style="border-right: none; border-left: none;">.</span></span></span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify;"><span style="border-right: none; border-left: none;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The agreement signed with Atmos has a clause that grants Atmos the option to sell its shares in Compass and the Company is committed to pay any difference between Atmos selling price and the base price determined in the agreement. On December 31, 2021, the option hadno value since Compass' valuation exceeds the base price determined in the contract.</span></span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(ii)&#160;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span><span style="border-right: none; border-left: none;">Management has concluded that there are no material uncertainties that cast doubt on the continuity of the subsidiary. Despite presenting on December 31, 2021, the amount with an unsecured liability of R$ </span><span>356,442</span><span style="border-right: none; border-left: none;">, as shown below, no events or conditions were identified that, individually or collectively, could raise significant doubts as to the ability to maintain their continuity operational. The subsidiaries have the financial support of the Company.</span></span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iii)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; </span>Changes in equity interest resulting from the Corporate Reorganization.</span></p>
<p style="margin: 0pt 0pt 10pt 49.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(iv)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; </span><span style="border-right: none; border-left: none;">In August 2021, Moove Lubricants Limited acquired </span><span>25</span>% of the remaining interest. A cash consideration of R$<span>32,030</span> was paid to the non-controlling shareholder.</span></p>
</div>

</div>

<div>
<div style="margin: 0 auto;">
<div>
<div style="margin: 0 auto;">
<div id="t_ft_U7K94M3LEO00000000000000000000b">
<table style="margin-left: 0.1px; float: right; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 100%;"><br/></td>
</tr>
</tbody>
</table>
</div>

<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Set out below are the associates as of December 31, 2021, which are material to the Company:</span></p>
<div id="t_ft_3HJQ0LUNXS00000000000000000000b">
<table cellpadding="0" style="height: 138px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-right: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares issued by the associate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares held by Cosan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan ownership interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Economic benefit (%) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 45%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 120,920,515 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 61,359,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 50.74% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 5.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 229,689,888 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 116,620,166 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 50.77% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 5.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">Rhall Terminais Ltda</td>
<td style="padding: 0px 0px 0px 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> 28,580 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> 8,574 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> 30.00%</span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> 30.00% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> 500,000 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> 99,246 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> 19.85% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> 19.85% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">&#160;TGG - Terminal de Gran&#233;is do Guaruj&#225; S.A.</span> <br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> 79,747,000 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span> 7,914,609 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> 9.92% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff; text-align: right;"><span> 9.92%</span> <br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; color: black;">&#160;Terminal XXXIX S.A.</span> <br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> 200,000 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span> 99,246 </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> 49.62% </span></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; text-align: right;"><span> 49.62%</span> <br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TUP Porto S&#227;o Luis S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 42,635,878 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 20,891,583 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 49.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 49.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>

</div>
<div>
<div style="margin: 0 auto;">
<div id="t_ft_4GA4Y0YODC00000000000000000000b">
<table cellpadding="0" style="height: 184px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> <b><span style="color: black;">Business Combination</span></b> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 21%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 105,665 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 39,938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (2,805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; text-align: right; width: 8%;"> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 142,798 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 130,901 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 49,235 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,738 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,959</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 183,357 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 62,371 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; font-family: 'times new roman', times;"><span> (1,688 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,060 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (879 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">(19,565</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;">(<span>41,299</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span>  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 33,204 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 12,751 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,553 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (1,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">(45,659</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span>5</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">Rhall Terminais Ltda</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>3,765</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">1,145</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>(3</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">4,907</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; color: black;">&#160;Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A.</span> <br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span>1,673</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">3,810</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">(758</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span>4,725</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">&#160;TGG - Terminal de Gran&#233;is do Guaruj&#225; S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>18,679</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;">3,850</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>&#8212;</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span>(4,966</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 17px;"><span>17,563</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; margin: 0pt; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Terminal XXXIX S.A. </span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span>26,597</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;">4,052</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px;"><span>30,649</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TUP Porto S&#227;o Luis S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#160; 801 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 393,579</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 394,380</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 996 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 16,331 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span>5,243 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (2,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span>  &#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">(59,906</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span>41,878 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,688 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 383,851 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 130,225 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 7,856 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (15,099 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 398,538 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; text-align: right;">(125,130</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (174 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 780,067 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_RLRN7884LC00000000000000000000b">
<table cellpadding="0" style="height: 118px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 31%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 102,342 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 6,883 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (3,560 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 105,665 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 126,087 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 7,591 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (3,909 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,132 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 130,901 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 59,860 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 3,512 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 232 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,233 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 62,371 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 31,975 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,747 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 45 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (563 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 33,204 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 57,443 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 9,068 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (37 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (8,187 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 10 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (6,587 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 51,710 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 377,707 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 28,801 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 240 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (17,452 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,142 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (6,587 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; border-top: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 383,851 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
</div>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Financial information of associates:</span></p>
<div id="t_ft_VI1ZG6UGU800000000000000000000b">
<table cellpadding="0" style="height: 159px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="13" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td colspan="11" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Profit in the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Profit in the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 21px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tellus Brasil Participa&#231;&#245;es Ltda </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 3,296,499 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (502,734 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 2,793,765 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 782,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 2,137,559 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> (136,375 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 2,001,184 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span> 91,431 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Janus Brasil Participa&#231;&#245;es S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 4,261,432 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (666,361 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 3,595,071 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 1,048,514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,632,321 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> (160,167 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 2,472,154 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 97,652 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; margin: 0pt; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;Rhall Terminais Ltda </span></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">31,068</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span>14,708</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">16,360</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">4,073</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Termag - Terminal Mar&#237;timo de Guaruj&#225; S.A. </span></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">276,284</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span>252,483</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">23,801</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">11,726</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;TGG - Terminal de Gran&#233;is do Guaruj&#225; S.A. </span></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">253,310</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span>76,257</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">177,053</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">37,150</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 0px; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;Terminal XXXIX S.A. </span></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">335,511</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(</span>273,747</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">61,764</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">10,075</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TUP Porto S&#227;o Luis S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 455,437 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (67,523 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 387,914 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (7,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="text-align: justify; margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
<div>
<div id="t_ft_RDQ89SQSUO00000000000000000000b">

</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span>9.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="font-weight: bold;">Non-controlling interests in subsidiaries</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions &#8211; that is, as transactions with the owners in their capacity as owners.</span></p>

<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Set out below is summarized financial information for each subsidiary that has non-controlling interests that are material to the group. The amounts disclosed for each subsidiary are before inter-company elimination.</span></p>
<div id="t_ft_4CVN25TSOG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 334px; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares issued by the subsidiary </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shares held by non-controlling shareholders </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Non-controlling interest </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 36px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 59%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 714,190,095 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 85,702,404 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; width: 12%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 12.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 132,520,587 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,139,210 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 0.86% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Lubes </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 34,963,764 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 10,489,129 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 30.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payly Solu&#231;&#245;es de Pagamentos S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 78,527,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 19,631,324 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 25.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,854,158,791 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,291,629,301 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 69.65% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Limited Partners Brasil Consultoria Ltda </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 160,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 4,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 2.50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Sinlog Tecnologia em Log&#237;stica S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 86,370 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 23,967 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 27.75% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">TTA &#8211; SAS Techniques et Technologie Appliqu&#233;es<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; 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;"><span> 10,521 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; 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;"><span> - </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; 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;"><span> - </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 81,440,221 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 40,720,111 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,266,986 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 633,493 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Agr&#237;cola Ponte Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 160,693,378 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 80,346,689 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Terras da Ponte Alta S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 16,066,329 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 8,033,165 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Santa B&#225;rbara Agr&#237;cola S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 32,336,994 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 16,168,497 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Amaralina S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 30,603,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 15,301,580 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Paineira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 132,667,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 66,333,531 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Manac&#225; Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 128,977,921 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 64,488,961 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Castanheira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 83,850,838 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 41,925,419 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 50.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the information relating to each of the Company&#8217;s subsidiaries that has material non-controlling interests, before any intra-group elimination.</span></p>
</div>
</div>
<div>
<div style="margin: 0 auto;">

<div id="t_ft_FKMWGOLAPC00000000000000000000b">
<table cellpadding="0" style="height: 229px; border-collapse: collapse; margin-left: 3.6px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 56px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 56px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sales or purchase of interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase (decrease) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px; border-bottom: 1px solid #000000; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; border-bottom-color: #000000; border-bottom-width: 0.5pt;"> <b><span>Predecessor adjustments</span></b> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 56px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 56px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 20%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 3,492,829 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 69,890 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 115,049 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (1,023 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right; width: 7%;">(3,448,693</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Log&#237;stica </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 658,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 4,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span>  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 358 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">(663,414</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 24,729 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 17,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 625 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (14,184 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 228 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 28,466 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 32,880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 74,390 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,505,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 7,698 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (97,187 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span>2,250,015</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 761,432 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CLI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 582,284 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 87,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 13,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 683,144 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 10,709,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 107,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 318,323 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 5,358 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> (27,989 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span>15,748</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 10px; text-align: right;">2,570</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 10,494,071 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Logispot Armaz&#233;ns Gerais S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 35,513 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,225 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (4,032 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 33,706 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">Radar</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">22,502</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">900</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">(19,854</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span>&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">54</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;">2,119,102</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 23,374 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 2,622 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span>11,918</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,013 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,662 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 2,291 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 363 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">351</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 9,164 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 15,558,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 384,320 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,835,552 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 88,086 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (164,908 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,252,306 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (2,131,407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; text-align: right;">(4,109,186</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 14,129,085 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_TSXQP6KEV400000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 3.6px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 217px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest in earnings of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Sales or purchase of interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Capital increase (decrease) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 53px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 29%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 3,604,875 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 336,885 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (407,177 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 28,573 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (68,120 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> (2,207 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 3,492,829 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan Log&#237;stica </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 630,185 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 12,966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 14,006 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,006 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (5 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 658,158 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 24,569 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 9,200 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 484 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (9,535 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 11 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 24,729 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 7,848 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 30,431 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 552 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (5,986 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 35 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 32,880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> CLI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 470,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 44,816 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 66,970 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 582,284 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 6,058,973 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 212,463 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 4,424,537 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 15,786 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (2,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 10,709,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Logispot Armaz&#233;ns Gerais S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 34,218 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,879 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 35,513 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 15,298 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 2,755 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 6,160 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (9,566 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 6,666 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 2,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 23,374 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 10,838,616 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 628,812 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 4,061,797 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 119,531 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (96,538 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 6,666 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (100 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 15,558,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
</div>
<div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Summarized statement of financial position:</span></p>
</div>
<div>

</div>
<div style="margin: 0 auto;">
<div id="t_ft_5IV1LP1T7K00000000000000000000b">
<table cellpadding="0" style="height: 199px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="6" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="6" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> CLI </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="5" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="6" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investimentos </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: center; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 11%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,929,639 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 402,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 4,148,735 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 4,225,788 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,327,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,047,938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,161,027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,996,914 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 147,662 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (28,374 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (25,404 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (4,538,385 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (3,610,144 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (755,995 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (616,427 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (760,522 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (841,519 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (50,038 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,901,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 376,603 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (389,650 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 615,644 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 571,477 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 431,511 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 400,505 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,155,395 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 97,624 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 4,453,679 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 2,944,593 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 8,122,763 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 6,391,096 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,946,181 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,893,901 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 21,568,088 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 19,624,672 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 4,337,142 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (10,296 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (6,627,895 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (6,416,687 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (229,802 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (360,077 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (7,173,172 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (5,796,462 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (196,562 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net non-current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 4,443,383 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 2,944,593 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,494,868 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (25,591 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,716,379 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,533,824 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 14,394,916 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 13,828,210 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 4,140,580 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 6,344,648 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 3,321,196 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 1,105,218 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 590,035 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 2,287,856 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 1,965,335 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 14,795,421 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 14,983,605 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> 4,238,204 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 178.3pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Summarized statement of profit or loss and other comprehensive income:</span></p>
<div id="t_ft_TNBRFZ39Y800000000000000000000b">
<table cellpadding="0" style="height: 188px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="8" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="10" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="10" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> CLI </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 29px;"><br/></td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 29px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 19px;"/>
</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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: top; padding: 0px; height: 10px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 19%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 11,709,713 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 8,317,691 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 9,514,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 2,608,680 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,911,541 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7%;">
<p style="margin: 0pt; text-align: right;"><span> 1,746,727 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff; width: 1%;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit before taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,710,947 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 920,426 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (2,614 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 2,274,269 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,719,877 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 1,993,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 310,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 150,930 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 74,982 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 14,164 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 10,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (155,148 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (569,264 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (626,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (15,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,484 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (15,175 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; background-color: #cceeff;">)</td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit (loss) for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,725,111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 931,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (1,725 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 2,119,121 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,150,613 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,367,179 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 294,758 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 149,446 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 59,807 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 19px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff;"/>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,725,111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 931,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (1,725 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 2,119,121 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,150,613 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,367,179 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 294,758 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 149,446 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 59,807 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; height: 20px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 20px;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><br/></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comprehensive income attributable&#160;to non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 207,012 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 9,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 18,217 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 9,762 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 10,967 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 88,427 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 44,834 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span> 17,942 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 10px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends paid </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 982,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 600,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,649,653 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 1,135,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,010,101 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="vertical-align: top; padding: 0px; height: 18px; background-color: #cceeff;"/>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div>
<div id="t_ft_YOAYQYS8W000000000000000000000b">

</div>
</div>
<div>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_THUN9Q6ZBK00000000000000000000b">
<table cellpadding="0" style="height: 219px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="10" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 49.1571%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="10" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 88.1021%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 40%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 7.95812%;">
<p style="border-bottom-color: #000000; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; border-top: 1px solid #000000; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; width: 1.04712%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 772,714 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> 950,269 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> 596,415 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit before taxes </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 198,239 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> 349,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> 779,228 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 49,218 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; width: 1.04712%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (47,701 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (52,137 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (991 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (4,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Profit (loss) for the year </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 150,538 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> 297,163 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> 778,237 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 45,003 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-top: 1px solid #000000; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 19px; padding: 0px; width: 1.04712%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 2,716 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"/>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total comprehensive income </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 150,538 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 297,163 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 7.95812%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 780,953 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 7.99215%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 45,003 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 27.9712%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; width: 47.9503%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 20px; padding: 0px; width: 1.04712%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 47.9503%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 40%;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Comprehensive income attributable</span></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.99215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 27.9712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.95812%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.99215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 27.9712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 47.9503%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 17px; padding: 0px; width: 1.04712%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 40%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> to non-controlling interests </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 104,850 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> 212,561 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> 558,616 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> 22,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; background-color: #cceeff; width: 1.04712%;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 40%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends paid </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.95812%;">
<p style="margin: 0pt; text-align: right;"><span> 4,233 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 7.99215%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 27.9712%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 47.9503%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.04712%;"><br/></td>
<td style="vertical-align: top; height: 18px; padding: 0px; width: 1.04712%;"/>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Summarized statements of cash flows:</span></p>
<div id="t_ft_7T040BEAUO00000000000000000000b">
<table cellpadding="0" style="height: 177px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;"><br/></td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="8" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> CLI </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 19%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from operating activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (44,974 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (18,046 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,539,222 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,111,551 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 2,512,303 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 95,461 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 71,654 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 7%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 82,946 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash from (used in) investing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (26,764 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 776,872 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (1,025,104 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (1,768,298 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 202,037 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 77,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (38,910 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (10,140 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from financing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,265,679 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (525,030 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (2,202,275 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 198,890 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (2,233,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (13,766 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 14,874 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 291,898 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net increase (decrease) in&#160;cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 1,193,941 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 233,796 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> (688,157 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 542,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 480,792 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 159,437 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 47,618 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span> 364,704 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents at beginning of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 232,819 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 5 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 5 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,610,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,083,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 602,618 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 492,619 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 319,733 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">Effect of exchange rate fluctuations on cash held</td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;">(13,898</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;">(982</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;"> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; height: 34px; text-align: right;">(30,741</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;">(15,005</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td class="ng-scope" style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;"> &#8212; </td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td class="ng-scope" colspan="2" style="padding: 0px; vertical-align: bottom; text-align: right; height: 34px;">109,642</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: right;">
<p style="margin: 0pt; text-align: right;"><span>125,268 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; text-align: right;">
<p style="margin: 0pt; text-align: right;"><span>(44,971 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px; margin: 0px; text-indent: 0px; text-align: left;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash and cash equivalents at end of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,412,862 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 232,819 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 5 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 891,650 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,610,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,083,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 761,698 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 492,619 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 319,733 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
<div>
<div style="margin: 0 auto;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_U5FT79D98G00000000000000000000b">
<table cellpadding="0" style="height: 157px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 33.995%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td colspan="8" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 81.8703%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investiments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 27.9156%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 27.9156%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from operating activities&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (15,679 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 463,170 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 197,313 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 21,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 10.0496%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%; background-color: #cceeff;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 57.9249%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.24069%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.11663%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash from (used in) investing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> (1,469,750 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> (6,632,353 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> (929,861 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> 49,227 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; width: 57.9249%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net cash (used in) from financing activities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 714,115 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 7,037,144 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,432,659 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (15,650 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 18px; background-color: #cceeff; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net increase (decrease) in&#160;cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> (771,314 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> 867,961 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> 700,111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.92556%;">
<p style="margin: 0pt; text-align: right;"><span> 55,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 10.0496%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; width: 57.9249%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents at beginning of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,568,667 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 700,706 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 595 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 27.9156%;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Effect of exchange rate fluctuations on cash held</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 9.92556%;">(5,551</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10.0496%;">&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 10.0496%;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; height: 17px; width: 9.92556%;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; width: 10.0496%;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; width: 57.9249%;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.11663%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 27.9156%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash and cash equivalents at end of year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 791,802 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 1,568,667 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 700,706 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 9.92556%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 55,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 10.0496%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.992556%;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 20px; background-color: #cceeff; width: 57.9249%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.24069%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.11663%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
<div>
<div id="t_ft_GFRN8LXJM800000000000000000000b">

</div>
</div>

</div>
</div>

<div id="Normadiv36" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">9.3</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="font-weight: bold;">Acquisition of subsidiaries</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Business combinations are accounted for using the acquisition method when the control is transferred to the Company. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired and liabilities assumed. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognized in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity.</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">For each business combination, the Company chooses to measure any non-controlling interests in the acquisition:</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">i.&#160; &#160; at fair value; or<br/>ii.&#160; &#160;in its proportionate share of the acquirer's identifiable net assets, which are generally at fair value</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/>The consideration transferred does not include amounts related to the settlement of pre-existing relationships. Such amounts are generally recognized in profit or loss for the year.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">Contingent consideration depends on whether an acquired business achieves goals within a fixed period. Estimates of future performance are required to calculate obligations at the time of acquisition and on each subsequent reporting date. In addition, estimates are necessary to assess the assets and liabilities acquired in business combinations. Intangible assets, such as brands, are commonly an essential part of an acquired business, as they allow us to obtain more value than would otherwise be possible.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><span style="font-weight: bold;">Measurement of fair values</span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;">In measuring fair values, valuation techniques were used considering market prices for similar items, discounted cash flow, among others.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/>Since it is a preliminary measurement of fair value, if new information obtained within one year, counting from the acquisition date, about the facts and circumstances that existed on the acquisition date, indicate adjustments in the values mentioned above, or any additional provision that existed on the acquisition date, the acquisition accounting will be revisited. Management's expectation is that only measurements of intangibles could have any impact in relation to this preliminary assessment.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt;"><br/></p>
<p style="margin: 0cm 0cm 10pt 39.7pt; text-indent: 0cm; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-size: 10.0pt; font-family: 'Times New Roman',serif;">For convenience, the Company may designate the acquisition date at the end (or beginning) of a month, when the acquisition is concluded during the month</span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify; text-indent: -25.2pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">9.3.1.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;<span style="font-weight: bold;">Acquisition of</span>&#160;</span><span style="font-weight: bold;">Radar Group</span></span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On November 3, 2021, Cosan acquired a 47% equity interest in agricultural property management companies of the &#8220;Radar Group&#8221; (entities shown below), increasing an interest of&#160;3% to 50%, as shown below:</span></p>
<div id="t_ft_IN2RIXVWWG00000000000000000000b">
<table cellpadding="0" style="height: 202px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 12px;">
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 32px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Acquired name </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest acquired </span></p>
</td>
<td rowspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 32px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Final interest</span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Direct </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Indirect </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 55%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 15%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 15%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 15%; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Radar II Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 47.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> - </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Agr&#237;cola Ponte Alta S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Amaralina S.A Propriedades Agr&#237;colas </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Nova Santa B&#225;rbara Agr&#237;cola S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Terras da Ponta Alta S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Castanheira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Manac&#225; Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00% </span></p>
</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Paineira Propriedades Agr&#237;colas S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 38.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.06% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; border: 1pt solid #000000;">
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50.00%</span></p>
</td>
</tr>
</tbody>
</table>
</div>

</div>
<div style="margin: 0 auto;">

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the Shareholders' Agreement, Cosan has the majority of votes in matters of the Executive Board, as well as the power to decide on the relevant activities of the companies of the Radar Group and, therefore, acquired control. The equity interest immediately prior to the acquisition in the Radar Group net assets carrying value was substantially&#160;at fair value on the acquisition date.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The acquired companies are engaged in the land management business, with the capacity to invest in assets with high productive potential in Brazil. This acquisition is in line with the Company's capital allocation strategy, reinforcing the Company's commitment to the development of Brazilian agribusiness and the creation of value to its stakeholders.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The acquisition price paid in cash totaled R$1,572,352, of which R$1,479,404 refers to the principal and R$92,948 to the adjustment of the installments by the IPCA. The consideration will be paid in 4 installments, with the first installment being paid on the of November 3, 2021, in the amount of R$601,856 and the other annual installments of R$295,881, adjusted by the IPCA, with final maturity in September 2024.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company, through independent consultants, assessed the fair value of all assets acquired and liabilities assumed as of the acquisition date.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On the acquisition date, the fair value of net assets acquired amounted to R$4,231,107. The non-controlling interest is shown below considering Mansilla's proportional interest in the acquiree's&#160;net assets fair value.</span></p>

<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 1pt;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; border-bottom: 1px solid #000000; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Interest</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders' equity attributable to non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: middle;"><br/></td>
</tr>
<tr style="height: 1pt; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 72%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Mansilla Participa&#231;&#245;es Ltda. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,115,554 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
</tr>
</tbody>
</table>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div>
<div id="t_ft_LHEXXSOCY800000000000000000000b">

</div>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0cm 0cm 10pt 53.45pt; text-indent: -18pt; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="mso-bidi-font-weight: normal;"><span style="mso-fareast-font-family: Arial; mso-bidi-font-family: Arial;"><span style="mso-list: Ignore;">a)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span></span></span></b><b><span>Identifiable assets acquired and liabilities assumed</span></b></span><span/><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of the assets and liabilities acquired is shown below:</span></p>
</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="border-left: none; border-right: none;">
<div id="t_ft_BH3N1BV5K000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 382px;" width="100%">
<tbody>
<tr style="height: 31px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 31px; width: 87%;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-bottom: 1pt solid #000000; height: 31px; width: 12%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Radar Group </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 31px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 10px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160; &#160; &#160; &#160; &#160;9,123 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 10px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 38,675 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Accounts receivable from customers </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 194,715 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Receivables from related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 16,780 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Taxes to recover </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,083 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other assets </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,099 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred income tax and social contribution </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 44 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Judicial deposits </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 279 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 318,445 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160; 3,875,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fixed assets </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 33 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Right of use </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,240 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payable </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (992 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Taxes payable </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (11,443 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Related parts </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lease </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3,281 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Advance from customers </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (41 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other obligations </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160; (16,738 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 17px; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred income tax and social contribution </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160; (192,883 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision for contingencies </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (279 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; width: 1.35135%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total net identifiable assets at fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,231,107 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35135%;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>

</div>
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Since the acquisition date, the Radar Group contributed to the Company's revenues with R$31,502 and income before taxes of R$49,218. If the business combination had been completed at the beginning of the year, the Company's revenues would have totaled R$26,179,637, and the profit for the year would have been R$8,424,096.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; font-size: 10pt;"><b><span><span>b)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;<span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span>Gain on bargain purchase</span></b></span></span></span></span></b></span><span style="color: #000000; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-family: 'times new roman', times; font-size: 10pt;">&#160; &#160; &#160;<span>&#160;</span></span></span></p>

<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of the net assets acquired exceeded the consideration transferred, generating a gain on bargain purchase as follow:</span></p>
<div id="t_ft_6FEJIB9RKW00000000000000000000b">
<table cellpadding="0" style="height: 78px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 87%;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Consideration t</span>ransferred&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160;&#160; 1,572,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></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: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interest</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">2,115,554</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value of Radar's Group pre-existing interest</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; text-align: right; background-color: #cceeff;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">126,933</span></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; background-color: #cceeff;"><br/></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: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Total net identifiable assets at fair value </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; (4,231,107 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gain on bargain purchase </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160; &#160; &#160; &#160; &#160; &#160;(416,268 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify; text-indent: -25.2pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">9.3.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Acquisition of Compass Group</span></span></p>
<p style="margin: 0pt 0pt 0pt 61.2pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On January 30, 2020, the Company completed the acquisition of 100% interest in the Compass Group as follows:</span></p>

<div id="t_ft_YBQ4V6EYO000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; height: 88px; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-top: 1px solid #000000; border-left: 1pt solid #000000; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Name of the acquiree </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-top: 1px solid #000000; border-right: 1pt solid #000000; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Description of the operation </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Comercializadora de Energia Ltda. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas and electricity trading </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Gera&#231;&#227;o Ltda. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas and electricity trading </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Energia Ltda. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> No operation </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-left: 1pt solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Black River Participa&#231;&#245;es Ltda. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-right: 1pt solid #000000; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> No operation</span></p>
</td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company, through its independent consultants, assessed whether the fair value of all assets and liabilities acquired in the opening statement of financial position is different from the stated carrying amount. The appraised assets and liabilities include property, plant and equipment items, customer portfolios, trademarks and, possibly, also long-term borrowings.</span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of the assets and liabilities acquired is as follows:</span></p>
<div id="t_ft_AT4YDOELKG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 264px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass Comercializadora </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass Gera&#231;&#227;o </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 52%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash and cash equivalents </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,539 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 177 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 37 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,753 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,384 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 149,163 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 161,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other tax receivable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 134 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 89 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 31 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 254 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivative financial instruments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other current assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 28 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 52 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Property, plant and equipment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 69 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 69 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Trade payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,585 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (83,669 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (97,254 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other taxes payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (162 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (162 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (97 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (97 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other financial liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (48,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (48,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (508 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (508 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Payables to related parties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (17,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (17,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Deferred tax liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (468 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (468 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total identifiable assets, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 48 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 68 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,493 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Goodwill at the acquisition date consisted of:&#160;</span></p>
<div id="t_ft_URZ9E8LK9S00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px; height: 66px;" width="100%">
<tbody>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 10px; width: 87%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Consideration transferred<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 99,385 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Total net assets acquired and </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> liabilities assumed at fair value(-) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,493 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 94,892 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">On July 17, 2020, the Compass made an additional payment for the acquisition of Compass Trading in the amount of R$</span></span><span style="border-right: none; border-left: none;">4,385</span><span style="border-right: none; border-left: none;"><span style="border-right: none; border-left: none;">, as provided for in the agreement.</span></span></span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The goodwill of R$94,892 comprises the value of future economic benefits arising from the acquisition.</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: right; font-size: 11pt; font-family: Arial, 'sans-serif';"><i/><br/></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Had the acquisition of the Compass Group been completed on January 1, 2020, the Company's revenues would have been R$9,244,777 and net profit would have been R$934,817.</span></p>
</div>
</div>
<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<td style="white-space:nowrap;">ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory</td>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964491199288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in joint ventures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for using equity method [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesExplanatory', window );">Investments in joint ventures</a></td>
<td class="text">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">10.&#160; Investment in joint venture</span></p>
<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span style="font-weight: bold;">Accounting policy</span><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">The Company&#8217;s investment in joint venture is stated in the statement of financial position at the Company&#8217;s share of net assets under the equity method of accounting, less any impairment losses. If applicable, adjustments are made to bring into line any dissimilar accounting policies that may exist. The Company&#8217;s share of the results and reserves of joint venture is included in the statement of profit or loss, other comprehensive income and changes in equity, respectively. Unrealized gains and losses resulting from transactions between the Company and its joint venture is eliminated to the extent of the Company investment in the joint venture, except where unrealized losses provide evidence of an impairment of the asset transferred. Goodwill arising from the acquisition of joint venture is included as part of the Company&#8217;s investment in joint venture and, when necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment in accordance with IAS 36 Impairment of Assets as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with it carrying amount.</p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;">The Company&#8217;s investment in joint venture is treated as non-current assets and are stated at cost less any impairment losses.<br/></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span><br/></span></p>
<p style="margin: 0pt 0pt 0pt 39pt; text-indent: 0pt; text-align: justify;"><span> <span style="font-size: 10.0pt; line-height: 107%; font-family: 'Times New Roman',serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-ansi-language: EN-IN; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Changes to investment in joint venture were as follows:</span> <br/></span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>

<div id="t_ft_UGOHJDATCW00000000000000000000b">
<table cellpadding="0" style="height: 300px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Before reorganization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 20px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: top; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen Combust&#237;veis </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen Energia </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reorganization&#160;(note 2) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom; border-bottom: 1pt solid #000000;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> Ra&#237;zen S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 45%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Shares issued by the joint venture </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,661,418,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,243,283,198 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,447,807,814 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,352,509,484 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 0.5%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Shares held by Cosan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 830,709,236 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,621,641,599 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 105,246,282 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,557,597,117 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan ownership interest </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> -6% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 44.02% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,212,601 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,336,359 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,548,960 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of joint ventures&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 332,240 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 250,761 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 583,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive (losses) income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 376,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (446,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (69,948 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on capital </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (73,388 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (73,388 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dividends </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,847,506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,140,702 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,988,208 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Interest in earnings of joint ventures <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 448,124 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (72,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,215,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,590,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive (losses) income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 215,787 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (491,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (73,416 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (349,177 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Interest on capital <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (100,318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (122,480 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (222,798 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Corporate reorganization (Note 2) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,204,832 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,204,832 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Dividends <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (716,230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (371,713 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,070,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,694,869 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,241,794 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 10,936,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="border-right: none; border-left: none;">As disclosed in Note&#160;</span><span style="border-left: none; border-right: none;">2</span><span style="border-right: none; border-left: none;">, the conclusion of Ra&#237;zen's IPO and the acquisition of Biosev resulted in </span><span style="border-left: none; border-right: none;"><span style="border-right: none; border-left: none;">two</span></span><span style="border-right: none; border-left: none;"> capitalizations in Ra&#237;zen's equity of R$</span><span style="border-right: none; border-left: none;">6,599,987</span><span style="border-right: none; border-left: none;"> and R$</span><span style="border-right: none; border-left: none;">2,347,281</span><span style="border-right: none; border-left: none;">, respectively. Such capitalizations resulted in a dilution of Cosan S.A.'s interest in Ra&#237;zen without the loss of shared control, keeping the investment classified as a joint venture. The following are the gains and losses recognized for the period:</span></span></p>
</div>

<div style="margin: 0 auto;">
<div id="t_ft_0MQL93A3SG00000000000000000000b">

<div>
<table cellpadding="0" style="height: 119px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; width: 86%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Reduction on previously held interest </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (896,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Increase in investment due to cash contribution by non-controlling shareholders in the IPO</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,929,872 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exercise of subscription bonus - H&#233;dera </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,043,347 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income * </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (82,243 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Gain on dilution </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,994,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit for the year under the equity method</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,596,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Interest in earnings of joint venture</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,590,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 53.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">* Reclassification as part of the partial disposal.</span></p>

</div>
<p style="font-size: 10pt; line-height: 150%; margin: 0pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(ii)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160; </span><span style="border-right: none; border-left: none;">Proposed amount in the period, of which R$</span><span style="border-right: none; border-left: none;">819,729</span><span style="border-right: none; border-left: none;"> were paid.</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The statement of financial position and statement of profit or loss of the joint ventures are disclosed in Note 5 &#8211; Segment information.&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">According to the terms of the Joint Venture - Ra&#237;zen, Cosan is responsible for legal proceedings that existed before the formation of Ra&#237;zen, net of judicial deposits on April 1, 2011, as well as tax installments under the terms of the tax amnesty and the Refinancing Program, or REFIS, recorded in &#8220;Other taxes payable.&#8221; In addition, Cosan granted Ra&#237;zen access to a credit line (stand-by) in the amount of U.S.$350,000 thousand, unused on December 31, 2021.&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><br/></span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2021, the Company was in compliance with the covenants of the contracts that govern the respective joint venture.&#160;<br/></span></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of joint ventures. [Refer: Joint ventures [member]]</p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487795768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfPropertyPlantAndEquipmentIntangibleAssetsGoodwillRightOfUseAssetsAndContractAssetsTextBlock', window );">Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets</a></td>
<td class="text">
<div id="Normadiv40" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0px; text-indent: 0px; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">11.&#160; &#160; Property, plant and equipment, intangible assets, goodwill, right-of-use assets and contract assets</span><br/></span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Impairment</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The recoverable amount is determined based on calculations of the value in use, using the discounted cash flow determined by Management based on budgets that take into account the assumptions related to each business, using information available in the market and previous performance. Discounted cash flows were drawn up over a ten-year period and carried forward in perpetuity without considering a real growth rate. Management uses periods greater than five years in the preparation of discounted cash flows considering that reflects the estimated time of use of the asset and business groups.</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company performs annually a review of impairment indicators for intangible assets with defined useful lives, property, plant and equipment and right-of-use assets. Also, an impairment test is undertaken for goodwill and intangible assets with indefinite useful lives. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Assumptions used in discounted cash flow projections &#8211; estimates of future business performance, cash generation, long term growth (ten years for all subsidiaries, except for Logistics and Comg&#225;s that consider the remaining period of their concession contracts) and discount rates are used in our assessment of impairment of assets at the statement of financial position date. No reasonably plausible change to a key assumption would cause harm. The main assumptions used to determine the recoverable value of the different cash-generating units to which goodwill is allocated are explained below.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="display: inline;">11.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;</span><span style="font-weight: bold;">Property, plant and equipment</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Recognition and measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent expenditure is capitalized only when it is probable that the future economic benefits associated with the expenditure will flow to the Company. Ongoing repairs and maintenance are expensed as incurred.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Items of property, plant and equipment are depreciated from the date they are available for use or, in respect of constructed assets, from the date that the asset is completed and ready for use.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation is calculated on the carrying value of property, plant and equipment less their estimated residual values using the straight-line basis over their estimated useful lives, recognized in profit or loss, unless it is capitalized as part of the cost of another asset. Land is not depreciated.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation methods, such as useful lives and residual values, are reviewed at the end of each year, or when there is a significant change without an expected consumption pattern, such as a relevant incident and technical obsolescence. Any adjustments are recognized as changes in accounting estimates, if appropriate.</span></p>

<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets as follows:</span></p>
<div id="t_ft_JS8W8897RK00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 136px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; width: 85%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Buildings and improvements </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; width: 15%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4% to 5% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Machinery, equipment and facilities </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8% to 11% </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;">Other</p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10% to 20% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railcars </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.9% to 6% </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Locomotives </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.3% to 8% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Permanent easement </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3% to 4% </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Furniture and fixtures </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10% to 15% </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Computer equipment </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20%</span></p>
</td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Reconciliation of carrying amount:</span></p>
</div>

<div style="margin: 0 auto;">
<div id="t_ft_5LRKE9IY0W00000000000000000000b">

<div>
<table cellpadding="0" style="height: 506px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 21.798%; text-align: center;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.23645%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Land, buildings and improvements </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Machinery, equipment and facilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">Railcars and locomotives<sup>(i)</sup></span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Permanent easement </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Construction in progress </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.25123%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,186,365 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,163,862 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,000,272 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,724,322 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,509,025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 434,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,018,401 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 125 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,528 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,900 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,193 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,303,937 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,113 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,326,796 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (576 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,113 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (94,689 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (24,293 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (122,177 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 370,302 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 261,705 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 796,982 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 645,611 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,008,901 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 79,088 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 144,787 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 21,028 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 31,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 619 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,593 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 70,492 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,577,244 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,457,234 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,720,465 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,371,126 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,804,174 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 508,056 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,438,299 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 41 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">41</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,481 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,678 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,681 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,501 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,852,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,326 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,871,139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (81 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (36,189 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (123,980 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (758 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (86,027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (247,035 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 416,859 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 538,179 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,140,723 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,378,132 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,412,132 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,700 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 76,461 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,662 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,712 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 139 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,646 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,001,165 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,974,614 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,738,889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 8,755,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,244,653 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 441,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 24,156,064 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Depreciation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (360,434 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (532,019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,914,789 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,020,767 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,870 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (30,386 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,865,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (60,907 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (138,579 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (566,259 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (517,033 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (34,309 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,319,135 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,188 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 90,668 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,654 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 112,517 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (75,174 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (38,107 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (59,353 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 67,841 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,795 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (19,419 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (121,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Impairment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,811 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (8,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (31,405 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (80,340 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (7,256 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (12,308 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (143,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (8,054 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (15,997 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (9,424 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (33,475 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (507,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (732,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,481,138 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,550,299 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,379 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (85,192 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,369,793 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (91,631 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (202,154 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (532,558 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (550,969 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (30,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,407,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,922 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 35,165 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 112,362 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 196 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 82,574 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 234,219 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Transfers<sup><sup><sup><sup><sup><sup><sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></sup></sup></sup></sup></sup></sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (20,891 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 21,190 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 59,284 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (14,569 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (242 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 44,772 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,645 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,331 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.25123%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,949 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (8,925 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 21.798%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (618,618 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (882,542 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,842,050 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (3,115,641 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (13,379 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.25123%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (35,281 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (7,507,511 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,069,871 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 724,822 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,239,327 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,820,827 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,790,795 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.25123%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 422,864 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,068,506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 21.798%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,382,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,092,072 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,896,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 5,639,360 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,231,274 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.25123%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 406,461 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 16,648,553 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_RPJYCZ5RW000000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 11%; text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 88%; text-align: justify;"><span style="border-right: none; border-left: none;">On December 31, 2021, and 2020, wagons and locomotives in the amount of R$745,203 were pledged to guarantee bank loans.</span></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top; width: 11%;" valign="top"><br/></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><br/></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top; width: 11%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 1%;"><br/></td>
<td style="text-align: justify; width: 88%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">They are substantially transferring from property, plant and equipment under construction as a result of the capitalization of said assets.</span></td>
</tr>
</tbody>
</table>
</div>

</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Capitalization of borrowing costs</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary Rumo capitalized during the year ended December 31, 2021, R$70,609 (R$ 34,107 on December 31, 2020) in construction in progress, at a weighted average rate of 11.81% p.a. (8.40% on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The indirect subsidiary TRSP capitalized during the year ended December 31, 2021, R$7,512 in fixed assets, at a weighted average rate of 2.78% p.a.</span></p>

<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">11.2.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Intangible assets</span><span style="font-weight: bold;"> and</span><span style="font-weight: bold;"> </span><span style="font-weight: bold;">goodwill</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">G</span><span style="font-weight: bold;">oodwill</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Goodwill is initially recognized based on the accounting policy for business combinations. Goodwill is measured at cost less accumulated impairment losses.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Goodwill acquired in a business combination is allocated to the Company&#8217;s cash-generating units (&#8220;CGU&#8221;), or groups of CGUs, that are expected to benefit from the synergies of the combination.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)<span 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: justify; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;&#160;&#160;&#160;&#160;</span>Other intangible assets</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other intangible assets that are acquired by the Company and have a short life are measured at cost, less accumulated amortization and any accumulated impairment losses.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Customer relationships</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Costs incurred on development of gas systems for new customers (including pipelines, valves, and general equipment) are recognized as intangible assets and amortized over the contract period.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Costs incurred with the customer portfolio and right-of-use and operating agreements are recognized as intangible assets and amortized over the term of the agreement.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Comg&#225;s</span><span style="font-weight: bold;">&#8217;s</span><span style="font-weight: bold;"> c</span><span style="font-weight: bold;">oncession rights</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s has a public concession agreement for a natural gas distribution service in which the Granting Authority controls what services will be provided and the price, as well it holds a significant participation in the infrastructure at the end of the concession. This concession agreement represents the right to charge users for gas supply during the term of the agreement. Accordingly, the subsidiary Comg&#225;s recognizes this right as an intangible asset.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s is subject to regulation, control and supervision of ARSESP. ARSESP establishes the maximum values of Comg&#225;s&#8217;s rates and regulates and supervises its business. Pursuant to Comg&#225;s&#8217;s concession agreement, every five years&#8212;or whenever ARSESP deems the economic and financial balance of the concession agreement to be adversely affected due to the variation of costs incurred by Comg&#225;s&#8212;Comg&#225;s&#8217;s rates are reviewed by ARSESP, which directly affects Comg&#225;s&#8217;s margins and its results, either positively or negatively.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Such margins are adjusted annually by the IGP-M minus the efficiency factor determined for each tariff cycle by ARSESP.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The intangible asset comprises: (i) the concession right recognized upon the business combination of Comg&#225;s, which is being amortized over the concession period on a straight line basis, considering the extension of the distribution services for another 20 years; and (ii) the acquired or constructed assets underlying the concession necessary for the distribution of gas, which is being depreciated to match the period over which the future economic benefits of the asset are expected to accrue to the Company, or the final term of the concession, whatever occurs first. This period reflects the economic useful lives of each of the underlying assets that comprise the concession. This economic useful life is also used by the ARSESP to determine the basis for measuring the tariff for rendering the services under the concession.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amortization of intangible assets reflects the pattern expected for the utilization of the future economic benefits by the Company, which corresponds to the useful lives of the assets comprising the infrastructure according to the ARSESP provisions.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amortization of the intangible assets is discontinued when the related asset is fully used or written off, and no longer is included in the calculation basis of the tariff for the rendering of the concession services, whichever occurs first.</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">e)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Rumo&#8217;s concession rights</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo&#8217;s concession rights generated in the business combination of Rumo Malha Norte S.A. (&#8220;Rumo Malha Norte&#8221;) was fully allocated to the Rumo Malha Norte concession and amortized on a straight-line basis.</span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">f)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Subsequent expenditure</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent expenditures are capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditures are recognized in profit or loss as incurred.</span></p>
<p style="margin: 0pt 0pt 10pt 57.7pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">g)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; <span style="font-weight: bold;">Amortization</span></span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Except for goodwill, intangible assets are amortized on a straight-line basis over their estimated useful lives, from the date they are available for use or acquired.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.</span></p>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<div style="font-family: 'times new roman', times; font-size: 10pt;">

<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 502px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 22.2906%; text-align: center;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Goodwill </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.867%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Concession rights </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Operating license </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.867%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Trademarks </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.99015%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Customer relationships </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.49754%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 22.2906%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.62069%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.867%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.62069%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.867%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.99015%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.49754%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.74384%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 904,977 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 18,024,518 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 435,795 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 46,170 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 829,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 387,278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,627,829 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,167 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,227 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 111,656 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,149 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 137,199 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 94,892 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 94,892 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (48,442 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (131 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (12,474 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (61,047 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 695,140 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 408,470 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (31,573 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,066,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Discontinued operation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 80,684 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13,541 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 75,861 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,919 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 181,005 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,088,720 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 18,676,443 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 435,795 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 54,207 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,424,947 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 366,299 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 22,046,411 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 765 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 35,834 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 155,469 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 219,050 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (224 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (169,815 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (44 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,146 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (173,229 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,109,131 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (92,447 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (786 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 140,253 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,165,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange variation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 19,625 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,232 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,481 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.49754%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,361 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50,699 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,132,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 19,616,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 379,182 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 66,640 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,604,067 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 509,053 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 23,308,283 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.867%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.867%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.99015%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.49754%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,884,699 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (236,122 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (9,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (410,449 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (243,699 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,784,170 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (490,100 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (11,774 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (86,162 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (88,988 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (677,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,030 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 21,958 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (10 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (390,554 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 105,459 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (275,904 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (17,978 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,854) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (22,832 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,357,779 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (247,896 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (905,032 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (227,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,737,972 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (588,411 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (11,838 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (116,860 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (38,524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (755,633 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 152,236 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 114 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,828 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 156,178 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (116,305 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 92,447 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (9,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (146,481 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (179,007 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Effect of exchange rate fluctuations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.867%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.99015%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (7,363 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.49754%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,988 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (10,351 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (3,910,259 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (167,287 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.867%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (9,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.99015%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,028,608 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.49754%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (411,430 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom: 2.8pt double #000000; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (5,526,785 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,088,720 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,318,664 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 187,899 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 54,207 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 519,915 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.49754%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 139,034 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,308,439 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 22.2906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,132,817 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 15,706,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 211,895 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.867%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 57,439 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.99015%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 575,459 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.49754%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 97,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 17,781,498 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.35468%;"><br/></td>
</tr>
</tbody>
</table>

<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
</div>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">

<div style="margin: 0 auto;">
<p><br/></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Amortization methods and useful lives</span></li>
</ul>

<div style="border-left: none; border-right: none;">
<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 296px;" width="100%">
<tbody>
<tr style="height: 35px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 64.4089%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Intangible assets (excluding goodwill) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 35px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Annual rate of amortization </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 35px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 35px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 35px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.80368%; height: 35px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s<sup><span style="vertical-align: super; font-size: 8pt;">(i)</span></sup></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,953,495 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; background-color: #cceeff; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; width: 9.97537%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,425,014 </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.80368%; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo<sup><span style="vertical-align: super; font-size: 8pt;">(ii)</span></sup></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.59% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,752,770 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 10px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,893,650 </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; width: 1.80368%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 15,706,265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 15,318,664 </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 1.80368%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Operating license for port terminal </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.70% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 211,895 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 187,899 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Trademarks </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 19px;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comma </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Undefined </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 57,439 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 54,207 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Customer relationships </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 19px;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 276,811 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 210,038 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 297,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 309,877 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,362 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 575,459 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 519,915 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 19px;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 9.97537%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 19px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Software license </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 46,770 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 86,090 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50,853 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; width: 9.97537%; height: 18px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 52,944 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 18px;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 64.4089%; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.97537%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.97537%; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 97,623 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.97537%; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 139,034 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1.68053%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 0.123153%; height: 10px;"/>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 64.4089%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.35468%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 9.97537%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 9.97537%; height: 10px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 16,648,681 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 10px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; width: 9.97537%; height: 10px; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 16,219,719 </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: middle; width: 1.68053%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; width: 0.123153%; height: 10px;"/>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>

<div style="margin: 0 auto;">
<div id="t_ft_MGBWHMX0KG00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 11%; text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 88%; text-align: justify;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the intangible asset for the public gas distribution service concession, which represents the right to charge users for the supply of gas, comprised of: (i) the concession rights recognized in the business combination and (ii) concession assets.</span></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><br/></td>
<td><br/></td>
<td><br/></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td><br/></td>
<td><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers to the railroad concession right agreement of&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">. The amount will be amortized until the end of the concession in 2079.</span></span></td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

</div>
<div style="margin: 0 auto;">
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Impairment testing of cash-generating units (&#8220;CGU&#8221;) goodwill</span></li>
</ul>

<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The combined carrying amounts of goodwill allocated to each cash-generating unit are as follows:</span></p>
<div id="t_ft_15PSM9J53K00000000000000000000b">
<table cellpadding="0" style="height: 102px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 66.4766%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 16.9897%; text-align: right; border-bottom: 1px solid #000000; height: 17px;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2020</span></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Moove </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 916,742 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 16.9897%; text-align: right; height: 17px;">882,373</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Compass </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 94,891 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 16.9897%; text-align: right; height: 17px;">94,891</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Log&#237;stica </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 100,451 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 16.9897%; text-align: right; height: 17px;">100,451</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 66.4766%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cash generating unit &#8211; Cosan &#8211; Other Business </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; border-bottom: 1px solid #000000; width: 18.0159%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,733 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; width: 16.9897%; text-align: right; border-bottom: 1px solid #000000; height: 17px;">43</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 66.4766%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 18.0159%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,132,817 </span></p>
</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 1.14025%; height: 17px;"><br/></td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; width: 16.9897%; text-align: right; border-bottom: 2.8pt double #000000; height: 17px;">1,077,758</td>
<td style="padding-left: 1.5pt; padding-right: 1.5pt; vertical-align: top; background-color: #cceeff; height: 17px; width: 1.14679%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In general, the Company's future cash flow projections apply growth rates of 3% (3.3% in 2020), which in no case are increasing or exceeding the average long-term growth rates for the industry and country in particular.</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows are discounted at a pre-tax rate to calculate their present value. Discount rates, before tax and expressed in nominal terms, were between 8.3% and 12.2% (between 8.3% and 9.3% in 2020).</span></p>

<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The annual impairment test used assumptions of which we list some:</span></p>
<div id="t_ft_BJVCTHW17K00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 205px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Assumptions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % annual </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 86%; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Risk-free fee (T-Note 10y) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 12%; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.46% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation (BR) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation (US) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.16% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation (UK) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2.04% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Country risk premium (BR) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.68% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Country risk premium (UK) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.51% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Country risk premium (ARG) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10.21% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Market risk premium </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.63% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax rate (BR) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax rate (UK) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 19.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax rate (ARG) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="font-size: 11pt; line-height: 115%; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30.00% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2020, the Logistics CGU recorded a provision for impairment in the amount of R$143,987 referring to the concession of Rumo Malha Oeste S.A. (&#8220;Rumo Malha Oeste&#8221;), of which R$143,018 refers to property, plant and equipment and R$966 refers to up to the right of use. During the year ended December 31, 2021, no changes were identified in the 2020 valuations for a provision revaluation. Additionally, management filed a re-bidding request for Rumo Malha Oeste to extend the concession period and, thus, reinvest in the rail network.</span></p>

</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2021, no impairment charge on assets and goodwill was recognized. The determination of the recoverability of the assets depends on certain key assumptions, as described above, which are influenced by the market, technological and economic conditions prevailing when this recovery is tested and, therefore, it is not possible to determine whether further reductions in the recoverable value will occur in the future and, if they occur, whether they would be material.</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">11.3</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Contract asset</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Contract assets are measured at acquisition cost, including capitalized borrowing costs. When the assets come into operation, the depreciable values within the concession agreement are transferred to intangible assets. Comg&#225;s reassess useful lives, whenever such assessment indicates that amortization period will exceed concession contract term, a portion of the asset is converted into financial asset as it represents an account receivable from the concession authority. Such classification is in accordance with IFRIC 12 &#8220;Service Concession Arrangements.&#8221;&#160;</span></p>
<div id="t_ft_NKKKLKQYIO00000000000000000000b">
<table cellpadding="0" style="height: 224px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 0.5pt solid #000000; height: 34px;"><span style="font-weight: bold;">Gas and Power</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 0.5pt solid #000000; height: 34px;"><span style="font-weight: bold;">Moove</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; text-align: right; border-bottom: 0.5pt solid #000000; height: 34px;"><span style="font-weight: bold;">Total</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">594,601</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">5,940</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 600,541 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 65%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 10%;">885,631</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right; width: 10%;">571</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 886,202 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8212;</span><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfer to concession rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and customer relationships </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(793,542</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; text-align: right;">2,737</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (790,805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">686,690</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">9,248</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 695,938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">1,020,176</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;">37,203</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,057,379 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; text-align: right;">(25,439</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (25,439 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfer to concession rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> and customer relationships </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(1,021,896</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; text-align: right;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8212;</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,021,896 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2021&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px; text-align: right;"><span style="font-weight: bold; border-left: none; border-right: none;">684,970</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 10px; text-align: right;"><span style="font-weight: bold; border-left: none; border-right: none;">21,012</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 705,982 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_XP8IQ8GCK000000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 17px;">
<tbody>
<tr style="height: 17px;">
<td style="width: 8.60547%; text-align: right; vertical-align: top; height: 17px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1.34208%; height: 17px;"><br/></td>
<td style="width: 90.0525%; text-align: justify; height: 17px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount of the transfers also includes a portion of the intangible asset that was reclassified to a financial asset according to the provisions of IFRIC&#160;</span><span>12</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">.</span></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<ul style="color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.91pt; padding-left: 7.79pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Capitalization of borrowing costs</span></li>
</ul>
<p style="margin: 0pt 0pt 10pt 75.7pt; color: #000000; font-family: 'times new roman', times; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">During the year ended December 31, 2021, the indirect subsidiary<span>&#160;</span>Comg&#225;s<span>&#160;</span>capitalized R$33,829<span>&#160;</span>at a weighted average rate of<span>&#160;</span>8.45% p.a. (R$36,522<span>&#160;</span>at a weighted average rate of<span>&#160;</span>7.40% p.a. on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">11.4</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Right-of-use assets</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;">The right-of-use asset is measured initially at cost, which comprises the initial measurement amount of the lease liability, adjusted for any lease payments made through the commencement date, plus any initial direct costs incurred by the lessee and an estimate of the costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the location in which it is located, or restoring the underlying asset to the condition required by the terms and conditions of the lease, less any lease incentives received.</p>

</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The right-of-use asset is subsequently depreciated on a straight-line basis from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the lessee at the end of the lease term, or if the cost of right-of-use asset reflects that the lessee will exercise the purchase option. In this case, the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as that of the property, plant and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.&#160;&#160;<br/></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary Rumo evaluated its railroad concessions within the scope of the IFRIC 12&#160;Concession Contracts interpretation and, as it did not meet the terms within the scope of this interpretation, it registered its concession contracts as a right of use.<br/></span></p>

<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 545px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 9.23645%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Land, buildings and improvements </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Machinery, equipment and facilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.74384%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Freight cars and locomotives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.37438%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Software </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.37438%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Vehicles </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 9.23645%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Port and rail infrastructure </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 53px; width: 8.62069%; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 20.8128%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.23645%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.74384%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.74384%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.37438%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.37438%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 9.23645%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 8.62069%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.23153%; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1.35468%; height: 19px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 247,430 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,718 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,038,641 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 66,931 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,259 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,803,954 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,181,933 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 124,014 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 18,714 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 864 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,438 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,406,560 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,565,590 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contractual adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 187 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,397 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,783 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (334 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 251,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 263,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (107,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (107,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9,197 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (707 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;8,490 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;">380,828</p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 39,122 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 933,325 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 82,369 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13,925 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,462,368 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,911,937 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business Combination (note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,240&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,240&#160;&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73,039 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 47,554 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 43 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,219 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,108 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 150,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Contractual adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 41,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 48,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,242 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,659 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 41 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 330,312 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 430,701 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (12,121 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(14,957 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (233,296 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,264 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (7,475 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (233,507 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,530 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,561 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (86 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,005 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 254,883 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 142,449 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 938,610 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 87,028 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 29,099 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,800,313 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 9,252,382 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.74384%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.37438%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.37438%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.23645%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 8.62069%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (78,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,074 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (367,072 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (7,594 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,457 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (250,456 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (713,618 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (34,977 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (9,527 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (53,413 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,940 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,572 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (230,057 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (339,486 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Impairment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 59,745 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 59,745 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,888 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,382 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (115,830 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (12,095 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (360,740 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (12,534 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,029 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (481,479 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (995,707 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Additions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (30,838 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (16,339 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (38,478 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,425 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,131 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (322,042 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (414,253 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Transfers </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 75,134 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,547 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 26,885 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 100,472 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposals </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,880 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,229 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 20.8128%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Currency translation adjustments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (265 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,506 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.74384%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.37438%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 35 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 9.23645%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom: 1px solid #000000; width: 8.62069%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,736 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.23153%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (67,919 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (29,258 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.74384%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (399,218 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (16,959 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.37438%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (15,125 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.23645%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (776,636 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 8.62069%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,305,115 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 264,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 27,027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 572,585 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 69,835 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 896 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,980,889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom: 1px solid #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,916,230 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; width: 1.35468%;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 20.8128%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 186,964 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 113,191 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.74384%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 539,392 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 70,069 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.37438%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 13,974 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 9.23645%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,023,677 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000; width: 8.62069%; text-align: right;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; border-bottom: 1px text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,947,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
</tr>
</tbody>
</table>

</div>
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify;"><br/></p>
<div id="t_ft_RQ227XHUZK00000000000000000000b">
<table style="width: 100%; margin: 0px; font-family: 'times new roman'; font-size: 10pt; text-indent: 0px;">
<tbody>
<tr>
<td style="width: 71.901px; text-align: right;">(i)</td>
<td style="width: 9.21875px;"><br/></td>
<td style="width: 787.357px; margin: 0px; text-indent: 0px; padding: 0px;"><span style="border-right: none; border-left: none;"><span style="border-left: none; border-right: none; text-align: justify;">On June 16, 2021, the subsidiary Rumo exercised a purchase option on the Rondon&#243;polis Railway Terminal in the amount of R$184,100 (historical cost), which is being leased to the subsidiary Rumo Malha Norte S.A.</span></span></td>
</tr>
</tbody>
</table>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify; text-indent: -21.6pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">11.5</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Investment property</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Investment property is measured initially at cost, including transaction costs. Subsequent to initial recognition, investment property is stated at fair value, which reflects market conditions at the reporting date. Revenue from the sale of agricultural properties is not recognized in income until (i) the sale is completed, (ii) the Company determines that payment by the buyer is probable; (iii) revenue can be measured reliably; and (iv) the Company has transferred the ownership risks to the purchaser, and no longer has any involvement in the property. Gains on the sale of agricultural properties are presented in the income statement as net income and the cost is presented as cost of properties sold.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of agricultural properties was determined based on the direct comparative method of market data applied to transactions with similar properties (type, location and quality of the property), and to some extent based on sales quotations for potential transactions with comparable assets (level 3). The methodology used to determine fair value takes into account direct comparisons of market information, such as market research, homogenization of values, spot market prices, sales, distances, facilities, access to land, topography and soil, use of land (type of crop) and rainfall, among other data, in line with the standards issued by the Brazilian Association of Technical Standards Associa&#231;&#227;o Brasileira de Normas T&#233;cnicas), or &#8220;ABNT&#8221;. Significant unobservable inputs range from 6.5% p.a. and 9% p.a. on December 31, 2021.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The portfolio is evaluated annually by external experts and is periodically reviewed by in-house professionals technically qualified to carry out this type of evaluation.</span></p>

<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The balances of investment properties are shown below:</span></p>
<div id="t_ft_Y51H97581S00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 120px;" width="100%">
<tbody>
<tr style="height: 17px;">
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Investment property </span></p>
</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; width: 86%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Subsidiary acquisition (Note 9.3) </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,875,752 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Variation in fair value, net </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision of Real Estate Transfer Tax </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (6,450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 2pt; padding-right: 2pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,886,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding-left: 2pt; padding-right: 5pt; vertical-align: middle; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of property, plant and equipment, intangible assets including goodwill, right-of-use assets and contract assets.</p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487427528">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCommitmentsExplanatory', window );">Commitments</a></td>
<td class="text">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">12. Commitments</span></p>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>Considering the current gas supply contracts, Comg&#225;s has a total financial commitment in an estimated present value of R$7,745,842, until the end of December 2023, which amount includes the minimum established in contract in both commodity and transportation.&#160; &#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>The sub-concession contracts to which the Rumo, through its subsidiaries, is a party, often include commitments to execute investments with certain characteristics during the term of the contract. We can highlight: The renewal addendum to the concession of Rumo Malha Paulista, which foresees the execution long with the concession of a set of investment projects to increase capacity and reduce urban conflicts, estimated by the agency at R$6,100,000 (value updated until December 2017). Of this amount, around R$3,000,000 comprise the obligations, whose physical execution was 16%. The Rumo Malha Central sub-concession contract provides for investments with a fixed term (<span style="-sec-ix-hidden:Tag7155">one</span> to <span style="-sec-ix-hidden:Tag7154">three</span> years from the signing of the contract), estimated by ANTT at R$645,573. As of December 31, 2021, the physical execution of the obligation book projects was 65% (56% on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span>The Eleva&#231;&#245;es Portu&#225;rias concession and lease agreement provide for investments aimed at improving and modernizing the facilities and equipment allocated therein, estimated in the amount of R$340,000. On December 31, 2021, the subsidiary had made investments at a cost of R$270,629&#160;(R$ 270,629 on December 31, 2020).</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span> The subsidiary Compass G&#225;s e Energia, through Compass Comercializa&#231;&#227;o, has a contract for the supply of Liquefied Natural Gas ("LNG") with Total Gas &amp; Power Limited which after overcoming the preceding conditions, is committed to incurring the staggered acquisition LNG supply capacity of up to 120 TBTU for a period of 10 years.</span></p>
<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487351448">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Concessions payable<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfConcessionsPayableExplanatory', window );">Concessions payable</a></td>
<td class="text">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">13</span>.&#160; &#160; Concessions payable</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The balance of lease installments involved in lawsuits with the granting authority is recorded in this account. The initial registration takes place at the amount of the installment at maturity, by transferring the &#8220;Leases&#8221; account. Subsequently, the values are corrected by Selic.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Balances paid in installments with the Granting Authority are kept in this account. The initial registration is for the amount remaining due from the resolution of the dispute. The values are corrected by Selic until payment.</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">This account also includes balances payable in connection with the granting of concession rights (&#8220;Concessions&#8221;), initially recorded as a contra entry to intangible assets (Note <span style="border-left: none; border-right: none;">11.2</span>). Subsequent measurement occurs at the effective rate.</span></p>
<div id="t_ft_B76CQ7U6V400000000000000000000b">
<table cellpadding="0" style="height: 0px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Court discussion </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 55,170 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 101,871 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,747,233 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,617,764 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,802,403 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,719,635 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Railroad concession payable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,145,450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,154,919 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Sul S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 85,713 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 84,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,682 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,151 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 106,395 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 108,788 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,054,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,983,342 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 160,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 158,705 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,893,477 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,824,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
</tr>
</tbody>
</table>
</div>


</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Court Discussion</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rumo Malha Oeste also pleads for the reestablishment of the economic and financial balance, lost due to the cancellation of transportation contracts existing at the time of privatization, configuring changes in the regulatory scenario and conditions established in the Privatization Notice - in addition, the growth forecasts that defined the business value did not materialize. The lawsuit is pending before the Federal Regional Court of the second Region. The amount referring to the Company&#8217;s overdue installments was guaranteed by the acquisition of public debt securities (<span style="font-style: italic;">Letras Financeiras do Tesouro</span>) or &#8220;LFT.&#8221; In March 2008, the Company obtained authorization to replace the guarantee with bank guarantee and in May 2008 the Company redeemed the amounts. In December 2014, a decision was handed down that upheld the lawsuit, recognizing the occurrence of economic and financial imbalance in the contracts. In December 2015, a request for replacement of letters of guarantee presented by the Company with guaranteed insurance was granted. An appeal judgment is pending before the Federal Regional Court (<span style="font-style: italic;">Tribunal Regional Federal</span>), or &#8220;TRF.&#8221;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Management, supported by the opinion of its lawyers, assesses the chances of success as probable, but maintains the record of the liability because it is a contractual obligation not yet withdrawn from the Company, and because the amount is still pending.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On July 21, 2020, the Company filed with the ANTT, a request to qualify for a new bidding process to third parties of the object of the Concession Contract signed between Rumo Malha Oeste and the Brazilian government, through the Ministry of Transport (&#8220;Re-bidding Process&#8221;), according to Federal Law No. 13,448 of June 5, 2017, and regulated by Decree No. 9,957 of August 7, 2019.</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Judicial deposits at December 31, 2021 and 2020 concerning the above claims are as follows:&#160;</span></p>
<div id="t_ft_K2H4S4URK000000000000000000000b">
<table cellpadding="0" style="height: 0px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;"> December 31, 2021</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><br/></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; text-align: center; height: 10px;"><span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 20</span><span style="color: #000000; font-family: 'times new roman', times; font-size: 10.6667px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">20</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste S.A. </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1pt solid #000000; height: 18px; width: 12%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 22,119 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 1pt solid #000000; height: 18px; width: 12%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 22,119 </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 18px; width: 1%;"/>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 22,119 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 22,119 </span></p>
</td>
<td style="vertical-align: top; height: 20px;"/>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Rail</span><span style="font-style: italic; font-weight: bold;">road</span><span style="font-style: italic; font-weight: bold;"> concession payable</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">As a condition for entering into the renewal amendment for Rumo Malha Paulista, there was a need for the Company to resolve the dispute involving the economic and financial rebalancing of the original contract. To this end, an agreement was signed between Rumo Malha Paulista, Brazilian government and ANTT, in which it was agreed: i) a credit in favor of the Company related to labor liens paid up to 2005; ii) the conversion of existing judicial deposits in favor of the Union; iii) an uncontroversial balance in favor of the Federal Government, divided into eight annual installments adjusted by Selic; iv) a portion of liabilities to be offset against potential credits in favor of the Company, these credits, subject to the assessment to be carried out by a working group involving the parties.&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The effects of the offsetting of balances were updated up to the registration date and resulted in a reversal of R$479,563 (R$348,319 in other expenses and R$131,243 in the financial result). As a result of the agreement, suspensions of the proceedings for return lawsuits filed by Rumo against the Brazilian government were required to determine labor claims that were not part of the agreement (from 2005), and which will be the subject of an investigation to be carried out by working group involving the parties. In parallel, the parties will submit a request for judicial approval of the agreement in the records of the economic and financial rebalancing action of the contract.</span></p>
</div>

<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Leases and grants under IFRS 16</span><span style="font-style: italic; font-weight: bold;"> (Note 6.</span><span style="font-style: italic; font-weight: bold;">7</span><span style="font-style: italic; font-weight: bold;">)</span></span></p>
<div id="t_ft_FN881L1QRK00000000000000000000b">
<table cellpadding="0" style="height: 271px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 10px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td colspan="2" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Sul&#160;</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 623,155 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 2%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 600,745 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 508,169 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 475,647 </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Oeste </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 216,101 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 179,568 </span></p>
</td>
<td style="vertical-align: top; height: 18px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Eleva&#231;&#245;es Portu&#225;rias </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 97,046 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 76,925 </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Portofer </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13,921 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,463 </span></p>
</td>
<td style="vertical-align: top; height: 18px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,458,392 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,345,348 </span></p>
</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Grants </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 21px;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Paulista (renewal) </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 590,594 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 492,222 </span></p>
</td>
<td style="vertical-align: top; height: 18px; background-color: #cceeff;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo Malha Central S.A. </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 614,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 491,354 </span></p>
</td>
<td style="vertical-align: top; height: 18px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,205,004 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 983,576 </span></p>
</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,663,396 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,328,924 </span></p>
</td>
<td style="vertical-align: top; height: 20px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Current </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 274,774 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 232,212 </span></p>
</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Non-current </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,388,622 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,096,712 </span></p>
</td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
</tbody>
</table>
</div>

</div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of concessions payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487406728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other taxes payable<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfOtherTaxesPayableExplanatory', window );">Other taxes payable</a></td>
<td class="text">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">14</span>.&#160; &#160; Other taxes payable</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is subject to taxes, contributions and municipal, state and federal duties, in its respective jurisdictions.&#160;</span></p>
<div style="border-left: none; border-right: none;">
<table cellpadding="0" style="height: 0px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax amnesty and refinancing program </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 200,664 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 202,377 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ICMS &#8211; State VAT </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 278,351 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 198,708 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> COFINS &#8211; Revenue tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 88,214 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 61,930 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> PIS &#8211; Revenue tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,082 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 16,578 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> INSS &#8211; Social security </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34,215 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 29,515 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IRRF - Withhold Income Tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 11,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> ISS &#8211; Service tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,108 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IOF &#8211; Financial tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 873 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 55,559 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 55,255 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 683,109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 566,344 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 536,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 417,326 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-current </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 146,889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 149,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>


<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amounts due on non-current liabilities present the following maturity schedule:&#160;&#160;</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<div id="t_ft_J6KCWR5Y0G00000000000000000000b">
<table cellpadding="0" style="height: 186px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin-left: 0.1px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13 to 24 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,370 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,254 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25 to 36 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 37 to 48 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 716 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,478 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 49 to 60 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 716 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 691 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 61 to 72 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 137,687 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 134,151 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73 to 84 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 716 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 691 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 85 to 96 months </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 716 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 691 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Thereafter </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 454 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 919 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 146,889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 149,018 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 22px;"><br/></td>
</tr>
</tbody>
</table>
</div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487442552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<p style="margin: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">15. Income tax and social contribution</span></p>
<p style="margin: 10pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The statutory income taxes rate in Brazil is 34%. Income taxes in Brazil are paid by each legal entity on a stand-alone basis and tax consolidation is not permitted. Current tax and deferred tax are recognized in profit or loss except for some transactions that are recognized directly in equity or in other comprehensive income.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">a) Current tax</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Current tax is the expected tax payable or receivable on the taxable income or loss for the period, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">b) Deferred tax</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes and tax loss.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The measurement of deferred tax reflects the way the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to taxes levied by the same tax authority and the same taxable entity.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">c) Tax exposure</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In determining the amount of current and deferred tax, the Company considers the impact of uncertain tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Company to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact tax expense in the period that such a determination is made.</span></p>

<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">d) Recoverability of deferred income tax and social contribution</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In assessing the recoverability of deferred taxes, management considers the projections of future taxable income. When it is not probable that part or all the taxes will be realized, the tax asset is reversed. There is no expiration date for the use of tax loss carryforwards and negative bases, but the use of these accumulated losses of previous years is limited to 30% of annual taxable income.&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Reconciliation of income tax and social contribution expenses&#160;</span></span></p>
<div style="border-left: none; border-right: none;">
<table cellpadding="0" style="height: 322px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt; color: black; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt; color: black; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 8pt; color: black; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Profit before taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 6,250,876 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 1,990,961 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 3,661,948 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></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-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Income tax and social contribution nominal rate (34%) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (2,125,298 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (676,927 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (1,245,062 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Adjustments to determine the effective rate&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Interest in earnings of investees (non-taxable income) <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 1,734,883 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 207,940 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 385,097 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Differences in tax rates on earnings&#160;(losses) of overseas companies </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 55,910 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 19,793 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (78,026 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Granted income tax incentive </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 199,687 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 109,081 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 178,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Share-based payment transactions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 9,941 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> 19,986 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Interest on shareholders&#8217; equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (72,804 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (24,773 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (26,766 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Non-deductible expenses (donations, gifts, etc.) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (28,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (4,183) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (16,925 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Tax losses not recorded </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (203,809 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (170,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> (69,335 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; margin: 0px; text-indent: 0px; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;">)</span></td>
</tr>
<tr style="background-color: #cceeff; height: 20px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; background-color: #cceeff; margin: 0pt; text-indent: 10pt; height: 20px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <span>ICMS benefit -<span>&#160; </span>extemporaneous tax credits </span><sup><span>(ii)</span></sup> </span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;">290,745</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right;">&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; margin: 0pt; text-indent: 10pt; height: 20px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <span>ICMS benefit - current period </span><sup><span>(iii)</span></sup> </span><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;">118,107</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="background-color: #cceeff; height: 17px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; background-color: #cceeff; margin: 0pt; text-indent: 10pt; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> Rate difference&#160;</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">5,577</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; margin: 0pt; text-indent: 10pt; height: 20px;"><span style="font-family: 'times new roman', times; font-size: 10pt; ;color: black;"> <span>Amortization of the effects on formation of joint ventures </span><sup><span>(iv)</span></sup> </span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;">402,571</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;">&#8212;<br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right;">&#8212;</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Goodwill amortization effect&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,271 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,271 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,271 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding: 0px 4px 0px 14px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt; font-family: 'times new roman', times;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span>Other</span><sup><span> (v) (vi)</span></sup> </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 66,355 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25,207 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 71,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Income tax and social contribution - current and deferred </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">445,584 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (502,667 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (779,596 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Effective rate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7.13% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 25.25% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 21.29% </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 0pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="border-right: none; border-left: none;">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="text-align: right; vertical-align: top; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="padding: 1px 1px 7px;"><br/></td>
<td style="text-align: justify; padding: 1px 1px 7px;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The amount of R$129,792<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, referring to the amortization of the surplus value of&#160;</span>Raizen<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, is treated as a temporary difference.</span></span></td>
</tr>
<tr>
<td style="text-align: right; vertical-align: top; width: 3%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="width: 2%;"><br/></td>
<td style="text-align: justify; width: 95%;"><span style="border-right: none; border-left: none;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The subsidiary&#160;</span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;recognized an extemporaneous credit in the amount of R$&#160;358,898<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;(R$&#160;290,745<span style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;principal and R$&#160;68,152<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;interest), used through its offset against IRPJ, CSLL, PIS and COFINS payable due in the year , related to the overpayments of Income Taxes (<span style="font-style: italic;">Imposto de Renda Pessoa Jur&#237;dica</span>), or &#8220;IRPJ,&#8221; and Social Contribution on Net Profits (Contribui&#231;&#227;o Social sobre o Lucro L&#237;quido), or &#8220;CSLL&#8221;, in the years 2015, 2016 and 2019, when this benefit was not computed in the calculation of the IRPJ and CSLL due by the Company, due to the non-taxation of the benefit of the reduction in the tax base of ICMS in the State of S&#227;o Paulo from (12<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% to15.6&#160;<span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">% pursuant to art. 8 of Annex II of the ICMS Regulation, approved by State Decree No. 45,900 (&#8220;RICMS/SP&#8221;), as amended by State Decree No. 62,399/2016. These credits were recognized by the Company based on its best understanding of the subject, substantiated by the opinion of its external legal advisors, which took into account all the jurisprudence applicable to the subject. The Company also considered all the accounting rules in force, which, after being analyzed together, did not indicate any other accounting effect to be recognized.</span></span></span></span></span></span></span></span></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="border-left: none; border-right: none;">
<table style="width: 100%; margin-left: 0.1px; height: 119px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr style="height: 34px;">
<td style="text-align: right; vertical-align: top; height: 34px; width: 3%; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="vertical-align: top; height: 34px; width: 2%; padding: 1px 1px 7px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 34px; width: 95%; padding: 1px 1px 7px;" valign="top"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">After January 1, 2021, the subsidiary&#160;</span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;changed its tax procedure, excluding the benefit of the reduction in the ICMS tax base, granted by the State of&#160;</span>S&#227;o<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo, directly from the calculation of IR and CS for the current year.</span></span></td>
</tr>
<tr style="height: 17px;">
<td style="text-align: right; vertical-align: top; height: 17px; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
<td style="vertical-align: top; height: 17px; padding: 1px 1px 7px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 17px; padding: 1px 1px 7px;" valign="top"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Reversal of deferred income tax and social contribution liabilities on the amortization of fair value related to the gain recorded in the formation of&#160;</span>Ra&#237;zen</span></td>
</tr>
<tr style="height: 34px;">
<td style="text-align: right; vertical-align: top; height: 34px; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
<td style="vertical-align: top; height: 34px; padding: 1px 1px 7px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 34px; padding: 1px 1px 7px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company reversed the deferred IRPJ and CSLL in the amount of R$284,738<span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, on the interest on the put option in the investment transaction, which involved CIP</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and the banks, as a result of the settlement of the put option see Note 2.</span></span></span></td>
</tr>
<tr style="height: 34px;">
<td style="text-align: right; vertical-align: top; height: 34px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vi)</span></td>
<td style="vertical-align: top; height: 34px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; height: 34px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Considering the effects of the judgment of STF RE No.&#160;1,063,187, dated September 24, 2021, it concluded that certain financial effects related to the equity recomposition in the event of repetition of undue taxes should not form the basis of the company's taxable income. Company and its subsidiaries the amount of R$</span>370,564.</td>
</tr>
</tbody>
</table>
</div>
</div>

<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Deferred income tax assets and liabilities</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The tax effects of temporary differences that give rise to significant portions of the Company&#8217;s deferred tax assets and liabilities are presented below:</span></p>
<div id="t_ft_A15JXBE5AO00000000000000000000b">
<table cellpadding="0" style="height: 331px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets credits of: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1%;"/>
</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income tax losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,987,069 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,574,260 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Social contribution losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,087,742 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 929,432 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Temporary differences </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share-based payment transactions </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50,114 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 19,129 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Allowance for expected credit losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 28,948 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 31,416 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit sharing </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 111,931 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 41,080 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax credit losses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 81,918 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 83,833 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on preferred shareholders payable in subsidiaries </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 167,412 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Post-employment benefits </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 160,082 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 200,461 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss allowances for impairment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 193,207 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 226,092 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provision for legal proceedings </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 374,369 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 288,967 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Miscellaneous expense allowance </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 401,423 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 366,224 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</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: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Review of useful life of property, plant and equipment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 399,537 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 431,629 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff;"/>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange - Loans and borrowings </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,667,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,962,892 </span></p>
</td>
<td style="vertical-align: top; height: 20px;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Other&#160;<sup>(i)</sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 300,307 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 242,018 </span></p>
</td>
<td style="vertical-align: top; height: 10px; background-color: #cceeff;"/>
</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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,876,239 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,532,753 </span></p>
</td>
<td style="vertical-align: top; height: 17px;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">(</span><span style="font-weight: bold;">-) Deferred</span><span style="font-weight: bold;"> taxes assets net not recognized </span><span style="font-size: 8pt;"><sup>(ii)</sup></span></span></p>
</td>
<td colspan="2" style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,483,035 </span></p>
</td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,318,998 </span></p>
</td>
<td style="height: 10px; background-color: #cceeff; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
<div>
<div id="t_ft_262GLKYQ7400000000000000000000b">

</div>
</div>
<div id="t_ft_BP94I4IA6800000000000000000000b">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table cellpadding="0" style="height: 286px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Liabilities credits of: </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.987%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Temporary differences </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value option to loans </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (127,318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 526,001 </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value amortization of the property, plant and equipment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (15,976 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,640 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Leases </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (25,460 </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax deductible goodwill </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (331,404 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (839,939 </span></p>
</td>
<td style="vertical-align: top; height: 20px; background-color: #cceeff; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Investment properties </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (100,197 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Marketable securities </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (62,593 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;"/>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provision for realization - Goodwill recorded in equity <sup>(iii)</sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (449,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income on formation of joint ventures </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (668,508 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,135,036 </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Unrealized gains on derivatives instruments </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,034,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,206,216 </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Review of useful life of property, plant and equipment </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (53,347 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 17px; background-color: #cceeff; width: 1.08063%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value amortization of the intangible asset </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,551,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,603,568 </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 235,073 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 282,212 </span></p>
</td>
<td style="vertical-align: top; height: 10px; background-color: #cceeff; width: 1.08063%;"/>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 72.9011%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 11.987%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (6,159,632 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-bottom: 1pt solid #000000; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (7,004,646 </span></p>
</td>
<td style="vertical-align: top; height: 17px; width: 1.08063%;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total deferred taxes recorded, net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (766,428 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,790,891 </span></p>
</td>
<td style="height: 20px; background-color: #cceeff; width: 1.08063%; padding: 0px 0px 2px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Deferred tax assets </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,051,628 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,900,241 </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 72.9011%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Deferred tax liabilities </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.987%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (3,818,056 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; background-color: #cceeff; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (3,691,132 </span></p>
</td>
<td style="vertical-align: top; height: 10px; background-color: #cceeff; width: 1.08063%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>
<p style="text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span><br/></p>
<div id="t_ft_0AV8T6YUNK00000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 2%; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 98%; vertical-align: top;" valign="top"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Refers mainly to tax losses and temporary differences of the Company,&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Sul<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Oeste<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, which, under current conditions, do not meet the requirements for accounting for said income tax and social contribution assets deferred due to the lack of predictability of future generation of tax profits.</span></span></td>
</tr>
<tr>
<td style="vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Provision for accounting realization of tax loss recognized in the capital contribution in a subsidiary.</span></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Changes in deferred income tax</span></span></p>
<div id="t_ft_K7FO2HEYPS00000000000000000000b">
<table cellpadding="0" style="height: 258px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Tax loss and negative basis </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Employee benefits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Provisions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Post-employment benefits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Property, plant and equipment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Unregistered credits </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 36px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 21%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,915,329 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 73,866 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 963,637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 214,496 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 408,581 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (2,198,164 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,177,857 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,555,602 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 587,315 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (13,657 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,612 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,958 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (9,044 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (120,834 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 113,454 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 570,580 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34,505 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (28,993 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 39,930 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 46,490 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,041,083 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,041,083 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 3,503,692 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 60,209 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 996,530 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 200,461 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 399,537 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,318,998 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 2,372,324 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 5,213,755 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
<tr style="height: 34px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 565,197 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">101,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">93,396 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(12,737 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (433,371 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (163,890 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,642,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,491,712 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 34px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (27,642 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(147</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 20,035 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(7,754 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Recognized in equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">5,878</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">68</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,213 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business combination (Note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 44 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (10,129 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (19,513 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">  &#8212;  </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(29,598 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,213,324 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,213,324 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,074,811 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 162,045 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,079,865 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 160,082 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 53,347 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,483,035 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,967,807 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 4,908,228 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div>

</div>
<div style="border-left: none; border-right: none;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0pt; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 229px;" width="100%">
<tbody>
<tr style="height: 53px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Liabilities </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Effects on the formation of joint ventures </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Intangible assets </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Unrealized gains on derivatives </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Leases </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Fair value adjustment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 53px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 53px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 24%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,135,036 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,663,085 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (923,672 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (36,346 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 174,597 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (248,060 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,831,602 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1%; background-color: #cceeff;">)</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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 59,517 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,282,808 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,667 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 351,405 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (311,745 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,172,964 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 264 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (34 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business combination </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (530 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (530 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,135,036 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (3,603,568 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (2,206,216 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (25,459 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 526,002 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (560,369 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (7,004,646 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Credited / (charged) to the profit for the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">466,528</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">51,732</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,063,297 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 456,858 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(653,320</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">126,479 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other comprehensive income (loss) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;">108,546</p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;">230</p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;">&#8212;</p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (127,076 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (18,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Business combination (Note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (163,284 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (163,284 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> As at December 31, 2021</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (668,508 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (3,551,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,034,373 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (431,629 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 127,318 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (724,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (5,674,656 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total deferred taxes recorded </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (766,428 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">)</td>
</tr>
</tbody>
</table>
</div>

<p style="text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company evaluated the period for offsetting its deferred tax assets on tax losses, negative basis of social contribution and temporary differences through the projection of its taxable income. In the year ended December 31, 2021, the Company continued to monitor the observed impacts of the COVID-19 pandemic and evaluated the impacts of the increase in interest rates and judged that the potential effects should not affect the medium and long-term projections to point of harming the realization of balances. The results projected by the Company generate the following expected realization on December 31, 2021:&#160;&#160;</span></p>

<table cellpadding="0" style="height: 140px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin: 0px; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;">
<p style="margin: 0px; text-align: right; text-indent: 0px; padding-left: 0px; padding-right: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; margin: 0px; text-indent: 0px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: center; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 17px; width: 87%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Within 1 year </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; width: 12%; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 266,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; width: 1%; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 1 to 2 years </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 277,527 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 2 to 3 years </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 322,779 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 3 to 4 years </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 329,506 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 4 to 5 years </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 350,582 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 5 to 8 years </span></p>
</td>
<td style="padding: 0px; height: 17px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 976,496 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 17px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> From 8 to 10 years </span></p>
</td>
<td style="padding: 0px; background-color: #cceeff; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 528,129 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; background-color: #cceeff; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding: 0px; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="margin: 0px; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; vertical-align: bottom; margin: 0px; text-indent: 0px;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0px; padding-bottom: 1pt; text-align: right; padding-left: 0px; padding-right: 0px; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,051,628 </span></p>
</td>
<td style="padding: 0px; vertical-align: top; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provision for legal proceedings and judicial deposits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<div style="margin: 0 auto;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">16.&#160; Provision for legal proceedings and judicial deposits</span></p>
<p style="margin: 9pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provisions for legal proceedings are recognized as other expenses when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The assessment of probability loss includes the available evidence, hierarchy of laws, jurisprudence, the most recent court decisions and relevance in the legal system, as well as the opinion of outside counsel. Provisions are reviewed and adjusted according to circumstances, such as limitation period, conclusions of tax inspections or additional exposures identified based on new matters or court decisions.</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Provisions for legal proceedings resulting from business combinations are estimated at fair value at acquisition date.</span></p>
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<div id="t_ft_G5A1ZPN9V400000000000000000000b">

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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<div style="border-right: none; border-left: none;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company had provision for legal proceedings and judicial deposits recorded at December 31, 2021 and 2020 in respect of:</span></p>

<table cellpadding="0" style="height: 103px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Provision for legal proceedings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td colspan="5" style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Judicial deposit </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 53%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 647,610 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 635,406 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 500,484 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 10%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 462,197 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px; width: 1%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Civil, environmental and regulatory </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 585,034 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 350,769 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 169,857 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 140,833 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Labor </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 411,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 374,723 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 252,720 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 272,812 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,644,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,360,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 923,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 875,842 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>

</div>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 53.85pt; text-align: justify; text-indent: -18pt;"><span style="font-size: 10pt;">Changes in provision for legal proceedings:</span><br/></p>
<div style="border-right: none; border-left: none;">
<div id="t_ft_LMKULNV2XC00000000000000000000b">
<table cellpadding="0" style="height: 182px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 23px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 52.9461%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Tax </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 10.0415%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Civil, environmental and regulatory </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Labor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 23px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At January 1, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 589,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 332,527 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 432,464 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,354,171 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provisions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25,443 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 46,989 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 68,049 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 140,481 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Settlement / Write-offs </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (11,947 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.0415%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (76,772 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (134,071 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (222,790 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.07884%;">)</td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Exchange rate </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest<sup> (i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 32,730 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10.0415%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 48,025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,172 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 88,927 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> At December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 635,406 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 350,769 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 374,723 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,360,898 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Provisions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,559 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.0415%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 103,805 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 114,596 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 242,960 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Settlement / Write-offs </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (15,331 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.0415%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (56,931 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (117,238 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.95851%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (189,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.07884%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 52.9461%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,976 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 10.0415%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 187,391 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 39,336 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 229,703 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.07884%;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; width: 52.9461%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 647,610 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 10.0415%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 585,034 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 411,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 0.995851%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 20px; width: 9.95851%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,644,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; width: 1.07884%;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_T0J00OP7B400000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%;"><br/></td>
<td style="width: 91%;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Includes write-off of interest due to reversals.</span></td>
</tr>
</tbody>
</table>
</div>
</div>

<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s legal proceedings are secured by assets, cash deposit, bank guarantee or insurance guarantee.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has indemnity actions in addition to those mentioned, which, since they are considered probable, were not recorded because they represent contingent assets.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Probable losses</span></span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Tax</span></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The principal tax proceedings for which the risk of loss is probable are described below:</span></p>
<div id="t_ft_DBLELFXT0G00000000000000000000b">
<table cellpadding="0" style="height: 132px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 73%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Compensation with FINSOCIAL <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 300,470 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 296,445 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">INSS - Social security <sup>(ii)</sup>&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 97,847 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 97,928 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">State VAT - ICMS credit <sup>(iii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 85,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 93,743 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPI - Excise tax credit - NT <sup>(iv)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 43,461 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 53,697 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Federal income taxes </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,553 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9,508 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> PIS and COFINS </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 28,427 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other&#160;&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 82,887 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 81,781 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 647,610 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 635,406 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<div id="t_ft_SJA8Z80RI800000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt;">
<tbody>
<tr>
<td style="width: 8%; text-align: right; padding: 0px 1px; vertical-align: top;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="width: 1%; padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="width: 91%; padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Brazilian federal tax authorities denied applications filed by CLE to set off credits derived from undue payments of FINSOCIAL, a social tax levy, against other federal tax debts. Based on a favorable judicial decision, Mobil acquired the right to set off credits of FINSOCIAL against certain COFINS liabilities. However, a subsequent favorable judicial decision granted CLE immunity against the enforcement of such COFINS-related debts. Therefore, previous set-off applications were canceled, because COFINS liabilities ceased to exist, and CLE sought to use the relevant tax credits to set off other federal tax debts. However, the Brazilian federal tax authorities refused to ratify the set-offs, claiming that the COFINS immunity applied only to the fiscal year during which the lawsuit was filed (i.e., in 1992). No judicial deposits were made for these proceedings. The provision for these proceedings was R$296,400 as of December 31, 2020, and R$293,291 as of December 31, 2019. No judicial deposits were made.&#160;</span></p>
</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">&#160;</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> The amount provisioned for INSS, among other cases, is represented, essentially, by amounts related to social security contributions levied on billing, pursuant to Article 22-A of the Law No. 8,212/91, whose constitutionality is being challenged in court. Judicial deposits are made monthly. </span></p>
</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top"><br/></td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The provisioned amounts relating to tax assessments issued against us by the tax authorities related to several types of ICMS credits, including: (a) an assessment notice related to ICMS payments for raw material purchases which are considered for &#8220;use and consumption&#8221; and therefore, according to the tax authorities, are not eligible for compensation; (b) an assessment, as sole obligor, for allegedly disregarding withholding obligations of ICMS taxes in relation to a tolling agreement, arising from an agricultural partnership between the Company&#8217;s sugarcane plants and Central Paulista Ltda. A&#231;&#250;car e &#193;lcool; (c) an assessment notice related to ICMS payments related to the exportation of crystallized sugar not considered under tributary immunity; (d) assessment notice related to the ICMS under tributary substitution regime; and (e) ICMS assessment notice related to interstate operations taxed as internal transactions and, therefore, subject to a higher rate. No judicial deposits have been made in connection with these proceedings. These provisions amounted to R$93,700 as of December 31, 2020, and R$97,534 as of December 31, 2019.</span></p>
</td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top"><br/></td>
</tr>
<tr>
<td style="text-align: right; padding: 0px 1px; vertical-align: top; width: 8%;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 1%;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top; width: 91%;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IPI Selectivity proceedings, from November 1992 to December 1995, judged by the STF, using the General Repercussion method (RE No. 592,145, item 080), in the amount of R$39,407, with unfavorable scenario for the Company. </span></p>
</td>
</tr>
</tbody>
</table>
</div>

</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Civil, Environmental and Regulatory Proceedings&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries and jointly controlled entity are parties to a several numbers of civil legal claims related to (1) indemnity for material and moral damages; (2) termination or litigation of in relation to different kinds of agreements (3) public civil claims related to sugarcane stubble burning; (4) environmental matters; and (5) compliance with certain conduct adjustment agreement and other matters. Provisions for civil, regulatory and environmental claims as of December 31, 2021, amounted to R$585,034 and R$350,769 as of December 31, 2020. As of December 31, 2021, R$169,857 in judicial deposits were made for civil and environmental claims, and this figure was R$140,833 as of December 31, 2020. Cosan S.A., its subsidiaries and jointly controlled entities are also parties to a number of regulatory legal proceedings related to (1) collection of fines by the ANTT; (2) discussions on the tariff ceiling imposed by the ANTT; and (3) certain other matters.&#160;<br/></span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Labor claims</span></p>
<p style="margin: 0pt 0pt 10pt 75.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries are also parties to a number of labor claims filed by former employees and service providers challenging, among other matters, the payment of overtime, night shift premiums and risk premiums, the recognition of employment relationships and the reimbursement of discounts from payroll, such as social contribution and trade union charges. Additionally, we are involved in several labor administrative and judicial proceedings such as labor investigations and class actions filed by the labor prosecutor&#8217;s office regarding alleged non-compliance with certain labor regulations, including work and safety rules, labor conditions and work environment, and social assistance plans. Moreover, we entered into certain consent orders (<span style="font-style: italic;">Termos de Ajustamento de Conduta</span>) with Brazilian authorities and in the event, we fail to comply with such consent orders, we could be subject to fines.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Possible losses</span></span></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The principal proceedings for which we deem the risk of loss as possible are described below:</span></p>
<div id="t_ft_X8EHJ0N03K00000000000000000000b">
<table cellpadding="0" style="height: 87px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Tax </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,647,917 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 13,416,966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 1%;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Civil, environmental and regulatory </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,905,964 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,476,470 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Labor </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 859,830 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 942,352 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 22,413,711 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 19,835,788 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p style="margin: 0pt 0pt 0pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Tax</span></p>
<div id="t_ft_2ZFLMG3Q7K00000000000000000000b">
<table cellpadding="0" style="height: 207px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000; text-align: center;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 73%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Federal income taxes <sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,404,264 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,344,963 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ICMS &#8722; State VAT <sup>(ii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,877,144 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,042,710 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">PIS and COFINS &#8722; Revenue taxes <sup>(iii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,368,123 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,182,933 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IRRF &#8722; Withholding tax<sup> (iv)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,251,394 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,227,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Penalties related to tax positions <sup>(v)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 461,747 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 473,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IPI &#8722; Excise tax credit &#8722; NT <sup>(vi)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 492,025 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 455,121 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">MP 470 &#8722; Tax installments <sup>(vii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 398,184 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 357,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">INSS &#8722; Social security and other <sup>(viii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 180,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 226,807 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Compensation with IPI &#8722; IN 67/<span style="border-left: none; border-right: none;">98 <sup>(ix)</sup></span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 186,048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 183,585 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Goodwill </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 84,953 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Stock option <sup>(x)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 65,260 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 63,986 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign financial operation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 29,136 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Financial transactions tax on loan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,450 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14,886 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Capital gain<sup> (xi)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 29,516 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">IOF on Mutual <sup>(xii)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 136,286 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 788,943 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 729,141 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 12px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 14,647,917 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 12px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1px solid #000000; border-bottom: 2.8pt double #000000; height: 12px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 13,416,966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 12px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<div style="margin: 0 auto;">

<div id="t_ft_7D0JR9ESNK00000000000000000000b">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt; margin-left: 0.1px;">
<tbody>
<tr>
<td style="vertical-align: top; width: 8%; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; text-align: justify; width: 1%;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;" valign="top"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The Company and its subsidiaries have (a) assessment notices related to the disallowance of deductions from the amortization of goodwill expense; (b) The subsidiary&#160;</span>Comg&#225;s<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;was aware of the non-approval of tax debt offsetting carried out in 2015 and 2016, using credits arising from Corporate Income Taxes (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Imposto&#160;de&#160;Renda&#160;Pessoa&#160;Jur&#237;dica</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">&#160;</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#8220;IRPJ,&#8221; and Social Contribution on Net Profits (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Contribui&#231;&#227;o&#160;Social&#160;sobre&#160;o&#160;Lucro&#160;L&#237;quido</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;CSLL.&#8221; After administrative discussion, some of the declarations have already been definitively ratified by the Brazil Internal Revenue Service (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Receita&#160;Federal do&#160;Brasil</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">); (c) 50% isolated fine tax assessment notices resulting from non-approval. compensation made through PER/DCOMP; and (d) questioning the limitations included in article 74, IX, of Law No. 9,430/96, by article 6 of Law No. 13,670/2018, which restricted the right of companies to proceed with the settlement of the monthly anticipations of IRPJ and CSLL calculated by estimate, through compensation.</span></span></td>
</tr>
<tr>
<td style="vertical-align: top; width: 8%; text-align: right;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 1%;"><br/></td>
<td style="vertical-align: top; text-align: justify; width: 91%;"><br/></td>
</tr>
<tr>
<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ii)</span></td>
<td style="vertical-align: top; text-align: justify;"><br/></td>
<td style="vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 10pt;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The legal claims related to the ICMS essentially involve: (a) Infraction Notices drawn up by the&#160;</span>S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo State Finance Department (</span>Secretaria<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;da&#160;</span>Fazenda<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;de&#160;</span>S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo), against&#160;</span>Rumo<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Paulista<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, with the reporting of infractions for alleged lack collection of ICMS in the provision of rail transport services for export; improper credit of ICMS for alleged bookkeeping in the Book of Entries of amounts higher than those found in the Tax Books; improper credit of ICMS for acquisitions supposedly classified as use and consumption. Fines of 50% of the tax amount and 100% of the amount of credit considered undue were also included. (b) state tax authorities assessed the charges for non-taxation by ICMS on the invoices for the provision of rail freight services for export. All assessments were challenged, since there is a favorable position for taxpayers consolidated in the higher courts, based on the Federal Constitution and Complementary Law 87/1996 (c) the Treasury of the State of&#160;</span>Mato<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Grosso<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;drew up several Terms of Seizure and Deposit (</span>TADs<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">) in order to collect ICMS and a 50% fine on the value of the fined operations, under the mistaken understanding that the goods exit operations destined for export would be cancelled with the&#160;</span>DACTEs<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;(Auxiliary Document of Electronic Transport Knowledge), with the supposed characterization of untrue documentation, under the terms of articles 35-A and 35-B of State Law 7098/98. The Company and its subsidiaries contest challenge the assessments and demonstrate to the Tax Authorities that the goods transported were duly covered by suitable tax documentation; (d) collection of ICMS, for the years 2018 and 2019, in the acquisition of wagons as a result of the alleged non-exemption provided for by the Tax System for Incentives to the Modernization and Expansion of the Port Structure - REPORTO by the&#160;</span>S&#227;o<span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Paulo tax authorities.</span></span></td>
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<td style="vertical-align: top; width: 8%; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iii)</span></td>
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<td style="vertical-align: top; text-align: justify; width: 91%;" valign="top"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The administrative demands for PIS and COFINS in&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;subsidiary are substantially related to the disallowance of PIS and COFINS credits by the non-cumulative system related to the following items: a) credits launched out of time unaccompanied by prior rectification of tax returns; b) claims on expenses arising from mutual traffic contracts; c) credits related to expenses with services classified as inputs in the activity carried out by the Company that supposedly were not proven during the Inspection; d) credits on expenses with transportation of employees; e) credits related to electricity expenses; f) credits on expenses with machinery rentals and rentals that were not proven in the course of the Inspection; g) credits on expenses on the acquisition of machinery, equipment and other assets incorporated into the subsidiary's fixed assets; and (h) and isolated fine corresponding to 50% of the value of the credits.</span></span></td>
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<td style="vertical-align: top; text-align: right;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(iv)</span></td>
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<td style="vertical-align: top; text-align: justify;" valign="top"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The legal claims related to the IRRF essentially involve: (a) The subsidiary CLE had an assessment notice drawn up for the collection of income tax withheld at source, as a tax officer, due to an alleged capital gain resulting from the acquisition of assets from companies located abroad. (b)&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Paulista<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;had part of its IRPJ credit balance offset partially disallowed by the Federal Revenue Service (</span>Receita<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Federal do&#160;</span>Brasil<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">) based on the argument that the Company would not be entitled to IRRF offset on swap transactions.&#160;</span></span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(v)</span></td>
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<td style="vertical-align: top; text-align: justify;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Infraction Notices drawn up in the face of&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;to demand differences in IRPJ, CSLL, PIS and COFINS, related to the calendar years 2005 to 2008, due to the following alleged a) undue deduction of the Real Profit and the Calculation Base of CSLL of financial expenses arising from loans entered into with financial institutions abroad, b) undue exclusion of&#160;</span>CSLL's<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Real Profit and Calculation Base of financial income from securities issued by the Government of Austria and the Government of Spain, c) no inclusion, in the Real Profit and in the CSLL Calculation Base, of the gains earned in swap operations, and no taxation of the financial income resulting from such contracts by PIS and COFINS, d) undue exclusion of the Real Profit and the Calculation Base of CSLL, carried out as PIS and COFINS credits, e) undue exclusion of Real Profit and the CSLL Calculation Base carried out as deferred CSLL. f) undue exclusion of taxable income and the CSLL calculation basis made as deferred CSLL; and Violation g) insufficient payment of advances of IRPJ and CSLL, which generated the application of an isolated fine at the percentage of 50%, together with the fines of 75%. In 2019, we had definitive success regarding the completeness of the infractions &#8220;a&#8221;, &#8220;b&#8221;, &#8220;d&#8221;, &#8220;e&#8221; and &#8220;f&#8221;, as well as part of the infraction &#8220;c&#8221;, to recognize the possibility of exclusion of the actual profit and the CSLL calculation basis of the revenues arising from the Austrian public debt securities acquired on July 24, 2006 and, as a consequence, of part of the infraction &#8220;g&#8221;, in the extension of the partial cancellation of the item &#8220;c&#8221;. Contingency adjusted for ultimate success. The remainder of item &#8220;g&#8221; remains under administrative discussion. The discussion on the remainder of item &#8220;c&#8221; ended at the administrative level and continued at the judicial level.</span></span></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><span class="pageno" style="font-size: 10pt;">F-105</span></td>
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<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<div id="t_ft_RJUF7H6U7K00000000000000000000b">
<table style="width: 100%; font-family: 'times new roman'; font-size: 10pt;">
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<td style="vertical-align: top; width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vi)</span></td>
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<td style="vertical-align: top; text-align: justify; width: 91%;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax claims filed by the Brazilian federal government regarding the tax on industrialized products (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Imposto&#160;sobre&#160;produtos&#160;industrializados</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;IPI,&#8221; mainly related to: (i) allegedly due as a result of the removal of certain types of sugar from 1995 to 1997 and from 1992 to 1997. Three of the lawsuits are pending judgment by the lower court, while two of the lawsuits are pending judgment of the appeal filed by the attorney general against the lower court decision rendered in favor of the Company. In addition, to these tax claims, the Company is also a party to other proceedings regarding the IPI imposed on sugar products of certain polarity levels (sugar products with a polarity level of at least 99.5&#186; are exempt from IPI); and (ii) CLE has a requirement of IPI at restricting its constitutional immunity from oil lubricant derived.</span></span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(vii)</span></td>
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<td style="vertical-align: top; text-align: justify;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Brazilian federal tax authorities have partially rejected the Company&#8217;s application for payment of federal tax debts with&#160;</span>carryforward<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;losses, pursuant to the payment plan provided for by provisional measure No. 470/2009. The Brazilian federal tax authorities&#8217; notice in this respect stated that Company&#8217;s&#160;</span>carryforward<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;losses are not sufficient to offset the relevant debts.</span></span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(viii)</span></td>
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<td style="vertical-align: top; text-align: justify;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The legal proceeding related to INSS payment involve the following: (a) the legality and constitutionality questioning Normative Instruction MPS/SRP N&#186; 03/2005, which restricted the constitutional immunity over social contributions on export revenues through direct sales, consistent with the manner exports made via trading companies are now taxed; (b) assessment of National Rural Apprenticeship Service (</span><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: italic;">Servi&#231;o&#160;Nacional&#160;de&#160;Aprendizagem&#160;Rural</span><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">), or &#8220;SENAR,&#8221; social contribution on direct and indirect exports, in which the tax authorities disregard the right to constitutional immunity and (c) requirement of social security contribution on stock purchase through stock option plans.</span></span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(ix)</span></td>
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<td style="vertical-align: top; text-align: justify;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The lawsuits related to the IPI essentially involve: (a) Tax requirement on sugar sales subject to zero rate, due to their polarization degree greater than 99.5&#186; or without IPI, under the terms of the Normative Instruction 67/98 and (b) in the subsidiary CLE tax requirement, on the output of lubricating grease, of a product immune to the collection of IPI, as it is derived from oil.</span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(x)</span></td>
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<td style="vertical-align: top; text-align: justify;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax assessments issued against the&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;S.A. for the collection of social security contributions (20% on the amount paid) of amounts related to the stock option plan granted to employees, managers and third parties. The main reason for the assessment is the alleged remunerative nature.</span></span></td>
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<td style="vertical-align: top; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(xi)</span></td>
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<td style="vertical-align: top; text-align: justify;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Tax assessment notices issued by the Federal Revenue Service (</span>Receita<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;Federal do&#160;</span>Brasil<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">) in 2011 and 2013 and 2019 against&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;related to a) disallowance of goodwill expense based on future profitability, as well as financial expenses; b) non-taxation of supposed capital gain on the sale of equity interest in a Company of the same economic group; and c) supposed capital gain on the incorporation of shares in companies of the same economic group. In 2019, the subsidiary had definitive success in terms of reducing the capital gain launch base. Contingency adjusted for ultimate success.</span></span></td>
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<td class="pgno" style="padding: 0px; text-align: center;"><span class="pageno" style="font-size: 10pt;">F-106</span></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="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><span style="font-size: 10pt; font-family: 'times new roman', times;"><b><span>Notes to the consolidated financial statements</span></b></span></p>
<p style="text-align: right; text-indent: 0in; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: Arial, 'sans-serif';"><i><span style="font-size: 12.0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">(In thousands of Brazilian reais - R$, unless otherwise stated)</span></span></i></p>
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<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
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<td style="vertical-align: top; width: 8%; text-align: right;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(xii)</span></td>
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<td style="vertical-align: top; text-align: justify; width: 91%;"><span style="font-size: 10pt;"><span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">The lawsuits related to the IOF essentially involve a) The Federal Treasury intends to enforce the levy of IOF on the current accounts maintained by the parent Company for&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and its subsidiaries (most substantial part of the assessment). In the understanding of the tax authorities, the use of an accounting item as advances for expenses to related companies, without a formal loan agreement, characterizes the existence of a current account, and the IOF due must be determined according to the rules specific to revolving credit operations. The tax assessment notices are still being questioned at the administrative level; b) Tax Assessment Notice issued by the Federal Tax Authorities against&#160;</span>Rumo<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Norte<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;for alleged failure to pay IOF in the period 2017 and 2018, relating to the collection of alleged financial transactions between the group companies, essentially on the remittance of amounts arising from mutual traffic between&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Norte<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and&#160;</span>Malha<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;</span>Paulista<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">, contracts with&#160;</span>Ra&#237;zen<span 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: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160;and other amounts listed in other accounting accounts.</span></span></td>
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<div style="margin: 0 auto;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span></span>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has not identified effects of IFRIC 23 - <span style="font-style: italic;">Uncertainty over Income Tax Treatments</span> that could significantly affect the Company&#8217;s consolidated financial statements.</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax contingencies refer to tax assessments mainly at the Federal level assessed as possible losses by lawyers and management and, therefore, without a provision being recorded.</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Civil, environment and regulatory</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries are parties to a several numbers of civil legal claims related to (1) indemnity for loss and moral damages; (2) termination or litigation of in relation to different kinds of agreements; (3) environmental matters; and (4) compliance with certain conduct adjustment agreement and other matters</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Labor&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">One of Rumo&#8217;s subsidiaries, Rumo Malha Paulista is currently a party to a public civil action before the labor courts. This proceeding originated in an inspection of the company MS Teixeira, which was hired by Prumo Engenharia Ltda. (&#8220;Prumo Engenharia&#8221;), Rumo&#8217;s subcontractor. The inspecting authority alleged that workers for MS Teixeira were working in conditions that were degrading and analogous to indentured servitude. Prumo Engenharia fully assumed the responsibility for the condition of the employees, including labor and contractual liabilities and all losses resulting from the alleged unlawful working conditions put in place by its subcontractors, and the dismissal agreements of such employees were approved by the Brazilian Ministry of Labor without any participation by Rumo. In addition, a criminal investigation against Rumo was filed, which was later dismissed with the acquittal of Malha Paulista. Notwithstanding the foregoing, the Labor Prosecutor&#8217;s Office filed a public civil action solely against Rumo. Rumo was ordered (in both the first instance and on initial appeal) to comply with several obligations relating to workplace conditions, and pay collective moral damages, as well as fines of R$15,000. However, any potential future loss on this lawsuit cannot result in the inclusion of Rumo Malha Paulista on the list maintained by the Brazilian Ministry of Labor of employers who engage in labor irregularities. Rumo appealed to the Regional Appeal Court, but the appeal was dismissed. Rumo appealed again to the Superior Labor Court and this appeal is currently pending.&#160; &#160;&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;</span><span style="font-weight: bold;">Contingent assets</span></span></p>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> On March 15, 2017, in case that sets a judicial precedent, the STF granted Extraordinary Appeal No. 574,706 against a decision that required the inclusion of the tax on the circulation of goods and transportation and communication services, a state sales tax (Imposto sobre Circula&#231;&#227;o de Mercadorias e Servi&#231;os), or &#8220;ICMS,&#8221; in the calculation of the tax base of employees&#8217; profit participation program (Programa de Integra&#231;&#227;o Social), or &#8220;PIS,&#8221; and social contribution for social security financing (Contribui&#231;&#227;o para o Financiamento da Seguridade Social), or &#8220;COFINS.&#8221; </span></p>
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<td style="padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There is still an approximate amount of R$932,000 of Comg&#225;s, related to exclusion of ICMS from PIS and COFINS tax bases, arising prior to the STF ruling and not considered res judicata, which remains considered as a contingent asset.</span></p>
</td>
</tr>
<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
</tr>
<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top">(ii)</td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> On December 6, 2019, ARSESP published Resolution No. 933, which approved the amount of R$683,358 plus monetary adjustment since April 2018, as a result of the Third Ordinary Tariff Review, to be applied to the value of the assets returned by Comg&#225;s, upon termination of the concession, or to any amounts payable by Comg&#225;s if the concession is renewed, or to any amounts payable in connection with any renewal of the concession agreement, as it comes to be defined by ARSESP, according to Resolution No. 995 of May 27, 2020. With the publication of the aforementioned resolution, there are no more ongoing discussions regarding tariffs related to previous periods with ARSESP. The amount indicated in Resolution No. 933 was not recognized in our financial statements because it does not comply with accounting standards. </span></p>
</td>
</tr>
<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
</tr>
<tr>
<td style="padding: 0px 1px; vertical-align: top; text-align: right;" valign="top">(iii)</td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top"><br/></td>
<td style="padding: 0px 1px; vertical-align: top;" valign="top">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> The Company has an indemnity proceeding due to the economic and financial imbalance of the Concession Agreement, with respect to tariff reviews. The right to recovery is the result of the wrong criteria followed for the tariff review. The updated case amount is R$658,096 as an economic-financial rebalancing of Comg&#225;s.&#160;</span></p>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487348648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Shareholders' equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory', window );">Shareholders' equity</a></td>
<td class="text">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">17</span>.&#160; &#160; Shareholders&#8217; equity</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;</span><span style="font-weight: bold;">Share capital</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity. Income taxes relating to transaction costs of an equity transaction are accounted for in accordance with policy described in Note 16.</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subscribed capital is R$6,365,853 as of December 31, 2021, and R$5,727,478 as of December 31, 2020, fully paid in, is represented by 1,874,070,932common shares, outstanding and without par value. According to the bylaws, the authorized capital may be increased up to the limit of R$7,000,000.</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><br/></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 30, 2021, share split was approved at Annual and Extraordinary&#160;General Meeting in the proportion of <span style="-sec-ix-hidden:Tag7157"><span style="border-left: none; border-right: none;">1</span>:<span style="border-left: none; border-right: none;">4</span></span>, All share information prior to April 30, 2021 in the consolidated financial is presented on a split basis.<br/></span></p>
<div style="margin: 0 auto;">

</div>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>

<p style="text-align: justify; margin: 0 0 10pt 57pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">At December 31, 2021, share capital is composed of the following:&#160;</span></p>
<div style="margin: 0 auto;">
<div id="t_ft_ZR9P4MH39C00000000000000000000b">
<table cellpadding="0" style="height: 90px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Shareholders </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Common shares </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Controlling group </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 672,762,132 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 35.90% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Board of directors and executive officers </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 25,285,335 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1.35% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Free float </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,170,582,693 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 1px solid #000000; background-color: #cceeff; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 62.46% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total of shares </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,868,630,160 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; border-bottom: 2.8pt double #000000; height: 20px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 99.71% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>
<div id="t_ft_XAGISWC8PS00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 35px;" width="100%">
<tbody>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px; width: 73%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Treasury shares </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,440,772 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; height: 17px; border-bottom: 1px solid #000000; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.29% </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; background-color: #cceeff; width: 1%; height: 17px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total of shares </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,874,070,932 </span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: middle; height: 18px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 100.00%</span></p>
</td>
<td style="padding: 0px; vertical-align: middle; height: 18px;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>

</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">&#160;b)</span><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Treasury shares</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Treasury shares represent the stocks that are repurchased by the company and are available for specific and limited intents. For accounting purposes, Cosan hold the shares required to meet the future employee share-based payment plans and the volume is treated in the same manner as treasury shares.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2021, the Company had 5,440,772 shares in treasury, whose market price was R$21,69. This reduction refers to: (i) the cancellations of 10,000,000 shares, equivalent to R$496,916 resulting from the corporate restructuring process, effective on February 2, 2021, (ii) split of shares issued by the Company on April 30, 2021, of <span style="-sec-ix-hidden:Tag7156"><span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">1</span></span>:<span style="border-left: none; border-right: none;"><span style="border-left: none; border-right: none;">4</span></span></span>, (iii) repurchase of 60,000 shares equivalent to R$4,778, and (iv) delivery of 1,393,156 shares to members of the share-based compensation plans and (v) sale of 363,263 equivalent to R$4,603 to members of the share-based criteria plans. The amount of cash received of R$8,428 from the executives generated a gain of R$3,825 in the capital reserve item. </span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On March 26, 2021, the Company approved the common share buyback program, with a maximum of 68,000,000 shares, representing 5.89% of the total shares available on the market, with the deadline until September 25, 2022, for the purpose of keeping in treasury, cancellation or sale.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)<span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;&#160;</span>Statutory reserve - special reserve</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Accounting policy</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Its purpose is to reinforce working capital, finance the maintenance, expansion and development of activities that make up the Company's corporate purpose.&#160;<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)<span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">&#160; &#160; &#160;&#160;</span>Legal Reserve</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold; font-style: italic;">Accounting policy</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">It is constituted through the appropriation of 5% of the net income for the year up to the limit of 20% of the capital stock, pursuant to Law 6,404.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">e)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Dividends</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company's bylaws, at the end of the year, are intended for the minimum mandatory dividend corresponding to 25% of annual net income adjusted by the equity variation of reserves, pursuant to corporate law.&#160;</span></p>
<p style="margin: 0pt 0pt 0pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Dividends, allocation of net income for the year and excess profit reserves, as determined in art. 199 of the Brazilian Corporation Law will be the subject of deliberations at the next Annual Shareholders' Meeting.</span></p>

<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">f)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Other comprehensive (loss) income</span></span></p>
</div>
<div style="margin: 0 auto;">
<div id="t_ft_88MFXJYQA800000000000000000000b">
<table cellpadding="0" style="height: 145px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comprehensive (loss) income </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,316,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (601,415 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,917,917 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 89,848 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 96,362 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (217,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 41,832 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (175,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain on measurement of financial instrument </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 2,269 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,824 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; height: 10px; border-bottom: 2.8pt double #000000; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,511,204 </span></p>
</td>
<td style="padding: 0px 0px 2px; height: 10px; vertical-align: bottom;" valign="bottom"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 2.8pt double #000000; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 914,332 </span></p>
</td>
<td style="padding: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; vertical-align: bottom;" valign="bottom"><br/></td>
<td style="padding: 0px; height: 10px; border-bottom: 2.8pt double #000000; vertical-align: bottom;" valign="bottom">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (596,872 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,524,027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,002,418 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (521,609 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(88,086 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(75,263 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
<p><br/></p>
<div id="t_ft_35IWVDARJ400000000000000000000b">
<table cellpadding="0" style="height: 147px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comprehensive (loss) income </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on cash flow hedge </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (790,403 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (526,099 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 12%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,316,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; width: 0.5%; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign currency translation differences </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 49,281 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (42,767 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,514 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss on defined benefit plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (180,958 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (36,813 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (217,771 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;">)</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain on measurement of financial instrument&#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 15,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,277 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 278 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom: 1pt solid #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,555 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 21px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (905,803 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (605,401 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (1,511,204 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Attributable to: </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Owners of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (805,471 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (718,556 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (1,524,027 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;">)</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 19px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Non-controlling interests </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (100,332 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 113,155 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 12,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>

</div>
<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share capital, reserves and other equity interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487328584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><span style="border-left: none; border-right: none;">18</span>.&#160; &#160; Earnings per share</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">a) Basic earnings per share</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Basic earnings per share are calculated by dividing:</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">i. the profit attributable to the owners of the company, excluding any equity service costs other than common shares; and&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ii. by the weighted average number of common shares outstanding during the year, adjusted by the bonus elements in common shares issued during the period and excluding treasury shares, if applicable.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">b) Diluted earnings per share</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Diluted earnings per share adjust the amounts used in determining basic earnings per share to take into account:</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">i. the effect after tax on interest income and other financing costs associated with potential diluting common shares; and</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">ii. the weighted average number of additional common shares that would be outstanding, assuming conversion of all potential dilutive common shares.&#160;</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Basic earnings per share are calculated by dividing net earnings by the weighted average number of common shares outstanding during the period. The diluted earnings per share are calculated by adjusting the earnings and the number of shares by the impacts of potentially dilutive instruments.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For the purpose of calculating basic and dilutive earnings per share for all periods presented, the number of ordinary shares outstanding of Cosan S.A., as a result of the corporate reorganization, was reflected retroactively as of January 1, 2019.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 30, 2021, the <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Annual and Extraordinary General Meeting approved a share&#160;</span>split in the proportion of <span style="-sec-ix-hidden:Tag7153">1:4</span>. Consequently, the effect of the share split was retroactively reflected in all periods presented.&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth the calculation of earnings per share (in thousands of Brazilian <span style="font-style: italic;">reais</span>, except per share amounts):&#160;&#160;</span></p>
<div id="t_ft_81DZ6KXG5C00000000000000000000b">
<table cellpadding="0" style="height: 466px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 (restated)</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 (restated)</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="vertical-align: top; height: 10px;"/>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 64%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit attributable to the holders of the </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 10%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="vertical-align: top; height: 17px; width: 1%; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Company&#8217;s common shares used in the </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> calculation of basic earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,312,140 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 859,482 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,316,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from continuing operations attributable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> to the ordinary equity holders of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> used in calculating basic earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,312,140 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 859,482 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,305,320 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dilutive effect of the share-based plan of subsidiaries </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,249 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,739 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,714 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit attributable to the holders of the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Company&#8217;s common shares used in the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> calculation of diluted earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,306,891 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 853,743 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,310,627 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Profit from continuing operations attributable </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> to the ordinary equity holders of the Company </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> used in calculating diluted earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,306,891 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 853,743 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,299,606 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Weighted average number of outstanding </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Shares of Cosan&#160;S.A. (in thousands of shares) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,834,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,834,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,834,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Dilutive effect of the share-based plan </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,687 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,741 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,530 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 21px;"><br/></td>
<td style="vertical-align: top; height: 21px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Dilutive </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,839,220 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,841,274 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,843,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Earnings per share </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$3.4407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.4685 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.7175 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diluted </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$3.4291 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.4637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.7111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Earnings per share from continuing operations </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Basic </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$3.4407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.4685 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.7115 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Diluted </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$3.4291 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.4637 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> R$0.7051 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
</tbody>
</table>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Dilutive instruments</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company&#8217;s subsidiaries have two categories of potential dilutive effects: share options and put options. For the share options, a calculation is done to determine the effect of the dilution in the profit attributable to shareholders of the parent due the exercise of the share options at subsidiaries. For the put option, is assumed to have been converted into ordinary shares, and the profit attributable to shareholders of the parent is adjusted.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Anti-dilutive instruments</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For the year ended December 31, 2021, 45,765,000 shares related to the Cosan&#160;S.A. share buyback plan were not considered in the diluted earnings per share analysis, as they would have an anti-dilutive effect.&#160;</span></p>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487423592">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net sales<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">19.&#160; &#160; Net sales</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenues from the following main sources:</span></p>
<p style="margin: 0pt 0pt 10pt 35.85pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Sale of products</span></span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">Company</span>&#160;operates in the production and distribution of lubricants including the brands Mobil and Comma. Products are sold in contracts identified with individual customers and in sets, as a package of goods or services.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes sales revenues upon delivery to the customer as long as revenue and costs can be measured reliably, receipt of the consideration is probable and there is no continuous involvement of management with the products. Delivery is considered to be the moment when the customer accepts the goods, and the risks and benefits related to the property are transferred.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Some lubricant sales contracts cannot be purchased separately from a package of services. However, the goods and services are clearly distinct in the contracts. This sales modality represents two separate performance obligations and therefore revenue is recognized for each of these performance obligations when control of the respective goods and services is transferred to the customer. The transaction price is allocated to different performance obligations based on the independent selling price, in which revenues are identified, measured and recorded separately. Trade incentives, including cash incentives, discounts and volume rebates, and free or discounted goods or services, are accounted for as a reduction of revenue.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Discounts, rebates, credits, price concessions, performance bonuses and similar incentives are treated as variable consideration and included in the transaction price at the company&#8217;s best estimate and is included in revenue to the extent that it is highly probable that there will be no significant reversal of the cumulative amount of revenue when any pricing uncertainty is resolved.<br/></span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Logistics services rendered</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenues from the provision of services are recognized when the entity transfers to the counterpart the significant risks and benefits inherent to the provision of services, when it is probable that the economic benefits associated with the transaction will flow to the Company, as well as when its related value and incurred costs can be reliably measured.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Service prices are fixed based on service orders or contracts. The Company&#8217;s revenue is basically comprised of rail freight, road freight, container transport and port elevation services, which is why the above criteria are normally met to the extent that the logistics service is provided. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Deferred Revenue</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Consists in advances received from clients seeking investment in fixed assets in return for a rail service contract requiring future performance of services by the Company. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">d)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Natural gas distribution</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is measured based on the consideration specified in a contract with a customer. Revenues from natural gas sales are recorded based on the volume of natural gas sold and its respective tariffs regulated by ARSESP, which provides for <span style="-sec-ix-hidden:Tag7199">five</span>-year tariff cycles, with annual inflation adjustment. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is recognized when the gas is delivered to the delivery points (predetermined in the agreements with each customer) i.e., performance obligation on delivery of gas is satisfied. Customers obtain control of gas when it&#8217;s transferred through pipelines to the customer. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with contractual terms, late payment fees and interests are calculated based on outstanding balances as of invoices original due dates. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The transaction price does not have variable consideration. </span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenues from the following main sources:<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">i.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Billed revenue</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company provides gas distribution services through the subsidiary Comg&#225;s. The fair value and selling prices of individual services are broadly similar.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Gas distribution revenue is recognized when its value can be measured reliably, being recognized in the income statement in the same period in which the volumes are delivered to customers based on the monthly measurements made.</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">ii.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Unbilled revenue</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Unbilled revenue refers to the portion of gas supplied for which metering and billing to customers have not yet occurred. This amount is estimated based on the period between measurement and the last day of the month.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The actual volume billed may be different from estimates. The Company believes that, based on its historical experience, the unbilled estimated amount will not significantly differ from actual amounts.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">iii.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Infrastructure concessions</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The construction of the infrastructure necessary for gas distribution is considered a construction service rendered to the ARSESP, and the related revenue is recognized over time based on the cost incurred method.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Construction costs are recognized by reference to the stage of completion of the construction activity at the end of the reporting year and are included in cost of sales.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Advances received are included in contract liabilities.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">iv.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span><span style="font-weight: bold;">Services rendered</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is recognized over time as services are provided. The stage of completion to determine the amount of revenue to be recognized is evaluated based on assessments of progress of work performed.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">If services under a single contract occur in different periods, consideration is allocated based on their individual sales prices. The individual selling price is determined on the basis of the list prices at which the Company sells the services in separate transactions.</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">e)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; <span style="font-weight: bold;">Electricity</span></span><span style="font-weight: bold;">&#160;trading</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenue from electricity supply to customers and wholesalers at fair value of the related consideration, for delivery of electricity in a given period. The volume of electric energy delivered to buyer is determined on a monthly basis. Customers obtain control of electricity from the moment they consume it. Invoices are issued monthly and are usually paid within 30 days from their issue date..</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue from energy trading is recorded based on bilateral contracts signed with market agents and duly registered with the Electric Energy Trading Chamber (C&#226;mara de Comercializa&#231;&#227;o de Energia El&#233;trica), or &#8220;CCEE.&#8221;</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue is recognized based on the energy sold and at prices specified under the supply to customers and <span>wholesalers&#8217;</span> contracts. The Company&#160;may sell the energy produced in two environments: (i) in the Free Contracting Environment (Ambiente de Contrata&#231;&#227;o Livre), or &#8220;ACL,&#8221; where energy trading takes place through free negotiation of prices and conditions between the parties, through bilateral contracts; and (ii) in the Regulated Contracting Environment (Ambiente de Contrata&#231;&#227;o Regulada), or &#8220;ACR,&#8221; where <span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">electricity</span> is sold to distribution agents.</span></p>
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<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 28.96pt; padding-left: 24.89pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Short-term market</span></li>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognizes revenue at the fair value of the consideration receivable when transactions in the short-term market occur. The price of energy in these operations is characterized by the link with the Differences Settlement Price (Pre&#231;o de Liquida&#231;&#227;o de Diferen&#231;as), or &#8220;PLD.&#8221;</span></p>
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<li style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold; margin: 0pt 0pt 10pt 32.02pt; padding-left: 21.83pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Trading operations</span></li>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Energy trading operations are carried out in an active market and, for accounting measurement purposes, they meet the definition of financial instruments at fair value.</span></p>
<p style="margin: 7pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Compass Trading recognizes revenue when the energy is delivered to customers at fair value of the consideration. In addition, unrealized net gains resulting from mark-to-market - difference between contracted and market prices - from open net contracted operations on the date of the consolidated financial statements are recognized in revenue.&#160;&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">f)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Lease revenues</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Rental income mainly corresponds to land leased by Radar and is recognized on a straight-line basis over the term of each contract, to the extent that the contracts transfer to customers the right to use the assets for a period in exchange for consideration, which can be measured reliably.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">g)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160;&#160; </span><span style="font-weight: bold;">Sale of investment properties</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Revenue comprises the fair value of the consideration received or receivable for the disposal of investment properties in the ordinary course of the subsidiary's activities. Revenues are presented net of taxes, returns, rebates and discounts, and in the consolidated financial statements after eliminating sales within the subsidiary. Revenue is recognized when the subsidiary fulfills all obligations and promises identified in the contract for the transfer of goods to the customer.&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following is an analysis of the Company&#8217;s net sales for the year:</span></p>
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</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding-left: 0px; padding-right: 0px; vertical-align: bottom; height: 10px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 59%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross revenue from sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; margin: 0px; text-indent: 0px; width: 0.5%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> of products and services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30,317,755 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,040,536 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 23,703,245 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,020,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 885,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 813,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Indirect taxes and deductions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (5,472,930 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (4,488,331 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (3,905,177 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 25,865,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 20,437,835 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 20,611,409 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; margin: 0px; text-indent: 0px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In the following table, revenue is disaggregated by products and service lines and timing of revenue recognition:&#160;</span></p>
<div id="t_ft_UJS2MHL0LS00000000000000000000b">
<table cellpadding="0" style="height: 161px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At a point in time </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 12px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; width: 59%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas distribution </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 10,447,312 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,372,957 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 1%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 12%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8,636,221 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.5%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; width: 0.5%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity trading </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 620,495 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 775,479 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Lubricants and base oil </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5,546,093 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4,283,704 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3,916,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 277,571 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 59,923 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 64,682 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 16,891,471 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 12,492,063 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 12,617,407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Over time </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railroad transportation services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,103,706 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,680,307 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6,548,109 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Port elevation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 335,965 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 285,852 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 351,563 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction revenue </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,020,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 885,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 813,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Services rendered </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 566,364 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 131,871 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 317,960 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 9,026,211 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 7,983,660 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 8,030,973 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Elimination </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (52,681 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (37,888 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (36,971 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 25,865,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 20,437,835 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 20,611,409 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>
</div>

</div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487350328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Costs and expenses by nature<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="text">
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">20. Costs and expenses by nature</span></p>
<p style="margin: 0pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: 'times new roman', times;">The costs and expenses are presented in the statement of profit and loss by function. The&#160;</span><span style="font-family: 'times new roman', times;">reconciliation of income by nature/purpose is as follows:&#160;&#160;</span></span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<div id="t_ft_53Z911AL7K00000000000000000000b">
<table cellpadding="0" style="height: 323px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 9pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020&#160;(restated)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: center; border-bottom: 1px solid #000000;">
<p style="border-bottom: 0.5pt solid #000000; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 (restated)</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 59%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Commodity cost (natural gas) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> (6,137,104 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> (3,867,044 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 12%;">
<p style="margin: 0pt; text-align: right;"><span> (4,885,497 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; width: 1%;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Raw materials </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (4,631,436 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (3,289,845 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (3,231,169 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Personnel expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,997,881 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,533,429 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,244,252 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation and amortization </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (2,504,384 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (2,340,854 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (2,287,877 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Railroad transportation and port elevation expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,128,043 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,897,975 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,867,196 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Electricity purchased for resale&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (968,503 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (927,913 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Construction cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,020,176 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (885,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (813,341 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Natural gas transportation cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (1,074,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (753,603 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (703,500 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other transport </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (25,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (23,638 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (23,387 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (26,168 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Expenses with third-party services </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (751,486 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (897,789 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (731,869 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (460,161 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (22,160,024 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (17,251,549 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-top-width: 1pt; border-top-style: solid; border-top-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;">
<p style="margin: 0pt; text-align: right;"><span> (16,519,161 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 19px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (19,864,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (14,999,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (14,616,985 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (723,419 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (661,907 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (666,114 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,572,357 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,589,819 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (1,236,062 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (22,160,024 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (17,251,549 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span> (16,519,161 </span></p>
</td>
<td style="padding: 0px 0px 2px; vertical-align: bottom; height: 10px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<DOCUMENT>
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<head>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964491378264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other income (expenses), net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory', window );">Other income (expenses), net</a></td>
<td class="text">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">21. Other income (expenses), net</span></p>
<p><br/></p>
<div id="t_ft_YSA58L26OG00000000000000000000b">

<div style="margin: 0 auto;">
<div>
<table cellpadding="0" style="height: 248px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 59%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Settlement of disputes in the renewal process<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9,242 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 278,496 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 12%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; height: 22px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Tax credits<span style="vertical-align: super; font-size: 8pt;">(i)</span></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 287,049 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 132,399 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 165,398 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain (loss) on disposal of non-current assets and intangibles&#160;</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7,295 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30,610 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (35,274 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain from bargain purchase (Note 9.3) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 416,268 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Reimbursement of natural gas loss in the process </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 26,945 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gain on compensation claims </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 50,284 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net effect of legal proceedings </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (263,945 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (32,704 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (105,153 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Depreciation of right-of-use </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (100,593 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (40,545 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 21px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disposal of credit rights </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (68,311 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 410,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Change in fair value of investment properties (note 11.5) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 17,116 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Loss on impairment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (143,984 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (90,425 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 54,011 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (40,024 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 382,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 176,869 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 2.8pt double #000000; border-top: 1pt solid #000000; height: 20px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 404,686 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
</div>
</div>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<div style="margin: 0 auto;">
<div id="t_ft_0YGZHFYMJ400000000000000000000b">
<table style="width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; height: 10px;">
<tbody>
<tr style="height: 10px;">
<td style="text-align: right; vertical-align: top; width: 8%; height: 10px;" valign="top"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span></td>
<td style="vertical-align: top; width: 1%; height: 10px;" valign="top"><br/></td>
<td style="text-align: justify; vertical-align: top; width: 91%; height: 10px;" valign="top"><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">Effect referring to the reversal of lease liabilities in dispute registered, related to labor credits from lawsuits for return, of subsidiary&#160;Rumo&#160;in the amount of R$</span><span style="border-left: none; border-right: none;">52,963</span><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">; and waiver of administrative and regulatory proceedings contemplated in the&#160;</span><span style="border-left: none; border-right: none;">7</span><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: -24px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">th Addendum to the Concession Agreement Renewal of the concession agreement of subsidiary&#160;Comg&#225;s&#160;in the amount of (R$</span><span style="border-left: none; border-right: none;">43,721</span><span style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; border-right: none; border-left: none;">).</span></td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other operating income or expense. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487366696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Finance results<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<div style="margin: 0 auto;">
<p><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span style="border-left: none; border-right: none;">22</span>. Finance results</span></p>
<p style="margin: 10pt 0pt 10pt 17.85pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Finance income comprises interest income on funds invested, dividend income, fair value gains on financial assets at fair value through profit or loss, gains on the remeasurement to fair value of any pre-existing interest in an acquire in a business combination, gains on hedging instruments that are recognized in profit or loss and reclassifications of net gains previously recognized in other comprehensive income. Interest income is recognized as it accrues in profit or loss, using the effective interest method. Dividend income is recognized in profit or loss on the date that the Company&#8217;s right to receive payment is established, which in the case of quoted securities is normally the ex-dividend date.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Finance expense comprise interest expense on borrowings, unwinding of the discount on provisions and deferred consideration, dividends on preference shares classified as liabilities, fair value losses on financial assets at fair value through profit or loss and contingent consideration, impairment losses recognized on financial assets (other than trade receivables), losses on hedging instruments that are recognized in profit or loss and reclassifications of net losses previously recognized in other comprehensive income.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss using the effective interest method.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Foreign exchange gains and losses on financial assets and financial liabilities are reported on a net basis as financial income or financial cost, depending on whether the net foreign currency fluctuations result in a gain or loss position.</span></p>
</div>
<div style="margin: 0 auto;">


<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Details of finance income and costs are as follows:</span></p>
<div id="t_ft_2LKFY9CSCW00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 455px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost of gross debt </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%; background-color: #cceeff;"/>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58.936%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on debt </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9701%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (3,162,853</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9701%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (2,148,322</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; width: 0.997506%; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 11.9701%; height: 18px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (1,626,911</span></p>
</td>
<td style="vertical-align: top; width: 1.08063%; height: 18px;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary and exchange rate variation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,069,157 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,253,446 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (438,430 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives and fair value measurement </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> 2,193,855 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> 3,918,848 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> 764,816 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Amortization of borrowing costs </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (341,034</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (58,732</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (56,397</span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Guarantees and warranties </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (52,082 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (56,079 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (65,207 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,431,271</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,597,731</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,422,129</span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Income from financial investment and exchange rate in cash and cash equivalents</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 600,894 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 369,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 407,701 </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cost of debt, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,830,377</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,228,041</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,014,428</span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on other receivables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 411,394 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 201,060 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> 435,498 </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"/>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Monetary variation of other financial assets </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (372 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on other payables </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (424,946</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (16,293</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (302,620</span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on lease liabilities </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (407,972</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (595,482</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (559,240</span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on shareholders' equity </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (8,288</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (4,959</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (18,726</span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on contingencies and contracts </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (315,620</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (234,368</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span> (222,617</span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Bank charges and other </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (96,983</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (75,408</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (196,230</span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; border-bottom-width: 1px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 115,607 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (30,505 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; border-bottom-width: 1px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (89,260 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;">)</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (727,180</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (755,955</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (953,195</span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (2,557,557 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (1,983,996 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (1,967,623 </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 10px; width: 1.08063%; background-color: #cceeff;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 58.936%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 11.9701%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="vertical-align: top; height: 19px; width: 1.08063%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance expense </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (2,527,506</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (4,727,561</span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,690,578</span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Finance income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span> 1,258,441 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span> 407,710 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="margin: 0pt; text-align: right;"><span> 974,604 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;"/>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Foreign exchange, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (1,099,536 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (3,258,656 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span> (526,946 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 58.936%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Derivatives </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (188,956 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 5,594,511 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.997506%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 11.9701%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,275,297 </span></p>
</td>
<td style="vertical-align: top; height: 18px; width: 1.08063%;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 58.936%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Finance results, net </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (2,557,557 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (1,983,996 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 0.997506%; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-top: 1pt solid #000000; border-bottom: 2.8pt double #000000; height: 10px; width: 11.9701%; background-color: #cceeff;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (1,967,623 </span></p>
</td>
<td style="height: 10px; width: 1.08063%; padding: 0px 0px 1px; vertical-align: bottom; background-color: #cceeff;" valign="bottom"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>

</div>
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of financial results.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Post-employment benefits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;"><span 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; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">23.&#160; &#160; Post-employment benefits</span></span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-style: italic; font-weight: bold;">Accounting </span><span style="font-style: italic; font-weight: bold;">policy</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The cost of defined benefit pension plans and other post-employment and the present value of the pension obligation is determined using actuarial valuations. An actuarial valuation involves the use of various assumptions which may differ from actual results in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. A defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed by management at each reporting date.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">a) Defined contribution</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">A defined contribution plan is a post-employment benefit plan under which the Company pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognized as an employee benefit expense in profit or loss in the periods during which related services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. Contributions to a defined contribution plan that is due more than 12 months after the end of the period in which the employees render the service are discounted to their present value.</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company provides defined contribution plans to all employees. The plan assets are Futura II - Entidade de Previd&#234;ncia Complementar (&#8220;Futura&#8221;) and Plano de Pens&#245;es Comg&#225;s (&#8220;PLAC&#8221;). The Company and its subsidiaries do not have a legal or constructive obligation to pay further contributions if the fund does not have sufficient assets to pay all of the benefits owed.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">b) Defined benefit</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company is the sponsor of defined benefit pension plans for some of its employees. A defined benefit plan is a post-employment benefit plans other than a defined contribution plan.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows, using interest rates that are denominated in the currency in which the benefits will be paid, and that have terms approximating to the terms of the related obligation.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service costs.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Some of the Company&#8217;s pension plan, even though it is substantially defined contribution, has a variable component, whose risk is linked to the payment of minimum benefit and to the increase of the future contributions of the sponsors in the benefits in the event of Death Tax of the active taxpayer as well as in Disability Retirement, limited to three salaries. Any actuarial liability calculated, is recorded by the Company.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Defined benefit plan paid off, whose active participants have a paid-up benefit calculated in accordance with the regulation, which is being updated to the date of receipt by the plan of readjustment index, which leads the company to adopt such a provision the present value of benefits and that assisted participants receive annuity under the plan. The main actuarial risks are:</span></p>
<ol style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Arial; font-size: 11pt; margin: 0pt 0pt 10pt 28.35pt; padding-left: 25.5pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">higher survival to that specified in mortality tables;</span></li>
<li style="font-family: Arial; font-size: 11pt; margin: 0pt 0pt 10pt 30.79pt; padding-left: 23.06pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">the return on equity under the actuarial discount rate plus the accumulated IGP-DI; and</span></li>
<li style="font-family: Arial; font-size: 11pt; margin: 0pt 0pt 10pt 33.24pt; padding-left: 20.61pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">real family structure of different retirees established hypothesis.</span></li>
</ol>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">c) Health Plan</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Subsidiary Comg&#225;s offers the following post-employment health care benefits, granted to former employees and their dependents who retired up to May 31, 2000. After this date, only employees with <span style="border-left: none; border-right: none;">20</span> years contribution to Social Security (<span style="font-style: italic;">Instituto Nacional do Seguro Social</span>), or &#8220;INSS,&#8221; and <span style="border-left: none; border-right: none;">15</span> years uninterrupted work at the Company up to May 31, 2000, are entitled to this defined benefit plan, provided that, on the date of retirement, they were working at the Company.</span></p>
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<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The liability recognized in the statement of financial position in respect of defined benefit post-employment plans is calculated annually by independent actuaries.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amount recognized in the statement of financial position in relation to health plan liabilities represents the present value of the obligations less the fair value of the assets, including actuarial gains and losses. Remeasurement of the net obligation, which include: actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset cap (if any, excluding interest), are recognized immediately in other comprehensive income. Net interest and other expenses related to defined benefit plans are recognized in profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Actuarial gains and losses based on experience adjustments and changes in actuarial assumptions are recognized directly in equity as other comprehensive income, when incurred.</span></p>

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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 78%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Defined contribution </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Futura II </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 190 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 186 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Defined benefit </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Futura </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 198,761 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 163,972 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Health Plan </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 470,524 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; border-bottom: 1px solid #000000; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 564,576 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 669,475 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 2.8pt double #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 728,734 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
</tr>
</tbody>
</table>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;</span><span style="font-weight: bold;">Defined contribution</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">During the year ended December 31, 2021, the amount of sponsor contributions to the plans was R$217 (R$214 and R$215 on December 31, 2020 and 2019, respectively).</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;</span><span style="font-weight: bold;">Defined benefit</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary CLE sponsors Futura - Supplementary Pension Entity (&#8220;Futura&#8221;), formerly Previd Exxon - Supplementary Pension Entity, whose main purpose is the complementary benefits, within certain limits established in the Regulation of the Retirement Plan. This plan was amended to close it to new participants and approved by the competent authorities on May 5, 2011. During the year ended December 31, 2021, the amounts of contributions totaled R$5,166 (R$7,044&#160;and R$4,349 on December 31, 2020 and 2019, respectively). The weighted average duration of the obligation is 9.6 years. In 2022, the subsidiary expects to make a contribution of R$60,560 in relation to its defined benefit plan.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Medical </span><span style="font-weight: bold;">p</span><span style="font-weight: bold;">lan</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Comg&#225;s: Obligations related to post-employment benefit plans, which include medical assistance and retirement incentives, sick pay and disability pension.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The defined benefit pension plan is governed by Brazilian labor laws, which require final salary payments to be adjusted to the consumer price index at the time of payment upon retirement. The level of benefits provided depends on the member's length of service and salary at retirement age. During the year ended December 31, 2021, the amounts of contributions totaled R$25,169 (R$26,804 for the year ended December 31, 2020). The weighted average duration of the obligation is 11.7 years (14.9 years in 2020).</span></p>
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</div>
</div>
<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The details of the present value of the defined benefit obligation and the fair value of plan assets are as follows:</span></p>
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<table cellpadding="0" style="height: 324px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; margin: 0px; text-indent: 0px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1pt solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 1pt solid #000000;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 63.9467%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial obligation at beginning of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,249,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 1,249,630 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">1,012,792</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current service cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 487 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 540 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">480</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on actuarial obligation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 88,299 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 89,253 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">91,849</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial (gain) loss arising from financial assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (183,159 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (58,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">211,030</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss (gain) arising from experience adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 77,111 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(1,216</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; margin: 0px; text-indent: 0px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss arising from demographic assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 14 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Benefit payments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (70,201 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (62,298 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(65,305</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Actuarial obligation at the end of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,161,693 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 1,249,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">1,249,630</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fair value of plan assets at the beginning of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (520,608 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (544,988 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(433,174</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest income </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (35,809 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (38,452 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(39,299</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Return on investments in the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> year (excluding interest income) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 24,143 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 34,370 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(105,417</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Employer contributions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (30,336 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (33,836 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(32,403</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Benefit payments </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 70,202 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 62,298 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; text-align: right; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">65,305</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Fair value of plan assets at the end of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (492,408 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; border-bottom: 1px solid #000000;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (520,608 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; text-align: right; border-bottom-width: 0.5pt; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">(544,988</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
</tr>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Net defined benefit liability </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 669,285 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 728,548 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; text-align: right; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">704,642</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total expense recognized in profit or loss is as follows:</span></p>
<div id="t_ft_4LKWY26UKG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.9988%; height: 94px;" width="100%">
<tbody>
<tr style="height: 36px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 64.9376%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 1.05668%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.960615%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 36px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 1.05668%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.960615%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; text-align: right; border-bottom: 1pt solid #000000; width: 9.99039%;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 36px; width: 0.960615%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 64.9376%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Current service cost </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.99039%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (487 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.05668%;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 9.99039%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (540 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1.05668%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; width: 9.99039%; height: 19px; text-align: right;">(480</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 0.960615%; height: 19px;">)</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 64.9376%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest on actuarial obligation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (52,490 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.05668%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (45,567 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.05668%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.960615%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; height: 19px; text-align: right; border-bottom: 0.5pt solid #000000; width: 9.99039%;">(45,601</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 0.960615%;">)</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 64.9376%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (52,977 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.05668%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.960615%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom: 2.8pt double #000000; height: 20px; width: 9.99039%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> (46,107 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 1.05668%;"><span style="font-weight: bold;">)</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.960615%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; height: 20px; text-align: right; border-bottom: 2.8pt double #000000; font-weight: bold; width: 9.99039%;"><span style="font-weight: bold;">(</span>46,081</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; width: 0.960615%;"><span style="font-weight: bold;">)</span></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Total amount recognized as other accumulated comprehensive income:</span></p>
<div id="t_ft_TVW8EXOHEO00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 99.9988%; height: 153px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 19px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; text-align: right; height: 19px; border-bottom-width: 1pt; border-bottom-style: solid; border-bottom-color: #000000;"><span 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: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">December 31, 2019</span></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 65%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Accumulated at the beginning of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 59,904 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 66,305 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; width: 10%; text-align: right; height: 19px;">170,702</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial gain (loss) arising from financial assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 183,156 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 58,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; text-align: right; height: 19px;">(211,030</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial (loss) gain arising from experience adjustment </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (77,112 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (30,267 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;">1,216</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Actuarial loss arising from demographic assumptions </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (14 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; text-align: right; height: 19px;">&#8212;</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Return on investments in the </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> year (excluding interest income) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (24,145 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (34,370 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; text-align: right; height: 19px; border-bottom: 0.5pt solid #000000;">105,417</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Accumulated at the end of the year </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 141,803 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px; border-bottom: 2.8pt double #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 59,904 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
<td style="padding: 0px 0px 0px 4px; vertical-align: bottom; background-color: #cceeff; text-align: right; height: 20px; font-weight: bold; border-bottom: 2.8pt double #000000;">66,305</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 20px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>

</div>
<div style="margin: 0 auto;">

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The plan assets are composed of the following:</span></p>
<div id="t_ft_BJHPVCXZTC00000000000000000000b">
<table cellpadding="0" style="height: 87px; border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 63.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 16.9576%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="font-weight: bold;">December 31, 202</span><span style="font-weight: bold;">1</span></span><br/></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px; width: 0.997506%;"><br/></td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; text-align: center; border-bottom: 1px solid #000000; width: 18.7864%;"><span style="font-size: 8pt;"><span 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: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">December 31, 20</span><span 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: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">20</span></span><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.08063%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 63.9235%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Amount </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 9.97506%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Amount </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.831255%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> % </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.08063%; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 63.9235%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Fixed income bonds </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 7.98005%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 484,847 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 7.98005%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 99.99% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 9.97506%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 513,470 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.831255%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 7.98005%; background-color: #cceeff; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 99.96% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.08063%; background-color: #cceeff; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 63.9235%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 48 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.01% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.997506%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 9.97506%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 180 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 0.831255%; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom: 1px solid #000000; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 0.04% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.08063%; border-bottom-width: 1px;"><br/></td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 63.9235%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 484,895 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 100.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.997506%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 9.97506%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 513,650 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 2.8pt double #000000; background-color: #cceeff; width: 7.98005%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> 100.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.08063%;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Plan assets are comprised of financial assets with quoted prices in active markets and therefore are classified as level 1 and level 2 in the valuation hierarchy of fair value. The overall expected rate of return on plan assets in determined based on prevailing market expectations on that date, applicable to the period over which the obligation is to be settled.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The tax effects from this provision are detailed in Note <span style="border-left: none; border-right: none;">15</span>.</span></p>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The main assumptions used to determine the benefit obligations of the Company are&#160;</span><span style="font-family: 'times new roman', times; font-size: 10pt;">as follows:</span></p>
<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><br/></p>
<div id="t_ft_JWLU6VEJCG00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 183px;" width="100%">
<tbody>
<tr style="height: 20px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Defined benefit </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom-width: 1px;"><br/></td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Health plan </span></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-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="vertical-align: top; height: 10px; border-bottom-width: 1px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; width: 56%; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Discount rate (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 8.64% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.20% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 9.09% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.43% </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; width: 1%; height: 19px; border-bottom-width: 1px;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Inflation rate (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.50% </span></p>
</td>
<td style="vertical-align: top; height: 19px; border-bottom-width: 1px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Future salary increases (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.60% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; border-bottom-width: 1px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.60% </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 19px; border-bottom-width: 1px;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Aging factor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Increase in pension plans (per year) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.25% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 3.00% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.60% </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 19px;"/>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Overall mortality (segregated by gender) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> AT-2000</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; height: 19px;"/>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Disable mortality table </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IAPB-1957</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 19px;"/>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Entry into disability (modified) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> UP-84 Modified</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; height: 10px;"/>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Turnover </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt;"><span>0.60/ (services time +1)</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 10px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N/A </span></p>
</td>
<td style="vertical-align: top; background-color: #cceeff; height: 10px;"/>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0px; text-align: justify; text-indent: 0px;"><br/></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Sensitivity analysis</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Change in the discount rate for the statement of financial position date in one of the relevant actual assumptions, while maintaining other assumptions, would have affected the defined benefit obligation as shown below:</span></p>
<div id="t_ft_913ZWCMU9S00000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 76px;" width="100%">
<tbody>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="4" style="padding-left: 3.5pt; padding-right: 3.5pt; height: 19px; border-bottom: 1px solid #000000; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Discount rate </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 19px; border-bottom: 1px solid #000000; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> 0.50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; height: 19px; border-bottom: 1px solid #000000; vertical-align: bottom;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> (0.50)% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 76%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Defined benefit </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (28,170 </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 10%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 30,525 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 19px; width: 1%;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Health plan </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> (25,019 </span></p>
</td>
<td style="padding: 0px 0px 0px 1px; vertical-align: bottom; height: 19px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 27,708 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div style="border-right: none; border-left: none;">
<div id="Normadiv55" style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There was no change in relation to previous years in the methods and assumptions used in preparing the sensitivity analysis.</span></p>
</div>
</div>
</div>
</div>
<span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for employee benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2021-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2021-en-r&amp;doctype=Standard&amp;dita_xref=IAS19_g2-7_TI<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487484728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-based payment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-style: normal; float: none; display: inline !important;">24.&#160; &#160; Share-based payment</span></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Accounting policy</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The fair value of share-based payment benefits at the grant date is recognized as employee benefit expense with a corresponding increase in shareholders&#8217; equity for the period in which employees unconditionally acquire the right to benefits.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amount recognized as an expense is adjusted to reflect the number of shares for which there is an expectation that the conditions of service and non-market acquisition conditions will be met in such a way that the amount finally recognized as an expense is based on the number of actions that actually meet the conditions of the service and non-market acquisition conditions on the date the vesting date is acquired. For non-vesting share-based payment benefits, the fair value on the grant date of the share-based payment is measured to reflect such conditions and there is no change to the difference between expected and actual benefits.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The plans have been administered by the Board of Directors, at its option, by a Committee, within the limits established in the guidelines for the preparation and structuring of each plan and in the applicable legislation. Description of share-based payment arrangements follow:</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">a)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Employee share scheme (Share-based compensation plan)</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span>A scheme under which share may be issued by the Company to employees for no cash consideration was approved by shareholders at the 2016 annual general meeting.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the scheme, eligible employees may be granted common shares annually for no cash consideration. The number of shares issued to plan participants is the offer amount divided by the weighted average price at which the Company&#8217;s shares are traded on the Stock Exchange. The shares are recognized at the closing share price on the grant date (grant date fair value) as an issue of treasury shares and as part of employee benefit costs in the period the shares are granted.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For equity-settled share-based compensation, expense is based on the grant date of fair value of the awards expected to vest over the vesting period. For awards with graded vesting, the fair value of each tranche is recognized over the respective vesting period. At the end of each reporting period, the Company re-assesses its estimates of the number of awards that are expected to vest and recognizes the impact of the revisions in the statement of profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Black-Scholes methodology was used to calculate the fair value under the terms of the Stock-Based Compensation Plan.</span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">b)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Cash-Settled transactions</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.6pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company has phantom stock plan that provides for the granting of stock appreciation rights (&#8220;SARs&#8221;) and other cash-based awards to certain employees. SARs provide the opportunity to receive a cash payment equal to the fair market value of the Company&#8217;s common shares less the grant prince. Compensation expense is recognized based on the fair value, measured according to the market-to-market of the Cosan&#160;S.A.&#8217;s shares. Any changes in the liability are recognized in profit or loss.</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">c)</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160;&#160;</span><span style="font-weight: bold;">Equity-settled transactions</span></span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span>The cost of equity-settled transactions with employees is measured by reference to fair value of the equity instruments on the date on which they are granted and is recognized as an expense over the vesting period, which ends on the date on which the employees become fully entitled to the award. A corresponding credit is recognized within equity. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions). Non-vesting conditions, such as the condition that employees contribute to a savings-related plan, are taken into account in the grant-date fair value, a failure to meet a non-vesting condition, where this within the control of the employee is treated as a cancellation and any remaining unrecognized cost is expensed. The Black-Scholes model was developed for use in estimating the fair value of traded options that have on vesting restrictions. The model requires the use of subjective assumptions, including expected stock-price volatility, expected life of the stock option or stock grant and yield. The last two years of historical data shares value of the Company and subsidiaries have been considered in setting the assumptions.</span></p>

<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility has been based on an evaluation of the historical volatility the Company&#8217;s share price, particularly over the historical period commensurate with the expected term. The expected term of the instruments has been based on historical experience and general option holder behavior.</span></p>
<p style="margin: 0pt 0pt 10pt 57.55pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For other equity-settled share-based payment transactions, the goods or services received and the corresponding increase inequity are measured at the fair value of the goods or services received unless their fair value cannot reliably estimate. If the fair value of the goods and services received cannot be reliably estimated, the transaction is measured by reference to the fair value of the equity instruments granted.</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The Company and its subsidiaries have Share-Based Compensation Plans that are settled in cash or equity. For the year ended December 31, 2021, the Group has the following share-based payment arrangements:</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span> Plans granted in 2021</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="text-decoration: underline;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Share-based payment plan (Equity-settled)</span></span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On December 31, 2021, the Company established the following share-based payment arrangements:<br/></span></p>
<div id="t_ft_ZHAZKDWBRK00000000000000000000b">
<table style="height: 110px; width: 100%; margin-left: 0.1px; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 17px;">
<td style="height: 17px; width: 20%; border-bottom: 1pt solid #000000; padding: 0px 0px 4px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Program</span></b> </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; width: 77%; border-bottom: 1pt solid #000000; padding: 0px 0px 4px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Vesting conditions</span></b> </span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; padding: 0px 0px 10px; vertical-align: top; width: 20%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cosan - Investe I </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; padding: 0px 0px 10px; width: 77%;"><span> 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 200% (to calculate the fair value, the achievement of 100% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. </span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; padding: 0px 0px 10px; vertical-align: top; width: 20%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cosan - Investe II </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; padding: 0px 0px 10px; width: 77%;"><span> 4 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (to calculate the fair value, the achievement of 100% was considered). Performance shares will have a specific weight, according to the target established by the Board of Directors. </span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; vertical-align: top; width: 20%;" valign="top"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cosan - Investe III </span></td>
<td style="height: 17px; width: 3%;"><br/></td>
<td style="height: 17px; padding: 0px 0px 10px; width: 77%;"><span> 5 years of service from the grant date with restricted shares and additional restricted shares being delivered. The restricted shares being equivalent to 25% of the participant's Long-Term Incentive Program and the additional restricted shares transferred as a result of the Company's Matching. </span></td>
</tr>
<tr style="height: 10px;">
<td style="height: 10px; vertical-align: top; width: 20%;" valign="top"><span> Rumo &#8211;Special Program 2021 </span></td>
<td style="height: 10px; width: 3%;"><br/></td>
<td style="height: 10px; padding: 0px 0px 10px; width: 77%;"><span> 5 years of service from the grant date and achievement of specific metrics. </span></td>
</tr>
<tr style="height: 32px;">
<td style="vertical-align: top; height: 32px; width: 20%;" valign="top"><span> Rumo - Program 2021 </span></td>
<td style="height: 32px; width: 3%;"><br/></td>
<td style="padding: 0px; height: 32px; width: 77%;"><span> 3 years of service from the grant date and achievement of specific metrics that can vary between 0% and 150% (to calculate the fair value, the achievement of 100% was considered).</span></td>
</tr>
</tbody>
</table>
</div>

</div>
<p style="margin: 10pt 0pt 10pt 17.85pt; text-align: justify;"><span>In these programs, executives are entitled to shares with consideration of R$0.01 by executives, in which the concession is conditioned to the fulfillment of certain conditions of acquisition rights. The holders of such shares have the same rights as the holders of shares not subject to a vesting condition (e.g. dividends).<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="text-decoration: underline;">Share-based payment plan (Cash-settled)</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The subsidiary Compass has awarded a phantom share plan that provides for the granting of share appreciation rights (&#8220;SARs&#8221;) and other cash-based awards to certain employees. SARs provide the opportunity to receive a cash payment equal to the fair market value of the Company's common shares, less the grant price.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>The subsidiary Moove granted a Long-Term Incentive Plan (LTIP): &#8220;Moove Phantom Shares&#8221;. It is a phantom share plan, in which a specific number of units referenced to a theoretical price of shares calculated based on the Group&#8217;s EBITDA of each year, is granted nominally to beneficiaries. The units will be paid in cash, upon fulfilment of the contractual conditions and 5 years of vesting period. Payments happen at the end of each cycle (5 years after grant date), based on the referenced converted value of the share at that time<br/></span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The payment forecast is being provisioned monthly based on EBITDA projections that are reviewed each quarter<br/></span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following share-based payment arrangements:<br/></span></p>
<div style="margin: 0 auto;">

<table cellpadding="0" style="height: 747px; border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 41.6256%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Type of award / Grant date </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 13.5447%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Company </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 6.40394%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Expected life (years) </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Shares granted </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Exercised / canceled / transferred </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center; line-height: 1;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold; line-height: inherit;"> Available </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.60099%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Share-based payment plan </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> April 27, 2017 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 1,096,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (954,028 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 141,972 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2017 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 1,192,428 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (396,848 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 795,580 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2018 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 842,408 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (107,576 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 734,832 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 229,020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (20,080 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 208,940 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 68,972 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (6,704 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 62,268 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <span style="border-right: none; border-left: none;">July 31, 2021 - Invest I</span> </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 424,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 424,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 22px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> September 10, 2021 - Invest II </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 4 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 5,283,275 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (660,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 4,622,865 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 22px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> October 11, 2021 - Invest III </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 809,944 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 809,944 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 22px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 9,946,886 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (2,145,646 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 7,801,240 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.21065%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%; background-color: #cceeff;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1.35468%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1.23153%; height: 18px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> April 20, 2017 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 61,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (61,300 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> August 12, 2017 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 97,780 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (97,780 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> August 1, 2018 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 96,787 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (17,761 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 79,026 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 83,683 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (14,794 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 68,889 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> February 1, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,858,969 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (1,858,969 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 2,198,519 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (2,050,604 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 147,915 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> January 2, 2017 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 1,476,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (1,476,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> September 1, 2017 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 870,900 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (255,250 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 615,650 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> August 1, 2018 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 1,149,544 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (308,417 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 841,127 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> August 15, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 843,152 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (147,214 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 695,938 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 15px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> November 11, 2020</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 776,142 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (115,303 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 660,839 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 15px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 15px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> May 05, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 1,481,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (414,702 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 1,066,298 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 23px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> September 15, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Rumo </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,560,393 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (8,422 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,551,971 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 23px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 23px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 8,157,131 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (2,725,308 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 5,431,823 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 21px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Share-based payment </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 21px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 21px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> plan</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> August 18, 2011 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 1 to 12 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 6,006,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (6,006,504 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> August 31, 2015 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 to 7 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 463,906 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (463,906 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 12px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 6,470,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> (6,470,410 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Cash-settled transactions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 13.5447%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2019 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 132,670 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 132,670 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 5 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 106,952 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 106,952 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> July 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Moove </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 80,729 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 80,729 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 26,625 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 26,625 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass Comercializa&#231;&#227;o </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 2 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 31,535 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 31,535 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 152,770 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 152,770 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">August 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> TRSP </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 33,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 33,634 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">November 1<sup><span style="vertical-align: super; font-size: 8pt;">st</span></sup>, <span>2021</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 172,251 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 172,251 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">November 1<sup><sup><span style="vertical-align: super;">st</span></sup></sup>, <span>2021</span></span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 6.40394%;">
<p style="margin: 0pt; text-align: center;"><span> 3 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,474,367 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> 1,474,367 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 10px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> 2,211,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.72906%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 9.60591%;">
<p style="margin: 0pt; text-align: right;"><span> 2,211,533 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 19px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 19px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 41.6256%;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom: 1px solid #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
<tr style="height: 20px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 41.6256%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Total </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 13.5447%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.21065%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 6.40394%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 28,984,479 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.72906%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> (13,391,968 </span></p>
</td>
<td style="padding: 0px 0px 1px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><span style="font-weight: bold;">)</span></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.35468%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; border-bottom: 2.8pt double #000000; width: 9.60591%;">
<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 15,592,511 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 20px; background-color: #cceeff; width: 1.23153%;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 20px; background-color: #cceeff; width: 1.60099%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
</tr>
</tbody>
</table>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>

<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Measurement of fair values</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>The weighted average fair value of the programs granted during the financial years ended December 31, 2021 and 2020 and the principal assumptions used in applying the Black-Scholes model were as follows:</span></p>
<div id="t_ft_MSC9B0MJ2800000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; margin-left: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 106px;" width="100%">
<tbody>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="15" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Stock grant programs </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 10px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Rumo S.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Comg&#225;s </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
<td colspan="3" style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Compass G&#225;s e Energia </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 10px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 28%; height: 10px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 8%; border-bottom: 1px solid #000000; height: 10px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 1%; height: 10px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> Key assumptions </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Share price at grant date </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 23.20 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 83.73 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 18.20 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 20.01 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span>78.58</span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 27.27 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 13.58 </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Risk-free interest rate </span></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;"><span> 6.82% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> 6.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> 6.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> 6.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> 6.82% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span> 6.94% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px; background-color: #cceeff;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Volatility factor </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 36.50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 36.50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 26.51% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 36.50% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 32.81% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span> 32.81% </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> N.A. </span></p>
</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 17px;"><br/></td>
</tr>
</tbody>
</table>
</div>

<p style="margin: 0pt 0pt 0pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
</div>
<div style="margin: 0 auto;">
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Reconciliation of outstanding share options</span></p>

<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The movement in the number of awards outstanding and their related weighted-average exercise prices are as follows:</span></p>
<div id="t_ft_RRJ0Z4BV0000000000000000000000b">
<table cellpadding="0" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 100%; height: 164px;" width="100%">
<tbody>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 88%; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At January 1, 2020<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 10%; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 11,478,287 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; width: 1%; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Granted<sup><span style="color: #000000; font-family: 'times new roman', times; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">(i)</span> </sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 3,131,000 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Vested<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (3,875,167 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Canceled<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (197,330 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2020<sup>(i)</sup></span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 10,536,790 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Granted </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> 11,531,359 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Vested </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">
<p style="margin: 0pt; text-align: right;"><span> (6,200,231 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 18px;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: middle; height: 18px;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Canceled </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; text-align: right;"><span> (275,407 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;">)</td>
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
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<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> At December 31, 2021 </span></p>
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<p style="border-bottom-color: #000000; border-bottom-width: 1.5pt; margin: 0pt; text-align: right;"><span> 15,592,511 </span></p>
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<p style="margin: 0cm 0cm 10pt 53.85pt; text-indent: -18pt; text-align: justify; font-size: 11pt; font-family: Arial, sans-serif;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="mso-list: Ignore;">(i)<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160;&#160;&#160;&#160; </span></span></span><span><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 6, 2021, the Company split the issued shares, in the proportion of <span style="-sec-ix-hidden:Tag7159">1:4</span>, without changing the share capital. The split of shares was approved at the Annual and Extraordinary General Meeting on April 30, 2021.</span></span></p>
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<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-style: italic; font-weight: bold;">Expense recognized in profit or loss</span></p>
<p style="margin: 0pt 0pt 10pt 17.85pt; text-align: justify;"><span>Share-based compensation expense included in the statement of profit and loss for the years ended December 31, 2021, 2020 and 2019 was R$84,052, R$293,011 and R$96,212, respectively.</span></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487798824">
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<th class="th" colspan="1">12 Months Ended</th>
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<p style="margin: 0pt 0pt 10pt 0pt; text-align: justify;"><span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">25.&#160; &#160; Subsequent events</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Subsequent material events that began before the end of the year ended December 31, 2021 and ended after that date were included in note 2 so that users of the consolidated financial statements have a better understanding of these events.</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><span style="font-weight: bold;">Extraordinary Shareholders&#8217; Meeting</span><br/></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On April 29, 2022, the Extraordinary Shareholders&#8217; Meeting approved a capital increase in the amount of R$2,036,691 and the increase in the Company&#8217;s authorized capital to up to R$9,000,000.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Conclusion of the Acquisition of the Lubricants Business by Ra&#237;zen</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 2, 2022, Ra&#237;zen concluded the total acquisition of the lubrificants business of Shell Brasil Petr&#243;leo Ltda.<br/></span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Cosan&#8217;s fourth debenture issuance</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 6, 2022, Cosan issued debentures in an aggregate principal amount of R$1,500,000 divided into two tranches. The first tranche is in an aggregate principal amount of R$400,000, accrues interest at a rate equal to the CDI plus <span style="border-left: none; border-right: none;">1.50</span>% and matures in May 2028, with the principal being due at maturity. The second tranche is in an aggregate principal amount of R$1,100,000, accrues interest at a rate equal to the CDI plus <span style="border-left: none; border-right: none;">1.90</span>% and matures in May 2032, with the principal being due in the eighth, ninth and tenth years of the term.</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;">Share buyback program</span></p>
<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">On May 9, 2022, our board of directors approved a new share buyback program pursuant to which up to 110,000,000 common shares of Cosan S.A. representing 5.87% of our total shares may be repurchased over a period of <span style="-sec-ix-hidden:Tag7200"><span style="border-left: none; border-right: none;">18</span> months</span> from the date of approval. The shares repurchased may be used to meet our obligations from potential exercises of our equity-based compensation plans, and may also be held in treasury, disposed of or cancelled in accordance with applicable law. This share buyback program supersedes our previous share buyback program which had been approved on March 26, 2021.</span></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2021-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=10&amp;code=ifrs-tx-2021-en-r&amp;doctype=Standard&amp;dita_xref=IAS10_g17-22_TI<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487323608">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Recent accounting developments adopted by the Company<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations', window );">Recent accounting developments adopted by the Company</a></td>
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<div id="Normadiv60" style="font-family: 'times new roman', times; font-size: 10pt;">
<p style="text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; font-weight: bold; float: none; display: inline !important;">26.<span><span>&#160; &#160;</span> Recent accounting developments adopted by the Company</span></span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt;"><span style="color: #ffffff; font-weight: bold;">Applicable standard</span></span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Key requirements</span></p>
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<p style="margin: 0pt 0pt 10pt; text-align: center;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;">Impact</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Interest Rate Benchmark Reform (Phase 1)</span></p>
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Amendments to IFRS 9, IAS 39 and IFRS 7</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amendments modified specific hedge accounting requirements so entities can continue to forecast future cash flows assuming that the interest rate benchmark continue despite ongoing reviews of interest rate benchmark reform. As a result, there is no requirement for an entity to discontinue hedge relationships or to reassess the economic relationships between hedged items and hedging instruments as a result of the uncertainties of the interest rate benchmark reform.</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">For phase 1 and 2, we do not have significant derivatives that refer to an interest rate benchmark, so these amendments have not had a material impact in the Company.</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">COVID-19 &#8722; Related Rent Concessions (Amendment to IFRS 16)</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Under the practical expedient, lessees are not required to assess whether eligible rent concessions are lease modifications, and instead are permitted to account for them as if they were not lease modifications. Rent concessions are eligible for the practical expedient if they occur as a direct consequence of the COVID-19 pandemic and if all of the following criteria are met:</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8226;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span>the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change;</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8226;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span>any reduction in lease payments affects only payments originally due on or before June 30, 2022; and</span></p>
<p style="margin: 0pt 0pt 10pt 36pt; text-indent: -18pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8226;<span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&#160; &#160; &#160;&#160;</span>there is no substantive change to the other terms and conditions of the lease.</span></p>
<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The amendment is effective for annual periods beginning on or after June 1, 2020.</span></p>
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<p style="margin: 0pt 0pt 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">There has been no change in the consideration for the leases that we are both lessees and lessors.</span></p>
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<p style="margin: 0pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; text-align: justify; text-indent: 35.45pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All other standards or amendments to standards that have been issued by the IASB and were effective by January 1, 2021, were not applicable or material to the Company.</span></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the initial application of an IFRS. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487472200">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>New standards and interpretations not yet effective<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations', window );">New standards and interpretations not yet effective</a></td>
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<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">27.&#160; &#160; New standards and interpretations not yet effective</span></span></p>
<p style="margin: 0in 0in 0.0001pt; color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0in; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; font-size: 11pt; font-family: Arial, 'sans-serif'; text-align: left;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"><span 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: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;"><br/></span></span></p>
<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: justify; text-indent: 35.45pt; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following new standards, interpretations and amendments were issued by the IASB, but are not effective for annual periods beginning after January 1, 2021. Although early adoption is permitted, the Company did not adopt them in advance in the preparation of these consolidated financial statements. In addition, based on an initial review the Company does not currently believe adoption of the following standard/amendments will have a material impact on the consolidated profit or loss or financial position of the Company.&#160;</span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: center; widows: 0;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Applicable standard </span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: center; widows: 0;"><span style="color: #ffffff; font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Key requirements or changes in accounting policy </span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest Rate Benchmark Reform (Phase 2) Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Effective from the year ended December 31, 2021 &#160; </span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> The amendments are applicable when an existing interest rate benchmark is replaced by another interest rate benchmark. The amendments provide a practical expedient that modifications to asset and liability values as a direct consequence of the interest rate benchmark reform and made on an economically equivalent basis (i.e., where the basis for determining contractual cash flows is the same), can be accounted for by only updating the effective interest rate. Additionally, hedge accounting is not discontinued solely because of the replacement of another interest rate benchmark. Hedging relationships (and related documentation) must instead be amended to reflect modifications to the hedged item, hedging instrument and hedged risk. </span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> IFRS 17 Insurance Contracts Effective from the year ended December 31, 2023 </span></p>
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<p style="margin: 0pt 0pt 10pt; orphans: 0; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> This standard introduces a new model for accounting for insurance contracts. Work continues to review existing arrangements to determine the impact on adoption. </span></p>
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<p style="margin: 0pt; orphans: 0; text-align: justify; text-indent: 35.45pt; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<p style="margin: 0pt 0pt 10pt; orphans: 0; text-align: justify; text-indent: 35.45pt; widows: 0;"><span style="font-family: 'times new roman', times; font-size: 10pt;">All other standards or amendments to standards that have been issued by the IASB and are effective from January 1, 2022, onwards are not applicable or material to the Company.&#160;</span></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the known or reasonably estimable information relevant to assessing the possible impact that the application of a new IFRS, that has been issued but is not yet effective, will have.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 30<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_30_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964499270056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory', window );">Functional and presentation currency</a></td>
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<p style="margin: 0pt 0pt 9pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold; margin: 0pt 0pt 10pt 21.4pt;"><span style="border-left: none; border-right: none;">4.1</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Functional and presentation currency</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times;">The consolidated financial statements are presented in Brazilian reais. However, the functional currency of Cosan Limited (the predecessor of the Company) is the U.S. dollar. The functional currency of Cosan S.A. is the Brazilian reais, which is the currency of the primary economic environment in which Cosan S.A. and its subsidiaries and jointly-controlled entity, located in Brazil, operate and generate and expend cash. The functional currency of subsidiaries located outside Brazil is the U.S. dollar, British pound or the Euro. All amounts have been rounded to the nearest thousand, unless otherwise indicated.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Monetary assets and liabilities denominated and calculated in foreign currencies on the balance sheet date are reconverted to the functional currency at the exchange rate on that date. Non-monetary assets and liabilities that are measured at fair value in a foreign currency are reconverted to the functional currency at the exchange rate on the date the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are translated at the exchange rate on the transaction date. Foreign currency differences resulting from translation are generally recognized in profit or loss.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on acquisition, are translated into Brazilian reais at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into Brazilian reais at the exchange rates at the dates of the transactions.&#160;</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency differences are recognized and presented in other comprehensive income in shareholders' equity. However, if the foreign operation is a non-wholly owned subsidiary, then the relevant proportion of the translation difference is allocated to non-controlling interests. When a foreign operation is disposed of such control, loss or significant influence is lost, the accumulated amount in the translation reserve related to that foreign operation is reclassified to profit or loss as part of the gain or loss on disposal.&#160;</span></p>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DescriptionOfAccountingPolicyForUseOfJudgementsAndEstimatesExplanatory', window );">Use of judgments and estimates</a></td>
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<p style="margin: 0pt 0pt 10pt 22pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"><span style="font-weight: bold;"><span style="border-left: none; border-right: none;">4.2</span>.</span><span style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;"> </span><span style="font-weight: bold;">Use of judgments and estimates</span></span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">In preparing these consolidated financial statements, Management has made judgments and estimates that affect the application of the Company&#8217;s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Those estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and relevant under the circumstances.</span></p>
<p style="margin: 0pt 0pt 10pt 39.7pt; text-align: justify;"><span style="font-family: 'times new roman', times; font-size: 10pt;">Estimates and underlying assumptions are reviewed on an ongoing basis and recognized prospectively. Information about critical judgments, assumptions and estimation uncertainties in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes:</span></p>
<ul style="margin: 0pt; padding-left: 0pt;">
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.3 &#8211; Trade receivables</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.7 &#8211; Leases</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.9 &#8211; Sector financial assets and liabilities</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 6.11 &#8211; Recognized fair value measurements</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 10 &#8211; Investments in joint venture</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Notes 11.1 e 11.2 &#8211; Property, plant and equipment, intangible assets and goodwill</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 11.5 &#8211; Investment property</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 12 &#8211; Commitments</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 15 &#8211; Income tax</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 16 &#8211; Provision for legal proceedings</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 23 &#8211; Post-employment benefits</span></li>
<li style="font-family: Symbol; font-size: 11pt; margin: 0pt 0pt 10pt 67.76pt; padding-left: 7.94pt; text-align: justify; text-indent: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Note 24 &#8211; Share-based payments</span></li>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for use of judgements and estimates.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the currency of the primary economic environment in which the entity operates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2021-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory</td>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487425304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of accounting (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_BasisOfAccountingAbstract', window );"><strong>Basis of accounting</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfChangesInAccountingEstimatesExplanatory', window );">Schedule of change in accounting policy</a></td>
<td class="text">
<table style="height: 252px; width: 100%; margin-left: 0.1px; border-style: none; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px; border-style: none; margin-left: 0.1px;">
<td style="height: 10px; width: 62.9232%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2020</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">Reclassification</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2020 (restated)</span></b> </span></td>
<td style="height: 10px; width: 1.07349%;"><br/></td>
</tr>
<tr style="height: 19px; background-color: #cceeff;">
<td style="height: 19px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Net sales </span></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,437,835 </span></td>
<td style="height: 19px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 19px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,437,835 </span></td>
<td style="height: 19px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="height: 19px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cost of sales </span></td>
<td style="height: 19px; width: 0.990917%;"><br/></td>
<td style="height: 19px; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,501,725</span></td>
<td style="height: 19px; width: 0.990917%; border-bottom-width: 1px;">)</td>
<td style="height: 19px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (498,098</span></td>
<td style="height: 19px; width: 0.990917%; text-align: left;"><span style="font-family: &quot;times new roman&quot;, times; font-size: 10pt; font-weight: bold;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;"><span style="color: #000000; font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;">)</span></span></b></span></td>
<td style="height: 19px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 19px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,999,823</span></td>
<td style="height: 19px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Gross profit</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">5,936,110</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(498,098</span></b></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">5,438,012</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Selling expenses </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (959,146</span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 297,239 </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (661,907</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> General and administrative expenses </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,790,678</span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;">200,859</span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,589,819</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Other income, net&#160;</span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 176,869 </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 176,869 </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Operating expenses</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(2,572,955</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">498,098</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(2,074,857</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before equity in earnings of</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: #000000;">&#160; &#160; &#160;investees, finance results and income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,363,155</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,363,155</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Equity in earnings of investees</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">611,802</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">611,802</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Finance results, net</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,983,996</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,983,996</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,990,961</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,990,961</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(502,667</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(502,667</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit for the year</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,488,294</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 2.8pt; border-bottom-style: double; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,488,294</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-align: justify; text-indent: 0px;">&#160;</p>
<table style="height: 250px; width: 100%; margin-left: 0.1px; border-style: none; font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse;">
<tbody>
<tr style="height: 10px;">
<td style="height: 10px; width: 62.9232%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2019</span></b> </span></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">Reclassification</span></b> </span></td>
<td style="height: 10px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 10px; width: 0.990917%;"><br/></td>
<td style="height: 10px; text-align: center; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 8pt;"> <b><span style="color: #000000;">December 31, 2019 (restated)</span></b> </span></td>
<td style="height: 10px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Net sales </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,611,409 </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 20,611,409 </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Cost of sales </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,160,233</span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (456,752</span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (14,616,985</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Gross profit</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">6,451,176</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(456,752</span></b></span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">5,994,424</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Selling expenses </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,122,866</span></td>
<td style="height: 17px; width: 0.990917%;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 456,752 </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (666,114</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;">)</td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> General and administrative expenses </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,236,062</span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;">)</td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> (1,236,062</span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;">)</td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> Other income, net </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 404,686 </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> 404,686 </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Operating expenses</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,954,242</span></b></span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">456,752</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,497,490</span></b></span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><span style="font-weight: bold;">)</span></td>
</tr>
<tr style="height: 17px;">
<td style="height: 17px; width: 62.9232%;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before equity in earnings of</span></b> </span></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 0.990917%; text-align: left;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%;"><br/></td>
<td style="height: 17px; width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="height: 17px; width: 62.9232%; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b><span style="color: #000000;">&#160; &#160; &#160;investees, finance results and income taxes</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">4,496,934</span></b> </span></td>
<td style="height: 17px; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="height: 17px; width: 0.990917%; text-align: left; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 0.990917%; background-color: #cceeff;"><br/></td>
<td style="height: 17px; text-align: right; width: 9.99174%; border-bottom: 1px solid #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">4,496,934</span></b> </span></td>
<td style="height: 17px; width: 1.07349%; text-align: left; background-color: #cceeff;"><br/></td>
</tr>
<tr style="height: 19px;">
<td style="width: 62.9232%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Equity in earnings of investees</span></b> </span></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,132,637</span></b> </span></td>
<td style="width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 19px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 19px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 19px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">1,132,637</span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 19px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Finance results, net</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,967,623</span></b></span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(1,967,623</span></b></span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
</tr>
<tr style="height: 17px;">
<td style="width: 62.9232%; height: 17px;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit before income taxes</span></b> </span></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,661,948</span></b> </span></td>
<td style="width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span><br/></td>
<td style="width: 0.990917%; text-align: left; height: 17px;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">3,661,948</span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Income taxes</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(779,596</span></b></span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">(779,596</span></b></span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"><b style="color: #000000; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; orphans: 2; text-align: right; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: #000000;">)</span></b></span></td>
</tr>
<tr>
<td style="width: 62.9232%;"><span> <span style="color: #000000;">Profit from discontinued operation, net of tax</span> </span></td>
<td style="width: 0.990917%;"><br/></td>
<td style="width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-size: 10pt; font-family: 'times new roman', times;">11,021</span></td>
<td style="width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#8212;</span></td>
<td style="width: 0.990917%; text-align: left;"><br/></td>
<td style="text-align: right; width: 0.990917%;"><br/></td>
<td style="text-align: right; width: 9.99174%; border-bottom: 1px solid #000000;"><span style="font-family: 'times new roman', times; font-size: 10pt;">11,021</span></td>
<td style="width: 1.07349%; text-align: left;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="width: 62.9232%; height: 17px; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">Profit for the year</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">2,893,373</span></b> </span></td>
<td style="width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-size: 10pt; font-family: 'times new roman', times; color: #000000;"> &#8212; </span></td>
<td style="width: 0.990917%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 0.990917%; height: 17px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; width: 9.99174%; height: 17px; border-bottom: 2.8pt double #000000; background-color: #cceeff;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> <b><span style="color: #000000;">2,893,373</span></b> </span></td>
<td style="width: 1.07349%; text-align: left; height: 17px; background-color: #cceeff;"><br/></td>
</tr>
</tbody>
</table>
<p style="margin: 0px; text-indent: 0px;"><br/></p>
<span></span>
</td>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">csan_BasisOfAccountingAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of changes in accounting estimates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2021-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&amp;num=8&amp;code=ifrs-tx-2021-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2021-03-24<br></p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964487473320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_TextBlockAbstract', window );"><strong>Text block [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_csan_DisclosureOfExchangeRatesOfRealForFunctionalCurrencyOfSubsidiariesExplanatory', window );">Schedule of Exchange Rates of Real for Functional Currencies of Subsidiaries</a></td>
<td class="text">
<p style="margin: 0pt 0pt 0pt 39.7pt; text-align: justify; text-indent: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;">The following table set forth the exchange rate, expressed in reais (R$) per U.S. dollar (U.S.$), British pound (&#163;) and Euro (&#8364;), as reported by the Central Bank of Brazil (Banco Central do Brasil), &#8220;BACEN,&#8221; for the years indicated:</span></p>
<p style="margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</span></p>
<div id="t_ft_27F3RK907K00000000000000000000b">
<table cellpadding="0" style="height: 69px; border-collapse: collapse; margin: 0px auto; font-family: 'times new roman'; font-size: 10pt; width: 80%;" width="80%">
<tbody>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt;"><span style="text-decoration: underline; font-size: 8pt;"> Currency </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2021 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2020 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; border-bottom-width: 1px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1px solid #000000; height: 18px;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-size: 8pt; font-family: 'times new roman', times; font-weight: bold;"> December 31, 2019 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; width: 58%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> U.S. dollar (U.S.$) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.581 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.197 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 12%; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.031 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; width: 1%; background-color: #cceeff; height: 17px;"><br/></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;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> British pound (&#163;) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.524 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 7.101 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 5.325 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Euro (&#8364;) </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.321 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 6.378 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;">
<p style="margin: 0pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> 4.531 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; background-color: #cceeff; height: 17px;"><br/></td>
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</tbody>
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<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of exchange rates of real for functional currency of subsidiaries explanatory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm139964498607784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2021</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory', window );">Selected information by segment</a></td>
<td class="text">
<div>
<div style="margin: 0 auto;">
<div>
<div>
<table cellpadding="0" style="height: 655px; border-collapse: collapse; margin: 0px; font-family: 'times new roman'; font-size: 10pt; width: 100%; text-indent: 0px;" width="100%">
<tbody>
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<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> &#160; </span></p>
</td>
<td colspan="28" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 87.2492%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: right;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> December 31, 2021&#160; &#160; &#160;</span></p>
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<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="14" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 46.333%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reported Segments </span></p>
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<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
<td colspan="7" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 28.8766%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Reconciliation </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 8.64023%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td colspan="2" rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 9.52437%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Ra&#237;zen </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Gas and Power</span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 7.64873%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Moove </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Logistics </span></p>
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<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.831255%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Investments</span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 1.41643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 7.79037%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Cosan Corporate </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 10.1983%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Deconsolidated effects </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.849858%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.831255%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 35px; width: 8.35694%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Segment elimination </span></p>
</td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.708215%;"><br/></td>
<td rowspan="2" style="padding: 0px; vertical-align: bottom; height: 35px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 18px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 18px; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; border-bottom: 1pt solid #000000; height: 18px; width: 8.64023%;">
<p style="border-bottom-color: #000000; border-bottom-width: 0.5pt; margin: 0pt; padding-bottom: 1pt; text-align: center;"><span style="font-family: 'times new roman', times; font-size: 8pt; font-weight: bold;"> Consolidated </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 18px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;"> Statement of profit or loss </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt; font-weight: bold;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 188,825,984 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 15,711,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 7,697,074 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 7,944,312 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 32,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 9,002 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (188,825,984 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 31,337,931 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 12px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">Domestic market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 182,035,680 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 15,711,939 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 7,021,757 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 7,606,966 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 32,695 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 9,002 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (182,035,680 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 30,325,268 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 12px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 22px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 22px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times;">External market<sup><span style="vertical-align: super;">(i)</span></sup></span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 22px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 6,790,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 675,317 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 337,346 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (6,790,304 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 1,012,663 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 22px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Net sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 175,047,270 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 12,330,209 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 6,112,457 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 7,439,632 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 8,292 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (175,047,270 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 25,865,001 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Cost of sales </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (163,367,574 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (9,755,425 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (4,808,643 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (5,352,040 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (5,231 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 163,367,574 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 57,091 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (19,864,248 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Gross profit </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 11,679,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 2,574,784 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 1,303,814 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 2,087,592 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 31,502 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 3,061 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (11,679,696 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 6,000,753 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Selling expenses</span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (3,882,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (125,412 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (551,520 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (38,959 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (7,528 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 3,882,690 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (723,419 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> General and administrative expenses </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (1,788,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (502,048 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> (269,810 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (472,739 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (6,499 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 1.41643%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> (321,261 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> 1,788,180 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> (1,572,357 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Other income (expenses), net </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> 717,792 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 25,569 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.64873%;">
<p style="margin: 0pt; text-align: right;"><span> 23,414 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> (69,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> 21,017 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 1.41643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 7.79037%;">
<p style="margin: 0pt; text-align: right;"><span> 381,617 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 10.1983%;">
<p style="margin: 0pt; text-align: right;"><span> (717,792 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.831255%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.35694%;">
<p style="margin: 0pt; text-align: right;"><span> &#8212; </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.708215%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 8.64023%;">
<p style="margin: 0pt; text-align: right;"><span> 382,600 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.849858%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; width: 0.141643%;"><br/></td>
</tr>
<tr style="height: 17px; background-color: #cceeff;">
<td style="padding-left: 3.5pt; padding-right: 3.5pt; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 14.0227%;">
<p style="margin: 0pt; text-indent: 10pt;"><span style="font-family: 'times new roman', times; font-size: 10pt;"> Interest in earnings of associates </span></p>
</td>
<td colspan="2" style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 9.52437%;">
<p style="margin: 0pt; text-align: right;"><span> (43,534 </span></p>
</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.849858%;">)</td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; width: 0.141643%;"><br/></td>
<td style="padding: 0px; vertical-align: bottom; height: 17px; background-color: #cceeff; w